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PVR Ltd -Quarterly Result Key Highlights Q1 FY22 Results - Pvr Ltd Analysis | invest Yadnya

PVR Ltd -Quarterly Result Key Highlights Q1 FY22 Results

Published on 02 August 2021 Views 47 Comments 0

Financial Highlights (on a consolidated basis):

PVR Ltd  reports a 2.67 % decrease in a net loss  in Q1FY22

Reported 2.67 %  decrease in PVR limited stock price and a  Net loss  at Rs -219.55 crore for the first quarter of Pvr ltd analysis which ended at June, 2021 as compared to Rs -225.58 crore for the same quarter in the previous year according to Pvr limited quarterly result. Whereas Pvr limited share price was up  by 24.09% against last quarter of Pvr limited company, at Net loss of  -289.21 Crore according to Pvr limited financial statement.

Revenues

Consolidated revenue from operations of the Pvr ltd results, increased by 367.64% at Rs 59.39 crore for Q1FY22 as compared to Rs 12.17 crore for the corresponding quarter the previous year. Revenues were drastically impacted due to second covid waves lockdown restrictions compared to last quarter which was at 181.46 Crore hence 67.27% down QoQ.

EBITDA

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) surged 760% to Rs -90.93 crore in Q1FY22  as compared to Rs -115.91 crore in the same quarter of the Pvr ltd company profile previous year. Whereas 121.84% down  QoQ.

Content in Pipeline:

Total 56 movies are in pipeline:

  • 24 Bollywood movies are in Pipeline

  • 16 Hollywood movies are in Pipeline

  • 16 regional movies are in Pipeline  

ConCall Highlights:

  • In India and Colombo, Sri Lanka, where PVR has an existence, has permitted cinemas to start operations again with restrictions from place to place timings and safety precautions. These states / UTs account for 526 screens across 111 properties. The company is looking to resume operations, in a steady manner, from July 30th 2021 .

  • Cost side: Company's strategy is to keep its fixed cost low to maintain liquidity.

  • 63%  of their property (i.e,526 screens across 111 properties ) allowed cinemas with some restrictions on capacity and safety precautions.

  • Currently, approval is to operate with capacity ranging from 50% to 100% depending on the region. 

  • 100% Vaccination achieved for all staff by the Company.

  • The blockbuster potential film will be released.

  • A company is going to adopt a revenue-sharing model with a distributor with some minor fluctuations.

  • There is an indication of rental waivers for the period when the property was shut during lockdown duration. Company seeking approval for waiver of CAM charges as well

  • The company had availed additional borrowings of Rs. 200 crores
    under the EGGS 3.0 scheme of the GoI.

  • Net cash/debt: Got net debt of 750Cr.

  • Has 850Cr  liquidity which is sufficient hence won't require any capital requirement

  • Competition with OTT and Cinema: Revenue from the OTT platform won’t suffice the loss incurred from theatre-based revenue.

  • Feedback from all stakeholders related to OTT: A lot of producers sold their licenses to Ott platforms due to financial constraints, None of the stakeholders are happy with this experience, especially creative talent. There are a lot of intangible producers who get apart from commercial benefits when they release movies in theatres. There is a need to have a window between OTT and theatre release.

  • Mid and small-budget movies revenue impact: Big small budgets with good actors will do well. It’s uncertain how it will perform as it depends on the quality of content.

  • The incentive of producers: The company deals with producers directly.

  • Assuming capacity increases in the coming months in case of more unlocking happening, a subsequent quarter will look good, as losses are coming down, this good impact mostly will be seen in the coming quarters, mostly in quarter 3.

  • Shooting scenario: Producers are permitted to shoot all across the world and are shooting for their forthcoming film.

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