# PVR Inox share price today (PVR Inox Ltd, NSE: PVRINOX)

> PVR Inox share price today: ₹1,524.00 at the NSE close on 3 November 2026, up 26.3% in a year. PVR Inox (NSE: PVRINOX) is worth ₹14,967 crore, trades at a P/E of 31.5 and has closed between ₹931.00 and ₹1,524.00 over the past 52 weeks. > PVR Inox Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 1% of past readings. PVRINOX · Entertainment & Media · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/pvr-inox-ltd

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## Key numbers

- Price: ₹1,524.00 (+26.3% in a year)
- P/E: 31.5× (lower than 99% of the last 11 years)
- Revenue (Sep 2026): ₹2,105 Cr (+16.9% on a year ago)
- Profit (Sep 2026): ₹263 Cr (+148.1% on a year ago)
- Operating margin: 37.0% (+3.0 points on a year ago)
- ROCE: 7%, FY26
- ROIC: 6.5%, against a 12.0% cost of capital: −5.5 points
- Profit that came in as cash: 688%, last 3 years

The main question: domestic institutions moved −5.9 percentage points over 8 quarters while the business went the other way. ## What is the PVR Inox share price today? PVR Inox Ltd's share price was ₹1,524.00 at the close on 3 November 2026. It has been rising for 11 weeks. That is 32.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹931 and ₹1,524, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 17 weeks in a row. Over the last 11 years the share price moved +111% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at PVR Inox this quarter? Three changes stood out: best operating margin in 16 quarters, profit up on a year earlier for 8 quarters in a row and revenue up on a year earlier for 6 quarters in a row. 1. Best operating margin in 16 quarters Operating margin was 37% in the September 2026 quarter, against 34% a year earlier. Why: The margin rose because stronger sales let the company spread its fixed costs over more business. Next results: check whether food sales and live sport keep the higher margin. From the earnings call on 28 Oct 2026. 2. Profit up on a year earlier for 8 quarters in a row In the September 2026 quarter profit was ₹263 crore, +148.1% on a year earlier. Why: Profit rose because sales increased and the company kept a bigger part of each sale after costs. From the earnings call on 28 Oct 2026. 3. Revenue up on a year earlier for 6 quarters in a row In the September 2026 quarter revenue was ₹2,105 crore, +16.9% on a year earlier. Why: More people came to the cinema and food spending per visitor rose. From the earnings call on 28 Oct 2026. ## What are PVR Inox's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), PVR Inox reported revenue of ₹2,105 crore, up 16.9% from ₹1,800 crore a year earlier, and a profit of ₹263 crore, up 148.1% from ₹106 crore. ### PVR Inox results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹2,105 crore | ₹1,800 crore | +16.9% |
| Profit | ₹263 crore | ₹106 crore | +148.1% |
| Earnings per share | ₹26.79 | ₹10.76 | +149.0% |
| Operating margin | 37.0% | 34.0% | +3.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). PVR Inox's management discussed these results on a call held on 28 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the PVR Inox share price history? PVR Inox closed at ₹1,524.00 on 3 November 2026, up 26.3% from ₹1,206.60 a year earlier (31 October 2025) and down 13.6% over five years. Its highest weekly close since March 2016 was ₹2,144.25 on 29 July 2022. ### PVR Inox share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,395.70 | +9.2% |
| 1 month ago · 1 Oct 2026 | ₹1,215.30 | +25.4% |
| 6 months ago · 30 Apr 2026 | ₹1,068.90 | +42.6% |
| 1 year ago · 31 Oct 2025 | ₹1,206.60 | +26.3% |
| 3 years ago · 3 Nov 2023 | ₹1,611.15 | −5.4% |
| 5 years ago · 4 Nov 2021 | ₹1,763.85 | −13.6% |
| 10 years ago · 4 Nov 2016 | ₹1,208.23 | +26.1% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹721.23 | +111.3% |
| Highest weekly close since March 2016 · 29 Jul 2022 | ₹2,144.25 | −28.9% |
| Lowest weekly close since March 2016 · 18 Mar 2016 | ₹696.93 | +118.7% |
| 52-week high (weekly close) · 3 Nov 2026 | ₹1,524.00 | 0.0% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹931.00 | +63.7% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on PVR Inox? 3 Nov 2026: PVR Inox closed at ₹1,524.00, up 9.2% on the week and up 25.4% on the month. 28 Oct 2026: PVR Inox held its results call for July to September 2026. Management guided: FY27 90-100 new screens bulk in H2 mainly capital-light including 2-3 Smart Cinemas. ### Earlier

- Results for July to September 2026: Revenue up 16.9% and profit up 148.1% on a year earlier. - Our read, 22 Aug 2026: The earnings recovery is real but remains content-sensitive: capital-light expansion and lower leverage can lift returns, while screen-delivery cuts and an elevated margin base require execution proof. ### Our read of the business

April to June 2026: Revenue rose while reported profit remained positive against a loss-making comparable quarter. (Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What dividend does PVR Inox pay? PVR Inox has paid no dividend on the NSE since 1 April 2021, the start of the period we checked. Not in its latest year. PVR Inox Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 7 of its last 13 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did PVR Inox management say on the latest results call? On the call for July to September 2026, held on 28 October 2026, PVR Inox's management guided: FY27 90-100 new screens bulk in H2 mainly capital-light including 2-3 Smart Cinemas. > “Merger synergies, cost discipline, and capital efficiencies have made PVR Inox Ltd. a structurally stronger business.”
> Ajay Bijli, on the call for July to September 2026

### What management guided

- Return around 30% of annual surplus cash flow via dividends buybacks or mix at board discretion. - Net debt to operating profit kept within 0.5 times after any distribution as balance-sheet guardrail. - Pay-per-eyeball digital ad platform to monetise sleeper footfalls planned 8-10 months out. - Maximum 3-4 year payback discipline on every new unit even at 200 screens a year. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4583-28-Oct-2026.pdf). (From the call for July to September 2026, 28 October 2026.)

## What is the future of PVR Inox? What is changing in the business? One change in PVR Inox's own numbers looks lasting: debt falling. Also showing up, but too early to call lasting: costs spread over more sales and higher-value products and a better mix. Debt falling looks lasting

Debt has been paid down fast. Net debt (management's measure, excluding lease liabilities and net of cash) fell from ₹619 crore at Sep 2025 to ₹365 crore, then ₹161 crore at Mar 2026, and became ₹80 crore of net CASH at Jun 2026. Interest cost (which in Screener also includes interest on leases) fell in every quarter against a year earlier: ₹188 crore vs ₹206 crore, ₹180 crore vs ₹203 crore, ₹173 crore vs ₹196 crore, ₹164 crore vs ₹191 crore. Why it may last: the lower interest bill stays as long as capital spending (about ₹350 crore guided for FY27) stays within cash generation. Next check: Interest expense below ₹164 crore in the Sep 2026 quarter, with net cash held or grown while FY27 capital spending runs near ₹350 crore. Quarter by quarter, 4 quarters

July to September 2025

Net debt down ₹333 crore in six months; interest ₹188 crore vs ₹206 crore; borrowings ₹7,466 crore at Sep 2025 vs ₹7,775 crore at Mar 2025. ✓ fact

From our notes of the call for July to September 2025: As of September 2025, our net debt stood at 619 crores, the lowest level since the merger. October to December 2025

Net debt ₹365 crore; interest ₹180 crore vs ₹203 crore. The ₹226.8 crore 4700 BC sale also brought in cash this quarter. ✓ fact

From our notes of the call for October to December 2025: Net debt reduced to ₹365 crore from ₹1,365 crore at merger (₹1,000+ crore reduction) via strong free cash flows and disciplined capital allocation. January to March 2026

Net debt ₹161 crore; interest ₹173 crore vs ₹196 crore; borrowings ₹6,779 crore at Mar 2026. FY26 operating cash flow ₹2,160 crore against spending outflow of only ₹29 crore; share capital unchanged at ₹98 crore. ✓ fact

From our notes of the call for January to March 2026: Net debt reduced 90% since merger to ₹161 crore as of March 31, 2026 (negligible)

April to June 2026

Net cash ₹80 crore; interest ₹164 crore vs ₹191 crore a year earlier, still falling. Management says no further property sales are planned. ✓ fact

From our notes of the call for April to June 2026: Net cash reached ₹80 crore at June 30, 2026 after three years of free cash flow and disciplined allocation. Costs spread over more sales too early to call

More guests and higher spend per guest are flowing through a cinema network whose rent, staff and power costs grew much more slowly. Operating profit (profit from the business before other income, interest, depreciation and tax; Screener basis, before rent is deducted) rose faster than revenue in all four quarters against a year earlier: Sep 2025 ₹612 crore vs ₹479 crore (+27.8%) on revenue +12.4%; Dec 2025 ₹625 crore vs ₹528 crore (+18.4%) on revenue +7.7%; Mar 2026 ₹452 crore vs ₹289 crore (+56.4%) on revenue +25.8%; Jun 2026 ₹528 crore vs ₹404 crore (+30.7%) on revenue +11.9%. Management says it now earns 18% margins (its own rent-adjusted measure) at about 28% occupancy, where before COVID it needed 3-4 points more occupancy. Why it may last: Spreading fixed costs only pays while guests keep coming, and guest numbers swing with the film slate: the weak Mar 2025 quarter had a 24% operating margin. Management's lower-cost-base claim has not yet been tested through a weak film year, so the profit level moves with the content cycle. What could be flattering it: A record film year plus a one-off fall in film-hire cost in Jun 2026, not a lasting lower cost base; or net profit lifted by other income and a tax effect rather than the business. Next check: In the Sep 2026 quarter, operating profit stays above the ₹612 crore of Sep 2025 with operating margin at or above 33%, now without the film-hire timing benefit. Quarter by quarter, 4 quarters

July to September 2025

Guests hit an eight-quarter high and operating profit jumped to ₹612 crore from ₹479 crore a year earlier on revenue of ₹1,823 crore vs ₹1,622 crore; operating margin 34% vs 30%. ✓ fact

From our notes of the call for July to September 2025: Footfall reached 44.5 million, the highest in the last eight quarters, reflecting 16.0% on a year earlier growth. October to December 2025

Second straight quarter of high margins at about 28% occupancy; operating profit ₹625 crore vs ₹528 crore a year earlier while revenue grew only 7.7% (₹1,850 crore vs ₹1,717 crore). ✓ fact

From our notes of the call for October to December 2025: For two consecutive quarters now, the business has delivered 18% operating margin at an occupancy of around 28%. January to March 2026

Seasonally weak quarter, yet operating profit rose to ₹452 crore from ₹289 crore on revenue +25.8% (₹1,547 crore vs ₹1,230 crore); depreciation ₹330 crore vs ₹316 crore, so almost all of the gain reached profit before tax. Management names operating leverage as one of three margin drivers. ✓ fact

From our notes of the call for January to March 2026: Operating leverage on fixed cost base at current occupancy levels. April to June 2026

Operating profit ₹528 crore vs ₹404 crore on revenue ₹1,622 crore vs ₹1,450 crore, guests +8%; depreciation ₹314 crore vs ₹308 crore. ✓ fact

From our notes of the call for April to June 2026: Q1 adjusted operating margin expanded to 14.0% as operating profit nearly doubled; management attributed the improvement to operating leverage and sustained cost discipline. Higher-value products and a better mix too early to call

Each guest is paying more. Average ticket price rose 2% to ₹262 (Sep 2025 quarter), 4% to ₹293 (Dec 2025), 8% to ₹280 for FY26 with ₹315 in the Mar 2026 quarter, and 8% to ₹273 (Jun 2026). Food and drink spend per head went ₹134, ₹146 (+4%), ₹147 for FY26 (+10%; ₹165 in the Mar 2026 quarter) and ₹161 (+9%). Management credits premium screens (IMAX, 4DX, ScreenX, Luxe, about 20% of the circuit), dynamic pricing and a wider menu. Advertising, the highest-margin stream, went the other way: a record ₹126 crore in the Sep 2025 quarter, then hurt in Dec 2025 by fewer marketable films and weak through FY26. Why it may last: Premium screens belong to the company, but the ticket and food price rises have only been seen in a record box office year, and spend-per-head growth is mostly price. A weak film quarter in which ticket price and spend per head still rise would decide it. What could be flattering it: Plain price rises riding a strong film year rather than a lasting shift to premium formats; and the margin gain may really be fixed-cost spreading (L01), not mix. Next check: In the Sep 2026 quarter, average ticket price and spend per head both rise at least 4% year on year, with gross margin at or above the 92.82% of Sep 2025. Quarter by quarter, 4 quarters

July to September 2025

Ticket price up only 2%; advertising at a record ₹126 crore (+16%). Gross margin 92.82% vs 91.8% and operating margin 33.54% vs 29.55% a year earlier. ✓ fact

From our notes of the call for July to September 2025: Average Ticket Price (ATP) grew 2.0% on a year earlier to ₹262; Food and Beverage (F&B) Spend Per Head (SPH) was ₹134. October to December 2025

Ticket price and spend per head both +4%, but advertising fell (4 marketable films vs 8 a year earlier). Gross margin 93.13% vs 92.2%; operating margin 33.79% vs 30.72%. ✓ fact

From our notes of the call for October to December 2025: Q3 guest footfalls reached 40.5M (+9% on a year earlier), ATP ₹293 (+4% on a year earlier), F&B per head ₹146 (+4% on a year earlier)

January to March 2026

Ticket price and spend per head at all-time highs in the quarter (₹315 and ₹165); FY26 ticket price +8%, spend per head +10%. Gross margin 93.01% vs 92.63%; operating margin 29.19% vs 23.51%. ✓ fact

From our notes of the call for January to March 2026: Per-screen yield expansion: ATP up 8% to ₹280 full year (₹315 in Q4), SPH up 10% to 147 (165 in Q4, all-time highs)

April to June 2026

Ticket price +8% and spend per head +9% while guests grew 8%; spend-per-head growth was about 70% price and 30% volume. Gross margin 92.73% vs 92.29%; operating margin 32.58% vs 27.84%, partly helped by the film-hire timing one-off. ✓ fact

From our notes of the call for April to June 2026: Guests reached 36.6 million, up 8.0% on a year earlier, while ATP ₹273 and SPH ₹161 rose 8.0% and 9.0%. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the PVR Inox story? What are the risks? The thesis fails if screen openings remain delayed through the next reported quarter while operating profit margins fall below the prior-year level despite the planned content slate. ### Each change stops working if

- Operating leverage from admissions and spend: Admissions weaken or content breadth does not support occupancy and spend. - Capital-light screen rollout: Licences continue to delay openings or the lower goal is missed. - Balance-sheet reset: Expansion spending rises faster than operating cash generation. - Broader content and advertising recovery: The content slate underperforms or advertisers do not return with audience growth. ### The main risks

- Screen-delivery downgrade: The FY27 screen plan has been cut and openings depend on regulatory licences. ⚠ estimate
- Content-led earnings volatility: Admissions, advertising and profitability depend on film mix and release timing. ⚠ estimate
- Optical reported-profit risk: Reported quarterly profit includes flagged other-income and tax effects. ⚠ estimate
- Margin normalization: Current operating margin is above the normalized margin estimate. ⚠ estimate

(Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in PVR Inox's next results? When PVR Inox reports October to December 2026, these are the 6 checks that show whether the story is still on course. First: Interest expense below ₹164 crore in the Sep 2026 quarter, with net cash held or grown while FY27 capital spending runs near ₹350 crore. | What to check | Why |
| --- | --- |
| Interest expense below ₹164 crore in the Sep 2026 quarter, with net cash held or grown while FY27 capital spending runs near ₹350 crore. | Debt falling |
| In the Sep 2026 quarter, operating profit stays above the ₹612 crore of Sep 2025 with operating margin at or above 33%, now without the film-hire timing benefit. | Costs spread over more sales |
| In the Sep 2026 quarter, average ticket price and spend per head both rise at least 4% year on year, with gross margin at or above the 92.82% of Sep 2025. | Higher-value products and a better mix |
| Second-half screen execution against flagged full-year plan - track count and capital-light mix in next quarterly update. | From the call |
| Smart pipeline conversion with fit-out units plus openings this fiscal - check progress and demand signals. | From the call |
| Digital pay-per-eyeball platform build against flagged launch window - verify progress and sleeper monetisation approach. | From the call |

## Which stock lists is PVR Inox on? PVR Inox is on 4 of our India lists: Multibagger study list, Momentum stocks, 52 week high & low and Small & mid cap stocks. - [Multibagger study list Study stage: early](https://www.sectoralpha.in/multibagger-stocks-india)
- [Momentum stocks Market cap cr: 14854.833389070965](https://www.sectoralpha.in/momentum-stocks-india)
- [52 week high & low 52-week position: At 52-week high](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Small & mid cap stocks Size rank in India: 438](https://www.sectoralpha.in/small-cap-stocks-india)

## Is PVR Inox profitable? PVR Inox Ltd earned ₹263 Cr of net profit in the Sep 2026 quarter, +148.1% on the same quarter a year earlier. Full-year FY26 profit was ₹333 Cr. Over 10 years profit has grown 12.9% a year on average. That is 12.5% of the quarter's revenue. The same quarter a year earlier earned ₹106 Cr. 5 of the last 12 reported quarters were loss-making. ## How much revenue does PVR Inox make, and is it growing? PVR Inox Ltd reported ₹2,105 Cr of revenue in the Sep 2026 quarter, +16.9% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 13.6% a year on average. The last full year, FY26, came in at ₹6,646 Cr. The last four reported quarters add to ₹7,124 Cr. FY26 revenue was ₹6,646 Cr, +16.6% on the year before. Recent pace: the last four quarters grew +15.6% on average, against 13.6% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +15.0%, against +12.6% a year over the last 8 quarters (stabilising). ## How much of every ₹100 of sales does PVR Inox keep? PVR Inox Ltd's operating margin was 37.0% in the Sep 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between −120.0% and 32.0%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +2.4 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is PVR Inox's profit turning into cash? Over the last 3 years, 688% of PVR Inox Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,160 Cr of operating cash against ₹333 Cr of profit. After ₹673 Cr of spending on assets, ₹1,487 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does PVR Inox's cash go? PVR Inox Ltd's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹6,646 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹2,715 Cr on assets over the last 3 years. Averaged over those years that is 13.6% of FY26 revenue a year. Spending on assets: ₹2,715 Cr over the last 3 years, against ₹3,766 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹32.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is PVR Inox's P/E ratio, and how does it compare with its own history? PVR Inox Ltd's P/E is 31.5×, about the lowest it has ever been. Its usual P/E (the middle reading) is 54.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹61.30. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Where the price move came from: over 10 years the price moved +2.3% a year; about +8.9% a year came from earnings growth and about −6.6 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the PVR Inox share price assume? Worked out from its price on 11 October 2026, PVR Inox Ltd's share price assumed profit growth of about 20.6% a year. Over the past 10 years its profit actually grew 12.9% a year. Today its P/E is 31.5×, lower than 99% of its own last 11 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the PVR Inox business getting better or worse? PVR Inox Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## What is the PVR Inox story, and has it been checked? PVR Inox Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Still open: The thesis fails if screen openings remain delayed through the next reported quarter while operating profit margins fall below the prior-year level despite the planned content slate. Our read, 22 August 2026. The earnings recovery is real but remains content-sensitive: capital-light expansion and lower leverage can lift returns, while screen-delivery cuts and an elevated margin base require execution proof. From the numbers. Earnings have recovered from a loss base and the price run has been limited, but normalized earnings remain negative in the…

From the price. Price stage 2, week 11, above its 200-day line, relative strength rising. From the research. The earnings recovery is real but remains content-sensitive: capital-light expansion and lower leverage can lift returns, while screen-delivery cuts and an elevated margin base require execution proof. Where they disagree. The deterministic normalized verdict is NA INSUFFICIENT DATA. What is proven. The earnings recovery is real but remains content-sensitive: capital-light expansion and lower leverage can lift returns, while screen-delivery cuts and an elevated margin base require execution proof. What is not proven yet. The thesis fails if screen openings remain delayed through the next reported quarter while operating profit margins fall below the prior-year level despite the planned content slate. What would change our mind. The thesis fails if screen openings remain delayed through the next reported quarter while operating profit margins fall below the prior-year level despite the planned content slate. The test written in advance. The thesis fails if screen openings remain delayed through the next reported quarter while operating profit margins fall below the prior-year level despite the planned content slate. Measured by: the thesis as written as stated by the next result. The test written in advance. Screen-delivery downgrade. Measured by: Screen-delivery downgrade Reported net additions remain below the latest planned run-rate through Q3 FY27. by the next result. The test written in advance. Content-led earnings volatility. Measured by: Content-led earnings volatility Revenue and operating profit both decline year on year in the next reported quarter. by the next result. What the company does. Reported quarterly profit has moved from losses to profits, supported by revenue recovery and lower interest costs. The latest quarter retained a high operating margin, but reported profit was lower than the prior quarter and includes non-operating and tax effects. What the surface reading misses. What the surface reading misses. The surface reading is: A high operating margin suggests superior current profitability. The research reads it further: The deterministic normalized margin is 22.2% versus a current margin of 32.6%, so current profitability includes cyclical content and mix effects as well as operating leverage. Lever 1 · Operating leverage: building. Higher admissions and customer spend can lift profit faster than revenue once venue costs are covered. What proves it keeps working: Operating leverage from admissions and spend. It stops working if Admissions weaken or content breadth does not support occupancy and spend. Lever 4 · Paying down debt: building. Operating cash flow and debt reduction have lowered financing pressure. What proves it keeps working: Balance-sheet reset. It stops working if Expansion spending rises faster than operating cash generation. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did PVR Inox management deliver what it promised? What PVR Inox Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Smart Cinema Capex Savings Reduced · 28 October 2026. In May 2026, management said Smart Cinema per-screen capex would be at least 30% to 40% lower than a mainstream cinema in the same location. In Oct 2026, the stated saving narrowed to 25% to 30% without explaining the change, which could materially reduce the projected unit-level returns and payback case for the expansion format. Smart Cinema Pilot Milestone Slipped · 28 October 2026. The May 2026 call planned at least two Smart Cinema pilots by mid-July. The latest call reports the first Smart Cinema opening only in September and does not explain the slippage in this strategic growth initiative. FY27 Screen Addition Guidance Cut · 24 July 2026. In the Feb 2026 call, management said it was looking at about 150 screens for the following year, and in the May 2026 call it cited 120-odd screens in the pipeline. In the Jul 2026 call, FY27 gross additions were reduced to 90-100, with net additions expected to be nearly 80. Management explained the zero Q1 openings by pending regulatory licenses and expected Q2/Q3 openings, but did not explain the material reduction in the full-year goal. FY27 Screen Addition Goal Revised Down ~20% · 11 May 2026. Management explicitly guided approximately 150 screen additions for FY27 in the Feb 2026 call, establishing a clear network expansion trajectory for the upcoming year. The May 2026 call revised this downward to approximately 120 screens without providing any explanation, a reduction of approximately 20% that directly impacts growth projections and earnings forecasts built on the prior guidance. Every quote above is taken word for word from the company’s own earnings calls. ## What is PVR Inox management's track record? Debt reduction through the cinema recovery is a positive stress response; licences still prevent completed fit-outs opening. Withholding a free-cash-flow goal is not shown to breach a disclosure obligation, and these cuts are not a huge unowned miss. ### Regulatory and governance record

The alleged developer-payment affair involving Pramod Arora is disputed by the company, which says its preliminary review found no evidence. No regulator, court or auditor fraud finding or current material proceeding is established; pass does not independently resolve the allegation. 10.89% Promoter shares pledged

Sources:

- [tradebrains.in](https://tradebrains.in/indian-markets/pvr-inox-senior-executive-exit-over-200-cr-payment-case-explained-12501512)

(Checked 14 October 2026.)

## How much does PVR Inox earn on its capital? PVR Inox Ltd earned a ROCE of 7% in FY26. That is up from a low of −9% in FY21. Its return on capital used (ROIC) is 5.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 5.0% net margin and 0.43× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.0% net margin × 0.43× asset turnover × 2.12× leverage (assets divided by equity) ≈ 4.6% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 6.5% − 12.0% = −5.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 6.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 4.7%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does PVR Inox have too much debt? PVR Inox Ltd has total debt of ₹6,309 Cr against shareholder equity of ₹7,390 Cr as of Sep 2026, so its debt is 0.85× its equity. Year by year, that ratio went from 3.79 in FY22 to 0.92 in FY26. Keep that borrowing in mind when reading the returns on this page. Why this happened. The latest quarter recorded a higher operating margin than its comparable quarter. Management directly attributes margin improvement to operating leverage and cost control, while premium formats and dynamic pricing support ticket and food spend. ## What is the PVR Inox shareholding pattern? Domestic institutions cut their stake in PVR Inox Ltd by 5.9 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 34.2% of the company. Foreign institutions moved +0.4 points over the same period, to 19.6%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −5.9 points over 8 quarters, to 34.2%; Foreign institutions: +0.4 points over 8 quarters, to 19.6%; Promoters: +0.1 points over 8 quarters, to 27.6%. Why the owners changed: domestic institutions drove it (−5.9 points). They reduced their stake. ## How far is PVR Inox from balance-sheet trouble? For PVR Inox Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does PVR Inox rank in its industry? 73.6 out of 100, rank 1 of 25 in Entertainment & Media, with 100% of the evidence available. PVR Inox Ltd scores 73.6 out of 100 against the 25 companies it is compared with in Entertainment & Media, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 26.7 + 13.5 + 14.8 + 18.6 = 73.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is PVR Inox compared with? PVR Inox ranks 1 of 25 Entertainment & Media companies on the 4-Factor Sector Score, with 73.6 out of 100. 1. PVR Inox Ltd this page PVRINOX · leader · Most evidence points up · 100% evidence 73.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.7/35 · Revenue 15% · Profit 100% · Operating margin change 3 points · 100% evidence Capital efficiency 13.5/25 · ROCE 6.8% · Operating margin 37% · 100% evidence Valuation 14.8/20 · P/E 30.9× · PEG 0.54 · 100% evidence Relative strength 18.6/20 · Lead over its industry 47.7% · Lead over NIFTY 500 44.8% · 1 year 23.9% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.7 + 13.5 + 14.8 + 18.6 = 73.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Media Matrix Worldwide Ltd](https://www.sectoralpha.in/stocks/media-matrix-worldwide-ltd) MMWL · breaking out · Most evidence points up · 75% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.8/35 · Revenue 50.7% · Profit 100% · Operating margin change 0 points · 95% evidence Capital efficiency 11.3/25 · ROCE 9.7% · Operating margin 1.7% · 76% evidence Valuation 9.0/20 · P/E 258× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 66.2% · Lead over NIFTY 500 62.6% · 1 year 57.8% · 100% evidence · 8 of 12 weeks ahead Exact sum: 26.8 + 11.3 + 9 + 20 = 67.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Nazara Technologies Ltd](https://www.sectoralpha.in/stocks/nazara-technologies-ltd) NAZARA · leader · Most evidence points up · 67% evidence 66.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.8/35 · Revenue -2.1% · Profit -48.6% · Operating margin change 42 points · 71% evidence Capital efficiency 18.3/25 · ROCE 27.1% · Operating margin 11% · 76% evidence Valuation 8.5/20 · P/E 1212× · PEG n/a · 15% evidence Relative strength 16.7/20 · Lead over its industry 43.3% · Lead over NIFTY 500 40.6% · 1 year 49.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.8 + 18.3 + 8.5 + 16.7 = 66.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Nila Spaces Ltd](https://www.sectoralpha.in/stocks/nila-spaces-ltd) NILASPACES · Evidence leans up · 76% evidence 64.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 33.8/43.75 · Revenue 31.1% · Profit 75.5% · Operating margin change 9.1 points · 88% evidence Capital efficiency 22.8/31.25 · ROCE 30.5% · Operating margin 38.7% · 100% evidence Valuation 8.1/25 · P/E 14× · PEG 3.29 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 33.8 + 22.8 + 8.1 = 64.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 5. [Hindustan Media Ventures Ltd](https://www.sectoralpha.in/stocks/hindustan-media-ventures-ltd) HMVL · quiet · Evidence leans up · 81% evidence 64.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Revenue 10.8% · Profit 2.3% · Operating margin change 8 points · 88% evidence Capital efficiency 13.7/25 · ROCE 10.8% · Operating margin 14% · 100% evidence Valuation 19.5/20 · P/E 3.4× · PEG 0.19 · 100% evidence Relative strength 11.0/20 · Lead over its industry n/a · Lead over NIFTY 500 3.1% · 1 year n/a · 25% evidence · 3 of 12 weeks ahead Exact sum: 20.3 + 13.7 + 19.5 + 11 = 64.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Prime Focus Ltd](https://www.sectoralpha.in/stocks/prime-focus-ltd) PFOCUS · breaking out · Evidence leans up · 79% evidence 59.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 29.2% · Profit 100% · Operating margin change 0 points · 88% evidence Capital efficiency 15.3/25 · ROCE 11.3% · Operating margin 24% · 100% evidence Valuation 9.3/20 · P/E 126× · PEG n/a · 15% evidence Relative strength 10.1/20 · Lead over its industry 17.1% · Lead over NIFTY 500 15% · 1 year 58.4% · 100% evidence · 9 of 12 weeks ahead Exact sum: 24.7 + 15.3 + 9.3 + 10.1 = 59.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Basilic Fly Studio Ltd](https://www.sectoralpha.in/stocks/basilic-fly-studio-ltd) BASILIC · basing · Evidence leans up · 63% evidence 54.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.7/35 · Revenue 10.5% · Profit -9.7% · Operating margin change -5.8 points · 83% evidence Capital efficiency 19.8/25 · ROCE 21.5% · Operating margin 13.9% · 76% evidence Valuation 14.4/20 · P/E 9.1× · PEG n/a · 50% evidence Relative strength 8.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -22.6% · 1 year -54.6% · 25% evidence · 2 of 11 weeks ahead Exact sum: 11.7 + 19.8 + 14.4 + 8.1 = 54 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Sun TV Network Ltd](https://www.sectoralpha.in/stocks/sun-tv-network-ltd) SUNTV · breaking out · Evidence leans up · 100% evidence 53.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.9/35 · Revenue -5% · Profit -4.9% · Operating margin change -10 points · 100% evidence Capital efficiency 18.2/25 · ROCE 16.4% · Operating margin 48% · 100% evidence Valuation 8.7/20 · P/E 15.1× · PEG 1.34 · 100% evidence Relative strength 16.1/20 · Lead over its industry 18.5% · Lead over NIFTY 500 15.9% · 1 year 8.1% · 100% evidence · 6 of 12 weeks ahead Exact sum: 10.9 + 18.2 + 8.7 + 16.1 = 53.9 · What this means: Relative strength against the index is 15.9%, and revenue and profit growth are weak. 9. [Amagi Media Labs Ltd](https://www.sectoralpha.in/stocks/amagi-media-labs-ltd) AMAGI · quiet · Too little evidence to rank firmly · 51% evidence 53.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.4/43.75 · Revenue 31% · Profit n/a · Operating margin change 7.4 points · 65% evidence Capital efficiency 10.3/31.25 · ROCE 8% · Operating margin 7% · 100% evidence Valuation 11.8/25 · P/E 117× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 31.4 + 10.3 + 11.8 = 53.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 10. [City Pulse Multiventures Ltd](https://www.sectoralpha.in/stocks/city-pulse-multiventures-ltd) basing · Evidence leans down · 61% evidence 49.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.3/35 · Revenue 100% · Profit 100% · Operating margin change -48 points · 83% evidence Capital efficiency 9.8/25 · ROCE 3.2% · Operating margin 19% · 95% evidence Valuation 9.7/20 · P/E 61.4× · PEG n/a · 15% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -93.2% · 1 year -96% · 25% evidence · 0 of 12 weeks ahead Exact sum: 22.3 + 9.8 + 9.7 + 7.5 = 49.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [H T Media Ltd](https://www.sectoralpha.in/stocks/h-t-media-ltd) HTMEDIA · basing · Evidence leans down · 78% evidence 47.7 out of 100 Growth Capital Valuation Relative
12. [Zee Media Corporation Ltd](https://www.sectoralpha.in/stocks/zee-media-corporation-ltd) ZEEMEDIA · Too little evidence to rank firmly · 51% evidence 47.7 out of 100 Growth Capital Valuation Relative
13. [Panorama Studios International Ltd](https://www.sectoralpha.in/stocks/panorama-studios-international-ltd) PANORAMA · breaking out · Too little evidence to rank firmly · 56% evidence 45.1 out of 100 Growth Capital Valuation Relative
14. [T.V. Today Network Ltd](https://www.sectoralpha.in/stocks/tv-today-network-ltd) TVTODAY · basing · Evidence leans down · 81% evidence 44.5 out of 100 Growth Capital Valuation Relative
15. [Den Networks Ltd](https://www.sectoralpha.in/stocks/den-networks-ltd) DEN · basing · Evidence leans down · 67% evidence 41.8 out of 100 Growth Capital Valuation Relative
16. [Network 18 Media & Investments Ltd](https://www.sectoralpha.in/stocks/network-18-media-investments-ltd) NETWORK18 · basing · Evidence leans down · 60% evidence 41.5 out of 100 Growth Capital Valuation Relative
17. [Balaji Telefilms Ltd](https://www.sectoralpha.in/stocks/balaji-telefilms-ltd) BALAJITELE · breaking out · Evidence leans down · 61% evidence 38.8 out of 100 Growth Capital Valuation Relative
18. [GTPL Hathway Ltd](https://www.sectoralpha.in/stocks/gtpl-hathway-ltd) GTPL · basing · Too little evidence to rank firmly · 57% evidence 37.0 out of 100 Growth Capital Valuation Relative
19. [Hathway Cable & Datacom Ltd](https://www.sectoralpha.in/stocks/hathway-cable-datacom-ltd) HATHWAY · basing · Evidence leans down · 100% evidence 35.5 out of 100 Growth Capital Valuation Relative
20. [Zee Entertainment Enterprises Ltd](https://www.sectoralpha.in/stocks/zee-entertainment-enterprises-ltd) ZEEL · quiet · Evidence leans down · 85% evidence 35.2 out of 100 Growth Capital Valuation Relative
21. [Entertainment Network (India) Ltd](https://www.sectoralpha.in/stocks/entertainment-network-indialtd) ENIL · Too little evidence to rank firmly · 51% evidence 30.7 out of 100 Growth Capital Valuation Relative
22. [New Delhi Television Ltd](https://www.sectoralpha.in/stocks/new-delhi-television-ltd) NDTV · quiet · Most evidence points down · 71% evidence 27.5 out of 100 Growth Capital Valuation Relative
23. [Bright Outdoor Media Ltd](https://www.sectoralpha.in/stocks/bright-outdoor-media-ltd) Too little evidence to rank firmly · 34% evidence 57.5 out of 100 Growth Capital Valuation Relative
24. [DAPS Advertising Ltd](https://www.sectoralpha.in/stocks/daps-advertising-ltd) Too little evidence to rank firmly · 31% evidence 54.8 out of 100 Growth Capital Valuation Relative
25. [Dish TV India Ltd](https://www.sectoralpha.in/stocks/dish-tv-india-ltd) DISHTV · Too little evidence to rank firmly · 48% evidence 21.0 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Entertainment & Media](https://www.sectoralpha.in/sectors/entertainment-media), all 25 compared on one page. ## Which companies are close to PVR Inox in size? PVR Inox is the 4th largest of 25 Entertainment & Media companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Sun TV Network, Prime Focus and Nazara Technologies. Just below it: Amagi Media Labs, Zee Entertainment Enterprises and Network 18 Media & Investments. ### Entertainment & Media companies close in size

1. [Sun TV Network Ltd](https://www.sectoralpha.in/stocks/sun-tv-network-ltd) ₹23,943 crore
2. [Prime Focus Ltd](https://www.sectoralpha.in/stocks/prime-focus-ltd) ₹22,436 crore
3. [Nazara Technologies Ltd](https://www.sectoralpha.in/stocks/nazara-technologies-ltd) ₹16,294 crore
4. PVR Inox Ltd ₹14,682 crore
5. [Amagi Media Labs Ltd](https://www.sectoralpha.in/stocks/amagi-media-labs-ltd) ₹11,900 crore
6. [Zee Entertainment Enterprises Ltd](https://www.sectoralpha.in/stocks/zee-entertainment-enterprises-ltd) ₹6,378 crore
7. [Network 18 Media & Investments Ltd](https://www.sectoralpha.in/stocks/network-18-media-investments-ltd) ₹3,662 crore

[All 25 Entertainment & Media companies, largest first](https://www.sectoralpha.in/sectors/entertainment-media#all-companies)

### Companies close in size in other industries

1. [Poly Medicure Ltd](https://www.sectoralpha.in/stocks/poly-medicure-ltd) ₹14,692 crore · Medical Equipment
2. [Molbio Diagnostics Ltd](https://www.sectoralpha.in/stocks/molbio-diagnostics-ltd) ₹14,682 crore
3. PVR Inox Ltd ₹14,682 crore
4. [eClerx Services Ltd](https://www.sectoralpha.in/stocks/eclerx-services-ltd) ₹14,641 crore · IT Enabled Services
5. [Bayer CropScience Ltd](https://www.sectoralpha.in/stocks/bayer-cropscience-ltd) ₹14,636 crore · Pesticides/Agrochemicals

## What else do people ask about PVR Inox? ### What is PVR Inox's share price today? PVR Inox Ltd's share price is ₹1,524.00, +26.3% over the past year. The whole company is worth ₹14,967 Cr on the market. It is at its highest price of the past 52 weeks (range ₹931 to ₹1,524), 32.9% above its 200-day average. The price has been rising for 11 weeks (as of 3 November 2026). ### What were PVR Inox's latest quarterly results? PVR Inox Ltd reported revenue of ₹2,105 Cr and net profit of ₹263 Cr for the Sep 2026 quarter. Revenue rose 16.9% and profit rose 148.1% compared with a year earlier. Earnings per share were ₹26.79. The operating margin was 37.0%, 3.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is PVR Inox's market cap? PVR Inox Ltd's market capitalisation is ₹14,967 Cr at a share price of ₹1,524.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is PVR Inox performing? PVR Inox Ltd's share price has been rising for 11 weeks. In its latest quarter, revenue rose 16.9% and profit rose 148.1% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 17 weeks running (as of 3 November 2026). ### Will PVR Inox's share price go up? This page does not forecast PVR Inox Ltd's share price. What it shows instead: the share price is ₹1,524.00, and it has been rising for 11 weeks. Its P/E of 31.5× is higher than 1% of its own last 11 years (as of 3 November 2026). ### Who owns PVR Inox? Promoters own 27.6% of PVR Inox Ltd, foreign institutions 19.6%, domestic institutions 34.2% and the public 18.6% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 5.9 percentage points over 8 quarters (as of 3 November 2026). ### Does PVR Inox have too much debt? PVR Inox Ltd has a moderate amount of debt: its debt is 0.92× its equity, and its operating profit is 3 times its interest bill. FY26 borrowings were ₹6,779 Cr against equity of ₹7,378 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is PVR Inox in its business cycle? PVR Inox Ltd's FY26 operating margin was 32.0%, against a 13-year range of −120.0% to 32.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 37.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the PVR Inox story? The main question: domestic institutions moved −5.9 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is PVR Inox a stock worth studying right now? What the numbers show: PVR Inox Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 1% of past readings. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a PVR Inox share price forecast for 2026? What management itself guided: FY27 90-100 new screens bulk in H2 mainly capital-light including 2-3 Smart Cinemas. One change in PVR Inox's own numbers looks lasting: debt falling. Also showing up, but too early to call lasting: costs spread over more sales and higher-value products and a better mix. What would change the story: The thesis fails if screen openings remain delayed through the next reported quarter while operating profit margins fall below the prior-year level despite the planned content slate. ### Where does this page get PVR Inox's management information? From PVR Inox's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.