About PVR INOX Limited

PVR INOX Limited is India’s leading cinema exhibition company, engaged primarily in movie exhibition and allied activities, including movie production and distribution, bowling and gaming, and restaurant services under the PVR INOX brand. The company operates across India with a footprint extending into Sri Lanka, supported by a local subsidiary; “PVR INOX Lanka Limited” is among the group’s subsidiaries, confirming its regional presence beyond India. As of March 31, 2025, the company had 3 subsidiaries (names not listed here as per requirement).

Milestones highlight a pioneering journey: inception in 1991; first multiplex (PVR Anupam, Delhi) in 1997; listing on NSE/BSE in 2006; the luxury “Gold Class” format in 2004; “Director’s Cut” premium experience in 2011; acquisition of Cinemax and the 350-screen mark in 2013; North India’s 15-screen PVR Superplex and crossing 500 screens in 2016; expansion into Sri Lanka and key capital raises thereafter; and the 2022 merger with INOX Leisure Limited to create PVR INOX. In 2024, the company elevated the experience with ad-free screenings in select luxury cinemas. Its portfolio also spans in-house film distribution (PVR INOX Pictures) and a strong food & beverage proposition anchored by the 4700BC popcorn brand.

PVR INOX Limited’s Key Management

• Ajay Kumar Bijli – Managing Director
• Sanjeev Kumar – Executive Director
• Gaurav Sharma – Chief Financial Officer
• Gautam Dutta – Chief Executive Officer – Revenue & Operations
• Pramod Arora – Chief Executive Officer – Growth & Investment and Chief Cost & Operational Efficiency Officer
• Kamal Gianchandani – Chief Business Planning & Strategy
• Alok Tandon – Chief Strategic Advisor
• Murlee Manohar Jain – Senior Vice President – Company Secretary & Compliance Officer

Latest Updates on PVR INOX Limited

• Capital-light growth model: The company has pivoted to Asset-Light and Franchise-Owned, Company-Operated (FOCO) formats. Developers co-invest 40%–80% of capex in Asset-Light, while FOCO is fully funded by the developer, with operations jointly managed.

• Network expansion: At the start of FY’26, two cinemas with 9 screens in Raipur and Jabalpur opened under FOCO, alongside a 5-screen Director’s Cut in Noida under Asset-Light. A further 23 cinemas with 101 screens are signed under the new framework, with more than 50% of FY’26 additions expected via FOCO/Asset-Light.

• Portfolio optimisation: In FY’25, 77 new screens were added and 72 under-performing screens were exited as part of a disciplined portfolio strategy.

• Strengthened finances: Over two years, net debt reduced by Rs 478.2 crore, from Rs 1,430.4 crore (March 2023) to Rs 952.2 crore (March 2025). Capex reduced from Rs 634.4 crore in FY’24 to Rs 333.5 crore in FY’25, helping generate free cash flow in a subdued box office environment.

• Strategic associate: During FY’25, the company formed an associate with Devyani International Limited—Devyani PVR INOX Private Limited—for developing and operating food courts in shopping malls in India. PVR INOX invested Rs 1.46 crore and holds a 49% stake in the associate.

• Recognition: PVR INOX won the ‘Platinum’ award at the LACP Vision Awards for its FY’24 Annual Report (ranked 25th among the Top 100 worldwide) and ‘Most Admired Multiplex of the Year’ by IMAGES – Phygital Retail Convention. The company also received a DEAI Excellence award presented by the US ambassador to India.