{"id":67838,"date":"2023-03-01T18:02:00","date_gmt":"2023-03-01T12:32:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=67838"},"modified":"2023-03-01T17:55:11","modified_gmt":"2023-03-01T12:25:11","slug":"biz-pvr-merger","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-pvr-merger\/","title":{"rendered":"PVR Inox to add 200 screens every year; expects double-digit growth in top-line in FY24"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2958273752\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Leading multiplex operator PVR is working on &#8220;getting economies of scale&#8221; after the merger of rival Inox Leisure and expects a double-digit growth in its top-line in FY24, said managing director Ajay Bijli.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2767249805\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>PVR is working on synergies on revenue from ticket prices, food &amp; beverage, advertising, and operating costs, he said, adding that the merged entity has plans to add 200 screens every year, and tap the potential of smaller markets.<\/p><p>&#8220;If you look property by property, in certain places there are disparities in the ticket price. There are opportunities for improving programming, and scheduling the peak-hour ticket pricing,&#8221; Bijli told PTI.<\/p><p>Besides, some of the properties would also have to be upgraded, he said.<\/p><div class=\"trade-content_5\" id=\"trade-1408798687\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;We both are operating in the same environment and look at the demographics in a similar way. But whatever tweaking needs to be done for both brands to give a consistent experience, we are working on it,&#8221; Bijli added.<\/p><p>When asked about the growth in terms of the top-line of the merged entity in FY24, Bijli said he expects double-digit growth.<\/p><p>&#8220;In calendar year 2019 which was normal year of operations pre-pandemic, PVR and Inox recorded a combined turnover of about Rs 5,600 crore. We are adding about 200 screens every year with a capex of about Rs 700-750 crore,&#8221; he said.<\/p><p>A merger of PVR and Inox Leisure is effective from February 06, 2023.<\/p><p>&#8220;We felt that coming together would make the balance sheet stronger and this business is all about scale&#8230; I truly believed that if we has not come together, there would have been a problem in growth, and we will grow together,&#8221; he said.<\/p><p>Like in the F&amp;B space, Inox was serving vegetarian food only and post-merger it will also have a non-vegetarian menu, which can take the ATP (Average Ticket Price)) up.<\/p><div class=\"trade-content-10\" id=\"trade-704325126\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;Advertising is another area, where the minutes on the screen, which we were charging can be taken up,&#8221; he said.<\/p><p>Besides, Bijli also plans to share some benefits with the consumer from the economies of scale after the merger.<\/p><p>&#8220;Not everywhere it will be value-driven, it would be volume driven as well. Where ever we feel that ATP has to come down, it&#8217;s fine for us,&#8221; he said, adding, &#8220;the ATP will come down at several places.&#8221; According to Bijli, he is more concerned with film income rather than ticket price multiplied by the number of people.<\/p><p>&#8220;Our focus is more on getting more and more people inside, rather than looking at ticket price,&#8221; he said.<\/p><p>Regarding the operation cost, Bijli said the joint entity PVR Inox would have 23,000 people and have operations in 113 cities.<\/p><p>Post-merger Inox Leisure would cease to exist and Bijli would head the merged entity PVR Inox as managing director.<\/p><p>After the merger with Inox, PVR on Wednesday announced the launch of an 11-screen &#8216;superplex&#8217; at Lucknow at Lulu Mall, the largest shopping mall in the city.<\/p><p>This will have all formats, including the multi-sensory 4DX format, premium large screen format P[XL], two auditoriums of PVR&#8217;s luxury format, LUXE along with 7 auditoriums with last-row recliners.<\/p><p>After this, PVR&#8217;s foothold in Uttar Pradesh with 158 screens in 32 properties consolidates the merged entity&#8217;s presence in north India with 438 screens in 100 properties.<\/p><p>In the current fiscal, the merged entity has opened 143 screens across 26 properties in 21 cities. PTI KRH HVA<\/p><div class=\"trade-after-content\" id=\"trade-2213142813\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Leading multiplex operator PVR is working on &#8220;getting economies of scale&#8221; after the merger of rival Inox Leisure and expects a double-digit growth in its top-line in FY24, said managing director Ajay Bijli. PVR is working on synergies on revenue from ticket prices, food &amp; beverage, advertising, and operating costs, he said, adding that the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":17460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-67838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PVR Inox to add 200 screens every year; expects double-digit growth in top-line in FY24 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Leading multiplex operator PVR is working on &quot;getting economies of scale&quot; after the merger of rival Inox Leisure and expects a double-digit growth in its top-line in FY24, said managing director Ajay Bijli.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=67838\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PVR Inox to add 200 screens every year; 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