Investment Thesis
• Turnaround underway: After FY25 losses of ₹280.9 crore, the company is on track to deliver ₹150–₹200 crore profit in FY26 and ₹365 crore in FY27.
• Premium-led growth: Premium formats expected to contribute 25–30% of revenue by FY27, with ATPs ranging ₹700–₹1,000.
• Asset-light expansion: FOCO model rollout in Tier-II/III cities reduce capex and improves ROCE.
• Debt-free by FY27: Management targets zero net debt through real estate monetization and screen rationalization.
Buy Call on PVR_29 Oct 2025
BUY : PVRINOX-EQ( PVRINOX ) [13147]
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