INOX Leisure — Q2 FY23 Earnings Presentation
33 slides from INOX Leisure's earnings presentation, Oct 19, 2022
Slide 1: Cover letter to stock exchanges
19th October, 2022 To, BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, 5th Floor, Plot No C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 532706 Symbol: INOXLEISUR Dear Sir / Madam, Sub.: Disclosure of Ma
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Slide 3: Disclaimer
THIS PRESENTATION (PRESENTATION) IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF INOX LEISURE LIMITED (THE “COMPANY”) OR ITS SUBSIDIARY (TOGETHER WITH THE COMPANY, THE “GROUP”). The material that follows is a Presentation of general background information about the
Slide 4: Results Update Q2&H1 FY23
RESULTS UPDATE Q2&H1 FY23 • Key Highlights • Financial Highlights: Q2&H1 FY23 • Shareholding Structure • New Property Openings – Q2&H1 FY23 • Screen Outlook FY23 • Movie Pipeline • Enhanced Audience Outreach & Engagement • Cash Flow Planning • Annexure 3
Slide 5: Q2FY23 Key Highlights
Q2FY23 Highest Evev é¢ EEN PROPOSES TO ACQUIRE 1st MULTIPLEX CHENNAI CITY’S QTRLY SPH IN KASHMIR LARGEST MULTIPLEX 30 REVIVES CINEMA AFTER 32 YEARS ‘LUXE CINEMAS’ / Recognili MOST ADMIRED RETAILER At MAPIC India Retail Awards BEST MULTIPLEX CHAIN OF THE YEAR At IMAX Big Cine Awards POSITION %167 Cr
Slide 6: Q2 FY23 Revenue, EBITDA and PAT
REVENUE EBITDA* PAT* Q2 FY23 `381CR `3CR `-22CR 27% 97% Q2 FY20 `524CR `107CR `51CR *Excludes Impact of INDAS 116 FY21& FY22 were COVID-19 impacted hence compared with Q2FY20 5
Slide 7: H1 FY23 Revenue, EBITDA and PAT
REVENUE EBITDA* PAT* H1 FY23 `970CR `134CR `52CR 5% 33% 43% H1 FY20 `1,020CR `199CR `92CR *Excludes Impact of INDAS 116 FY21& FY22 were COVID-19 impacted hence compared with H1FY20 6
Slide 8: Revenue Breakup Analysis
REVENUE t>REAKUP ANALYSIS !.:.~:!":~. ,. ::~~~ ~ Q2FY20 vs Q2FY23 (₹ Cr) H1FY20 vs H1FY23 (₹ Cr) 1,100 1,020 970 62 ■ 78 Other Revenues 900 87 57 524 A 6% A 26% ■ Advertisement 33 700 273 274 ■ Net Food & Beverage 40 -35% 381 -34% 141 35 ■ Net Box Office 500 26 110 0.4% -22% 300 598 562 311 209 -6%
Slide 9: Q2 FY23 Footfalls, Occupancy, ATP, SPH
l"l llifi ,1· c-;.. . I :; .,,, FOOTFALLS OCCUPANCY% ATP SPH Q2 FY23 116Lakh 17% `215 `102 39% 13% 10% 29% Q2 FY20 190Lakh 30% `196 `79 Footfalls with management properties is 121lakh/199lakh for Q2FY23/Q2FY20 respectively FY21& FY22 were COVID-19 impacted hence compared with Q2FY20 8
Slide 10: H1 FY23 Footfalls, Occupancy, ATP, SPH
l"l llifi ,1· c-;.. . I :; .,,, FOOTFALLS OCCUPANCY% ATP SPH H1 FY23 300Lakh 23% `224 `98 17% 7% 14% 23% H1 FY20 363Lakh 30% `197 `80 Footfalls with management properties is 314lakh/381lakh for H1FY23/H1FY20 respectively FY21& FY22 were COVID-19 impacted hence compared with H1FY20 9
Slide 11: Ind AS 116 Impact on Profit & Loss
IND AS 116 IMPACT ON PROFIT & LOSS !.:.~'.!":~. ,. ::~~~ ~ Q2FY23 Q2FY20 Q1FY23 .. ,.......................................r...................................... H1FY23 H1FY20 .. Consolidated Profit & Loss ........................................ )"....................................... . . .. . .
Slide 12: Balance Sheet
BALANCESHEET IN t X LIVE //,, MOVIE ~~ Q5eS) OF FIC IAL SPONSOR OF TH E IND IA N OL YMP I C TEAM Consolidated Balance Sheet [In ₹ Cr] Sep-22 Mar-22 Sources of Funds Share Capital 122 122 STRO [+]Other Equity 588 570 Balance S Total Equity 710 693 [+]Gross Debt 78 86 [+]Lease Liability 2,966 2,862 ₹
Slide 13: Operational Fixed Cost
~ .. OPERATIONAL FIXED COST IN • X LIVE //,, MOVIE ~~ Q5eS) OF FIC IAL SPONSOR OF TH E IND IA N OL YMP I C TEAM Employee Benefit Expense Power & Fuel, R&M 180 .0 160 .0 140 .0 - (Incl. Agency Manpower) Employee Benefit Expense (₹ Cr) 25.4 Per Screen (₹ lacs) 27% 25.0 150 .0 130 .0 110 .0 - Power & F
Slide 14: Distributor Share and F&B Contribution
DISTRIBU !.:.~'.!":~. ,. : ~~~ ~ Distributor Share to NBOC % F&B Contribution % 80.0% 70. 0% 79.0% 60. 0% 77.2% 78.0% 43.5% 43.5% 43.7% 43.9% 50. 0% 76.3% 77.0% 75.5% 40. 0% 75.2% 76.0% 30. 0% 75.0% 20. 0% 74.0% 10. 0% 73.0% r r 0.0 % 72.0% Q2FY20 Q2FY23 H1FY20 H1FY23 Q2FY20 Q2FY23 H1FY20 H1FY23 DIS
Slide 15: Shareholding Structure
~ .. SHAREHOLDING STRUCTURE IN • X LIVE //,, MOVIE ~~ Q5eS) OF FIC IAL SPONSOR OF TH E IND IA N OL YMP I C TEAM Market Data As on 14-Oct-22 Share Price Performance No. of Shares Outstanding (Cr) 12.2 700 600 Face Value ( ₹ ) 10.0 500 Price ( ₹ ) 499.45 400 300 52 week High/Low ( ₹ ) 622.30/340.80 20
Slide 16: New Property Opening Q2FY23
NEW PROPERTY OPENING Q2FY23 - 13 SCREENS I 2,072 SEATS EMERALD MALL, LUCKNOW INOX SRINAGAR, KASHMIR 10 SCREENS 11550 SEATS 3 SCREENS I 522 SEATS OPENED ON 12TH AUGUST 2022 OPENED ON 30TH SEPTEMBER 2022 15
Slide 17: Pan India Presence
PAN INDIA PRESENCE 1,57,290 20 18 STATES & 2 UNION TERRIT!lllES 74 CITIES 165 PROPERTIES 705 SCREENS SEATS! J&K | 1 Properties | 3 Screens SCREENS ZONE WISE PUNJAB | 3 Properties | 13 Screens UTTAR PRADESH | 13 Properties | 64 Screens DELHI | 5 Properties | 16 Screens JHARKHAND | 2 Property | 8 Scre
Slide 18: Proposed Acquisition of Luxe Cinemas
Pad1anallur U IT !J>6U@JTIJ I • INOX proposes to acquire Luxe Cinemas on Slump Sale basis (which is subject to legal, regulatory, contractual and customary aattu UL@ 716 approvals (as applicable) and the completion of the agreed Avadi conditions set out in the agreement). ~6UL9- • Luxe cinemas is sp
Slide 19: Screen Outlook for FY23
SCREEN OUTLOOK FOR FY23 IN • X LIVE //,, MOVIE ~~ Q5eS) OF FIC IAL SPONSOR OF TH E IND IA N OL YMP I C TEAM FY23 Openings /Upcoming Openings Properties Screens Seats Properties/Cities Opening Date Properties Screens Seats Upto FY22 160 675 1,52,173 Properties Opened FY23 [+]FY23 Openings till date 5
Slide 20: All India Net Box Office Collection
₹ ₹ ₹ ₹ *Above figures are All INDIA Net Box Office collection from various websites/Industry Sources. ₹ ₹ ₹ 19
Slide 21: Upcoming Movie Pipeline
UPCOMING MOVIE PIPELINE IN • X LIVE //,, MOVIE ~~ Q5eS) OF FIC IAL SPONSOR OF TH E IND IA N OL YMP I C TEAM Black Adam PRINCE IN THEATRES (TAMIL) DIWALI 2022 SARDAR (TAMIL) Cast: Dwayne Cast: Cast: Karthi, Raashi Johnson, Sarah Sivakarthikeyan, Khanna, Rajisha Vijayan Shahi, Pierce Brosnan Maria Rya
Slide 22: Upcoming Movie Pipeline
UPCOMING MOVIE PIPELINE IN • X LIVE //,, MOVIE ~~ Q5eS) OF FIC IAL SPONSOR OF TH E IND IA N OL YMP I C TEAM Mili PHONE BHOOT UUNCHAI NAIi[ MIUNAUOIYAL IGE: 24YEAIIS Cast: Janhvi Kapoor, Cast Katrina Kaif, Cast: Amitabh lllllftl!DI: B.Sc. NURSING GRADUATE Vikram Kochhar, Ishaan Khatter, Bachchan, Dan
Slide 23: Upcoming Movie Pipeline
UPCOMING MOVIE PIPELINE IN • X LIVE //,, MOVIE ~~ Q5eS) OF FIC IAL SPONSOR OF TH E IND IA N OL YMP I C TEAM PIPPA Vaathi [Tamil] AVATAR : THE WAY OF WATER (IMAX Cast: Ishaan Cast: Dhanush, 3D) Khatter, Mrunal Tanikella Bharani Thakur, Priyanshu Cast: Sam Worthingto, Painyuli, Soni Director: Venky At
Slide 24: Results Update Q2&H1 FY23
---- RESULTS UPDATE Q2&H1 FY23 23
Slide 25: Aggressive Movie Marketing
AGGRESSIVE MOVIE MARKETING INS "ap" (RESULTS — —_—_ MOVIE PROMOTIONS STAR VISITS 24
Slide 26: Audience Outreach and Sponsorships
INDIAN DEAF CRICKET TEAM DICC T20 CHAMPIONS TROPHY 2022 > IN AJMAN, UAE & LIVE ON ICC. TV “4.~#DareToDream VIRENDER SINGH CAPTAIN INDIAN DEAF CRICKET TEAM #AmulChocolateAtINOX Chookega Nahin WATCH VIDEO IN€eX ‘TEAM INDIA live @Movie (OFFICIAL SPONSOR OF TEAMINDIA 25}
Slide 27: Liquidity Position
The liquidity position is very strong. As on 16th Oct'22, we have close to 292cr lincluding undrawn limit of 2 125cr) INOX owns 6 cinema properties and a head office. As per market valuation, if required, we can raise close to 2400 cr by doing a ‘sale-lease back’ of these properties As on 16" Oct'22
Slide 28: Annexure
A XU 27
Slide 29: Consolidated Balance Sheet (Including Ind AS 116)
CONSOLIDATED BALANCE SHEET (INCLUDING INDAS 116) !.:.~'.!":~. ,. ::~~~ ~ Equity & Liabilities [In ₹ Cr] Sep-22 Mar-22 Assets [In ₹ Cr] Sep-22 Mar-22 Equity: Non-Current Assets: Equity Share Capital 122 122 Property, Plant & Equipment 926 928 Other Equity 588 570 Capital work-in-progress 57 26 Total
Slide 30: Consolidated Profit & Loss (Including Ind AS 116)
CONSOLIDATED PROFIT & LOSS (INCLUDING INDAS 116) !.:.~'.!":~. ,. ::~~~ ~ Particulars [ In ₹ Cr] Q2FY23 Q2FY20 Var % Q1FY23 QoQ % H1FY23 H1FY20 YoY % Total Revenue 381 524 -27% 589 -35% 970 1,020 -5% Exhibition Cost 95 139 -32% 159 -40% 254 269 -6% Food & Beverages Cost 26 35 -26% 36 -28% 62 68 -9% E
Slide 31: Track Record of Aggressive Expansion
~ ~ TRACK RECORD OF AGGRESSIVE EXPANSION ~:.~:~w:~. ,. ::~:: ~ 705 - screens Properties 160 165 L{') r-- L{') 0 r-- ~ N co 0) 63 0 ~ s;;I'" s;;I'" N N s;;I'" r-- 0 M 22 0) ....-1 r-- L{') r-- M N N 0) ....-1 ....-1 ....-1 ~ co r-- 0) - I I I L{') L{') L{') N N M co - ....-1 ■ I <t-'-:)"' <t-~ <t-'-:
Slide 32: Well Diversified Presence Across India
· · • WELL DIVERSIFIED PRESENCE ACROSS INDIA !.:.~'.!":~. ,. ::~~~ ~ 165 Properties 74 Cities • WELL DIVERSIFIED South, 35, East, 26, 16% South, 18, East, 11, 15% 21% 24% DISTRIBUTION OF MULTIPLEXES ACROSS INDIA West, 23, • ACCESS TO WIDE West, 57, 31% North, 47, 35% VARIETY OF 28% North, 22, 30% RE
Slide 33: Investor Relations & Business Analysis
"VP~ INVESTOR RELATIONS & BUSINESS ANALYSIS’ [email protected] y a7