Pvr Inox Limited · NSE:PVRINOX

Pvr Inox — PVR — Investor Presentation (August 2016)

29 slides from Pvr Inox's investor presentation, August 2016

  1. Slide 1: Investor Presentation August 2016

    INVESTOR PRESENTATION August 2016

  2. Slide 2: Disclaimer

    Disclaimer Safe Harbor: - Some information in this report may contain forward-looking statements. We have based these forward looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future. Such statements generally are ide

  3. Slide 3: Company Overview

    Company Overview 75 1  India’s largest cinema chain 1 Million 557 Screens Guests  Leadership position in India with approx. 35% share of Hollywood Box Office and approx. 22% share of Bollywood Box Office 121 48 Theatres Cities  5 mn sq.ft of operational retail space, another 3 mn sq.ft under deve

  4. Slide 4: Largest Multiplex Chain in India

    LARGEST MULTIPLEX CHAIN IN INDIA HARYANA 8 Properties| 29 Screens DELHI 14 Properties| 47 Screens CHANDIGAR! 3 Properties|15 Screens, PUNJ 7 Properties | 39 screens RAJASTHAN’ 1 Property | 4 screens MADHYA PRADESH 3 Properties | 11 screens, GUJARAT 11 Properties | 48 screens MAHARASHTRA 35 Propertie

  5. Slide 5: India – A High Growth Box Office Market

    India – A High Growth Box Office Market  Movie going is the number 1 entertainment option for people in India  Largest number of movies released in the world (1,000 movie releases and over 1.93 billion movie goers annually) 1  Domestic box office collections contribute almost 3/4th of the film in

  6. Slide 6: India – A High Growth Box Office Market

    India – A High Growth Box Office Market 227 208 190  Industry is projected to grow @ 10% CAGR in next 5 years 174 159 138 2015 2016(E) 2017(E) 2018 (E) 2019(E) 2020(E) Source: KPMG FICCI Report 2016  6th Largest movie market in the world Source: MPAA Theatrical Market Statistics Report 2015 6

  7. Slide 7: India – A High Growth Box Office Market

    India – A High Growth Box Office Market 6 23 27 58  Under screened market with huge potential for growth 60 84 87 123  Modern day Multiplexes are growing & single screens are shutting down Source: CRISIL Research Report May, 2015 7

  8. Slide 8: Our Key Strengths

    Our Key Strengths Diversified Product Offerings Strong Location Premium & Product guest Strategy experience Comfort & PVR Cutting Edge Convenience Technology Leader in Ad Best in class revenues concessions 8

  9. Slide 9: Diversified Product Offerings

    Diversified Product Offerings  7 Star movie experience along with fine dining 4 Screens  One of a Kind movie experience  Luxurious comfortable Reclining seats  Gourmet menu with live kitchen 28 Screens  Intended for an audience who desire a great, exclusive experience  Premium seating 119 Scre

  10. Slide 10: Strong Location and Product Strategy

    Strong Location and Product Strategy  “A+ Site” real estate locations providing competitive advantage  Anchor tenant in more than 50% of top 20 Malls in India  5 mn sq.ft. of existing real estate with another 3 mn signed for future rollout  Opened 52 screens in FY15-16, acquired 32 screens of DT

  11. Slide 11: Cutting Edge Technology

    Cutting Edge Technology DIGITAL SCREENS  100% Digital Screens using 4K and 2K DCI compliant projectors 4DX Technology  Revolutionary cinematic experience stimulating all five senses Playhouse  Dream world for kids with child themed colorful wall art  Bean bag sitting sets and Audi slider & handp

  12. Slide 12: Highest Admissions Per Screen Across The Globe

    Highest Admissions Per Screen Across The Globe ADMISSIONS ADMISSIONS Cinema Chains (000) SCREENS PER SCREEN (000) PVR1 69,600 516 135 US & MEXICO MARKET Regal2 217,000 7,307 30 AMC2 197,000 5,426 36 Cinemark2 264,000 5,840 45 Carmike2 59,100 2931 20 Cinepolis3 116,900 3,000 39 ASIA MARKET Major- Tha

  13. Slide 13: Best in Class Concessions

    Best in Class Concessions  Enhanced F&B offerings F&B Spend per patron (INR)  Highest F&B spend per patron 72 64 53 46 40 FY11-12 FY12-13 FY13-14 FY14-15 FY15-16 13

  14. Slide 14: Best in Class Concessions

    Best in Class Concessions  Huge potential for growth PVR International Chains F&B Spend Per Head as a % of F&B Spend Per Head as a % Average Ticket Price 38% of Average Ticket Price 36% 59% 42% 48% 32% 31% 36% 27% 29% 28% 25% CJ CGV Major Cineworld Regal AMC Cineplex Cineplex Korea Thailand UK USA

  15. Slide 15: Strong Same Store Growth

    Strong Same Store Growth Quarter Gross Box Admits ATP SPH Gross F&B Ended Office June’16 1% 5% 6% 4% 5% Mar’16 18% 9% 27% 17% 35% Dec’15 -1% 9% 8% 12% 11% Sept’15 14% 4% 18% 10% 24% June’15 16% 5% 21% 16% 32% 5 consecutive quarters of impressive same store growth 15

  16. Slide 16: Leader in Advertisement Revenues

    Leader in Advertisement Revenues  Premium brand recognition leading to pricing premium Advertisement Revenue1 (INR mn)  Partnership with multiple brands across sectors 2,145 1,771  Advertisement revenues 2X of the nearest competitor 1,517 859 654 531 FY10-11 FY11-12 FY12-13 FY13-14 FY14-15 FY15-1

  17. Slide 17: Comfort and Convenience – Rising Online Penetration

    Comfort and Convenience – Rising Online Penetration 200 50%  Online ticket booking is extremely convenient, saves time and make 34% 39% 40% cinemas more accessible to consumers 150 26% 30% 19% 20%  PVR’s own mobile app allows consumers to select movie, cinema, 100 10% time slot, seat and also pre

  18. Slide 18: Q1, FY16-17 Performance Snapshot - Consolidated

    Q1, FY16-17 Performance Snapshot - Consolidated Q11 FY 15-16 Revenue Mix Particulars (INR mn) FY 2016-17 FY 2015-16 Growth F&B Sponsorship Income 5,702 4,860 17% 25% Revenues 11% Expenses 4,536 3,754 21% Other Operating Profit 1,167 1,107 5% Businesses 7% Operating Profit Margin 20.5% 22.8% -2.3% Ot

  19. Slide 19: Box Office Performance – FY 2015-16 and Q1 FY 2016-17

    Box Office Performance – FY 2015-16 Net Box Office (INR mn) Admits (mn) & Occupancy (%) Average Ticket Price1 (INR) 34.6% 192 34.6% 31.2% 188 10,143 23% 70 7% 60 11% 31.5% 18% 59 5% 8,245 54 180 178 FY15-16 FY14-15 FY15-16 FY14-15 FY15-16 FY14-15 FY15-16 FY14-15 FY15-16 FY14-15 Comparable Total Comp

  20. Slide 20: F&B Performance – FY 2015-16 and Q1 FY 2016-17

    F&B Performance – FY 2015-16 Net F&B (INR mn) Spend Per Head (INR) COGS 4,667 34% 73 72 14% 28.8% 3,482 13% 64 64 -3.9% 24.9% FY15-16 FY14-15 FY15-16 FY14-15 FY15-16 FY14-15 Comparable Total FY15-16 FY14-15 F&B Performance – Q1, FY 2016-17 Net F&B (INR mn) Spend Per Head (INR) COGS 78 1,475 14% 77 2

  21. Slide 21: Revenue & Expenditure Analysis – FY15-16

    Revenue & Expenditure Analysis – FY15-16 12 Months (INR mn) Fixed Overheads (% of Total Income) 783 2,065 10.3% 478 9.5% 4,667 1,687 17.2% 19.7% 3,482 3.9% 4.1% 11.3% 13.8% 10,143 8,245 7.9% 5.7% FY15-16 FY14-15 FY15-16 FY14-15 Other Expenses CAM & Electricity Repair & Maintenance Rent Net Box Offic

  22. Slide 22: ROCE Analysis - As on 31st Mar, 2016

    ROCE Analysis - As on 31 st Mar, 2016 1. Properties > 2 years - Stabilized 2. Properties < 2 years – Yet to Stabilize 3. Properties under construction After Allocation of Corporate Net Capital Property Level Particulars (INR Lacs) Revenue Overheads Employed EBIT ROCE EBIT ROCE Properties > 2 years (

  23. Slide 23: Consolidated Balance Sheet

    Consolidated Balance Sheet Particulars (INR mn) March 31, 2016 March 31, 2015 Gross Debt / EBITDA Total Shareholder funds 8,695 4,092 (Consolidated) Share Capital 467 415 3.6 Reserves & Surplus 8,228 3,677 1.8 Minority Interest & Others 401 383 As on 31st Mar'16 As on 31st Mar'15 Total Debt1 6,623 7

  24. Slide 24: GST - Game changer for the Exhibition Industry

    GST - Game changer for the Exhibition Industr y  GST will replace the multiciplity of taxes such as Entertainment Tax, VAT and Service Tax with one single GST rate  Will benefit from reduction in effective indirect tax rate  Input tax credit will be available for set off against the output tax li

  25. Slide 25: Robust Growth

    Robust Growth Properties Screen 112 516 97 104 464 85 421 351 33 38 144 166 FY11 FY12 FY13 FY14 FY15 FY16 FY11 FY12 FY13 FY14 FY15 FY16 Cities Footfalls (mn) 46 70 42 39 60 59 34 22 37 18 25 20 FY11 FY12 FY13 FY14 FY15 FY16 FY11 FY12 FY13 FY14 FY15 FY16 25

  26. Slide 26: Strong Financial Performance

    Strong Financial Performance Revenues (INR mn) EBITDA (INR mn) 3,582 18,971 13,588 14,859 2,230 2,097 8,154 1,259 4,699 5,298 993 858 FY11 FY12 FY13 FY14 FY15 FY16 FY11 FY12 FY13 FY14 FY15 FY16 PAT (INR mn) 1,193 443 504 252 116 3 FY11 FY12 FY13 FY14 FY15 FY16 26

  27. Slide 27: Superior Financial Performance vs Competition

    Superior Financial Performance vs Competition Revenues (INR mn) EBIDTA (INR mn) 18,971 64% 63% 3,582 84% 14,860 60% 11,632 2,097 1,942 9,036 1,310 FY14-15 FY15-16 FY14-15 FY15-16 PVR INOX PVR INOX EBIDTA per screen (INR mn) Revenue per screen (INR mn) 22% 39% 32% 6.5 34.2 28.3 28.2 25% 4.7 21.5 3.9

  28. Slide 28: Superior Operating Performance vs Competition

    Superior Operating Performance vs Competition Admits (mn) & Occupancy (%) ATP 1(INR) 31% 35% 29% 25% 188 70 11% 59 178 9% 53 41 170 164 FY14-15 FY15-16 FY14-15 FY15-16 PVR INOX PVR INOX SPH (INR) Sponsorship Revenues (INR mn) 16% 25% 72 2,145 136% 64 1,771 117% 55 58 815 910 FY14-15 FY15-16 FY14-15

  29. Slide 29: Thank You!

    THANK YOU !

PVR — Investor Presentation (August 2016) on 6ix