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Tag: Cinemax India

  • Double act as Verma and Barjatya take charge in exhibition industry

    Double act as Verma and Barjatya take charge in exhibition industry

    MUMBAI: In a week that felt more like a blockbuster premiere than a boardroom shuffle, the exhibition industry welcomed two new leading men to its executive cast. Gautam Verma announced his new role as chief digital officer at a prominent exhibition firm, bringing with him a wealth of experience in digital transformation and strategic planning. Verma’s appointment signals a push towards integrating cutting-edge technology into exhibition experiences, aiming to enhance engagement and reach.

    Meanwhile, Sanjay Barjatya has been promoted to chief executive officer at Roongta Cinemas, a division of Roongta Entertainment Limited. With over 19 years in the entertainment sector, Barjatya’s ascent reflects his deep understanding of cinema operations and audience preferences. His leadership is expected to drive Roongta Cinemas into a new era of innovation and expansion.

    For Verma, who officially assumed his new role in May 2025, this marks a sharp pivot from healthtech to travel. Prior to joining Travelwings, he was a founding member and marketing lead at Eka.care, where he spent over four years building integrated marketing strategies in the healthcare space. Before that, he co-founded Adapts Media and held marketing roles at DAMAC Properties in the UAE, gaining strong experience in business strategy, SEO, and international campaigns.

    Meanwhile, Barjatya’s journey through the exhibition sector reads like a manual in operations mastery. Starting out at PVR in 2004, he steadily climbed the industry ladder with stints at M2K Cinemas, Cinemax India, OSR Cinemas, Miraj Entertainment, and now Roongta. From managing two-screen properties to overseeing regional operations and business development across India, his portfolio boasts multi-theatre P&L management, developer relations, and expansion strategy. He served as VP of Roongta before being named CEO in September 2024.

    In an industry where the spotlight is often on the show, it’s the strategic minds behind the scenes that set the stage for success.

  • PVR Q3 consolidated net remains flat at Rs 88.9 mn

    PVR Q3 consolidated net remains flat at Rs 88.9 mn

    MUMBAI: Film exhibitor and production company PVR consolidated net profit remained flat at Rs 88.9 million for fiscal third quarter ending 31 December compared to Rs 89.2 million in the corresponding fiscal.

     

    The consolidated revenues for the quarter went up by 43 per cent to Rs 2.02 billion as compared to Rs. 1.41 billion during the corresponding period of last year. Consolidated Ebitda for the quarter was up by 34 per cent to Rs 354.3 million as against Rs 263.8 million.

     

    On a standalone basis, PVR’s exhibition business posted a net profit of Rs 142.2 million including a one time profit of Rs 33.3 million.. Ebitda increased by 43 per cent to Rs. 345.2 million as compared to Rs 241 million in corresponding period of last year.

     

    The exhibition business revenue increased to Rs 1.88 billion from Rs 1.28 billion in the same period last year, up 46 per cent.

     

    PVR MD Ajay Bijli said, “We are extremely pleased that 2012 is shaping up as a great year at the box office. The revenues and profitability in the quarter and nine months has shown a robust growth over the same period last year. The good results is also a function of Company’s long term location strategy to partner in best mall developments in the country, its unique design philosophy, strong customer focus and a unique brand positioning. “

     

    On 8 January, PVR had completed the acquisition of 69.27 per cent stake in Cinemax India from its erstwhile promoters.

     

    In compliance with Sebi Takeover Code, the company has announced an open offer to shareholders of Cinemax India Limited for an additional 26 per cent stake, and the tendering period shall commence on 4 February.

     

    Consequent to the said acquisition, Cinemax India has now become a subsidiary of PVR. On a combined basis, PVR and Cinemax will have a network of 351 screens spread over 85 properties in 36 cities across the country.

     

  • L&T Finance picks up 11.42 per cent stake in PVR

    L&T Finance picks up 11.42 per cent stake in PVR

    MUMBAI: L&T Finance, the financial services arm of infra major L&T, has picked up 3.29 million shares in PVR representing 11.42 per cent equity for Rs 288.4 million by invoking pledged shares.

    On 13 December, Priya Exhibitors, one of the promoter company, had revoked its entire pledging of 4.1 million shares to India Bulls Finance.

    PVR had recently received approval from its shareholders to borrow up to Rs 10 billion.

    It had recently bought the entire 69.27 per cent promoter stake in Cinemax India for Rs 3.95 billion, which will make it the biggest multiplex operator in the country. The deal valued Cinemax at Rs 5.7 billion.

    PVR would take complete control over Cinemax through an open offer with the backing of private equity investors which will culminate in the delisting of the company’s shares.

    Under the preferential issue of equity shares in PVR Limited, Multiples will invest an amount of approximately Rs 1.53 billion, L Capital would invest approximately Rs 823 million and Promoters would invest approximately Rs 250 million into PVR.

    Post the above dilution, both Multiples Private Equity and L Capital would own approximately 15.8 per cent stake each in the company and the Promoters will hold 32 per cent stake in the Company.

  • Cinemax to release Land Gold Women on 2 December

    Cinemax to release Land Gold Women on 2 December

    MUMBAI: Cinemax India is all set to release Land Gold Women pan India on 2 December. Land Gold Women is the maiden venture by production house A Richer Lens that is led by Producer Vivek B Agrawal and writer-director Avantika Hari Agrawal.

    Speaking on the partnership, Cinemax CEO Sunil Punjabi said "We at Cinemax feel honoured to offer such a talented filmmaker a platform to showcase her maiden project, a film of this ranking that has placed India on the global map.

    "The entry of movies like Land Gold Women that invoke serious discussions, is an onset of change in the audience‘ perception, along with the industry‘s growing acceptance towards different cinema."

    This Anglo-Indian collaboration, which includes a British cast, and crew of eight different nationalities highlights the evil of honour crime, which is rampantly practiced across the globe.

    The film recently won this year‘s Annual Humanitarian Award at The Indie Fest 2011, the Holy Grail for global independent filmmakers.

    With the larger objective of creating awareness about the issue of honour violence, the makers of the film have had screenings across several colleges in Mumbai and have interacted with more than 10,000 students on the subject.

  • Cinemax launches 3-screen multiplex in Surat

    Cinemax launches 3-screen multiplex in Surat

    MUMBAI: Multiplex chain operator, Cinemax India, is launching a three-screen multiplex at Surat.


    The new multiplex will be open to the patrons with screening of movie “Rascals” and has the capacity of 716 seats including 17 recliner seats.


    With the above said launch, the company will have a pan India presence with 126 screens and 31,491 seats across 37 properties.
     

  • ‘Consolidation in the multiplex sector will happen when the real value of the business is captured’ : Cinemax India senior vice president business strategy Devang Sampat

    ‘Consolidation in the multiplex sector will happen when the real value of the business is captured’ : Cinemax India senior vice president business strategy Devang Sampat

    Cinemax India Ltd entered into the multiplex business with a cluster approach, concentrating on Mumbai and the Maharashtra market. Running a cinema chain with 76 screens, it has a load of 40 screens in Mumbai and 18 across rest of Maharashtra.

     

    The thrust now is to build a national footprint with focus on locations that would give it an advantage. The expansion plan is to have 300 screens over a period of three years.

     

    Facing a slowdown, the immediate task is to add 60 screens in FY‘11 with an investment of Rs 1 billion. Cinemax will also push digital technology and expand its gaming zones.

     

    Cinemax has plans to raise funds but is not in a hurry. Promoted by real estate developers, it has an asset bank and can leverage it to raise debt. The company has a debt of Rs 750 million and the debt to equity ratio is 1:2.

     

    Cinemax is not keen on film distribution as it is a risky business. But it is readying to enter into film production and is waiting for the right script.

     

    In an interview with Indiantelevision.com‘s Sibabrata Das and Ashish Mitra, Cinemax India senior vice president business strategy Devang Sampat says consolidation will take time as average occupancy needs to rise from 24 per cent to 32 per cent and profit margins improve.

     

    Excerpts:

     
     
    Cinemax had indicated earlier that it would expand its screens to 300 over a period of three years. Has the economic downturn affected the growth plans?
    There is a slowdown for all multiplex operators as the mall developers are not pacing up. We will be taking our total number of screens to 100, from 74 in the year-ago period (earlier guidance was addition of 40 screens during the fiscal). We have closed down three screens in Faridabad as the mall wasn‘t taking off. But we are not revising our three-year target of 300 screens.
     
     

    Are you scaling down your investments in the short run?
    For the current fiscal, we are investing Rs 600 million. We will be adding 60 screens in FY‘10 and our investment requirement is Rs 1 billion.
     
     

    Will you be raising funds for this?
    We will take a call in December. We are not in a hurry and will raise money when we need it. With the promoters being real estate developers, we also have an asset bank which we can leverage.
     
     

    Wouldn‘t you like to retire some of the high-cost debt?
    We have a debt of Rs 750 million. The debt to equity ratio is 1:2. There is room to leverage and we are not facing any fund constraints.
     

     
    Cinemax has concentrated its multiplexes in Mumbai and Maharashtra. Will the spread out now be more national?
    Initially when we ventured into the business, we took a cluster approach in Mumbai. Now during the course of our expansion, the focus will be on going to good locations. In the multiplex business, location is king.
     
     

    ‘We will definitely get into film production. We are ready and are waiting for the right script. We feel this will complement our exhibition business‘
     

     
    Will you look at acquisitions or you feel the industry is not ready yet for consolidation?
    The industry has an average occupancy rate of 24 per cent. Unless this goes up to 32 per cent, the real numbers don‘t come up. The profit margins stay low. Consolidation will happen when the real value of the business is captured. Being real estate developers, the promoters decided to foray into multiplex as part of their retail business. The capital cost for Cinemax will, thus, be comparatively lower and the promoters have a better understanding of locations.
     
     

    How could Cinemax achieve operational break-even during the quarter when film producers froze fresh Bollywood content to multiplexes?
    This was primarily due to three reasons. Our presence is predominantly in Mumbai and Maharashtra. Secondly, there were some Marathi films that released during this period and they fared well at the box office. Thirdly, we own some properties, reducing the impact of the expenditure on lease rentals.

     

    We expect to clock Rs 2 billion this fiscal, up from Rs 1.54 billion a year ago.
     
     

    But the first quarter turnover was weak?
    We expect contributions to come from the new properties in the third and fourth quarters. The existing properties should give us a revenue of Rs 500 million in each quarter. Don‘t forget that the Khans (Salman, Shah Rukh and Aamir) will make their appearance from the third quarter onwards. As for profitability, we will maintain the same percentage as the last fiscal.
     
     

    Do you see a change in the revenue mix in the near future?
    We expect the Food & Beverage (F&B) segment to contribute 20-22 per cent in FY‘11, up from 18 per cent. Advertising income should go up from 8 per cent to 10 per cent. Currently, box-office collections account for 69 per cent of our total revenues and gaming zone and others six per cent.
     
     

    Having entered into film distribution, is Cinemax also looking at venturing into production?
    We will definitely get into film production. We are ready and are waiting for the right script. We feel this will complement our exhibition business.

     

    We distributed two films – Kismat Konnection and Singh Is Kinng. We managed to break even. But this is a risky business and we are not keen on it.
     

     
    What are the digital steps Cinemax is taking?
    Digital technology helps reduce piracy and enables 3D viewing. This will lead to an increase in the share of Hollywood movies released in India and, in turn, to higher ticket prices. We have introduced digital technology in 24 screens.

     

    We are also looking at augmenting our revenues from gaming. We have introduced gaming zones in six places and are planning to expand it to our other theatres.
     

     

    Does Cinemax have plans to set up cinema theatres overseas?
    We have no such plans.