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Tag: INOX Leisure Limited

  • Inox Leisure reports Rs 706 crore revenues in FY22

    Inox Leisure reports Rs 706 crore revenues in FY22

    Mumbai: Inox Leisure Ltd has announced the results for the financial year (FY) 2021-2022 as well as the fourth quarter (Q4) ended on 31 March. The company’s total revenues for the year stood at Rs 706 crore and earnings before interest, taxes, depreciation and amortisation (EBIDTA) at Rs 87 crore. The company reported profit after tax (PAT) of Rs 164 crore.

    Inox reported advertising revenues of Rs 34 crore “indicating a revival in the preference for cinema advertising,” said the statement.

    The company added another 32 new screens during the financial year and plans to add another 16 properties with 77 screens in FY2. Inox operates 161 multiplexes with 681 screens across 72 cities.

    Inox Leisure reported that 23 million guests visited its cinema properties in FY22 and it recorded its highest ever average ticket price (ATP) of Rs 217 against Rs 170 in the previous financial year. The company also reported highest ever spends per head of Rs 91 up from Rs 77 in the previous FY.

    Inox reported revenues of Rs 325 crore in Q4 FY22 with EBIDTA at Rs 21 crore and PAT at Rs 12 crore. During the quarter exhibited blockbuster films such as “Valimai,” “Bheemla Nayak,” “Gangubai Kathiawadi,” “The Kashmir Files,” “Radhe Shyam,” and “RRR.” Its ATP for the quarter stood at Rs 218 and spends per head stood at Rs 86 whereas occupancy stood at 24 per cent. The company stated that 11 million guests visited Inox cinemas during the quarter. In March 2022, the company reported its highest ever box office and food and beverage (F&B) collection in a single month.

    During the quarter, the company launched a digital wallet called Inox InstaPay that enabled users to make ticket and F&B purchases in return for rewards. It also announced a merger with India’s leading cinema exhibition chain PVR.

  • Inox launches digital wallet ‘InstaPay’

    Inox launches digital wallet ‘InstaPay’

    Mumbai: Multiplex chain Inox Leisure Ltd (Inox) on Friday launched a payment wallet called ‘InstaPay’ in the presence of actor John Abraham.

    The digital wallet can be used on the Inox website, mobile app, or at the box office and concession counters to make payments for film tickets and food and beverage purchases across Inox multiplexes in India, said the national multiplex chain in a statement. 

     

    “InstaPay wallet users will be able to avail specially curated offers by Inox including vouchers and other rewards,” it added.

    “As a torchbearer of technology and digital interventions in the cinema exhibition sector, we are proud to offer yet another customer-centric feature in the form of InstaPay,” said Inox Leisure Ltd chief executive officer Alok Tandon. “We aim to strengthen our bond with an enhanced affinity which would come with the use of a convenient feature like a wallet. It would also help us to understand the user behavior in a better manner, and allow us to roll out curated offers and experiences on the basis of their consumption patterns.”

  • Multiplex giants PVR, Inox announce merger to combat OTT onslaught

    Multiplex giants PVR, Inox announce merger to combat OTT onslaught

    Mumbai: Top multiplex chains PVR Ltd and Inox Leisure Ltd have announced a merger following a meeting of their board of directors on Sunday. The combined entity, called PVR Inox Ltd, will become the largest film exhibition company in India operating 1546 screens.

    “The merged entity would be able to strongly counter the advent of various OTT platforms and the after effects of the pandemic,” the two companies said in an exchange filing.

    The merger will be an all-stock amalgamation subject to approval of the shareholders of PVR and Inox respectively, stock exchanges, Sebi and such other regulatory as may be required.

    Post the merger, the promoters of Inox will become the co-promoters in the merged entity along with existing promoters of PVR. The board of directors of the merged company will be reconstituted with a total board strength of ten members and both the promoter families having equal representation on the board with two seats each. PVR promoters will have 10.62 per cent stake while Inox promoters will have 16.66 per cent stake in the combined entity.

    When the merger becomes effective, shareholders of Inox will receive shares of PVR in exchange of shares in Inox at the approved share swap ratio. Inox shareholders will receive three shares in PVR for ten shares of Inox.

    It was also decided that PVR chairman Ajay Bijli will lead the combined entity as managing director and Sanjeev Kumar will be the executive director.

    Inox Group chairman Pavan Kumar Jain will be named as non-executive chairman of the board, and Siddharth Jain will serve as non-executive non-independent director in the combined entity.

    “This is a momentous occasion that brings together two companies with significantly complementary strengths,” said PVR’s Ajay Bijli. “The partnership of these two brands will put consumers at the center of its vision and deliver an unparalleled movie going experience to them. The film exhibition sector has been one of the worst impacted sectors on account of the pandemic and creating scale to achieve efficiencies is critical for the long-term survival of the business and fight the onslaught of digital OTT platforms.”

    “Coming together of two iconic cinema brands, which are driven by passion, is certainly the most historic moment in the Indian cinema exhibition industry,” stated Inox Leisure director Siddharth Jain. “Both companies have set high service benchmarks in an endeavour to offer the best cinema experience in the world, to the most passionate moviegoers, and would continue to do so as a unified entity. As we head into the industry’s revival amidst headwinds, this decisive partnership would bring in enhanced productivity through scale, a deeper reach in newer markets and numerous cost optimisation opportunities, and continue to delight cinema fans with world-class experiences and landmark innovations.”

  • INOX deploys Dolby Multichannel Amplifiers

    INOX deploys Dolby Multichannel Amplifiers

    MUMBAI: Cinema chain INOX Leisure Limited (INOX) today extended its strategic partnership with Dolby, a leader in immersive entertainment experiences to provide the best in class cinema solutions. With Dolby Atmos screens already present at INOX multiplexes across the country, INOX today announced that it will be deploying Dolby’s latest and best in class Dolby Multichannel Amplifiers (DMA). In the process, INOX will be the first Indian cinema chain to acquire the versatile DMA.

    The DMA’s are D Class digital amplifiers which have a smaller footprint that can save a lot of rack space and hence real estate, air conditioning and power consumption. Using DMAs in the audio chains escalates audio reproduction without distortion making the experience better than best. These new-generation amplifiers also bring other benefits like ease of connectivity, less cabling, robust design, built-in redundancies for uninterrupted playback, ability to monitor the health of the amplifiers over central NOC, and also the ability to compensate for a failed speaker till replacement, ensuring consistent and high-end experience for patrons what they expect from INOX.

    INOX has been extremely aggressive in pioneering cinema technologies into the country in order to enhance the cinema-viewing experience of its patrons. A testimony INOX’s technology focus is INOX Megaplex, the world’s first cinema with six different cinema viewing formats. Located at Inorbit Mall, Mumbai, INOX Megaplex houses IMAX, Samsung Onyx LED, ScreenX, MX4D and INSIGNIA formats. INOX also offers Laser Projection and Dolby Atmos experience to its patrons.

    INOX Leisure Ltd CEO Alok Tandon said: “Technology is the cornerstone of our business strategy, and cinema sound plays an extremely critical part in the overall cinema-viewing experience. I am delighted to share that we are further strengthening our association with Dolby with the acquisition of Dolby’s multi-channel amplifier. As we become the first cinema chain in the country to use these versatile amplifiers, we are all set to be more energy-efficient, cost-efficient and space-efficient. We are proud to pioneer one more technology intervention into the country with this deployment.”  

    Friedrich Deininger, Sr. Director, Cinema Sales, EMEA and India, Dolby Germany GMBH, said that Dolby offers a full range of imaging, content management, and accessibility solutions to give audiences an immersive cinema experience with 700+ Dolby Atmos Screen installed or committed in India and over 700+ Dolby Atmos titles in six Indian languages.

    INOX, amongst India’s largest multiplex chains, offers 146 multiplexes and 614 screens in 68 cities.

  • FY-2015: Inox ad revenues up 64.5%; F&B improves share of profits

    FY-2015: Inox ad revenues up 64.5%; F&B improves share of profits

    BENGALURU: Inox Leisure Limited reported 64.5 per cent growth in advertising revenue to Rs 81.49 crore (eight per cent of Total Revenue or TR) for the year ended 31 March, 2015 (FY-2015, current year) as compared to the Rs 49.55 crore (5.6 per cent of TR) in the previous year.

     

    Ad revenue for Q4-2015 increased 22.7 per cent to Rs 19.79 crore (9.1 per cent of TR) from Rs 16.13 crore (8.6 per cent of TR) in Q4-2014, but was 31.6 per cent less than the Rs 28.92 crore (9.5 per cent of TR) in Q3-2015. While advertising revenues per operating screen (355 screens excluding management screens) in FY-2015 increased to Rs 0.23 crore as compared to the Rs 0.17 crore in FY-2014, the corresponding figure for both Q4-2015 and Q4-2014 was Rs 0.056 crore.

     

    Note: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

    (2) Q4-2015 and FY-2015 Figures include Satyam Cineplexes Limited which became wholly owned subsidiary of the company on 8th Aug 2014.

     

    Inox’s total revenues in FY-2015 increased 15.5 per cent to Rs 1014.11 crore from Rs 877.78 crore in FY-2015. In Q4-2015, TR increased 15.6 per cent to Rs 217.75 crore from Rs 188.31 crore in Q4-2014, but declined 28.6 per cent as compared to the Rs 304.85 crore in Q3-2015.

     

    Gross Box Office

     

    Gross box office (GBO) revenue contribution to total revenue has been falling with time. In FY-2015, GBO increased 12.4 per cent to Rs 670.38 crore (66.1 per cent of TR) as compared to the Rs 596.56 crore (68 per cent of TR) in FY-2014. Q4-2015 GBO revenue at Rs 134.80 crore (61.9 per cent of TR) was 8.3 per cent more than the Rs 124.49 crore (66.1 per cent of TR) in Q4-2014, but declined 33.2 per cent as compared to the Rs 201.75 crore (66.2 per cent of TR) in Q3-2015.

     

    Footfalls with management properties in FY-2015 increased 6.5 per cent to 4.11 crore from 3.86 crore in FY-2014. Footfalls increased by 2.4 per cent to 0.84 crore in Q4-2015 from 0.82 crore in Q4-2014, but declined 15.2 per cent as compared to the 0.99 crore in the previous quarter. Occupancy in FY-2015 declined to 25 per cent from 28 per cent in the previous year and declined from 23 per cent in Q4-2014 to 20 per cent in Q4-2015.

     

    Average Ticket Price (ATP) in FY-2015 increased 5.1 per cent to Rs 164 from Rs 156 in FY-2014. In Q4-2015, ATP increased 3.3 per cent in Q4-2015 to Rs 158 as compared to the Rs 153 in the corresponding year ago quarter, but declined 10.9 per cent as compared to the Rs 175 in Q3-2015.

     

    Food and Beverages

     

    Inox’s Food and Beverages (F&B) revenue stream has been growing over time and its contribution to profitability has been increasing reports the company. In FY-2015, F&B contribution to profitability increased to 77 per cent as compared to 74 per cent in FY-2014, however, the segment’s contribution to profitability declined one per cent in Q4-2015 to 75 per cent from 76 per cent in Q4-2014.

     

    F&B revenue in FY-2015 at Rs 191.03 crore (18.8 per cent of TR) improved 17.7 per cent as compared to the Rs 162.33 crore (18.5 per cent of TR) in FY-2014. In Q4-2015, revenue from F&B segment increased 9.4 per cent to Rs 37.43 crore (17.2 per cent of TR) as compared to the Rs 34.2 crore (18.2 per cent of TR) in Q4-2014, but declined 32.7 per cent from the Rs 55.63 crore (18.2 per cent of TR) in the preceding quarter.

     

    Other operating revenue in FY-2015 increased 2.7 per cent to Rs 71.21 crore (7 per cent of TR) as compared to the Rs 69.34 crore (7.9 per cent of TR) in FY-2014. Other operating revenue in Q4-2015 almost doubled (1.9 times) to Rs 25.73 crore (11.8 per cent of TR) as compared to the Rs 13.49 crore (7.2 per cent of TR) and was 38.7 per cent more than the Rs 18.55 crore (6.1 per cent of TR) in Q3-2015.

     

    Entertainment Tax, Distributors’ share, F&B costs, rents, et al:

     

    Entertainment tax in FY-2015 at Rs 121.45 crore (12 per cent of TR) increased 14.5 per cent from Rs 106.07 crore (12.1 per cent of TR) in FY-2014. In Q4-2015, entertainment tax increased 2.9 per cent to Rs 22.76 crore (10.5 per cent of TR) from Rs 22.12 crore (11.7 per cent of TR) in Q4-2014, but was 40.3 per cent lower than the Rs 38.12 crore (12.5 per cent of TR) in Q3-2015.

     

    Distributors’ share in FY-2015 at Rs 249.32 crore (24.6 per cent of TR; 37.2 per cent of GBO) was 11.6 per cent more than the Rs 223.49 crore (25.5 per cent of TR; 37.5 per cent of GBO) in FY-2014. In Q4-2015, distributors share increased three per cent to Rs 47.75 crore (21.9 per cent of TR; 35.4 per cent of GBO) as compared to the Rs 46.36 crore (24.6 per cent of TR; 37.2 per cent of GBO) in Q4-2014, but was 36.6 per cent lower than the Rs 75.37 crore (24.7 per cent of TR; 37.4 of GBO) in Q3-2015.

     

    F&B cost in FY-2015 at Rs 49.55 crore (4.9 per cent of TR) was 6.2 per cent more than the Rs 46.64 crore (5.3 per cent of TR) in FY-2014. F&B cost in Q4-2015 increased 12.1 per cent to Rs 10.35 crore (4.8 per cent of TR) from Rs 9.23 crore (4.9 per cent of TR) in Q4-2014 and was 23.8 per cent lower than the Rs 13.58 crore (4.5 per cent of TR) in Q3-2015.

     

    Property, rent, conducting fees and common facility charges (rent) form a major percentage of the company’s expenses. Rent charges in FY-2015 increased 28.1 per cent to Rs 175.78 crore (17.3 per cent of TR) from Rs 137.22 crore (15.8 per cent of TR) in FY-2014. Rent in Q4-2015 increased 30.8 per cent to Rs 46.63 crore (21.4 per cent of TR) from Rs 35.64 crore (18.9 per cent of TR) in Q4-2015 and was 0.1 per cent lower (almost flat) as compared to the Rs 46.67 crore (15.5 per cent of TR) in Q3-2015.

     

    Profit After Tax (PAT)

     

    Inox reported 45.7 per cent drop in PAT to Rs 20.04 crore (two per cent of TR) from Rs 36.94 crore (4.2 per cent of TR) in FY-2014. The company reported loss of Rs 4.06 crore in Q4-2015 as compared to a PAT of Rs 1.54 crore in Q4-2014 and a PAT of Rs 14.3 crore in Q3-2015.

  • FAME Cinemas installs Dolny Atmos surround sound at multiplex in Inorbit Mall

    FAME Cinemas installs Dolny Atmos surround sound at multiplex in Inorbit Mall

    MUMBAI: FAME Cinemas is making history by revolutionising the way movies are meant to be heard.

    In order to bring in a whole new dimension and a never-heard-before movie viewing experience exclusively to Mumbai, FAME has installed the Dolby Atmos surround sound at its multiplex in Inorbit Mall, Malad.

    Speaking on the occasion, Fame Cinemas Director, Operations Rajeev Patni said, “We are extremely happy to bring in this latest and the best technology in sound to our guests in Mumbai. The sound projected by Dolby Atmos immensely enhances the movie viewing experience and we take pride to offer it for the first time to our guests in this movie loving city.”

    FAME Cinemas along with INOX Leisure Limited have recently converted all their screens into 2K digital projection systems. The introduction of Dolby Atmos sound is another feather in the cap.

    Dolby Atmos technology creates clearer and more accurately positioned cinema sound.

    The movies which are currently being screened with Dolby Atmos sound at the multiplex in Inorbit Mall are ABCD Any Body Can Dance (3D / Hindi) and Mama (English).