homemarket Newsstocks NewsCinepolis merger to further strengthen PVR leadership: Kotak Institutional Equities
Cinepolis merger to further strengthen PVR leadership: Kotak Institutional Equities
Based on a news article on the possible PVR and Cinepolis merger, Kotak has put out a note saying that if the merger goes through, then it will further strengthen PVR’s leadership in the industry. The merged company will have 1,200 plus screens and the total screen count will be 75 percent higher than the next player INOX Leisure.
Based on a news article on the possible PVR and Cinepolis merger, Kotak has put out a note saying that if the merger goes through, then it will further strengthen PVR’s leadership in the industry.
The merged company will have 1,200 plus screens and the total screen count will be 75 percent higher than the next player INOX Leisure.
Also, Kotak has put out a few estimates they see annual revenues of about Rs 5,000 crore in FY23, EBITDA margins of 19 to 20 percent, and an enterprise value in the range of Rs 13,00 to 1500 crore.
This potential merger can further generate fewer synergies, like better monetization of ad inventory, marginal upside in F&B, as well as average ticket price and cost savings especially when it comes to their corporate overheads.
Kotak has maintained its buy rating with a target price of Rs 1,825 based on 12.50 times FY24 EV to EBITDA.
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