INOX Leisure announces Q4 & Full Year FY21 Results

INOX Leisure Ltd (INOX) reported the financial results for the fourth quarter and the financial year ending 31st March 2021. The results were taken on record by the Board of Directors today.

Highlights for FY ended on 31st March 2021

- FY21 witnesses severe impact of COVID-19 on Revenues, EBITDA, PAT and Footfalls

- Total Operational Revenues stand at Rs. 148 Cr EBITDA at Rs (204) Cr* and PAT at Rs (257) Cr*.

- 3.8 Mn guests visited INOX cinemas in FY20-21

- Company reported Rs 170 as ATP against Rs 200 for previous FY

- Spends Per Head stood at Rs 77, marginally lower than Rs 80 reported in previous FY

- Company displays expansion rigor with 05 new properties with 17 screens in the last Quarter of FY21, at Gurugram (2), Salem, Thane and Kolkata. 1 property with 5 screens added in Apr '21 at Bengaluru

- INOX now operates 648 screens across 153 multiplexes in 69 cities

- Screen addition to continue in FY22 as Company plans to add 10 more properties with 44 screens.

- The Board has approved the enabling resolution for fund raising up to Rs. 300 Cr at its Meeting held on 6th April, 2021

- Constant constructive engagement going with all stakeholders, including producers & studios, mall developers, Government authorities, media and consumers.

- Stringent cost control procedures continue to remain implemented

- With a massive lineup of great quality content in Hindi, English and other Indian languages, Company expects a robust recovery once pandemic subsides and Govt's vaccination drive achieves desired targets

- The company has chalked out an entirely revamped F&B road map including tie-ups with online food ordering platforms

Highlights for Qtr 4 ended on 31th March 2021

- Total Operational Revenues stand at Rs 119 Cr, EBITDA at Rs (60) Cr* and PAT at Rs (74) Cr*

- INOX witnessed a promising response in Q4 for blockbuster movies like Master, Krack, Roohi, Mumbai Saga and Kong vs Godzilla

- Q4 provided glimpses of recovery by recording footfall of 3.4 Mn and double digit occupancies

Mr. Siddharth Jain, Director - INOX Group says, "The advent of COVID-19 has left a severe impact on our FY21 performance. Just when the industry had started witnessing the fervor in Q4, the resurgence of COVID-19 cases has emerged as a cause of concern. Despite the pandemic, we have continued the addition of news cinemas in FY21 with the launch of new properties in Gurugram, Kolkata, Thane and Salem, and we are sure that we will up the ante in FY22. We have laid our hopes on the massive vaccination drive being undertaken by the Government authorities, which would prove to play a pivotal role, not just in the revival of the cinema exhibition industry, but the overall national economy at large. The pandemic has not even fractionally shaken our belief and outlook for the business, and the strong content pipeline strengthens the same. We are optimistic about our new F&B roadmap which would yield positive results once normalcy resumes. There cannot be a better time to thank our stakeholders, who continue to repose unwavering faith in our business and the capabilities of our team, which is raring to post a marvelous comeback."

Total Revenues stood at Rs. 148 Cr for FY21. EBITDA stood at Rs (204) Cr* and PAT at Rs (257) Cr*. Footfalls reported for FY21 stood at 3.8 Mn with Q4 alone delivering 3.4 Mn count. The Board has passed an enabling resolution to raise funds up to Rs 300 Cr at its meeting held on 6th April, 2021.

Shares of INOX LEISURE LTD. was last trading in BSE at Rs.278 as compared to the previous close of Rs. 273.8. The total number of shares traded during the day was 16529 in over 521 trades.

The stock hit an intraday high of Rs. 279.7 and intraday low of 273. The net turnover during the day was Rs. 4577930.

Source : Equity Bulls

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