PVR
pH36305Ceuw
pH36305Ceuw
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<strong>PVR</strong> Ltd<br />
Story in charts<br />
Exhibit 12: India has the lowest screen density<br />
Screen / mn population<br />
125<br />
Exhibit 13: Multiplex penetration still quite low<br />
Single Screen<br />
Multiplexes<br />
8<br />
31<br />
38 43 45 46<br />
52 53<br />
61<br />
77<br />
888 960<br />
1104 1400 1700<br />
8700 8600 8100 7700 7700<br />
India<br />
China<br />
UK<br />
Belgium<br />
Germany<br />
Spain<br />
Italy<br />
Ireland<br />
Denmark<br />
France<br />
US<br />
2010 2011 2012 2013 2014<br />
Source: MOSL, Company<br />
Source: MOSL, Company<br />
Exhibit 14: <strong>PVR</strong> is India’s largest multiplex chain<br />
Exhibit 15: <strong>PVR</strong> – most aggressive screen additions<br />
421<br />
348<br />
No of screens (FY14 end)<br />
259<br />
84 82<br />
29<br />
166<br />
351<br />
Number of screens<br />
516<br />
464<br />
421<br />
603<br />
658<br />
<strong>PVR</strong>+<br />
Inox+<br />
Big<br />
Cinemas<br />
Cinepolis<br />
Fun<br />
Cinemas<br />
DT<br />
Cinemas<br />
FY12 FY13 FY14 FY15 FY16 FY17E FY18E<br />
Source: MOSL, Company<br />
Source: MOSL, Company<br />
Exhibit 16: RoCE to improve significantly<br />
Exhibit 17: Free cash to improve significantly<br />
RoCE (%)<br />
14.5<br />
14.8<br />
Free cash flow (INR m)<br />
3,106<br />
8.5<br />
10.9 10.7<br />
8.0<br />
11.2<br />
859<br />
680<br />
FY12 FY13 FY14 FY15 FY16E FY17E FY18E<br />
Source: MOSL, Company<br />
-153<br />
-384<br />
-841<br />
-68<br />
-2,306<br />
FY11 FY12 FY13 FY14 FY15 FY16E FY17E FY18E<br />
Source: MOSL, Company<br />
27 October 2016 6
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