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Indian Institute of Management (IIM) Lucknow
Indian Institute Of Management (IIM) Lucknow MARKETING PROJECT ON ““EMERGENCE OF PVR IN INDIA”” Syndicate -3 (DGMP - 13) XXXX XXXX XXXX 1 Introduction 1. 1. In the literal sense, aa multiplex can be defined as a ““single complex with multiple screens.”” They are built in specifically-designed buildings and as per its capacity, it can accommodate numerous people. Origins around the world 2. 2. In December 1947, Nat Taylor, and operator of a theatre called ““Elgin Theatre”” inin Ottawa, Canada, opened a smaller second theater named "Little Elgin", right next door to his first theater. However, it was only in 1957 that he started to run different movies in each theater. Later in 1962, he opened dual-screen theaters in Montreal and then in 1964, in Ontario. In Apr 79, he opened an 18-screen multiplex under one roof in Toronto's Eaton Centre. Later in Dec 96, AMC Ontario Mills 30, opened a 30-screen theater in California that became the theater with the largest number of screens in the world. Today, Kinepolis Madrid in Spain is the world's largest cinema complex with 25 screens and a total seating capacity of 9,200. Early Years of Multiplex Cinema in India 3. 3. Movie-exhibition till the mid-90s was dominated predominantly by the single screen halls. Also, the surge of customers to watch movies was mostly during holidays, on weekends or around festivals. In India, the multiplex culture started to bloom in the mid-90s. It enticed the customers with not only the prospect of upgrading the concept of watching movies but transformed it into a whole new experience. -
The Growth of Inox Leisure
International Journal of Grid and Distributed Computing Vol. 13, No. 1s, (2020), pp. 298-308 Indian Multiplex Market: The Growth of Inox Leisure. Mr. Monojit Dutta1, Ms. Sayani Sen2 1Assistant Professor, Department of Commerce and Management, St Xavier’s University Kolkata, India Email id: [email protected] 2Independent Researcher, Kolkata, India, Email id: [email protected] Abstract: Cinemas have always been an integral part of people’s life. As our society has progressed so has the cinema industry. Similarly, the medium of watching movies has also change with the introduction of new technologies. During the 70s and the 80s, there were mainly single screen movie theatres where people had to stand in long queue to buy tickets, whereas, now there are movie multiplexes, where it is no longer necessary to stand in queue to get a ticket, it can be done easily from the comforts of home through online tickets booking apps. In this paper, we have discussed about the different multiplexes in the Indian market, mainly emphasizing on the two main players of this industry i.e. PVR Ltd and INOX Leisure Limited. The paper mainly aims at showing how INOX inspite of not being in the market for as long as PVR is still giving PVR a tough competition on various aspects. It was rightly found that PVR Ltd holds the maximum share in the market but the growth of Inox Leisure Ltd is impeccable and in certain area; Inox outperforms PVR in terms of return on share, ticket prices and revenue. Keywords: Cinema, Inox Leisure, Multiplex, PVR Ltd. -
PVR Limited Upside: 9.90% PVR (NSE) Current Price: 1186.85 (As of 10.10.16) 532689 (BSE)
CFA Institute Research Challenge Hosted by Indian Association of Investment Professionals Narsee Monjee Institute of Management Studies, Mumbai Rating: HOLD Company: PVR Ltd. (PVRL) Industry: Media and Entertainment Target Price: INR 1304.30 PVR Limited Upside: 9.90% PVR (NSE) Current Price: 1186.85 (as of 10.10.16) 532689 (BSE) Exhibi�ng Strength, But Expensive Ticker Highlights . PVR (NSE) We recommend a HOLD call on PVR Limited (PVR) with a one-year target price of INR 1304.30 using . 532689 (BSE) Discounted Cash Flow and Mul�ples Method. This offers a 9.9% upside from its closing price of INR . PVRL:IN (Bloomberg) th 1186.85 on 10 October, 2016. PVR is using the strength of its financial posi�on and low levered balance . PVRL.NS (Reuters) sheet to expand its presence in the country. The revenue growth will be driven by its focus on enhanced Key Data user experience. However, our es�mates indicate that the current price reflects most of these benefits and a higher price rise is possible only when risks like increased compe��on, reducing price premium Closing Market Price (INR) 1186.85 and challenges to expansion are alleviated. 52 Week High/Low 1334.8/645.25 Market leader in film exhibi�on industry Current O/S Shares (Mn) 46.68 PVR has built a strong footprint of mul�plexes in prime loca�ons of major ci�es. It has high average Mkt Cap (INR Bn/USD Mn) 55.40/836.29 �cket prices and higher occupancy than the other top 3 mul�plex players in the country. -
Inox Leisure
Initiating Coverage January 19, 2015 Rating matrix Rating : Buy Target : | 240 Inox Leisure (INOX) | 181 Target Period : 12 months Potential Upside : 33% Triple play on screens, footfalls, ATP… YoY growth (%) Inox with a 21% multiplex screen share is a formidable No. 2 player in the (YoY Growth) FY14 FY15E FY16E FY17E domestic arena and well poised to ride on the increasing discretionary Net Sales 15.0 20.7 17.3 21.5 spends led by the consumption boom. The tilting consumer preference in EBITDA 24.4 13.7 24.3 40.5 Net Profit 100.2 (43.5) 97.2 116.0 favour of multiplexes and rising investments in content will drive higher EPS 61.7 (49.7) 97.2 116.0 screen rollouts and footfalls, which are expected to grow at 17.2% and 14.3% (FY14-17E CAGR) to 499 and 57.6 million, respectively. By virtue of Valuation summary limited competition in most of its catchments area, Inox enjoys pricing FY14 FY15E FY16E FY17E power, which will help drive up ATPs from | 156 in FY14 to | 188 in P/E 37.3 74.0 37.5 17.4 FY17E. This coupled with rising footfalls is expected to aid 18.6% CAGR Target P/E 49.5 98.3 49.9 23.1 in FY14-17E in net box office revenues to | 818.1 crore. High margin F&B EV / EBITDA 15.9 15.0 12.2 8.5 P/BV 3.5 2.7 2.5 2.2 and advertisement segments, with increased management focus, may RoNW 9.4 3.7 6.8 12.8 grow at 21.5% and 35.0% CAGR in FY14-17E to | 291.0 crore and | 121.8 RoCE 11.6 5.8 8.0 13.0 crore respectively, aiding EBITDA margin expansion from 16.0% to 18.4% in FY17E. -
Doycare Movie Voucher Promotion on Purplle.Com How to Redeem
Doycare Movie Voucher promotion on Purplle.com How to Redeem: 1. Movie voucher code will be emailed to the customer email id only on order delivery confirmation 2. To register, visit http://moviepromo.bigcityexperience.com/, enter the voucher code, fill up the form and click Submit. 3. On completion of registration, you will receive an Email /SMS with the Authentication Number. 4. You will receive the movie discount promo code via sms & partner redemption details* via Email within 24 business hours. 5. Visit the web link, fill in the required details such as promo code, mobile number, movie, time, date, venue, etc and book the ticket. (Ticket will be shared via SMS & Email) 6. When you visit the venue, flash the SMS (M – Ticket) or Printout (E – Ticket) and redeem the offer. 7. For any queries related to ticket booking, feel free to call on +91 80 4055 4862 or write to [email protected] *Partner sites – Refer to Annexure Terms and Conditions 1. This offer entitles the end user upto Rs. 200/- off on one movie transaction at partner website. 2. Offer valid for all shows from Monday to Sunday. 3. Movie promo code can be redeemed ONLY on partner website. They cannot be redeemed directly at the cinema/venue box office. 4. If you are registered with Do Not Disturb (DND) service, you will not receive SMS confirmation from us. Please call our concierge at 080 4055 4862 for any queries. 5. Concierge Lines are open only from Monday to Friday between 10:30 am to 5:30 pm and are closed on weekends /public holidays including bank holidays. -
BEFORE the COMPETITION COMMISSION of INDIA Case No
1 BEFORE THE COMPETITION COMMISSION OF INDIA Case No. 37/2011 Date of Decision:3rd January, 2013 Information filed by: Film & Television Producers Guild of India …through Sh.VibhuBhakru and Sh. HarshvardhanJha Against: 1. Multiplex Association of India (MAI), Mumbai …through Sh. RamjiSrivasan and Sh. G.R. Bhatia, Advocates 2. PVR Limited…through Sh. Saikrishana Raja Gopal, Advocate 3. Inox Leisure Limited 4. Fame India Limited through Sh. Ravishekhar Nair and Ms. Nidhi Singh, Advocates 5. Reliance Media Works Limited 6. Cinemax India Limited …through Sh. Rohit K. Aggarwal, Advocate 7. Fun Multiplex Pvt. Ltd. …through Ms. DiyaKapoor 8. Chaphalkar Brother, Pune 9. HDIL Entertainment Pvt. Ltd. 10. DT Cinemas …through Sh. Karan Chandhoke, Advocate 11. Movietime Cineplex Pvt. Ltd. 12. Satyam Cineplexes Limited…through Sh. H.S. Bobby Chandhoke, Advocate 13. SRS Entertainment & Retail Limited…through Sh. TarunSingla, Advocate 14. AB Movies Pvt. Limited…through Sh. Rajiv Garg, Advocate 15. Velocity Limited …..…Opposite Parties ORDER The information in the present case was filed on 22.07.2011 by Film & Television Producers Guild of India, India (hereinafter, referred to as “FTPGI”), against Multiplex Association of India (hereinafter, referred to as “MAI”/ “OP1”) and its members, consisting of,PVR Limited(OP 2), Inox Leisure Limited(OP 3), Fame India Limited(OP 2 4), Reliance Media Works Limited(OP 5), Cinemax India Limited(OP 6), Fun Multiplex Pvt. Ltd., (OP 7), Chaphalkar Brother, Pune(OP 8), HDIL Entertainment Pvt. Ltd., (OP 9), DT Cinemas (OP10), Movietime Cineplex Pvt. Ltd. (OP 11), Satyam Cineplexes Limited(OP 12),SRS Entertainment & Retail Limited (OP 13), AB Movies Pvt. -
Cinema Name City Miraj Cinemas
List of Cinema Cinema Name City Miraj Cinemas: Adipur Adipur Miraj Cinemas: Adipur 1 Adipur BIG Cinemas: TDI, Agra Agra Pacific Cinema: Agra Agra Shree Talkies: Agra Agra BIG Cinemas: TDI Agra Agra SARV Multiplex: Agra Agra Panna Palace Cinema: Agra Agra BIG Cinemas: Himalaya Mall Ahmedabad Cine Pride: Krishna Nagar Ahmedabad CineMAX: Dev Arc Mall Ahmedabad CineMAX: Red Carpet Ahmedabad Cinepolis: Alpha One Mall, Vastrapur Ahmedabad City Gold: Bopal Ahmedabad City Gold: Motera Ahmedabad Devi Multiplex: Naroda Ahmedabad PVR Acropolis Ahmedabad 5D Bonzai Adventure: Ahmedabad Ahmedabad City Gold: Ashram Road Ahmedabad City Gold: Shyamal Ahmedabad Mukta A2 Cinemas: Satellite Road Ahmedabad Rajhans Cine World: Ahmedabad Ahmedabad PVR Acropolis, SG Rd Ahmedabad CineMAX: Shiv, Ashram Road Ahmedabad Rupam Cinema: Relief Road Ahmedabad PVR: Acropolis Mall, Ahmedabad Ahmedabad Mira Theatre Ahmedabad My Cinema E-SQUARE: Ahmednagar Ahmednagar Glitz Cinemas: Ajmer Ajmer Miraj Cinemas: Ajmer Ajmer ERA: Mayamandir Ajmer Era Mayamandir Cinemas Ajmer BIG Cinemas: Radhakrishna, Akola Akola Vasant Talkies-Akola Akola BIG Cinemas: Vadra, Aligarh Aligarh BIG Cinemas: Vadra, Aligarh 1 Aligarh Payal and Jhankar BIG Cinemas: Allahabad Allahabad PVR: Vinayak, Allahabad Allahabad Starworld Cinemas: Allahabad Allahabad Starworld Palace Cinema Allahabad Raj karan palace Allahabad Gold Digital Cinema: Alwar Alwar Gold Digital Cinema: Alwar 1 Alwar Fun Cinemas: Galaxy Mall Ambala Ambala Fun Cinemas: Galaxy Mall Ambala 1 Ambala Prabhat Talkies: Amravati Amravati Prabhat -
INOX LEISURE Setting the Screen Ablaze
INITIATING COVERAGE INOX LEISURE Setting the screen ablaze India Equity Research| Media Inox Leisure (INOX), India’s second-largest multiplex operator, is an EDELWEISS 4D RATINGS attractive play owing to its aggressive expansion plans, premiumisation, Absolute Rating BUY and ramp-up of margin-accretive ad and F&B revenues, not to mention the closing gap with market leader PVR. With a healthy balance sheet and Rating Relative to Sector Outperform Risk Rating Relative to Sector Medium negative working capital, the company is well placed to expand. We Sector Relative to Market Overweight estimate INOX would clock CAGRs of 19% in revenue and 35% in EPS over FY19–21, and are initiating coverage on the stock with a ‘BUY’ at a PE of 20x (33% discount to PVR) December 2020E EPS (ex-IND AS 116), which MARKET DATA (R: INOL.BO, B: INOL IN) yields a target price of INR475. CMP : INR 334 Target Price : INR 475 Blockbuster prospects: Low penetration, robust expansion 52-week range (INR) : 382 / 189 Share in issue (mn) : 102.9 Given the low multiplex screen penetration in India – 8 per million against 37 in China M cap (INR bn/USD mn) : 34 / 482 – multiplexes account for only about 30% of the screen count (25% in CY15), implying Avg. Daily Vol.BSE/NSE(‘000) : 246.2 ample scope for expansion. Moreover, a robust content pipeline (India produces the highest number of movies in the world), rapid urbanisation, and the ongoing shift SHARE HOLDING PATTERN (%) from unroganised to organised retail provide strong tailwinds to the multiplex industry. Current Q4FY19 Q3FY19 We expect INOX to add 80 screens each in FY20 and FY21 (574 in FY19).