1 DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by Inox Leisure Limited (“ILL” or “the Company”) that are not historical in nature. These forward looking statements, which may include statements relating to future state of affairs, results of operations, financial condition, business prospects, SUMMARY plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the management of ILL about the business, industry and Financial Results markets in which ILL operates. These statements are not guarantees of future performance, and are subject to known Property Openings and unknown risks, uncertainties, and other factors, some of which are beyond ILL’s and Pipeline control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Content Pipeline Such statements are not, and should not be construed, as a representation as to future performance or achievements of ILL. In particular, such statements should not Shareholding be regarded as a projection of future performance of ILL. It should be noted that the actual performance or achievements of ILL may vary significantly from such Structure and statements. Balance Sheet Items Due to rounding-off, figures presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the rounded- Annexure off figures. 2 3 Rs. crs Rs.518crs 108 25% YoY 19% YoY 1.69crs Rs.51crs 11% YoY 40% YoY 4 Excludes impact of Ind AS 116 Rs. crs Rs.1538crs 308 39% YoY 26% YoY 5.32crs Rs.144crs 19% YoY 68% YoY 5 Excludes impact of Ind AS 116 New Properties Opened in Q3FY20 and QTD Gorakhpur Orion (12th Dec 2019) Indore Century 21 (Existing) (27th Dec 2019) 4 Screens 748 Seats 4 Screens 378 Seats Lucknow Crown (30th Dec 2019) Pune Elpro (16th Jan 2020) 6 Screens 1190 Seats 5 Screens 1139 Seats 6 Properties Opened FY20 Property Openings Opened Property Screens Seats Lucknow Garden Galleria Mall 12-Apr-19 1 4 803 Vadodara Taksh NH8 3-May-19 1 5 976 Bangalore Garuda Yelahanka 28-Jun-19 1 4 756 Hyderabad GSM Mall 29-Jun-19 1 8 1,691 Q1FY20 Openings 4 21 4,226 Lucknow Umrao Mall 18-Aug-19 1 3 653 Jalandhar Reliance 6-Sep-19 1 3 862 Q2FY20 Openings 2 6 1,515 H1FY20 Openings 6 27 5,741 Gorakhpur Orion 12-Dec-19 1 4 748 Indore Century 21 Mall (Existing) 27-Dec-19 - 4 378 Lucknow Crown Mall 30-Dec-19 1 6 1,190 Q3FY20 Openings 2 14 2,316 9MFY20 Openings 8 41 8,057 Pune Elpro 16-Jan-20 1 5 1,139 YTD FY20 Openings 9 46 9,196 7 8 9 10 Ind AS 116 Impact on Profit & Loss Q3FY20 Ind AS 9MFY20 Q3FY20 Ind AS 116 9MFY20 Particulars Without Q3FY19 YoY% 116 Without 9MFY19 YoY% Reported Impact Reported Ind AS 116 Impact Ind AS 116 Total Revenues 518 518 436 19% 1,538 1,538 1,223 26% Total Expenses* 344 65 409 350 17% 1,039 192 1,231 1,002 23% EBITDA 174 -65 108 87 25% 499 -192 308 221 39% EBITDA Margin(%) 34% 21% 20% 1% 32% 20% 18% 2% [-]Depreciation 65 -38 27 25 11% 190 -110 80 71 13% EBIT 109 -28 81 62 31% 309 -81 228 151 51% [-]Interest 55 -53 2 6 -66% 160 -153 7 20 -64% PBT 54 25 79 56 41% 149 71 220 131 68% [-] Tax expense 19 9 28 19 43% 52 25 77 46 69% PAT 35 16 51 36 40% 97 46 144 85 68% PAT Margin(%) 7% 10% 8% 2% 6% 9% 7% 2% Basic EPS (Rs.) 3.56 1.64 5.20 3.90 33% 9.89 4.72 14.61 9.23 58% *Ind AS 116 - Rent Impact All figures in INR Crs., unless otherwise specified. Due to rounding-off, figures presented in the above table may not add up precisely to the totals provided and percentages may not precisely reflect the rounded-off figures. 11 Q3 & 9M FY20 Results Highlights Q3FY20 YoY Comparison Total Revenue EBITDA PAT 600 EBITDA EBITDA Margin PAT PAT Margin 500 60 120 20% 21% 25% 18% 400 40% 16% 19% 25% 50 100 20% 14% 300 40 80 10% 12% 15% 10% 518 30 60 200 8% 8% 436 10% 108 20 40 87 36 6% 100 51 4% 5% 10 20 2% - - 0% - 0% Q3FY19 Q3FY20 Q3FY19 Q3FY20 Q3FY19 Q3FY20 9MFY20 YoY Comparison Total Revenue EBITDA PAT 1,800 EBITDA EBITDA Margin PAT PAT Margin 1,600 1,400 9% 160 350 10% 1,200 20% 25% 26% 18% 39% 140 7% 9% 300 68% 1,000 8% 20% 120 250 7% 800 100 6% 200 15% 1,538 80 5% 600 150 1,223 308 10% 60 144 4% 400 3% 100 221 40 5% 85 2% 200 50 20 1% - - - 0% 0% 9MFY19 9MFY20 9MFY19 9MFY20 9MFY19 9MFY20 EBITDA and PAT excludes Ind AS 116 impact 12 All figures in INR Crs., unless otherwise specified, Total Revenue and EBITDA includes Other non-operating Income Q3 & 9M FY20 – Revenue Break Up Analysis Q3 FY20 YoY Comparison 9MFY20 YoY Comparison 1,600 1538 550 518 104 42 1,400 436 144 450 58 1223 31 1,200 86 56 35% 134 22% 403 350 130 1,000 106 312 800 250 3% 8% 600 150 887 22% 288 400 29% 243 691 200 50 19% 28% - (50) Q3FY19 Q3FY20 9MFY19 9MFY20 %Share Q3FY19 Q3FY20 9MFY19 9MFY20 Net Box Office 55.7% 55.7% 56.5% 57.6% Net Food & Beverage 24.4% 25.0% 25.6% 26.2% Advertisement 12.8% 11.1% 10.9% 9.4% Other Revenues 7.2% 8.1% 7.0% 6.8% 13 All figures in INR Crs., unless otherwise specified Q3 & 9M FY20 Results Analysis – Key Operational Metrics Overall Footfalls & Occupancy% Comparable Properties Footfalls & Occupancy% Footfalls (Lacs) Occ% Footfalls (Lacs) Occ% 700 33% 700 33% 600 27% 27% 27% 29% 600 28% 27% 27% 28% 28% 500 27% 500 23% 23% 400 400 18% 18% 300 532 300 11% 19% 13% 4% 13% 200 446 200 403 421 8% 8% 100 153 169 100 145 145 - 3% - 3% Q3FY19 Q3FY20 9MFY19 9MFY20 Q3FY19 Q3FY20 9MFY19 9MFY20 Footfalls with Management properties: Q3FY20: 178 lacs, Q3FY19: 160 lacs & 9MFY20: 559 lacs, 9MFY19: 470 lacs Overall Average Ticket Price (ATP) [INR] Comparable Properties Average Ticket Price (ATP) [INR] 250 250 200 200 150 150 100 206 204 200 199 100 206 204 201 199 -1.0% -0.5% -0.9% -1.0% 50 50 - - Q3FY19 Q3FY20 9MFY19 9MFY20 Q3FY19 Q3FY20 9MFY19 9MFY20 14 Note: All above charts exclude management properties Q3 & 9M FY20 Results Analysis – Key Operational Metrics Gross Spend Per Head (SPH) [INR] Comparable Gross Spend Per Head (SPH) [INR] Food & Beverages – Contribution (%) 100.0% 100 90.0% 90 100 80.0% 90 80 80 70.0% 70 70 60.0% 60 60 50.0% 50 8% 50 10% 7% 40.0% 40 81 80 40 74 74 82 80 30.0% 30 74 75 30 20 20.0% 20 10.0% 10 10 75.3% 73.4% 74.1% 75.2% - - 0.0% Q3FY19 Q3FY20 9MFY19 9MFY20 Q3FY19 Q3FY20 9MFY19 9MFY20 Q3FY19 Q3FY20 9MFY19 9MFY20 Advertisement Revenue [INR Crs.] Other Revenue [INR Crs.] 150 120 130 100 110 90 80 70 3% 134 144 60 35% 22% 104 50 40 86 30 56 58 20 31 42 10 - (10) Q3FY19 Q3FY20 9MFY19 9MFY20 Q3FY19 Q3FY20 9MFY19 9MFY20 15 Q3 & 9M FY20 Results Analysis – Key Operational Metrics Film Distributor Share on NBOC [%] 44.6% 45.3% 44.5% 44.2% Q3FY19 Q3FY20 9MFY19 9MFY20 Other Overheads Per Operating Screen (INR Lacs) 2.6% 3.2% 50.0 0.9% 42.7 140.0 125.8 129.8 45.0 41.7 Other Overheads -0.7% 40.0 120.0 35.0 12.4 12.5 37.5 37.3 2.8% CAM, Power & Fuel, 100.0 R&M 30.0 4.0% 80.0 25.0 10.5 10.8 33.0 34.3 20.0 Property Rent & 1.8% 60.0 15.0 Conducting Fees 2.7% 13.0 40.0 10.0 12.8 38.7 Employee Benefits 37.7 5.0 6.0 7.8% 6.5 20.0 - 17.6 10.9% 19.5 - Q3FY19 Q3FY20 9MFY19 9MFY20 16 Note: Property rent & conducting fees excludes Ind AS 116 impact EBITDA 410 425 375 324 325 275 225 197 225 155 175 131 125 FY15 FY16 FY17 FY18 FY19 FY20 (TTM) Net F&B Revenue 526 530 Ad Revenue 187 480 436 177 180 430 160 380 139 306 140 330 266 284 280 120 96 230 91 191 100 81 180 80 FY15 FY16 FY17 FY18 FY19 FY20 FY15 FY16 FY17 FY18 FY19 FY20 (TTM) (TTM) EBITDA excludes Ind AS 116 impact and includes Other non-operating income All figures in INR Crs., unless otherwise specified 17 Track Record of Aggressive Expansion 146 700 139 123 118 614 130 600 107 574 96 492 500 79 72 468 68 80 63 420 400 372 Screens Properties 32 26 310 22 30 300 16 279 6 9 257 2 3 239 200 -20 119 91 100 76 58 35 25 12 8 0 -70 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Feb-20 Note: Includes Acquisition of 89 Cinemas in FY07, Fame in FY11 and Satyam in FY15 18 PAN India Presence ONE OF THE LARGEST MULTIPLEX CHAIN IN INDIA Screens Zone wise PUNJAB | 3 Properties | 13 Screens UTTAR PRADESH | 11 Properties | 44 Screens South, East, 87 DELHI | 5 Properties | 16 Screens JHARKHAND | 1 Property | 4 Screens 138 HARYANA | 6 Properties | 19 Screens RAJASTHAN | 13 Properties | 47 Screens MADHYA PRADESH | 5 Properties | 26 Screens Assam | 1 Property | 2 Screens North, West; 139 250 WEST BENGAL | 15 Properties | 59 Screens GUJARAT | 20 Properties | 81 Screens ODISHA | 4 Property | 14 Screens MAHARASHTRA | 27 Properties | 129 Screens CHHATTISGARH | 2 Properties | 8 Screens 19 States GOA | 4 Properties | 14 Screens TELANGANA | 3 Properties | 19 Screens 68 Cities KARNATAKA |12 Properties | 49 Screens ANDHRA PRADESH | 8 Properties | 33 Screens 146 Properties KERALA |1 Property | 6 Screens TAMIL NADU | 5 Properties | 31 Screens 614 Screens 142,684 Seats * Includes 8 management properties with 29 screens and 7,370 seats 19 New Screen Pipeline FY20 Pipeline Properties Screens Seats Properties Open Date Properties Screens Seats FY19 139 574 135,586 Lucknow Garden Galleria 12-Apr-19 1 4 803 FY20 Openings till date 9 46 9,196 Taksh Galaxy Vadodara 3-May-19 1 5 976 Expected Feb'20 to Mar'20 6 24 3,823 Bengaluru Yelahnaka 28-Jun-19 1 4 756 *Adjustments (2) (6) (2,098) Hyderabad GSM 29-Jun-19 1 8 1,691 FY20 Expected 152 638 146,507 Lucknow Umrao Mall 18-Aug-19 1 3 653 Jalandhar Reliance 6-Sep-19 1 3 862 Additions Post FY20 148 1,018 188,881 Gorakhpur Orion 12-Dec-19 1 4 748 Leading to 300 1,656 335,388 Indore Century 21(Existing) 27-Dec-19 - 4 378 Lucknow Crown Mall 30-Dec-19 1 6 1,190 Pune Elpro 16-Jan-20 1 5 1,139 Openings Till Date 9 46 9,196 To Be Opened Jaipur 1 3 550 Bhilwara 1 3 670 Indore (Existing) - 2 80 Bengaluru 1 5 629 Gurugram 1 4 850 Mumbai 1 4 241 Salem 1 3 803 Total 15 70 13,019 *Adjustments – Discontinued operations of Nagpur Poonam Mall (3 screens & 1068 seats) & Pune FNS (3 screens & 1015 seats), and 15 seats of Siliguri Orbit has been reduced due to renovation.