ICICI Direct has given Buy recommendation for PVR with a target price of Rs. 1900 in its research report issued on Oct 25, 2021

ICICI Direct’s research report on PVR

PVR Ltd is the market leader in terms of multiplex screen count in India. Currently, it operates 855 screens in 178 cinemas in 72 cities in India and Sri Lanka with an aggregate seating capacity of ~1.81 lakhs seats. With leadership in high realisation key markets of Maharashtra/NCR, it enjoys superior ATP, SPH and advertisement compared to peers

Outlook

We maintain BUY rating on the company We value PVR at Rs 1900 i.e. 15x FY23E EV/EBITDA

 

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