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Tuesday, January 10, 2017

PVR Cinemas Vs Inox Leisure....Big Valuation Gap...How Long???

PVR Cinemas @ 562 Screens In 122 Properties In 48 Cities Pan India.
Market Cap as of today Rs 5820 Cr.

Inox Leisure@ INOX currently operates 113 multiplexes and 446 screens in 57 cities making it a truly pan-Indian multiplex chain.
Market Cap as of today Rs 2200 Cr.

PVR Market Cap Rs 5820 Cr 
Inox Market Cap Rs 2200 Cr

Gap of Rs 3600 crore (as Market Cap) where PVR has just around 116 screens extra Vs Inox Leisure in total.

Big Valuation gap is seen in Inox Leisure in compare to PVR and as a result of this Inox Leisure looks very much undervalued.

PVR Ltp Rs 1220
Inox Leisure Ltp Rs 228

PVR is up 6x since it got listed in 2006 from its IPO price whereas Inox Leisure is not even 2x from its ipo price since it got listed in 2006.

Shareholding Pattern - Inox Leisure Ltd. 
Holder's NameNo of Shares% Share Holding
Promoters4697392848.7%
ForeignInstitutions1623117716.83%
NBanksMutualFunds1319204613.68%
GeneralPublic1155233511.98%
Others81142828.41%
FinancialInstitutions989850.1%


Nothing much seen with General Public. 
In Q3 Let see whats the percentage remain with General Public.
Its just getting out of General Public.

The Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) to buy upto 49 percent in the company from existing 24 percent under the portfolio investment scheme (PIS). 

Do we see a big re rating happening soon in Inox Leisure???

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