INOX Leisure - Q2FY21 Result - Angel Broking

Mr. Keshav Lahoti- Associate Equity Analyst, Angel Broking Ltd

"For Q2FY21 excluding Ind AS 116 impact, Inox Leisure reported revenue, EBIDTA and PAT of Rs.5 cr, -30cr and -48 cr respectively. Result was in line with our expectations. As gradually state governments are allowing theatres to start operation in their respective states, so initially for next couple of weeks cash burn will increase for the Company due to an increase in cost such as rent, employee cost. It will take a couple of months for the Company to bring the business back to normal. Once most anticipated movies such as 83, Sooryavanshi hits the screen, Company will report good occupancy rates. We continue to have a buy rating on Inox Leisure with unchanged target price of Rs. 350. We believe long term fundamentals are still intact for the Company and stock has corrected ~40% due to Covid."

Shares of INOX LEISURE LTD. was last trading in BSE at Rs.267.05 as compared to the previous close of Rs. 275.75. The total number of shares traded during the day was 68530 in over 3019 trades.

The stock hit an intraday high of Rs. 280 and intraday low of 264.2. The net turnover during the day was Rs. 18592548.

Source : Equity Bulls

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