PL Sector Update – Multiplex Update

PL Sector Update – Multiplex Update: Jinesh Joshi – Research Analyst, Prabhudas Lilladher Pvt Ltd

Multiplex Update: Stellar weekend at BO!

✳️Gadar-2 lives up to its name and creates a HAVOC at BO by minting Rs1.35bn in the opening weekend itself (3 days). It is now the 2nd highest opener of 2023 after Pathaan. As there is a holiday on account of Independence Day tomorrow one can expect a FULL HOUSE as the movie theme surrounds patriotism. Given such a solid start, Gadar-2 can easily surpass Rs2bn+ in lifetime collections.

✳️Jailor, another highly anticipated movie, starring Rajnikanth has also stormed the BO with collections of Rs1.46bn in the extended opening weekend.

✳️After a slow start, Oh My God-2 picked up pace on Sunday and has netted Rs0.43bn so far. Given good word of mouth and audience reviews, we expect the movie to pick up pace in second leg of its theatrical run.

✳️Bhola Shankar, starring Chiranjeevi has got a weak response with collections of Rs0.24bn in opening weekend.

✳️Collectively these 4 movies have netted Rs3.5bn in opening weekend itself. Further, with movies like Dream Girl-2, Jawan and Salaar due for release in 2QFY24, we expect sharp improvement in BO performance this quarter. Retain BUY on PVR-Inox with a TP of Rs1,797