PVR INOX clocks 50% occupancy during Dussehra; here is how shares are performing

The decline in share price comes despite cinema exhibitor PVR INOX stating in an exchange filing that it is looking forward to a strong festive season, buoyed by a robust Dussehra, with occupancy levels already surpassing 50%.

This Dussehra, which also marked Gandhi Jayanti, has already seen over 8.5 lakh admissions, with occupancy crossing 50%, the company said.

"This festive season, our theatres are alive with the energy of audiences across India," PVR INOX Ltd CEO - Revenue & Operations, Gautam Dutta, said in a statement.

With the second quarter already showing robust growth, the company said it is "poised for an exciting season ahead", with upcoming releases looking even more promising.

While both Bollywood and Hollywood movies, including 'Kantara: A Legend Chapter 1', 'Jolly LLB' and 'One Battle After Another', have been attracting patrons to the theatre, PVR INOX said regional cinema has also shone brightly.

"Titles like Idli Kadai (Tamil/Telugu), Maria (Tamil), Vada Pav (Marathi), and Nikka Zaildar 4 (Punjabi) are making a strong impact at the box office, reflecting the richness and diversity of India's cultural storytelling," the company said.

Last week, on October 1, the fair trade regulator, CCI, ordered an investigation into multiplex chain PVR INOX for allegedly abusing its dominant position by continuing to charge a virtual print fee (VPF) from producers, despite cinema halls having fully transitioned to digital projection.

In a 33-page order issued on Tuesday, the CCI stated that “there exists a prima facie case of contravention of several provisions under Section 4 of the Competition rules against OP-3 (PVR INOX Ltd).” Accordingly, the CCI has instructed its Director General (DG) to complete the investigation within 90 days.

The order follows a complaint by the Film and Television Producers’ Guild of India Ltd, which accused PVR INOX of exploiting its market power by continuing to impose the VPF even after full digitalisation of theatres.

The Guild stated that the fee, originally meant to support the shift from analog to digital projection, had lost its relevance and was unfairly burdening producers, particularly small and medium ones.

The CCI observed that PVR INOX, which operates nearly 30% of multiplex screens in India and contributes about 30% of total box office revenue, holds a dominant position in the country’s multiplex film exhibition market.

The competition watchdog also noted that PVR INOX’s move to exempt several Hollywood studios from the VPF while continuing to charge smaller filmmakers “prima facie appears discriminatory.”

It further stated that collecting the VPF without providing any distinct service could amount to imposing supplementary obligations, possibly violating Section 4.

PVR INOX, however, defended the fee, arguing that digital cinema equipment is expensive and needs replacement every 8-10 years. It added that discontinuing the VPF would force exhibitors to increase ticket prices.

The DG has also been instructed to examine the role of responsible officers of PVR INOX under Section 48 of the Act.

The CCI clarified that its observations are only prima facie and not a final determination on the case’s merits.

PVR INOX share price

Over the last five trading sessions, PVR INOX shares gained 0.53%. Similarly, the stock rose 0.48% in the last month. Further, the scrip zoomed 31.62% over the past six months. On the other hand, the stock declined 15.19% on a year-to-date basis.

The stock touched its 52-week high of ₹1,658.20 on October 18, 2024, and its 52-week low of ₹830 on April 7, 2025. The company’s market capitalisation stands at ₹10,979.74 crore as recorded on October 6.