PVR rises on plan to double its number of multiplex screens

PVR is currently trading at Rs 113.05, up by 0.95 points or 0.85% from its previous closing of Rs 112.10 on the BSE.

The scrip opened at Rs 111.00 and has touched a high and low of Rs 114.00 and Rs 108.30 respectively. So far 1642 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 193.00 on 07-Sep-2010 and a 52 week low of Rs 93.50 on 21-Mar-2011.

Last one week high and low of the scrip stood at Rs 119.60 and Rs 108.00 respectively. The current market cap of the company is Rs 288.90 crore.

The promoters holding in the company stood at 42.69% while Institutions and Non-Institutions held 23.37% and 33.94% respectively.

PVR, an entertainment company is eyeing to double its number of multiplex screens in the next three years. This week the company touches the mark of 150 screens. The company will invest Rs 100 crore per year and expects to operate 300 screens in the next three years.

PVR’s core business is exhibition and the company has decided to focus on it besides expanding its movie distribution business. The company will make movies when it will get good opportunities but it is not going to be aggressively looking at film production business.

Recently, Cinema exhibitor PVR's wholly-owned subsidiary - PVR Pictures would now onwards focus on film distribution which would enable it to turn profitable in the next 18 months. PVR was already in the process of merging the film production business of PVR Pictures with itself. The company had decided to go slow on film production and focus on film exhibition and distribution.

While PVR would continue to deal in cinema exhibition on the other hand PVR Pictures would manage film distribution. The production business under PVR Pictures had been registering losses, so the company has decided not to carry on with it aggressively. The company's production and distribution business registered loss of Rs 4.58 crore, for the quarter ended June 30, 2011.

PVR is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries. Currently, the company has achieved the status of being India’s largest cinema chain. It currently owns 101 screens across 14 cities and many more are in the offing.