Both PVR and Inox are joint ventures. The Board of Directors of PVR and Inox, the country's largest multiplex theater companies, met in delhi yesterday. It was attended by executives from both companies.
At this meeting, it was decided to merge both PVR and Inox. ajay Bijli has been appointed as the Managing director and sanjeev kumar as the Managing director of the company.
It has been announced that the two companies will now operate under the name PVR Inox Limited, a joint venture between the two companies.
Despite a large number of multiplex theaters, the number of viewers in theaters has dropped dramatically due to credit on ODT sites. While hindi and english fetch 70% at the box office, tamil and telugu fetch only 9% market share.
Inox collects more than PVR, and they charge 15, 15.5 times more per year for EV-EBITDA. For Inox, it costs more than PVR. Inox Rs. 17,000 crore in revenue. But now that the two companies are together, Rs. 23,000, 24,000 crore or $ 3 billion. This is said to result in huge profits.
PVR has 871 theaters in 73 cities and Inox has 675 theaters in 72 cities. While the two companies were greatly affected during the Corona period, the two companies are now set to co-operate.
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