Analysts/Institutional Investor Meet/Con. Call Updates

November 03, 2026 The Manager – Listing National Stock Exchange of India Limited (Scrip Symbol: PVRINOX) The Manager – Listing BSE Limited (Scrip Code: 532689) Sub: Compliance under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir / Ma’am, This is with reference to and in continuation of our letter dated 21st October, 2026 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the officials of the Company participated in the Q2 FY27 earnings conference call for analysts and investors held on Wednesday, 28th October, 2026. A copy of the transcript of the proceedings of said conference call is enclosed herewith for your information and records. The transcript shall also be available on the website of the Company https://www.pvrcinemas.com/investors-section. This is for your information and to all concerned. Kindly take the same on record. Yours sincerely, For PVR INOX Limited Murlee Manohar Jain SVP - Company Secretary & Compliance Officer Encl: A/a “PVR INOX Limited Q2 FY27 Results Conference Call” October 28, 2026 MANAGEMENT: MR. AJAY KUMAR BIJLI – MANAGING DIRECTOR – PVR INOX LIMITED MR. SANJEEV KUMAR – EXECUTIVE DIRECTOR – PVR INOX LIMITED MR. GAURAV SHARMA – CHIEF FINANCIAL OFFICER – PVR INOX LIMITED MR. GAUTAM DUTTA – CHIEF EXECUTIVE OFFICER– PVR INOX LIMITED MR. KAMAL GIANCHANDANI – CHIEF BUSINESS PLANNING & STRATEGY – PVR INOX LIMITED MODERATOR: MR. NIRANT DHUMAL – ICICI SECURITIES Page 1 of 15 PVR INOX Limited October 28, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the PVR INOX Limited Q2 FY27 Earnings Conference Call hosted by ICICI Securities Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Nirant Dhumal from ICICI Securities. Thank you, and over to you, Mr. Nirant. Nirant Dhumal: Good afternoon, everyone, and welcome to PVR INOX Limited Q2 FY27 Post Results Earnings Call. The call will start with brief management remarks on the earnings performance, followed by a Q&A session. PVR INOX management will be represented by Mr. Ajay Kumar Bijli, Managing Director; Mr. Sanjeev Kumar, Executive Director; Mr. Gaurav Sharma, Chief Financial Officer; and other senior management personnel. Over to you, sir. Ajay Kumar Bijli: Good evening, everyone. Can you guys hear me? Moderator: Yes, sir. Please go ahead. Ajay Kumar Bijli: Yes. Good evening, everyone. This is Ajay Kumar Bijli. I'd like to welcome you to our call to discuss PVR INOX's unaudited results for the quarter and half year ended September 30, 2026. The earnings presentation and results were uploaded to our website and the stock exchanges earlier today. Box office growth momentum continued in Q2 FY27, which was a landmark quarter for Indian cinema. Industry gross box office collections reached INR4,433 crores, the highest quarterly collections on record and the first time the industry crossed INR4,000 crores in a single quarter. Industry box office grew 23% year-on-year, following 20% growth on Q1. Building on a record FY26, industry collections grew 22% to INR7,618 crores in the first half of this fiscal year, underscoring sustained momentum in theatrical moviegoing. What is especially encouraging is the range of content behind the growth. English language cinema had a standout quarter with collections growing 87% to INR1,024 crores, crossing INR1,000 crores in a quarter for the first time. Spider-Man: Brand New Day became India's highest grossing English movie ever at INR608 crores of box office. Christopher Nolan's Odyssey grossed INR233 crores with exceptional demand in premium immersive formats like IMAX. Together, they show the strong appeal of both franchise and non-franchise Hollywood content in India. Even a re-release, Avengers Endgame: Encore grossed INR45 crores over a 4-week theatrical run, indicating strong consumer demand for premium cinematic experiences. In Hindi, the quarter was led by the exceptional performance of Hanuman Ansh, which grossed INR351 crores. Mirzapur: The Movie deserves a special mention. A hit streaming series was Page 2 of 15 PVR INOX Limited October 28, 2026 taken to the big screen as a feature film for the first time, and it went on to collect INR267 crores at the box office. We see this as the beginning of a new trend. It reinforces what we have said on earlier calls, a theatrical release is where the biggest stories become events and streaming can widen the audience that comes to the cinema. Sequels such as Awarapan 2 and Dhamaal 4 were the other successful hits. Regional cinema also witnessed a strong box office growth with star-led spectacles like Jana Nayagan in Tamil and Toxic in Kannada grossing INR200 crores and INR296 crores, respectively. Irumudi in Telugu and Bethlehem Kudumba Unit in Malayalam were other authentic regional blockbusters during the quarter. Growth is now coming from a wide range of films across languages, genres and budgets from rooted word-of-mouth successes to star-led spectacles. We welcomed 46.3 million guests during the quarter, up 4% year-on-year as occupancy rose to 30.4%. Average ticket price and food and beverage spend per head each grew 14% year-on-year, reaching INR298 and INR153, respectively. This is also our best ever quarter for revenue, EBITDA and PAT. On an Ind AS 116 adjusted basis, total income grew 17% to INR2,133 crores. EBITDA rose 44% to INR475 crores and EBITDA margin expanded around 420 basis points to 22.3%, driven by strong operating leverage. PAT more than doubled to INR273 crores. This marked our sixth consecutive quarter of year-on-year revenue growth. For the first half, we reported total income of INR3,775 crores, up 15% year-on-year; EBITDA of INR705 crores, up 56% year-on-year and PAT of INR344 crores, up 233% year-on-year. These numbers show how the business has changed since the merger. Our EBITDA margin was 22.3% this quarter and 18.7% for the first half against 17% to 18% before COVID at higher occupancy levels. Merger synergies, cost discipline and capital efficiencies have made PVR INOX a structurally stronger business. It is also showing in our return on capital employed has improved from 10.2% in FY26 to 16.5% on a trailing 12-month basis, above the pre-COVID benchmark of around 13%. During H1, we generated INR604 crores of free cash flow and repaid INR259 crores of debt. As our balance sheet strengthened, we returned part of surplus capital to shareholders in September through our maiden share buyback of INR300 crores, while retaining sufficient capital for growth. Even after this payout, we ended September with net cash of INR141 crores, up from INR81 crores in June. With the company turning net cash positive in Q1, the Board has also approved a capital allocation and dividend distribution policy. While our earlier policy was limited to dividends, the new policy provides a broader framework for capital allocation. The framework sets out 3 priorities. First, we will continue to invest for growth in new screens, premium formats and technology while maintaining the quality of our circuit. Page 3 of 15 PVR INOX Limited October 28, 2026 Second, we will keep the balance sheet strong with net debt-to-EBITDA remaining within 0.5x after any distribution. Third, from the surplus that remains, we expect to return around 30% of our annual surplus cash flow to shareholders through dividends, buybacks or a combination of the two, with the timing and quantum at the Board's discretion. The policy is available on our website now. On expansion, we opened 24 new screens across 6 new cinemas in the first half, predominantly under the asset-light models. Our networ [Showing first 8,000 characters — download PDF for full document]