Sequels, Rereleases, And Regional Films — PVR Inox's Holy Trinity For A Fruitful Fiscal

PVR Inox is riding high on the success of sequels, and gearing up for a parade of hits in the third quarter of this fiscal as more sequels, regional films, and rereleases are set to join the fray.

The standout of the second quarter of fiscal 2025 was undoubtedly Stree 2, which grossed Rs 873.70 crore worldwide to be the highest grossing Hindi film of this year, displaying the might of bringing back fan favourite characters through sequels.

This horror-comedy sequel wasn't just a crowd favourite—it also reaffirmed PVR Inox's dominance in the multiplex space. Nuvama Institutional Equities noted that Stree 2’s net box office collections surpassed even Jawan, establishing an all-time domestic record.

As ICICI Securities pointed out, Stree 2’s success is a sign that audiences are craving theatrical experiences, and the content pipeline for the third quarter is only getting stronger.

Emkay Global echoed this sentiment, emphasising the role of franchise films like Singham Again, Bhool Bhulaiyaa 3, Dhadak 2, Metro In Dino, Pushpa 2, and Sitare Zameen Par in attracting big crowds.

Emkay highlighted a trend of franchise movies outperforming others, which gives them confidence that PVR Inox is on track for an impressive third quarter.

According to ICICI Securities, franchise films are leading the charge for a meaningful re-rating of PVR Inox.

Not just new films, but rereleases of old favourites are bringing moviegoers back to the cinemas. PVR-Inox has capitalised on nostalgia by bringing back cult classics.

ICICI Securities mentions how the rerelease strategy, with reduced ticket prices, has worked wonders, not just filling seats but boosting food and beverage sales too.

Take the film Tumbbad as an example. Upon its rerelease, it managed to rake in Rs 30.4 crore at the box office, surpassing its original release earnings of Rs 15.46 crore in just a week.

Such rereleases are proving that even without mega-budget productions, PVR Inox can still keep the tills ringing, and with fewer costs, their margins are only looking better.

Regional cinema is no longer just the underdog. The highest-grossing film of the year was the pan-Indian Telugu film Kalki 2898 AD by Nag Ashwin, starring Prabhas, Amitabh Bachchan, and Deepika Padukone, which raked in Rs 1,100–1,200 crore.

Of the top 10 highest worldwide grossing Indian films of 2024, seven are southern movies, clearly demonstrating the appeal these regional films offer the masses.

The second quarter showed strong growth thanks to the stellar performance of regional films like Devara and Indian 2, both of which grossed more than Rs 100 crore each. PVR-Inox, while traditionally leaning heavily on Bollywood and Hollywood, is now also capitalising on the regional content boom.

The highly anticipated Pushpa 2, a massive pan-Indian blockbuster, is expected to be a crown jewel in the third quarter lineup. The combination of Hindi, Tamil, and Telugu releases will bring in diverse audiences and provide strong competition to Bollywood and Hollywood films. With its passionate fanbase, regional content is increasingly becoming a crucial component of PVR Inox's box office strategy.

If there's one takeaway from the third quarter predictions, it’s that sequels and franchises are ruling the box office—and they’re not going away anytime soon. Emkay Global and Nirmal Bang agree that franchise movies like Bhool Bhulaiyaa 3, Dhadak 2, and Singham Again are showing a strong trend of outperforming other films.

Even Hollywood is throwing its sequels into the mix, with films like Joker: Folie à Deux and Gladiator 2 set to pull in crowds.

The festive season is another force multiplier. Releases are strategically planned around Diwali and Christmas, ensuring that theatres are packed.

Beyond the sequels and blockbusters, PVR Inox is making strategic moves to strengthen its business. ICICI Securities noted the company's efforts to monetise non-core assets, which is expected to bring in an inflow of Rs 300 crore, improving its capital efficiency.

Additionally, Emkay Global praised the company's focus on cost control measures that will boost profitability in the medium term.

PVR Inox is also actively expanding its reach, with 15 new screen openings projected for the second quarter, and another 50-60 screens planned for underpenetrated regions. This expansion will be margin enhancing, especially as the company transitions to an asset-light model by signing management contracts with mall owners.

PVR Inox is poised for a sequel-powered surge in the third quarter. With the massive success of Stree 2, a stellar lineup of upcoming films, and strategic business moves, PVR Inox is not only bouncing back but setting the stage for its best quarter yet. The multiplex giant has shown that the magic of the big screen is far from over—and its sequel is looking bigger and better than ever.