@RocketMan you are right. I have seen it in their presentations. But they also claim their current screen strength is 156, see from pic.
But notes underneath say they are under fit out and tied up, likely , they have some agreement in place for the rest. In that case, its not appropriate to use that no for valuating and peer comparison.
Is management’s claim that they are no 4 in multiscreen exhibition (with 62 screens as of date) accurate?
Nevertheless I did some quick valuation of each screen.
Looking at this, Cineline doesnt seem to be grossly undervalued. However, if they can grow as projected (PVR_Inox has slowed its growth and closing the ones with poor economics), it might create value. But thats the risk considering its history, and trajectory of multiscreen exhibition globally. Any idea what happened after they sold the screens to PVR in 2012? were the proceedings distributed to shareholders?
This is what the management had said in 2012 when they sold…
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