Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 total income grew 17% to INR2,133 Cr; EBITDA rose 44% to INR475 Cr; PAT more than doubled to INR273 Cr - Industry box office grew 23% y-y; English cinema grew 87%, Hindi and regional strong with new trends like streaming-to-theatre - EBITDA margin expanded 420 bps to 22.3%; ROCE improved to 16.5% trailing 12 months - 90-100 new screens targeted in FY27, including SMART Cinemas for Tier 3/4 with 25-30% lower capex - Capital allocation policy: invest for growth, maintain net debt/EBITDA <0.5x, return ~30% surplus cash to shareholders - F&B gross margin improved via volume, value growth, supply chain efficiencies; 85% footfall now buys F&B - Capex guidance INR300-320 Cr FY27; >INR350 Cr FY28; depreciation reduced by INR35-40 Cr due to longer asset life - Multiple analyst queries on SMART Cinema expansion and Hindi film market; management confident of growth - Net cash INR141 Cr at Sept 30, 2026 after INR300 Cr buyback; no asset sales planned - Strong film slate for H2 FY27 including Ramayana, King, Avengers, regional and Hollywood blockbusters