Kotak: PVR Inox Stock Correction 'Overdone' Amid Strong Q3 Occupancy, Reaffirms 'Buy'

• Kotak Institutional Equities reiterated its 'Buy' rating on PVR Inox, maintaining a price target of ₹1,380 per share.
• The brokerage believes the recent stock correction is 'overdone' due to improving cinema trends and capital-light expansion.
• Kotak expects PVR Inox to report over 27% occupancy and mid-teen EBITDA margins for the second consecutive quarter in Q3.
• Q3 gross box office collections were in line with Q2, and a strong Q4 movie pipeline could boost FY26 EBITDA estimates.
• PVR Inox shares gained 3% on Friday, trading at ₹1,027.50, despite being down 22% over the past year.

Why It Matters: Kotak sees PVR Inox's stock correction as excessive, citing strong Q3 and positive future outlook.