First Gadar, now Dhurandhar's roar, this is how PVR will become a money printing machine

Although PVR Inox shares closed in the red on Tuesday due to poor overall market sentiment, they saw a 3% increase on Monday. The reason is simply the impressive second week performance of the Ranveer Singh-starrer "Dhurandhar" at the box office. 

Directed by Aditya Dhar, the film has crossed the ₹400 crore mark at the domestic box office and set a new record for its second Monday collection.

The biggest question now is whether PVR's shares will benefit from Dhurandhar's impressive performance. There's a reason for this. 

When Gadar 2 was released, PVR's shares saw a rise of more than 15% within a month of its release. However, experts predict that the company's shares could see a rise of 15% or more.

How is Dhurandhar earning?

According to reports, "Dhurandhar" earned over ₹30 crore on its second Monday (11th day), and the figure also exceeded ₹30 crore on Tuesday. However, Wednesday's figures are not yet available. 

The film has grossed over ₹411 crore. It is expected that the film's total could reach ₹500 crore within the next few weeks. The film's global target is over ₹600 crore.

There may be a rise of 15 percent

Domestic brokerage firm Motilal Oswal Financial Services said such strong performance at cinemas has given a ray of hope for cinema chains like PVR Inox. Nandish Shah, AVP, PCG Research & Advisory, Wealth Management Division, Motilal Oswal Financial Services, said in an ET report that he maintains a "neutral" rating on the stock but has set a target price of Rs 1,245, which is approximately 15% higher than Monday's closing price. This means the company's shares could see a gain of more than 15% from Tuesday's closing price.

These films brought a rise in stocks

Shah wrote that PVR Inox's future will depend on strong upcoming films and occupancy levels. Films like "Dhurandhar," followed by "Chava" and "Saiyaara," have crossed the ₹300 crore box office mark, raising some hope. 

He further stated that strong content available in various languages, along with event streaming strategies like "Blockbuster Tuesday" and re-releases, could further strengthen screen-level performance. 

He also stated that PVR management expects second-half performance to be equal to or better than the first half. However, the brokerage firm also cautioned that the business remains sensitive to fluctuations in content quality and occupancy.

Why stocks may rise

He said that PVR's business is highly dependent on occupancy, which is driven by the quality and consistency of content, a factor largely outside the company's control. 

While management remains optimistic about the content pipeline for FY2026, Motilal Oswal cautioned that even a 200-300 bps decline in occupancy could significantly impact screen-level economics and EBITDA performance, posing a downside risk to its current estimates. 

Despite the cautious rating, the positive response to Dhurandhar and the promising film lineup have boosted investor confidence in the near term, suggesting strength and potential upside potential for the stock.

There was a boom during Gadar 2 as well.

Two years ago, when Sunny Deol's Gadar 2 was released, PVR's shares saw a meteoric rise. The film, released on August 11th, was such a box office smash that PVR's stock rocketed in the stock market. 

On August 10th, the company's stock was trading at ₹1631.15, which reached ₹1792.05 on the last trading day of August. This means the company's shares rose by nearly 10 percent. By September 8th, nearly a month after the release date, the company's shares reached ₹1879.75, representing a rise of over 15.25 percent. 

This was due solely to the performance of Gadar 2, which brought people to theaters, as this was a period when the country had just emerged from the shadow of Covid.

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