CONNPLEX
Connplex Cinemas financials
- Market cap
- ₹506 Cr
- Calls analysed
- 2
CONNPLEX Q4 FY26
What went well
- FY26 Revenue grew 54% YoY to ₹14,752 lakhs, driven by strong growth in ticket sales, F&B, space rentals/private events, and advertising income.
- H2FY26 Revenue grew 52% YoY to ₹8,346 lakhs, reflecting strong operational expansion.
- FY26 PAT grew 37% YoY to ₹2,608 lakhs, demonstrating robust financial growth.
What to watch
- H2FY26 EBITDA Margin declined 403 bps YoY to 20.46%, primarily due to higher operational and expansion-related costs.
- FY26 EBITDA Margin declined 377 bps YoY to 23.68%, attributed to increased employee and marketing expenses.
What Connplex Cinemas Ltd does
Connplex Cinemas develops and manages high-grade cinemas across India through franchise agreements, and also distributes films. Its asset-light model splits into two franchise structures — Franchise-Owned Franchise-Operated (FOFO) and Franchise-Owned Company-Operated (FOCO) — letting the company expand its screen network with minimal capital outlay while partners handle or share operations. Beyond ticketing and cinema-building/franchise fees, the company earns from food & beverage sales, on-screen and off-screen advertising, convenience fees on third-party ticketing platforms (e.g. BookMyShow), and private/corporate event bookings. It runs cinemas in three formats — compact Express, mid-tier Signature, and premium recliner-led Luxuriance — sized for different catchments from urban neighbourhoods to affluent markets.
Segments
- Franchise Fees / Cinema Making
- Movie Exhibition
- Food & Beverages
- Advertising
- Convenience Fees
- Private Events
- VPF Share
- Operational cinemas
- 41 (across 9 states)
- Operational screens
- 113
- Total seating capacity
- 9,797 seats
- Screens by format
- Express: 43, Signature: 38, Luxuriance: 32
- Regional screen distribution
- North: 4, East: 44, West: 57, South: 8 (across 41 cinemas)
- New screens added in H2FY26
- 30
Guidance record · Q4 FY26
what the last two calls moved 11 tracked 0 delivered 3 missed 8 open- New screens added missed said Q2 FY26 Promised: 60 Q4 FY26: Added 47 screens in FY26 (from 66 to 113), missing the target of 60.
- New screens added revised up said Q2 FY26 Promised: 60-75 Q4 FY26: Guidance for FY27 revised up to 80-85 screens (potentially >100), exceeding the original 60-75 target.
- Royalty revenue share on track said Q2 FY26 Promised: >70% Q4 FY26: Company has 113 screens, still progressing towards the 200-screen trigger for this target. The promise remains valid for the future.
All 11 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
| Line item | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 41 | 55 | 64 | 83 |
| EBITDA | 13 | 13 | 18 | 17 |
| Net profit | 10 | 9 | 13 | 13 |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +44.2% 1Y
1Y: ₹183.6 on 10 Sept 2025 → ₹264.7. High ₹300 (11 May 2026), low ₹183.6 (10 Sept 2025).
How the price took the results
close before → close after
- Q4 FY26
- −0.6%
- 19 May
- Q2 FY26
- +1.8%
- 17 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity capital | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹19 Cr | ₹19 Cr |
| Reserves | ₹-1 Cr | ₹1 Cr | ₹5 Cr | ₹102 Cr | ₹115 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹2 Cr |
| Other liabilities | ₹16 Cr | ₹26 Cr | ₹31 Cr | ₹35 Cr | ₹38 Cr |
| Total liabilities | ₹16 Cr | ₹28 Cr | ₹36 Cr | ₹158 Cr | ₹174 Cr |
| Fixed assets | ₹4 Cr | ₹7 Cr | ₹9 Cr | ₹14 Cr | ₹21 Cr |
| Capital work in progress | ₹1 Cr | ₹3 Cr | ₹3 Cr | ₹5 Cr | ₹2 Cr |
| Investments | ₹3 Cr | ₹5 Cr | ₹5 Cr | ₹81 Cr | ₹66 Cr |
| Other assets | ₹7 Cr | ₹13 Cr | ₹19 Cr | ₹57 Cr | ₹85 Cr |
| Total assets | ₹16 Cr | ₹28 Cr | ₹36 Cr | ₹158 Cr | ₹174 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Sep 2025, the public added +2.83 pp while FIIs trimmed −1.75 pp. The shareholder count grew 34% to 1,166.
- Promoters
- 70.1%
- FIIs
- 0.7%
- DIIs
- 7.0%
- Public
- 22.2%
Since Sep 2025
- Public +2.83 pp
- FIIs −1.75 pp
- DIIs −1.12 pp
Who is on the register
Named in the Mar 2026 filing
Every holder of Connplex Cinemas Ltd above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Anish Tulshibhai Patel | 35.03% | unchanged |
| Rahul Kamleshbhai Dhyani | 35.03% | unchanged |
| L7 Securities Private Limited | 2.83% | −0.29 pp |
| Sanshi Fund-I AIF | 2.78% | −0.18 pp |
| Nexus Equity Growth Fund - Nexus Equity Growth Fund Sch-1 Mutual fund | 1.82% | −0.11 pp |
| Pashupati Capital Services Pvt Ltd | 1.07% | −0.39 pp |
| Indumati Patel | 0.01% | unchanged |
| Archana Rahulbhai Dhyani | 0.01% | unchanged |
| Kamlesh Jayantilal Dhyani | 0.01% | unchanged |
| Megha Keyur Joshi | 0.01% | unchanged |
| Poonam A Patel | 0.01% | unchanged |
| Tulshibhai Kanjibhai Patel | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
- Growth the price implies
- 2.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (2)
Read the Q4 FY26 call →Learn to analyse Connplex Cinemas Ltd
Guides on how to read this kind of business and the numbers that matter.