PVR INOX Limited has announced a postal ballot seeking shareholder approval for the remuneration of its key executive directors. The notice, dated February 12, 2026, outlines comprehensive compensation packages for Managing Director Ajay Kumar Bijli and Executive Director Sanjeev Kumar.

Postal Ballot Timeline and Process

The company has established a structured timeline for the postal ballot process, with all voting conducted through electronic means only.

The postal ballot notice will be available on stock exchange websites (NSE and BSE) and the company's official website at www.pvrcinemas.com/investors-section .

Proposed Remuneration Structure

Managing Director Compensation

The remuneration package for Managing Director Ajay Kumar Bijli includes multiple components designed to align executive performance with shareholder interests.

Executive Director Compensation

Executive Director Sanjeev Kumar's proposed remuneration follows a similar structure with proportionate adjustments.

Leadership Background and Achievements

Ajay Kumar Bijli, the founder of PVR cinemas, serves as Managing Director of India's largest multiplex theatre chain. Under his leadership, the company operates 1,791 cinema screens across 358 properties in 112 cities, making it the fourth largest listed multiplex operator globally. He graduated from Hindu College, Delhi University, and completed the Owners/President Management program at Harvard Business School in 1999.

Sanjeev Kumar, co-founder and Executive Director, manages the company's programming, Hollywood studio relationships, film distribution, and business development. He holds a Bachelor's degree in Finance and Accounting from Salford University, Manchester, and an MBA from Imperial College, London University.

Performance Metrics and Rationale

The Nomination and Remuneration Committee has established comprehensive performance parameters for variable pay determination:

Historical Performance and Compensation

The company has provided detailed historical remuneration data demonstrating the performance-linked nature of executive compensation.

Managing Director Historical Remuneration (₹ Million)

Executive Director Historical Remuneration (₹ Million)

Strategic Achievements and Business Transformation

Under the leadership of both directors, PVR INOX has achieved significant milestones including successful merger integration with INOX Leisure Limited, realizing approximately 80-90% of targeted EBITDA synergies of ₹2,250 million within FY'24. The company has transitioned from a passive exhibition model to actively manufacturing footfalls through initiatives like Blockbuster Tuesdays, which generated 12 million ticket bookings in six months.

The leadership has driven substantial debt reduction, decreasing net debt from ₹14,304 million as of March 31, 2023, to ₹3,652 million as of December 31, 2025, representing a 74% reduction. The company has also pivoted to capital-light growth models, with over 50% of future screen additions planned under FOCO and Asset-Light formats.

Regulatory Compliance and Governance

The proposed remuneration complies with Regulation 17(6)(e) of SEBI LODR Regulations and incorporates robust governance safeguards including independent NRC review, performance-linked variable pay, clawback mechanisms, and comprehensive disclosure requirements. The remuneration structure includes annual increments capped at 8% per annum, determined based on inflation, individual and company performance, and industry benchmarks.

Shareholders can participate in the e-voting process through various channels including NSDL e-voting platform, depository participant websites, and mobile applications. The company has appointed Mr. Devesh Kumar Vasishth of M/s DPV & Associates LLP as scrutinizer to ensure fair and transparent voting.

Source: PVR INOX Limited

PVR INOX has announced an ambitious expansion strategy that will significantly increase its cinema network over the next two fiscal years. The multiplex operator plans to add almost 250 new screens across FY26 and FY27, marking one of its most aggressive growth phases in recent years.

Expansion Timeline and Screen Addition Plans

The company's growth strategy is structured across two distinct phases, with a measured approach to capacity addition:

The phased approach indicates PVR INOX's confidence in market recovery and consumer demand for theatrical experiences. The company expects minimal screen closures during this expansion period, suggesting a net positive addition to its cinema network.

Investment Allocation for FY27

PVR INOX has outlined a comprehensive investment plan to support its expansion and maintenance activities. The company aims to spend between ₹350 crore to ₹400 crore in FY27, covering multiple operational areas:

• New Screen Development: Capital expenditure for establishing new cinema locations
• Renovations: Upgrading existing facilities to enhance customer experience
• Maintenance: Ongoing operational maintenance across the network

Strategic Growth Focus

The expansion plan reflects PVR INOX's commitment to strengthening its market position in India's cinema exhibition sector. With almost 100 screens planned for FY26 and 150 screens targeted for FY27, the company is positioning itself to capture growing demand in both metropolitan and emerging markets.

The substantial investment of ₹350 crore to ₹400 crore in FY27 demonstrates the company's financial commitment to not only expanding its footprint but also maintaining high operational standards across its existing network. This balanced approach between growth and maintenance is expected to support long-term operational efficiency and customer satisfaction.