Dhurandhar 2 buzz puts PVR Inox stock into spotlight
What's the story
The Indian multiplex industry is witnessing a major shift, thanks to the highly-anticipated Ranveer Singh starrer, Dhurandhar: The Revenge. Jinesh Joshi, a research analyst at PL Capital, has said that the film is already showing signs of blockbuster-level traction. This has led to expectations of record-breaking box office collections and a potential boost for theater operator PVR INOX.
Stock update
PVR INOX's share price defies broader market trends
Despite a massive selloff in the broader Indian stock markets and its global peers, PVR INOX's share price has remained resilient. The multiplex stock surged 2% to its day's high of ₹1,040 on BSE today. This comes as the Indian benchmark indices, Nifty and Sensex, were down over 2% each due to losses in global peers amid rising oil prices from the prolonged US-Iran war.
Release details
'Dhurandhar' sets records ahead of release
Dhurandhar: The Revenge, which stars the fictional character Hamza Ali Mazari, has hit theatres today. The film has already grossed ₹40.5 crore in paid previews and advance bookings for its first day have crossed ₹29 crore. Joshi said these exciting initial trends could help the movie break into the 'All Time Highest Hindi Advance Bookings' list and even topple KGF-2 from its top spot.
Box office expectations
'Dhurandhar' sequel expected to outperform prequel
PL Capital believes that Dhurandhar: The Revenge has strong potential to outperform its predecessor, which had grossed around ₹840 crore in India. This optimism is driven by the original film's goodwill, creating a loyal audience base for the sequel. The movie will also enjoy a largely solo release as competing film Toxic has been postponed. Unlike the first part, this sequel will be released in multiple languages including Hindi, Telugu, Tamil, Kannada and Malayalam.
Strategic factors
Box office projections for 'Dhurandhar'
The release timing of Dhurandhar: The Revenge coincides with festive occasions such as Eid and Gudi Padwa, which usually drive higher footfalls. The film is also expected to command premium pricing, unlike its original version which was a sleeper hit. PL Capital has outlined multiple scenarios for the film's performance at the box office. In a bear case scenario, it could match the prequel's ₹840 crore collection while in a bull case scenario, it could cross ₹1,000 crore.
Industry influence
Potential impact on multiplex industry and box office collections
The success of Dhurandhar: The Revenge could be a game-changer for the multiplex industry. So far, industry-wide box office collections for 4QFY26 stand at around ₹1,500 crore—much lower than ₹2,190 crore in 4QFY25 and ₹3,290 crore in 3QFY26. If the film hits its base case estimate of around ₹1,000 crore with about 75% of collections accruing in the first two weeks, total box office collections for this quarter could come close to those of 4QFY25 levels.