Connplex CinemasShare price, financial results, shareholding and management
- Market cap
- ₹442 cr
- Stock P/E
- 17.0peers 10.3
- Book value
- ₹70.3
- Price to book
- 3.29
- EV / operating profit
- 12.4
- Market cap to sales
- 3.00
- ROCE · FY26
- 43.3%
- ROE · FY26
- 32.7%
- ROE, 3-year average
- 90.5%
- Operating margin · FY26
- 23.7%peers 19.9%
- Sales growth, 3 years
- 80.7%
- Profit growth, 3 years
- 135.4%
- Debt to equity
- 0.01peers 0.06
- Borrowings
- ₹1.6 cr
- Interest cover
- 146.2×
- Cash from business / op. profit
- -172%
- Debtor days
- 53
- Pledged
- 0.00%
- Promoter holding
- 70.11%
- Change in promoter holding
- +0.04 pts
- Shareholders
- 1,166
- 52-week high / low
- ₹312 / ₹188
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Connplex Cinemas share price chart
Close on 6 Nov 2026 · -2.03% on the day · Vol 19,200
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -9.8%
- 3 months
- +13.7%
- 6 months
- -21.2%
- 1 year
- +7.9%
- Since IPO
- +30.8%
- Traded a day, 20 days
- ₹0.79 cr
- Taken for delivery
- 80%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +54% | +37% |
| 3 years, a year | +81% | +135% |
| Latest half, H2 FY26 | +52% | +45% |
About Connplex Cinemas: business, products and customers
Connplex Cinemas builds small premium cinemas for local business owners who take a Connplex franchise, and then runs the ticketing, films, food and advertising for the whole network in return for a share. Its shares trade on NSE Emerge.
Connplex Cinemas earns in two ways. It designs and builds cinemas for franchise partners, who pay a franchise fee and the cost of building, and it keeps a share of what the network earns from tickets, food and advertising, plus fees from film producers and ticketing platforms.
At March 2026 the network had 41 cinemas with 113 screens and 9,797 seats in nine states, led by Gujarat and Bihar, in three formats from compact to luxury recliner halls. Most cinemas are in tier 2 and tier 3 towns, with some in larger cities such as Ahmedabad, Pune, Hyderabad and Gurgaon.
Read more about the business
In FY26, building cinemas brought in ₹64.8 cr and ticket sales ₹62.1 cr of the ₹147.5 cr of revenue. What is new: a granted patent for a process linking cinema servers to active LED screens, a lease and sublease model that gives the company control of cinema sites, and a pipeline the company puts at more than 230 screens for FY27 and FY28.
From the offer document (red herring prospectus, August 2025), the November 2025 and May 2026 earnings calls, the annual report 2025-26, the May 2026 investor presentation and press release, and the July 2026 operating update.
Read the deeper study ↓In its favour
- Sales have grown very fast: 81% a year over three years.
- It earns a high return on the money it uses: ROCE 43% in FY26.
- It has little debt for its size: debt to equity 0.01.
- The promoters own a large part of the company: 70.11%.
To watch
- Screen openings in FY27 against the 80 to 85 the managing director spoke of, including 40 to 45 screens due before September 2026 (Earnings call, May 2026, p.13 and p.14).
- EBITDA margin against the 26% to 27% the managing director spoke of, after 20.5% in the second half of FY26 (Earnings call, May 2026, p.22; Investor presentation, May 2026, p.10).
- Use of the ₹45.1 cr of issue money still unused at March 2026, including the LED screens and projectors (Annual report 2025-26, p.115).
- Inventories and receivables, which rose sharply in FY26 (Investor presentation, May 2026, p.12).
- Its borrowings rose a lot last year: ₹1.6 cr, from ₹1 cr.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Connplex Cinemas revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Connplex Cinemas half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 41 | 55 | 64.06 | 83.46 |
| Expenses | 28 | 41 | 46.20 | 66.39 |
| Operating profit | 13 | 13 | 17.86 | 17.07 |
| OPM | 31.0% | 24.0% | 27.9% | 20.5% |
| Interest | 0 | 0 | 0.07 | 0.17 |
| Depreciation | 1 | 1 | 0.95 | 1.47 |
| Profit before tax | 13 | 13 | 17.33 | 17.52 |
| Net profit | 10 | 9 | 13.05 | 13.03 |
Connplex Cinemas profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 7 | 25 | 60 | 96 | 147.52 |
| Expenses | 5 | 23 | 54 | 69 | 112.59 |
| Operating profit | 1 | 3 | 6 | 26 | 34.93 |
| OPM | 20.0% | 10.0% | 10.0% | 27.0% | 23.7% |
| Other income | 0 | 0 | 1 | 1 | 2.58 |
| Interest | 0 | 0 | 0 | 0 | 0.24 |
| Depreciation | 0 | 1 | 1 | 2 | 2.42 |
| Exceptional and other items | · | · | · | 1 | · |
| Profit before tax | 1 | 2 | 6 | 26 | 34.85 |
| Tax rate | 0.0% | 0.0% | 33.3% | 26.9% | 25.2% |
| Net profit | 1 | 2 | 4 | 19 | 26.08 |
| EPS ₹ | 17 | 33 | 81.80 | 13.55 | 15.15 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Connplex Cinemas profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 20.0% | 10.0% | 10.0% | 27.0% | 23.7% |
| Tax rate | 0.0% | 0.0% | 33.3% | 26.9% | 25.2% |
| ROCE | · | · | 171.4% | 165.1% | 43.3% |
| ROE | · | · | 114.3% | 124.6% | 32.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Connplex Cinemas debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Connplex Cinemas balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.50 | 0.50 | 0.50 | 14 | 19.10 |
| Reserves | -1 | 1 | 5 | 11 | 115.22 |
| Net worth | -0.50 | 1.50 | 5.50 | 25 | 134.32 |
| Borrowings | 0 | 0 | 0 | 1 | 1.60 |
| Other liabilities | 16.50 | 26.50 | 30.50 | 35 | 38.08 |
| Total liabilities | 16 | 28 | 36 | 61 | 174 |
| Fixed assets | 4 | 7 | 9 | 10 | 20.76 |
| Capital work in progress | 1 | 3 | 3 | 2 | 2 |
| Investments | 3 | 5 | 5 | 9 | 66.18 |
| Other assets | 8 | 13 | 19 | 40 | 85.06 |
| Receivables | · | · | · | · | 21.29 |
| Inventory | · | · | · | · | 22.76 |
| Cash | · | · | · | · | 11.57 |
| Trade payables | · | · | · | · | 12.61 |
Connplex Cinemas cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 1 | 9 | 4 | 3 | -60.19 |
| Cash from investing | -3 | -6 | -4 | -5 | -14.39 |
| Cash from financing | 0 | 0 | 0 | 0 | 84.24 |
| Net cash flow | -2 | 3 | 0 | -2 | 9.66 |
| Capital spending | · | · | · | · | 12.16 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 47 | 18 | 23 | 50 | 53 |
| Inventory days | 30 | 97 | 55 | 80 | 160 |
| Days payable | 365 | 72 | 67 | 67 | 89 |
| Cash conversion cycle | -288 | 43 | 10 | 63 | 124 |
| Working capital days | 142 | 52 | 17 | 54 | 91 |
Connplex Cinemas peers and competitors
Listed SME companies in the same industryBy sales, Connplex Cinemas is number 2 of the 19 listed SME companies in entertainment.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Connplex Cinemas | 442 | 17.0 | 148 | 26.1 | 23.7% | 0.01 |
| Optimystix Entertainment India | 349 | 14.5 | 135 | 24 | 23.0% | 0.00 |
| Phantom Digital Effects | 157 | 7.8 | 102 | 20.2 | 36.7% | 0.25 |
| Maxposure | 77 | 8.1 | 88 | 9.5 | 14.7% | 0.13 |
| Studio LSD | 45 | - | 72.1 | -1 | -3.5% | 0.00 |
| Baweja Studios | 48 | 7.9 | 68.9 | 6.1 | 16.8% | 0.35 |
| Digikore Studios | 49 | 3.9 | 66 | 12.6 | 33.1% | 1.16 |
| Gretex Industries | 350 | 250.8 | 55.7 | 1.4 | 1.7% | 0.01 |
| B.A.G. Convergence | 220 | 20.4 | 43.2 | 10.8 | 42.3% | 0.00 |
| Radiowalla Network | 19 | 140.8 | 20.4 | 0.1 | 3.1% | 0.03 |
| Picturepost Studios | 9 | 10.3 | 20.3 | 0.8 | 25.8% | 0.08 |
| Median of the 10 others | 63 | 10.3 | 67.5 | 7.8 | 19.9% | 0.06 |
Connplex Cinemas shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Connplex Cinemas shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Aug 25 | Sep 25 | Mar 26 | |
|---|---|---|---|
| Promoters | 69.90% | 70.07% | 70.11% |
| Foreign investors (FIIs) | 2.78% | 2.47% | 0.72% |
| Indian institutions (DIIs) | 10.63% | 8.08% | 6.96% |
| HNIs (over ₹2 lakh each) | 1.68% | 3.70% | 3.51% |
| Small holders (up to ₹2 lakh) | 12.64% | 6.32% | 8.92% |
| Companies and others | 2.37% | 9.36% | 9.78% |
| Number of shareholders | 1,416 | 873 | 1,166 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Connplex Cinemas study: the business from its own documents
Read from 11 of the company's own documentsConnplex Cinemas so far
From the company's own record
- 14 Aug 2025Listed on NSE Emerge at ₹177
- 31 March 2026Promoters at 70.11%
- 8 May 2026Highest close since listing, ₹272.74
Connplex Cinemas key facts from the filings
Each figure with the document it comes from
- Screens
- 122
- Operating screens at June 2026 in 44 cinemas across 32 cities, up from 113 at March 2026 and 66 at March 2025.Press release, July 2026, p.2; Press release, May 2026, p.2; Investor presentation, May 2026, p.18
- Screen pipeline
- 230+
- Upcoming screens the company lists for FY27 and FY28; a further 43 screens were signed in the June 2026 quarter.Investor presentation, May 2026, p.19; Press release, July 2026, p.2
- Cinema building
- ₹64.8 cr
- FY26 revenue from building cinemas and franchise fees, 44% of total revenue; it is booked when a cinema is handed over.Investor presentation, May 2026, p.6 and p.10; Earnings call, May 2026, p.12, p.20 and p.25; our arithmetic
- Royalty share
- 20%
- Share of network ticket, food and advertising revenue the company keeps; franchisees keep 80%, and a repeat franchisee pays 15% on a second cinema.Earnings call, November 2025, p.7; Earnings call, May 2026, p.24
- Footfalls
- 27.6 lakh
- Admits in FY26, up 63%, as screens rose by 47; average ticket price rose 6% to ₹264.Investor presentation, May 2026, p.7; Press release, May 2026, p.2
Show 5 more facts
- Latest half margin
- 20.5%
- EBITDA margin in the second half of FY26, down from 24.5% a year earlier, as staff and marketing costs rose.Investor presentation, May 2026, p.10; Earnings call, May 2026, p.7
- People
- 96 → 143
- Employees from March 2025 to March 2026; employee cost rose to ₹9.95 cr from ₹5.24 cr, mostly in franchise sales and cinema building teams.Earnings call, May 2026, p.22 and p.25
- Issue money unused
- ₹45.1 cr
- Part of the ₹90.27 cr raised in August 2025 still in fixed deposits at March 2026; only ₹6.2 cr of the ₹24.4 cr for LED screens and projectors had been spent.Annual report 2025-26, p.115
- Stock of materials
- ₹22.8 cr
- Inventories at March 2026, up from ₹7.4 cr, mainly seats, sound, lighting and other fit-out material for cinemas being built.Investor presentation, May 2026, p.12; Earnings call, May 2026, p.21
- Screens said and done
- 47 vs 50 to 60
- Screens added in FY26 against the 50 to 60 the company spoke of in November 2025; 30 opened in the second half against a target of about 41.Earnings call, November 2025, p.19 and p.23; Press release, May 2026, p.2
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the May 2026 call, Managing Director Anish Patel said the company expects to add about 80 to 85 screens in FY27, possibly more than 100, and to grow screens by about 25% in FY28, with 40 to 45 screens under construction expected to open before September 2026. The managing director said the company expects an EBITDA margin of 26% to 27% and a PAT margin of about 20%. The company lists more than 230 upcoming screens across FY27 and FY28.
| What management said | When | What happened |
|---|---|---|
| 50 to 60 screens added by the end of FY26 | November 2025 call | 47 screens added in FY26 |
| About 41 new screens in the second half of FY26 | November 2025 call | 30 screens added in H2 FY26 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Connplex Cinemas makes money building cinemas that franchise partners pay for, and then takes a share of what those cinemas earn.
Its weak spots are profits that lean on a steady flow of new cinemas, margins that slipped as costs rose, and screen openings that have run behind what was said.
AverageCan it set its own prices?Ticket prices follow the films and the market, and rose only a little; food spend per head grew faster.
AverageHow strong is it against rivals?It is a small player in Indian cinema, aiming at smaller towns where big multiplex chains are thin, with a cheaper, smaller cinema format.
AverageWho are its customers?Moviegoers on one side and franchise partners who pay to build cinemas on the other; the building income depends on finding new partners.
AverageDoes it need a lot of money?Franchise partners pay for the cinemas, so the company needs little of its own capital, but stock for cinemas being built and money owed to it are rising.
StrongCan it keep finding new work?Sign ups have kept coming, with a large list of screens waiting to be built, though some openings depend on landlords finishing their buildings.
WatchDo good and bad years swing a lot?Yes. Footfalls depend on which films release, and building income depends on when cinemas are handed over.
Who runs Connplex Cinemas?
Promoters, directors and officers; tap a name for the background
ATAnish Tulshibhai PatelPromoter and Managing Director · holds 35.03%
Bachelor's and Master's degrees in Information Technology and Computer Science from K S School of Management, Ahmedabad. Built education and hospitality franchises before joining the board in January 2018 as founder director; Managing Director since September 2024, overseeing property, franchise growth, finance and legal matters.
Offer document, p.5 and p.179; Annual report 2025-26, p.5RKRahul Kamleshbhai DhyaniPromoter and Joint Managing Director · holds 35.03%
Bachelor of Commerce with a background in business development, marketing and event management. On the board from 2018, Chief Executive Officer from July 2019 to August 2020, and Joint Managing Director since September 2024; led the move to a franchise model.
Offer document, p.5, p.179 and p.180; Annual report 2025-26, p.5PBParshwa Bhavikbhai ShahIndependent Director
A member of the Institute of Company Secretaries of India, earlier an assistant secretarial executive at Umesh Ved & Associates and whole time Company Secretary at Saanvi Advisors. On the board since September 2024.
Offer document, p.180; Annual report 2025-26, p.5RARonak Ashokbhai MehtaIndependent Director
A practising Company Secretary with about four years of experience, proprietor of R N Mehta & Company in Ahmedabad.
Offer document, p.180; Annual report 2025-26, p.5PAPujan Ashvinbhai ThakkarChief Financial Officer
Bachelor of Commerce with about five years of experience, earlier with V T Thakkar & Co.; Chief Financial Officer since December 2024.
Offer document, p.189; Annual report 2025-26, p.5Connplex Cinemas latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹83.5 cr (+52%), net profit ₹13 cr (+45%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 70.07% to 70.11%; Aarth AIF Growth Fund no longer named at 1% or more (was 1.01%).
Connplex Cinemas announcements
128 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Shareholders meetingSrutinizers report of Extraordinary General Meeting held on October 09, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Extraordinary General Meeting held on October 09, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Updates' Intimation In Accordance With Section 152(6) Of The Companies Act, 2013 (Retirement By Rotation).'PDF ↗
- Amendment to AOA/MOAOf the companyPDF ↗
- Change in AuditorsOf the companyPDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 21, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 21, 2026PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Shareholders meetingNotice of Extraordinary General Meeting to be held on October 09, 2026PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
Connplex Cinemas annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 May 2026 ↗read
- 30 Nov 2025 ↗read
- 31 May 2026 ↗read
- 30 Nov 2025 ↗read
Connplex Cinemas share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Connplex Cinemas' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,91,00,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹81.80) and FY25 (₹13.55) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Connplex Cinemas
What does Connplex Cinemas do?
Connplex Cinemas builds small premium cinemas for local business owners who take a Connplex franchise, and then runs the ticketing, films, food and advertising for the whole network in return for a share. Its shares trade on NSE Emerge.
What is the share price of Connplex Cinemas?
₹232 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Connplex Cinemas?
₹442 cr at the close on 6 Nov 2026, on 1,91,00,000 shares.
What is the P/E of Connplex Cinemas?
17.0 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Connplex Cinemas' revenue and profit?
Revenue ₹148 cr and profit after tax ₹26 cr in FY26.
Who are the promoters of Connplex Cinemas?
Anish Tulshibhai Patel, Rahul Kamleshbhai Dhyani; promoters held 70.11% at 31 March 2026.
What was the IPO price of Connplex Cinemas?
₹177 a share; it listed on 14 Aug 2025.
What is Connplex Cinemas' website?
www.theconnplex.com
More SME companies like Connplex Cinemas
Other listed SME companies in entertainment, the closest in size first, each read from its own documents.
- Basilic Fly StudioBASILIC · NSE Emerge · Entertainment · listed 2023Market cap ₹403 cr
- Gretex IndustriesGRETEX · NSE Emerge · Entertainment · listed 2016Market cap ₹347 cr
- Optimystix Entertainment IndiaOPTIMYSTIX · NSE Emerge · Entertainment · listed 2026Market cap ₹304 cr
- B.A.G. ConvergenceBAGDIGITAL · NSE Emerge · Entertainment · listed 2025Market cap ₹237 cr
- Diksat TransworldDIKSAT · BSE SME · EntertainmentMarket cap ₹227 cr
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Every listed SME company in Entertainment → · SME companies listed in 2025 →
Built from 3 press releases, 2 earnings call transcripts, 2 investor presentations, 2 annual reports, 1 offer document, 1 result filing, 128 exchange announcements, 3 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.