“We are aggressively growing the food and beverage (F&B) sector and are very optimistic about the new food and beverage roadmap with the introduction of some exciting new processes and innovations, including making our food available on the online food ordering platforms, Swiggy, Zomato, Dineout & Thrive etc. With a comprehensive roadmap, we look to meet the needs of newer consumer segments, while also boosting food and beverage revenue streams, ”Alok Tandon, CEO of INOX Leisure Ltd., told PTI.
The company expects to increase the contribution of food and beverages to its revenue from 19 percent in the previous fiscal year to 35 percent in the future.
The company recorded revenue of Rs. 148 crore in the financial year ended 31st March 2021, as against revenue of Rs 1915 crore in the year 2019-20.
“With the introduction of new innovations including the association with Swiggy and Zomato, we plan to increase the contribution of food and beverages to revenue to 30-35 percent in the future. With the introduction of a new batch of food offerings, we are optimistic that customers will spend more on food, which increases spending. To the individual and maybe our revenue through food and beverages. ”
However, Tandon did not share the time period in which the company expects to increase the share of food and beverages in total revenue.
In the previous two fiscal years, the contribution of food and beverages to total revenue was in the range of 26 percent.
The company attributed the 19 percent decline in food and beverage contribution in fiscal year 21 to the lockdown caused by COVID.
Tondon said the rationale behind linking with food aggregator platforms like Swiggy and Zomato is “to improve our reach and better communicate with consumers outside of the cinema.”
“The idea is to tap into a new consumer base that buys our food products even if they aren’t watching a movie. It’s a big step towards taking our food beyond movie theaters … In the post-pandemic era, we know that consumers will go to rely on brands they trust, Especially in services like food and beverages. We look forward to benefiting from this communication and trust. ”
The company is also expanding its food menu and introducing new meal options such as Pulao, Biryani, Dal Makhani, Rajma-Rice, Chana-Rice, Pastas and Garlic Bread.
“We will see the introduction of ready-to-eat products as an opportunity for further innovation and further expansion of our range in a consistent manner,” he added.
Tandon said the company has seen a promising turnout of orders from the cities in which it operates.
He added: “In 2021-22, once cinema operations resume, we will see a lot of high-quality content on our way, which makes us very optimistic and optimistic about the new and innovative roadmap for food and beverages.”
Inox Leisure currently operates 648 screens across 153 complexes in 69 cities.