Imagicaaworld Entertainment Ltd

Financial Performance

• Consolidated revenue from operations: INR178 crores, up 20% YoY (Q1 FY27).
• EBITDA: INR90 crores, up 24% YoY; margin 50.7%.
• PAT: INR58 crores, up 30% YoY; PAT margin 32.4%.
• Footfalls: consolidated park footfalls over 11.5 lakhs; up 22%.
• ARPU: around INR 1,395; largely stable.
• Novotel occupancy 62%; ADR INR 9,657; revenue stable.
• Mumbai-Pune revenue up 18%; footfalls up 19%.
• Rest of Maharashtra revenue up 33%; footfalls up 14%.
• Gujarat: footfalls up 32%; revenue up 15%; ARPU up 17%.
• Central India: footfalls up 48%; revenue up 44%.

Portfolio & Operations

• Shanku's Water Park: 50% stake acquired; SPV becomes subsidiary; consolidation from Q2.
• Gujarat expansion: Surat water park; Mehsana SPV stake 50.002%; subsidiary.
• Hello Park: exclusive India franchise; Hyderabad first center this year; Surat second.
• Indoors: Hello Park centers targeting 2–3 per year; pan-India expansion.
• Novotel Imagicaa hospitality metrics: occupancy 62%; ADR 9,657; revenue stable.

Capex & Projects

• Hello Park capex per center INR 8–12 crores; margins 24–25%.
• Ticket price target INR 800–900; 10,000 sq ft per center template.
• Park capex ranges: INR200–450 crores to ~INR500 crores per center, location dependent.
• Land portion ~30% of investment; higher in metro projects.
• Maintenance capex: 6–8% of revenues; marquee rides every 3–4 years.

Guidance & Outlook

• By 2030, aspire to operate a portfolio of 12 parks; ~1 park/year.
• Hello Park expansion: 2–3 centers annually; indoor all-weather growth.
• Debt: debt/EBITDA target 2.5–3x; up to 3–3.5x for a limited period.
• Consolidation of Shanku's is in effect; Mehsana SPV becomes subsidiary; consolidation from Q2.

Q&A Highlights

• Q1 YoY comparison affected by Khopoli non-operation for ~2 weeks and holiday shifts.
• Hello Park economics: capex ~INR8–12 cr; margins ~24–25%; ticket ~INR800–900.
• Gujarat ARPU dip due to price elasticity; adjoining hotel/mall activation expected to lift visits.
• 12 parks per year guidance can include smaller parks; indoor centers excluded.
• Promoter warrant conversion: expected before the specified date; conversion price ~INR73.5.

Risks & Watchpoints

• Weather/seasonality risk; Q1 impact from heat wave and school-holiday shifts.
• Gujarat price sensitivity; need to improve non-ticket revenue to protect ARPU.
• Spiritual tourism requires government support; regulatory and infra dependencies exist.

Arbitration ruling

• Final arbitration order dated 12.08.2026 favorable to Imagicaaworld; no liability on the company.
• Claimant sought specific performance; order held claimant not entitled to such relief.
• Future litigation defence costs expected to be minimal unless further challenged.
• Disclosure under SEBI LODR Master Circular; no additional monetary liability disclosed.

Meeting Details

• Date and time: August 10, 2026, 3:00 p.m. IST
• Type/Mode: earnings conference call, group event conducted virtually
• Organiser: Imagicaaworld Entertainment Limited
• Purpose: discuss Q1 FY2026-27 operational and financial performance

Participants

• Key company participant: Company Secretary & Compliance Officer

Purpose

• Purpose: earnings discussion for quarter ended June 30, 2026

Additional Notes

• Audio recording of the earnings conference call is available on the company's investor site; FY2026-27 presentations listed

Business Overview

• Diversified leisure & hospitality platform with 8 owned parks and 1 under O&M.
• Hospitality arm includes Novotel Imagicaa Khopoli (287 keys).
• Indoor entertainment expansion with Hello Park LOIs in Hyderabad and Surat.
• Markets covered include Mumbai-Pune, Gujarat, Shirdi, and Indore.

Key Operational Highlights

• Invest Rs 50 crore for 50.002% stake in Shanku's Water Park (Mehsana) via SPV.
• O&M fees of 6–10% of park revenue.
• Hello Park LOIs signed at Hyderabad and Surat; opening targeted before year-end.
• Q1FY27 revenue rose 19.9% YoY to Rs 17,760 lakhs.
• EBITDA Rs 9,010 lakhs; margin 50.7%.
• PAT Rs 5,757 lakhs; margin 32.4%.
• Gross profit Rs 16,155 lakhs; margin 91.0%.

Financial Performance

• Revenues from operations: Rs 17,760 lakhs (Q1FY27).
• EBITDA: Rs 9,010 lakhs; EBITDA margin 50.7%.
• PAT: Rs 5,757 lakhs; PAT margin 32.4%.
• Gross profit: Rs 16,155 lakhs; gross margin 91.0%.

Capital Structure & Liquidity

• Investment of Rs 50 crore for 50.002% stake in Shanku's Water Park via SPV.
• O&M revenue share of 6–10% expected from park operations.

Strategic Priorities & Outlook

• Expand into new geographies; target one new location annually.
• Diversify offerings with indoor Hello Park formats; drive year-round engagement.
• Enhance existing parks with new attractions and cross-park promotions.
• Build diversified revenue streams: F&B, retail, sponsorships.

Risks & Mitigation

• Risks include earnings volatility, growth management, competition, and regulatory changes.

Governance & Leadership

• Promoter-led group with experienced leadership; Dhimant Bakshi (CEO & CMO) and Mayuresh Kore (CFO).

Financial highlights

• Revenue from operations Rs 17,760 lakhs, up 19.9% YoY.
• EBITDA Rs 9,010 lakhs; margin 50.7% (up 170 bps).
• PAT Rs 5,757 lakhs; margin 32.4% (up from 29.9%).
• Footfalls 11,54,198; YoY growth 22%.
• ARPU Rs 1,395; flat YoY.

Operational performance

• Novotel Imagicaa occupancy 62.09%; ARPU ₹9,657; revenue ₹1.583 cr (down 2% YoY).

Strategic updates

• Rs 50 crore investment for 50.002% stake in Shanku's Water Park (Mehsana) via MNPPL; O&M fees 6–10%.
• Hello Park Hyderabad LOI for ~10,000 sq ft; opening before year-end.
• Hello Park Surat LOI for ~9,000 sq ft; expansion of indoor segment.

Issue Overview

• Preferential issue of equity shares and convertible warrants.
• Total issue size reported; no revision or undersubscription observed.
• Main objectives for use of proceeds: debt repayment, park acquisitions, intercompany loan repayment, and general corporate purposes.

Utilisation of Proceeds

• Utilisation aligned with offer document disclosures.
• No deviations, changes in allocation, or undersubscription observed.
• Repayment of MPIPL loan completed.
• Part payment for parks acquired from Giriraj Enterprises is ongoing.
• Intercompany loan repayment completed.
• General Corporate Purpose allocation is ongoing.
• Unutilised funds: nil; no funds parked in deposits or monitoring accounts.

Governance and Compliance

• Approvals status not explicitly indicated; management undertakings provided.
• No material adverse events affecting viability reported.
• No management changes or regulatory actions disclosed.
• No other information likely to affect investor decisions disclosed.

General Corporate Purpose

• GCP is not applicable; nil utilization.
• Board approval for GCP allocation not documented.

KMP update

• Ms. Shweta Singh appointed Company Secretary and Compliance Officer.
• Revised list of Key Managerial Personnel defined for materiality disclosures.
• Current KMP: Jai Malpani (MD), Dhimant Bakshi (CEO/CMO), Mayuresh Kore (CFO/Head Legal), Shweta Singh (CS/CO).
• No financial implications disclosed.
• No other governance changes reported.

Financial results approved

• Unaudited standalone and consolidated results for quarter ended June 30, 2026 approved.

Key management appointment

• Ms. Shweta Singh appointed Company Secretary and Compliance Officer (KMP) effective Aug 7, 2026.

Transfer of NCRPS

• Transfer/sale of 1,21,00,000 20-year NCRPS in JBCG Advisory Services Pvt Ltd approved.

Post-reporting-date MN PPL investment

• Investment agreement signed July 31, 2026 to invest Rs 50 crore for majority stake in MN PPL.

Audit/Review status

• Limited review of results completed; unmodified report issued.

Subsidiary acquisition

• Imagicaaworld completed acquisition of 12,500 MNPPL shares for Rs 50 crore, making MNPPL a subsidiary.