Jungle Camps India Ltd

Financial Performance

• Q1 FY27 revenue from operations: ₹5.97 cr; Q1 FY26: ₹5.35 cr; YoY +12%.
• Other income: ₹0.28 cr; Q1 FY26: ₹0.35 cr.
• Total income: ₹6.25 cr; Q1 FY26: ₹5.70 cr.
• EBITDA: ₹1.69 cr; EBITDA margin 27% (Q1 FY27) vs 32% (Q1 FY26).
• PBT: ₹0.62 cr; PAT: ₹0.47 cr; PAT margin 8% vs 20%.
• Exceptional item: ₹0.52 cr related to Parsili project; non-recurring.
• ADR: ₹9,759 in Q1 FY27; Q1 FY26 ₹10,072; ~5% YoY change claimed.
• Occupancy: 45% in Q1 FY27 vs 43% in Q1 FY26.
• RevPAR: ₹4,763 in Q1 FY27 vs ₹4,353 in Q1 FY26; +9%.
• FY26 full-year: Total income ₹23.28 cr; EBITDA ₹7.48 cr; PAT ₹4.22 cr; Occupancy 40%; ADR ₹10,418; RevPAR ₹4,210.
• Total rooms: 95; 8 properties; 3 owned, 5 leased.
• Q1 FY27 room nights: 3,907; Q1 FY26: 3,736; FY27 room nights: 13,311; FY26: 14,030.

Portfolio and Growth

• Current footprint: 8 operational CAMPS across 4 states; 137 keys; 3 owned, 5 leased.
• Expanded capacity: Mathura Hotel from 60 to 105 rooms.
• Devprayag: 22 rooms; Bandhavgarh Palash Kothi under 5-year management; soft/open 2026.
• Rukhad/Bison Highway Retreat leased from MP Ecotourism Board; ongoing improvements.
• Parsili project canceled; upfront premium refundable ₹1.22 cr; performance security ₹0.50 cr refundable.
• Pipeline includes Kukru Jungle Camp; Panna/Satpura/Sariska/Jawai; Ratapani land under progress.

Projects and Capex

• Mathura project: total cost ₹49 cr; internal funding ~₹17 cr (IPO component ₹11.5 cr); bank debt ₹32 cr.
• Mathura debt deployment: partly in current year and partly in next year; interest rate 8.14%.
• Sheopur Fort: 60 rooms; Phase 1 ~35–40 rooms; loan ₹17.5 cr; total budget ₹25 cr.
• Palash Kothi (Bandhavgarh): 20 rooms; management agreement; 12-month property; 13% revenue share.
• Devprayag: 22 rooms; lease from UP-Tourism; capex ~₹1 cr; minor furnishings upgrades.
• Kukru Jungle Camp: 15–20 tents; capex ~₹7–7.5 cr; on track for FY28 opening.
• Kukru capex note: total project cost guidance ~₹77.5 cr; water supply is a key infra constraint.
• IHG Holiday Express tie-up for Mathura; branded international hotel open FY28; 105 rooms.

Balance Sheet and Cash Flows

• Debt mix: two-year moratorium followed by seven-year repayment for Mathura and Sheopur loans.
• Initial EMI ~₹53 lakh per month; annual ~₹6.5 cr; no working-capital debt expectation.
• Total debt outlook: around ₹50 cr by end FY28.
• Madhura lease/recovery: ₹1.35 cr received; ₹1.21 cr due; ₹1.22 cr premium refundable; GST not refunded.
• Lease rentals: Mathura 5% of gross revenue or ₹54 lakh—whichever higher; Sheopur ~₹5–3 lakh; Devprayag ₹28k; Kukru ₹61k.
• CWIP additions: standalone tangible assets up ~₹7 cr; includes IPO-related renovation and Sheopur renovation.
• Other income: interest from DC projects; IPO funds parked for DC projects.

Q&A Highlights

• ADR guidance for FY28: Bandhavgarh ₹8,000–₹12,000; Devprayag ₹5,000–₹6,000; seasonality noted.
• Rooms additions in FY28: Devprayag 22 rooms; Palash Kothi 20 rooms; Mathura/Sheopur 12-month properties.
• EBITDA margin target ~30%; new properties temporarily suppress margins until stabilisation.
• Debt plan: ~₹50 cr by FY28; EMI ~₹53 lakh/month; robust debt-servicing through operations.
• Operational risk: forest/land-related issues addressed with enhanced due diligence and upfront forest dept engagement.
• Execution risk acknowledged: two priority projects to be completed before scaling further.

Risks and Watchpoints

• Land/forest clearance risks; enhanced due diligence and upfront forest department engagement.
• Lease arrangements and renegotiation risk if commitments not met; monitoring of development timelines.
• Dependence on wildlife tourism; competition exists but managed with safari-led experience focus.

Meeting Details

• Date and time: 18 August 2026 at 4:00 PM; virtual conference call with analysts/investors.

Participants

• Key participants: management roles (unspecified names).

Purpose

• Purpose: audio recording of conference call discussing quarter ended June 2026 unaudited results.

Additional Notes

• Recording available on company website; transcript/presentation may be available.

Business Overview

• Wildlife-focused hospitality group with 12 properties (8 operational, 4 pipeline) across India.
• Portfolio spans Pench, Kanha, Tadoba, Rukhad, Bandhavgarh; owned and managed/leased assets.
• Listed on BSE SME; strategy focuses on asset-light expansion and new destinations.
• 8 operational properties, 4 in pipeline; 137 rooms; 250+ staff.

Q1 FY27 Highlights

• Q1FY27 revenue from operations ₹5.97 Cr; YoY +12%.
• Q1FY27 total income ₹6.25 Cr.
• Q1FY27 EBITDA ₹1.69 Cr; margin 27%.
• Q1FY27 PAT ₹0.47 Cr; margin 8%.
• Portfolio occupancy 45%; ADR ₹10,539; RevPAR ₹4,763.
• Parsili project canceled; ₹1.22 Cr premium refundable.
• ₹0.50 Cr performance security to be returned.
• Palash Kothi Bandhavgarh added under 5-year management; operations began June 2026.
• Devprayag Tourist Rest House project secured in Uttarakhand.
• IPO proceeds redeployed to Sheopur Fort project.

Financial Performance

• FY26 Total Income ₹24.66 Cr; EBITDA ₹7.48 Cr; PAT ₹4.22 Cr.
• FY26 Occupancy 40%; ADR ₹10,418; RevPAR ₹4,210.
• Consolidated Balance Sheet FY26: Cash ₹18.87 Cr; Total Assets ₹69.77 Cr; Equity ₹58.62 Cr; Borrowings ₹5.35 Cr.
• FY26 Revenue from Operations ₹23.28 Cr.

Expansion & Capital Allocation

• Mathura hotel capacity expanded to 105 rooms.
• Sheopur Fort Heritage Hotel lease for 90 years; renovation started.
• Palash Kothi Bandhavgarh added under 5-year management; operations began June 2026.
• Parsili project canceled; ₹1.22 Cr premium refundable; ₹0.50 Cr security to be returned.
• Devprayag Uttarakhand project secured.
• Kukru Jungle Camp proposed; funded from internal accruals.
• Advanced talks for Panna, Satpura, Sariska, Jawai; Ratapani land pending permissions.
• IPO proceeds ₹29.42 Cr reallocated to Sheopur Fort, MHPL, Pench Renovation.

Balance Sheet & Liquidity

• FY26 cash balance healthy at ₹18.87 Cr; total assets ₹69.77 Cr.
• Equity ₹58.62 Cr; borrowings ₹5.35 Cr; liquidity supports expansion.

Risks & Outlook

• Parsili cancellation under regulatory/environmental constraints; refunds underway.
• Asset-light growth depends on leases/management contracts; execution risk.
• IPO proceeds deployment tied to project timelines; funding gaps may arise.

Governance

• Promoter Gajendra Singh serves as Chairman & MD.
• Board includes WTD, NEDs and multiple independent directors.

Financial results

• Approved and recorded unaudited standalone and consolidated results for quarter ended 30 June 2026.

Auditors' report

• RA Kila & Co issued unmodified limited review reports on both results.

Deviation and compliance

• Deviation/variation in use of funds under Reg 32: Nil.

IPO fund reallocation

• Transfer of Rs 700 lakh IPO funds to Sheopur Fort approved.

Capital expenditure changes

• Renovation capex of Rs 350 lakh approved; special resolution dated 22 July 2025.
• Vendor change and project size increase for Madhuvan Hospitality to Rs 49 crore; rooms 60 to 100.

Investment and funds utilization

• Rs 879 lakh invested in Madhuvan Hospitality; remaining IPO funds in fixed deposits.
• Rs 700 lakh unutilized IPO funds invested in fixed deposits.
• Total IPO funds raised Rs 1150 lakh; Rs 879 lakh invested; Rs 150 lakh expenses.

Issue expenses

• Rs 150 lakh incurred as issue expenses per Prospectus dated 12 December 2024.

Meeting Details

• Date: Aug 18, 2026; Time: 4:00 PM.
• Type: conference call; Mode: virtual.
• Organizer: Jungle Camps India Limited.
• Purpose: discuss quarterly results for quarter ended 30.06.2026.
• Key company participant: Managing Director.

Certificate submission status

• Certificate under Regulation 74(5) forwarded by the Registrar and Share Transfer Agent.