Ranvir’s Portfolio

Wonderla Holidays Q1 concall highlights-

Current Portfolio-

03 theme parks-Bangaluru, Kochi, Chennai

01 Resort

Portfolio wise performance in Q1 –

Bengaluru park –

Sale-80 vs 60 cr, up 34 pc
Footfalls-4.7 vs 4.2 lakh, up 11 pc
Avg Ticket Price-Rs 1323 vs 1075 cr, up 23 pc

Non ticket revenue-Rs 396 vs 350, up 13 pc
APRU-Rs 1720 vs 1420, up 21 pc

This park has 40 land slides and 21 wet slides

Bangaluru Resort-

3 Star property, 84 rooms, suitable for wedding receptions, parties etc

Revenues-5.3 vs 4.8 cr
Occupancy-69 vs 80 pc
ARR-Rs 5888 vs 4891

Kochi park –

Revenue – 47 vs 39 cr, up 20 pc
Footfalls – 3.2 vs 3.5 cr, down 8 pc
Avg Ticket price – Rs 1145 vs 882, up 30 pc
Avg non ticket price – Rs 326 vs 244, up 34 pc
ARPU – Rs 1471 vs 1126, up 31 pc

Hyderabad park –

Revenue – 51 vs 46 cr
Footfalls – 3.1 vs 3.4 lakh

Avg ticket price- Rs 1224 vs 986, up 24 pc
Avg non ticket price-Rs 418 vs 338 , up 24 pc
ARPU- Rs 1642 vs 1324, up 24 pc

Consol results-

Sales- 190 vs 152 cr, up 25 pc
EBITDA- 122 vs 94 cr, up 30 pc
PAT- 84 vs 64 cr, up 31 pc

Company running 15 restraunts across 3 parks

4th park to come up next FY in Orrisa

Recieved regulatory clearance for Chennai theme park. Construction to commence soon

Have signed MoUs with UP, Punjab Govts for construction of new theme parks. Expect some announcement wrt expansion this FY

Company remains debt free

Fall in footfalls (YoY) in Kochi, Hyd- due pent up demand post COVID in Q1 LY. Bengaluru remains far more bouyant because of greater per capita income and population density in the region

Hence, not worried about footfall de-growth in Hyd, Kochi

Refurbishment/Expansion to take place at the resort in Bengaluru. Adding 2 new Bars, 40 rooms, 01 convention centre

Looking to build new resort in Hyd-work may start sometime next FY

Growth in Non-ticketing revenues due various initiatives taken by company wrt its F&B offerings

Confident of achieving 5 pc footfall growth this FY at the company level

Aim to go for lease models for further expansion into newer states. Size of the park to be commensurate to the size of opportunity – eg – a smaller park in Indore vs larger in Ahmedabad

Spending 70 cr on maint capex and adding 5-6 new attractions to all three parks this yr

Should be able to complete Chennai park construction by June 25

Chennai park to have at least 30-40 pc different slides / experiences vs the Bengaluru / Kochi park

Aim to achieve 15-20 pc revenue growth for full FY

Company’s equipment is either European or made in India. No equipment is Chinese

About half of the land is un-utilised in the existing 3 parks – have huge headroom for expansion if demand dictates so

Disc: holding, biased