AGM Notes 2022-23
Opening Remark:
- Company is now debt-free.
- Achieved the highest-ever revenue of ₹250 crore and ₹100 crore EBITDA.
- Opened a new location, Aquaimagicaa, in Surat.
- Attracted 11 million visitors (footfall) in FY2023.
- Expansion plans include adding 6 water rides to Imagicaa, a large banquet facility, and introducing a new fountain show for visitors at Imagicaa.
- Initiating the setup of a captive solar plant.
Q&A Session:
- Capex (capital expenditure) for the solar park is approximately ₹44 crore.
- Q1 (first quarter) performance is seasonal due to winter.
- Company is looking to expand in North India through organic and inorganic growth strategies.
- Aquaimagicaa in Surat achieved ₹11 crore EBITDA in Q1.
- NPA (Non-Performing Asset) default curve is fully addressed.
- Commenting on the merger or acquisition of WetNjoy and Imagicaa is too early at this stage.
- The company plans to add 2 to 3 parks within the next 5 to 7 years to Imagicaa.
- Negative depreciation is observed due to net impact (annual depreciation is ₹90 crore, with a reversal of ₹140 crore for impairment, resulting in a net impact of -₹51 crore).
- The company has added a water fountain show at night, enhancing the visitor experience.
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