Wonderla Holidays

Q1FY25 Concall Summary

Business Updates

• The growth was lower due to external factors and footfalls were affected by heat wave, elections and water shortages
• There has also been a decline in discretionary spending
• The fourth park at Bhubaneswar has commenced operations during the quarter
• The park in Chennai is expected to operationalize in Dec 2025
• The management is in talks with other states for new parks and board has given approval for a fund raise to setup capex for the new parks over the next 7-8 years

Participants

Ambit Capital

RK Bhojani & Associates

RSPN Ventures

DSP Mutual Fund

QnA

• The expectation for Bhubaneswar park is a footfall of 4.5 lakhs for the first year and expecting a double digit footfall growth post that for the initial years
• There are 2-3 projects already in the pipeline so would like to raise the capital first and it will be declared to exchange in due course of time once finalized
• Presently there are 4 operating parks and one under construction. The company is in talks with state governments for 5 other parks and thus the capital raise will be for this expansion over the next 7-8 years
• The revenue from Bhubaneswar in Q1 was Rs 9 crores and EBITDA in Q1 was around Rs 85 lakhs. This was operational for around 38 days
• The moat with the company is a combination of an amusement park and water park and the ride quality is better with lower cost of setup
• The focus will be to get the footfall back and could resort to discounting as well which will keep the ARPU in check and hence not much growth in this number should be expected