ValuePickr Forum

Wonderla Holidays

(mashasoman) #309

@aravindaryan excellent read thanks for sharing. Great way to bring up the business by Mr. Chitlappilly

(axiskumar) #310

I used Screener down load and updated numbers as per suggestion given in excel where went wrong in the numbers…it shows as per intrisic value is should show 600 cr…is that correct?

Please find the attached numbers and tell me where went wrong in numbers.Wonderla Holiday.xlsx (111.4 KB)

(Vivek) #311

They seems to be shuffling the shareholding pattern between promoters.
Mr Arun has transferred 4.67 % to Arav Chitillapally Trust

what could be the reason? Arun has taken his holding to less that 10% now, Does anyone think there is any family issues playing in wonderla?

more transfers today also: https://www.bseindia.com/xml-data/corpfiling/AttachLive/FAD8EB6F_BE5F_4F2E_95A0_A8309F91D101_120345.pdf

1 Like
(nvkl) #312

Hi, seems he has just created a trust in his son’s name & transferred the shares.
The company has clarified the the nature of the transaction on the exchange today.

(IcyHot) #313

The story seems intact regardless of such transactions.Havent heard of any misgovernance news so far. Below 270 its a deal (as per 2016 EM analysis) so adding more as it goes below 265…
Disc:Invested

1 Like
(anandrkris) #314

Q3 Results, decent recovery compared to Q2 which suffered a blow due to KL floods.

(anandrkris) #315

Q3 ‘19 Investor Presentation - unfortunately Chennai Park plans seems to be in limbo.

(IcyHot) #316

At the recent Investor meet at NDMC Center in C. P, Delhi somebody pointed that Disney is moving away from amusement parks business because footfalls could be affected by various problems like bad weather, terrorism, isssues like GST… or people can simply get bored with the rides and if they do get bored there will certainly be a capex to replace the rides etc… so Disney is moving away from parks towards movie production and its purchasing movie rights, (btw a Marvel comics adoptation makes superb business sense). Zee entertainment’s new app has become the second most popular app online…after Netflix and so biggies like Jio content would be eager to purchse movie rights from them… so no doubt zee will get a buyer soon…
So is this consumer aspect a threat for amusement parks (Wonderla) in Indian context? or should we rubbish this argument because amusement park industry is in growth state (& not in maturity like disney)

1 Like
(Growth_without Debt) #317
(bmathew) #318

(khs) #319

FY19 results: https://www.bseindia.com/xml-data/corpfiling/AttachLive/dca93fd4-20a9-48b9-b36b-faf468b71e90.pdf

Decent numbers

(goyal.neelesh) #320

The conference call was quite informative too. One of the participants asked about the value of spare land with the company. 188 [email protected] Rs. 10 crores/acre turns out to be more than the current market capitalization of the company.

1 Like
(Divyanshu Bagga) #321

Your estimate of 10cr per acre seems excessive. According to their presentation, a typical park costs 250-350 cr including land costs, so my guess, land cost should not be more than 1cr per acre.

2 Likes
(sambandham82) #322

I think 4 cr in Bangalore and Hyderabad, 3 cr for cochin may be nominal value per acre.I dont think 250-300 Cr is enough to build bangalore park which may cost 500 cr. Land area is different in different parks. Bangalore land value itself may be 300 cr.

City Locality Acres
Bangalore Bidadi 81.75
Kochi Pallikara 93.17
Hyderabad Adibatla 49.5

Also area is 224 acres and not 188 acres as per my calculation. Can anyone clarify?

(Naveen George) #323

188 acres is unused land. Rest is developed.

(goyal.neelesh) #325

It is not my estimate. This is the figure the management quoted in the call.

(Gorthi) #326

Where do I find conference call details

(goyal.neelesh) #327

Www.Researchbytes.com

(bmathew) #328

call script - https://www.bseindia.com/xml-data/corpfiling/AttachLive/b8589980-fed8-4ac6-aece-0d41831d2f08.pdf

(Harsh04) #329

The mgmt has been quite clear and vocal about their usage of the land.
quote// Appreciation of the property is not our main motive. We keep the property for our own and plan to add rides or resort in future.//unquote

Having known this, how does prices of land ADD ON to the valuation ?