Adlabs Entertainment : Smoother Ride Ahead?

Stock Opportunities Untested - but worth a good look
21

Thanks Maninder.

“Commencement of a new water park, Aquamagicaa, in Surat, in record turnaround time.” . Any idea when this is opening ?

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Hello, as per my understanding- it’s already operational.

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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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