Imagicaaworld Entertainment Reports Record 1.7x Growth In Revenue To Rs 184 Cr In Q1

Imagicaaworld Entertainment, India’s largest amusement and water park operator, announced its financial results for the quarter ended June 30, 2024, highlighting a remarkable 1.7x increase in revenue. The company reported a 76 per cent year-on-year (YoY) growth in revenue from operations, reaching Rs 184 crore in Q1 FY25, compared to Rs 104.7 crore in Q1 FY24.

Ebitda for the quarter was Rs 110 crore, reflecting a 103 per cent YoY increase, with Ebitda margins at 60 per cent. Profit Before Tax (PBT) before exceptional items surged by 176 per cent to Rs 91 crore, with a PBT margin of 49 per cent. Footfall grew by 119 per cent, with the number of visitors rising to 12.2 lakhs in Q1 FY25. Hotel ARR stood at Rs 9,654 with an occupancy rate of 57 per cent. Additionally, the company remains debt-free with a positive net cash balance.

Key financial highlights for the quarter (consolidated) reveal that revenue from operations reached Rs 184.0 crore in Q1FY25, a 76 per cent increase from Rs 104.7 crore in Q1FY24, and a significant 214 per cent rise from Rs 58.6 crore in Q4FY24. Ebitda stood at Rs 110.4 crore, up 103 per cent YoY from Rs 54.4 crore and up 475 per cent QoQ from Rs 19.2 crore. The Ebitda margin improved to 60 per cent from 52 per cent YoY and 33 per cent QoQ. Profit Before Tax (PBT) before exceptional items surged by 176 per cent YoY to Rs 91.3 crore and by 1630 per cent QoQ from Rs 5.28 crore. Profit After Tax (PAT) before exceptional items increased by 179 per cent YoY to Rs 69.1 crore and by 568 per cent QoQ from Rs 10.3 crore, with PAT margins rising to 37.6 per cent from 23.6 per cent YoY and 17.7 per cent QoQ. Footfall grew by 119 per cent YoY to 12.2 lakh visitors, compared to 5.56 lakh in Q1FY24 and 2.7 lakh in Q4FY24. Operating revenue includes SGST refunds.

Operational Highlights
Imagicaaworld has integrated and consolidated two water parks, one devotional theme park, and one amusement park owned by Giriraj Enterprises, the flagship company of Malpani Group. This merger has expanded their operations across five locations with eight parks in total, resulting in 1.2 million visitors in Q1 FY25 alone. During the quarter, the company launched two new shows at Saiteerth, India’s first devotional theme park, six new rides at the Water Park in Imagicaa, Khopoli, and eight new rides at Wet’nJoy Water Park, Shirdi.

Commenting on the Q1 FY25 performance, Jai Malpani, Managing Director of Imagicaaworld Entertainment, said, “As we conclude the first quarter of FY25, I’m excited to share the progress from our strategic restructuring over the past few years. By consolidating key assets—Imagicaa parks, Wet’nJoy, our five-star hotel, and Sai Teerth—under the listed umbrella, we’ve built a comprehensive portfolio that elevates guest experiences and sets a benchmark for entertainment destinations in India. Currently, we operate in two states and four locations with a strong foothold in western India. We are planning to expand our network into Central and Northern India, focusing on Tier-1 and Tier-2 cities. This consolidation will enable us to drive the expansion smoothly. Not only will we double our footfall through cross-park engagement, but we will also significantly increase revenue and profitability by activating cost synergies and streamlining operations. India’s changing economic landscape, marked by infrastructural development and rising discretionary spending, is a strong driver of our growth. Our 3C strategy—centred on urban clusters, catchment expansion, and connectivity—meets the shifting needs of our audience and drives sustained success. In today’s fast-paced world, we offer the perfect destination for families and friends to unwind and connect.”