Wonderla Holidays Limited — Investor Meet, 03-02-2025: Analysts/Institutional Investor Meet/Con. Call Updates

**Financial Performance:** Wonderla Holidays reported a revenue of INR121.5 crore for the quarter, reflecting a decrease of 2% year-over-year. EBITDA stood at INR42.2 crore, down 30.3%, yielding an EBITDA margin of 33.3%. Profit after tax was INR20.3 crore, a decrease of 45.7% compared to the previous year, with the PAT margin at 16.1%. For the nine-month period, revenue reached INR361.8 crore, down 5.6%, with EBITDA at INR140.9 crore, and net profit at INR98.3 crore.

**Future Outlook and Growth Drivers:** Management remains optimistic, focusing on expansion with the Chennai Park expected to commence operations in December 2025. Strategic initiatives include enhancements across existing parks and digital transformation efforts to improve customer engagement.

**Order Book and Operational Updates:** The company experienced notable footfall growth in its Hyderabad Park, attributed largely to increased group bookings. However, challenges in Bangalore and Kochi due to weather fluctuations impacted overall attendance, especially during critical periods like school outings.

**Analyst Q&A Insights (Detailed):** Analysts sought clarity on revenue drivers and potential risks. Management acknowledged the impact of unexpected weather events on footfall and outlined efforts to enhance attraction offerings to boost group engagement and overall attendance across parks. Concerns regarding capital allocation strategies were also addressed, with assurance on prudent management of debt levels and funding for new projects.

**Strategic Focus Areas:** The management emphasized innovation in guest experiences and maintaining operational efficiencies as central strategies moving forward. This includes engaging more with tour operators and enhancing non-ticket revenues, which are growing robustly.

**Investor Insight:** Given the current financial metrics mixed with long-term growth potential from strategic expansions and existing park renovations, the observed financial health aligns more with a "hold" position, factoring in some near-term uncertainties, especially regarding weather impacts and consumption trends. Despite challenges, the underlying demand dynamics in the sector offer a cautiously optimistic view for recovery in the coming quarters.