**Financial Highlights:**
Wonderla Holidays’ revenue stood at ₹96.78 Cr for Q4 and ₹458.57 Cr for FY25, reflecting declines of 3% and 5% YoY. Adjusted EBITDA dropped 24% QoQ to ₹31.84 Cr in Q4 and 29% YoY to ₹178.85 Cr for the year, with margins compressing to 30% in the quarter and 37% annually. PAT halved sequentially to ₹11.01 Cr in Q4 and fell 31% to ₹109.27 Cr for FY25. Visitor footfalls declined 4% QoQ to 6.78 lakhs and 6% YoY to 30.49 lakhs. ARPU showed resilience, edging up 2% in Q4 and 1% for the year.
**Strategic Initiatives & Growth Drivers:**
The Bhubaneswar park is now fully operational, with Chennai park under construction. The company is enhancing visitor experience via integrated resorts, launching new rides and high-energy events, and expanding its digital platform where online bookings have surpassed walk-ins.
**Business Developments:**
F&B revenues are supported by new food counters across parks. Curated themed festivals help sustain footfalls and engagement. In-house ride design and manufacturing keep costs controlled and product customization feasible.
**Market Position & Competitive Advantage:**
With over 40 million visitors so far, Wonderla leads as India’s most visited amusement park chain. Its debt-free capital structure, strategically located parks near urban hubs, and a diversified portfolio including resorts provide scale and differentiation.
**Investor Implications:**
Growth potential is underpinned by new park launches and digital traction. However, margin pressures and footfall declines pose execution risks. Monitoring EBITDA margin recovery and Chennai park performance will be key for assessing medium-term earnings upside.