Small-cap stock engaged in the business of development and operations of theme-based entertainment destinations in India jumped 8 percent in the day’s trade after it Signed an MoU to set up a theme park in Uttarakhand.
In the day’s trade, the shares of Imagicaaworld Entertainment Limited closed at Rs. 59.35, up 8.40 percent from its previous day’s close price of Rs. 54.75 and its market capitalization is Rs. 2,845 Crores.
Imagicaaworld Entertainment Limited has signed a Memorandum of Understanding(MoU) with the government of Uttarakhand at the Global Investors Summit 2023 held on December 8, 2023, to set up an entertainment park in the State of Uttarakhand.
In addition to this, It is expanding its water park in Khapoli to include six more rides and a well-appointed banquet that can accommodate 1500 visitors.
The Flagship Imagicaa park at Khopoli is spread over 110 acres, an all-weather family entertainment destination comprising a Theme Park, Water Park, Snow Park, and a 5-star Hotel that provides an array of exciting and interesting experiences for all its guests, 365 days a year. In FY23, it had 1.36 Million footfalls.
In Q2FY24 it generated 59.6 percent of its revenue from Ticketing, 22.1 percent from food & beverage, 7.4 percent from retail, and 10.8 percent from others.
India’s amusement park market size is USD 500 Million and it is expected to grow at ~10 percent by 2027. There are ~150 amusement parks in India.
India presents significant untapped potential due to its large population, growing middle class, and changing consumer preferences. Only a handful of major amusement parks in India have a footfall of greater than 0.5 million/year, it presents a huge opportunity for the sector in the coming year.
With strategic investments, focus on local market appeal, and supportive government policies, India’s theme park industry can witness substantial growth and become a key player in the global leisure and entertainment sector
The company’s revenue from operations grew 247.79 percent from Rs. 72.04 Crores in FY22 to Rs. 250.55 Crores in FY23, accompanied by a loss of Rs. 244.07 Crores to Rs. 357.14 Crores.
Imagicaaworld Entertainment Limited is engaged in the business of development and operations of theme-based entertainment destinations in India, like theme parks, water parks, and associated activities.
Written by: Bharath K.S
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