Q1 2027 Wonderla Holidays Ltd Earnings Call Transcript
Key Points
- Record Q1 FY27 performance with revenue of INR252 crore, up 41% YoY, and EBITDA of INR122 crore, up 39% YoY.
- Chennai Park scaled rapidly, contributing INR45 crore revenue and 2.42 lakh footfalls in its first year, with EBITDA of INR21.86 crore.
- Mature parks (Bengaluru, Kochi, Hyderabad, Bhubaneswar) delivered 15% revenue growth, driven by 7% footfall growth and 8% ARPU growth.
- Non-ticket spend per guest surged 20% YoY to INR591, boosting ARPU to INR1,901, reflecting successful premiumization and in-park experiences.
- Hospitality business (resorts) delivered its best-ever quarter, with Hyderabad Park also achieving a record quarter, indicating strong ancillary growth.
- Management confirmed plans to expand with 1-2 large parks and 1-2 small parks over the next 3-4 years, with announcements expected by end of FY27.
- Strong balance sheet with net cash of INR400+ crore, providing financial flexibility for future expansions.
- Chennai Park is tracking at mature park margins (48% EBITDA margin) in its first year, with one of the fastest ramp-ups in company history.
- New roller coaster in Bengaluru has been well-received, improving customer experience and driving repeat visits.
- Management is exploring asset-light models and standalone resort opportunities (e.g., Goa) to diversify growth.
- Footfall growth is unpredictable and may not be sustainable; Q1 benefited from favorable weather (less unseasonal rain) and a low base.
- Chennai Park's full-year performance is uncertain; Q1 is seasonally strong, and Q2 is typically weaker, so margins may not hold.
- Corporate overheads increased by INR6.5 crore due to investments in digital transformation and organizational strengthening, pressuring margins.
- Bhubaneswar Park (small format) has seen flattish ARPU and slower footfall growth, indicating challenges in tier-2/3 markets.
- Heavy rainfall and landslides in Kerala (Kochi Park) could disrupt operations and impact footfalls in Q2.
- Management has not provided clear guidance on new park announcements, creating uncertainty and an overhang on the stock.
- Hyderabad Park's trailing 12-month footfall was flat (895k vs 893k), despite Q1 growth, suggesting volatility in performance.
- Chennai Park's revenue is still small relative to mature parks, and it will take 2-3 years to reach peak footfall (1 million+).
- The company is not pursuing IP licensing (e.g., Chota Bheem) due to financial viability concerns, potentially limiting brand appeal.
- Resort business EBITDA is not disclosed, and management is still evaluating scalability, adding uncertainty to future investments.
Ladies and Gentlemen, Good day and welcome to Wonderla Holidays Limited Q1 FY27 Earnings Conference Call hosted by MUFG Enzyme. As a reminder, all participants live will be in listen-only board and there will be an opportunity for you to ask questions after the presentation concludes.
(Operator Instructions)
Please note that this conference is being recorded. I now hand over the. Conference to Mr. Omkar Bagwe from MUFG in time.
Thank you and over to you Mr. Omkar.
Everyone, I welcome you all to the earnings conference call to discuss Q1 FY27 results of Wonderla Holidays Limited. To discuss our results, we have with us from the management Mr. Arun Chittilapilli; the Managing Director, Mr. Saji Louiz; Chief Financial Officer and Mr. Dheeran Chaudhary; Chief Operating Officer. They will take you through. The results and then we will proceed to Q&A session. Before we proceed to the call a small disclaimer this conference may contain certain forward-looking
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