Imagicaaworld Entertainment Limited is recognized as India's inaugural global-scale theme leisure and entertainment destination. Its flagship park, Imagicaa, is situated in Khopoli and spans an impressive 110 acres. This integrated entertainment complex boasts a theme park, water park, snow park, and the 5-star Novotel Imagica Khopoli hotel. The company's core business involves the development and operation of theme-based entertainment destinations throughout India, encompassing theme parks, water parks, and associated revenue streams such as retail merchandising and food and beverages. Its operational segments are clearly defined as Tickets, Food and Beverage, Merchandise, Rooms, and Other Operations.
The company's revenue generation is diversified across several key segments. The Tickets segment includes admissions to the theme park, water park, and snow park. The Food and Beverage segment comprises dining facilities in both park restaurants and the hotel. The Merchandise segment covers retail operations at both the park and the hotel. Lastly, the Rooms segment provides accommodation services through its hotel.
Imagicaaworld Entertainment Limited operates a leading portfolio of theme and water parks in India, including flagship brands like Imagicaa, WetnJoy, SaiTeerth, and Aqua Imagicaa, strategically located across various regions. The company has been actively broadening its presence through the introduction of new attractions and strategic acquisitions, all aimed at reinforcing its market standing.
Imagicaaworld Entertainment Limited has demonstrated a strong financial trajectory, highlighted by its robust performance in recent periods. As of the latest available data, the company commands a market capitalization of ₹3,890 Crores. The stock is currently trading with a Price-to-Earnings (P/E) ratio of 52.0, a book value of ₹19.8, and exhibits a Return on Capital Employed (ROCE) of 3.04% and a Return on Equity (ROE) of 7.61%.
The company announced its strongest-ever financial performance for FY25, achieving revenues of ₹410 Crores, a significant growth of 52%. This robust revenue growth was complemented by improved EBITDA margins, which rose from 39% in FY24 to 43% in FY25. This improvement is attributed to enhanced operational efficiencies and better synergies across its park locations.
In its quarterly performance, Imagicaaworld Entertainment reported a remarkable surge in net profit for Q4 FY25, jumping by 217.78% compared to the same period in the previous year, reaching ₹15.73 Crores. The company has shown consistent revenue growth, with a significant increase from ₹43.07 Crores to ₹97.64 Crores over the last three quarters, reflecting an average quarterly increase of 29.1%. For Q3 FY25, revenue saw a year-on-year increase of 27.14% to ₹93.56 Crores, with a substantial quarterly growth of 117.23% compared to the preceding quarter.
- FY25 Revenue: ₹410 Crores (52% growth)
- FY25 EBITDA Margins: 43% (Up from 39% in FY24)
- Q4 FY25 Net Profit: ₹15.73 Crores (217.78% YoY growth)
- Q3 FY25 Revenue: ₹93.56 Crores (27.14% YoY growth)
- Market Capitalization: ₹3,890 Crores
- P/E Ratio: 52.0
- Book Value: ₹19.8
- ROCE: 3.04%
- ROE: 7.61%
Imagicaaworld Entertainment's operational strength lies in its diverse portfolio of theme and water parks across India. The company's strategic expansion is evident in the recent launch of its second Aqua Imagicaa park in Indore, making it the largest water park in Madhya Pradesh and expanding its water park portfolio to five. This expansion brings the total number of parks under its management to eight, with a management commitment to launching one new park annually.
Furthermore, the company has enhanced its offerings at the Wet'nJoy Water Park in Lonavala by introducing 10 new water slides, increasing its total water attractions to 31. These new attractions were opened to the public on April 8, 2025, designed to provide a thrilling experience for visitors of all ages.
The company's product portfolio is centered around its world-class entertainment destinations. Its flagship project at Khalapur, situated on the Mumbai-Pune Expressway, is strategically located to attract visitors from major economic hubs like Mumbai, Pune, and other parts of Maharashtra and Gujarat. This prime location is a significant advantage in capitalizing on India's most economically developed regions.
In FY25, the company achieved substantial operational milestones, including a near doubling of footfall to 2.7 million visitors and a surge in EBITDA by 67%. Management anticipates a strong performance in Q1 FY26, driven by seasonal demand patterns inherent to the entertainment and leisure sector.
Imagicaaworld Entertainment is strategically positioned for continued growth in India's burgeoning entertainment and leisure market. The company has significantly improved its financial health by substantially reducing its debt, and is now considered almost debt-free. Analyst recommendations reflect a positive outlook, with a 100% buy rating and an average target price of ₹93, indicating a potential upside of 30.56% from current market levels.
While the company presents a compelling investment case, investors should be mindful of potential risks, particularly the inherent seasonal revenue dependence. The entertainment and leisure industry is susceptible to economic cycles, seasonal variations, and other external factors that can influence visitor footfall and revenue generation.
Imagicaaworld Entertainment represents a unique investment opportunity in India's expanding entertainment and leisure sector. Its strong operational fundamentals, ambitious strategic expansion plans, and consistently improving financial metrics are well-positioned to capitalize on future market opportunities and drive continued growth within the domestic entertainment market.
