Wonderla Holiday Q1 FY27 Results (NSE: WONDERLA)
Signal: Margin pressure
The read
The operating inflection is demand and asset-ramp driven: footfalls rose 33% YoY to 12.25 lakhs, existing parks delivered approximately 15% revenue growth through 7% footfall and 8% ARPU growth, and Chennai added ₹45 crore of revenue; however, EBITDA margin fell 100bps to 48% as EBITDA growth of 39% trailed income growth of 41%, so sustained profitability depends on new-asset scaling and conversion of premiumisation into margin expansion.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹252.1 Cr | 41% | N/A |
| Net profit | ₹72.8 Cr | 38% | |
| EBIT margin | 48% |
P&L walk
Total income grew 41% YoY to ₹25,210.21 lakh and EBITDA grew 39% to ₹12,198.96 lakh, while EBITDA margin declined 100bps to 48%; PAT still increased 38% to ₹7,279.66 lakh, supported by broad-based park performance and Chennai ramp-up.
Key positives
- Total income rose 41% YoY to ₹25,210.21 lakh, with footfalls increasing 33% YoY to 12.25 lakhs.
- Existing parks delivered approximately 15% revenue growth, combining 7% footfall growth with 8% ARPU growth, indicating both demand and monetisation momentum.
- Chennai contributed ₹45 crore of revenue on 2.42 lakh footfalls in its first year, providing a material new growth leg.
- Hyderabad and the resorts business delivered their best-ever Q1 performance, while management cited premium offerings and customer-experience investments as demand drivers.
Key concerns
- EBITDA grew 39% YoY to ₹12,198.96 lakh versus 41% total-income growth, compressing EBITDA margin by 100bps to 48%.
- The quarter's growth includes the ramp-up of Chennai, which contributed ₹45 crore of revenue; future returns depend on continued utilisation and profitability scaling of the new asset.
- The filing does not quantify park-level revenue, EBITDA or utilisation, limiting assessment of whether growth is broad-based and margin-accretive.
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