Imagicaaworld Entertainment Limited (IMAGICAA)
₹46.50 +0.32% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Imagicaaworld Entertainment's revenue was ₹178 Cr (+19.9% year on year, +93.3% on the previous quarter), and net profit ₹57.6 Cr (+29.9% year on year); the operating margin was 50.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹178 | +19.9% | +93.3% |
| Operating profit | ₹90.1 | +24.1% | +197.4% |
| Net profit | ₹57.6 | +29.9% | — |
| EPS (₹) | 1.02 | +30.8% | — |
| Operating margin | 50.7% | — | — |
IMAGICAA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 39.04% of the IMAGICAA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 45.58%. That is close to its usual level. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 43.4% · 39.8% · 27.1% · 56.5% · 39.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Imagicaaworld Entertainment Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by the company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited. The RTA noted that no requests for dematerialisation were received from shareholders during the quarter. This filing is purely administrative and carries no financial or operational impact.
- Regulation 74(5) compliance certificate submitted for the quarter ended September 30, 2026
- Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 08, 2026
- Zero demat requests received from shareholders during the quarter ended September 30, 2026
Imagicaaworld Entertainment Limited has executed a binding MoU to sell its operating hotel undertaking, Hotel Novotel Imagicaa at Khopoli, to Juniper Hotels Limited on a slump sale basis for ₹248 crore. The transaction consideration represents approximately 61.5% of the company's TTM revenue (₹403 crore) and nearly matches its total debt of ₹268 crore. The deal is non-related party and is subject to definitive agreements and shareholder approval via postal ballot. The proceeds could significantly bolster the company's balance sheet or fund expansion into new regional parks.
- Entered into a binding MoU on October 5, 2026, with Juniper Hotels Limited for a slump sale.
- Lumpsum cash consideration fixed at ₹248,00,00,000 (₹248 crore), subject to TDS and standard adjustments.
- Sale covers the operating hotel undertaking Hotel Novotel Imagicaa located at Khopoli, Maharashtra.
- Transaction requires shareholder approval under Section 180(1)(a) of the Companies Act, 2013, to be conducted via postal ballot.
Imagicaaworld Entertainment Limited has disclosed the voting results and Scrutinizer's Report for its 17th Annual General Meeting held on September 29, 2026. All proposed ordinary resolutions were approved by shareholders with over 99.9% majority votes polled. These included the adoption of FY26 audited financial statements (99.998% in favour) and the re-appointment of retiring director Mr. Rajesh Malpani (99.942% in favour). A total of 41.99 crore votes were polled across 80,471 registered shareholders as of the cut-off date.
- Adoption of FY26 audited financial statements passed with 99.9976% votes in favour
- Re-appointment of director Rajesh Malpani approved with 99.9420% votes in favour
- Overall voter participation stood at 74.21% of outstanding shares (41,99,16,549 votes polled)
- Total shareholder count as on cut-off date September 22, 2026 was 80,471
Imagicaaworld Entertainment's Board has approved the allotment of 2,34,82,500 equity shares following the 100% conversion of convertible warrants issued in March 2025. The company received the remaining 75% subscription amount of Rs 129.45 crore, priced at Rs 73.50 per share—a notable premium to its current market price of Rs 50.50. The newly raised capital represents approximately 32% of TTM revenue (Rs 403 Cr) and nearly 5% of its market capitalization. Promoters maintain a ~75% holding post-conversion, and proceeds are earmarked for existing capital commitments, portfolio expansion, and indoor entertainment venues.
- Full conversion of 2,34,82,500 warrants into equity shares approved by the Board
- Received balance 75% consideration totaling Rs 129.45 crore
- Issue price fixed at Rs 73.50 per share, executed at a premium to current market price of Rs 50.50
- Promoter group maintains shareholding of nearly 75% with zero warrants outstanding
Imagicaaworld Entertainment has approved the allotment of 2,34,82,500 equity shares at an issue price of ₹73.50 each (face value ₹10 plus ₹63.50 premium) following the conversion of preferential warrants. The company received the remaining 75% subscription amount of ₹129.45 crore, taking total consideration for these converted warrants to ₹172.60 crore. Allottees include promoter Malpani Parks (1.70 crore shares) and non-promoters such as Cybage Software and Gopikishan Damani. Post-allotment, the company's paid-up share capital rises to ₹589.34 crore across 58.93 crore shares.
- Allotment of 2,34,82,500 equity shares of face value ₹10 each at an issue price of ₹73.50
- Receipt of ₹129,44,72,812.50 representing the balance 75% consideration
- Total warrant consideration stands at ₹172,59,63,750 with 0 warrants pending conversion
- Promoter Malpani Parks allotted 1,70,06,800 shares; promoter holding shifts from 74.02% to 73.95%
- Paid-up equity share capital increases to ₹589.34 crore (58,93,43,947 equity shares)
Imagicaaworld Entertainment's Board has approved the slump sale divestment of its 287-key Novotel Imagicaa hotel to Juniper Hotels for ₹248 crore. The transaction size represents ~61.5% of Imagicaaworld's TTM revenue (₹403 Cr) and nearly matches its total debt of ₹268 crore. The sale allows the company to exit a lower-margin hospitality asset (25-30% EBITDA margin) to redeploy capital into its core, higher-margin amusement park operations (40-45% EBITDA margin). The deal remains subject to execution of definitive agreements and statutory, regulatory, and shareholder approvals.
- Proposed divestment of 287-key Novotel Imagicaa hotel for a consideration of ₹248 crore
- Asset spans approximately 11 acres with a built-up area of around 2.8 lakh sq. ft. at Khopoli
- Divestment unlocks capital equivalent to ~61.5% of TTM revenue and over 92% of outstanding debt
- Parks business operates at 40-45% EBITDA margins vs hotel segment's 25-30% EBITDA margins
Imagicaaworld Entertainment's board has approved the slump sale of its operating hotel undertaking, Hotel Novotel Imagicaa (Khopoli), to Juniper Hotels for a cash consideration of ₹248 crore. The hotel contributed ₹57.02 crore (15.9%) to FY26 operating revenue and ₹96.74 crore (7.3%) to net worth. The deal consideration of ₹248 crore represents ~61.5% of TTM revenue (₹403 crore) and nearly covers the company's total debt of ₹268 crore. The transaction is targeted for completion by March 31, 2027, and proceeds will fund park expansions, new attractions, and debt reduction.
- Slump sale of Hotel Novotel Imagicaa to Juniper Hotels for ₹248 crore in cash
- Hotel contributed ₹57.02 crore (15.9% of FY26 operating revenue) and ₹96.74 crore net worth (7.3%)
- Sale proceeds (~₹248 crore) compare significantly to total outstanding debt of ₹268 crore
- Expected date of completion on or before March 31, 2027, subject to postal ballot shareholder approval
Imagicaaworld Entertainment Limited has issued a corporate guarantee of Rs 85 crore in favour of IDBI Trusteeship Services Limited acting as Security Trustee on behalf of HDFC Bank. The guarantee secures term loan facilities availed by its wholly owned subsidiary, Malpani Parks Indore Private Limited (MPIPL). The guarantee amount represents approximately 21.1% of the company's TTM revenue of Rs 403 crore and about 6.4% of its net worth of Rs 1,329 crore. The company stated there is no operational impact from this guarantee other than standard contingent disclosure in its financial statements.
- Corporate guarantee issued for an amount of Rs 85 crore (Rs 85,00,00,000)
- Guarantee issued on behalf of wholly owned subsidiary Malpani Parks Indore Private Limited (MPIPL)
- Provided in favour of IDBI Trusteeship Services Limited (Security Trustee) for term loans from HDFC Bank Limited
- Guarantee value equals ~21.1% of TTM revenue (Rs 403 Cr) and ~6.4% of net worth (Rs 1,329 Cr)
Imagicaaworld Entertainment Limited has issued a communication to shareholders who have not registered their email addresses, providing a web link to access the 17th Annual General Meeting (AGM) Notice and the Annual Report for FY 2025-26. The intimation is submitted under Regulation 36(1)(b) of SEBI LODR Regulations. This is a standard regulatory compliance filing with no impact on operations or financial performance.
- Issued web link access for the 17th Annual General Meeting (AGM) Notice
- Covers the Annual Report dispatch compliance for Financial Year 2025-26
- Filing made pursuant to Regulation 36(1)(b) of SEBI LODR Regulations, 2015
Imagicaaworld Entertainment Limited has issued the notice for its 17th Annual General Meeting scheduled for September 29, 2026, along with its FY25-26 Annual Report. The Board decided not to recommend any dividend for FY26, conserving capital to fund ongoing expansion projects and acquisition commitments. In FY26, consolidated revenue from operations fell to ₹37,385.38 Lakhs from ₹41,022.30 Lakhs in FY25, while total footfalls declined ~9% YoY to 24.7 Lakhs due to early and prolonged monsoon rains. Remote e-voting is set from September 26 to September 28, 2026, with the voting cut-off date fixed at September 22, 2026.
- 17th AGM scheduled for September 29, 2026, via Video Conferencing.
- Remote e-voting window opens September 26, 2026 (09:00 AM IST) and ends September 28, 2026 (05:00 PM IST), with cut-off on September 22, 2026.
- No dividend recommended for FY26 to preserve cash for financial obligations and park expansions.
- Consolidated FY26 visitor footfalls declined ~9% YoY to 24.7 Lakhs due to prolonged monsoon.
- Consolidated revenue from operations reported at ₹37,385.38 Lakhs compared to ₹41,022.30 Lakhs in FY25.
Imagicaaworld Entertainment Limited has responded to surveillance clarification queries issued by BSE and NSE on August 28, 2026, regarding significant price movement in its stock. The company stated that all material and price-sensitive information under Regulation 30 of SEBI LODR has been disclosed in a timely manner. It confirmed that there is currently no undisclosed price-sensitive information or impending announcement driving the stock price. The company stated that the share price movement is purely market-driven.
- Responded on August 30, 2026, to exchange queries dated August 28, 2026
- Confirmed full compliance with Regulation 30 disclosure requirements
- Stated no undisclosed price-sensitive information or material events exist
- Clarified that share price movements are purely market-driven
Imagicaaworld Entertainment Limited has notified the stock exchanges regarding the schedule for its 17th Annual General Meeting (AGM). The AGM is set to take place on Tuesday, September 29, 2026, at 03:00 PM IST via Video Conferencing or Other Audio Visual Means. This is a routine statutory intimation pursuant to MCA and SEBI guidelines.
- 17th Annual General Meeting scheduled for Tuesday, September 29, 2026
- Meeting to commence at 03:00 p.m. IST
- Conducted virtually via Video Conferencing (VC) / Other Audio Visual Means (OAVM)
Imagicaaworld released its Q1 FY27 earnings call transcript, reiterating its long-term strategy to expand its operational footprint from 9 to 12 parks by 2030 at a run rate of roughly one park per year. Management detailed unit capex expectations of ₹450 Cr for Tier-A metro developments (with ~25 rides) and ₹150 Cr for Tier-B cities across 20-25 acres. To minimize land acquisition costs—which typically comprise ~30% of total project outlay—the company is prioritizing PPP, royalty, and long-term lease models with state tourism bodies. Additionally, the company is scaling its indoor entertainment format via 'Hello Park', with signed agreements already in place for Hyderabad and Surat.
- Targets expanding operational portfolio from 9 parks to 12 parks by 2030, aiming for ~1 new park per year
- Capex pegged at ~₹450 Cr for large metro destination parks and ~₹150 Cr for Tier-B locations (20-25 acres)
- Land acquisition estimated at ~30% of project investment; management seeking PPP and lease structures to reduce upfront capital strain
- Expanding indoor urban footprint via Hello Park with first two locations signed in Hyderabad and Surat
- Khopoli asset includes a 287-key operational Novotel hotel alongside theme and water parks
Imagicaaworld Entertainment Limited has received a favorable final arbitration award dated August 12, 2026, in a dispute involving land parcels owned by the company. The claimant, Bharat Lekhraj Harwani, had sought specific performance on these land assets, but the Arbitral Tribunal ruled that the claimant was not entitled to such performance. Crucially, the award imposes zero financial liability on the company, protecting its asset base and reducing future litigation defense costs.
- Final arbitration award received on 12.08.2026 in favor of the company.
- Zero (NIL) financial liability or monetary impact imposed on the company.
- The dispute involved claims for specific performance on land parcels owned by the company.
- The ruling protects the company's core asset base, which includes 110 acres at Khopoli.
- Future litigation defense costs are expected to be minimal unless the order is further contested.
Imagicaaworld Entertainment has published the audio recording of its earnings conference call held on August 10, 2026. The call discussed the company's operational and financial performance for the quarter ended June 30, 2026. Given the company's current TTM revenue of Rs 374 Cr and a high P/E ratio of 4742.0, management's commentary on expansion and footfall trends is vital for justifying the current valuation. The recording is available on the company's website for public review.
- Earnings conference call held on August 10, 2026, at 3:00 PM IST
- Recording covers the financial performance for the quarter ended June 30, 2026
- Company maintains a TTM revenue of Rs 374 Cr with a market cap of Rs 3018 Cr
- Management previously reported an ARPU of Rs 1,299 in Q2FY26, a key metric for investors to track in this call
Financial Performance
Revenue Growth by Segment
Total revenue grew 52.4% YoY to INR 410 Cr in FY25. Ticket sales grew 69.3% to INR 225.9 Cr; Food & Beverage (F&B) grew 62.4% to INR 74.4 Cr; Hotel revenue grew 1.3% to INR 55.2 Cr; and Retail grew 15.2% to INR 15.2 Cr.
Geographic Revenue Split
Primary revenue is generated from Maharashtra (Khopoli, Lonavala, Shirdi). Expansion is underway in Gujarat (Surat and Ahmedabad) and Madhya Pradesh (Indore).
Profitability Margins
EBITDA margin improved to 42.9% in FY25 from 39.2% in FY24. H1FY26 Profit After Tax (PAT) stood at INR 10.2 Cr, a significant decline from INR 63.7 Cr in H1FY25 due to higher base and acquisition-related costs.
EBITDA Margin
Operating EBITDA margin was 42.9% in FY25, representing INR 176.1 Cr, a 66.9% increase over FY24 EBITDA of INR 105.5 Cr.
Capital Expenditure
The company acquired land for the Ahmedabad waterpark for INR 75 Cr. Net cash used in investing activities for H1FY26 was INR 71.5 Cr.
Credit Rating & Borrowing
ICRA withdrew the [ICRA]D rating in March 2023 at the company's request. Short-term borrowings stood at INR 54.9 Cr as of September 30, 2025.
Operational Drivers
Raw Materials
F&B supplies, retail merchandise, and power/fuel (INR 23 Cr in FY25).
Import Sources
Amusement rides are primarily imported; for example, 16 out of 17 attractions at the Surat park are imported.
Key Suppliers
Not disclosed in available documents; however, the company uses a company-wide centralized procurement and sourcing strategy.
Capacity Expansion
Current capacity includes 110 acres at Khopoli and 18 acres at Indore. Planned expansion includes India's largest waterpark near Ahmedabad following a 100% equity acquisition of Malpani Parks Ahmedabad Private Limited.
Raw Material Costs
Material costs were INR 41 Cr in FY25, representing 10% of total revenue, up 41.4% YoY.
Manufacturing Efficiency
Footfalls doubled to 27.5 lakhs in FY25 from 13.6 lakhs in FY24, reflecting high operative leverage where fixed costs are spread over a larger visitor base.
Strategic Growth
Expected Growth Rate
9-11%
Growth Strategy
Growth is driven by the acquisition of Wet’n Joy and Sai Teerth parks, the launch of Aqua Imagicaa Indore (March 2025), and entry into the Family Entertainment Center (FEC) segment through a strategic partnership with Hello Park for immersive phygital play parks.
Products & Services
Theme park tickets, water slides, snow park access, hotel room rentals (Novotel Imagicaa), F&B services, and retail merchandise.
Brand Portfolio
Imagicaa, Wet’n Joy, Sai Teerth, Aqua Imagicaa, Novotel Imagicaa, and Hello Park.
New Products/Services
Introduction of 'Hello Park' phygital indoor parks, granting exclusive rights to the subsidiary Imagicaa Next.
Market Expansion
Expansion into Ahmedabad (Gujarat) and Indore (Madhya Pradesh) to diversify geographic presence beyond Maharashtra.
Market Share & Ranking
Largest amusement and water park company in India.
Strategic Alliances
Partnership with Hello Park for the FEC segment and a PPP project for Aqua Imagicaa in Surat.
External Factors
Industry Trends
The industry is evolving toward higher non-ticketing revenue mixes (F&B, retail) and 'phygital' entertainment experiences to match global park standards.
Competitive Landscape
Competes with domestic amusement parks and international destination parks for leisure and social segment spending.
Competitive Moat
Moat is built on high entry barriers (land and capital), established brand equity as a 'complete family holiday destination,' and high operating leverage that rewards scale.
Macro Economic Sensitivity
Highly sensitive to discretionary spending power of Indian consumers and the 9-11% CAGR growth of the Indian amusement park industry.
Consumer Behavior
Increasing propensity of Indian consumers to spend on experiential entertainment and weekend getaways.
Regulatory & Governance
Industry Regulations
Compliance with ISO/IS 9001:2008 standards for Quality Management Systems as certified by the Bureau of Indian Standards (BIS).
Risk Analysis
Key Uncertainties
Weather-related risks, specifically heavy monsoons, which limited Q2FY26 revenue growth to 4.6% despite strong ARPU gains.
Geographic Concentration Risk
High concentration in Maharashtra, though currently being mitigated by expansion into Gujarat and Madhya Pradesh.
Third Party Dependencies
Dependency on international ride innovators and manufacturers for world-class attractions.
Technology Obsolescence Risk
Mitigated by management participation in international trade fairs and 'think tank' sessions to adopt next-generation entertainment technologies.
