Imagicaaworld Entertainment Limited (IMAGICAA)

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Imagicaaworld Entertainment Limited (IMAGICAA) · mywealthgrid

About

Imagicaaworld operates amusement parks and leisure facilities within Consumer Discretionary. Market cap ₹2,697 Cr; standalone quarterly revenues range ₹41–177 Cr reflecting strong seasonality. Promoter-controlled (74%) with minimal institutional presence (FII 0.36%, DII 1.88%).

Face value: ₹10

Market cap

₹2,869 Cr

P/E

206.6×

P/B

2.3×

Dividend yield

ROE

0.1%

ROCE

1.8%

Debt / equity

0.27

OPM

31%

EPS (TTM)

₹0.2

Book value

₹22.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme earnings volatility: net profit ranged from –₹39 Cr (Sep 2025) to +₹57 Cr (Jun 2026); EPS from –0.69 to +1.02 over nine months—verify operational sustainability and root causes
Very low ROE (0.05%) despite ₹2,697 Cr market cap; verify whether this reflects temporary cyclical trough or structural capital inefficiency
Very high PE (194.17) leaves minimal margin for earnings disappointment or operational setback
Significant seasonal revenue swings (₹41–177 Cr quarterly) combined with loss-making episodes suggest high operational leverage and fixed-cost sensitivity

Generated analysis · source review pending

Growth drivers

Operating margins reach 49–50% in Jun 2026; strong unit economics mean incremental revenue can convert substantially to profit if capacity absorbs demand
Profit recovery from –₹39 Cr (Sep 2025) to +₹57 Cr (Jun 2026) signals operational turnaround; verify if driven by pricing, cost discipline, or demand recovery
Low financial leverage (D/E 0.27) provides headroom for growth investment or shareholder returns once earnings stabilize
Quarterly revenue recovered from ₹41 Cr (Sep 2025) to ₹162–177 Cr (Jun 2026); verify whether recovery is structural demand growth or seasonal reversion pattern

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹50.7-1.2%1Y

Quick read

rule-based

Pros

+Strong return on equity of 37.6% (3-yr avg)
+Healthy operating margin of 31%
+Revenue CAGR of 76.3% over the last 5 years
+High promoter holding of 74% with no pledge

Cons

−Profit declined 87.9% a year over the last 3 years
−Weak interest coverage of 1.4×
−Expensive at 206.6× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

42/100

Business quality: 35
Growth: 60

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	234	239	236	240	200	22	72	251	260	410	374
COGS	-2	-0	26	24	22	3	-24	28	29	41	39
Gross profit	—	—	210	216	178	19	—	223	231	369	335
	196	179	148	169	182	54	64	138	135	194	219
	40	61	62	47	-4	-35	32	85	96	175	116
OPM %	17%	25.4%	26.4%	19.5%	-1.9%	-158.8%	44.9%	33.9%	37.1%	42.8%	31%
Depreciation	88	95	93	102	243	96	91	-51	79	89	98
Interest	111	121	128	134	152	163	188	53	2	11	20
	5	1	1	6	1	25	3	78	528	7	10
Profit before tax	-154	-154	-156	-182	-397	-269	-244	161	543	83	9
Tax	-50	—	0	165	0	0	0	-196	2	6	8
Tax %	-32.7%	—	0%	90.7%	0%	0%	0%	-121.7%	0.4%	7.2%	92.5%
	-104	-118	-156	-348	-397	-269	-244	357	541	77	1
PAT margin %	-44.4%	-49.5%	-66.1%	-144.7%	-198.7%	—	-338.8%	142.5%	208%	18.8%	0.2%
EPS (₹)	13	-14.8	-18.9	-39.5	-45.1	-30.5	-27.7	10.6	11.5	1.4	0
EPS adjusted (₹)	-13	-14.8	-17.8	-39.5	-45.1	-30.5	-27.6	8.7	11.2	1.4	0
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	80	80	88	88	88	88	88	412	482	566	566
Reserves	628	406	306	-26	-439	-706	-949	-176	313	687	688
	1,123	1,048	975	1,073	1,076	1,078	1,078	806	252	167	343
	177	102	200	182	303	475	656	66	51	468	158
Total equity & liabilities	2,009	1,637	1,569	1,316	1,029	935	873	1,107	1,098	1,888	1,754
	1,343	1,233	1,133	1,127	901	822	731	788	677	1,448	1,428
CWIP	131	95	86	—	—	0	0	11	54	32	4
Investments	—	—	—	106	—	0	0	6	10	66	13
	535	309	349	83	127	113	142	302	356	342	309
Total assets	2,009	1,637	1,569	1,316	1,029	935	873	1,107	1,098	1,888	1,754

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Parks Division	316.8	6.4	1,459.46	485.4	974.06	0.66
Hotel Division	57.05	11.6

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	89.8%	89.1%	87.2%	—	88.9%	89%	90%	89.5%
EBITDA margin %	19.5%	-1.9%	-158.8%	44.9%	33.9%	37.1%	42.8%	31%
EBIT margin %	-22.8%	-123.2%	-594.2%	-82.1%	54.2%	6.6%	21.1%	4.8%
PAT margin %	-144.7%	-198.7%	-1,223.3%	-338.8%	142.5%	208%	18.8%	0.2%
Working capital
Receivable days	14	9	33	17	7	6	9	6
Inventory days	212	1,401	10,698	1,048	196	204	178	183
Payable days	404	—	4,145	234	301	304	367	242
NWC days	-178	—	6,587	831	-98	-94	-181	-53
Leverage
Current ratio	0.05	0.08	0.07	0.08	0.16	0.48	0.61	0.51
Debt to EBITDA	22.85	—	—	33.35	9.48	2.62	0.95	2.95
Debt to equity	17.37	-3.06	-1.74	-1.25	3.43	0.32	0.13	0.27
Interest coverage	-0.4	-1.6	-0.7	-0.3	4.2	22.8	8.9	1.4
Asset turnover	0.18	0.19	0.02	0.08	0.23	0.24	0.22	0.21
Return ratios
Return on assets %	-26.4%	-38.6%	-28.7%	-28%	32.3%	49.3%	4.1%	0%
Return on capital employed %	-7.2%	171.8%	17.2%	6.5%	48.8%	5.7%	8.1%	1.8%
Return on equity %	-563.1%	113.1%	43.5%	28.3%	151.9%	68.1%	6.2%	0.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.85%	70.85%	70.85%	74.09%	74.09%	74.09%	74.02%	74.02%	74.02%	74.02%	74.02%	74.02%
	0.05%	0.08%	0.57%	0.56%	0.86%	0.53%	0.55%	0.58%	0.39%	0.4%	0.59%	0.36%
	6.99%	4.53%	2.87%	2.51%	2.51%	2.52%	2.41%	2.42%	2.42%	2.14%	1.98%	1.88%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	22.11%	24.54%	25.71%	22.84%	22.54%	22.86%	23.02%	22.98%	23.17%	23.44%	23.41%	23.74%
No. of shareholders	—	—	—	—	—	—	—	—	84,605	82,049	81,213	79,993

Promoter holding up 3.17 percentage points since Sep 2023.

20 deals · 8 Oct 2021 – 11 Jan 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
11 Jan 2024	JAINAM BROKING LIMITED	Bulk	NSE	Buy	28,47,563	₹67.65	₹19.26 Cr
11 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	26,27,844	₹65.99	₹17.34 Cr
11 Jan 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	26,27,844	₹65.97	₹17.34 Cr
11 Jan 2024	JAINAM BROKING LIMITED	Bulk	NSE	Sell	15,88,121	₹68.43	₹10.87 Cr
8 Jul 2022	VORA FINANCIAL SERVICES PVT LTD	Bulk	NSE	Sell	8,00,000	₹19.91	₹1.59 Cr
8 Jul 2022	YUGA STOCKS AND COMMODITIES PRIVATE LIMITED .	Bulk	NSE	Buy	5,75,071	₹19.91	₹1.14 Cr
8 Jul 2022	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	NSE	Buy	5,55,000	₹20.00	₹1.11 Cr
8 Jul 2022	VORA FINANCIAL SERVICES PVT LTD	Bulk	NSE	Buy	5,00,000	₹20.38	₹1.02 Cr
8 Jul 2022	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	NSE	Sell	4,85,132	₹19.94	₹0.97 Cr
8 Jul 2022	YUGA STOCKS AND COMMODITIES PRIVATE LIMITED .	Bulk	NSE	Sell	4,75,067	₹20.24	₹0.96 Cr

1–10 of 20

1 / 2

Mr. Rajesh Omkarnath MalpaniNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Manish Madhav MalpaniNon-Executive - Non Independent Director
Mr. Mayuresh KoreChief Financial Officer
Mr. Dhimant BakshiChief Executive Officer & Chief Marketing Officer
Mr. Jai Manish MalpaniExecutive Director-MD
Mrs. Anita Shyam PawarNon-Executive - Independent Director
Mr. Mohan Dattatray UmrotkarNon-Executive - Independent Director
Mr. Suresh Chandrakaladharan BharathwajNon-Executive - Independent Director
Mr. Abhijit Sharad ChawatheNon-Executive - Independent Director

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	436	0	0%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results7 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

99 announcementsExport CSV

30 Sept 2026, 4:01 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 5:49 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 1:37 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

17 Sept 2026, 12:51 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

16 Sept 2026, 3:29 pmCompany Update

Sale/Disposal Of Hotel Novotel Imagicaa

General PDF

15 Sept 2026, 4:36 pmCompany Update

Issuance Of Corporate Guarantee

General PDF

5 Sept 2026, 12:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

4 Sept 2026, 6:31 pmCompany Update

Letter To Shareholders Providing Web Link To Access The Notice Of 17Th (Seventeenth) Annual General Meeting ('AGM Notice') And Annual Report For The Financial Year 2025-26

General PDF

Date	Category	Subject	Filing
30 Sept 2026, 4:01 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 5:49 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	89.8%	89.1%	87.2%	—	88.9%	89%	90%	89.5%
EBITDA margin %	19.5%	-1.9%	-158.8%	44.9%	33.9%	37.1%	42.8%	31%
EBIT margin %	-22.8%	-123.2%	-594.2%	-82.1%	54.2%	6.6%	21.1%	4.8%
PAT margin %	-144.7%	-198.7%	-1,223.3%	-338.8%	142.5%	208%	18.8%	0.2%
Working capital
Receivable days	14	9	33	17	7	6	9	6
Inventory days	212	1,401	10,698	1,048	196	204	178	183
Payable days	404	—	4,145	234	301	304	367	242
NWC days	-178	—	6,587	831	-98	-94	-181	-53
Leverage
Current ratio	0.05	0.08	0.07	0.08	0.16	0.48	0.61	0.51
Debt to EBITDA	22.85	—	—	33.35	9.48	2.62	0.95	2.95
Debt to equity	17.37	-3.06	-1.74	-1.25	3.43	0.32	0.13	0.27
Interest coverage	-0.4	-1.6	-0.7	-0.3	4.2	22.8	8.9	1.4
Asset turnover	0.18	0.19	0.02	0.08	0.23	0.24	0.22	0.21
Return ratios
Return on assets %	-26.4%	-38.6%	-28.7%	-28%	32.3%	49.3%	4.1%	0%
Return on capital employed %	-7.2%	171.8%	17.2%	6.5%	48.8%	5.7%	8.1%	1.8%
Return on equity %	-563.1%	113.1%	43.5%	28.3%	151.9%	68.1%	6.2%	0.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Wonderla Holidays LimitedWONDERLAWONDERLA	₹3,144 Cr	₹3,145 Cr	₹593 Cr	₹200 Cr	31.7%	₹102 Cr	15.8%	6.2%	4.6%	-200
Imagicaaworld Entertainment LimitedIMAGICAAIMAGICAA	₹2,869 Cr	₹3,212 Cr	₹403 Cr	₹133 Cr	31%	₹14 Cr	0.2%	1.8%	0.1%	-53
Delta Corp LimitedDELTACORPDELTACORP	₹1,968 Cr	₹1,968 Cr	₹673 Cr	₹122 Cr	19%	₹-157 Cr	12.4%	4.9%	3.5%	-24
Complete Sports and Management India LtdCSMLCSML	₹418 Cr	₹427 Cr	₹82 Cr	₹13 Cr	15.6%	₹10 Cr	12.4%	19%	30.2%	—
Nicco Parks & Resorts LtdNICCOPARNICCOPAR	₹372 Cr	₹372 Cr	₹66 Cr	₹10 Cr	15.7%	₹-3 Cr	-4.1%	10.9%	-2.6%	-292
Silverstorm Parks And Resorts LtdSSPRLSSPRL	₹293 Cr	—	—	—	—	—	—	—	—	—
South Asian Enterprises LtdSAENTERSAENTER	₹21 Cr	₹21 Cr	₹2 Cr	₹-1 Cr	-35.4%	₹0 Cr	12.2%	-12.3%	5.8%	24
Hanman Fit LtdHANMANHANMAN	₹4 Cr	—	₹0 Cr	₹-0 Cr	-9.5%	₹-0 Cr	-47.6%	—	—	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	58	85	38	48	22	4	4	117	106	147	110
	-86	-43	4	-9	-10	-2	-0	-9	-64	-461	-287
	-343	-53	-46	-41	-11	-2	-1	-53	-2	251	156
Net cash flow	-371	-11	-4	-1	0	1	3	55	39	-63	-21
Free cash flow	—	—	—	—	—	4	4	99	43	-144	62
CFO / Operating profit %	145.5%	139.3%	60.6%	102.8%	—	—	13.9%	137.7%	110.2%	83.9%	94.8%

Imagicaaworld Entertainment Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

Announcements

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Food and Beverage · revenue

Imagicaaworld Entertainment Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Food and Beverage · revenue

1

1