Imagicaaworld Q1 Results Review - Synergy Benefits Key To Re-Rating: Prabhudas Lilladher

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.Imagicaaworld Entertainment Ltd. reported strong operational performance with Ebitda margin of 59.3% (PLe 51.9%), while bottom-line was aided by a change in depreciation policy. We increase our Ebitda estimates by 4.4%/2.7% for FY25E/FY26E in the light of strong performance in Q1 FY25. However, our PAT estimates have undergone a major revision as new parks acquired via slump sale will be depreciated under the SLM policy. Consolidation of parks at Lonavala and Shirdi not only acts as a growth kicker but is also expected to lend significant synergy benefits arising from food and beverage vendor consolidation and employee cost rationalization. Launch magic pass, addition of another banquet at a hotel in Khopoli and introduction of retail products at Wet’nJoy parks are possible triggers that can result in earnings upgrade. We expect sales/Ebitda compound annual growth rate of 31.8%/43.4% over FY24-FY27E and retain Buy on the stock with an SOTP-based target price of Rs 116 (earlier Rs 112) valuing the park/hotel business at enterprise value/Ebitda multiple of 23 times /21 times (no change in target multiple)..Click on the attachment to read the full report:.Narayana Hrudayalaya Q1 Results Review - Inline Ebitda Aided By India Business: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Imagicaaworld Q1 Results Review - Synergy Benefits Key To Re-Rating: Prabhudas Lilladher

Launch magic pass, addition of another banquet at a hotel in Khopoli and introduction of retail products at Wet’nJoy parks are possible triggers that can result in earnings upgrade, says the brokerage

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Imagicaaworld Q1 Results Review - Synergy Benefits Key To Re-Rating: Prabhudas Lilladher

Launch magic pass, addition of another banquet at a hotel in Khopoli and introduction of retail products at Wet’nJoy parks are possible triggers that can result in earnings upgrade, says the brokerage

Choose a plan

Follow Us

DOWNLOAD THE APP