Imagicaaworld Entertainment Ltd (IMAGICAA)
🎯 Key Takeaways
- Imagicaaworld Entertainment is transitioning from a seasonal outdoor entertainment model to a diversified, asset-light indoor expansion strategy anchored in new formats like Hello Park and strategic stakes in water parks. Management is actively de-risking the business by targeting year-round engagement across Tier I and fast-growing Tier II cities, with a focus on scalable, lower-capital formats.
- Revenue grew 93.3% QoQ to ₹178 in Q1FY27.
- ⚠️ 1) Heavy reliance on footfall-driven revenue in a niche, discretionary sector makes performance vulnerable to economic slowdowns or shifting consumer
- Market Cap
- ₹2,905
- P/E Ratio
- 205.3
- P/B Ratio
- 2.40
- ROE
- 1.1%
- ROCE
- 3.1%
- Debt/Equity
- 0.28
- Promoter
- 74.0%
📖 The Story
Imagicaaworld Entertainment is transitioning from a seasonal outdoor entertainment model to a diversified, asset-light indoor expansion strategy anchored in new formats like Hello Park and strategic stakes in water parks. Management is actively de-risking the business by targeting year-round engagement across Tier I and fast-growing Tier II cities, with a focus on scalable, lower-capital formats. The company is leveraging organic growth and selective investments to reposition for sustainable margins and recurring revenue streams.
📰 What's Happening
In Q1FY27, revenue grew 19.9% YoY to ₹17,760 lakhs, driven by 22% YoY footfall growth to 11.54 lakh, supported by strong performance across parks. Management secured LOIs for two Hello Park locations in Hyderabad and Surat, targeting festive season openings. A ₹50 crore investment was made to acquire a 50.002% stake in Shanku's Water Park, Mehsana, with plans to expand offerings and earn 6-10% O&M fees. The company emphasized expansion into new geographies, diversified formats, and cross-selling opportunities to drive year-round engagement and higher customer spend.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 148 | 42 | 92 | 92 | 178 |
| Operating Profit | 47 | -35 | -1 | 6 | 65 |
| OPM % | 31.7% | -82.8% | -0.5% | 6.7% | 36.8% |
| Net Profit | 44 | -39 | -5 | 0 | 58 |
| EPS | ₹0.79 | ₹-0.69 | ₹-0.09 | ₹0.01 | ₹1.02 |
The company has reversed its historical profitability challenges, posting a sharp rebound in Q1FY26 PAT to ₹5,310.53 lakhs from ₹552.54 lakhs in the prior quarter, with revenue rising to ₹18,030.14 lakhs. This improvement aligns with operational momentum seen in Q1FY27, where operating margin expanded to 36.8% from negative levels just two quarters prior. The turnaround reflects successful cost management and revenue growth from new ventures, including the water park stake acquisition and indoor park rollout pipeline.
🔮 Management Outlook & What's Next
Management targets one new location annually in Tier I and fast-growing Tier II cities, with Hello Park rollouts scheduled before festive seasons to maximize revenue timing. Expansion will focus on scalable, asset-light indoor formats to reduce seasonality and improve customer retention through cross-selling between outdoor and indoor parks. The strategy underscores a shift toward recurring, year-round operations and higher customer spend per visit.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 566 | 542 | 566 | 566 |
| Reserves | 687 | 534 | 645 | 692 |
| Borrowings | 167 | 96 | 343 | 194 |
| Total Liabilities | 1,888 | 1,711 | 1,754 | 1,806 |
| Fixed Assets | 1,403 | 1,285 | 1,430 | 1,396 |
| Investments | 66 | 63 | 13 | 12 |
| Total Assets | 1,888 | 1,711 | 1,754 | 1,806 |
The balance sheet shows stable equity of ₹566 lakhs and reserves growing from ₹644 to ₹688 lakhs, indicating retained earnings are being reinvested rather than distributed. Borrowings remain low at ₹343 lakhs (down from ₹194 in prior period), suggesting minimal debt reliance. Total assets declined slightly to ₹1,754 lakhs, but this reflects asset reallocation rather than contraction, consistent with a focus on strategic investments over balance sheet expansion.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | +147 | +110 |
| Investing | -461 | -287 |
| Financing | +251 | +156 |
| Net Cash Flow | -63 | -21 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 74.0% | 74.0% | 74.0% | 74.0% |
| FII | 0.4% | 0.4% | 0.6% | 0.4% |
| DII | 2.4% | 2.1% | 2.0% | 1.9% |
| Public | 15.1% | 14.9% | 14.7% | 14.9% |
| # Shareholders | 84,605 | 82,049 | 81,213 | 79,993 |
Promoter holding remains stable at 74.02% over the last four quarters, indicating confidence in long-term prospects. FII and DII ownership have modestly increased to 0.59% and 1.88% respectively in Q1FY27 from 0.36% and 1.88% in Q4FY26, suggesting growing institutional interest. The rising number of public shareholders (79,993 to 84,605) reflects broadening retail participation, though promoter dominance remains high.
⚖️ Peer Comparison — Entertainment
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Heavy reliance on footfall-driven revenue in a niche, discretionary sector makes performance vulnerable to economic slowdowns or shifting consumer behavior. 2) Expansion into new formats like Hello Park and water parks carries execution and market adoption risks, especially in unproven Tier II markets. 3) Flat ARPU despite revenue growth suggests pricing pressure or limited monetization upside in current offerings. 4) Margins, while improving, remain sensitive to capital intensity and operational scalability in new ventures.
📋 Recent Filings
- 🔴 Corporate Action2026-09-29Imagicaaworld Entertainment announced full conversion of 2.35 million warrants into equity shares at ₹73.50 per share, raising ₹129.45 crore from the …
- Announcement2026-09-25Imagicaaworld Entertainment Ltd announced that its trading window closes on October 1, 2026, lasting 48 hours after the unaudited Q2 results release f…
- 🔴 Corporate Action2026-09-24Imagicaaworld Entertainment announced the allotment of 2.35 million fully paid equity shares at ₹73.50 each to promoters and non-promoter investors fo…
- 🔴 Announcement2026-09-23Imagicaaworld Entertainment Ltd announced its participation in two investor meetings scheduled for September 28 and 30, 2026, at Trident BKC in Mumbai…
- 🔴 Announcement2026-09-23Imagicaaworld Entertainment Ltd announced its participation in two investor meetings scheduled for September 28 and 30, 2026, at Trident BKC in Mumbai…
- 🔴 Financial Results2026-09-17Imagicaaworld Entertainment announced the proposed sale of its 287-room Novotel Imagicaa hotel in Khopoli to Juniper Hotels for ₹248 crore, subject to…
- 🟡 Board Meeting2026-09-16Imagicaaworld Entertainment approved in principle the sale of Hotel Novotel Imagicaa to Juniper Hotels for Rs. 2,48,00,00,000 (₹248 crores) on a slump…
- Announcement2026-09-15Imagicaaworld Entertainment disclosed on September 15, 2026 that it issued a corporate guarantee for a Rs. 85 crore term loan taken by its wholly owne…
- 🔴 annual report2026-09-04Imagicaaworld Entertainment reported consolidated revenue of **₹37,385 crores** and profit after tax of **₹63.64 crores** for FY26, with EBITDA at **₹…
- 🟡 Board Meeting2026-09-04Imagicaaworld Entertainment held its 17th Annual General Meeting on September 29, 2026, via video conferencing, with shareholders eligible to vote rem…
🧠 Analyst's Read
Imagicaaworld is undergoing a strategic pivot toward scalable, year-round entertainment formats, supported by measurable improvements in revenue and profitability. The next phase will be execution risk — whether Hello Park and water park expansions can deliver consistent, high-margin growth. Watch for management updates at the upcoming AGM and progress on new location rollouts.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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