Wonderla Holidays Limited

Wonderla Holidays Limited achieved its highest-ever Q3 revenue, growing 11% YoY to ₹134.5 crores, driven by 9.17 lakh footfalls and an over 8% increase in ARPU to ₹1,377 for the year. Despite this top-line growth, EBITDA for the quarter declined 13% YoY to ₹32.17 crores, with margins at 23%. Profit After Tax (PAT) also saw a significant decline of 29% YoY to ₹14.5 crores, primarily due to new labor code regulatory changes and increased depreciation from new projects.

The company successfully launched its largest amusement park in Chennai within 21 months, with a total investment of ₹611 crores. The Chennai Park reported a positive EBITDA contribution of ₹1.3 crores in Q3 FY26, despite absorbing one-time^📎 launch expenses of ₹5.5 crores. In December, the park generated approximately ₹11-12 crores in revenue with an 11% EBITDA margin. Management expects the Chennai Park to reach the potential of larger parks like Bangalore within 3-4 years, with EBITDA margins stabilizing at 40-45% over the next 4-5 months or the first year of operations.

For the nine months ended December 2025, revenue from operations grew 6% YoY to ₹382.9 crores. However, EBITDA for the period declined 9% to ₹116.3 crores, with EBITDA margins at 28%. PAT for 9M FY26 fell 34% YoY to ₹65.3 crores. Total footfall for the nine months marginally declined by 1% to 23.4 lakh. The decline in profitability was significantly impacted by a one-time^📎 financial impact of ₹8 crores recognized due to the adoption of new wage code provisions.

The Resort Property demonstrated strong growth, with revenues increasing 71% YoY and achieving an occupancy rate of 68%. The Bangalore Park celebrated 20 years of operations and is set to launch a new roller coaster ride by March end or early April, with an estimated investment of ₹15-20 crores. Cochin Park's performance was temporarily affected by a waterborne amoeba outbreak in Kerala, which led to government mandates against school trips to water parks, impacting footfalls.

Wonderla aims to be a pan-India amusement park player and is actively evaluating new locations for expansion, with plans to sign for 'minimum one, maybe two or three' new parks, including potential interest in Goa. While specific timelines are subject to government approvals and land acquisition, the company's long-term growth strategy focuses on disciplined expansion, enhancing ARPU, improving monetization through technology, and delivering consistent guest experiences. Management believes 2-3% footfall growth is possible for existing parks.