Jungle Camps

Q4 FY26 Earnings Call Analysis

Leisure Services

Full Stock Analysis
fundraise: Yescapex: Yesrevenue: Category 2margin: Category 1orderbook: No information
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fundraise

Any current/future new fundraising through debt or equity?

- The company raised ₹29.5 crores through its recent IPO. - Out of the IPO proceeds, ₹11.5 crores will be invested in the Mathura Hotel, Sanjay Dubri Camp, and renovation of the oldest Pench property (₹2.5 crore allocated for renovation). - For properties like Sheopur Fort and another one, the company plans to use debt financing. - There is mention of exploring new properties potentially through leases or joint ventures, possibly supported by improved visibility post-IPO. - No explicit mention of any immediate or planned fresh equity fundraising beyond the recent IPO.
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capex

Any current/future capex/capital investment/strategic investment?

- Investing ₹11.5 crores from IPO proceeds in a hotel property in Mathura due to lack of good accommodation there. - IPO raised ₹29.5 crores; funds allocated to Mathura Hotel, Sanjay Dubri Camp, and renovation of the oldest Pench property (₹2.5 crore). - Other planned properties like Sheopur Fort and Melghat Tiger Reserve will be funded through debt financing. - Construction costs per room including common facilities (dining, pool, spa) range from ₹3.5 crore to ₹4.5 crore, with land cost included. - Developing new properties with about 30 rooms each in Sanjay Dubri, Mathura, Sheopur Fort, and Melghat Tiger Reserve, expected to take about 2 years each. - Exploring leasing opportunities for additional ready properties to drive growth before new properties become operational. - Sheopur Fort being developed on a 90-year government lease, aiming for 50 rooms with premium category pricing (₹18,000-25,000 per night).
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revenue

Future growth expectations in sales/revenue/volumes?

- Growth expected to start at 25% in the first year, potentially rising to 30-35% in the following year (Page 21). - Expansion plans include increasing rooms from current 87 to about 170-180 within two years through new properties and leases (Pages 19-20). - Average occupancy projected to be 35-40% initially, growing to 50%+ after two years as business stabilizes (Page 20). - Continuous exploration of new property opportunities, especially in the 55 Tiger Reserves in India to drive future growth (Page 21). - IPO proceeds and debt financing being utilized for property development to support expansion and revenue growth (Page 18). - Growth partly reliant on acquiring or leasing ready properties to bridge the gap before new builds complete (Pages 19-20).
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margin

Future growth expectations in earnings/operating earnings/profits/EPS?

- Growth expected to start at around 25% in the first year. - Projected increase to 30-35% in the following year. - Growth driven by expansion in inventory: from current 87 rooms to 170-180 rooms over next 2 years. - New properties under development include 30-room facilities at Sanjay Dubri, Mathura, Sheopur Fort, Melghat Tiger Reserve. - Occupancy expected to grow from initial 35-40% to 50%+ after 2 years once business stabilizes. - Additional growth opportunities through leasing/joint ventures of ready properties. - IPO proceeds (₹29.5 Cr) being used for property development and renovation; debt financing planned for Sheopur and other projects. - Overall, the management is optimistic about significant growth fuelled by multiple new properties and increased visibility post-IPO.
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orderbook

Current/ Expected Orderbook/ Pending Orders?

- Currently, Jungle Camps India has about 87 rooms across their properties. - They have 90 rooms combined from Mathura and Sanjay Dubri. - An additional 50 rooms will come from the Sheopur Fort property. - Plans are underway to add 30 more rooms at Sanjay Dubri and other locations like Melghat Tiger Reserve. - Overall, the company expects around 170-180 rooms to be added as per existing plans. - New properties under construction will take approximately 2 years to complete (ready by FY 2026). - Meanwhile, the company is actively exploring and seeking lease or joint venture agreements for ready properties to drive growth before the completion of these projects. - Fund raising includes ₹29.5 crores from IPO proceeds and additional projects funded through debt. This reflects a robust order book with multiple projects in progress and pipeline properties being actively pursued.