Wonderla Holidays Ltd

- Revised CAPEX is Rs. 515 crores, up from an initial budget of Rs. 350 crores, including land cost (Page 15). - Rs. 194 crores already spent on the Chennai Park project, including committed orders (Page 15). - Bhubaneswar Park was completed in 13 months and is operational; Chennai Park expected to be commissioned by Q2/Q3 FY'26, with completion expected within 2 years (Pages 5, 6, 11). - Future projects under consideration include new parks in Gujarat, Punjab, Uttar Pradesh, and Madhya Pradesh with plans for at least five new locations by FY'30 (Page 7, 9). - Fundraising planned through a combination of debt and equity depending on project size, with an aim to remain EBITDA positive and manage debt efficiently (Page 16). - Maintenance CAPEX approximated at 10% of top line per park for replacement and new rides (Pages 12, 17). - Investment also directed to digital transformation and IT enhancements (Page 11).

- Existing mature parks (Bangalore, Kochi) expected to see low single-digit footfall growth (~5% for FY'25), with capacity constraints limiting volume expansion. - New parks (Bhubaneswar, Chennai, planned in Gujarat, Punjab, UP, MP) targeted for double-digit footfall growth, driving overall volume increase. - Bhubaneswar park expects around 4 lakh visitors in its first year, with ARPU of Rs. 800-1,000. - ARPU growth expected to be robust around 10-12% driven by F&B and retail segments in existing parks. - Revenue growth to come from a combination of modest footfall growth at mature parks and strong growth in newer parks. - Company will continue expanding in new locations to unlock latent demand and plans to launch about one new park each year. - Marketing, digital transformation, and enhanced guest experiences expected to increase repeat visitation and frequency, supporting long-term growth.

- FY'24 saw revenue increase by 11.8% YoY to Rs.506 crores; EBITDA grew 6.6% YoY to Rs.250.1 crores with a margin of ~49.4%, and PAT increased 6.1% YoY to Rs.157.9 crores with a margin of 31.2%. - Footfall expected to grow marginally (~5%) in existing parks due to capacity constraints; double-digit growth in footfalls anticipated from new parks like Bhubaneswar and Chennai. - ARPU growth estimated at 10-12% driven by non-ticket revenue (F&B, retail). - Bhubaneswar Park expected to breakeven on EBITDA in its first year; PAT positive by year 2-3. - Chennai Park CAPEX revised to Rs.515 crores, operational in FY'26, expected to contribute significantly to growth. - FY'25 EBITDA margin may compress by 3-4% due to Bhubaneswar park addition but operational margin expected to stabilize thereafter. - Long-term earnings growth driven by new parks and improving ARPU; EPS grew 6% FY'24 and highest ever Rs.28 registered.

- The revised CAPEX for the Chennai Park is Rs.515 crores, which includes land cost and an increased number of rides compared to the initial budget. - As of March 31, 2024, about Rs.194 crores has been spent or committed in orders for the Chennai project. - Odisha Park had a budget of around Rs.189-190 crores, with the project near completion. - No specific figure stated for total pending orders, but expenditures and commitments indicate ongoing project-related orders amounting to approximately Rs.194 crores for Chennai and completion budget for Odisha. - The company is close to signing a few deals for new projects after Chennai, but details remain undisclosed until finalized.

- Wonderla Holidays is planning to undertake some fundraising in the near future. - The fundraising may be through debt, equity, or most likely a combination of both. - The decision on the exact mix will depend on the number of projects signed in the next year or so. - Post the rollout of the Chennai park, cash flows from operations are expected to reduce the company’s net debt. - The company expects to maintain low debt levels since all assets will be EBITDA positive at any given time. - New large projects will require investment funding, which will be covered through the planned fundraising activities.