ICICI Direct's research report on Wonderla Holidays
Wonderla Holidays is engaged in the business of amusement parks and resorts. It has three operational parks, one each in Kochi, Bengaluru and Hyderabad that were established in 2000, 2005 and 2016, respectively. The Bengaluru park also has a resort with four banquet halls and 84 rooms. The park business is seasonal in nature with higher footfalls in June and December quarters corresponding to summer break and festive season, respectively • The company is in discussions with the Odisha government to set up a park in Bhubaneswar on an asset-light model, where land will be taken on lease and the total cost for setting up the park will be ~Rs 100 crore.
Outlook
We remain positive on the company and maintain our BUY rating. We value the company at Rs 430 i.e.21x FY24E P/E).
More Info
At 13:59 hrs Wonderla Holidays was quoting at Rs 375.15, up Rs 13.35, or 3.69 percent.
It has touched an intraday high of Rs 380.00 and an intraday low of Rs 359.80.
It was trading with volumes of 30,083 shares, compared to its thirty day average of 38,060 shares, a decrease of -20.96 percent.
In the previous trading session, the share closed down 2.76 percent or Rs 10.25 at Rs 361.80.
The share touched its 52-week high Rs 389.90 and 52-week low Rs 196.20 on 29 August, 2022 and 20 December, 2021, respectively.
Currently, it is trading 3.78 percent below its 52-week high and 91.21 percent above its 52-week low.
Market capitalisation stands at Rs 2,121.82 crore.
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