Wonderla Holidays (WONDERLA) Q4 19/20 earnings summary

Executive summary

• FY20 revenue from operations declined 4% to ₹27,087 lakh; PAT rose 17% to ₹6,478 lakh, supported by ₹1,892 lakh of exceptional tax-provision reversals.

• Footfall fell to 23.81 lakh from 25.23 lakh amid economic weakness, heavy monsoon rains and COVID-19 closures from mid-March 2020.

• The parks remained closed after lockdown; cost controls and ₹12,383 lakh in cash, bank balances and mutual funds supported liquidity through the shutdown.

Financial highlights

• Revenue from operations was ₹27,087 lakh vs ₹28,204 lakh; total income was ₹28,288 lakh vs ₹29,166 lakh.

• Operating EBITDA was ₹11,611 lakh, down 6% YoY; EBITDA margin was 41% of net sales vs 43%.

• PBT rose 10% to ₹9,259 lakh; PAT increased 17% to ₹6,478 lakh, including ₹1,892 lakh of exceptional income.

• Basic EPS was ₹11.46 vs ₹9.81; diluted EPS was ₹11.45 vs ₹9.80.

• Net cash from operating activities was ₹7,272 lakh; investing cash outflow was ₹4,363 lakh and financing cash outflow was ₹2,811 lakh.

Outlook and guidance

• Reopening timing remained dependent on government clearance; management expected domestic recreation demand to recover after normalcy and planned capacity limits and enhanced hygiene measures.

• Cash break-even was estimated at daily footfall of 1,300 per park; reopening capacity could be capped at 3,000–3,500 visitors per park per day, with ₹50 extra cost per visitor for sanitation and protocols.

• Cost actions included renegotiating maintenance contracts, digital promotion and alternative revenue streams; management also planned tighter operating-cost control.

• Chennai construction was paused during lockdown; plans called for restart around October 2020 and completion around April 2022, subject to project conditions and clearances.