Imagicaaworld Shares Soar 27% in 2 Days After Launch of Aquamagicaa in Surat

Imagicaaworld launches water park in Surat.

Shares of Imagicaaworld Entertainment hit a 52-week high of Rs 48.43, up 17% on the BSE in heavy intraday trade on Friday. The stock surpassed the previous high of Rs 46.90 on September 1, 2022.

The stock jumped 27% in the past two days after the company that operates the Imagicaa theme park, water park, snow park, and family hotel Novotel Imagicaa Khopoli announced the launch of its water park Aquamagicaa in the city of Surat, Gujarat.

Imagicaa was quoted 16.7% higher at Rs 48.11 on the BSE at 2:55 pm, compared with a 1.7% gain on the S&P BSE Sensex. A total of 10.12 million shares changed hands on the NSE and BSE, representing 2.5% of the company’s total share capital.

Aquamagicaa – Surat is open to tourists from March 1, 2023. The 4-acre park is in the heart of Surat and includes 16 water rides/attractions imported from international manufacturers. The company said it intends to extend the high-quality service experience enjoyed by more than 11 million guests at its flagship Khopoli project.

Meanwhile, in the October-December (Q3FY23) quarter, the company reported its best-ever Q3 quarterly EBITDA of Rs 32.4 crore compared to Rs 10.2 crore in Q3FY20. EBITDA margin improved from 2,460 basis points to 43.2% in Q3FY20.

The company reported a profit before tax (PBT) of Rs 7.05 crore for the first time in Q3FY23. Total revenue rose 37% to Rs 75.1 crore from Rs 54.9 crore in Q3FY20.

The company said that the business continues to show an excellent rebound after two years of adverse COVID-19 impacts and an overall improvement in its operations.

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