This small-cap amusement park stock has soared 5% on 30 June; here’s why!
Company signs lease agreement with Government of Odisha.
Wonderla Holidays Ltd., a small-cap amusement park and resort company, has been trending on Dalal Street as the stock has rallied by over 5% from its previous close of Rs 227.25. The scrip opened at Rs 230.90 and made a day’s high of Rs 242.05 (+6.5%). As of 10:45 am, the stock is trading near Rs 238.60.
The stock's huge upside was witnessed because the company signed a land lease agreement with the Government of Odisha. According to the company’s regulatory filing, “the Company has signed an agreement with the Government of Odisha on even date for leasing land about 50 acres towards the development of amusement park project in Kumarbasta Village, Khorda District, Bhubaneswar, Odisha.”
Talking about its latest quarterly results, in Q4FY22, revenue grew by 73.23% YoY to Rs 57.69 crore from Rs 33.3 crore in Q4FY21. On a sequential basis, the top-line was up by 19.41%. PBIDT excluding other income was reported at Rs 19.59 crore, up by 668.5% as compared to the year-ago period. The corresponding margin was reported at 33.96%, expanding by 2630 basis points YoY. PAT was reported at Rs 8.51 crore, up by 274.72% from Rs -4.87 crore in the same quarter of the previous fiscal year. The PAT margin stood at 14.75% in Q4FY22 expanding from -14.62% in Q4FY21.
Wonderla Holidays Limited operates the three largest amusement parks in Kochi, Bangalore and Hyderabad; and the Wonderla resort in Bangalore under the brand name Wonderla. Wonderla Kochi is the first park in India to get an ISO14001 certificate for eco-friendliness and OHSAS 18001 certificate for safety.
The scrip has a 52-week high and low of Rs 269.90 and Rs 196.20, respectively.
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