Wonderla flagged buy-on-dips after 55% drawdown as Chennai park ramps and non-ticket mix shifts
India's largest listed amusement park operator posted FY26 revenue of ₹519 cr with EBITDA margin compressed to 31.7%. Chennai park delivered 1.91 lakh Q4 footfalls at 30% EBITDA margin. ARPU at ₹1,530, cash pile ₹424 cr against ₹6 cr debt. Targeting ticket:non-ticket mix shift from 70:30 to 60:40 as next growth lever.
Wonderla Holidays, India's largest listed amusement park operator with 5 parks, rated accumulate-on-dips. FY26 revenue ₹519 cr, margins compressed to 31.7%. Chennai park launch and non-ticket revenue mix shift to 60:40 are key growth levers.
Why this matters
Follows Wonderla's push into hotels with 150-room builds in Chennai and Hyderabad after a strong Q4, signaling diversification beyond ticketing even as summer plays broadly disappoint.
Retail-company signals steady at 3,932 over the past 90 days.