Wonderla Holidays Share Price Rises on Strong Q2 Results, Increased Target Price

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Shares of Wonderla Holidays, an amusement park company, rose by 0.71% to reach Rs 633.40 on the Bombay Stock Exchange (BSE) on September 15, 2023. The stock saw a surge in trading volumes, with 3 lakh shares being exchanged.

The company’s share price has been on an upward trend in recent months, giving a return of 49.79% in the last 6 months and 80.30% year-to-date.

The latest price movement comes after the company reported its highest-ever quarterly revenue, EBITDA and net profit in the June quarter. Revenue increased by 24% year-on-year to Rs 184.6 crore, while EBITDA went up by 30% to Rs 122.5 crore. Net profit increased by 31% to Rs 84.47 crore.

The company attributed the strong performance to higher footfalls and increased ticket prices. It also said that it is focusing on increasing retail footfalls and non-ticketing revenues.

Share Khan, a brokerage firm, has maintained its “buy” rating for the stock and increased its target price to Rs 750. The broker raised its earnings estimate for FY2024 and 25 by 5-6% due to higher-than-expected ARPUs and EBITDA margins.

The company is also expanding its operations. It has started construction of a new park in Odisha and is expected to start construction of a park in Chennai soon.

The strong performance of Wonderla Holidays’ shares is a positive sign for the amusement park industry. The company is well-positioned to benefit from the growing demand for amusement parks in India.

Here are some additional points that I would like to add to the article:

  • The company’s strong performance is also being driven by the reopening of the economy and the increasing disposable income of Indians.
  • The company is also benefiting from the government’s focus on tourism.
  • The company is expected to continue to grow in the coming years, driven by the factors mentioned above.

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