Imagicaaworld Entertainment Stocks Advanced 250% In a Year

Imagicaaworld Entertainment Limited has, according to the Debt Restructuring and Settlement Agreement (DRSA) between the company executed in June 2022, Malpani Parks Private Limited and Aditya Birla ARC Ltd, received confirmation for write-off for the unsustainable debt aggregating to Rs 571.76 crore. The write-off is a part of the debt resolution plan which the company entered with the Malpani Group and the erstwhile lenders in June 2022.

Jai Malpani, Managing Director of the company said “As the residual leg of the resolution plan, we have now written back the remaining debt of Rs 571.76 crore which will reflect in our balance sheet and show the true picture as of date. Thus with zero legacy debt and improved net worth of the company, we are geared for the next level of growth. We will continue to focus on providing a magical and immersive experience that exceeds expectations to all our guests. We aim to solidify our position as a leader in the entertainment park industry, known for pushing the boundaries of entertainment and delivering unforgettable memories to millions of visitors.”

On Thursday, shares of Imagicaaworld Entertainment Limited zoomed 5.53% to Rs 49.93 per share with an intraday high of Rs 53.01 and an intraday low of Rs 48.65. The stock has a 52-week high of Rs 56.25 and a 52-week low of Rs 12.55.

According to the finances, the company has a market cap of over Rs 2,000 crore. The shares of the company have a PE multiple of 6.39 and an ROE of 243%. The shares of the company also saw a spurt in volume by more than 8 times on BSE. The company reported a net profit of Rs 251 crore in FY23, up 248% compared to FY22. The net profit skyrocketed to Rs 357 crore in FY23 compared to a net loss of Rs 244 crore in FY22.

The stock is up by 20% in 10 days, has gained 40% in 6 months and has risen over 250% in just a year. Imagicaaworld Entertainment Limited company’s stock should be kept on the radar.