Imagicaaworld Entertainment financials and balance sheet

NSE: IMAGICAABSE: 539056Leisure ServicesSmall Cap

Formerly Adlabs Entertainment

₹40.05₹2.27 (5.36%)BSE ₹40.10

Share price at the NSE close on 23 Oct 2026. Previous close ₹42.32.

52-week range of traded prices to 23 Oct 2026

₹36.84Low, 27 Mar 2026₹62.00High, 28 Aug 2026

Market cap: ₹2,360 Cr1,046th largest listed
P/E: 169.8
P/E without one-offs: 192.5
P/B: 1.9
Dividend yield: Nonein the last 12 months
ROE: 1.1%
ROE without one-offs: 1.0%
ROCE: 2.3%
Debt to equity: 0.27
Volume, NSE: 9,92,47655.6% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Imagicaaworld Entertainment annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹410 Cr, year to Mar 2025A loss in 6 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue374
Materials and goods−39
Employee costs−52
Other expenses−166
Operating profit116
Depreciation−98
Other income+10
One-off items+0.2
Finance costs−20
Profit before tax8.6
Tax−7.9
Net profit0.6

What the company owns

Plant, investments and other assets₹1,701 Cr
Cash and bank₹27 Cr
Inventory₹20 Cr
Receivables₹6 Cr

What pays for it: net worth and liabilities

Net worth₹1,254 Cr
Borrowings₹343 Cr
Other liabilities₹132 Cr
Owed to suppliers₹26 Cr

Imagicaaworld Entertainment business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Imagicaaworld Entertainment segment results by quarter

Revenue by segment

₹374 CrTotal

Parks Division₹317 Cr84.7% of total
Hotel Division₹57 Cr15.3% of total

Profit by segment

Parks Division₹6.4 Cr35.6% of total
Hotel Division₹11.6 Cr64.4% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Parks Division
Revenue, ₹ crore
349
317
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
70
6
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Hotel Division
Revenue, ₹ crore
61
57
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
16
12
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	240	200	22	72	251	260	410	374
Company revenue, as in its results	240	200	22	72	251	260	410	374
Revenue	–	–	–	–	–	–	349	317
Revenue growth	–	–	–	–	–	–	–	−9.2%
Profit	–	–	–	–	–	–	70	6
Profit growth	–	–	–	–	–	–	–	−90.9%
Margin	–	–	–	–	–	–	20.1%	2.0%
Return on capital	–	–	–	–	–	–	7.3%	0.7%
Assets	–	–	–	–	–	–	1,782	1,459
Liabilities	–	–	–	–	–	–	821	485
Capital employed	–	–	–	–	–	–	961	974
Revenue	–	–	–	–	–	–	61	57
Revenue growth	–	–	–	–	–	–	–	−7.2%
Profit	–	–	–	–	–	–	16	12
Profit growth	–	–	–	–	–	–	–	−28.2%
Margin	–	–	–	–	–	–	26.3%	20.3%
Return on capital	–	–	–	–	–	–	16.2%	11.8%
Assets	–	–	–	–	–	–	115	113
Liabilities	–	–	–	–	–	–	15	14
Capital employed	–	–	–	–	–	–	100	98
Revenue	114	94	7	35	134	132	–	–
Revenue growth	–	−18.2%	−92.9%	419.9%	287.9%	−1.6%	–	–
Profit	−76	−220	−93	−70	118	−25	–	–
Margin	−66.2%	−235.3%	−1,403.1%	−204.1%	88.3%	−19.2%	–	–
Return on capital	−9.9%	−39.4%	−19.0%	−16.7%	21.9%	−5.3%	–	–
Assets	785	574	504	439	558	500	–	–
Liabilities	21	14	14	17	17	21	–	–
Capital employed	764	559	490	422	540	479	–	–
Revenue	64	52	6	16	60	62	–	–
Revenue growth	–	−17.8%	−89.0%	185.7%	267.0%	3.0%	–	–
Profit	31	21	−5	−6	17	22	–	–
Profit growth	–	−32.7%	–	–	–	29.4%	–	–
Margin	48.9%	40.1%	−89.4%	−34.9%	28.7%	36.0%	–	–
Return on capital	66.7%	47.1%	−8.4%	−11.3%	43.3%	63.6%	–	–
Assets	48	46	63	52	41	35	–	–
Liabilities	2	2	2	1	2	0	–	–
Capital employed	47	44	61	51	40	35	–	–
Revenue	23	25	8	15	32	34	–	–
Revenue growth	–	9.1%	−69.6%	94.7%	118.1%	6.2%	–	–
Profit	−14	−19	−26	−11	−3	−3	–	–
Margin	−63.9%	−77.8%	−339.8%	−73.8%	−7.9%	−8.3%	–	–
Return on capital	−8.5%	−13.3%	−26.1%	−12.4%	−3.2%	−3.8%	–	–
Assets	174	150	105	94	84	76	–	–
Liabilities	5	6	8	7	6	3	–	–
Capital employed	170	144	98	87	79	73	–	–
Revenue	22	16	1	4	12	18	–	–
Revenue growth	–	−25.3%	−91.9%	175.5%	–	51.3%	–	–
Profit	16	12	1	3	10	16	–	–
Profit growth	–	−29.0%	−91.1%	212.7%	–	56.2%	–	–
Margin	76.2%	72.4%	80.1%	90.9%	87.1%	90.0%	–	–
Return on capital	–	962.4%	124.4%	–	–	12,798.5%	–	–
Assets	1	1	1	0	0	0	–	–
Liabilities	2	0	0	1	1	0	–	–
Capital employed	0	1	1	0	0	0	–	–
Revenue	18	13	1	3	13	14	–	–
Revenue growth	–	−26.3%	−94.3%	281.3%	332.0%	12.9%	–	–
Profit	4	1	−2	−1	3	4	–	–
Profit growth	–	−70.1%	–	–	–	62.3%	–	–
Margin	20.4%	8.3%	−284.0%	−38.3%	20.4%	29.4%	–	–
Return on capital	20.5%	5.8%	−11.8%	−6.5%	13.9%	23.3%	–	–
Assets	20	21	20	19	20	18	–	–
Liabilities	2	2	2	1	1	0	–	–
Capital employed	18	19	18	17	18	18	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Imagicaaworld Entertainment quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 17 May	Mar 2020Filed 31 Jul	Mar 2021Filed 25 Jun	Mar 2022Filed 3 Jun	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 30 Oct	Mar 2026Filed 15 May
Revenue from operations	239	236	240	200	22	72	251	260	410	374
	178	174	193	204	57	40	166	164	235	258
Materials and goods bought	24	26	24	22	3	−24	28	29	41	39
Employee costs	56	49	54	52	28	25	45	50	46	52
Other expenses	98	99	115	130	26	39	93	85	148	166
Operating profit before depreciation	61	62	47	−4	−35	32	85	96	175	116
Operating margin	25.4%	26.4%	19.5%	−1.9%	−158.8%	44.9%	33.9%	37.0%	42.8%	31.0%
Materials, % of revenue	10.1%	11.0%	10.2%	10.9%	12.8%	−33.6%	11.1%	11.0%	10.0%	10.5%
Employee costs, % of revenue	23.5%	20.6%	22.5%	26.2%	127.7%	34.2%	18.0%	19.4%	11.3%	14.0%
Other expenses, % of revenue	41.1%	41.9%	47.8%	64.8%	118.3%	54.6%	37.0%	32.6%	36.0%	44.5%
Depreciation and amortisation	95	93	102	243	96	91	−51	79	89	98
Operating profit after depreciation	−34	−30	−55	−246	−130	−59	136	17	86	18
Other income	1	1	6	1	25	3	83	18	9	10
Finance costs	121	128	134	152	163	188	53	2	11	20
Profit before one-off items and tax	−154	−156	−182	−397	−269	−244	166	34	85	8
One-off items	0	0	0	0	0	0	−5	509	−2	0
Profit before tax	−154	−156	−182	−397	−269	−244	161	543	83	9
	−36	0	165	0	0	0	−196	2	6	8
Deferred tax	–	–	165	0	0	0	−196	2	6	8
Net profit	−118	−156	−348	−397	−269	−244	357	541	77	1
Other comprehensive income	–	–	0	0	1	0	0	0	0	1
Total comprehensive income	–	–	−348	−398	−268	−244	357	541	77	1
Net margin	−49.5%	−66.1%	−144.7%	−198.7%	−1,223.4%	−338.8%	142.5%	208.0%	18.8%	0.2%

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 17 May	Mar 2020Filed 31 Jul	Mar 2021Filed 25 Jun	Mar 2022Filed 3 Jun	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 30 Oct	Mar 2026Filed 15 May
	47	−351	−618	−861	235	794	1,253	1,254
Share capital	88	88	88	88	412	482	566	566
Reserves	−42	−439	−706	−949	−176	313	687	688
	1,073	1,076	1,078	1,078	806	252	167	343
Repayable after a year	0	0	0	0	213	0	105	282
Repayable within a year	1,073	1,076	1,078	1,078	592	252	62	61
	1,254	1,378	1,552	1,733	658	303	321	209
Trade payables	27	22	32	25	23	24	41	26
Other financial liabilities	124	272	434	617	6	6	205	108
Other liabilities	29	7	8	13	37	21	12	14
Provisions	1	0	0	0	0	0	0	0
	1	1	1	1	213	0	314	291
Other financial liabilities	–	0	0	0	0	0	200	–
Other liabilities	–	0	0	0	0	0	9	9
Provisions	1	1	1	1	0	0	0	1
	1,302	1,029	935	873	1,107	1,098	1,888	1,754
Held for sale or for a demerger	–	–	–	–	–	11	–	–
	1,154	919	824	734	1,002	941	1,692	1,647
Plant in use, after depreciation	1,127	901	811	724	785	676	1,403	1,383
Plant being built	3	0	0	0	11	54	32	4
Intangible assets	19	15	9	7	3	1	5	4
Goodwill	0	0	1	0	0	0	41	41
Intangible assets being developed	1	0	0	–	0	0	–	2
Investments	0	0	0	0	6	10	11	13
Other financial assets	0	0	0	0	0	0	3	13
Deferred tax	–	0	0	–	196	194	188	180
Other assets	4	3	2	2	1	5	10	7
	148	110	110	139	105	146	196	107
Inventories	116	84	82	114	15	16	20	20
Trade receivables	9	5	2	3	5	4	10	6
Cash and cash equivalents	2	2	3	5	61	100	38	16
Other bank balances	0	1	1	1	4	6	15	11
Current investments	0	0	0	0	0	0	54	0
Loans given	0	0	0	0	0	0	0	0
Other financial assets	4	4	9	4	6	7	28	23
Tax paid in advance	4	2	1	0	1	2	4	5
Other assets	12	12	12	11	13	11	27	26
Net debt	1,070	1,073	1,074	1,071	741	146	60	315

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 25 Jun	Mar 2022Filed 3 Jun	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 30 Oct	Mar 2026Filed 15 May
	4	4	117	106	147	110
	4	4	109	107	150	91
	12	−1	12	1	−27	−7
Receivables	3	−1	−1	0	−6	3
Inventories	1	0	20	−1	−4	0
Payables	10	−7	−2	1	10	−16
Other working capital	−2	8	−4	0	−28	5
Tax paid	1	1	1	−1	−2	−1
Interest paid	0	0	0	0	0	20
Capital spending	0	0	18	64	291	48
Free cash flow	4	4	99	43	−144	62
	−2	0	−9	−64	−461	−287
Companies bought	0	0	0	0	−55	−300
Interest received	0	0	0	1	1	1
	−2	−1	−53	−2	251	156
Borrowings raised	0	0	20	0	0	176
Borrowings repaid	0	0	−471	−1	−173	0
Interest paid	−2	−2	−19	−2	−11	−20
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	418	0	436	0
Net change in cash	1	3	55	39	−63	−21

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 17 May	Mar 2020Filed 31 Jul	Mar 2021Filed 25 Jun	Mar 2022Filed 3 Jun	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 30 Oct	Mar 2026Filed 15 May
Earnings per share	−₹14.80	−₹18.85	−₹39.49	−₹45.13	−₹30.51	−₹27.71	₹10.55	₹11.48	₹1.43	₹0.01
Diluted earnings per share	−₹14.80	−₹18.85	−₹39.49	−₹45.13	−₹30.51	−₹27.71	₹9.80	₹10.75	₹1.43	₹0.01
Book value per share	–	–	₹5.28	−₹39.89	−₹70.20	−₹97.78	₹5.71	₹16.49	₹22.14	₹22.16
Shareholder yield	–	–	–	–	0.0%	−0.3%	−22.2%	0.0%	−12.2%	0.0%
Market cap at the year end (₹ crore)	627	410	70	22	55	116	1,883	3,723	3,585	2,120

Ratios

Consolidated, years to March.Imagicaaworld Entertainment PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 17 May	Mar 2020Filed 31 Jul	Mar 2021Filed 25 Jun	Mar 2022Filed 3 Jun	Mar 2023Filed 26 May	Mar 2024Filed 11 Jun	Mar 2025Filed 30 Oct	Mar 2026Filed 15 May
Revenue growth	−5.3%	−1.1%	1.7%	−16.8%	−89.0%	228.1%	247.8%	3.8%	57.8%	−8.9%
Operating profit growth	52.6%	2.9%	−24.9%	–	–	–	163.0%	13.4%	82.2%	−33.9%
Net profit growth	–	–	–	–	–	–	–	51.5%	−85.7%	−99.2%
Earnings per share growth	–	–	–	–	–	–	–	8.8%	−87.5%	−99.3%
	–	–	−747.8%	260.8%	55.4%	33.0%	−114.1%	105.1%	7.5%	0.1%
	–	–	–	1,008.7 pts	−205.4 pts	−22.4 pts	−147.1 pts	219.2 pts	−97.5 pts	−7.5 pts
From the net margin	–	–	–	−279.0 pts	1,345.5 pts	−40.1 pts	−46.9 pts	−52.4 pts	−95.6 pts	−7.5 pts
From asset turnover	–	–	–	71.9 pts	−1,397.0 pts	39.3 pts	−30.2 pts	11.3 pts	1.6 pts	0.0 pts
From borrowing	–	–	–	1,215.7 pts	−153.9 pts	−21.7 pts	−70.0 pts	260.3 pts	−3.5 pts	0.0 pts
Return on capital employed	–	–	−4.9%	−34.0%	−28.4%	−27.3%	13.0%	1.6%	6.1%	1.1%
Cash conversion	–	–	–	–	–	–	32.8%	19.6%	190.8%	17,271.8%
Interest cover	–	–	–	–	–	–	2.6	10.9	8.1	0.9
Debt to equity	–	–	23.06	–	–	–	3.43	0.32	0.13	0.27
Receivable days	–	–	14	9	33	17	7	6	9	6
Inventory days	–	–	1,739	1,401	10,683	−1,718	196	204	178	183
Payable days	–	–	409	376	4,197	−382	300	304	367	242
Cash conversion cycle, days	–	–	1,343	1,034	6,519	−1,319	−98	−94	−181	−53
Working capital days	–	–	−55	−356	−6,116	−2,649	−38	−15	−151	−67
Asset turnover	–	–	0.18	0.17	0.02	0.08	0.25	0.24	0.27	0.21
Assets per rupee of net worth	–	–	28.00	−7.65	−2.03	−1.22	−3.16	2.14	1.46	1.45
Sales per rupee of plant	–	–	0.21	0.22	0.03	0.10	0.32	0.38	0.29	0.27
Capital spending to depreciation	–	–	–	–	0.00	0.00	−0.36	0.80	3.27	0.49
Plant being built, % of plant in use	–	–	0.3%	0.0%	0.0%	0.0%	1.4%	8.0%	2.2%	0.3%

Interest cover is left blank for the years to Mar 2017, Mar 2018, Mar 2019, Mar 2020, Mar 2021 and Mar 2022: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2020, Mar 2021 and Mar 2022: net worth is below zero, so there is no shareholders' money to set the borrowings against. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 0.0%
Cash from operations against operating profit: 94.8%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	4.0%	76.3%	14.3%
Profit growth, yearly rate	–	–	−87.9%
Return on equity, average	–	6.3%	37.6%
Return on capital employed, average	–	−1.1%	2.9%
Operating margin, average	10.0%	37.9%	37.0%
Net margin, average	−165.2%	6.2%	75.7%
Asset turnover, average	–	0.21	0.24
Cash conversion cycle, days, average	–	−349	−109
Interest cover, average	–	5.6	6.6
Debt to equity, average	–	1.04	0.24

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	485	363	110
Cash from investing	−822	−813	−287
Cash from financing	350	404	156
Capital spending	421	403	48
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	855	437	0
Borrowings raised	–	–	176
Borrowings repaid	645	174	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	4	6	5	6	6	3
Altman Z-scorePublished threshold 1.1	−5.89	−11.36	−13.77	−16.48	−2.22	6.07	3.16	3.64
Beneish M-scorePublished threshold −1.78	–	–	−2.38	−2.44	6.95	−0.59	−1.60	−3.24
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	−27.61	−27.46	25.14	45.29	26.21	9.76
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	0.35	0.38	0.59
Receivables growth less revenue growthOur threshold 0 percentage points	–	−31.79	30.54	−161.23	−210.78	−13.75	75.95	−25.54
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	−17.34	85.39	999.74	−301.61	4.48	−18.26	2.55
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	−0.83	18.18	−9.55	1.88	−0.07	9.63	−1.42
Assets under construction, years of additionsOur threshold 2 years of additions	–	0.00	0.01	0.00	1.12	–	0.04	0.05
Effective tax ratePublished threshold 17.16 per cent	–	–	–	–	−121.73	0.40	7.20	92.56
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	−122.13	0.25	4.49	78.36

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
14 May 2026	India Ratings and Research Private Limited (opens in a new tab)	Bank loan facilities	IND A; IND A1Review, Re-affirm	Stable	375

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.