Buy Wonderla Holidays; target of Rs 227: Sharekhan
Sharekhan is bullish on Wonderla Holidays has recommended buy rating on the stock with a target price of Rs 227 in its research report dated February 03, 2021.
February 09, 2021 / 10:47 PM IST
Sharekhan's research report on Wonderla Holidays
Wonderla Holidays (WHL) posted revenues of Rs. 5 crore in Q3FY2021 for minimal days of operations in Bangalore (from November 9) and Kochi Park (from December 20) with permitted capacity of 50% only on weekends. Initial response was good with average visitors to the Bangalore Park standing at 1500 per day and 1,227 for the Kochi Park (some days saw 4,000-5000 visitors). With higher pent-up demand, the company expects footfalls to improve hugely in FY2022, reaching close to FY2020 levels by FY2023.
With a strong balance sheet and cash of ~Rs. 90 crore as of December, WHL is well-placed to exploit opportunities in the entertainment industry. We maintain a Hold with a revised PT of Rs. 227.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.