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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
 
 
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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.


Outlook


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


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first published: Feb 9, 2021 10:47 pm

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