Imagicaaworld Entertainment Limited — Cyborg Score 5/10

Strategic Profile

The company is controlled by the Malpani Group (acquired in FY23), a diversified family-owned business with interests in FMCG, renewable energy, real estate, hospitality, theme and water parks, education, and other sectors. The company recently acquired four high-quality parks from the Malpani Group, and over the last eleven years has hosted over 13 million visitors.

Cyborg Score Rationale

The company achieved FY2025-26 revenue of ₹419.39 crore and profit of ₹77.17 crore, showing operational scale. However, profit declined significantly from ₹541 crore in FY2024 to ₹77.17 crore in FY2025, and net debt increased to ₹141 crore as of Sep-25 from ₹63.33 crore in Mar-25.

Top Insights

• The company is committed to setting up a new park every year to expand its national footprint
• Recently received letter of allotment from Sabarmati Riverfront Development Corp to set up an entertainment hub with investment worth ₹1.3 billion
• Stock has declined 22.7% over past six months and 21.52% over the last year
• Market cap of ₹2,974.17 crore with promoters holding 74% stake

Named Competitors

• Essel World — Theme park operator in Mumbai region
• Della Adventure Park — Multi-activity adventure park in Maharashtra
• Phoenix Market City — Entertainment and retail destination

Recent Developments

• (February 2026) Share price at ₹46.93 with 19.54% decline over past six months
• (September 2025) Approved acquisition of Malpani Parks Ahmedabad for ₹75 crore for water park development
• (2024) Acquired four high-quality parks including Wet N Joy brand and Saiteerth religious theme park

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