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Tag: Kapil Bagla

  • Adlabs’ CEO Bagla quits, Bakshi & Kale will be joint CEOs

    Adlabs’ CEO Bagla quits, Bakshi & Kale will be joint CEOs

    MUMBAI: Adlabs Entertainment’s Kapil Bagla has resigned from his post as the whole-time director and CEO with the effect from 1 September.

    Bagla shall now be focusing on reducing the debt of the company by monetizing the non-core assets such as the hotel and the surplus land through Walkwater Properties Private Limited (WPPL) (the wholly owned subsidiary of the company) as a director of WPPL.

    The company informed the BSE that Bagla will be continuing on the board as a non executive director (against his previous designation as whole time director) of the company with effect from 1 September.

    The company has also appointed Dhimant Bakshi as chief revenue officer and Ashutosh Kale as chief operating officer and executive director of the company as joint chief executive officers and key managerial personnel w.e.f. 1 September, 2017 to spearhead the executive functions.

    Bakshi has over two decades of experience in the retail industry. He has also been awarded among Top 50 Most Talented Retail Professionals of India by Asia Retail Congress. He has been heading the sales, marketing, F&B and retail business of the company. Dhimant Bakshi has been associated with the company for the last five years. As the joint CEO of the company he shall be responsible for driving the revenues of the company to the next level, apart from regular executive functions.

    Kale has over two decades of experience in the safety and security largely serving the Indian Army. He has served as an instructor in the Indian Military Academy and as an Anti-Terrorism Expert. He was handpicked to lead a contingent of 1700 Indian troops in the United Nations wherein he was responsible for leading strategic, diplomatic, cultural, PR and humanitarian initiatives in the Horn Of Africa. Kale has also been associated with the company for the last five years. As the joint CEO of the company, he shall be responsible for the operations of the parks of the company and enhancing customer experience, apart from regular executive functions.

  • HY-2016: Adlabs footfalls doubles; EBIDTA more than quadruples

    HY-2016: Adlabs footfalls doubles; EBIDTA more than quadruples

    BENGALURU: Adlabs Entertainment Limited (Adlabs) reported almost double (increased by 98.2 per cent) the footfalls at its two theme parks Adlabs Imagica and Adlabs Aquamagica-Water Park for the half-year ended 30 September, 2015 (HY-2016, current half-year) at 7.87 lakh as compared to 3.97 lakh in the corresponding year ago half-year.

     

    Footfalls in the quarter ended 30 September, 2015 (Q2-2016, current quarter) increased 14.8 per cent YoY to 2.48 lakh from 21.6 lakh in Q2-2015, but were more than half (declined 54 per cent) from the 5.39 lakh in the immediate trailing quarter. The company says numbers have been affected due to the closures of the Mumbai-Pune Expressway because of landslides in August and September 2015.

     

    Note:  (1) 100,00,000 = 100 lakh = 10 million = 1 crore

    (2) All numbers in this report are standalone unless stated otherwise

     

    Buoyed by the numbers reported during Q1-2016 (quarter ended 30 June, 2016, immediate trailing quarter, previous quarter) or the school and college holiday season, Earnings before interest, depreciation and amortisation and taxes (EBIDTA) more than quadrupled (4.28 times) in HY-2016 to Rs 18.48 crore (15.1 per cent margin) as compared to the Rs 4.31 crore (six per cent margin) in HY-2015. EBIDTA in Q2-2016 was negative Rs 6.26 crore as compared to the Rs 3.54 crore (9.9 per cent margin) in Q2-2015 and the Rs 24.73 crore (29.1 per cent margin) in Q1-2015.

     

    Adlabs CEO Kapil Bagla said, “The highlight of Q2-2016 was the launch of our Hotel Novotel Imagica with 116 rooms. The hotel has got off to a great start with an average occupancy rate of 77 per cent and a huge pent up demand for this product. We see a healthy mix of corporate and leisure customers at our property and the feedback from customers who have stayed at the Novotel has been very encouraging.”

     

    “We were impacted by the disruption and closure of Mumbai-Pune Expressway due to recurring landslides in the months of August and September. The Expressway is our primary connectivity to the Park. The historical trend is that we achieve 60-62 per cent of our annual footfalls in the second half, so we feel; that Q3 and Q4 will be extremely good quarters for us,” added Bagla.

     

    Let us look at the other numbers reported by Adlabs:

     

    Adlabs revenue in HY-2016 increased 69.6 per cent to Rs 122.22 crore as compared to the Rs 72.07 crore in the corresponding half-year of last year. For Q2-2016, the company reported 4.2 per cent YoY growth in revenue to Rs 37.21 crore as compared to the Rs 35.71 crore in Q2-2015, but a 56.2 per cent decline from the Rs 85.01 crore in the immediate trailing quarter.

     

    Total Expenditure (TE) in HY-2016 increased 38.4 per cent to Rs 146.03 crore (119.5 per cent of TIO) as compared to the Rs 105.53 crore (146.4 per cent of TIO) in HY-2015. TE in Q2-2015 increased 28.5 per cent YoY to Rs 64.99 crore (174.7 per cent of TIO) from Rs 50.56 crore (141.6 per cent of TIO), but declined 19.8 per cent QoQ from Rs 81.05 crore (953 per cent of TIO).

    A major expense head for Adlabs is Employee Benefits Expense (EBE). EBE in HY-2016 increased 48 per cent to Rs 30.32 crore (24.8 per cent of TIO) as compared to the Rs 20.49 crore (28.4 per cent of TIO) in HY-2015. EBE in Q2-2016 increased 56.9 per cent YoY to Rs 14.85 crore (39.9 per cent of TIO) from Rs 9.46 crore (26.5 per cent of TIO) in Q2-2015, but declined four per cent QoQ from Rs 15.47 crore (18.2 per cent of TIO).

     

    Adlabs loss in HY-2016 reduced to Rs 49.45 crore as compared to the Rs 53.61 crore in the corresponding year ago period. Loss in the current quarter however, was higher at Rs 34.73 crore than the loss of Rs 24.94 crore in Q2-2015 and the loss of Rs 14.81 crore in the immediate trailing quarter.

  • Q1-2016: Adlabs revenue gets boost as theme park footfalls triple

    Q1-2016: Adlabs revenue gets boost as theme park footfalls triple

    BENGALURU: Adlabs Entertainment Limited (Adlabs) reported almost three times (2.98 times) the footfalls at its two theme parks Adlabs Imagica and Adlabs Aquamagica-Water Park in the quarter ended 30 June, 2015 (Q1-2016) at 5.392 lakh as compared to the 1.81 lakh in Q1-2015. 

     

    Consequently, the company’s operating revenue (total income from operations, TIO) was 2.34 times in this quarter at Rs 85.01 crore as compared to the Rs 36.37 crore in Q1-2015 and 72 per cent more than the Rs 49.43 crore in Q4-2015.

     

    Note:  (1) 100,00,000 = 100 lakh = 10 million = 1 crore

     (2) All numbers in this report are standalone unless stated otherwise.

     

    Four segments namely ticket sales, food and beverages (F&B); merchandise; and other operations contribute to Adlabs revenue. 

     

    The largest segment by far in terms of percentage of TIO, ticket sales, reported an operating profit of Rs 1.05 crore in Q1-2016 as compared to a y-o-y operating loss of Rs 16.13 crore in Q1-2015 and a q-o-q operating loss of Rs 18.89 crore in Q4-2015. All other segments also showed healthy growth and reported operating profits during the current quarter.

     

    The company’s loss in Q1-2016 has almost halved at Rs 14.81 crore as compared to the loss of Rs 28.67 crore in the corresponding quarter of last year and was less than half the Rs 31.16 crore in Q4-2015.

     

    EBIDTA in Q1-2016 was positive Rs 24.74 crore (29.1 per cent margin) as compared to the negative EBIDTA of Rs 2.25 crore in Q1-2015 and the positive EBIDTA of Rs 3.78 crore (7.7 per cent margin) in Q4-2015. Adlabs EBIDTA in the current quarter has already surpassed the EBIDTA of Rs 20.51 crore for FY-2015. 

    Segment details

     

    Ticket Sales

    Ticket sales revenue more than doubled (2.21 times) in Q1-2016 at Rs 61.91 crore (72.8 per cent of TIO) as compared to the Rs 28.05 crore (77.1 per cent of TIO) in the corresponding year ago quarter and was 76.1 per cent more than the Rs 35.16 crore (71.1 per cent of TIO) in the immediate trailing quarter. Results of this segment have been mentioned above.

     

    Food & Beverages (F&B)

    Adlabs F&B segment revenue more than doubled (2.4 times) in Q1-2016 at Rs 13.28 crore (15.6 per cent of TIO) as compared to the Rs 5.59 crore (15.4 per cent of TIO) in Q1-2015 and was 53.9 per cent more than the Rs 8.63 crore (17.5 per cent of TIO) in Q4-2015.

     

    F&B reported operating profit of Rs 3.83 crore in Q1-2016 as compared to an operating loss of Rs 0.13 crore in Q1-2015 and an operating profit of Rs 1.72 crore in the immediate trailing quarter.

     

    Merchandise

    Merchandise segment reported more than triple (3.3 times) revenue at Rs 7.31 crore (8.6 per cent of TIO) in Q1-2016 as compared to the Rs 2.27 crore (6.2 per cent of TIO) in Q1-2015 and was 66.4 per cent more than the Rs 4.39 crore (8.9 per cent of TIO) in Q4-2015.

     

    The segment reported an operating profit of Rs 1.07 crore in Q1-2016 as compared to an operating loss of Rs 0.18 crore in Q1-2015 and an operating loss of Rs 0.14 crore in the prior quarter Q4-2015.

     

    Other Operations

    Other operations’ revenue more than quintupled (5.4 times) in Q1-2016 at Rs 2.51 crore as compared to the Rs 0.46 crore in Q1-2015 and was more than double (2.02 times) the Rs 1.24 crore in Q4-2015.

     

    The segment reported an operating profit of Rs 0.09 crore as compared to an operating loss of Rs 0.97 crore in Q1-2015 and an operating loss of Rs 0.03 crore in Q4-2015.

     

    Let us look at the other numbers reported by Adlabs

     

    The company’s total expenditure in the current quarter at Rs 81.05 crore (95.3 per cent of TIO) was 47.4 per cent more than the Rs 54.97 crore (151.2 per cent of TIO) in Q1-2015 and was 18.7 per cent more than the Rs 62.87 crore (138.1 per cent of TIO).

     

    The company’s advertising costs in Q1-2016 almost doubled (up 97.6 per cent) at Rs 19.13 crore (22.5 per cent of TIO) as compared to the Rs 9.68 crore (26.6 per cent of TIO) in Q1-2015 and was 60.4 per cent more than the Rs 11.93 crore (24.1 per cent of TIO) in the previous quarter.

     

    Other expense in Q1-2016 declined 8.5 per cent to Rs 6.15 crore (7.2 per cent of TIO) as compared to the Rs 6.72 crore (18.5 per cent of TIO) in the corresponding year ago quarter and declined 39.2 per cent as compared to the Rs 10.12 crore (20.5 per cent of TIO) in the immediate trailing quarter.

     

    Employee Benefits Expense in Q1-2016 at Rs 15.47 crore (18.2 per cent of TIO) was 40.3 per cent more than the Rs 11.03 crore (30.3 per cent of TIO) in Q1-2015 and was 18.7 per cent more than the Rs 13.04 crore (26.4 per cent of TIO) in Q4-2015.

     

    Company Speak

     

    Adlabs CEO Kapil Bagal said, “As envisaged the theme park and the waterpark are complimenting each other and working extremely well as a combination. Imagica is focused on attracting children, families, groups and corporate and Aquamagica is focused on attracting the youth and college segments and together both parks covering all segments of customers. We are seeing great response from our promotional marketing activities and new properties of Happy Tuesdays and Lazy Sundays. All our sales channels activation is looking promising with a multi-city expansion of sales agents with expansion of our reach across India. Further, we have pre-paid approximately Rs 250 crore of debt with the funds in our IPO and we now have comfortable debt to equity ratio and our interest outgo has also reduced.”

     

    “Our hotel Novotel Imagica Khopoli is on the verge of launching in August and we are already seeing encouraging advance bookings by corporate for their MICE and social events. Once the hotel is operational, we will become a complete integrated holiday destination in India,” he added.

  • Adlabs Imagica and Aquamagica exceed the 1 mn visitor mark in FY 2014-15

    Adlabs Imagica and Aquamagica exceed the 1 mn visitor mark in FY 2014-15

    MUMBAI: Adlabs Imagica, India’s first and only International standard Theme Park and the recently opened water nation Aquamagica celebrate the milestone record of exceeding 1 million visitor arrivals in the Fiscal Year 2014-15. The Theme Park and Water Park have entertained guests with unique and never seen before experiences in the magical land created by Adlabs Entertainment Ltd. The parks witnessed visitors from not only regions in close proximity like Maharashtra and Gujarat but also other parts of the country like Delhi NCR, Bangalore, Rajashthan, West Bengal, Punjab amongst others.

     

    With growing popularity across the country, this summer Adlabs Entertainment Ltd. is all set to invite holiday – goers to their one-of-its-kind complete entertainment destination. Visitors can experience Imagica, Aquamagica and adding to the destination is the soon to open Novotel Imagica Khopoli that will have 287 rooms coupled with various other attractive facilities during their visit. Thedestination has been created to enable Indian families to enjoy international standard entertainment and value for money experiences without the need to travel overseas.

     

    On the occasion, Adlabs Entertainment CEO Kapil Bagla said, “We are extremely happy on crossing the 1 million visitor mark at our parks, Imagica and Aquamagica in the last financial year. We have already kickstarted the new financial year with the first few days of April hitting new peaks in terms of the number visitors with the Imagica 2nd Birthday Celebrations. We are targeting a 400 per cent growth over last April and are confident of achieving the same after witnessing an over a 300 per cent year on year growth in March ’15.”