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Imagicaaworld Entertainment Ltd.

BSE: 539056 Sector: Services
NSE: IMAGICAA ISIN Code: INE172N01012
BSE 10:19 | 29 Nov 10.96 -0.57
(-4.94%)
OPEN

11.00

HIGH

11.45

LOW

10.96

NSE 10:14 | 29 Nov 11.00 -0.55
(-4.76%)
OPEN

11.00

HIGH

11.00

LOW

11.00

OPEN 11.00
PREVIOUS CLOSE 11.53
VOLUME 20816
52-Week high 14.29
52-Week low 4.45
P/E
Mkt Cap.(Rs cr) 97
Buy Price 0.00
Buy Qty 0.00
Sell Price 10.96
Sell Qty 2175.00
OPEN 11.00
CLOSE 11.53
VOLUME 20816
52-Week high 14.29
52-Week low 4.45
P/E
Mkt Cap.(Rs cr) 97
Buy Price 0.00
Buy Qty 0.00
Sell Price 10.96
Sell Qty 2175.00

Imagicaaworld Entertainment Ltd. (IMAGICAA) - Chairman Speech

Company chairman speech

I would like to update that despite sincere efforts from the management to avoid a NPA scenario the company slipped into NPA during the year. However even though the company has become NPA the operations of the park have been stable and not impacted by any means. We are providing the same quality of service and guest experience as before.

The lenders and the management have been working together on arriving at an amicable debt resolution. Various reports like Forensic Valuation Legal etc has been prepared by reputed firms and been submitted to the lenders towards the process of debt resolution.

It is my pleasure to inform you that since the launch in April 2013 over 8.0 million people have visited Imagica. The visitors continue to show the appreciation of the product among our guests across the country. I am also pleased to update that our hotel `Novotel Imagica' has become fully operational from September 2018. This year would be the first full year of operations with complete 287 rooms.

Imagica has also bagged many accolades under its belt like the IAAPI National Awards For Excellence 2018-2019 in five categories VFS Global Times Travel Awards 2019 - Adventure Attraction Sector for the second time in a row.

Last year GST was reduced to 18% from 28%. This year we are diligently working towards getting the refund mechanism set-up for the SGST share of 9% in lieu of Entertainment tax waiver the company has received for its mega tourism status from Government of Maharashtra. The company has made a number of representations to the Government of Maharashtra with respect to the SGST refund. We have also approached the Bombay High Court to have this expedited.

As part of ongoing marketing activities Imagica has forged strong cross promotion alliances with variety of brands across multiple industries such as airlines and travel food and retail banks mobile wallets and service providers and education brands.

We are also one of the preferred destinations for MICE weddings and family holidays. In spite of this we have some way to go in making this project every Indian's `must-visit' holiday destination.

I thank you for your investment and for having continued faith in our Company despite this difficult phase which we are going through. We assure you of our continued commitment to make people happy and to ultimately take this company to its full potential.

I would also like to thank our Board of directors and employees in this ongoing journey in making our vision a reality and continuously offering a high class entertainment experience to our patrons.

Manmohan Shetty

Chairman

.