India Ratings & Research (Ind-Ra) vide its press release dated May 14, 2026, has affirmed/assigned the Rating for Company''s Bank loan facilities

India Ratings & Research has assigned and affirmed an IND A/Stable/IND A1 rating for Imagicaaworld Entertainment's bank loan facilities totaling Rs. 4,400 million (Rs. 650 million newly assigned, Rs. 3,750 million affirmed). The company posted strong FY25 results with revenue growing 52% year-on-year to Rs. 4,102 million and EBITDA margins improving to 43%, driven by the acquisition of four parks from the Malpani Group. Net leverage improved significantly to 0.74x from 2.27x in FY24 following debt reduction from Rs. 3,403 million to Rs. 1,671 million, mainly through preference share conversion. However, 9MFY26 performance was muted due to early monsoons affecting western region parks, with revenue declining to Rs. 2,820 million. The company has expansion plans including parks in Ahmedabad and Hello Parks across India, with cash requirements of around Rs. 6,000 million over the next 12-18 months.