Jungle Camps India Ltd Management Discussions

The World Wildlife Hospitality Sector has witnessed significant growth in recent decades, driven by the rising global consciousness toward conservation, sustainable tourism, and immersive nature-based travel experiences. Eco-lodges, safari resorts, and conservation-centric luxury accommodations have emerged across Africa, South America, Southeast Asia, and parts of Australia, offering curated experiences that combine wildlife observation with responsible tourism. This sector plays a crucial role in biodiversity preservation, community engagement, and promoting environmental awareness among travellers.

In contrast, the Indian Wildlife Hospitality Sector has a unique character shaped by the countrys diverse ecosystems and rich wildlife heritage, particularly its population of iconic species such as the Bengal tiger, Asiatic elephant, and one-horned rhinoceros. Over the years, India has cultivated a growing network of wildlife lodges, jungle resorts, and safari experiences in and around national parks and tiger reserves, offering travellers a blend of rustic charm and refined comfort. Among these, Central Indias Tiger Reserves—such as Bandhavgarh, Kanha, Pench, Satpura, and Panna—have become prominent hubs of wildlife hospitality. These reserves, part of the larger Satpura-Maikal forest belt, are home to thriving tiger populations and diverse flora and fauna. The hospitality sector here is distinct in its deep-rooted connection to conservation, local communities, and tribal heritage. Jungle lodges and eco-resorts in this region not only provide safari experiences but also contribute to sustainable livelihood, heritage tourism, and the protection of fragile forest ecosystems. With increasing interest from both domestic and international travellers, the Indian wildlife hospitality industry—especially in Central India—is poised for responsible growth, balancing ecological sensitivity with high-quality tourism experiences.

The Indian wildlife and eco-tourism industry continues to show resilient growth, supported by a growing interest in sustainable travel, domestic tourism demand, and government initiatives promoting eco-friendly tourism models. Post-pandemic recovery has firmly taken root, with increased footfall in wildlife parks, nature reserves, and experiential rural destinations. Demand for premium yet nature-integrated hospitality offerings remain strong.

2. Company Overview Jungle Camps India Limited, a leading player in wildlife and eco-tourism hospitality, operates a chain of nature-centric resorts and experiential wilderness accommodations across Central Indias key national parks and sanctuaries. The Company remains committed to offering authentic and sustainable hospitality experiences while achieving healthy financial growth.

During the year under review, the Company continued to expand its footprint and service capabilities, emphasizing operational efficiency, guest experience enhancement, and digital marketing.

The Annual Report contains financial statements of the company both on a standalone and consolidated basis. An analysis of the financial affairs is disclosed below under summarised headings:

The following table sets forth financial information for the Company for the ended March, 2025.

The following table sets forth consolidated financial information for the Company for the ended March, 2025.

The Company achieved a Total Consolidated Revenue from Operations of Rs.221.00 million, a growth of 26.37% over Rs.174.88 million in FY 2023-24. Standalone revenue also rose by 27.13%, indicating consistent performance across properties. The growth was driven by increased footfall in national parks, higher average room rates, and expanded ancillary services.

Other income rose to Rs.7.11 million on a consolidated basis, showing a 15.05% increase, primarily from interest, service add-ons, and asset-related earnings.

EBITDA on a consolidated basis improved to Rs.74.28 million (10.94% increase), reflecting effective cost management despite higher operating expenses. However, the EBITDA margin declined slightly to 32.56% from 36.98%, due to increased maintenance and kitchen expenditures.

Profit Before Tax (PBT) stood at Rs.56.68 million on a consolidated basis, up by 12.18%, while Profit After Tax (PAT) rose by 13% to Rs.40.52 million. However, higher tax incidence impacted PAT margin, which slightly decreased from 19.83% to 17.76%.

• Employee Benefits increased by 51.17% (Consolidated), aligned with business expansion and inflationary wage adjustments.

• Repair & Maintenance saw a significant surge (204.78%) due to infrastructural enhancements, renovation projects, and nature-sensitive upkeep in forest-adjacent properties.

Kitchen and Power & Fuel Costs also increased due to increased occupancy and the adoption of premium service standards.

Jungle Safari & Pick-up/Drop Costs decreased marginally, reflecting better vendor negotiations