ANNEXURE – IV
A. Industry Structure and Development
The COVID-19 pandemic had a profound impact on the global amusement park industry. With
widespread closures, reduced visitor numbers, and operational challenges, amusement parks
faced unprecedented hurdles. However, as the world recovers from the pandemic, the
industry is witnessing significant structural changes and exploring new avenues for
development.
In 2020, amusement park attendance in the United States fell by 80%, and the industry
lost an estimated $10 billion in revenue. Global Amusement Park market size was valued at
USD 48.8 billion in 2021 and is poised to grow from USD 51.23 billion in 2022 to USD 79.26
billion by 2030, growing at a CAGR of 4.97% in the forecast period (2023-2030).
Industry Structure Pre-COVID:
Before the pandemic, the amusement park industry exhibited a diverse range of
structures. It encompassed large-scale theme parks, regional amusement parks, and smaller
family entertainment centers. Theme parks typically featured multiple themed lands, rides,
attractions, and often hotels and resorts. Regional parks offered a more localized
experience, while family entertainment centers focused on smaller-scale attractions like
arcades and indoor play areas.
Impact of COVID-19:
The COVID-19 pandemic resulted in the temporary closure of amusement parks worldwide.
The industry faced severe financial losses due to reduced or zero revenue streams.
Additionally, implementing health and safety protocols posed operational challenges,
limiting visitor capacity and altering the overall park experience. Many parks had to
downsize their workforce or even shut down permanently.
Post-COVID Recovery:
Amusement parks have gradually reopened as vaccination efforts progressed and infection
rates decreased. However, the recovery process has been gradual, with visitor numbers
initially lower than pre-pandemic levels due to ongoing safety concerns. To adapt, parks
have implemented enhanced cleaning protocols, contactless technologies, and crowd
management systems to ensure visitor safety.
Despite these challenges, the amusement park industry is slowly recovering.
Digital Transformation and Experience Enhancement:
The pandemic accelerated the industrys digital transformation, with amusement parks
embracing technology to enhance visitor experiences. Mobile apps and virtual queuing
systems enable guests to reserve ride times, reducing wait times and allowing for a more
personalized experience. Augmented and virtual reality technologies are being integrated
into attractions to create immersive experiences.
Focus on Outdoor Spaces:
Amusement parks with expansive outdoor areas have gained prominence as visitors
prioritize open-air environments and social distancing. Theme parks and regional parks
with ample green spaces and outdoor attractions are being favored by guests seeking to
minimize close contact.
This shift has prompted parks to emphasize the development and enhancement of outdoor
rides, shows, and interactive experiences.
Health and Safety Measures:
Maintaining health and safety protocols remains crucial for amusement parks
post-pandemic. Enhanced cleaning procedures, hand sanitizing stations, and increased
ventilation are now standard practices. Some parks have implemented temperature checks and
mandatory mask policies to ensure visitor safety. Regular communication and transparent
information sharing with guests regarding safety measures are vital to rebuild trust.
Diversification and Experiential Offerings:
Amusement parks are diversifying their offerings to attract a wider audience and cater
to evolving consumer preferences. Beyond traditional rides, parks are incorporating
experiential elements such as live entertainment, interactive exhibits, and immersive
storytelling. Integration of intellectual properties (IPs) from movies, TV shows, and
video games into attractions has become increasingly common, appealing to fans and
enhancing the overall guest experience.
The amusement park industry is poised for a bright future. By adapting to the
challenges of the pandemic, amusement parks have created a foundation for long-term growth
and success. In the years to come, amusement parks will continue to offer innovative and
immersive attractions that create memorable experiences for visitors of all ages.
Global Scenario
The amusement park industry is a global one, with parks located all over the world. The
industry has been growing steadily in recent years, with revenue reaching $43.7 billion in
2019. However, the COVID-19 pandemic has had a significant impact on the industry, with
many parks forced to close for extended periods of time.
In the pre-COVID era, the amusement park industry was booming. Attendance at theme
parks was increasing, and new parks were being built all over the world. The industry was
also becoming more diversified, with a wider range of attractions and experiences being
offered to visitors.
However, the COVID-19 pandemic has had a devastating impact on the amusement park
industry. In 2020, attendance at amusement parks plummeted as people were forced to stay
home to avoid the virus. Many parks were forced to close for extended periods of time, and
some even filed for bankruptcy.
Despite the challenges posed by the pandemic, the amusement park industry is still a
major economic force. In 2020, the industry generated $23.4 billion in revenue and
supported over 300,000 jobs. The industry is also a major source of tourism, with visitors
from all over the world coming to experience the thrills and excitement of theme parks.
Amusement park businesses are recovering from the coronavirus crisis and approaching
their pre-pandemic performance levels. They have adapted their operations and overcome the
pandemic challenges of social distancing, remote working and shutting down commercial
activities. The global amusement parks market increased from $67.16 billion in 2022 to
$106.57 billion in 2023 at a CAGR of 58.7%.
The amusement park industry is expected to continue to grow in the coming years. As the
global economy recovers from the pandemic, people will be looking for ways to have fun and
spend time with their families. Theme parks offer a unique and exciting experience that is
sure to appeal to people of all ages.
Challenges
• The ongoing COVID-19 pandemic continues to pose a threat to the industry.
• Rising costs, such as Labour and energy, are putting pressure on margins.
• Increased competition from other forms of entertainment, such as streaming
services and video games, is eating into attendance.
• The need to invest in new attractions and experiences to keep up with changing
consumer demands.
Opportunities
• The growing middle class in developing countries is creating a new market for
theme parks.
• The rise of social media is helping to promote theme parks and attract new
visitors.
• The development of new technologies, such as virtual reality and augmented
reality, is opening up new possibilities for theme park experiences.
The amusement park industry is facing a number of challenges in the post-COVID era.
However, there are also a number of opportunities for the industry to grow and thrive. The
industry is well-positioned to capitalize on these opportunities and emerge from the
pandemic stronger than ever before.
The global economy is expected to recover from the pandemic through measures like
stimulus packages and infrastructure investments. Technological advancements such as
Artificial Intelligence, automation, and blockchain will transform industries, while
sustainability and ESG considerations will drive business decisions. Supply chains will
focus on resilience and diversification, and consumer behavior will favor e-commerce and
personalized experiences. Government policies, geopolitical risks, and trade disputes will
shape the business environment. Unexpected events may impact the global business scenario,
requiring updated forecasts and expert analyses.
Domestic Scenario
The projected economic growth of India for 2023-24 carries immense importance as it
offers insights into the future trajectory of one of the worlds rapidly developing
economies. While specific forecasts may vary, there is a widespread sense of optimism
regarding Indias growth prospects. Government-led reforms targeting business enhancement,
complemented by infrastructure development, digital transformation, and the advantage of a
young demographic dividend, are anticipated to be pivotal drivers of economic expansion.
The convergence of these factors fosters a favorable environment for heightened
investments, job opportunities, and technological advancements, positioning India as a
promising contender in the global economic landscape.
The market size of the Indian amusement park sector is around USD 500 million and is
estimated to grow at a 10% CAGR between FY22 and FY27. The size of this industry in India
is ~1% of the global industry of ~USD 49 billion. India has 125+ districts with a
population of over 3 million, with only 15-20 major amusement parks in India with a
footfall of greater than 0.5 million/year, thus presenting a huge opportunity for the
sector in the coming years.
In the post-COVID era, the amusement park industry in India encounters both challenges
and opportunities. Challenges include the rising costs of land and construction, shortage
of skilled Labour, and the threat of competition from online and virtual experiences. On
the other hand, opportunities arise from the growing middle class, the increasing
popularity of theme parks, and the development of new technologies like virtual reality.
To adapt and thrive, the industry is witnessing key trends such as the adoption of
experiential marketing to offer unique and immersive experiences, a focus on
sustainability to reduce environmental impact, the utilization of data for customer
insights and revenue generation, and the need for continuous innovation to stay
competitive.
Despite challenges, the future of the amusement park industry in India looks promising,
with ample opportunities for growth and innovation. As the industry evolves, it will
continue to captivate audiences and provide memorable experiences for visitors,
solidifying its position as a dynamic and flourishing sector.
Future & Recovery
The future and recovery of amusement parks in both India and abroad are poised for a
strong resurgence. While the COVID-19 pandemic brought unprecedented challenges to the
industry, there is a growing sense of optimism as the world gradually moves towards a
post-pandemic era.
Amusement parks in India are expected to witness a robust recovery and continued
growth. The factors that drove their success in the past, such as rising disposable
incomes, a growing middle class, urbanization, and the popularity of theme parks, are
expected to remain influential in shaping their future. Additionally, the Indian
governments focus on infrastructure development and tourism promotion will further
contribute to the industrys recovery. By adapting to changing consumer preferences,
investing in technology, and prioritizing safety and hygiene measures, Indian amusement
parks can create memorable experiences for visitors and solidify their position as key
contributors to the entertainment and tourism sectors.
Similarly, amusement parks abroad are also poised for a promising future. As
international travel resumes and restrictions ease, the demand for unique experiences and
entertainment will drive the recovery of these parks. With a renewed focus on health and
safety, innovative attractions, and immersive experiences, amusement parks abroad will
attract visitors seeking joy, thrills, and memorable moments.
To ensure a successful recovery and future growth, amusement parks globally must
embrace sustainability practices, leverage advancements in technology, and prioritize
guest satisfaction. By staying attuned to evolving consumer trends, harnessing the power
of digital marketing and social media, and continuously enhancing their offerings,
amusement parks can secure their relevance and appeal to a diverse range of visitors.
While challenges may persist, the collective resilience, creativity, and adaptability
of the amusement park industry in India and abroad indicate a promising future. The
enduring allure of these parks as destinations for entertainment, leisure, and shared
experiences will continue to drive their recovery, growth, and contribution to the global
tourism and entertainment sectors.
B. Opportunities and Threats Opportunity
• Growing Domestic Tourism: The increasing trend of domestic tourism in
India presents a significant opportunity for amusement parks. As more people explore local
destinations, there is a greater potential for increased footfall and revenue for
amusement parks.
• Rising Disposable Income: With the growing middle class and rising
disposable incomes, there is an opportunity for amusement parks to tap into a larger
consumer base. People are willing to spend on leisure activities, providing a favorable
environment for the industry.
• Technological Advancements: Embracing technological advancements such as
virtual reality, augmented reality, and interactive experiences can enhance the offerings
of amusement parks and attract a wider audience. Incorporating digital advancements can
provide unique and immersive experiences.
• Thematic Innovation: Constant innovation in theme development and
attractions can help amusement parks stay relevant and attract repeat visitors. Offering
new and exciting themes, incorporating local culture, and updating rides and experiences
can generate interest and excitement among visitors.
Threats:
• Uncertain Economic Environment: Economic uncertainties such as inflation,
fluctuating exchange rates, and changes in consumer spending patterns can impact the
willingness of individuals to spend on leisure activities, including amusement parks.
• Competition from Online Entertainment: The rise of online entertainment
platforms and virtual experiences poses a threat to the amusement park industry. Online
gaming, streaming services, and virtual reality experiences provide convenient and
cost-effective alternatives that may compete for consumer attention.
• Regulatory Challenges: Amusement parks are subject to various regulations
and permits related to safety, environmental concerns, and land usage. Changes in
regulatory requirements or strict enforcement can create operational challenges and
increase compliance costs for the industry.
• Public Health Concerns: The ongoing COVID-19 pandemic has highlighted the
vulnerability of the amusement park industry to public health crises. The emergence of new
variants or future health crises can result in temporary closures, reduced visitor
numbers, and additional health and safety protocols, impacting the industrys operations.
Overall, while Indian amusement parks have strengths in terms of diverse attractions,
cultural richness, and a growing middle class, they also face weaknesses related to
seasonal fluctuations, infrastructure challenges, maintenance and safety standards, and
price sensitivity. By addressing these weaknesses and capitalizing on their strengths,
amusement parks can position themselves for sustained growth and success in the Indian
market.
C. Segment-wise Performance a. Park Operations
During the fiscal year that concluded on March 31, 2023, Your Company experienced a
notable turnaround as we successfully overcame the obstacles presented by the pandemic.
After contending with closures and limitations in the preceding financial years of
2020-2021 and 2021-2022, Nicco Park operated uninterrupted throughout the entire year,
allowing us to capitalize on pent-up demand and achieve remarkable milestones in terms of
footfall, turnover, and profitability.
b. Footfall:
The pent-up demand for recreational activities following the pandemic resulted in an
unprecedented surge in visitor footfall during the first three quarters of the financial
year 2022-2023. Guests were enthusiastic about experiencing the excitement and joy of our
amusement park after a prolonged period of limited entertainment options. Consequently, we
observed the highest footfall levels during the peak summer season. This increased
footfall naturally led to a growth in turnover. With more visitors frequenting our park,
our revenue from entry and package ticket sales, as well as food and beverage sales,
experienced substantial growth. The heightened footfall levels and the subsequent rise in
turnover not only facilitated our recovery from previous years losses but also surpassed
our previous best financial performances.
c. Profitability:
The exceptional footfall and turnover figures directly contributed to the outstanding
financial performance of the Company. We are pleased to report that we achieved the
highest profit before tax in the entire history of our Company during the financial year
2022-2023. The strong demand and increased revenue streams allowed us to optimize our
operational efficiency and maximize profitability.
d. Quarterly Analysis:
While the first three quarters of the financial year 2022-2023 witnessed an exceptional
rise in footfall and financial success, the final quarter experienced a slight decline in
both footfall and revenue. This can be attributed to the natural dissipation of pent-up
demand over time. As the initial excitement subsided and other entertainment options
became available, footfall levels gradually decreased.
e. Other Recreational Activity, Food & Beverage and Nicco Super Bowl
Due to the lockdown and subsequent capacity limitations, the operations of Nicco Super
Bowl Other Recreational Activity and Food and Beverage segments were significantly
impacted. Furthermore, there were numerous event booking cancellations and refunds.
However, following the lifting of restrictions, F&B segment, Nicco Super Bowl and
other recreational activities have experienced remarkable recovery. In the fiscal year
under review, the income from other recreational facilities reached Rs. 1010 lakhs.
Additionally, the food and beverage segment contributed Rs. 836 lakhs, and rental sales at
the waterpark generated Rs. 265 lakhs.
f. Consultancy, Contract and Sale of Ride Components
In the fiscal year under review, your Company had projects under implementation, which
contributed to an income of Rs. 63 lakhs. These ongoing projects signify our commitment to
expanding our parks, rides, and facilities to cater to the growing demand for leisure and
entertainment experiences.
Looking ahead, we are optimistic about generating enquiries from prospective customers
who are interested in setting up their own parks, rides, or recreational facilities. With
our expertise and track record in the industry, we aim to provide comprehensive solutions
and support to meet their requirements and help them create successful ventures.
We are confident that our established reputation and the success of our existing
projects will attract potential customers, fostering new opportunities for growth and
collaboration in the amusement park industry. Our team is dedicated to delivering
exceptional service and value to our clients, ensuring their satisfaction and driving
further business prospects for the future.
D. OUTLOOK
The COVID-19 pandemic had a significant impact on the amusement park industry in India,
with park closures and travel restrictions leading to a decline in footfall and revenue.
However, the industry is expected to gradually recover in the post-pandemic period.
Post the COVID-19 pandemic, several key trends are anticipated to shape the outlook for
amusement parks in India:
Digital Transformation: Amusement parks are increasingly embracing digital
technologies to enhance the overall guest experience. This includes the implementation of
mobile apps for ticketing, virtual reality attractions to provide immersive experiences,
and the utilization of artificial intelligence for personalized recommendations and
interactions.
Sustainability: Amusement parks are actively focusing on sustainability
initiatives to minimize their environmental impact. This involves the adoption of
renewable energy sources, such as solar power, to reduce carbon emissions. Additionally,
parks are implementing water conservation measures and implementing waste management
practices like recycling and proper disposal.
Collaboration: Amusement parks are forging collaborations with other businesses
to offer a more comprehensive and integrated experience to their guests. These
partnerships can involve tie-ups with nearby hotels, restaurants, and retail stores. By
providing combined packages and seamless services, parks can attract more visitors and
enhance their overall satisfaction.
The outlook for the amusement park industry in India post the COVID-19 pandemic is
optimistic. The industry is expected to benefit from the growth in disposable income, as
individuals seek out entertainment and leisure activities. Urbanization plays a
significant role as well, with increasing urban populations creating a larger consumer
base for amusement parks. Additionally, the growth of tourism in India, both domestic and
international, presents opportunities for parks to attract visitors from different
regions.
The adoption of digital technologies will contribute to an improved guest experience,
providing convenience and personalization. Sustainability initiatives will not only reduce
environmental impact but also appeal to environmentally conscious consumers. Collaboration
with other businesses will offer guests a more holistic and satisfying experience,
encouraging longer stays and repeat visits.
The amusement park industry in India is poised for growth in the post-pandemic period.
By leveraging digital transformation, emphasizing sustainability, and fostering
collaborations, amusement parks can capitalize on the increasing demand and provide
memorable experiences for their guests.
Your Company remains committed to enhancing our offerings, improving guest experiences,
and exploring new avenues for growth. Moving forward, we will focus on attracting a
diverse audience, implementing innovative marketing strategies, and investing in new
attractions to ensure the sustained success of our amusement park.
Your Company successfully rebounded from the challenges posed by the pandemic,
achieving record-breaking footfall, turnover, and profitability. The positive momentum
gained during this financial year sets the stage for long term growth and success in the
future.
E. Risks and Concerns
The Audit Committee plays a crucial role in overseeing and managing risks on behalf of
the Board of Directors. It supervises risk management functions and relies on
comprehensive reports to consistently assess and evaluate risks, ensuring that the
organizations business strategy aligns with its risk management objectives. Working
closely with the management team, the Committee develops a comprehensive approach to
managing significant risks by establishing guidelines, policies, and procedures. It pays
particular attention to key risk areas, such as credit, liquidity, funding, and market
risks, and takes proactive measures to mitigate them. The Committee also safeguards the
Companys reputation through effective reputation management strategies and considers both
short and long-term outcomes to ensure the organizations stability and success.
With the utmost priority placed on visitors safety, our Company maintains a steadfast
commitment to ensuring the highest standards of maintenance for all its rides and
attractions. To achieve this, rigorous measures are implemented on a daily basis. Our
in-house engineering team conducts thorough inspections to guarantee the operational
safety of all rides. This includes regular checks to identify and rectify any potential
issues promptly.
In addition to our internal inspections, we also engage renowned third-party inspection
firms such as Westlakes Engineering Private Limited, UK, TUV India Pvt. Ltd and SGS India
Pvt. Ltd to conduct periodic assessments. These independent inspections are conducted by
expert professionals who possess extensive knowledge and experience in the field of ride
safety. They employ rigorous evaluation processes and adhere to stringent industry
standards to ensure compliance and the utmost safety for our visitors.
By utilizing the services of these respected inspection firms, we demonstrate our
unwavering commitment to maintaining the highest levels of safety for our visitors. These
external inspections provide an additional layer of assurance, as they bring an objective
perspective and expertise that further enhances our safety protocols.
By continuously upholding our commitment to safety through daily inspections, in-house
expertise, and periodic third-party assessments, we provide an environment where visitors
can have full confidence in the quality and safety of our rides and attractions.
F. Internal Control Systems and their Adequacy
Your Company has implemented robust internal financial control systems that encompass
all aspects of its operations. These systems are designed to ensure compliance with
Company policies, safeguard assets, prevent and detect fraud and errors, maintain accurate
and comprehensive accounting records, and ensure the timely preparation of reliable
financial information.
Your Company engages a combination of internal and external auditors to reinforce these
controls and stay updated with the latest industry best practices. The Independent Audit
Committee of the Board oversees and evaluates the adequacy of the Companys internal
financial control measures. By implementing these comprehensive internal financial control
systems, Your Company strives to uphold the highest standards of corporate governance and
financial management. Your Company recognizes the importance of transparency, accuracy,
and reliability in its financial operations. Its commitment to these principles ensures
that it maintains the trust of its stakeholders and operates in a responsible and
sustainable manner.
Overall, Your Companys internal financial control systems are continuously reviewed
and improved to align with industry-leading practices. Through diligent monitoring,
evaluation, and adherence to established policies and procedures, the Company is confident
in its ability to effectively manage risks and maintain the integrity of its financial
operations.
G. Operational & Financial Performance (a) Operational Performance
Your Company saw a significant increase in visitors during the fiscal year in review. A
total of 14.45 lakhs people visited Nicco Park, with 6.16 lakhs visiting the waterpark and
5.79 lakhs visiting the main park. Nicco Super Bowl & Other Recreational Facility also
registered healthy growth.
This increase in footfall can be attributed to the relaxation of COVID-19 guidelines
and the pent-up demand for leisure and entertainment activities. The extreme warm weather
conditions also amplified the pent-up demand, leading visitors to prefer the waterpark as
their destination of choice.
As a result of this heightened demand, both the food and beverage segment and the park
segment experienced robust revenue generation during the first two quarters of the
2022-2023 financial year. The increased footfall translated into greater patronage for the
Companys park offerings, contributing to the overall financial performance of the
Company. Following the relaxation of COVID restrictions, the removal of travel
limitations, and the easing of public gathering regulations, there was a surge in bookings
for events, ceremonies, and parties. This resulted in the ‘Other Recreational
Facility sector experiencing a rebound, reaching pre-pandemic levels.
These positive trends in footfalls and revenue highlight the successful execution of
the Companys business strategy and the effective capitalization on market conditions. The
ability to adapt to changing circumstances and leverage pent-up demand has proven
beneficial for the Companys financial performance, positioning it favorably in the
amusement park industry.
(b) Financial Performance
During the fiscal year 2022-2023, Your Company achieved a total income of Rs. 7904
lakhs. The income generated from entry and rides amounted to Rs. 5269 lakhs, while the
income from other recreational facilities reached Rs. 1010 lakhs. Additionally, the food
and beverage segment contributed Rs. 836 lakhs, and rental sales at the waterpark
generated Rs. 265 lakhs. Your Company also received a miscellaneous income of Rs. 297
lakhs, with project income standing at Rs. 63 lakhs.
Thanks to the exceptional performance across all segments, Your Company achieved a
remarkable profit before depreciation, interest, and tax (PBDIT) of Rs. 3191 lakhs, along
with a record-breaking profit before tax (PBT) of Rs. 2937 lakhs.
Furthermore, the Board declared and paid three interim dividends throughout the
financial year 2022-2023. These dividends were distributed at a rate of 50% (0.50 paise
per share of face value Rs. 1), 40% (0.40 paise per share of face value Rs. 1), and 25%
(0.25 paise per share of face value Rs. 1) respectively, during the first, second, and
third quarters.
These strong financial results and dividend distributions showcase the Companys robust
financial performance and its commitment to rewarding its shareholders.
H. Human Resources Management
The HRM team has played a crucial role in effectively managing the Companys human
capital, prioritizing talent recruitment, development, and retention for organizational
growth and strategic objectives. Efforts were focused on creating a positive work
environment, enhancing employee well-being, and work-life balance through initiatives like
employee engagement & wellness programs. Training and development programs were given
importance to upskill the workforce. The team also addressed employee concerns, ensured
compliance with labor laws, and maintained healthy employee relations. As on 31st March,
2023 number of people employed by the Company was 216. The IR situation continues to be
peaceful.
.I. Details of Key Financial Ratios
Sl. No. Ratios |
Year 2022-2023 |
Year 2021-2022 |
% Changes Inc./(dec) |
Reason for variation over 25% |
1. Debtors turnover ratio (Credit Sales or income/Average receivables) |
2.67 |
2.19 |
22.30 |
Within 25% |
2. Inventory Turnover ratio (COGS/Average Inventory) |
2.02 |
0.68 |
198.50 |
COGS in 2022-23 was increased by Rs.433 lakh as compared to 2021-22
mainly due to increase in volume of operations in 2022-23 compared to previous year. |
3. Interest coverage Ratio (EBIT/Finance cost) |
98.90 |
16.79 |
83.02 |
Earning before Interest & Tax for 2022- 23 was Rs. 2967 lakh as
compared to Rs. 556 lakh in the previous year. |
4. Current Ratio (current Assets/Current Liabilities) |
2.27 |
2.66 |
(14.75) |
Within 25% |
5. Debt Equity Ratio (Total Liabilities/Equity) |
- |
0.06 |
(100.00) |
Decrease mainly due no borrowing and Lease liability balance as on
31st March 2023 as compared to 31st March 2022. |
6. Operating Profit Margin (%) (EBIT/Total Turnover) |
0.38 |
0.17 |
126.63 |
Significant Increase mainly due to earning before Interest & Tax
for 2022- 23 was Rs.2967 lakh as compared to Rs. 556 lakh in the previous year. |
7. Net Profit Margin (%) (PAT/ Total Turnover) |
0.28 |
0.12 |
128.73 |
Significant Increase mainly due to Profit after Tax for 2022-23 was
Rs. 2219 lakh as compared to Rs.412 lakh in the previous year. |
8. Return on Net Worth : PAT/Net Woth |
0.40 |
0.10 |
292.83 |
Significant Increase mainly due to Profit after Tax for 2022-23 was
Rs. 2219 lakh as compared toRs.412 lakh in the previous year. Net Worth also increased by
34%. |
J. Cautionary Statement
The Management Discussion and Analysis Report includes statements regarding
projections, estimates, and expectations, all of which have been made in good faith.
However, it is important to acknowledge that numerous unforeseen factors may arise and
impact the actual results, potentially differing from the Directors envisioned future
performance and outlook.
The industry information presented in this report is derived from various published and
unpublished reports. While efforts have been made to ensure accuracy, reliability, and
completeness, it is important to note that these factors cannot be fully guaranteed.
It is crucial for stakeholders to consider these uncertainties and the potential impact
of unforeseen events when interpreting the statements and information provided in this
report. The Company remains committed to transparency and will provide updates as
necessary to reflect any significant changes in the future performance and outlook.
For & On behalf of the Board of Directors |
NICCO PARKS & RESORTS LIMITED |
| Registered Office: |
S/d |
S/d |
| ‘Jheel Meel, |
Anand Chatrath |
Abhijit Dutta |
| Sector IV, Salt Lake City, |
Independent Director |
Managing Director & CEO |
| Kolkata – 700 106 |
DIN:-00234885 |
DIN:-00233374 |
| Date: 29.05.2023 |
|
|
+91-9892691696
