Brands
Adlabs Entertainment takes IPO route to repay partial debt
MUMBAI: Adlabs Entertainment, the company that owns and operates Imagica-The Theme Park has proposed to open a public issue of up to 20,326,227 equity shares of face value of Rs 10 including a share premium per equity share on 10 March.
The company has fixed the price band from Rs 221-230 per equity share. The issue comprises a fresh issue of 18,326,227 equity shares and an offer of sale of 2,000,000 equity shares by Thrill Park Limited. The bid/issue will close on 12 March. The minimum bid lot is 65 equity shares and in multiples of 65 equity shares thereafter.
The issue constitutes 25.44 per cent of the post-issue paid-up equity share capital of the company. Adlabs Entertainment, in consultation with the Global Co-ordinators and Lead Managers, will offer a discount of Rs 12 on the issue price to retail individual bidders.
The issue is being made through the Book Building process wherein at least 75 per cent of the issue shall be allotted on a proportionate basis to Qualified Institutional Buyers (QIB), provided that the company and the selling shareholder may allocate up to 60 per cent of the QIB Potion to Anchor Investors on a discretionary basis. Anchor investors can bid on Anchor Investor Bidding Date, that is 9 March.
The money raised through the Initial Public Offering (IPO) will be used for partial repayment/pre-payment of loans. As per the company, it currently is under a debt of Rs 1100 crore, and hopes to repay close to Rs 330-350 crore through the IPO.
Talking about further plans, Adlabs Entertainment chairman and managing director Manmohan Shetty said, “While the money raised through the IPO will be used for repayment of partial debt. We plan to increase our employee strength from the current 1500 to 2000 by this year end. Not only this, we are planning to open another Imagica in South or North. But, the money raised right now will not be used forfuture plans.”
For the six months ended 30 September 2014, the company’s total income and loss after tax was Rs 73.325 crore and Rs 53.529 crore respectively. Adlab’s revenue from sale of admission tickets, from the F&B operations and retail and merchandise operations for six months ended 30 September, 2014 was Rs 55.382 crore, Rs 11.980 crore and 3.886 crore respectively.
The company will soon be launching its hotel chain as well. The first phase of the proposed 287 key hotel, to be called Novotel Imagica Khopoli, comprising 116 keys, is expected to be completed by March, 2015.
Brands
Kwality Wall’s reports standalone losses following strategic HUL demerger
Ice cream major faces Rs 64 crore Ebitda loss amid commodity inflation and muted Q3 sales
MUMBAI: Kwality Wall’s (India) Limited (KWIL) has released its first set of financial results as a standalone entity, revealing a challenging start to its independent journey. Following its successful demerger from Hindustan Unilever Limited (HUL) on 1st December 2025 and its subsequent listing on 16th February 2026, the company is navigating a transition period marked by structural changes and high input costs.
For the quarter ended 31st December 2025, the company reported revenue of Rs 222 crores. Despite the revenue base, the bottom line was impacted by several factors, resulting in an Ebitda loss of Rs 64.2 crores. When calculated on a Pre-IND AS 116 basis, the Ebitda loss stood at Rs 83.8 crores.
Organic Sales Growth (OSG) declined by 6.5 per cent year-on-year during the quarter. Volume growth, however, saw a marginal increase of 1.2 per cent. The company reported a gross margin of 41.5 per cent. Additionally, exceptional expenses amounting to Rs 94 crores were recorded, primarily linked to non-recurring costs during the transition phase.
Performance across portfolios and channels was mixed. Within the impulse portfolio, brands such as Magnum and Cornetto recorded mid-single digit volume growth, indicating steady demand in on-the-go consumption. However, the in-home portfolio, which includes take-home packs, experienced muted consumption. The company is planning a relaunch of this category with improved offerings ahead of the 2026 season.
Quick commerce (Q-Com) continued to emerge as a strong growth driver, delivering robust double-digit growth during the quarter. Meanwhile, the company also expanded its physical distribution network by increasing the number of company-owned cabinets across markets.
Margin pressure during the quarter was driven by a combination of one-off factors and broader cost inflation. Gross margins were impacted by around 600 basis points due to trade investments made for stock liquidation. Additionally, cocoa price inflation contributed to another 400 basis points of pressure on margins.
Deputy managing director Chitrank Goel attributed the muted performance partly to prolonged monsoons and transitional challenges linked to the GST framework. Operating expenses also increased as the company invested in establishing its standalone supply chain, operational systems and corporate infrastructure following the demerger.
Looking ahead, the management remains focused on a volume-driven growth strategy. To restore profitability, the company has initiated a cost productivity programme aimed at reducing non-consumer-facing costs. It is also working on building regional manufacturing networks to optimise logistics expenses and improve operational efficiency.
The commodity outlook for the near term remains mixed. Dairy prices are expected to remain firm due to tight supply conditions and rising fodder costs. Sugar prices may also move higher following increases in the Minimum Selling Price (MSP). While cocoa prices have moderated recently, currency depreciation has offset some of the potential cost relief for the company.
