Brands
Q3-2016: Weather affects Wonderla footfalls, but revenue rises
BENGALURU: South Indian amusement park and resorts player Wonderla Holidays Limited (Wonderla) reported 11.7 per cent lower footfalls in the quarter ended 31 December, 2015 (Q3-2016, current quarter) because of the bad weather across Southern India that had also caused floods and destruction in Chennai. The company reported 5.66 lakh footfalls in the current quarter as compared to 6.41 lakh footfalls in Q3-2015. Despite this setback, the company has posted 6.5 per cent year on year (YoY) growth in total income from operations (TIO) for the current quarter at Rs 50.43 crore as compared to Rs 47.36 crore and a 16.7 per cent quarter and quarter (QoQ) growth as compared to Rs 43.23 crore. Amongst Wonderla’s peers are Adlabs, Ramoji Film City and Essel World
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Increase in revenue can be attributed to the higher average ticket and non-ticket revenues per visitor, says the company. Net average ticket revenue per customer in Q3-2016 increased 19 per cent to Rs 686.90 as compared to Rs 579.50 in Q3-2015. Average non-ticket revenue per customer increased 33 per cent to Rs 230.40 from Rs 173.70 in Q3-2015.
Company speak
“We are generally satisfied with the performance during the third quarter of the ongoing financial year. We have recorded growth in revenue in spite of a 11.7 per cent decline in the footfalls at the parks during the quarter, mainly due to unfavourable weather conditions during November. We are seeing a rebound in footfalls, and are optimistic about growth in footfall in the coming quarters for both existing amusement parks. We are also eagerly waiting to launch our brand new amusement park in Hyderabad to public within a couple of months,” said Wonderla managing director Arun K Chittilappilly.
Revenue streams
The company has three amusement parks in Bengaluru, Kochi and Hyderabad and a resort in Bengaluru. A large part of its revenues come from its Bengaluru operations.
It reports two revenue streams – from sales of services and from sales of products.
Revenue from sales of services in Q3-2016 increased 3.4 per cent YoY to Rs 42.64 crore (84.6 per cent of TIO) from Rs 41.24 crore (87.1 per cent of TIO) in Q3-2015 and increased 15.3 per cent QoQ from Rs 36.98 crore (85.5 per cent of TIO).
Revenue from sales of products increased 27.3 per cent YoY to Rs 7.79 crore (15.4 per cent of TIO) from Rs 6.12 crore (12.9 per cent of TIO) and increased 24.6 per cent QoQ as compared to Rs 6.35 crore (14.5 per cent of TIO)
Let us look at the other numbers reported by Wonderla
Wonderla Profit after Tax (PAT) in Q3-2016 declined four per cent YoY to Rs 12.26 crore (24.3 per cent margin) as compared to Rs 12.77 crore (27 per cent margin), but was 2.6 per cent higher QoQ as compared to Rs 11.95 crore (27.6 per cent margin) in the immediate trailing quarter.
EBIDTA in the current quarter declined 12.9 per cent YoY to Rs 18.21 crore (36.1 per cent margin) as compared to Rs 20.89 crore (44.1 per cent margin), but increased 23.8 per cent QoQ from Rs 14.71 crore (34 per cent margin) in Q2-2016.
Total Expense in Q3-2016 increased 14.9 per cent YoY to Rs 35.04 crore (69.5 per cent of TIO) from Rs 30.51 crore (64.4 per cent of TIO) and increased eight per cent QoQ as compared to Rs 32.45 crore (75.1 per cent of TIO).
Employee Benefit Expense in Q3-2016 increased 25.7 per cent to Rs 8.15 crore (16.2 per cent of TIO) as compared to Rs 6.49 crore (13.7 per cent of TIO) in Q3-2015 and increased 7.7 per cent as compared to Rs 7.57 crore (17.5 per cent of TIO) in Q2-2016.
The company spent 7.1 per cent less YoY towards marketing and advertising expenses in the current quarter at Rs 5.32 crore (10.6 per cent of TIO) as compared to Rs 5.73 crore (12.1 per cent of TIO), but spent 51.9 per cent more than the Rs 3.51 crore (8.1 per cent of TIO) in Q2-2016.
Brands
Godrej clarifies ‘GI’ identifier after logo similarity debate
Says GI is not a logo, will not replace Godrej signature across products.
MUMBAI: In a branding storm where shapes did the talking, Godrej is now spelling things out. Godrej Industries Group (GIG) has issued a clarification on its newly introduced ‘GI’ identifier, addressing questions around its purpose and design following a wave of online criticism. At the centre of the debate were two concerns: whether the new mark replaces the long-standing Godrej logo, and whether its geometric design mirrors other corporate identities.
The company has drawn a clear line. The Godrej signature logo, it said, remains unchanged and continues to be the sole logo across all consumer-facing products and services. The ‘GI’ mark, by contrast, is not a logo but a corporate group identifier intended for use alongside the Godrej signature or company name, and aimed at stakeholders such as investors, media and talent rather than consumers.
The need for such a distinction stems from the 2024 restructuring of the broader Godrej Group into two separate business entities. With both continuing to operate under the same Godrej name and signature, the identifier is positioned as a way to differentiate the Godrej Industries Group at a corporate level.
The rollout, however, triggered a broader conversation on design originality. Critics pointed to similarities between the GI mark’s geometric composition and logos used by companies globally, raising questions about distinctiveness.
Responding to this, GIG said its intellectual property and legal review found that such overlaps are common in minimalist, geometry-led design systems. Basic forms such as circles and rectangles appear across dozens of brand identities worldwide, the company noted.
It added that the identifier emerged from an extensive design process and was chosen for its simplicity, allowing it to sit alongside the Godrej signature without competing visually. While acknowledging that elemental shapes may appear less distinctive in isolation, the group emphasised that the mark is part of a broader identity system that includes a custom typeface, sonic branding and other proprietary elements.
Following legal and ethical assessments, the company said it found no impediment to using the identifier, reiterating that the GI mark is a corporate tool not a consumer-facing symbol.
In short, the logo isn’t changing but the conversation around it certainly has.
