Key Event
The company has received a communication from the Irrigation Department, Government of Maharashtra, directing it to refrain from utilizing water from local dams. This directive is due to low water levels in the dams in the surrounding region, which is attributed to the prevailing El Nino effect.
Operational Impact
In response, the management will temporarily close the operations of the Imagicaa Water Park located at 30/31, Sangdewadi, Khopoli - Pali Road, Taluka Khalapur, District Raigad – 410 203, Maharashtra. The closure is effective from June 19, 2026, and will continue until the water situation improves.
Financial Impact Assessment
As per the enclosed Annexure A:
- The company is in the process of ascertaining the quantum of loss/damage because the timeline for the closure is unknown.
- The loss could be non-material in the case of an early resumption of operations.
- The company will approach its insurers under the Loss of Profit cover; however, the allowability of a claim under these circumstances is not assured at this juncture.
- The commercial operations of only the Water Park at Khopoli are being disrupted.
Forward-Looking Statement
The company has stated it will closely track developments and provide an update on the resumption of operations for the Khopoli Water Park.