Jungle Camps India Limited reported its unaudited financial results for the first quarter ended June 30, 2026, with total income standing at ₹23.28 crore. The company’s board approved the figures on August 14, 2026, ahead of a conference call scheduled for August 18, 2026.

The hospitality firm recorded an EBITDA of ₹7.48 crore, translating to a margin of 30%. Profit after tax (PAT) came in at ₹4.22 crore. These results reflect the performance of its operational portfolio, which includes eight properties across Madhya Pradesh, Maharashtra, Rajasthan, and Uttarakhand.

Financial Performance

The company’s key financial metrics for Q1FY27 highlight strong operational efficiency despite a modest occupancy rate.

The flagship Pench Jungle Camp contributed significantly to these numbers, reporting an ADR of ₹9,759 with 1,538 rooms occupied during the quarter.

What the Numbers Show

The company disclosed an exceptional expense of ₹0.52 crore in the quarter. This amount relates to the write-off of project-related expenditure for the Parsili project, which was cancelled due to regulatory and environmental constraints. The expense is classified as non-recurring, meaning it does not reflect ongoing operational costs. Investors should note that this one-time charge impacts the bottom line but is separate from core business profitability.

Growth Pipeline and Strategy

Jungle Camps continues to expand its footprint through a mix of owned and managed assets. The company currently operates eight properties with 137 installed room keys. Its pipeline includes four additional projects:

• Sheopur Fort Hotel: A 60-key heritage hotel under renovation on a 90-year lease from the Madhya Pradesh Tourism Board. Funding is sourced from IPO proceeds and HDFC Bank borrowings.
• Holiday Inn Express Partnership: A new property in partnership with IHG, featuring 105 rooms and a 160-pax restaurant. Operations are targeted for FY27-28.
• Kukru Jungle Camp: A proposed wildlife resort near Melghat Tiger Reserve, funded entirely through internal accruals.
• Advanced Discussions: Talks are ongoing for potential leases or management contracts in Panna, Satpura, Sariska, and Jawai. The company also holds land at Ratapani Tiger Reserve, where construction is expected to commence shortly after permissions are obtained.

IPO Proceeds Utilization

As of June 30, 2026, the company has utilized funds from its ₹29.42 crore IPO issue as follows:

• ₹11.5 crore: Investment in subsidiary Madhuvan Hospitality Private Limited for the Mathura Hotel Project.
• ₹7.0 crore: Reallocation from Sanjay Dogri National Park to Sheopur Heritage.
• ₹3.5 crore: Renovation of Pench Jungle Camp.
• ₹7.42 crore: General purpose and issue expenses.

Jungle Camps reported a sharp decline in profitability for the first quarter of FY26, as operational headwinds and exceptional items weighed heavily on the bottom line. The company’s Board of Directors, in a meeting held on August 14, 2026, approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

Consolidated net profit after tax and minority interest fell 64% year-on-year (YoY) to ₹41.86 lakh, compared to ₹103.13 lakh in Q1FY25. On a sequential basis, profits dropped significantly from ₹228.17 lakh in Q4FY25. Standalone performance was more subdued, with net profit plummeting 96.8% YoY to ₹1.60 lakh from ₹50.36 lakh in the corresponding period last year.

Revenue Growth Amidst Margin Pressure

Despite the profit contraction, top-line growth remained positive. Consolidated revenue from operations rose 11.5% YoY to ₹596.84 lakh, up from ₹535.08 lakh in Q1FY25. Standalone revenue from operations also saw a modest increase of 1.7% YoY, reaching ₹252.15 lakh from ₹248.02 lakh.

However, this revenue growth was offset by rising expenses. Total consolidated expenses increased 19.9% YoY to ₹509.12 lakh, outpacing revenue growth. Key cost drivers included a rise in food and beverages consumed expenses to ₹101.74 lakh (from ₹74.83 lakh) and employee benefit expenses climbing to ₹148.06 lakh (from ₹126.77 lakh). Depreciation and amortization expenses also surged 42.2% YoY to ₹51.73 lakh.

What the Numbers Show

The divergence between revenue growth and profit contraction highlights margin compression. While revenue grew 11.5%, total expenses grew nearly twice as fast at 19.2%. Furthermore, the consolidated operating margin contracted to 0.15% in Q1FY26, down from 0.21% in Q1FY25. This suggests that current operational efficiencies are not keeping pace with volume or pricing gains, leading to thinner margins despite higher sales.

Exceptional Items and Legal Developments

A material exceptional item impacted the quarter’s results. The company recorded an exceptional expense of ₹51.79 lakh, representing a write-off of pre-operative and project-related expenditures for a proposed resort in Sidhi, Madhya Pradesh. The Madhya Pradesh Tourism Board cancelled the lease deed due to non-approval from the Forest Department and State Wildlife Board, rendering the land unsuitable for development.

Additionally, the company provided updates on two key legal matters:

• Land Dispute Recovery: In a dispute over land purchased near Panna Tiger Reserve for ₹1.88 crore, the company recovered ₹1.34 crore following court-directed freezing of the seller’s bank accounts. The balance remains classified as a current receivable, contingent on litigation outcomes.
• Refund Entitlement: Following the cancellation of the Sidhi lease, the company is entitled to a refund of ₹1.22 crore upfront premium and ₹50 lakh performance security bank guarantee from the Madhya Pradesh Tourism Board.

Balance Sheet and Liquidity

The company maintains a strong liquidity position. Consolidated cash and cash equivalents stood at ₹1,667.36 lakh as of June 30, 2026, though this represents a decline from ₹1,887.34 lakh at the end of FY25. Unutilized IPO proceeds worth ₹971 lakh remain invested in fixed deposits with HDFC Bank Limited.

Debt levels remain low, with a consolidated debt-equity ratio of 0.11, slightly up from 0.10 in Q4FY25. The interest service coverage ratio stands at 10.11, indicating adequate ability to meet interest obligations from operating earnings.