Mahindra Holidays & Resorts India Ltd

Mahindra Holidays & Resorts India Ltd

₹ 484 0.58%
24 Jun - close price
About

Mahindra Holidays & Resorts India Ltd. (MHRIL), a part of the Leisure and Hospitality sector of the Mahindra Group offers family holidays primarily through vacation ownership memberships. Started in 1996, the company's flagship brand ‘Club Mahindra’ has over 250,000 members. [1]The Company is the largest Vacation Ownership company
outside the US and is 6th largest globally[2]

Key Points

Brand Reputation
Company is the No. 1 leisure hospitality player in the country.[1]

  • Market Cap 9,766 Cr.
  • Current Price 484
  • High / Low 505 / 292
  • Stock P/E 84.5
  • Book Value 26.0
  • Dividend Yield 0.00 %
  • ROCE 9.27 %
  • ROE 25.3 %
  • Face Value 10.0

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.4%

Cons

  • Stock is trading at 18.6 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost
  • Working capital days have increased from 124 days to 174 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Hotels & Restaurants Industry: Hotels

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
465 371 546 553 543 605 598 602 712 614 655 635 800
421 343 428 472 455 505 482 511 547 530 520 530 613
Operating Profit 44 28 118 81 88 100 116 91 165 84 136 105 187
OPM % 10% 8% 22% 15% 16% 16% 19% 15% 23% 14% 21% 17% 23%
31 47 47 31 40 32 29 23 24 38 17 32 30
Interest 18 28 21 24 27 23 23 40 33 32 33 45 22
Depreciation 68 67 67 68 70 69 70 72 79 81 84 86 86
Profit before tax -11 -19 78 20 32 40 53 1 77 9 35 6 109
Tax % 10% -10% 24% 33% 50% 25% 21% 1,130% 27% 90% 39% -67% 24%
-10 -21 60 13 16 30 41 -14 56 1 21 11 83
EPS in Rs -0.51 -1.07 2.94 0.68 0.81 1.48 2.03 -0.59 2.80 0.01 1.06 0.58 4.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
728 676 812 1,602 2,267 2,317 2,239 2,372 1,730 2,013 2,517 2,705
561 509 623 1,329 1,932 1,948 2,055 1,996 1,489 1,691 2,036 2,191
Operating Profit 167 167 189 273 335 369 184 375 241 323 481 513
OPM % 23% 25% 23% 17% 15% 16% 8% 16% 14% 16% 19% 19%
5 14 -4 -4 27 34 55 58 116 163 106 115
Interest 2 8 11 25 32 86 40 85 91 105 126 132
Depreciation 27 39 66 98 106 100 101 247 264 271 290 337
Profit before tax 143 134 107 146 224 217 98 101 2 111 171 160
Tax % 36% 35% 25% 38% 35% 39% 39% 232% 667% 39% 33% 27%
91 87 81 90 146 133 60 -134 -14 68 114 116
EPS in Rs 4.77 4.36 4.07 4.34 7.44 6.61 3.02 -6.59 -0.65 3.37 5.72 5.72
Dividend Payout % 39% 40% 43% 51% 30% 40% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: 15%
5 Years: 4%
3 Years: 16%
TTM: 7%
Compounded Profit Growth
10 Years: 3%
5 Years: 14%
3 Years: 100%
TTM: 1%
Stock Price CAGR
10 Years: 13%
5 Years: 25%
3 Years: 42%
1 Year: 64%
Return on Equity
10 Years: 16%
5 Years: 12%
3 Years: 31%
Last Year: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 84 88 88 88 88 133 133 133 133 200 201 202
Reserves 529 673 637 418 509 579 149 -87 -48 50 189 323
7 3 124 705 774 810 830 2,434 2,487 2,567 2,623 2,738
1,623 1,822 1,981 2,415 2,587 2,984 5,932 6,167 5,748 5,805 6,085 6,584
Total Liabilities 2,243 2,586 2,830 3,625 3,959 4,505 7,044 8,648 8,319 8,621 9,098 9,846
762 991 1,032 1,339 1,273 1,459 2,439 3,862 3,971 4,186 4,418 4,637
CWIP 259 78 95 75 171 112 227 250 124 122 182 196
Investments 10 13 143 61 104 453 324 406 77 306 573 675
1,212 1,504 1,561 2,150 2,411 2,481 4,055 4,129 4,147 4,007 3,924 4,339
Total Assets 2,243 2,586 2,830 3,625 3,959 4,505 7,044 8,648 8,319 8,621 9,098 9,846

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
219 33 201 242 276 551 263 561 382 498 681 624
-263 -88 -308 -379 -182 -547 -239 -281 -235 -257 -209 -449
-41 60 78 274 -6 -144 -21 -254 -154 -217 -459 -190
Net Cash Flow -86 5 -30 137 88 -140 4 26 -6 23 14 -14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 315 456 392 213 164 169 181 192 204 175 148 149
Inventory Days 703 411 540 499 418 735 746 592
Days Payable 478 245 271 250 234 409 480 413
Cash Conversion Cycle 315 456 392 438 330 438 431 376 530 441 327 149
Working Capital Days 188 294 233 153 126 119 125 150 220 94 103 174
ROCE % 24% 19% 17% 16% 19% 20% 10% 10% 4% 8% 10%

Shareholding Pattern

Numbers in percentages

8 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
67.29% 67.27% 67.22% 67.22% 67.20% 67.08% 67.03% 67.00% 66.95% 66.81% 66.77% 66.77%
4.45% 5.32% 5.18% 4.96% 4.91% 5.07% 4.98% 5.12% 5.24% 5.19% 5.23% 5.26%
11.92% 11.15% 10.48% 9.71% 9.66% 8.31% 8.16% 8.13% 8.29% 10.41% 10.59% 10.70%
15.87% 15.84% 16.73% 17.74% 17.86% 19.22% 19.49% 19.48% 19.27% 17.39% 17.21% 17.07%
0.47% 0.43% 0.38% 0.37% 0.36% 0.32% 0.32% 0.28% 0.25% 0.21% 0.21% 0.21%
No. of Shareholders 50,17459,90162,11865,30068,99874,77375,45074,85377,09170,62075,93476,636

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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