Mahindra Holidays & Resorts India Ltd.- Standalone PAT up 14% YoY, Consolidated Total Income of Rs 706 Cr (+5% YoY)
Mahindra Holidays & Resorts India Ltd. (‘Company’), India’s leading leisure hospitality provider, reported its standalone and consolidated financials for the second quarter ending 30th Sept 2024.
Operational Highlights (Standalone)
- Member additions at 3,583; cumulative members base of 3,02,274 members
- Average Unit Realisation (AUR)1 at Rs 5.04 L (+28% YoY)
- Membership Sales Value1 at 180 Cr
- 3 new managed resorts added to the network- Bharatpur (Rajasthan), Pavagadh, (Gujarat) and Mysuru (Karnataka)
- Inventory expanded by 219 keys to 5492 keys
- Resort performance stable YoY with Occupancy at 3% despite disruptions due to inclement weather in certain locations
- Tripadvisor Travellers’ Choice Award 2024 for being in the Top 10% worldwide received for Barbeque Bay (Saj Mahabaleshwar & Madikeri), Ascot (Ooty), Seashellz (Puducherry)
- New 5-year tenure product GoZest-5 launched
Note: 1. Membership value includes Upgrades
Standalone Financial Highlights
- Total Income at 371 Cr (+12% YoY)
- EBITDA at 120 Cr (+13% YoY); EBITDA Margin at 17.2% (+30 bps YoY)
- PAT at 47 Cr (+14% YoY); PAT Margin at 12.7% (+30 bps YoY)
- Deferred Revenue stands at Rs. 5,685 Cr
- Cash Position at Rs. 1452 Cr as on 30th Sept’24
Consolidated Financial Highlights
- Total Income at 706 Cr (+5% YoY)
- EBITDA at 159 Cr (+4% YoY); EBITDA Margin at 22.5%
- PAT at 11.5 Cr (PAT excluding forex impact at Rs. 27 Cr, +36% YoY)
Commenting on the performance, Manoj Bhat, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd., said, ” In line with our aspiration of 10,000 keys by FY30, we had a strong inventory addition of 219 keys this quarter. We have also added three managed resorts at Bharatpur (Rajasthan), Pavagadh (Gujarat) and Mysuru (Karnataka). Our focus on premiumization continues with higher sales realization. Our margins expanded & standalone profit grew by 14% YoY.”
Commenting on European operations, he added, “Our European Subsidiary, HCR (Holiday Club Resorts), has delivered improved operating performance; however, the macroeconomic conditions continue to impact overall performance.”
MHRIL Standalone (Under Indian Accounting Standards)
| Particulars (In Rs Cr) | Q2 FY25 | Q2 FY24 |
| Total Income | 371.0 | 332.6 |
| EBITDA | 119.5 | 105.4 |
| PBT | 63.7 | 56.2 |
| PAT | 47.1 | 41.4 |
Holiday Club Resorts, Oy (Under Finnish GAAP)
| Particulars (In Euro Mn) | Q2 FY25 | Q2 FY24 |
| Total Income | 34.2 | 36.6 |
| EBITDA | 1.8 | 1.6 |
| PBT | 0.1 | 0.3 |
| PAT | 0.1 | 0.3 |
MHRIL Consolidated (Under Indian Accounting Standards)
| Particulars (In Rs Cr) | Q2 FY25 | Q2 FY24 |
| Total Income | 706.2 | 672.2 |
| EBITDA | 158.8 | 152.9 |
| PBT | 28.1 | 35.4 |
| PAT | 11.5 | 21.4 |