Mahindra Holidays & Resorts India Ltd

MHRIL

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Market Cap

₹ 6,277 Cr

P/E

47.00

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Mahindra Holidays & Resorts India Limited (MHRIL), a part of the Mahindra Group, provides family vacations primarily through vacation ownership memberships across 125 resorts.

The company has maintained a healthy occupancy rate of 73.4% despite weather-related challenges, showing resilience in operational performance.

In FY '25, they added seven new resorts, demonstrating robust expansion efforts that align with their strategic goal of 10,000 keys by FY '30.

The company raised its Average Unit Rate (AUR) to INR 9.3 lakhs, showcasing selective member acquisitions and strong value delivery through enhanced member experiences.

Continued focus on digital tools such as DigiSell and AI-based referral engines aids in improving sales processes and member retention.

Sector

Hotels & Restaurants

Industry

Hotels - Resorts

Market Cap

6,277 Cr

Volatility

Moderate Risk

P/E Ratio

47.0

Industry P/E

37.1

PEG Ratio

0.6

P/B Ratio

—

52W High

391.85

52W Low

241.00

Sales CAGR

2.82%

13.38%

7.46%

10Y

4.39%

Profit CAGR

8.52%

9.84%

—

10Y

6.52%

ROE

TTM

18.25%

20.82%

19.92%

10Y

16.33%

ROCE

TTM

4.07%

3.88%

3.20%

10Y

3.63%

Technicals

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Forecasts

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Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MHRIL	311.05	6,277 Cr	47.00	0.00	0.00	18.25	4.07	1.21
SAMHI	179.60	3,984 Cr	30.02	2.23	0.00	7.44	9.61	4.88
BRIGHOTEL	72.50	2,755 Cr	78.83	3.03	0.00	3.82	9.64	2.89
PHOENIXTN	135.00	277 Cr	67.16	0.75	0.00	1.13	0.90	7.36
CCHHL	15.59	254 Cr	30.51	0.82	0.00	2.64	2.61	1.45
INTELLCAP	14.39	195 Cr	—	3.19	0.00	-0.75	5.04	-0.40
BHARATAGRI	30.75	163 Cr	—	3.17	0.00	-15.65	-6.08	-8.64

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	614	655	635	800	653	671	678	779	701	717
Expenses	530	519	530	612	547	547	533	574	579	565
Operating Profit	84	136	105	188	105	123	146	204	122	153
OPM %	13.66	20.76	16.56	23.47	16.14	18.40	21.47	26.24	17.46	21.29
Other Income	38	16	32	30	33	35	32	28	38	31
Interest	32	33	45	22	35	38	37	38	39	48
Depreciation	81	84	86	86	89	92	93	92	96	101
Profit Before Tax	8.71	35	6.30	109	14	28	48	102	26	36
Tax %	89.78	39.46	-67.14	23.74	56.62	59.14	26.15	28.77	72.73	52.30
Net Profit	0.89	21	11	83	6.09	11	35	73	7.17	17
EPS in Rs	0.01	1.06	0.58	4.09	0.29	0.68	1.73	3.62	0.39	0.89

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,267	2,317	2,239	2,372	1,730	2,013	2,517	2,705	2,781	2,829
Expenses	1,945	1,970	2,073	2,003	1,499	1,698	2,045	2,191	2,202	2,233
Operating Profit	322	347	166	369	231	315	472	514	579	596
OPM %	14.20	14.97	7.42	15.54	13.37	15.65	18.74	19.00	20.81	21.06
Other Income	28	33	57	59	117	166	108	114	128	133
Interest	20	64	24	79	82	99	119	132	148	152
Depreciation	106	100	101	247	264	271	290	337	366	373
Profit Before Tax	224	217	98	101	2.47	111	171	160	193	205
Tax %	35.06	38.69	39.24	232.51	665.97	38.82	33.30	27.25	34.58	37.97
Net Profit	146	133	60	-134	-14	68	114	116	126	127
EPS in Rs	—	—	3.01	-6.56	-0.90	3.70	5.70	5.74	6.32	6.63
Dividend Payout %	44.64	40.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	88,05,842	89	133	133	133	133	200	201	202	202
Reserves	418	509	579	149	-87	-48	50	189	323	579
Borrowings	643	712	738	585	1,900	2,487	2,567	2,623	2,738	3,131
Other Liabilities	-88,03,274	2,651	3,055	6,416	6,940	5,950	6,030	6,305	6,584	6,703
Total Liabilities	3,629	3,960	4,505	7,283	8,886	8,521	8,846	9,317	9,846	10,614
Fixed Assets	1,339	1,273	1,459	2,439	3,862	3,971	4,186	4,418	4,589	5,003
CWIP	75	171	112	227	250	124	122	182	244	407
Investments	61	104	453	323	406	77	306	573	675	753
Other Assets	2,153	2,413	2,481	4,293	4,367	4,349	4,232	4,144	4,339	4,451
Total Assets	3,629	3,960	4,505	7,283	8,886	8,521	8,846	9,317	9,846	10,614

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	242	276	551	263	561	382	498	681	624	621
Cash from Investing Activity	-379	-182	-547	-238	-284	-237	-257	-210	-449	-401
Cash from Financing Activity	274	-5.73	-144	-21	-254	-154	-217	-459	-190	-285
Net Cash Flow	137	88	-140	4.89	22	-8.27	24	12	-14	-64

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	67.25%	67.18%	67.11%	66.95%	66.91%	66.90%	66.90%	66.89%	66.87%	66.87%	66.87%	66.87%
FIIs	5.00%	5.13%	5.25%	5.19%	5.23%	5.26%	5.34%	5.32%	5.38%	5.37%	5.43%	5.45%
DIIs	8.19%	8.16%	8.32%	10.43%	10.61%	10.73%	10.47%	10.26%	10.21%	10.09%	10.20%	10.03%
Public	19.56%	19.52%	19.32%	17.43%	17.25%	17.11%	17.29%	17.53%	17.53%	17.67%	17.50%	17.65%
Total Shareholders	75,450	74,853	77,091	70,620	75,934	76,636	79,175	82,831	84,080	84,856	88,115	88,964

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Nov 19, 2025	Bharat sundaresan	Insider - Designated Person	Acquisition	10.00	0.01 Cr	10,748	—
Nov 19, 2025	Manish goel	Insider - Designated Person	Acquisition	10.00	0.00 Cr	4,082	—
Nov 19, 2025	Vimal agarwal	Insider - KMP	Acquisition	10.00	0.00 Cr	4,518	—
Aug 08, 2025	Dhanraj mulki	Insider - KMP	Disposal	354.26	0.35 Cr	10,000	—
May 21, 2025	Rohit malik	Insider - Designated Person	Disposal	344.85	0.12 Cr	3,500	—
May 14, 2025	Priyanka gidwani	Insider - Designated Person	Disposal	318.97	0.16 Cr	4,950	0.00264
Mar 10, 2025	Priyanka gidwani	Insider - Designated Person	Disposal	331.46	0.18 Cr	5,500	—
Feb 13, 2025	Pratik mazumder	Insider - Designated Person	Acquisition	10.00	0.01 Cr	5,908	0.00
Feb 13, 2025	Rohit malik	Insider - Designated Person	Acquisition	10.00	0.00 Cr	3,333	—
Dec 24, 2024	Julian ayers	Insider - Designated Person	Disposal	372.85	0.18 Cr	4,800	0.008

Projection

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Actions

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Announcements

Last 7 days

Newest

Sentiment

ESOP Allocation

20 hours ago

Allotment of ESOP Shares by Mahindra Holidays

Mahindra Holidays & Resorts India Limited has allotted 3000 equity shares under its Employees Stock Options Scheme - 2020, increasing its paid-up equity share capital.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	614	655	635	800	653	671	678	779	701	717
Expenses	530	519	530	612	547	547	533	574	579	565
Operating Profit	84	136	105	188	105	123	146	204	122	153
OPM %	13.66	20.76	16.56	23.47	16.14	18.40	21.47	26.24	17.46	21.29
Other Income	38	16	32	30	33	35	32	28	38	31
Interest	32	33	45	22	35	38	37	38	39	48
Depreciation	81	84	86	86	89	92	93	92	96	101
Profit Before Tax	8.71	35	6.30	109	14	28	48	102	26	36
Tax %	89.78	39.46	-67.14	23.74	56.62	59.14	26.15	28.77	72.73	52.30
Net Profit	0.89	21	11	83	6.09	11	35	73	7.17	17
EPS in Rs	0.01	1.06	0.58	4.09	0.29	0.68	1.73	3.62	0.39	0.89

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,267	2,317	2,239	2,372	1,730	2,013	2,517	2,705	2,781	2,829
Expenses	1,945	1,970	2,073	2,003	1,499	1,698	2,045	2,191	2,202	2,233
Operating Profit	322	347	166	369	231	315	472	514	579	596
OPM %	14.20	14.97	7.42	15.54	13.37	15.65	18.74	19.00	20.81	21.06
Other Income	28	33	57	59	117	166	108	114	128	133
Interest	20	64	24	79	82	99	119	132	148	152
Depreciation	106	100	101	247	264	271	290	337	366	373
Profit Before Tax	224	217	98	101	2.47	111	171	160	193	205
Tax %	35.06	38.69	39.24	232.51	665.97	38.82	33.30	27.25	34.58	37.97
Net Profit	146	133	60	-134	-14	68	114	116	126	127
EPS in Rs	—	—	3.01	-6.56	-0.90	3.70	5.70	5.74	6.32	6.63
Dividend Payout %	44.64	40.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	88,05,842	89	133	133	133	133	200	201	202	202
Reserves	418	509	579	149	-87	-48	50	189	323	579
Borrowings	643	712	738	585	1,900	2,487	2,567	2,623	2,738	3,131
Other Liabilities	-88,03,274	2,651	3,055	6,416	6,940	5,950	6,030	6,305	6,584	6,703
Total Liabilities	3,629	3,960	4,505	7,283	8,886	8,521	8,846	9,317	9,846	10,614
Fixed Assets	1,339	1,273	1,459	2,439	3,862	3,971	4,186	4,418	4,589	5,003
CWIP	75	171	112	227	250	124	122	182	244	407
Investments	61	104	453	323	406	77	306	573	675	753
Other Assets	2,153	2,413	2,481	4,293	4,367	4,349	4,232	4,144	4,339	4,451
Total Assets	3,629	3,960	4,505	7,283	8,886	8,521	8,846	9,317	9,846	10,614

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	242	276	551	263	561	382	498	681	624	621
Cash from Investing Activity	-379	-182	-547	-238	-284	-237	-257	-210	-449	-401
Cash from Financing Activity	274	-5.73	-144	-21	-254	-154	-217	-459	-190	-285
Net Cash Flow	137	88	-140	4.89	22	-8.27	24	12	-14	-64

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MHRIL	311.05	6,277 Cr	47.00	0.00	0.00	18.25	4.07	1.21
SAMHI	179.60	3,984 Cr	30.02	2.23	0.00	7.44	9.61	4.88
BRIGHOTEL	72.50	2,755 Cr	78.83	3.03	0.00	3.82	9.64	2.89
PHOENIXTN	135.00	277 Cr	67.16	0.75	0.00	1.13	0.90	7.36
CCHHL	15.59	254 Cr	30.51	0.82	0.00	2.64	2.61	1.45
INTELLCAP	14.39	195 Cr	—	3.19	0.00	-0.75	5.04	-0.40
BHARATAGRI	30.75	163 Cr	—	3.17	0.00	-15.65	-6.08	-8.64

Oscillators

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Neutral

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Neutral

Bullish

Overall

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Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Mahindra Holidays & Resorts India Limited (MHRIL), a part of the Mahindra Group, provides family vacations primarily through vacation ownership memberships across 125 resorts.

The company has maintained a healthy occupancy rate of 73.4% despite weather-related challenges, showing resilience in operational performance.

In FY '25, they added seven new resorts, demonstrating robust expansion efforts that align with their strategic goal of 10,000 keys by FY '30.

The company raised its Average Unit Rate (AUR) to INR 9.3 lakhs, showcasing selective member acquisitions and strong value delivery through enhanced member experiences.

Continued focus on digital tools such as DigiSell and AI-based referral engines aids in improving sales processes and member retention.

Sector

Hotels & Restaurants

Industry

Hotels - Resorts

Market Cap

6,277 Cr

Volatility

Moderate Risk

P/E Ratio

47.0

Industry P/E

37.1

PEG Ratio

0.6

P/B Ratio

—

52W High

391.85

52W Low

241.00

Sales CAGR

2.82%

13.38%

7.46%

10Y

4.39%

Profit CAGR

8.52%

9.84%

—

10Y

6.52%

ROE

TTM

18.25%

20.82%

19.92%

10Y

16.33%

ROCE

TTM

4.07%

3.88%

3.20%

10Y

3.63%