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Mahindra Holidays & Resorts India Limited strategy deck summary

NSE: MHRIL · BSE: 533088

Strategy deck of 20 Nov 2025, summarised by AI from the filing.

Mahindra Holidays targets 3X keys, 3X revenue and 4X PAT this decade, with 10k keys by FY30.

Key takeaways

  1. Targets Management targets 3X keys, 3X revenue and 4X PAT in this decade for the India business.
  2. Keys Management targets 10k keys by FY30 for the core and 2k keys by FY30 for Mahindra Signature Resorts.
  3. Keystone Keystone simplifies plans from 23 to 12 and seasons from 4 to 3.
  4. Opportunity The branded leisure market is seen at $4 billion by FY30 with only 14% branded keys.
  5. Risk Forward looking statements involve known and unknown risks and uncertainties.

Original filing on BSE

Mahindra Holidays & Resorts India Limited Q1 FY27 results

As filed: Revenue ₹733 cr (+5% year on year), EBITDA ₹113 cr (−8% year on year), PAT −₹8.6 cr (−222% year on year), EBITDA margin 15.4% (−215 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹820 cr (+5% year on year), EBITDA ₹197 cr (−3% year on year), PAT ₹41.5 cr (−43% year on year), EBITDA margin 24.0% (−215 bps). Score 21 of 100, Below trend. Revenue growth was in line with the company's own trend; EBITDA growth was well below it; profit growth was below it. EBITDA margin fell 215 bps year on year. Other income 36% of PBT. Tax rate 36%. Share price after the results: −15.3% in 30 days (Nifty 500: +1.8%).
  • Q3 FY26: Revenue ₹753 cr (+11% year on year), EBITDA ₹144 cr (−1% year on year), PAT ₹1.4 cr (−54% year on year), EBITDA margin 19.2% (−238 bps). Score 22 of 100, Below trend. Revenue growth was well above the company's own trend; EBITDA and profit before exceptional items growth were well below it. EBITDA margin fell 238 bps year on year. Other income 265% of PBT. Tax rate 90%. Consolidated profit -96% but standalone +8%. Profit fell 38% from last quarter. Share price after the results: −2.8% in 29 days (Nifty 500: +0.4%).
  • Q2 FY26: Revenue ₹717 cr (+7% year on year), EBITDA ₹153 cr (+23% year on year), PAT ₹17.0 cr (+55% year on year), EBITDA margin 21.3% (+286 bps). Score 46 of 100, In line with trend. Revenue and profit growth were in line with the company's own trend; EBITDA growth was above it. EBITDA margin rose 286 bps year on year. Other income 89% of PBT. Tax rate 50%. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Share price after the results: −3.4% in 28 days (Nifty 500: +0.9%).
  • Q1 FY26: Revenue ₹701 cr (+7% year on year), EBITDA ₹123 cr (+16% year on year), PAT ₹7.0 cr (+17% year on year), EBITDA margin 17.6% (+131 bps). Score 38 of 100, Below trend. Revenue growth was above the company's own trend; EBITDA growth was in line with it; profit growth was below it. EBITDA margin rose 131 bps year on year. Other income 144% of PBT. Tax rate 70%. Revenue fell 10% from last quarter. Share price after the results: +0.5% in 30 days (Nifty 500: −1.4%).
  • Q4 FY25: Revenue ₹779 cr (−3% year on year), EBITDA ₹204 cr (+9% year on year), PAT ₹73.0 cr (−12% year on year), EBITDA margin 26.2% (+281 bps). Score 18 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were below it. EBITDA margin rose 281 bps year on year. Other income 27% of PBT. Consolidated profit -12% but standalone +73%. Share price after the results: +20.9% in 28 days (Nifty 500: +4.3%).
  • Q3 FY25: Revenue ₹678 cr (+7% year on year), EBITDA ₹146 cr (+39% year on year), PAT ₹35.0 cr (+218% year on year), EBITDA margin 21.5% (+500 bps). Score 58 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA growth was well above it. EBITDA margin rose 500 bps year on year. Other income 67% of PBT. Consolidated profit +218% but standalone -25%.
  • Q2 FY25: Revenue ₹671 cr (+2% year on year), EBITDA ₹124 cr (−9% year on year), PAT ₹11.0 cr (−48% year on year), EBITDA margin 18.5% (−228 bps). Score 2 of 100, Below trend. EBITDA margin fell 228 bps year on year. Other income 121% of PBT. Tax rate 59%. Consolidated profit -48% but standalone +15%. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Mahindra Holidays & Resorts India Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.