Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Mahindra Holidays & Resorts India Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 712 | 614 | 655 | 635 | 800 | 653 | 671 | 678 | 779 | 701 | 717 | 753 | 820 |
| Expenses + | 547 | 530 | 520 | 530 | 613 | 548 | 548 | 533 | 574 | 579 | 565 | 609 | 623 |
| Operating Profit | 165 | 84 | 136 | 105 | 187 | 105 | 123 | 146 | 204 | 122 | 152 | 144 | 197 |
| OPM % | 23% | 14% | 21% | 17% | 23% | 16% | 18% | 21% | 26% | 17% | 21% | 19% | 24% |
| Other Income + | 24 | 38 | 17 | 32 | 30 | 33 | 35 | 32 | 28 | 39 | 32 | 19 | 24 |
| Interest | 33 | 32 | 33 | 45 | 22 | 35 | 38 | 37 | 38 | 39 | 48 | 47 | 47 |
| Depreciation | 79 | 81 | 84 | 86 | 86 | 89 | 92 | 93 | 92 | 96 | 101 | 104 | 109 |
| Profit before tax | 77 | 9 | 35 | 6 | 109 | 14 | 28 | 48 | 102 | 26 | 36 | 12 | 65 |
| Tax % | 27% | 90% | 39% | -67% | 24% | 57% | 59% | 26% | 29% | 73% | 52% | 88% | 36% |
| Net Profit + | 56 | 1 | 21 | 11 | 83 | 6 | 11 | 35 | 73 | 7 | 17 | 1 | 41 |
| EPS in Rs | 2.80 | 0.01 | 1.06 | 0.58 | 4.08 | 0.29 | 0.68 | 1.72 | 3.62 | 0.39 | 0.88 | 0.11 | 2.06 |
Financials of Mahindra Holidays & Resorts India Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 812 | 1,602 | 2,267 | 2,317 | 2,239 | 2,372 | 1,730 | 2,013 | 2,517 | 2,705 | 2,781 | 2,992 |
| Expenses + | 623 | 1,329 | 1,932 | 1,948 | 2,055 | 1,996 | 1,489 | 1,691 | 2,036 | 2,182 | 2,194 | 2,376 |
| Operating Profit | 189 | 273 | 335 | 369 | 184 | 375 | 241 | 323 | 481 | 522 | 587 | 616 |
| OPM % | 23% | 17% | 15% | 16% | 8% | 16% | 14% | 16% | 19% | 19% | 21% | 21% |
| Other Income + | -4 | -4 | 27 | 34 | 55 | 58 | 116 | 163 | 106 | 114 | 129 | 113 |
| Interest | 11 | 25 | 32 | 86 | 40 | 85 | 91 | 105 | 126 | 140 | 157 | 181 |
| Depreciation | 66 | 98 | 106 | 100 | 101 | 247 | 264 | 271 | 290 | 337 | 366 | 409 |
| Profit before tax | 107 | 146 | 224 | 217 | 98 | 101 | 2 | 111 | 171 | 160 | 193 | 139 |
| Tax % | 25% | 38% | 35% | 39% | 39% | 232% | 667% | 39% | 33% | 27% | 35% | 52% |
| Net Profit + | 81 | 90 | 146 | 133 | 60 | -134 | -14 | 68 | 114 | 116 | 126 | 67 |
| EPS in Rs | 4.07 | 4.34 | 7.44 | 6.61 | 3.02 | -6.59 | -0.65 | 3.37 | 5.72 | 5.72 | 6.32 | 3.44 |
| Dividend Payout % | 43% | 51% | 30% | 40% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Mahindra Holidays & Resorts India Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 88 | 88 | 88 | 133 | 133 | 133 | 133 | 200 | 201 | 202 | 202 | 202 |
| Reserves | 637 | 418 | 509 | 579 | 149 | -87 | -48 | 50 | 189 | 323 | 579 | 576 |
| Borrowings + | 124 | 705 | 774 | 810 | 830 | 2,434 | 2,487 | 2,567 | 2,623 | 2,738 | 3,130 | 3,829 |
| Other Liabilities + | 1,981 | 2,415 | 2,587 | 2,984 | 5,932 | 6,167 | 5,748 | 5,805 | 6,085 | 6,367 | 6,512 | 6,777 |
| Total Liabilities | 2,830 | 3,625 | 3,959 | 4,505 | 7,044 | 8,648 | 8,319 | 8,621 | 9,098 | 9,629 | 10,423 | 11,385 |
| Fixed Assets + | 1,032 | 1,339 | 1,273 | 1,459 | 2,439 | 3,862 | 3,971 | 4,186 | 4,418 | 4,589 | 5,003 | 5,776 |
| CWIP | 95 | 75 | 171 | 112 | 227 | 250 | 124 | 122 | 182 | 244 | 407 | 325 |
| Investments | 143 | 61 | 104 | 453 | 324 | 406 | 77 | 306 | 573 | 675 | 753 | 695 |
| Other Assets + | 1,561 | 2,150 | 2,411 | 2,481 | 4,055 | 4,129 | 4,147 | 4,007 | 3,924 | 4,122 | 4,260 | 4,589 |
| Total Assets | 2,830 | 3,625 | 3,959 | 4,505 | 7,044 | 8,648 | 8,319 | 8,621 | 9,098 | 9,629 | 10,423 | 11,385 |
Financials of Mahindra Holidays & Resorts India Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 201 | 242 | 276 | 551 | 263 | 561 | 382 | 498 | 681 | 624 | 621 | 531 |
| Cash from Investing Activity + | -308 | -379 | -182 | -547 | -239 | -281 | -235 | -257 | -209 | -448 | -402 | -213 |
| Cash from Financing Activity + | 78 | 274 | -6 | -144 | -21 | -254 | -154 | -217 | -459 | -190 | -285 | -315 |
| Net Cash Flow | -30 | 137 | 88 | -140 | 4 | 26 | -6 | 23 | 14 | -13 | -66 | 2 |
| Free Cash Flow | 67 | 68 | 128 | 348 | 99 | 417 | 263 | 375 | 425 | 310 | 295 | 139 |
| CFO/OP | 127% | 111% | 102% | 173% | 189% | 167% | 159% | 136% | 141% | 110% | 106% | 105% |
Financials of Mahindra Holidays & Resorts India Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 392 | 213 | 164 | 169 | 181 | 192 | 204 | 175 | 148 | 149 | 150 | 150 |
| Inventory Days | 703 | 411 | 540 | 499 | 418 | 735 | 746 | 592 | 609 | 753 | ||
| Days Payable | 478 | 245 | 271 | 250 | 234 | 409 | 480 | 413 | 399 | 383 | ||
| Cash Conversion Cycle | 392 | 438 | 330 | 438 | 431 | 376 | 530 | 441 | 327 | 359 | 520 | 150 |
| Working Capital Days | 230 | 150 | 123 | 115 | 122 | 45 | 138 | 14 | 68 | -58 | 16 | 145 |
| ROCE % | 17% | 16% | 19% | 20% | 10% | 10% | 4% | 8% | 10% | 9% | 10% | 8% |