Companies›Consumer Discretionary›Consumer Services›Leisure Services
NSE:MHRIL

MAHINDRA HOLIDAYS LTD

Consumer Services › Leisure Services
₹181.72
at close · 28 Oct 2026
▼ 1.54 (-0.84%)

Latest filings

  1. Q2 FY27 profit rises 17%; 1,000 keys planned · Investor Communications
  2. No share conversion requests in July to September 2026 · Compliance
  3. September quarter and half-year results published in newspapers · Compliance
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Operates a vacation ownership (timeshare) business in India under the Club Mahindra brand, selling multi-year memberships that entitle members to stays at a network of resorts. Earns revenue from membership sales and upgrades, recurring member subscription and usage fees, and resort stays by both members and non-member walk-in (FIT) guests. Also runs a Finland-based vacation ownership business (Holiday Club Resorts, or HCRO) that is under strategic review with all options including exit on the table. The Indian MHRIL segment contributed 52.2% of segment revenue and an EBIT margin of 18.6%, while the HCRO segment contributed 47.8% but posted an EBIT margin of -5.1%. In Q1 FY27, Keystone membership sales reached INR154 cr with upgrade value of INR89 cr; resort revenue grew 10% YoY to INR126 cr though about 400 keys were offline for renovation, and non-member/FIT business grew 30% YoY. The network target is 10,000 keys by FY30 with ~1,000 gross key additions planned for FY27. The largest cost lines are other operating expenses at 52.2% of revenue and employee costs at 27.2%, with depreciation at 13.7% reflecting the asset-heavy resort model.

Revenue mix · reported segments
MHRIL (Indian vacation ownership)52.2%
HCRO (European vacation ownership)47.8%
Operating scale
Resort network
58 resorts across 13 statesFY26
Employees
7,592FY26
Resort keys target
10,000 keys by FY30; 8,200-8,300 in approved pipelineFY27 Q1 guidance
Resort occupancy
86.7%Q1 FY27
Keystone average unit realisation
INR14.4 lakhs (+73% YoY)Q1 FY27
Deferred revenue
INR5,825 crQ1 FY27
Who pays it
Indian consumers buying vacation ownership memberships and resort guests (members and non-member FIT travellers); HCRO segment serves European timeshare customers
Biggest cost
Other operating expenses (resort operations) at 52.2% of revenue, followed by employee costs at 27.2%
Kind of business
Asset-heavy resort network funded by multi-year member prepayments reflected as deferred revenue
Where it sits
Indian vacation ownership operator under the Mahindra Group; HCRO Finland subsidiary under strategic review with potential exit on the table
Market Cap
₹3,696 Cr
P / E (TTM)
69.7×
EV / EBITDA
6.8×
Div Yield
0.00%
Growth
11.6%▲
Revenue 5y CAGR
PAT — · EBITDA +15.9%
Quality
3.7%·
ROCE (5y median)
ROE 21.8% (5y median) · margin 24.4%
Leverage
1.57·
Debt / Equity · high
Net debt ₹1,198 Cr
Revenue FY21→FY26
1.7×▲
Margin +3.0 pts
₹1,730 Cr → ₹2,992 Cr
Cash conversion
6.03×▲
Operating cash ÷ profit · 5 yrs
₹2,956 Cr on ₹490 Cr
Moves on a normal day
0.95%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 65 Hotels & Resorts peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#54/57
P/B#51/57
ROCE#45/65
ROE#22/57
Debt / Equity#52/57
EBITDA margin#40/58
Revenue growth#35/58
Profit growth#52/55

Scorecard

Measured from the filed financials, judged against its Hotels & Resorts peers · as of FY26 — not investment advice

Strengths
Over 5 years it reported ₹490 Cr of profit and ₹2,956 Cr of operating cash — 6.03×
Profit is converting into cash
Concerns
Returns on capital 3.7% (5-year median)
#45 of 65 in Hotels & Resorts on the latest reported figures · up from 1.2% in FY21
Carries more debt than its peers — 1.57× equity
higher than 91% of its 57 Hotels & Resorts peers
Heavy working capital — 211 days of cash tied up

Charts

How has the market priced it — with filings on the timeline?

MHRIL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from MAHINDRA HOLIDAYS LTD's filed financials and exchange disclosures

What does MAHINDRA HOLIDAYS LTD do?

MAHINDRA HOLIDAYS LTD is a Leisure Services company listed on NSE and BSE, trading under the symbol MHRIL.

Is MAHINDRA HOLIDAYS LTD profitable?

Yes. Over the trailing twelve months MAHINDRA HOLIDAYS LTD reported a net profit of ₹51 Cr on revenue of ₹3,023 Cr.

Does MAHINDRA HOLIDAYS LTD pay a dividend?

Not in the latest reported year — MAHINDRA HOLIDAYS LTD's dividend payout for FY26 was nil.

Is MAHINDRA HOLIDAYS LTD debt-free?

No. It reported borrowings of ₹1,234 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹1,198 Cr after cash. Debt stands at 1.57× equity. That is higher than 91% of its 57 Hotels & Resorts peers.

Is MAHINDRA HOLIDAYS LTD expensive compared with its peers?

On trailing P/E, MAHINDRA HOLIDAYS LTD ranks 54 of 57 in Hotels & Resorts — cheaper than 5% of them, against an industry median of 26.2×. This is a position, not a valuation judgement.

How much does the MAHINDRA HOLIDAYS LTD share price move in a day?

On a typical session MAHINDRA HOLIDAYS LTD moves 0.95% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track MAHINDRA HOLIDAYS LTD's announcements?

Every NSE and BSE filing by MAHINDRA HOLIDAYS LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.