Mahindra Holidays & Resorts India Ltd (MHRIL) share price, results, shareholding

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	655.27	634.82	800.19	652.86	670.75	678.43	778.83	701.40	717.34	752.70	820.29	732.81
Expenses	519.70	529.69	612.77	548.09	548.04	532.74	574.50	579.49	565.22	608.52	623.09	620.26
Operating Profit	135.57	105.13	187.42	104.77	122.71	145.69	204.33	121.91	152.12	144.18	197.20	112.55
OPM %	20.69%	16.56%	23.42%	16.05%	18.29%	21.47%	26.24%	17.38%	21.21%	19.16%	24.04%	15.36%
Other Income	16.90	31.62	30.15	33.23	35.43	32.23	28.33	38.75	32.11	19.02	23.70	40.73
Interest	33.28	44.91	22.43	35.30	37.54	36.96	38.38	38.73	48.13	47.24	46.95	47.07
Depreciation	83.79	85.54	86.03	88.66	92.48	92.99	91.87	95.64	100.60	104.42	108.63	109.40
Profit before tax	35.40	6.30	109.11	14.04	28.12	47.97	102.41	26.29	35.50	11.54	65.32	-3.19
Tax %	39.46%	-67.14%	23.74%	56.70%	59.14%	26.14%	28.77%	72.73%	52.28%	87.78%	36.48%	168.03%
Net Profit	21.43	10.53	83.21	6.08	11.48	35.42	72.95	7.17	16.93	1.40	41.49	-8.55
EPS in Rs	1.06	0.58	4.08	0.29	0.68	1.72	3.62	0.39	0.88	0.11	2.06	-0.43

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	1,602	2,267	2,317	2,239	2,372	1,730	2,013	2,517	2,705	2,781	2,992	3,023
Expenses	1,329	1,932	1,948	2,055	1,996	1,489	1,691	2,036	2,182	2,194	2,360	2,417
Operating Profit	273	335	369	184	375	241	323	481	522	587	632	606
OPM %	17%	15%	16%	8%	16%	14%	16%	19%	19%	21%	21%	20%
Other Income	-4	27	34	55	58	116	163	106	114	129	113	116
Interest	25	32	86	40	85	91	105	126	140	157	197	189
Depreciation	98	106	100	101	247	264	271	290	337	366	409	423
Profit before tax	146	224	217	98	101	2	111	171	160	193	139	109
Tax %	38%	35%	39%	39%	232%	667%	39%	33%	27%	35%	52%
Net Profit	90	146	133	60	-134	-14	68	114	116	126	67	51
EPS in Rs	4.34	7.44	6.61	3.02	-6.59	-0.65	3.37	5.72	5.72	6.32	3.44	2.62
Dividend Payout %	51%	30%	40%	0%	0%	0%	0%	0%	0%	0%	0%

	10 Years	5 Years	3 Years	TTM	1 Year	Last Year
Compounded Sales Growth	6%	12%	6%	7%
Compounded Profit Growth	-2%	42%	-14%	-64%
Stock Price CAGR	0%	-5%	-21%		-44%
Return on Equity	16%	21%	17%			10%

	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	500	576
Borrowings	124	705	774	810	830	2,434	2,487	2,567	2,623	2,738	3,131	3,829
Other Liabilities	1,981	2,415	2,587	2,984	5,932	6,167	5,748	5,805	6,085	6,367	6,562	6,586
Total Liabilities	2,830	3,625	3,959	4,505	7,044	8,648	8,319	8,621	9,098	9,629	10,394	11,193
Fixed Assets	1,032	1,339	1,273	1,459	2,439	3,862	3,971	4,186	4,418	4,589	5,003	5,741
CWIP	95	75	171	112	227	250	124	122	182	244	407	361
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	4,231	4,398
Total Assets	2,830	3,625	3,959	4,505	7,044	8,648	8,319	8,621	9,098	9,629	10,394	11,193

	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	-217
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	-1
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%	102%

	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	876
Days Payable		478	245	271	250	234	409	480	413	399	383	348
Cash Conversion Cycle	392	438	330	438	431	376	530	441	327	359	520	678
Working Capital Days	230	150	123	115	122	45	138	14	68	-58	9	63
ROCE %	17%	16%	19%	20%	10%	10%	4%	8%	10%	9%	10%	8%

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	66.81%	66.77%	66.77%	66.76%	66.76%	66.75%	66.74%	66.74%	66.74%	66.74%	66.74%	66.73%
FIIs	5.19%	5.23%	5.26%	5.34%	5.31%	5.37%	5.36%	5.42%	5.44%	5.51%	5.30%	4.01%
DIIs	10.41%	10.59%	10.70%	10.45%	10.25%	10.19%	10.07%	10.17%	10.01%	10.38%	11.01%	11.00%
Public	17.39%	17.21%	17.07%	17.23%	17.49%	17.49%	17.64%	17.45%	17.63%	17.19%	16.76%	18.07%
Others	0.21%	0.21%	0.21%	0.20%	0.19%	0.19%	0.19%	0.19%	0.19%	0.19%	0.18%	0.18%
No. of Shareholders	70,620	75,934	76,636	79,175	82,831	84,080	84,856	88,115	88,964	92,347	93,818	96,220

Fundamentals

Market Cap₹ 3,933 Cr.

Current Price₹ 194

Stock P/E84.1

Book Value₹ 38.5

ROCE8.12 %

ROE9.90 %

Dividend Yield0.00 %

Face Value₹ 10.0

Compounded Sales Growth (TTM)7%

Compounded Profit Growth (TTM)-64%

Consolidated figures.

Valuation

Market capRs 3,930 Cr

Enterprise valueRs 7,657 Cr

P/E (TTM)74.17x

Price to book5.05x

Price to sales1.30x

EV / EBITDA10.61x

EV / EBIT25.65x

EV / sales2.53x

Price to cash flow7.40x

Earnings yield1.35%

P/E, 3-year average59.75x

P/B, 3-year average9.72x

P/E, 5-year average58.92x

P/B, 5-year average12.30x

Profitability

Operating margin (excl. other income)21.11%

Operating margin (incl. other income)24.90%

EBITDA margin23.87%

Pre-tax margin3.61%

Net profit margin1.75%

Net margin, latest quarter-1.18%

ROE9.40%

ROCE7.95%

ROA0.64%

ROE, 3-year average18.50%

ROCE, 3-year average9.12%

ROA, 3-year average1.05%

ROE, 5-year average26.37%

ROCE, 5-year average9.11%

ROA, 5-year average1.05%

ROIC (approx.)3.20%

Tax rate51.68%

Other income / net worth14.56%

Growth

Sales growth (latest year)7.58%

Profit growth (latest year)-45.52%

Sales CAGR, 3 years5.93%

Sales CAGR, 5 years11.58%

Profit CAGR, 3 years-15.48%

Sales growth QoQ-10.66%

Profit growth QoQ-120.84%

Sales growth YoY (latest quarter)4.48%

Profit growth YoY (latest quarter)-210.04%

Per share

EPS (TTM)Rs 2.63

EPS (latest year)Rs 3.45

EPS (latest quarter)Rs -0.43

EPS, 3-year averageRs 5.16

EPS, 5-year averageRs 4.92

Book value per shareRs 38.57

Sales per shareRs 149.90

Cash flow per shareRs 26.32

Free cash flow per shareRs 6.89

Efficiency

Asset turnover0.27x

Fixed asset turnover0.52x

Inventory turnover0.99x

Inventory days369 days

Debtor days150 days

Debtors turnover2.43x

Creditor days348 days

Cash conversion cycle678 days

Working capital days63 days

Leverage

Total debtRs 3,829 Cr

Cash and bankRs 102 Cr

Net debtRs 3,728 Cr

Debt to equity4.92x

Net debt / EBITDA5.17x

Interest coverage1.58x

Current ratio (filing 2026-03-31)1.52x

Quick ratio (filing 2026-03-31)1.18x

Trade payables (filing 2026-03-31)Rs 331 Cr

Owners' fund to total sources6.95%

Debt to assets34.21%

Cash flow

Cash from Operating Activity (latest year)Rs 531 Cr

Cash from Investing Activity (latest year)Rs -217 Cr

Cash from Financing Activity (latest year)Rs -315 Cr

Net Cash Flow (latest year)Rs -1 Cr

Free cash flow (latest year)Rs 139 Cr

FCFE (approx.: FCF + change in debt)Rs 838 Cr

Cash from ops / profit, 5 years6.02x

Sales to cash flow5.64x

Statement figures

Net sales (TTM)Rs 3,023 Cr

Net sales (latest year)Rs 2,992 Cr

Sales (latest quarter)Rs 733 Cr

Operating profit excl. other income (latest year)Rs 632 Cr

Operating profit (latest quarter)Rs 113 Cr

Other income (TTM)Rs 116 Cr

EBITDA (TTM)Rs 722 Cr

PBDT (TTM)Rs 532 Cr

Profit before tax (TTM)Rs 109 Cr

Tax (latest year)Rs 72 Cr

Net profit (TTM)Rs 53 Cr

Net profit (latest year)Rs 70 Cr

Net profit (latest quarter)Rs -9 Cr

Depreciation (TTM)Rs 423 Cr

Depreciation (latest quarter)Rs 109 Cr

Interest (TTM)Rs 189 Cr

Cost of goods sold (latest year)Rs 825 Cr

Total expenditure (latest year)Rs 2,360 Cr

Total income (latest year)Rs 3,105 Cr

Share capitalRs 202 Cr

ReservesRs 576 Cr

Shareholders' fundsRs 778 Cr

Total assetsRs 11,193 Cr

Net blockRs 5,741 Cr

Capital work in progressRs 361 Cr

InvestmentsRs 695 Cr

ReceivablesRs 1,229 Cr

InventoryRs 833 Cr

Other liabilitiesRs 6,586 Cr

Shares outstanding (crore)20.17

Ownership

Promoter holding66.73% (-0.01 in a year)

Computed by MarketFriction from the consolidated statements. Returns use average balances.

P/E 74.2 is at the 84th percentile of its own 7.4-year range (median 52.9, low 20.4, high 92.1).

P/B 5.05 is at the 10th percentile (median 13.06).

Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.

Period	MHRIL	Nifty 50	Difference
1 week	-2.4%	-2.8%	+0.3 pts
1 month	-6.5%	-6.8%	+0.3 pts
3 months	-17.6%	-7.6%	-10.0 pts
6 months	-13.9%	+0.4%	-14.3 pts
1 year	-44.2%	-9.9%	-34.3 pts
2 years	-51.4%	-13.6%	-37.8 pts
3 years	-50.8%	+14.2%	-65.0 pts
5 years	-20.2%	+27.9%	-48.1 pts

10 mutual fund schemes hold about ₹177 Cr. Over three months 6 bought more and 2 sold (share counts, price move removed).

Fund	Weight	Est. Cr	3m shares
HDFC Aggressive Hybrid Fund	0.29%	65	-0%
UTI Large & Mid Cap Fund	0.46%	30	+6%
UTI Aggressive Hybrid Fund	0.40%	27	+5%
Quant Small Cap Fund	0.06%	21	-2%
HDFC Dividend Yield Fund	0.34%	19	+8%
UTI Retirement Fund	0.26%	12	+7%
Quant Multi Cap Fund	0.05%	4	+7%
ICICI Pru Exports & Services Fund	0.00%	0	-100%
ICICI Pru Exports & Services Fund	0.00%	0	-100%
Motilal Oswal BSE 1000 Index Fund	0.01%	0	+6%

Red flags

F-score 5 of 8

look	Profit leans on other income Other income was 82% of pre-tax profit in 2026

Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026

Sales ₹733 Cr +4.5% vs Jun 2025. Net loss ₹9 Cr.

Activity

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No bulk or block deals on record.

Ex-date	Action	Factor
2021-09-08	Bonus 1:2	0.6667
2019-07-23	Annual General Meeting
2018-07-25	Annual General Meeting / Dividend- Rs 4 Per Share
2017-07-10	Bonus 1:2	0.6667
2017-06-05	Annual General Meeting/Dividend - Rs 5/- Per Share
2016-07-21	Annual General Meeting/ Dividend - Rs 5/- Per Share
2015-07-16	Annual General Meeting/Dividend- Rs 4/- Per Share
2014-08-13	Annual General Meeting / Dividend - Rs 4/- Per Share
2013-07-11	Annual General Meeting / Dividend Rs.4/- Per Equity Share
2012-07-12	Annual General Meeting And Dividend Rs.4/- Per Share
2011-07-14	Annual General Meeting And Dividend Rs.4/- Per Share
2010-07-15	Agm/Div-Rs.4/- Per Share

Date	Type	What it says
2026-10-01	Litigation	Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.

No short selling reported to NSE in our files.

Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.

Scrip PE is greater than 50 (4 trailing quarters)