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Mahindra Holidays & Resorts India Limited announces results for the quarter ended 31stDecember 2020

Posted On: 2021-01-25 03:58:15 (Time Zone: Arizona, USA)


Mahindra Holidays & Resorts India Limited (The Company), India's leading leisure hospitality provider announced its standalone and consolidated financial results for the quarter ended Dec 31St, 2020 today.

Q3 FY'21 Highlights - Standalone

- PBT at Rs. 55.0 Crs; up by 42.1% YoY; PBT Margin at 22.3% (up by 788 bps)
- PAT at Rs. 40.6 Crs; up by 62.8% YoY; PAT Margin at 16.5% (up by 718 bps)
- Member additions at 3,291
- Cumulative member base at 2,63,952
- Resort Occupancy at 75% as compared to 30% in Q2 FY21
- Healthy cash position at Rs 847.6 Crs

YTD Dec'20 Highlights - Standalone

- EBITDA at Rs. 222.7 Crs; up by 21.6% YoY; EBITDA Margin at 34.0% (up by 1062 bps)
- PBT at Rs. 137.0 Crs; up by 44.4% YoY; PBT Margin at 20.9% (up by 881 bps)
- PAT at Rs. 101.1 Crs; up by 65.8% YoY; PAT Margin at 15.5% (up by 766 bps)

Commenting on the results, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited said, "We have delivered an impressive performance this quarter with our resort occupancies at 75% and member additions growing on QoQ basis. Our profit margins and profit after tax have grown significantly along with improvement in cash position. Our business model is unique and resilient as reflected by our results in the ongoing pandemic".

Further, commenting on European operations he added: "Our European subsidiary Holiday Club Resorts, Spa hotel operations were affected due to second wave of Covid amidst local restrictions. We have delivered consolidated EBITDA of Rs 100.7 Crs and improvement in the EBIDTA margin by 296 bps over the same quarter last year".

Consolidated Results (Under INDAS) - Q3 FY/21

- Consolidated Turnover is Rs. 515.0 Crs for Q3 FY21 as against Rs. 599.8 Crs in Q3 FY20.
- Consolidated EBIDTA is Rs. 100.7 Crs for Q3 FY21 as against Rs. 99.5 Crs in Q3 FY20.
- Consolidated Profit (before tax) is Rs. 7.0 Crs for Q3 FY21 as against Rs. 14.3 Crs in Q3 FY20.

YTD Dec'20

- Consolidated Turnover is Rs. 1351.1 Crs for YTD Q3 FY21 as against Rs. 1799.7 Crs for YTD Q3 FY20.
- Consolidated EBIDTA is Rs. 273.5 Crs for YTD Q3 FY21 as against Rs. 309.0 Crs for YTD Q3 FY20.
- Consolidated Profit (before tax) is Rs. 13.3 Crs for YTD Q3 FY21 as against profit of Rs. 60.3 Crs for YTD Q3 FY20.

Shares of MAHINDRA HOLIDAYS & RESORTS INDIA LTD. was last trading in BSE at Rs.222.35 as compared to the previous close of Rs. 215. The total number of shares traded during the day was 29436 in over 2035 trades.

The stock hit an intraday high of Rs. 228.7 and intraday low of 214.9. The net turnover during the day was Rs. 6468347.


Source: Equity Bulls

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