Mahindra Holidays & Resorts India Limited — Quarter ended 31-Mar-26 (Audited) and year ended 31-Mar-26 (Audited); reporting date 27-Apr-2026
Optional commentary: Financial tables extracted from the provided document (figures in ₹ Lakhs).
| SI No. | Particulars | Quarter ended 31-Mar-26 (Audited) | 31-Dec-25 (Unaudited) | 31-Mar-25 (Audited) (Restated)* | Year ended 31-Mar-26 (Audited) | 31-Mar-25 (Audited) (Restated)* |
|---|---|---|---|---|---|---|
| 1. | INCOME | |||||
| Revenue from operations | 37,694.39 | 37,945.99 | 36,133.84 | 1,46,923.23 | 1,40,029.90 | |
| Other income | 3,005.57 | 3,552.43 | 3,666.11 | 14,403.84 | 14,461.12 | |
| Total income | 40,699.96 | 41,498.42 | 39,799.95 | 1,61,327.07 | 1,54,491.02 | |
| 2. | EXPENSES | |||||
| Employee benefit expenses | 10,464.70 | 10,580.60 | 10,325.83 | 40,293.47 | 39,899.38 | |
| Finance costs | 1,590.93 | 1,475.07 | 1,165.78 | 6,560.28 | 4,416.43 | |
| Depreciation and amortisation expenses | 5,102.26 | 4,939.17 | 4,414.98 | 19,324.75 | 17,796.08 | |
| Other expenses | 16,021.41 | 16,012.20 | 16,303.79 | 61,766.06 | 65,421.11 | |
| Total expenses | 33,179.30 | 33,007.04 | 32,210.38 | 1,27,944.56 | 1,27,533.00 | |
| 3. | Profit before exceptional items and tax (1 – 2) | 7,520.66 | 8,491.38 | 7,589.57 | 33,382.51 | 26,958.02 |
| 4. | Exceptional items (Refer Note No. 10) | (23,369.59) | (1,090.65) | – | (24,460.24) | – |
| 5. | PROFI T / (LOSS) BEFORE TAX (3 + 4) | (15,848.93) | 7,400.73 | 7,589.57 | 8,922.27 | 26,958.02 |
| 6. | Tax expense | |||||
| – Current tax | 959.51 | 1,663.77 | 1,058.69 | 5,434.14 | 3,775.35 | |
| – Deferred tax | 1,017.71 | 243.67 | 781.50 | 3,033.09 | 3,134.24 | |
| Total tax expense | 1,977.22 | 1,907.44 | 1,840.19 | 8,467.23 | 6,909.59 | |
| 7. | PROFIT / (LOSS) AFTER TAX FOR THE PERIOD / YEAR (5 – 6) | (17,826.15) | 5,493.29 | 5,749.38 | 455.04 | 20,048.43 |
| 8. | OTHER COMPREHENSIVE INCOME | |||||
| A. Items that will not be reclassified to profit or loss | ||||||
| – Remeasurements of the defined benefit (assets) / liabilities | 159.45 | (33.28) | (111.21) | (44.74) | (129.17) | |
| – Freehold land revaluation (Refer Note No. 6) | – | – | 11,202.12 | – | 11,202.12 | |
| – Income taxes related to items that will not be reclassified to profit or loss (Refer Note No. 5) | (40.13) | 8.37 | (1,646.72) | 11.26 | 2,788.41 | |
| B. Items that may be reclassified to profit or loss | ||||||
| – Debt instruments through other comprehensive income | (74.81) | 7.35 | 15.35 | (22.68) | 41.33 | |
| – Income taxes related to items that may be reclassified to profit or loss | 18.83 | (1.85) | (10.40) | 5.71 | (10.40) | |
| Total other comprehensive income / (loss) (A + B) | 63.34 | (19.41) | 9,449.14 | (50.45) | 13,892.29 | |
| 9. | TOTAL COMPREHENSIVE INCOME / (LOSS) FOR THE PERIOD / YEAR (7 + 8) | (17,762.81) | 5,473.88 | 15,198.52 | 404.59 | 33,940.72 |
| 10. | Paid-up equity share capital (Face value ₹ 10 per share) (Net of treasury shares) | 20,167.67 | 20,166.41 | 20,164.18 | 20,167.67 | 20,164.18 |
| 11. | Other equity (excluding revaluation reserve) as shown in the audited balance sheet | |||||
| a. Reserves & Surplus | – | – | – | 1,42,391.35 | 1,41,491.00 | |
| b. Other Comprehensive Income | – | – | – | (390.88) | (340.43) | |
| c. Transition Difference | – | – | – | (1,40,272.59) | (1,40,272.59) | |
| 12. | Earnings per share on net profit for the period / year (SI No. 7) in ₹ (not annualized) | |||||
| a. Basic (in ₹) | (8.84) | 2.72 | 2.85 | 0.23 | 9.95 | |
| b. Diluted (in ₹) | (8.83) | 2.72 | 2.85 | 0.23 | 9.94 |
| Particulars | As at 31-Mar-26 (Audited) | As at 31-Mar-25 (Audited) (Restated)* | As at 01-Apr-24 (Audited) (Restated)* |
|---|---|---|---|
| A ASSETS | |||
| Non-current assets | |||
| Property, plant and equipment | 2,68,831.77 | 2,41,612.77 | 2,28,126.91 |
| Right of use asset | 76,128.78 | 55,261.06 | 40,069.92 |
| Capital work-in-progress | 32,019.61 | 35,564.60 | 19,164.95 |
| Other intangible assets | 2,079.30 | 692.79 | 1,029.78 |
| Intangible assets under development | 1,210.70 | 2,196.34 | 1,732.62 |
| Financial Assets | |||
| Investments in subsidiaries and associate | 15,987.26 | 39,356.85 | 39,354.33 |
| Trade receivables | 14,470.53 | 18,768.69 | 22,316.63 |
| Loans | 28,517.84 | 22,221.99 | 21,117.31 |
| Other financial assets | 17,169.60 | 75,356.91 | 51,070.82 |
| Deferred tax assets (net) | 6,791.07 | 9,807.20 | 12,919.33 |
| Other non-current tax assets (net) | 16,387.28 | 16,232.25 | 16,814.67 |
| Deferred acquisition cost | 71,650.88 | 75,290.45 | 74,538.50 |
| Other non-current assets | 7,715.60 | 5,113.97 | 4,037.23 |
| Total Non-current assets | 5,58,960.22 | 5,97,475.87 | 5,32,293.00 |
| Current assets | |||
| Inventories | 643.47 | 670.32 | 560.82 |
| Financial Assets | |||
| Investments | 66,669.14 | 72,859.14 | 65,033.23 |
| Trade receivables | 1,12,445.26 | 1,05,311.52 | 99,631.42 |
| Cash and cash equivalents | 1,292.44 | 1,059.27 | 2,734.04 |
| Other bank balances | 5,190.43 | 21,905.52 | 17,405.06 |
| Loans | 60.10 | 47.71 | 69.31 |
| Other financial assets | 71,256.52 | 67.75 | 15,487.60 |
| Deferred acquisition cost | 6,600.73 | 6,446.22 | 6,154.03 |
| Other current assets | 9,219.28 | 7,772.12 | 9,352.12 |
| Total Current assets | 2,73,377.37 | 2,16,139.57 | 2,16,427.63 |
| Total Assets | 8,32,337.59 | 8,13,615.44 | 7,48,720.63 |
| B EQUITY AND LIABILITIES | |||
| EQUITY | |||
| Equity share capital | 20,167.67 | 20,164.18 | 20,153.67 |
| Other equity | |||
| Reserves & surplus | 1,42,391.35 | 1,41,491.00 | 1,21,198.80 |
| Revaluation reserve | 99,884.36 | 99,884.36 | 85,927.42 |
| Other comprehensive income | (390.88) | (340.43) | (274.70) |
| Transition difference | (1,40,272.59) | (1,40,272.59) | (1,40,272.59) |
| Total Other Equity | 1,01,612.24 | 1,00,762.34 | 66,578.93 |
| Total Equity | 1,21,779.91 | 1,20,926.52 | 86,732.60 |
| LIABILITIES | |||
| Non-current liabilities | |||
| Lease liabilities | 75,804.38 | 53,188.89 | 35,899.92 |
| Other financial liabilities | 2,785.19 | 2,269.87 | 500.98 |
| Provisions | 2,326.38 | 1,039.83 | 951.59 |
| Deferred tax liabilities | 17,557.76 | 17,557.76 | 20,313.65 |
| Contract liability-deferred revenue | 4,98,648.18 | 4,97,062.80 | 4,87,776.50 |
| Total Non-current liabilities | 5,97,121.89 | 5,71,119.15 | 5,45,442.64 |
| Current liabilities | |||
| Lease liabilities | 6,187.84 | 6,056.00 | 7,203.08 |
| Trade payables – Total outstanding dues of Micro Enterprises and Small Enterprises | 1,116.44 | 145.19 | 122.81 |
| Trade payables – Total outstanding dues of creditors other than Micro Enterprises and Small Enterprises | 16,071.77 | 22,068.13 | 22,828.28 |
| Other financial liabilities | 7,609.48 | 8,185.38 | 8,323.74 |
| Provisions | 707.99 | 852.49 | 610.53 |
| Current Tax Liabilities (net) | – | 4,968.78 | 2,113.57 |
| Contract liability-deferred revenue | 79,219.19 | 76,540.29 | 71,752.16 |
| Others | 2,523.08 | 2,753.51 | 3,591.22 |
| Total Current liabilities | 1,13,435.79 | 1,21,569.77 | 1,16,545.39 |
| Total Equity & Liabilities | 8,32,337.59 | 8,13,615.44 | 7,48,720.63 |
| Particulars | Year ended 31-Mar-26 (Audited) | Year ended 31-Mar-25 (Audited) |
|---|---|---|
| A. CASH FLOW FROM OPERATING ACTIVITIES: | ||
| Net profit before tax | 8,922.27 | 26,958.02 |
| Adjustments for: | ||
| Finance costs | 6,560.28 | 4,416.43 |
| Interest income | (9,141.56) | (7,747.60) |
| Impairment loss recognised on investment in subsidiary | 23,369.59 | – |
| Impairment loss recognised on trade receivables | 15.00 | 398.23 |
| Depreciation and amortisation | 19,324.75 | 17,796.08 |
| Net loss on disposal of property, plant and equipment | 45.56 | 33.74 |
| Gain due to change in lease arrangements | (268.53) | (106.98) |
| Net foreign exchange gain | (817.41) | (410.10) |
| Net gain on sale of investment | (1,654.09) | (1,463.00) |
| Net gain on Investments carried at FVTPL | (2,694.31) | (4,404.82) |
| Equity-settled share-based payments | 432.93 | 51.55 |
| Prepaid rent measured at amortised cost | 368.90 | – |
| Operating profit before working capital changes | 35,541.11 | 8,563.53 |
| Movements in working capital: | ||
| Increase in trade, other receivables and deferred acquisition cost | (1,180.05) | (4,003.47) |
| Decrease / (Increase) in inventories | 26.88 | (109.50) |
| Decrease in trade payables | (4,987.82) | (859.95) |
| Increase in provisions | 1,097.30 | 201.03 |
| Increase in contract liability | 4,264.25 | 14,074.44 |
| Decrease in other liabilities | (472.28) | (707.08) |
| Cash generated from operations | (1,251.72) | 8,595.47 |
| Income taxes refund / (paid) (net) | (10,683.91) | 429.77 |
| NET CASH GENERATED FROM OPERATING ACTIVITIES | 32,527.75 | 44,546.79 |
| B. CASH FLOW FROM INVESTING ACTIVITIES: | ||
| Interest received | 4,239.75 | 5,416.85 |
| Loan given to related parties | (6,826.75) | (1,090.52) |
| Loan repaid by related parties | 1,298.62 | 101.55 |
| Placement of fixed deposits and other deposits | (14,567.99) | (39,878.57) |
| Proceeds from maturity of fixed deposits and other deposits | 19,580.16 | 30,527.02 |
| Payments for property, plant and equipment and intangibles including CWIP | (33,270.10) | (26,457.56) |
| Proceeds from disposal of property, plant and equipment | 92.21 | 14.56 |
| Proceeds from disposal of investments in mutual funds | 1,38,574.68 | 1,22,791.81 |
| Purchase of investments in mutual funds | (1,28,162.24) | (1,24,708.56) |
| Equity Investment in subsidiary and other entities | – | (2.52) |
| NET CASH USED IN INVESTING ACTIVITIES | (19,041.66) | (33,285.94) |
| C. CASH FLOW FROM FINANCING ACTIVITIES: | ||
| Proceeds from issue of equity share capital | 3.49 | 234.97 |