Mahindra Holidays & Resorts India Limited Announces it's results for the year ended 31st March, 2016
- Turnover up 19% at Rs. 962 Crores
- Profit After Tax up 49% at Rs. 117.3 Crores
- Member addition up 26% at 1,99,617
- Dividend increased from 40% to 50%
Mumbai, 17th May 2016: Mahindra Holidays & Resorts India Limited (MHRIL), India's leading leisure hospitality provider announced its Consolidated and Standalone financial results for the quarter ended and year ended March 31, 2016 today.
Q4FY16 - Standalone
For the quarter ended March 31, 2016, Total Income at Rs. 254.3 Crores was 23% higher than Rs. 207.2 Crores in Q4FY15. Profit after Tax (PAT) for Q4FY16 at Rs. 32.09 Crores was 29% higher than Rs. 24.8 Crores (before exceptional items) in Q4FY15.
Standalone Results - FY16
For the year ended 31st March, 2016, Total Income at Rs. 962.6 Crores was 19% higher than Rs. 807.5 Crores for the previous year. Profit after Tax (PAT) for FY16 at Rs. 117.3 Crores was 49% higher than Rs. 79.0 Crores in FY15.
Consolidated Results - FY16
For the year ended 31st March, 2016, the Company’s Total Income was Rs. 1603.8 Crores and Profit After Tax (PAT) was Rs. 99.0 Crores.
During the year, the Company increased its shareholding in Holiday Club Resorts Oy (HCR), Finland, from 23.3% to 85.61%. It is heartening to note that despite the current situation in Europe, HCR has earned a profit of 3.2 million Euros in the 7-months ending 31st March 2016, since it became a subsidiary of the company on 2nd September, 2015.
Now, the Company, along with its subsidiary HCR, has a bouquet of 75 resorts across India, Thailand, Malaysia, Austria, Dubai, Finland, Sweden and Spain. This makes us the largest vacation ownership company outside the USA.
Commenting on the results, Arun Nanda, Chairman, Mahindra Holidays & Resorts India Limited said, "The relentless efforts put in by the new Management Team has started yielding results as can be seen in a growth of 26% in member addition, 19% in income and 49% in profit after tax over the previous year. The continued focus on improving member experiences at the company’s resorts should augur well for the future".
Commenting on the results, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited said, "Our deep understanding of family vacationing needs gained over the last 20 years across 45 resorts in India and abroad and a proven track record of delivering memorable leisure experiences has helped us achieve significant growth in member additions through referrals, higher resort income and margin expansion in an otherwise challenging macroeconomic environment".
About Mahindra Holidays and Resorts India Limited
Mahindra Holidays & Resorts India Limited (MHRIL), India's leading player in the leisure hospitality industry, offers quality family holidays primarily through vacation ownership memberships. While Club Mahindra is the flagship brand, the other brands offered by the company are - Club Mahindra Fundays and Svaastha Spa.
As on March 31, 2016, MHRIL has ~199K vacation ownership members and operates 45 resorts across India and abroad and its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has 50,000 members and 30 resorts across Finland, Sweden and Spain.
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world's largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times 'Boldness in Business' Award in the 'Emerging Markets' category in 2013.
Visit us at www.mahindra.com
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For further enquiries, please contact
Tel: +91 22 2490 5645
Chief Investor Relations Officer
Mahindra Holidays & Resorts India Limited
Phone: +91 22 3368 4733/20
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