Mahindra Holidays and Resorts India Ltd. (‘Company’), India’s leading leisure hospitality provider reported its standalone and consolidated financials for the fourth quarter ending 31st March 2022 and financial year 2021-22.
Operational Highlights
- Member additions for the quarter at 4,058, resulting in a total of 12,764 members during the year. Our cumulative member base stands at ~2.66 lakhs.
- High resort occupancies at 77% in the fourth quarter, close to pre-pandemic levels and healthy occupancy of 74% for the full year.
- Achieved a milestone of 4,500+ rooms with a gross addition of 385 rooms during the year, taking our total inventory count to 4,568 rooms.
- Our resort count reaches a total of 84 resorts
- Resorts were added at domestic destinations such as Rameswaram (Tamil Nadu), Dindi (Andhra Pradesh), Leh, Pushkar (Rajasthan), Daman, Shillong, and international destinations such as Pattaya, Bentota (Sri Lanka) and Bali.
- Expanded inventory at our existing properties in Assonora (Goa), Tungi (Lonavala), Ashtamudi (Kerala), and Kensville (Gujarat).
- MHRIL won the bid for Janjehli resort (Himachal Pradesh) under Public Private Partnership (PPP) mode.
- Share of member acquisitions through the digital and referral routes increased to 57% in Q4 FY22 and 58% for the year.
- All resorts are certified by Bureau Veritas with highest level of Platinum certification for safety and hygiene standards.
Financial Highlights
Standalone
Q4 FY22
- Total Income at Rs. 304 Crs, up by 19.4% YoY.
- Resort Income at Rs. 57 Crs, highest ever in fourth quarter.
- EBITDA at Rs. 98 Crs, up by 53.6% YoY; EBITDA Margin at 32.1%.
- PBT at Rs. 59 Crs, up 81.9% YoY; PBT Margin at 19.4%.
- PBT without one-time impact* at Rs. 33 Crs, up 36.8% YoY. PBT Margin without one-time impact* at 11.7% (up 200 bps YoY).
- PAT at Rs. 45 Crs, up 80.6%; PAT Margin at 14.6%.
- Cash position at Rs. 1,172 Crs as on Mar’22 vs Rs. 1,108 Crs as on Dec’21.
- Profit from Sale of Investment (Nreach Online Services Pvt. Ltd.) of Rs. 26.3 Crs
FY22
- Total Income at Rs. 1,071 Crs, up 17.8% YoY.
- Resort Income at Rs. 193 Crs, up 84.6% YoY.
- EBITDA at Rs. 345 Crs, up 20.4% YoY; EBITDA Margin at 32.2%.
- PBT at Rs. 204 Crs, up 20.1% YoY; PBT Margin at 19.0%.
- PBT without one-time impact* at Rs. 160 Crs, up 15.6% YoY. PBT Margin without one-time impact* at 15.6%.
- PAT at Rs. 151 Crs, up 20.3%; PAT Margin at 14.1%.
- Our cash position improved by Rs. 232 Crs in FY22 and stands at Rs. 1,172 Crs as on Mar’22.
*One-time impact on account of Income from Lease Rent Waivers, Interest on IT refunds and Profit from Sale of Investment (Nreach).
