Hotels company Mahindra Holidays & Resorts India announced FY23 & Q4FY23 results: Standalone FY23: Highest ever: Total Income at Rs 1,275 crore (+24% YoY) excluding one-offs Resort Income at Rs 323 crore (+67% YoY) driven by higher occupied room nights and member spends EBITDA at Rs 352 crore (+18% YoY) excluding one-offs; EBITDA Margin at 27.6% (up 430 bps vs pre-pandemic — FY20) PBT at Rs 183 crore (+17% YoY) excluding one-offs*. PBT Margin at 14.4% (up 240 bps vs pre-pandemic — FY20) Deferred Revenue stands at Rs 5,326 crore (+Rs 244 Crs) Cash position at Rs 1,158 crore Standalone Q4FY23: Total Income at Rs 332 crore (+20% YoY) excluding one-offs Resort Income at Rs 80 crore (+40% YoY) EBITDA at Rs 84 crore (+18% YoY) excluding one-offs*; EBITDA Margin at 25.2% (up 230 bps vs pre-pandemic — Q4 FY20) PBT at Rs 38 crore (+18% YoY) excluding one-offs. PBT Margin at 11.5% Consolidated FY23 (excluding One-offs): Highest ever Total Income at Rs 2,593 crore (+22% YoY) EBITDA at Rs 603 crore (+42% YoY). EBITDA Margin at 23.3% PBT at Rs 177 crore (3X YoY) Consolidated Q4FY23 (excluding One-offs): Total Income at Rs 731 crore (+32% YoY) EBITDA at Rs 195 crore (+93% YoY); EBITDA Margin at 26.7% PBT at Rs 80 crore (16X YoY) Commenting on the performance, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India said, "We have achieved exceptional FY23 results with new milestones in Total Income, Resort Income, EBITDA and PBT. Highest ever Membership Upgrades along with higher member spends is a great endorsement of the immersive family vacation experiences that Club Mahindra delivers consistently." Commenting on European operations, he added, "Despite macroeconomic challenges created by the geopolitical conflict, Holiday Club Resorts (HCR), our European Subsidiary, has turned around as reflected in the Q4 performance driving Revenue growth of Timeshare by 57% YoY and Spa Hotels by 19% YoY, along with EBITDA of € 6.4 million and PAT of € 4.0 million. On a full year basis, HCR has delivered EBITDA of € 5.0 million." Highlighting Consolidated FY23 performance, he elaborated, "Overall, Total Income is the highest ever in our history and has grown by 22% YoY and EBITDA has grown by 42% YoY, excluding one-offs". Result PDF
Mahindra Holidays & Resorts India announced Q3FY23 results: Standalone Q3FY23: Highest ever: Total Income at Rs 336 crore (+18% YoY) excluding one-offs. Resort Income at Rs 91 crore (+30% YoY) driven by higher occupied room nights and member spending. EBITDA at Rs 99 crore (+17% YoY) excluding one-offs, EBITDA Margin at 29.3% (up 300 bps vs pre-pandemic - Q3FY20). Highest ever Q3 PBT at Rs 56 crore (+17% YoY) excluding one-offs. PBT Margin at 16.7%. Cash position at Rs 1,089 crore, up by Rs 71 crore during the quarter. Standalone 9MFY23: Total Income at Rs 943 crore (+26% YoY) excluding one-offs. Resort Income at Rs 243 crore (+79% YoY). EBITDA at Rs 268 crore (+18% YoY) excluding one-offs, EBITDA Margin at 28.4% (up 500 bps vs pre-pandemic - 9MFY20). PBT at Rs 145 crore (+17% YoY) excluding one-offs. PBT Margin at 15.4%. Consolidated Q3FY23: Total Income at Rs 597 crore (+4% YoY) excluding one-offs. EBITDA at Rs 121 crore (+17% YoY) excluding one-offs. EBITDA Margin at 20.2%. PBT at Rs 23 crore (+104% YoY) excluding one-offs. Consolidated 9MFY23: Total Income at Rs 1,862 crore (+18% YoY) excluding one-offs. EBITDA at Rs 380 crore (+17% YoY) excluding one-offs, EBITDA Margin at 20.4%. PBT at Rs 97 crore (+91% YoY) excluding one-offs. Commenting on the performance, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd. said, "Our strategy of scaling up room inventory at an accelerated pace, creating exceptional family vacation experiences at our resorts along with growth in high-quality member additions and upgrades by existing members has helped us deliver highest ever quarterly Resort Income and Total Income. Profit margins have significantly improved vs pre-pandemic levels." Commenting on European operations, he added, "Despite Q3 being a low holidaying season in Finland and high inflation levels along with ongoing geopolitical situation, Holiday Club Resorts has delivered improved performance in Timeshare and Spa Hotel Revenues on a YoY basis with higher occupancies than the local hotel industry. Winter holiday season augurs well for higher occupancies in Q4 aided by growing international and domestic travel demand." Highlighting Consolidated Q3 performance, he elaborated, "PBT has grown by 104% YoY and EBITDA by 17% YoY, excluding one-offs." Result PDF