Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited announced its Consolidated and Standalone financial results for the quarter ended and year ended March 31, 2017, in Mumbai – Photo By Sachin Murdeshwar GPN NETWORK
DECLARES ISSUE OF BONUS SHARES IN THE RATIO OF ONE (1) SHARE FOR EVERY TWO (2) SHARES HELD
MUMBAI, (GPN): Kavinder Singh, Managing Director and Chief Executive Officer, 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, 2017 today
Key Highlights FY17 Performance
− Turnover up 14.7% at Rs. 1,105 Crs.
− Profit before Tax up 19.5% at Rs. 200.9 Crs.
− Member addition up 14.7% at 18,557
− Cumulative member base at 218,138
Financial Performance FY17 – Standalone Results For the year ended 31st March, 2017, Total Income at Rs. 1,105.9 Crs. was 14.7% higher than Rs. 963.9 Crs. for the previous year. Profit before Tax (PBT) for FY17 at Rs. 200.9 Crs. was 19.5% higher than Rs. 168.1 Crs. in FY16. Profit after Tax (PAT) for FY17 at Rs. 130.6 Crs. was 15% higher than Rs. 113.6 Crs. in FY16.
FY17 – Consolidated Results: For the year ended 31st March, 2017, the Company’s Total Income at Rs. 2309.9 Crs. was 43%higher than Rs. 1612.9 for the previous year. Profit after Tax (PAT) for the year FY17 at Rs. 145.5 Crs. was 39% higher than Rs. 105.0 Crs in the previous year.
Q4FY17 – Standalone: For the quarter ended March 31, 2017, Total Income at Rs. 315.7 Crs. was 26.3% higher than Rs. 249.9 Crs. in Q4FY16. After making certain provision arising out of our new accounting standards, Profit before Tax (PBT) for Q4 FY17 at Rs. 49.6 Crs. was 10.1% higher than Rs 45.0 Crs in Q4 FY16 and Profit after Tax (PAT) for Q4FY17 at Rs. 31.8Crs. was 4.5% higher than Rs. 30.5 Crs. in Q4FY16.
The Board of Directors announced the issue of bonus shares in the ratio of 1:2 i.e. one bonus equity share for each two fully paid equity shares held. This bonus issue, if approved, by the shareholders will capitalize Rs. 44.4 Crs. out of the total reserve of Rs. 578 Crs. as at 31st March 2017. The Company, along with its subsidiary HCR, has a bouquet of 81 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, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Limited said, “Our focus on enhancing the aspirational value of ‘Club Mahindra’ brand through innovations in creating unique experiences at our resorts and the addition of 5 new resort destinations has helped us build momentum as is evident through significant growth in Member Additions, Resort Revenues and Profits”
Speaking 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, 2017, MHRIL has ~218K vacation ownership members and operates 49 resorts across India and abroad and its subsidiary, Holiday Club Resorts Oy, Finland, a leading vacation ownership company in Europe has ~ 50K members and 32 resorts across Finland, Sweden and Spain.
About Mahindra: The Mahindra Group is a USD 17.8 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries. Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise, Ends