Mahindra Holidays & Resorts India Limited

BSE: MHRIL533088ISIN INE998I01010

Consumer Discretionary
Hotels & Resorts
BSE 1000

Share price

₹191.45+4.90 (+2.63%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹345.25
52W low: ₹177.20
Off 52W high: -44.55%
1M return: -1.64%
3M return: -18.11%
6M return: -20.94%
1Y return: -42.21%
20D avg volume: 14,888
50 DMA: ₹197.79
200 DMA: ₹237.48

Key ratios Consolidated

Market cap: ₹3,869 Cr
Current price: ₹191.45
52W high / low: ₹345.25 / ₹177.20
Face value: ₹10.00
P/E: 71.57
P/B: 4.88
EPS (TTM): ₹2.67
Book value / share: ₹39.24
ROE: —
ROCE: 3.60%
Operating margin: —
Net margin: —
Debt / equity: 1.57
Net debt: ₹1,198 Cr
Interest cover: 1.77
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 211.3 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	784.13	732.81	820.29	752.70	717.34	701.40	778.83	678.42	670.75	652.86	800.19	634.82
	35.55	40.73	23.70	29.77	32.11	38.75	28.33	31.97	35.43	33.23	30.15	31.50
	819.68	773.54	843.98	782.47	749.45	740.15	807.16	710.39	706.18	686.09	830.34	666.33
	784.72	776.48	778.65	760.18	713.33	713.33	704.70	662.69	677.36	671.45	720.86	660.15
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	218.74	223.09	212.97	217.33	187.93	194.74	200.59	195.56	184.28	191.20	192.19	187.22
	53.44	47.07	46.95	47.24	48.13	38.73	38.38	36.96	37.54	35.30	22.43	44.91
	106.55	109.40	108.63	104.42	100.60	95.64	91.87	92.99	92.48	88.66	86.03	85.54
	406.00	396.92	410.09	391.20	376.67	384.21	373.86	306.66	316.59	311.58	334.67	314.38
	34.96	-2.94	65.33	22.29	36.13	26.83	102.46	47.70	28.82	14.63	109.48	6.17
	0.00	0.00	0.00	-11.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	34.96	-2.94	65.33	11.22	36.13	26.83	102.46	47.70	28.82	14.63	109.48	6.17
	14.42	5.36	23.83	10.13	18.57	19.12	29.46	12.54	16.63	7.95	25.90	4.23
	19.72	-8.56	41.49	1.41	16.94	7.17	72.95	35.42	11.49	6.09	83.20	10.53
	0.99	-0.43	2.06	0.11	0.89	0.39	3.63	1.73	0.68	0.29	4.09	0.58
Key metrics
	194.95	153.53	220.91	162.88	184.86	161.20	232.71	177.65	158.84	138.59	217.94	136.62
	24.90%	21.00%	26.90%	21.60%	25.80%	23.00%	29.90%	26.20%	23.70%	21.20%	27.20%	21.50%
	2.50%	-1.20%	5.10%	0.20%	2.40%	1.00%	9.40%	5.20%	1.70%	0.90%	10.40%	1.70%
	0.90%	—	1.30%	—	1.00%	—	1.60%	—	—	—	—	—
	9.30%	4.50%	5.30%	10.90%	6.90%	7.40%	-2.70%	6.90%	—	—	—	—
	16.40%	-219.40%	-43.10%	-96.00%	47.40%	17.70%	-12.30%	236.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	3,090	2,992	2,781	2,705	2,517	2,013
	129.75	124.32	128.96	114.99	106.90	165.55
	3,220	3,116	2,910	2,820	2,624	2,179
	3,100	2,965	2,716	2,659	2,454	2,068
	0.00	0.00	0.00	—	—	—
	0.00	0.00	0.00	—	—	—
	872.13	812.97	771.63	742.94	655.89	557.19
	194.70	181.05	148.17	132.21	118.62	99.37
	429.00	409.29	366.00	336.62	290.00	270.75
	1,604	1,562	1,430	1,243	1,188	974.61
	119.64	150.58	193.62	160.09	169.90	110.54
	-11.06	-11.06	0.00	0.00	0.00	0.00
	108.57	139.51	193.62	160.09	169.90	110.54
	53.74	71.65	66.59	43.46	56.83	42.92
	54.06	67.00	125.95	116.06	113.82	67.64
	2.73	3.45	6.33	5.74	5.75	3.38
Key metrics
	732.27	729.85	707.79	628.92	578.52	480.66
	23.70%	24.40%	25.50%	23.30%	23.00%	23.90%
	1.75%	2.20%	4.50%	4.30%	4.50%	3.40%
	—	3.60%	3.90%	—	—	—
	7.44%	7.60%	2.80%	7.50%	25.00%	—
	-59.19%	-46.80%	8.50%	2.00%	68.30%	—
	—	110.14	295.12	—	—	—
	—	7.92	4.93	—	—	—
	—	1.57	1.25	—	—	—
	—	1,198	950.39	—	—	—
	—	211.3	194.6	—	—	—
Balance sheet
	—	11,385	10,614	—	—	—
	—	3,757	3,026	—	—	—
	—	35.93	37.10	—	—	—
	—	1,229	1,141	—	—	—
	—	833.23	694.21	—	—	—
	—	195.95	0.00	—	—	—
	—	5,574	4,864	—	—	—
	—	331.34	352.94	—	—	—
	—	2,470	1,904	—	—	—
	—	1,234	987.49	—	—	—
	—	727.78	205.83	—	—	—
	—	506.20	781.66	—	—	—
	—	783.65	788.74	—	—	—
Cash flow
	—	530.76	621.46	—	—	—
	—	-213.18	-400.61	—	—	—
	—	-315.37	-284.93	—	—	—
	—	420.62	326.34	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	354.30	379.73	376.94	379.46	344.17	368.66	361.34	359.93	328.06	350.97	343.02	335.71
	41.00	43.76	30.06	35.52	36.50	41.96	36.66	31.49	42.97	33.50	31.68	37.28
	395.30	423.48	407.00	414.98	380.67	410.62	398.00	391.42	371.02	384.47	374.70	372.99
	336.71	350.59	331.79	330.07	309.67	307.91	322.10	322.67	307.30	323.25	330.41	301.27
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	110.22	112.85	104.65	105.81	94.32	98.16	103.26	100.66	98.17	96.91	92.45	89.55
	16.37	17.72	15.91	14.75	21.74	13.20	11.66	12.04	10.98	9.49	8.11	8.38
	49.35	51.02	51.02	49.39	47.79	45.04	44.15	46.24	44.79	42.77	40.64	40.28
	160.78	169.01	160.21	160.12	145.82	151.51	163.04	163.73	153.36	174.08	189.21	163.05
	58.59	72.89	75.21	84.91	71.00	102.71	75.90	68.75	63.72	61.21	44.29	71.72
	0.00	0.00	-233.70	-10.91	0.00	0.00	0.00	—	—	—	—	—
	58.59	72.89	-158.49	74.01	71.00	102.71	75.90	68.75	63.72	61.21	44.29	71.72
	15.33	18.58	19.77	19.07	19.34	26.48	18.40	18.02	16.66	16.01	10.94	3.68
	43.26	54.31	-178.26	54.93	51.65	76.23	57.49	50.73	47.06	45.20	33.35	68.04
	2.14	2.69	-8.84	2.72	2.56	3.78	2.85	2.52	2.34	2.24	1.66	3.38
Key metrics
	124.31	141.63	-91.56	138.15	140.53	160.95	131.71	127.03	119.49	113.47	93.04	120.38
	35.10%	37.30%	-24.30%	36.40%	40.80%	43.70%	36.50%	35.30%	36.40%	32.30%	27.10%	35.90%
	12.20%	14.30%	-47.30%	14.50%	15.00%	20.70%	15.90%	14.10%	14.30%	12.90%	9.70%	20.30%
	1.00%	—	-2.00%	—	1.30%	—	1.30%	—	—	—	—	—
	2.90%	3.00%	4.30%	5.40%	4.90%	5.00%	5.30%	7.20%	—	—	—	—
	-16.20%	-28.80%	-410.10%	8.30%	9.80%	68.70%	72.40%	-25.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	1,490	1,469	1,400	1,314	1,196	960.68
	150.34	144.04	144.61	120.08	109.38	110.04
	1,641	1,613	1,545	1,434	1,306	1,071
	1,349	1,279	1,275	1,211	1,092	867.20
	0.00	0.00	0.00	—	—	—
	0.00	0.00	0.00	—	—	—
	433.53	402.93	398.99	351.66	301.93	248.62
	64.75	65.60	44.16	33.67	29.13	21.16
	200.78	193.25	177.96	158.72	139.09	119.89
	650.12	617.66	654.21	666.86	621.36	477.53
	291.60	333.83	269.58	223.20	214.06	203.53
	-244.61	-244.60	0.00	—	—	—
	47.00	89.22	269.58	223.20	214.06	203.53
	72.75	84.67	69.10	42.56	55.48	52.22
	-25.76	4.55	200.48	180.65	158.58	151.31
	-1.29	0.23	9.95	8.98	7.92	7.58
Key metrics
	312.53	348.07	491.70	415.59	382.28	344.58
	20.97%	23.70%	35.10%	31.60%	32.00%	35.90%
	-1.73%	0.30%	14.30%	13.70%	13.30%	15.80%
	—	2.20%	4.50%	—	—	—
	3.93%	4.90%	6.60%	9.90%	24.50%	—
	-110.91%	-97.70%	11.00%	13.90%	4.80%	—
	—	-6.50	180.89	—	—	—
	—	71.49	2.22	—	—	—
	—	0.00	0.00	—	—	—
	—	-12.92	-10.59	—	—	—
	—	238.2	218.3	—	—	—
Balance sheet
	—	8,323	8,165	—	—	—
	—	2,734	2,161	—	—	—
	—	12.92	10.59	—	—	—
	—	1,124	1,053	—	—	—
	—	6.43	6.70	—	—	—
	—	158.20	142.18	—	—	—
	—	3,450	2,969	—	—	—
	—	171.88	222.13	—	—	—
	—	1,134	1,166	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	1,218	1,288	—	—	—
Cash flow
	—	325.28	445.47	—	—	—
	—	-190.42	-332.86	—	—	—
	—	-132.53	-129.36	—	—	—
	—	331.78	264.58	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +7.09%
Sales CAGR 5Y: —
Profit CAGR 3Y: -69.39%
Profit CAGR 5Y: —
Sales YoY (TTM): +3.93%
Profit YoY (TTM): -110.91%

Consolidated

Sales CAGR 3Y: +5.93%
Sales CAGR 5Y: —
Profit CAGR 3Y: -16.19%
Profit CAGR 5Y: —
Sales YoY (TTM): +7.44%
Profit YoY (TTM): -59.19%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 66.73%

Quarter	September 2026	June 2026
Promoter %	66.73%	66.73%

Holder	Type	Holding	Previous	Change
Mahindra and Mahindra Limited	Promoter	66.73%	66.73%	0.00%
3P INDIA EQUITY FUND 1	Public	4.21%	4.21%	0.00%
GOVERNMENT PENSION FUND GLOBAL	Public	2.60%	2.60%	0.00%
HDFC MUTUAL FUND - HDFC DIVIDEND YIELD FUND	Public	1.98%	2.10%	-0.12%
UTI AGGRESSIVE HYBRID FUND	Public	1.61%	1.59%	+0.02%
3P INDIA EQUITY FUND 1M	Public	1.39%	1.39%	0.00%
VIJAY KISHANLAL KEDIA	Public	1.00%	1.00%	0.00%
Tech Mahindra Limited	Promoter Group	0.00%	0.00%	0.00%
Mahindra Overseas Investment Company (Mauritius) Limited	Promoter Group	0.00%	0.00%	0.00%
Quest Hybren Private Limited	Promoter Group	0.00%	0.00%	0.00%
M.I.T.R.A. Agro Equipments Private Limited	Promoter Group	0.00%	0.00%	0.00%
Mahindra Holdings Limited	Promoter Group	0.00%	0.00%	0.00%
Gromax Agri Equipment Limited	Promoter Group	0.00%	0.00%	0.00%
Mahindra Aerospace Australia Pty. Limited	Promoter Group	0.00%	0.00%	0.00%
Mahindra Vehicle Sales and Service Inc.	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
THE INDIAN HOTELS COMPANY LTD	1,20,664	847.70	50.91	17.40%	+15.38% TTM	+28.63% TTM	+14.02%
ITC Hotels Limited S	36,123	173.40	39.59	9.00%	+44.67% TTM	+61.15% TTM	-19.37%
Leela Palaces Hotels & Resorts Limited	22,180	664.15	47.91	8.30%	—	—	+50.89%
EIH Ltd	18,720	299.35	25.27	15.30%	+8.34% TTM	+4.32% TTM	-25.02%
Chalet Hotels Limited	17,904	817.55	33.91	16.60%	+6.05% TTM	+85.29% TTM	-14.93%
Ventive Hospitality Limited	12,266	525.20	22.00	9.70%	+14.78% TTM	+93.64% TTM	-28.48%
Lemon Tree Hotels Limited	9,154	115.55	30.76	13.40%	+10.46% TTM	+9.75% TTM	-31.22%
India Tourism Development Corporati	5,346	623.30	65.18	27.00%	-9.37% TTM	+3.60% TTM	+1.50%
Juniper Hotels Limited	4,495	202.00	27.10	7.20%	+11.51% TTM	+141.72% TTM	-25.02%
Mahindra Holidays & Resorts India Limited	3,869	191.45	71.57	3.60%	+7.44% TTM	-59.19% TTM	-42.21%
Samhi Hotels Limited	3,527	158.60	6.87	11.00%	+12.39% TTM	+173.63% TTM	-20.28%
Oriental Hotels Ltd.	2,992	167.50	44.49	12.60%	+6.85% TTM	+36.00% TTM	+39.00%
Apeejay Surrendra Park Hotels Limited	2,189	102.58	42.08	8.10%	-17.91% TTM	-47.42% TTM	-30.78%
Brigade Hotel Ventures Limited	2,095	55.15	24.32	11.00%	—	—	-33.00%
Taj GVK Hotels & Resorts Ltd.	1,973	314.65	4.74	27.10%	+26.10% TTM	+262.99% TTM	-23.41%
EIH Associated Hotels Ltd. S	1,720	282.20	19.57	18.10%	-7.64% TTM	-6.96% TTM	-25.89%
Benares Hotels Ltd S	1,352	10,402.50	30.47	26.20%	+13.68% TTM	+2.59% TTM	+11.22%
Asian Hotels (North) Limited S	1,269	297.55	-13.76	-5.30%	+6.76% TTM	-146.35% TTM	-11.88%
Viceroy Hotels Ltd. S	1,085	141.35	48.74	6.00%	+4.91% TTM	-68.97% TTM	—
Mac Charles (India) Ltd.	856	653.55	-7.28	1.00%	+169.02% TTM	-96.03% TTM	-5.27%
U.P. Hotels Ltd. S	813	1,505.05	25.65	19.90%	+1.45% TTM	-6.02% TTM	-5.93%
Royal Orchid Hotels Ltd	782	285.00	27.02	4.30%	+26.86% TTM	-42.13% TTM	-40.82%
Kamat Hotels (India) ltd.	686	232.80	13.29	13.90%	+11.35% TTM	+31.58% TTM	-20.42%
Advent Hotels International Limited	633	117.30	14.93	7.50%	—	—	—
Asian Hotels (West) Ltd	551	473.15	7.75	31.00%	+8.19% TTM	+135.00% TTM	—

Filings & corporate actions

Recent announcements

Please refer the attached file.2 Nov 2026 · Company Update / Cessation
Please refer the attached file.27 Oct 2026 · Company Update / Earnings Call Transcript
Please refer the attached file.26 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please refer the attached file.22 Oct 2026 · Company Update / Newspaper Publication
Please refer the attached file.21 Oct 2026 · Company Update / Analyst / Investor Meet
Please refer the attached file21 Oct 2026 · Company Update / Press Release / Media Release (Revised)
Please refer the attached file.21 Oct 2026 · Company Update / Investor Presentation
Please refer attached file.21 Oct 2026 · Company Update / Press Release / Media Release
Outcome of Board Meeting - Unaudited Standalone and Consolidated Financial Results of the Company for the second quarter and half year ended 30 September 202621 Oct 2026 · Result / Financial Results
Outcome of Board Meeting - Unaudited Standalone and Consolidated Financial Results of the Company for the second quarter and half year ended 30 September 202621 Oct 2026 · Board Meeting / Outcome of Board Meeting
Please refer attached file15 Oct 2026 · Company Update / Change in Management
Please refer the attached file.15 Oct 2026 · Company Update / Newspaper Publication
Allotment of shares pursuant to exercise of ESOPs.5 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Please refer the attached file.5 Oct 2026 · Company Update / Analyst / Investor Meet
Please refer the attached file1 Oct 2026 · Company Update / General
Please refer the attached file.29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Mahindra Holidays & Resorts India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 21/10/2026 ,inter alia, to consider and approve unaudited ....29 Sep 2026 · Board Meeting / Board Meeting
Please refer the attached file.16 Sep 2026 · Company Update / Analyst / Investor Meet
Allotment of shares pursuant to exercise of ESOPs.3 Sep 2026 · Company Update / Allotment of ESOP / ESPS
Please refer the attached file.2 Sep 2026 · Company Update / General
Please refer the attached file.26 Aug 2026 · Company Update / General
Please refer the attached file.17 Aug 2026 · Company Update / Newspaper Publication
Please refer the attached file.31 Jul 2026 · Company Update / General
Please refer the attached file.28 Jul 2026 · Company Update / General
Please refer the attached file.28 Jul 2026 · Company Update / Earnings Call Transcript
Please refer the attached file.23 Jul 2026 · Company Update / Analyst / Investor Meet
Please refer the attached file.23 Jul 2026 · Company Update / Newspaper Publication
Scrutinizer''s Report of the 30th Annual General Meeting along with voting results22 Jul 2026 · AGM/EGM / AGM
Proceedings of the 30th Annual General Meeting22 Jul 2026 · AGM/EGM / AGM
Please refer the attached file.22 Jul 2026 · Company Update / Investor Presentation
Please refer attached file.22 Jul 2026 · Company Update / Press Release / Media Release
Appointment of Internal Auditor22 Jul 2026 · Company Update / General
Unaudited Standalone and Consolidated Financial Results for the Quarter ended 30th June 202622 Jul 2026 · Result / Financial Results
Outcome of Board Meeting - Unaudited Standalone and Consolidated Financial Results of the Company for the first quarter ended 30th June 202622 Jul 2026 · Board Meeting / Outcome of Board Meeting
Please refer the attached file.8 Jul 2026 · Company Update / Analyst / Investor Meet
Please refer the attached file.8 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Please refer the attached file.30 Jun 2026 · Company Update / General
Cessation of Internal Auditor30 Jun 2026 · Company Update / General
Cessation of Internal Auditor30 Jun 2026 · Company Update / General
Please refer the attached file.30 Jun 2026 · Insider Trading / SAST / Closure of Trading Window

Board meetings

21 Oct 2026 Board Meeting - Financial Results
22 Jul 2026 Board Meeting - Financial Results