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You are here : IndiaNotes >> Research & Analysis >> Companies >> Mahindra Holidays & Resorts India Ltd. >> Research

Mahindra Holidays & Resorts India Q2FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 13 Dec, 2016  | Follow Author | Add to my Favourites 
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SYNOPSIS:

  • Mahindra Holidays & Resorts India Ltd (MHRIL), India’s leading player in the leisure hospitality industry, offers quality family holidays primarily through vacation ownership memberships.

  • During Q2 F Y17, the company’s net profit increased by 22.02% and stood at Rs. 328.68 mn as against Rs.269.36 mn in Q2 FY16.

  • Revenue for the quarter rose by 10.02% to Rs.2580.72 mn from Rs. 2345.61 mn, when compared with the prior year period.

  • During Q2 FY17, EBIDTA is Rs. 644.83 mn as against Rs. 572.82 mn in the corresponding period of the previous year, up by 12.57%.

  • During Q2 FY17, PBT increased by 23.56% to Rs.492.10 mn from Rs. 398.27 mn in Q2 FY16.

  • EPS of the company stood at Rs. 3.73 a share in Q2 FY17 as against Rs. 3.06 in the corresponding quarter of the previous year.

  • The company added 4,314 members during the quarter and cumulative member base at 207k~.

  • Revenues for H1 FY2016-17 increased to Rs.5077.41 mn from Rs. 4655.91 mn in H1 FY2015-16.

  • During the H1 FY17, Net Profit stood at Rs. 631.12 mn as compared to Rs. 521.33 mn in the previous year same period, up by 21.06%.

  • Net Sales and PAT of the company are expected to grow at a CAGR of 11% and 13% over 2015 to 2018E respectively.

 

OUTLOOK AND CONCLUSION:

  • At the current market price of Rs.395.20, the stock P/E ratio is at 25.95 X FY17E and 22.70 X FY18E respectively.

  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 15.23 and Rs. 17.41 respectively.

  • Net Sales and PAT of the company are expected to grow at a CAGR of 11% and 13% over 2015 to 2018E respectively.

  • On the basis of EV/EBITDA, the stock trades at 12.80 X for FY17E and 11.65 X for FY18E.

  • Price to Book Value of the stock is eXpected to be at 4.22 X and 3.56 X for FY17E and FY18E respectively.

  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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