Mahindra Holidays & Resorts India share price today

Mahindra Holidays & Resorts India Ltd's share price was ₹191.84 at the close on 4 November 2026. It has been falling for 53 weeks. That is 19.3% below its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 13 weeks running.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Mahindra Holidays & Resorts India Ltd is in stage 4. The phase helps read everything below.

In the last 52 weeks it traded between ₹178 and ₹330, and at that close it sat 9% of the way up from that low.

Over the last 11 years the share price moved +16% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 7 August 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: profit grew again in the September 2026 quarter, foreign funds (FIIs) cut their stake for 3 quarters in a row and revenue up on a year earlier for 6 quarters in a row.

1. Profit grew again in the September 2026 quarter

   Profit was ₹20 crore, +17.6% on a year earlier (₹17 crore), after 3 quarters of decline.

   Why: Profit rose because its Finland resorts lost less money on bookings made in India.

   Next results: check whether rooms closed for renovation reopen and lift resort revenue, since that also supports profit.

   From the earnings call on 21 Oct 2026.

2. Foreign funds (FIIs) cut their stake for 3 quarters in a row

   From 5.5% to 3.4% of the company by the September 2026 quarter.

3. Revenue up on a year earlier for 6 quarters in a row

   In the September 2026 quarter revenue was ₹784 crore, +9.3% on a year earlier.

   Why: Revenue rose because more resort rooms were booked and each room brought in more money.

   From the earnings call on 21 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), Mahindra Holidays & Resorts India reported revenue of ₹784 crore, up 9.3% from ₹717 crore a year earlier, and a profit of ₹20.0 crore, up 17.6% from ₹17.0 crore.

Mahindra Holidays & Resorts India results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Mahindra Holidays & Resorts India's management discussed these results on a call held on 21 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Mahindra Holidays & Resorts India closed at ₹191.84 on 4 November 2026, down 39.8% from ₹318.75 a year earlier (7 November 2025) and down 19.3% over five years. Its highest weekly close since March 2016 was ₹480.80 on 21 June 2024.

Mahindra Holidays & Resorts India share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

562 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Mahindra Holidays & Resorts India closed at ₹191.84, up 7.5% on the week and down 1.5% on the month. 21 Oct 2026: Mahindra Holidays & Resorts India held its results call for July to September 2026. Management guided: Add about 1,000 gross keys over next six months to broaden choice and availability.

Earlier

• Results for July to September 2026: Revenue up 9.3% and profit up 17.6% on a year earlier.

Mahindra Holidays & Resorts India has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

Not in its latest year. Mahindra Holidays & Resorts India Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 5 of its last 13 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 21 October 2026, Mahindra Holidays & Resorts India's management guided: Add about 1,000 gross keys over next six months to broaden choice and availability.

“Upgrades are really a reflection of the confidence our members have in the product, and that is strong growth which we have seen continuously over many quarters.”Manoj Bhatt, on the call for July to September 2026

What management guided

• Reach 10,000 keys by FY30 with about 85% funnel visibility via 8 ongoing Greenfield and Brownfield projects.
• About 442 renovation shutdown keys plus Ganpatipule, Kumbhalgarh and Jaisalmer to return in Q3 to early-Q4; Gir at end-Q4 or early-Q1.
• Exit about 650 keys this year versus about 400 last year as lower-rated reset largely completes.
• Second-half capital spending broadly equal to first half to complete projects; long-term split about 70% new builds and 30% upgrades.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 21 October 2026.

When Mahindra Holidays & Resorts India reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Shutdown rooms returning in third and fourth quarters to lift occupancy and resort revenue - per renovation drag reversal commentary.

Mahindra Holidays & Resorts India is on 2 of our India lists: 52 week high & low and Hotel stocks.

Mahindra Holidays & Resorts India Ltd earned ₹20.0 Cr of net profit in the Sep 2026 quarter, +17.6% on the same quarter a year earlier. Full-year FY26 profit was ₹67.0 Cr. Over 10 years profit has grown −2.9% a year on average. That is 2.6% of the quarter's revenue. The same quarter a year earlier earned ₹17.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹67.0 Cr (−46.8% on the year before).

Why profit moved: revenue changed +9.3% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −88.0% and revenue +7.6%. Profit is growing slower than sales: rising costs are taking part of the growth.

Mahindra Holidays & Resorts India Ltd reported ₹784 Cr of revenue in the Sep 2026 quarter, +9.3% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 6.4% a year on average. The last full year, FY26, came in at ₹2,992 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹3,090 Cr.

FY26 revenue was ₹2,992 Cr, +7.6% on the year before.

Recent pace: the last four quarters grew +7.6% on average, against 6.4% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +7.5%, against +5.8% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −59.8%, against −30.9% a year (rolling over).

Mahindra Holidays & Resorts India Ltd's operating margin was 20.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 8.0% and 25.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.0 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 575% of Mahindra Holidays & Resorts India Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹531 Cr of operating cash against ₹67.0 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹1,101 Cr of spending on assets, free cash was −₹570 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 575% of profit came in as cash: the cash cycle got 148 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 2.4× depreciation over three years. The next section checks what that spending is building.

Mahindra Holidays & Resorts India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 678 days in FY26, up from 530 days in FY21. It spent ₹2,614 Cr on assets over the last 3 years. Customers take 150 days to pay, and stock sits for 876 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,992 Cr, each day of that cycle ties up about ₹8.2 Cr, so roughly ₹5,558 Cr is tied up in the business at any time.

FY26: customers took 150 days to pay and stock sat for 876 days, about 28.8 months of sales sitting as stock, for a full cycle of 678 days, longer than FY21's 530.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 876 days. Customers pay about 150 days after that. Suppliers are paid at 348 days. Together that makes the 678-day cycle.

Spending on assets: ₹2,614 Cr over the last 3 years, against ₹1,112 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹361 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Mahindra Holidays & Resorts India Ltd's P/E is 79.5×, near the high end of its own history: higher than 83% of past readings. Its usual P/E (the middle reading) is 49.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹2.73.