Mahindra Holidays & Resorts India cash flow

Latest FY26

Cash from operations: ₹531cr−14.6% on FY25
Capital spending: ₹421cr+28.9% on FY25
Free cash flow: ₹110cr−62.7% on FY25
Cash from financing: −₹315cr−₹285 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	409	366	337	290
	—	0.5	7.2	2.2	1.4
	—	181	148	132	119
	—	−76.0	−65.1	−63.8	−46.3
	—	−26.9	−44.0	−22.1	−3.2
	—	0.0	0.0	0.0	4.4
	—	55.0	6.3	−6.0	3.6
	—	−14.6	−15.4	−23.2	−17.7
	—	−21.3	−79.2	−22.9	3.1
	—	−164	−17.4	−179	−55.3
	—	41.7	0.0	−4.5	−1.3
	—	713	0.0	0.0	163
	—	−581	0.0	0.0	−215
	—	21.1	0.0	0.0	−6.5
	—	−26.3	0.0	0.0	−26.0
	—	−44.1	−41.9	−7.7	39.1
	—	0.0	0.0	17.1	49.1
	—	0.0	0.0	1.6	−29.8
	—	28.2	161	62.6	63.7
	—	0.0	0.0	193	175
	—	10.9	2.4	−0.6	1.4
	—	0.0	0.0	−0.6	−2.0
Cash from operating activities
	109	140	194	160	170
	—	506	428	416	510
	—	646	621	576	680
	—	115	−0.3	−48.7	−1.8
	—	531	621	624	681
Cash from investing activities
	—	421	326	338	261
	—	29.3	0.1	23.6	4.4
	—	1,282	1,247	0.0	0.0
	—	1,387	1,228	0.0	0.0
	—	2.5	0.0	0.0	12.0
	—	153	414	0.0	0.0
	—	204	320	0.0	0.0
	—	24.7	38.4	56.7	28.8
	—	0.0	0.0	−191	30.2
	—	−213	−401	−449	−210
Cash from financing activities
	—	0.0	2.3	7.1	12.1
	—	215	870	383	241
	—	129	796	260	458
	—	352	317	200	160
	—	50.0	44.9	120	95.8
	—	0.0	0.0	0.0	0.0
	—	0.0	0.0	0.0	1.2
	—	−315	−285	−190	−459
	—	2.2	−64.1	−14.0	12.4
	—	−3.4	−1.7	0.5	1.3
	—	−1.2	−65.8	−13.5	13.7
	—	—	—	103	116
Reference items
	614	617	579	514	472
	19.9%	20.6%	20.8%	19.0%	18.7%
	110	110	295	287	420
	—	307	−1,501	282	—
	₹5.46	₹5.46	₹14.63	₹14.21	₹20.83
	33.78×	—	—	—	—
	—	7.92×	4.93×	5.38×	5.99×
	—	115	−0.3	−48.7	−1.8
	—	50.0	44.9	120	95.8

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

MHRIL₹184.47

Mahindra Holidays & Resorts India Limited

· Consumer Services

₹ CrorePeersJUNIPER ITDC ORIENTHOT BRIGHOTEL TAJGVK EIHAHOTELS VENTIVE ASIANHOTNRMcap ₹3,720 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	290.0	336.6	366.0	409.3	—
+ Impairment Loss / (Reversal)	1.4	2.2	7.2	0.5	—
+ Finance Costs	118.6	132.2	148.2	181.0	—
+ Interest Income	-46.3	-63.8	-65.1	-76.0	—
+ Fair Value (Gains) / Losses	-3.2	-22.1	-44.0	-26.9	—
+ Share-based Payments	4.4	0.0	0.0	0.0	—
+ Unrealised FX (Gain) / Loss	3.6	-6.0	6.3	55.0	—
+ Other Non-cash Items	-17.7	-23.2	-15.4	-14.6	—
Changes in Working Capital
+ Inventories	3.1	-22.9	-79.2	-21.3	—
+ Trade Receivables — Current	-55.3	-178.7	-17.4	-163.9	—
+ Trade Receivables — Non-current	-1.3	-4.5	0.0	41.7	—
+ Other Financial Assets — Current	163.0	0.0	0.0	712.7	—
+ Other Financial Assets — Non-current	-214.7	0.0	0.0	-581.1	—
+ Other Current Assets	-6.5	0.0	0.0	21.1	—
+ Other Non-current Assets	-26.0	0.0	0.0	-26.3	—
+ Trade Payables — Current	39.1	-7.7	-41.9	-44.1	—
+ Other Financial Liabilities — Current	49.1	17.1	0.0	0.0	—
+ Other Financial Liabilities — Non-current	-29.8	1.6	0.0	0.0	—
+ Other Current Liabilities	63.7	62.6	160.6	28.2	—
+ Other Non-current Liabilities	175.0	193.4	0.0	0.0	—
+ Provisions — Current	1.4	-0.6	2.4	10.9	—
+ Provisions — Non-current	-2.0	-0.6	0.0	0.0	—
Cash from Operating Activities
Profit Before Tax (per I/S)	169.9	160.1	193.6	139.5	108.6
+ Total Adjustments (incl. Working Capital)	509.7	415.6	427.6	506.3	—
Cash from Operations (pre-tax)	679.6	575.7	621.2	645.9	—
+ Income Taxes Paid	-1.8	-48.7	-0.3	115.1	—
Cash from Operating Activities	681.4	624.3	621.5	530.8	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	261.3	337.8	326.3	420.6	—
+ Disp of Fixed Assets	4.4	23.6	0.1	29.3	—
+ Purchase of Investments (Equity / Debt)	0.0	0.0	1,247.1	1,281.6	—
+ Sale of Investments (Equity / Debt)	0.0	0.0	1,227.9	1,386.8	—
+ Acq of Subsidiaries / Businesses (net)	12.0	0.0	0.0	2.5	—
+ Loans & Advances Made	0.0	0.0	413.8	153.0	—
+ Loans & Advances Repaid	0.0	0.0	320.1	203.8	—
+ Interest Received — Investing	28.8	56.7	38.4	24.7	—
+ Other Inflows / (Outflows) — Investing	30.2	-191.1	0.0	0.0	—
Cash from Investing Activities	-209.8	-448.7	-400.6	-213.2	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	12.1	7.1	2.3	0.0	—
+ Proceeds from Borrowings	240.7	382.9	870.2	215.2	—
+ Repayment of Borrowings	457.7	259.7	795.6	128.9	—
+ Payment of Lease Liabilities	159.6	199.6	317.0	351.7	—
+ Interest Paid	95.8	120.3	44.9	50.0	—
+ Dividends Paid	0.0	0.0	0.0	0.0	—
+ Other Inflows / (Outflows) — Financing	1.2	0.0	0.0	0.0	—
Cash from Financing Activities	-459.2	-189.6	-284.9	-315.4	—
Net Changes in Cash (pre-FX)	12.4	-14.0	-64.1	2.2	—
+ Effect of FX Rate Changes on Cash	1.3	0.5	-1.7	-3.4	—
Net Changes in Cash	13.7	-13.5	-65.8	-1.2	—
Closing Cash	116.4	102.9	—	—	—
Reference Items
EBITDA	471.6	513.9	578.8	616.6	613.6
EBITDA Margin %	18.74	19.00	20.81	20.61	19.86
Free Cash Flow (CFO − Capex)	420.1	286.5	295.1	110.1	110.1
Free Cash Flow to Equity	—	281.8	-1,500.6	306.6	—
Free Cash Flow per Basic Share	20.83	14.21	14.63	5.46	5.46
Price to Free Cash Flow	—	—	—	—	33.78
Cash Flow to Net Income	5.99	5.38	4.93	7.92	—
Cash Paid for Taxes	-1.8	-48.7	-0.3	115.1	—
Cash Paid for Interest	95.8	120.3	44.9	50.0	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.