Mahindra Holidays Q2 Results Review - Moderate Operationally, Healthy Financially: Dolat Capital

"BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Mahindra Holidays and Resort India Ltd.’s Q2 FY24 operating performance and revenue growth was moderate. Ebitda was healthy led by lower sales and marketing and rent costs. Standalone revenue/ Ebitda/adjusted profit after tax grew by 8.5/13.4/11.9% YoY. Holiday Club Resorts OY was weak with revenue/Ebitda of -1.3/-15.8% YoY in euro. Mahindra Holidays has got reasonably re-rated over the trailing year with ~50% plus returns. We see scope for further re-rating over the next one-two years driven by healthy room additions and consequent member additions. These shall be aided by turnaround in Holiday Club Resorts OY and likely strategic sale in it to recoup investments. Broadly maintain FY24/25 estimates. Reiterate 'Accumulate' with revised target price of Rs 430 at 18 times FY26E enterprise value/Ebitda (earlier Rs 370 at 18 times FY25E EV/E) and nil value to HCRO. Structurally the business is improvising and is a positive. Accelerated member adds is key trigger from hereon. We remain hopeful on it..Click on the attachment to read the full report:.Kotak Mahindra Bank Q2 Review - NIM Impacted By One-Off Items; Smooth Management Transition Key: Nirmal Bang.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Mahindra Holidays Q2 Results Review - Moderate Operationally, Healthy Financially: Dolat Capital

Structurally the business is improvising and is a positive.

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Mahindra Holidays Q2 Results Review - Moderate Operationally, Healthy Financially: Dolat Capital

Structurally the business is improvising and is a positive.

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