Mahindra Holidays & Resorts India Ltd is a leading player in the leisure hospitality industry. The company is a part of Mahindra Group and is the market leader in the business with over 2.35 lakh members and 55 resorts.Together with its Finnish subsidiary Holiday Club Resorts (HCR) Mahindra Holidays has a bouquet of 88 resorts in Asia and Europe making it the largest vacation ownership company outside the USA. Apart from providing quality rooms in the form of furnished apartments and cottages at resorts in unique and popular destinations Mahindra Holidays offers to its vacation ownership members family-friendly amenities including dining holiday activities spa and wellness facilities for a complete holiday experience.The company offers a range of solutions to their customers with the range of products and services which includes Club Mahindra Holidays Zest Club Mahindra Fundays Mahindra Homestays and clubmahindra.travel. Club Mahindra Holidays is engaged in the vacation ownership business. Zest another product of the company in the vacations ownership space entitles their members short breaks for six nights each year in studio apartments. Club Mahindra Fundays is a corporate product-based on the point-based system. Mahindra Homestays provide the customers with choice of homes across different budget categories and property types. Club Mahindra Travel is a travel integration service for Club Mahindra Holidays' members to take care of their range of travel needs from accommodation to the deals on air tickets complete holiday packages replete with sightseeing tours and meals to documentation requirements. The company provides family holidays primarily through vacation ownership memberships. Their members can choose to stay and holiday at resorts in a range of holiday destinations for a pre-determined number of days in a year for a fixed number of years. Their resorts offer the use of furnished accommodation such as apartments and cottages and an experience through resort specific amenities and facilities such as restaurants ayurvedic spas kids clubs and a variety of holiday activities.Mahindra Holidays & Resorts India Ltd was incorporated on September 20 1996 as a private limited company with the name Mahindra Holidays & Resorts India Pvt Ltd and is engaged in the business of selling vacation ownership and providing holiday facilities. In February 1997 the company acquitted a land at Varca Village Goa. Also they launched their first individual product 'Club Mahindra Holidays Unlimited'. In January 29 1998 the company was converted into public limited company and the name was changed to Mahindra Holidays & Resorts India Ltd.In the year 1998 MMJ Resorts and Holidays Pvt Ltd was amalgamated with the company with effect from April 1 1998. In April 1998 the company opened their first resort at Munnar and in December 1999 they opened their second resort at Goa. In November 2000 the company acquired a land in Binsar and in April 2001 they opened a resort at Manali.In April 2001 Mahindra Sega Entertainment Corporation Ltd was amalgamated with the company with effect from April 1 2001. In December 2002 the company acquired land in Coorg. In January 2003 they opened their first Club Mahindra Holiday World in Chennai. In March 2005 they entered into long-tern lease for an international resort in Pattaya Thailand. Also they opened Club Mahindra Kodagu Valley resort in Coorg Karnataka. During the year 2006-07 the company strengthened their distribution network by opening a new office in Chandigarh and more Holiday Worlds and franchisees in newer locations. They acquired an existing resort in Kumbalgarh. M H R Hotel Management GmbH became the subsidiary of the company. In August 2006 the company executed an agreement with Ashtamudi Resorts Pvt Ltd wherein the entire share capital of Ashtamudi Resorts Pvt Ltd was purchased by the company. In October 2006 they launched 'Club Mahindra Fundays'. In December 2006 the company launched 'Zest' a product to cater to short break holiday needs. In January 2007 they launched clubmahindra.travel their travel related services. During the year 2007-08 Ashtamudi Resorts Pvt Ltd was amalgamated with the company with effect from July 1 2007. They acquired lands at Kadapakkam in Tamil Nadu Kas in Maharashtra and Theog in Himachal Pradesh. Also they signed an MoU with Government of West Bengal for promotion of tourism in that State. In April 2007 Mahindra Hotels and Residences India Limited was incorporated to carry out the business of hotels and restaurants including ancillary activities such as interior decoration recreational facilities and travel agency.In May 2007 the company opened Club Mahindra Backwater Retreat at Ashtamudi.In December 2007 the company opened their fist resort in Rajasthan namely 'Club Mahindra Fort Kumbalgarh'. In March 3 2008 Heritage Bird (M) Sdn Bhd became a wholly owned subsidiary of the company. The principal activity of the company is purchasing maintaining and leasing resorts.During the year 2008-09 the company launched a unique and innovative product 'Mahindra Homestays' in the UK. The company acquired 3 new properties at Thekkady Ooty and Naukuchiatal. Also they opened six Holiday Worlds in Jaipur Mumbai Pune Delhi Lucknow and Kolkata thereby expanding their sales network across the country.In May 2008 the company launched Zest @ Big Beach Puduchery first signature resort for Zest. In July 2008 they launched Mahindra Homestays. In September 2008 the company entered into a strategic alliance with Kerala Government for a period of 5 years to develop promote and market homestays overseas and in India. In October 2008 they opened Thekkady resort for customers.During the year 2009-10 the network of the company's resorts was expanded with new locations such as Gangtok Corbett and Mashobra. They expanded their existing properties at Coorg Binsar and Ashtamudi and added a second smaller resort in Goa. The company entered into jungle tourism with MOUs signed for resorts in Gujarat and Madhya Pradesh. Also they set up log huts in Binsar and floating cottages at Ashtamudi.During the year the company successfully completed an IPO of 92.65 lakh equity shares which was oversubscribed by more than 9 times. The shares were listed on the NSE and the BSE on 16th July 2009. The company introduced innovative and interesting facilities for their customers which includes the launch of Svaastha spa at Coorg Puducherry and Kumbalgarh. They also introduced a 'Gourmet express' option in their dining programme in some of their resorts. In January 11 2010 the company incorporated a subsidiary company namely BAH Hotelanlagen AG to carry out the business of hotels tourism and related activities.The company was awarded the status of a Business Superbrand in 2009 by the Brand Council of India and the flagship brand 'Club Mahindra Holidays' was selected as a Consumer Superbrand. Club Mahindra.travel was approved as an 'ACTIVE' Member of Travel Agents Association of India for the year 2009-10.As a part of their strategy for growth Mahindra Holidays plans to enter new segments by offering innovative products aimed at the different needs of specific socio-economic and varied age segments of consumers. They also started working on revamping their Club Mahindra website using Web 2.0 technology. They have initiated the process of getting the ISO 27001 certification for the IT department and expect this to be completed during 2010-11.During 2013-14 the Company had successfully carried out an Institutional Placement Programme (IPP) and allotted the shares to Qualified Institutional Buyers (QIBs) under Chapter VIII-A of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009 as amended from time to time in order to meet the minimum public shareholding requirements of 25%. The Company had issued and allotted 4141084 Equity Shares of Rs. 10 each at a premium of Rs. 245 per share aggregating to Rs. 10560 lakh to QIBs under IPP. During the year under review the Company completed the utilisation of funds raised from the IPP towards the objects of the issue.Bell Tower Resorts Private Limited (BTRPL) a wholly owned subsidiary company of the Company was amalgamated with the Company with effect from July 31 2014 being the date of filing the Orders of Hon'ble High Courts of Bombay at Goa and Madras with the Registrar of Companies at Goa and Chennai respectively. Consequent to the above BTRPL ceased to be subsidiary of the Company and all the assets and liabilities of BTRPL have been transferred to and vested in the Company pursuant to the Scheme of Amalgamation and Arrangement with effect from April 1 2013. There was no allotment of shares to the BTRPL equity shareholders since the BTRPL was a wholly owned subsidiary of the Company. The amalgamation has been accounted under the `pooling of interest method' referred in Accounting Standard 14 and the assets and liabilities transferred have been recorded at their book values as on the Appointed Date. Further difference of Rs. 3061 lakh between value of assets and liabilities acquired at their book value at the Appointed Date as reduced by carrying value of investment in the books of the Company was adjusted in the Amalgamation and Reserve Account and the same was transferred to Securities Premium Account on the Appointed Date as per the approved Scheme. Further the loss of Rs. 870 lakh of BTRPL for the year ended March 31 2014 has been adjusted against the surplus in the Statement of Profit and Loss at the beginning of the year.The Board approved the Scheme of Amalgamation and Arrangement for merger of Competent Hotels Private Limited Divine Heritage Hotels Private Limited and Holiday on Hills Resorts Private Limited wholly owned subsidiaries of the Company with the Company in FY 2015. These Subsidiary Companies own and operate resort properties at Manali (Himachal Pradesh) Kandaghat (Himachal Pradesh) and Jaisalmer (Rajasthan) respectively. The Board felt that it is in the best interest of the Company to merge these Subsidiary Companies with the Company so as to benefit from operational and managerial synergies in the form of economies of cost enhancing flexibility and pooling of managerial resources. The Appointed Date of the Scheme is April 1 2015 and the Scheme shall be effective from the last of the dates on which the certified or authenticated copies of the Orders of the Hon'ble High Courts of Delhi Rajasthan at Jaipur Himachal Pradesh and Madras are filed with the respective Registrar of Companies. Subsequent to approval of the Scheme by the Board the Company has obtained letters from BSE Limited and National Stock Exchange of India Limited conveying that they have no objections / no adverse observations in respect of the same and the Company is in the process of filing necessary application with the Hon'ble High Court of Madras for obtaining necessary directions to convey the meetings of Shareholders of the Company for taking their approval on aforementioned merger.During the year 2016-17 the company increased its stake in Holiday Club Resorts Oy Finland (HCR) from 85.61% to 91.94% on account of acquisition of additional shares in line with the agreements executed with the shareholders of HCR. Subsequently during the month of April 2017 the stake was further increased to 95.16%.In FY 2016-17 the Company made a strategic investment by acquiring 12% stake in Nreach Online Services Private Limited (Nreach). Nreach is a leading tech-enabled marketplace which provides widest range of experiences and activities including travel & adventure gourmet dinning health & wellness art & learning and other interesting things to do in and around city or in travel destinations under its flagship brand name Xoxoday (earlier known as Giftxoxo).During the year 2017 Mahindra & Mahindra Limited (M&M) holding company of the Company has sold 6658565 Equity Shares in the open market representing 7.5% of the share capital of the Company and consequently the shareholding of M&M in the Company has come down from 75% to 67.5% of the total share capital of the Company as of March 31 2017. The Company continues to be a subsidiary company of M&M and accordingly all subsidiary companies of the Company are consequently subsidiary companies of M&M. The Board of Directors at their meeting held on 19 May 2017 has approved issue of Bonus Shares in the proportion of 1 Bonus Equity Share of Rs 10/- each for every 2 fully Paid-up Equity Shares held as on the Record Date subject to approval by the Members of the Company. Accordingly the Securities Allotment Committee of the Board of Directors of the Company on July 12 2017 allotted 44417928 Bonus Equity Shares to the Shareholders of the Company holding shares as on July 11 2017 (Record Date).During the year 2018 the Company has provided Corporate Guarantee of Euro 4.75 million on behalf of its subsidiary MHR Holdings (Mauritius) Limited Mauritius (MHR Holdings) as a collateral security towards the financial facilities (funded / non-funded) availed by MHR Holdings from a Bank.During the year 2018 the Company has increased its stake in Holiday Club Resorts Oy Finland (HCR) from 91.94% to 95.16% on account of acquisition of additional shares in line with the agreements executed with the shareholders of HCR.