MHRIL

V 4 Clulalvtahtndra April 25, 2023 MHRIL/SE/23-24/11 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers Bandra-Kurla Complex Dalal Street, Fort Bandra E, Mumbai – 400 051 Mumbai – 400 001 Symbol: MHRIL Scrip Code: 533088 Dear Sir/ Madam, Sub: Presentation on Financial Results for the fourth quarter and financial year ended March 31, 2023 Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), please find enclosed a presentation on Financial Results of the Company for the fourth quarter and financial year ended March 31, 2023 to be made to the Investors / Analysts. The aforesaid presentation is also being hosted on the website of the Company www.clubmahindra.com in accordance with Regulation 46 of the SEBI Listing Regulations. Kindly take the same on record. Thanking you, Yours faithfully, For Mahindra Holidays & Resorts India Limited Dhanraj Mulki General Counsel & Company Secretary Encl: As above Mahindra Holidays & Resorts India Limited Corporate Office: Mahindra Tower, 1st Floor, "A' Wing, Dr. G.M. Bhosle Marg, P.K. Kurne Chowk, Worli, Mumbai - 400 018. t: +91 22 6918 4722 Registered Office : Mahindra Tower, 2nd Floor, 17/18 Patullos Road, Chennai - 600 002 t +91 44 3504 1000 f +91 44 3504 7778 e: memberrelations@clubmahindra.com / www.clubmahindra.com / CIN: L55101TN1996PLC036595 r INDIA'S INDIA'S . 331 ,V RANK #20 or RANK 4IS1 C TOP SO INDIA'S RE ST ‘ 14/ fp"' MOS R T E P S O O P R U T L AR % 4,, G" BE IN S T H W OS O P R IT K A P LI L T A Y C ES I o fr C I O N M D P IA A 'S N I B E E S S T T O E° W A O S R IA K ' P S L B A E C S E T S , '411 U 6 . - BUIL W D O IN R G KP A L C A U C L E T S U RE u A U l ClubMahindra 't OF INNOVATION BY C' 4.,) CHAIN do 4 2021 /3 2022 4WORK FOR, 2022 41. .„v 2022 44., ALL -LARGE, 2023 ' TINES TRAVEL AWARD 2019 GREAT PLACE TO WORE' IINGTITVTE GREAT PLACE TO WORE* INSTITUTE GREAT PLACE TO WORE' INSTITUTE GREAT PLACE TO YANK' 11115TITUTE MAHINDRA HOLIDAYS & RESORTS INDIA LTD. Q4 & FY23 INVESTOR PRESENTATION 25th APRIL 2023 NALDEHR A BIN SAP HIMACHAL PRADESH LITTARAKHAND Ac Outline 4 CLubMahindm Highlights - Q4 Et FY23 (Standalone) Performance 1 03 MHRIL - Key Trends Et Business Environment 1 20 - Unique 8- Profitable Vacation Ownership Business 1 25 - Long-Term Value Creation I 33 - ESG Initiatives 39 Holiday Club Resorts - Business Model 43 - Q4 8- FY23 Performance 49 MHRIL Consolidated - Q4 Er FY23 Financials 53 MHRIL - Historical Performance 59 r A e 4 CLubMahindm Highlights Q4 & FY23 (Standalone) 11111111illig Performance - - 7 7- 7. • . . • ._ . • ._ • • _ . . - CLUB MAHINDRA ASHTAMUDI . - ' • - - = KERALA .Nr _ • Significant Operational Performance improvement in FY23 art CLubMahindra Momentum in Growing Resort Inventory 111 Membership Sales Increased Upgrades Revenues Acceleration AUR Inventory addition of 372 Strong occupancy2 of 84% Member Additions at Highest ever Upgrades keys to expand the base to vs 74% last year 17,477 (+37% YoY) at Rs. 188 Crs (+71% YoY) 4,940 keys at 102 resorts Highest ever occupied Average Unit Realization Horizon Exchange Program room nights (+49% YoY) (AUR)1 at Rs. 4.2 lakhs vs (388 Partner hotels) Rs. 3.4 lakhs last year enhanced choice of Rising member spends3 destinations through F8-13, activities, Spa ► J 11 ••• Note: 1. Average Unit Realization includes Upgrades; 2. Occupancy as a % of Operational Room Inventory; 3. Member spends per occupied room night MHRIL Financial Performance Highlights - FY23 V • Highest ever MHRIL Standalone (excl. one-offs)l- o Resort Income at Rs. 323 Crs (+67% YoY) o Total Income at Rs. 1,275 Crs (+24% YoY) o EBITDA at Rs. 352 Crs (+18% YoY) o PBT at Rs. 183 Crs2 (+17% YoY) # ClubMahindra • Membership Sales3 at Rs. 734 Crs (+70% YoY) • Deferred Revenue stands at Rs. 5,326 Crs (+Rs. 244 Crs) • Cash position at Rs. 1,158 Crs. 5 Note: 1. Refer slide 17 for details on one-offs; 2. Post adoption of Ind As 115; 3. Membership Sales Value includes Upgrades AP Strong Performance in FY23 4 CLubMahindm Member Base Room Inventory PBT excl. one-offs3 372 17,477 (+37% YoY) Rs. 183 Crs (+17% YoY) Room Additions Highest ever4 Member Additions 2,81,820 4,940 14.4% Cumulative Member Base Room Inventory PBT Margin Membership Sales Value1 Resort Performance Great Place to Work Certified Top 50 - Large Rs. 734 Crs (+70% YoY) 84% Best Workplaces„ India's Best Occupancy2 Building a Culture of Innovation by All Workplaces Great Place 'Building a Culture Rs. 4.2 lakhs (+24% YoY) Rs. 323 Crs (+67% YoY) To Work. - of Innovation by Highest ever Average Unit Realization (AUR) All', 2023 Note: 1. Sales Value and Average Unit Realization .ncludes Upgrades.; 2. Occupancy as a % of Operational Room Inventory; 3. Refer slide 17 for details; 4. Post adoption of Ind As 115 Ac Strong Performance continues in Q4 4 CLubMahindm Member Base Room Inventory Income excl. one-offs3 256 5,097 Rs. 332 Crs (+26% YoY) Room Additions Member Additions Highest ever in 4th quarter 2,81,820 4,940 +20% YoY Cumulative Member Base Room Inventory Growth Membership Sales Value1 Resort Performance PBT excl. one-offs3 Rs. 206 85% Rs. 38 Crs (+33% YoY) Crs (+18% YoY) Occupancy2 Highest ever4 in Quarter 4 th Rs. 4.0 lakhs (+6% YoY) Rs. 80 Crs (+40% YoY) 11.5% Average Unit Realization (AUR) Highest ever in 4th quarter PBT Margin Note: 1. Sales Value and Average Unit Realization .ncludes Upgrades.; 2. Occupancy as a % of Operational Room Inventory; 3. Refer slide 17 for details; 4. Post adoption of Ind As 115 70% FY23 Sales Growth through Higher Membership Sales id ve and Improved AUR A CI ubMatundra Member to Room 58 57 58 Ratio 734 17,477 206 5,097 (-E26%) 432 Robust Demand for 4.2 Membership Sales 4. Vacation Ownership 155 4,058 Value1 drives Member 12,764 3.8 (Rs. Crs) Additions a (Nos.) Average Unit Realization Q4 Q4 FY22 FY23 Q4 Q4 FY22 FY23 (AUR)1 FY22 FY23 FY22 FY23 • Member acquisitions through referral and digital routes at 57% in • FY23 Sales Value growth of 70% YoY on account of higher FY23 member additions and improved AUR of Rs. 4.2 lakhs vs Rs. 3.4 • Cumulative member base at -2.82 lakhs, including 85% fully paid lakhs in FY22. • Member to room improved further this year to 57 • Introduced a new 15-year product in FY23 Note: 1. Membership Sales Value & AUR inch, des Upgrades Highest ever FY23 Resort Revenues Driven by Increased Occupied Room Nights Et Member Spends CI ubMatundra Inventory 4,568 4,940 4,568 4,940 (No. of keys) 323 80 jv 85% CTF40% 84% 77%' 74% 57 193 Resort Resort Income Occupancy' (Rs. Crs) (%) Q4 Q4 FY22 FY23 Q4 Q4 FY22 FY23 FY22 FY23 FY22 FY23 • Highest ever annual Resort Revenues at Rs. 323 Crs (+67% YoY). • Overall room count increased to 4,940 keys by end of FY23 with addition of 372 rooms. • Resort Revenues driven by high occupancies on higher room inventory, along with increased usage of existing and new experiences by members. Note: 1. Occupancy as a % of Operational Room Inventory Our Focus on Inventory acceleration continues Ac 4 OubMahindra India LADAKH Overall 135 destinations including 82 properties in India, 20 SRINAGAR 82 Properties DHARMASHALA properties in South-East Asia Ey Middle East and 33 NALDHERA MANALI JANJHELI RISHIKESH Destinations in Europe across Finland, Sweden and Spain SHIMLA I yI y KANATAL KANDAGHAT BINSAR MUSSOORIE CORBETTT LACHUNG BAIGUNEY4 IIGANGTOK AGRA PUSHKAP. I JAISALMER w I J AIPUR DARJEELING I I KALIMPONG Member to JODHPUR? '' RANTHAMBORE 71 65 69 69 68 68 69 61 58 57 TKUMBALGARH I SHILLONG Room Ratio MOUNT ABU 11 v Avg Annual UDAIPUR KHAJURAHO T 1.68x Addition: 372 keys AHMEDABAD BANDHAVGARH T Avg Annual NADIAD I Addition: 221k eys DWARKA NETRAN I G J AMBUGHODA KANHA BENGAL 4,940 HATGAD GANGA 4,568 I DIU 4,197 DAMAN ALIBAUGI LONAVALA 3,472 3,595 3,732 KHOPOLI I I I MAHABALESHWAR 3,152 KOYNA AMBA GHAT 2,816 2,879 HTAmpi SAROVAR 2,407 GOA I DINDI Inventory COORG vI BANGALORE T TIRUPATI (keys) VIRAJPJ. y T III ANDAMAN MYSORE I PUDUCHERRY AND WAYANAD NICOBAR KOCHI I I I 0 I 0 TY KODAI ISLANDS I I MIU NNAR AROOKUTTY ALLEPPEY I I I RAMESWARAM I I I ASHTAMUDI I POOVAR FY14 FY15 FY16 FY17 ' FY19 FY20 FY21 FY22 FY23 THEKKADY Historical Acceleration I RESORTS + BOAT HOUSE ora Note - Approximate Locations, Map not to scale ` Inventory Portfolio expanded to 102 Properties in FY23 as ,V follows: CI ihNtahindra 4,940 keys • Amba Ghat, • Abu Dhabi • Mapusa, Goa Maharashtra • Maldives • Panchgani, 102 resorts • Janjheli, Himachal Maharashtra • Cambodia Pradesh • Vietnam • Lachung, Sikkim • Chiang Mai, Thailand 4,568 keys • Jambughoda, Gujarat • Chitwan, Nepal • Tirupati, Andhra Pradesh 84 resorts Room Inventory at 4,940 with addition of 372 rooms during the year As on As on March'22 March'23 Q4 & FY23 Income, EBITDA & PBT have grown substantially A e (vs pre-pandemic levels) 4 Q4 FY23 vs Q4 FY20 (adjusted for one-offs)* Rs. Crs CLubMahindm Total Income EBITDA PBT 30% 43% 32% 1 1 332 221 278 256 84 80 mINJE 71 59 38 Others 49 33 n 29 Resort 202 VO Q4 FY20 Q4 FY22 Q4 FY23 Q4 FY20 Q4 FY22 Q4 FY23 Q4 FY20 Q4 FY22 Q4 FY23 FY23 vs FY20 (adjusted for one-offs)* Rs. Crs Total Income EBITDA PBT 23% 1 45% 48% V 1,275 352 183 157 298 1,037 1,028 242 r 67 323 124 Others 193 2)8 Resort 749 VO FY20 FY22 FY23 FY20 FY22 FY23 FY20 FY22 FY23 12 Note: *Refer slide 17 for details on one-offs FY23 Total Income grows by 24% YoY and PBT by 17% YoY, excl. one-offs Q4 FY23 vs Q4 FY22 (adjusted for one-offs)* Rs. Crs lebtitahindm Total Income EBITDA PBT 332_1 278 22 84 71 18% 38 .19 80 1 Others 33 I 57 Resort 230 202 VO Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 FY23 vs FY22 (adjusted for one-offs)* Total Income EBITDA PBT 1,275 352 183 18% 298 157 1,028 _ Others 193 Resorts 776688 VO FY22 FY23 FY22 FY23 FY22 FY23 Note: *Refer slide 17 for details on one-offs AP Profit Margin expands (vs pre-pandemic) driven by Revenue Growth Er Cost Optimization 4 CLubMahindm EBITDA Margin* PBT Margin* PAT Margin I is• 430 bps 240 bps 330 bps 27.6% 23.3% 14.4% 12.0% 8.8% FY20 FY23 FY20 FY23 FY20 FY23 Note: *Adjusted for one-offs. Refer slide 17 fcl details Total Income grows by 20% YoY in Q4 and 24% YoY in AVe FY23, excl. one offs CLubMahindm Quarter ended Year ended Total Income (Rs. Lakhs) Q4 FY23 Q4 FY22 YoY FY23 FY22 YoY Income from Vacation Ownership 12,006 10,398 15.5% 45,452 39,337 15.5% ASF Income 9,002 7,888 14.1% 34,019 30,788 10.5% Interest & Others 1,987 1,931 2.9% 7,894 6,672 18.3% Total VO Income 22,995 20,217 13.7% 87,365 76,797 13.8% Resort Income 7,972 5,686 40.2% 32,253 19,271 67.4% Revenue from Operations 30,967 25,903 19.5% 119,618 96,068 24.5% Non-Operating Income 2,256 1,863 21.1% 7,864 6,690 17.5% One-off Income 409 2644 3075 4,314 Other Income 2,665 4,507 -40.9% 10,939 11,004 -0.6% Total Income 33,632 30,410 10.6% 130,557 107,072 21.9%I Total Income (Excluding One-offs)* 33,223 27,766 19.7% 127,482 102,758 24.1% Note: *Adjusted for one-offs. Refer slide 17 for details. 15 Profit Er Loss Statement - Q4 Et FY23 Ac 4 OubMahindra In Rs. Lakhs Quarter ended Year ended Q4 FY23 Particulars Q4 FY23 Q4 FY22 YoY Gr FY23 FY22 YoY Gr • Employee Benefit Expenses Revenue from Operations 30,967 25,903 19.5% 119,618 96,068 24.5% increased YoY due to annual Non-Operating Income 2,256 1,863 21.1% 7,864 6,690 17.5% increment and additional One-offs 409 2,644 3,075 4,314 headcount. Total Income 33,632 30,410 10.6% 130,557 107,072 21.9% • Sales and Marketing Expenses Employee Benefit Expenses 8,043 6,717 19.7% 30,193 24,862 21.4% increased YoY due to higher spends Sales & Marketing Expenses 6,080 5,705 6.6% 21,485 17,914 19.9% on Brand Marketing Campaigns Rent 2,365 1,336 77.0% 7,732 4,822 60.3% leading to increased Sales. Other Expenses 8,351 6,896 21.1% 32,919 25,016 31.6% • Rent, Finance Cost and Total Expenditure 24,839 20,654 20.3% 92,329 72,614 27.2% Depreciation increases reflect room EBITDA 8,793 9,756 -9.9% 38,228 34,458 10.9% inventory addition. EBITDA Margin % 26.1% 32.1% 29.3% 32.2% Finance Cost 764 567 34.7% 2,913 2,116 37.7% FY23 Depreciation 3,786 3,286 15.2% 13,909 11,989 16.0% • Rent, Finance Cost and Profit Before Tax (PBT) 4,243 5,903 -28.1% 21,406 20,353 5.2% Depreciation increases are due to: PBT Margin % 12.6% 19.4% 16.4% 19.0% o Room inventory addition and, Tax Expenses 1,117 1,453 -23.1% 5,548 5,223 6.2% o Capitalization of Assonora Profit after Tax (PAT) 3,126 4,450 -29.8% 15,858 15,130 4.8% and Ashtamudi resorts PAT Margin % 9.3% 14.6% 12.1% 14.1% • Other expenses have grown YoY due to resumption of full scale of Total Income (Excluding One-off)* 33,223 27,766 19.7% 127,482 102,758 24.1% EBITDA (Excluding One-off)* 8,384 7,112 17.9% 35,153 29,789 18.0% operations post pandemic and the EBITDA Margin %* 25.2% 25.6% 27.6% 29.0% resultant proportionate increase in PBT (Excluding One-off)* 3,834 3,259 17.6% 18,331 15,684 16.9% resort operating expenditure & cost PBT Margin %* 11.5% 11.7% 14.4% 15.3% of acquisition Note: *Adjusted for one-offs. Refer slide 17 for details. MHRIL Standalone One-offs A e 4 In Rs. Lakhs CLubMahindm MHRIL Standalone - Income Q4 FY23 Q4 FY22 FY23 FY22 Fair Valuation of Investment in Unlisted Company - - 283 - Translation Forex Gain on ICDs to Subsidiaries 380 - 2,763 - Interest Income on IT Refund 29 - 29 444 Gain from Sale of Investment - 2,631 - 2,631 Long Term Lease Rent Waivers during pandemic - 13 - 1,239 Total 409 2,644 3,075 4,314 MHRIL Standalone - Expenses Q4 FY23 Q4 FY22 FY23 FY22 Short Term Lease Rent Waivers during pandemic - - - 355 Total - - - 355 MHRIL Standalone - Impact Q4 FY23 Q4 FY22 FY23 FY22 Income 409 2,644 3,075 4,314 Expense - - - 355 Net PBT Impact 409 2,644 3,075 4,669 A e Strong Balance Sheet 4 CLubMahindm Strong Asset Base Rs. 1,158 Cr Rs. 2,350 Cr Zero debt Rs. 5,326 Cr Includes Land Net addition Rs valued at Rs. 1,235 244 Cr in FY23 Cr and excludes Long- Term Leases valued at Rs. 381 Cr . . 18 MIN Snapshot of Balance Sheet 4 In Rs. Lakhs Description As on As on CLubMahindm 31st March 2023 31st March 2022 ASSETS Property, Plant and Equipment 234,954 229,203 Right of Use Asset (IND AS 116) 38,093 26,781 Trade receivables 116,033 112,817 Cash and cash equivalents (regrouped) 115,769 117,156 Deferred Tax (Net) 21,104 19,314 Deferred Acquisition Cost 76,727 72,342 Other Assets 78,298 51,786 680,978 629,399 LIABILITIES Shareholders Equity 20,070 19,985 Share Application Money Pending Allotment 117 Other equity Reserves & Surplus 110,231 92,936 Revaluation Reserve 84,558 84,007 Other Comprehensive Income -128 -216 Transition Difference -140,272 -140,272 74,576 56,440 Deferred Revenue VO 514,953 492,366 ASF 17,692 15,909 Lease Liability (IND AS 116) 40,140 28,162 Other Liabilities 33,617 36,522 680,978 629,399 Note:Balance sheet figures are regrouped for presentation purpose Ac 4 CLubMahindm MHRIL Key Trends Et Business Environment CLUB MAHINDRA KANHA MADHYA PRADESH V A e Key Trends 4 Cr. 1 btilailirkdr a RBI Consumer Confidence reflects steadily improving Domestic Airline Passenger Traffic has seen uptick in FY23 consumer demand Current Situation Index (CSI) Future Expectations Index (FEI) Domestic Passengers (in million) 140.0 120.0 20 100.0 80.0 10 60.0 40.0 0 CTh 0) 0) CH CHY) N 00 N 0 N 0 N 00 N N Nc\INN N N c\J N N c N \ N IN N c N \IN N N N n Ist) MO0 N 0 000 N N N N N N 1 , N - 1 N 1 , N - 1 (N] 1 (N) I N CV N N C N V N N C V N N N '4) ( 6 c / u _ z 0 a) 0 (1:1 (1:1 cti 7-) a 6_ ) z 0 co cr) z 4 (1)6 < < 0 o(6D < L.) (6D 1a2) < < 0 o 6(D Source: National Statistical Office; RBI Consumer C onfidence Survey, GoI - Ministry of Statistics & Programme Implementation: Airports Authority of India, Monthly Air Traffic Reports Indian Hospitality Sector's key metrics shows significant improvement v in Q4 FY23 & continues to grow 4 CLubMahindra Highest Occupancy JP Highest ADR since FY21 31y de Crossing Pre-pandemic levels Indian hotel occupancy reached 71% in India reached highest ADR of Rs. 8,300 In FY20, Occupancy was 66% with ADR of Rs. 6,100 Feb23, highest since the pandemic began in Feb'23 x Evolution of important industry metrics ••••••• ADR (INR) ••••••• Occupancy 8300 7600 7600 7400 6800 . ******* 6100 5800 5850 5950 5950 5850 5950 5400 5500 • ....... • • • ••• .. • 4800..- • ••• 5000 5100 • ....... ...... 70% 70% 71% 4500 4200 4300 4100 3700 42•0.(.).c.1.4r310: 4300 ...,... ... ..... . :a... yr - ...... - ........ 6 1 1 : % :: :::::615.:: ........ 66% 64% 62% 64% 'll) 65% 3800. . .• T --- 57% . ***** 59% 58% 411r... 55% ":11: ...... ••• 3200 ***••• 55% 55% .. 54% 47% 48% ... • •• .... ../ '. ... 48% •--1 .. "a. .di 36% 31% •••. .•'' 31% V • • IV 19% _( 6) _ 9.9 , ei> )_ ei> (111,, _ 19, /(,1, ,e0, (1/ 41, ,r19, 4,13 ,(11), I I fi 4.0 1 's•>. C di 4)4 cf51 Os. ti;\ 's,). ?).4 49 06" +64 cf,c' ‘< c) ÷04 c •s t c( Local Vaccination Wave 2 States Impose Vaccination Reaching :1 k Wave 2 recedes Omicron ADR at record high restrictions Begins Hits Lockdown reaches 1B mark Pre-pandemic levels Sources: HVS Anarock Monthly reports A e Emerging Travel Trends in the Indian Hospitality Sector 4 CLubMahindm 7—urisv-- Family Bonding People are Health-conscious and Multi-generational travel has willing to invest in a 'rejuvenating picked up as families choose to vacation' for mental and physical spend more time together wellbeing Rise of Alternative Seeking the Outdoors Accommodatior Long periods of staying indoors have Experiential travel, culture-infused trips led to vacationers wanting to enjoy and the need to travel to off-beat, natural nature and an increase in outdoor locations have given rise to the trend of Indian activities such as nature walks, treks staying at alternate accommodations Hospitality and biking Sector TnrrPAqing dominance of OTAs Npwfound Vacation Tdp2s OTAs and digital players continue to Newfound vacation ideas such as disrupt the market providing workcations, drivable vacations, customers ubiquity of information and staycations are gaining Er access momentum Curated Exv, DIY Packages 'Fro Ft c :oncriol Travel I L14/,1 L„J a Sustainable and responsible travel Travelers are seeking immersive and bespoke is preferred by new-age traveler s experiences like local cuisines, dining under the stars, camping, barbeque, etc MHRIL is well-positioned to capitalize on varying consumer _re preferences in the post Covid Era CLubMahindm e pandemic has led to certain trends emerging i ... which MHRIL is well placed to capitalize on the Indian Hospitality industry... TICKET Revenge Tourism due to pent-up demand for leisure travel after easing Focus on leisure travel and family experiences led to bounce-back FCTI of travel restrictions in occupancies to pre-pandemic levels Consumers prefer to utilize their holiday as a staycation indulging in Importance of holiday and rejuvenation has been reinforced after the • in-resort activities and Daycations to celebrate special occasions pandemic with families Our resorts consist of large open spaces, outdoor dining, and Restaurants, hotels, and recreation centers have created outdoor spaces spacious rooms that are favorable for social distancing conducive to social distancing We have taken a lead to digitize member services through our app Accelerated technology transformation around contactless service, Er member website by adding contactless check-in, pre-purchase of MENU real-time dissemination of information Er digitally enabled services for resort offerings Er digitally enabled end-to-end travel solutions. travelers, besides meeting expectations around hygiene Er safety Our resorts represent the highest standards in safety for Covid and standards. are certified by Bureau Veritas Higher fuel expenses and cost of operations has made long haul flights Growth in domestic travel is likely to benefit us given that most of our and international travel more expensive resorts are at drivable distances from key cities A e 4 CLubMahindm MHRIL Unique Et Profitable Vacation Ownership Business CLUB MAHINDRA VARCA GOA G A Large Er Attractive Market for Vacation Ownership in India joVe CLubMahindm There is a huge potential Vacation Ownership in India target market for VO as household income grows… ~3 Crs High-income Rs. 55 Lakh Crs Annual 2x Growth VO penetration in India Households Consumption is low (-2%) ‣ with an annual income > Rs. 27.5 lakhs ‣ from high-income ‣ expected in high-income ‣ vs -11% in US, indicating expected by CY30 households by CY30 households by CY30 considerable scope for growth An expanding aspirational consumer segment and low penetration levels of VO provide significant headroom for growth of the Vacation Ownership market in India Source - World Economic Forum, Future of Consumption in Fast-Growing Markets: India, January 2019; High-Income households > Rs. 27.5 Lakhs per year; 1 USD = Rs. 68.75 Over 25 years, MHRIL has created a unique and sustainable Vacation Ownership business and is the #1 Leisure Hospitality AV( player in the country CLubMahindra MHRIL Vacation Ownership business consists of .. ...with unique competitive advantages Strong economic model and difficult to replicate Mir Club Mahindra enjoys strong brand equity and is positioned as provider of quality vacation experiences for families 2,000+ curated Strong free -2.8 Lakh members experiences cashflows Creator of new leisure destinations and world-class resorts (0 ••• ( ••• ••• •I• Predictable annuity revenue streams & cash generation 100+ resorts 388 Partner Debt Free on a Continuous member engagement to enhance lifetime Value globally Hotels Standalone basis Multi-Year Sources of Value Creation in Vacation Ownership A e across the Tenure of the Membership 4 CLubMahindm Vacation Ownership Income ➢Membership Fee over the entire tenure of membership VO Income ➢Interest Income e Annual Subscription Fee (ASF) New member joins ➢Recurring fees ➢ Adjusted for inflation Referrals Membership Upgrades ➢Happy Family Referral ➢ Seasons - upgrades across seasons Program eg: Blue (Low) to Red (Peak) ➢Reduced cost of member ➢Room configuration - upgrades to larger acquisition room sizes: Studio to 1 BR, 1 BR to 2 BR ➢Product - Shorter tenure to Higher tenure Resort Income Cross-selling/Up-selling Opportunities [ El (F&B, Experiences such as Happy Hub, Spa, etc) ➢Exchange Program (Horizon 8- RCI) ▪ Immersive family experiences ➢ Top up of Points (in Bliss Er Go-Zest) Resort Income ▪ Consistently High occupancies across ➢ Club M Select, Curated Vacations, seasons (80%+) Weekend Getaways 28 Club Mahindra's Product Portfolio .11-.Ptahindra CMH – 25 years/15 years, 7 nights per year Target Consumer: Lifestyle Parameters Consumer Holiday Needs Couples (Age 30-45 years) • Provider, adaptive to changes & • Plan vacations in advance with young children aspirational • Seek family bonding • Stability & balance seeker 1 have dreams and aspirations and I will • Cautious spender • Want to explore new destinations achieve them" Bliss - 10 Years, Points Based Membership • Driven by comfort - Family centric &- • Financially secure & free time to Older couples, Age 50-65 professionally accomplished support their travels years (Empty Nesters) • Rational spender 8- value conscious • Seek relaxation 8- rejuvenation "You are never too old to • Want to feel pampered • Prioritise safety & hygiene follow your dreams" GoZest! - 3 Years, Points Based Membership • Eager for new and exciting Recently married couples; • Independent and ambitious experiences. <30 years of age • Lesser familial responsibility • Explore popular & new destinations "Enjoy your youth, you will • Inclined to spend on experiences • Experiences such as Ziplining, Jungle never be younger than you are at this moment" Safari, Paragliding, etc Growing Footprint in India & Abroad with overall 135 destinations Ac 4 CLubMahindm LADAKH Europe SRINAGAR DHARMASHALA 33 Timeshare Destinations NALDHERA MANALITv India JANJHELITT RISHIKESH SHIMLA 82 Properties T T KANATAL KANDAGHAT T BINSAR MUSSOORIE CORBETTT LACHUNG BAIGUNE GANGTOK TAGRA PUSHKART JAISALMER JAIPUR DARJEELINGb KALIMPONG JODHPURT T 7 RANTHAMBORE V TT TKUMBALGARH I SH IL LONG MOUNT ABU P UDAIPUR T I KHAJURAHO AHMEDABATD BANDHAVGARH T NADIAD * Las Vegas ndo Nepal Thailand T TT JAMBUGHODA KANHAT DWARRA NETRATIG T BENGAL Abu Dhabi Bhutan Vietnam . HATGAD GANGA 1 / Sri Lanka Malaysia Cambodia GI DIU DAI MAN United States Singapore 1.1-;,%--- LONAVALA ALIBAUGT Associate Resorts thel KHOPOLI TirMAHABALESHWAR Maldives KOYNAT AMBA GHAT S. E Asia & SAROVAR GOAI HAMPI DINDI Middle East BANGALORE 20 Properties COORG I r IF1 I TIRUPATI VIRAJP OT' T III ANDAMAN MYSORE TPUDUCHERRY AND WAYANAD I I I 00TY NICOBAR Choice of Destinations for members KOCHI I I KODAI ISLANDS I MIU NNtR AROOKUTTY 4,I'w Holidayffelub ClubMahiridra R w CI AS A H LL T E A P M P U EY D I 1 RAMESWARAM POOVAR THEKKADY 33 Timeshare Holiday Exchange 4,300 Resorts 4,940 rooms across 102 Destinations & 9 Spa Program with 388 through Exchange Resorts Holiday Club International India Boat Hotels Partner Hotels Network Resorts Resorts Resorts House Expanding Choice of Destinations available to members across MHRIL and Holiday Club Resorts (HCR) along with Horizons Exchange Program OubMattindm CLUB ivl Holiday•Club C1,41,Nial-andra 1-1()riz()11S SELECT 33 Timeshare/Spa Offers 365-day Holiday Exchange 4,940 rooms across 102 Resorts Hotel Program with 300 engagement platform for members for Destinations in domestic and 88 dining, travel & lifestyle Europe international partner experiences hotels 4,300 Resorts through Exchange Network RCI 31 A e Our Business Model is Differentiated 4 II OubMahindra Focus on Family Multi-Product Portfolio serving Spacious ResortsiKith A Vacations diverse consumer needs Larger Apartments • Memorable family experiences • Portfolio approach to help • Members prioritize vacationing o New Er popular destinations capture demand across the at our resorts given our larger across India & abroad consumer lifecycle room sizes and spacious o Range of culinary options resorts o 'Happy Hub' catering to • Catering to travel Er hospitality entire family with indoor & needs of our varied customers, • Besides apartments (Studio, 1BR, outdoor games and other expanded the product portfolio 2BR), we also provide members experiences to include multiple tenure with multiple types of o Wellness & Spa experiences products accommodations such as villas, o Soft adventure activities tents, Er cottages. • Portfolio includes short tenure memberships, CMH-25 and • Several outdoor activities at our Bliss properties • Enables members to holiday together with extended family 8- friends Z9 CLUB MAHINDRA MANALI HIMACHAL PRADESH dlOc 4 CLubMahindm MHRIL Long-Term Value Creation 11N.nJ r i t tl i witite Msi By Matlindra .-iiiii v• VAIL -. -' ye _ 1177*-j lill . • 0 i VIVIZA alligiBIPIIIIPIMEOgreMPAMArralure l a i r li lisso tv#A0:‘,* ir7. itins-Ifi at_42.13 11 l 1 l :1411 e $ tl 2 e 1 ir 1 k 1 2 * F4 .P A e l r lra ia tO ra n t i i l i eltiAkt. '-qC-iAINORMIT • V - -17--71- - -11P ' -7 1 .4 1 r„E_ W -, " ..W 00/4 a 1 l r n f.i r re -I -fU . f Ifr_-. filf!4),- -z-imulip.4,,, -;------- - 33 AP Strategy to Drive Consistent Growth 4 CLubMahindm ) 01 02 ccelerate Room Inventory Grow Cumulative Additions Member Base 03 04 Deliver Superlative Improve Operational Customer Experience Efficiencies 11 Strengthen Brand Digital II Enablers Enablers Pull Transformation 34 A c Greenfield/Brownfield/Acquisition in FY24: 6 Projects/ 740 Keys CLubMahindm Expansion Projects (- 290 keys) Greenfield (-380 keys) I Ongoing [Ongoing New *F- 7 4411 Abutting sea coast of the Arabian Sea in the Konkan region. 236 keys resort. Expected commencement of construction in April'23 Assonora, Goa Puducherry Construction to commence for 141 Keys Resort at Theog, HP Expansion of 62 keys to New make this a 187 key resort. Construction expected to Acquisition commence in Q1 of FY24 73 Keys Resort 72-key resort - being expanded by 185 keys 3rd Phase of constructing 44 keys Acquisition & to make a 257-key flagship resort. commenced in Oct'22 to make this a upgradation to Construction commenced in Feb'22 244-key resort. be completed in Q1 of FY24 Tree House, Jaipur Accelerate Member Additions 4 CLubMahindm I Scale up Member acquisition through Referrals, Digital and Alliances Use a multi-product portfolio to acquire members based on life- stage segmentation (Go Zest, CMH-25/CMH-15 and Bliss) Scale up resort onsite sales teams to acquire new members and I upgrade existing members Accelerate customer acquisition by expanding geographical reach Creating New Er Innovative Customer Experiences aubMahindra Republic Day at Manali Lohri Celebration Republic Day Buffet at Jaipur Pongal at Puducherry at Kanha Herbal Garden Tour at Ooty Camping at Madikeri, Tamil Food Festival for Pongal at Derby Green Holi Celebrations at Netrang Gudi Padwa at Tungi Makkar Sankranti at Bird Watching at Ooty Coorg Udaipur Rocksport Happy Hub Experiences B-live Cultural tours in Goa, Wall Climbing at Puducherry Adventure Zone at Assonora, Goa Udaipur, Coorg Tea Plantation Tour in Sikkim 37 Strengthening Brand Pull through Targeted Marketing Campaigns - Q4 FY23 Oil bmarkindra Ci...1 Campaign Objective & Theme: CE,Mahkndra tframilyHiSsiperssoman The Stage by Club Mahindra Where's our Afterall Moms Know Best #FamilyKiSuperwoman • 'The Stage': An on-ground headed next? Make a guess! ClubMahindra To Position 'Club Mahindra' as a caring Family Brand IP featuring live 2000. destinations I Ei0. I meth. Brand from the perspective of a mother. Club Mahindra M € e a m l o b r e e r s la h d i 3 p a to v d a a l y ., ! , PRESENTS conversation with one of A Club Mahindra membership enables moms to THE the leading sports personalities — Dinesh become #Familykisuperwoman and enables STAGE Kartik them to plan wonderful family holidays for their 6 CONVERSATI • Opportunity to drive leads loved ones. WITH with on-ground engagement through new 6 Mn+ Reach member acquisition 170 Mn+ Impressions • Venue: Taj Coromandel *Data as on 31st March 2023 • • • • • On ground Activation with Peppa Pig CED Times of India (TOI) •_•_•_•_•_•_•___•_•_•_•_•_•_•___•_•_•_•_•_•_•___•_•_•_• a THE TBIES OF INDP C Cube Ad -7S• To Position 'Club Mahindra' as a Family IhsGszersylareerdreenhasee 0.151111.1hassasIlle =MI Brand with unique experiences for kids. • Strengthening brand pull Live: India shines at Oscars, IA 'ERRS Naalu Naatie", The Er engagement through Elephant Whisperers' win big On-ground activation with Nickelodeon's the Cube Innovation on NrcAl, II BALI Peppa Pig musical concerts across below r A • ;41 AUBAI TOI App. The Cube cities: Hanyl-ra smart a magical:p..11,y with showcased our 3 Club Moblnaro, cont. button below. - Mumbai C:513923 International Destinations - Chandigarh Offers that were launched - Hyderabad in March 23' Contest: A chance to win a Meet & greet with Peppa Pig for Select Families 7=7 • Impressions: 8.3 Mn 1:11211110 L . ASSONORA GOA a °ll OubMahindra ESG Initiatives Our Commitments Ac 4 ClubMahindra We are India's first hospitality company to join the Global campaign for RE100 and EP100. These initiatives are aligned with the core principles of 'RISE' and our mission of 'Good Living, Happy Families'. Carbon Neutrality Net Zero Green Resorts Sim EP 100 RE 100 Biodiversity 01 02 03 04 05 06 Net Zero Waste 44 resorts Achieve 44 resorts by 2025 n to be Energy 100% 15 resorts Carbon Net Zero Water certified by Productivity Renewable to be Neutrality 15 resorts by 2025 2025 2X Energy by certified by by 2040 Net Zero Energy through by 2030 2050 2025 (IBBI2) 15 resorts by 2025 IGBC1 Note: 1. Indian Green Building Council; 2. Indian Business Biod 'versity Initiative . Our Key Sustainability Initiatives 11111 4 1 'V Energy Initiatives CLubMahindni Water Management • CR- Reduce Greenhouse • Jal Jivan Initiative - improve efficiency Emissions by 88.3% by 2031 of water utilization through 4 R principle • Solar panels at our resorts • Separate Grey & Black water treatment with a cumulative installed • Rainwater Harvesting structures are capacity of 5.7 MWP installed in 20 resorts; 588 mn litres or • Tracking Er monitoring through 60% of total water consumed by our _dlergy management systems resorts was recycled in FY23 • IoT based real time monitoring system for water management Waste Management • Responsible sourcing of materials; e.g., straws, laundry bags Et packaging of bathroom amenities made from corn starch Biodiversity • Circular economy used cooking • Under Project Haryali, planted oil is converted to biofuel, food 20k+ trees in FY23 (5 lakh+ since waste is converted into biogas, E- FY11) near our resorts waste is recycled, • Biodiversity initiatives at vlaciikeri, Viraipet Assonora resorts to • Introduced extended Producer conserve natural forest areas Responsibility (EPR) across all contracts Winner of the IGBC Green Champion Award under the category of Pioneer in Hospitality sector with highest number of Green Resorts in India (11 MHRIL resorts are 'Platinum' certified) VI CSR - Key Initiatives A c AI CI JbMahincha Promoting Education Women Empowerment • Project Udaan Skilling 45 women in BPO Sales (TME) in Bangalore, Karnataka to economically empower and make them self-reliant through livelihood • Project Nanhi Kali: Supporting the education of - 2,782 girl children enhancement initiative. from socially Er economically marginalized families • Project Saksham Skilling and promoting entrepreneurship amongst 61 women • Project Gyandeep: Infrastructure improvement support, provision of from low-income communities in Varca, Goa. books Er stationary, Er renovation of schools • Ruildina 1 ivPlihnnric of Wnmpn Artisans- To build craft skills in hand embroidery for 100 women to help create marketable products that will enable income post training in Udaipur, Rajasthan. Environmental Sustainabili Skill Development • Suryodaya - Alternate 'Ins (solar) for the community- Support is L. yy being provided to 745 licensed street vendors in Alibaug. by providing them with solar lanterns/lamps to help generate higher income to support their families • Imparting employability / livelihood skills to the family • Arrpcc to nntahlp ukfatpr- To ensure availability of potable water for villagers in members of head loaders communit' economically Prini village, Manali - benefitting a community of 10,000+ individuals. empower 484 individuals and make them self-reliant through various livelihood enhancement initiatives in • Sustainable Fuelwood management: Awareness and cookstove distribution partner with Manav Sadhan Vikas Sanstha. program in identified communities in Ooty, Tamil Nadu Er Madikeri, Karnataka benefitting over 562 households. • manindra Hanyaii: This year, we planted 20,817 saplings, taking the total count to 5,15,228 trees since the beginning of the project in 2010-11. 42 .We Create Dream FigTi4.clays 16"‘ O DA ta The Accommodation industry in Nordic countries is continuing to grow at a CAGR of 9% between 2022-2027 f bmahindra Paid accommodation industry revenue in Nordic countries Revenue in Euro Bn Projections 19 18 17 17 14 13 12 8 2020 2021 2022 2023E 2024E 2025E 2026E 2027E Source: Statista —Actual until 2021, Forecast 2022-2027; Nordics = Finland, Sweden, Denmark, Norway; Data reflects the impact of the Russia-Ukraine war and is shown using current exchange rates. A e HCR - A Leading Timeshare Company 4 aubMahindra HCR's business consists of .. ...with unique competitive advantages Timeshare In Finland, leader in Timeshare owner base Widespread network of Spa resorts with varied experiences 19,000 weeks 33 Timeshare 60,000+ of TS Er Villas Destinations in Finland, Timeshare owners" Complementary business assets in terms of Timeshare -I Inventory Sweden Et Spain and Spa Hotels Spa Hotels [ Multiple Revenue Streams such as Spa Hotels, Timeshare, Real Estate Management Er Renting Generated -€45 mn2 cash from operations and reduced debt since acquisition despite severe impact of Covid-19 9 Spa 1,200+ Hotel 1.3 million and Russia-Ukraine War Resorts Rooms" visitors per year • Note: 1. Finnish numbers; 2. Cumulative Operating cash flows from FY17 till FY23 HCR Business Model - Finland aubmahinara Spa hotels and resorts are open for all visitors - timeshare owners are essential and frequent visitors Spa hotels and resorts • Large resort-style destinations with various room types, restaurants, waterparks/spa, Er leisure activities generating consistent revenue streams -1.3 Mn hotel guests, 800k spa visitors; • Timeshare owners are entitled to several benefits in all HCR resorts Q2 Er Q4 are important travel seasons for Finland • Resort visitors attending timeshare sales presentations build a significant pipeline for customer acquisition • Resorts typically operate in leased properties eshare and Villas sales consists of selling perpetuity, granting a specific week and access to HCR benefits • Timeshare is ownership of a specific apartment unit for a particular week every year while Villas is ownership for 6 Timeshare and Villas sales weeks or more • Commitment is for perpetuity, but owners can upgrade or buy additional weeks OR if they wish to exit, they can resell over 60,000 owners their timeshare through HCR or independently • Owners can use their own week, rent out the week through HCR or independently - or exchange within the RCI's holiday exchange program. • TS and Villas owners utilizing the wide range of resort services bring additional revenue to Spa hotels Renting of holiday apartments Renting of holiday apartments in resorts or other destinations - both HCR's own inventory and customers' weeks • Rental inventory consists of unsold weeks in HCR's inventory as well as weeks owned by TS owners who are renting their weeks .'330k renting overnight via HCR. guests • The revenue stream in rental business is coming from two sources: • Rental income from NCR's own inventory • Commission collected from TS and Villas owners Property Er Real Estate Mgmt Property and Real Estate Management is an essential enabler for timeshare business model • Customers become owners in a real estate company to which they pay all maintenance related costs in an annual installment wr • Real estate companies purchase reception services, administration and maintenance from HCR • Having an inhouse Property and Real Estate Management enables securing the quality and development of the network. • Real estate unit executes new construction of timeshare as well as repairs and renewals of existing properties. A e HCR has turned around and delivered € 5 mn Operating 4 Profit in FY23 despite the impact of Russia-Ukraine War CLubMahindm I Revenue (€ Mn) Operating Profit (€ Mn) 161.9 165.0 161.1 1 157.3 12.0 4111111110 ,r 144.2 122.1/ 7.8 6.7 99.5 6.3 5.0 /- (0.3)/ I FY17 FY18 FY19 FY20 FY21* FY22* FY23# (8.9) FY17 FY18 FY19 FY20 FY21* FY22* FY23# Note: Financials are as per Finnish Accounting Standards (FAS) * Impacted due to COVID-19; #Im,o acted by Russia-Ukraine War HCR has significantly reduced its debt since acquisition and Ac generated healthy cash flows from operations 4 CLubMahindm Operating Cash Flow (€ Mn) Net Debt (€ Mn) 51.7 13.1 12.2 12.2 7.8 25.9 21.5 - 4.6 15.6 0.3 Sep-14 FY21* FY22* FY23# FY17 FY18 FY19 FY20 FY21* FY22* FY23# (5.4) Note: Financials are as per Finnish Accounting Standards (FAS) 48 * Impacted by COVID-19; # Impacted by Russia-Ukraine War AP HCR Total Revenue grew by 24% YoY in Q4 and 18% YoY in FY23 despite Russia-Ukraine War Er High Inflation 4 CLubMahindm Particulars (Euro Mn) Q4 FY23 Q4 FY22 FY23 FY22 Q4 FY23 Analysis YoY Timeshare 12.4 7.9 38.4 29.1 • Revenue from Timeshare grew by 57% YoY driven by Spa Hotels 22.6 19.0 82.9 65.2 higher sales and better realizations. Renting 3.4 3.4 12.2 11.8 • Spa Hotels Revenue grew by 19% YoY largely driven by Real Estate Management 2.1 1.7 7.0 6.5 higher occupancies (63% vs 53% LY), improved ARRs Villas 0.5 1.2 2.7 3.7 and increase in F&B Revenue in Finland. Other Income* - - 1.0 5.8 L• Renting Income is in line with LY. Total Revenue 41.0 33.2 144.2 122.1 Financials are as per Finnish Accounting Standards (FAS) Note: *One-offs primarily include Government subsidies during pandemic NCR Turns around and Delivers Significant Operating A e Profit of € 6.4 Mn in Q4 Et € 5.0 Mn in FY23 4 OubMahindra Particulars (Euro Mn) Q4 FY23 Q4 FY22 FY23 FY22 Q4 FY23 Analysis YoY Turnover 41.0 33.2 144.2 122.1 • Despite weak consumer sentiment, Operating Profit / (Loss) 6.4 0.6 5.0 (0.3) Revenue increased by 24% YoY primarily due to Revenue growth from Spa Hotels Less: Depreciation and Amortisation Expense (1.0) (1.1) (4.3) (4.6) and Timeshare. (Add)/Less Financial (Income) and Expenses (0.4) (0.2) (1.2) (1.0) Profit / (Loss) before Tax 5.0 (0.7) (0.5) (5.9) • Delivered strong positive Operating Profit of € 6.4 Mn and PAT of € 4.0 Mn. Add/ (Less) : Taxes (1.0) (0.4) 0.0 0.6 Profit / (Loss) after Tax 4.0 (1.1) (0.5) (5.3) FY23 Analysis YoY Financials are as per Finnish Accounting Standards (FAS) • Strong domestic demand during the summer holidaying season in Q2 and skiing season in Q4 led to FY23 Revenue growth of 18% YoY. • Several cost optimization measures were introduced during the year. L • Delivered € 5.0 Mn Operating Profit vs Operating Loss of € 0.3 Mn LY 51 HCR FY23 Performance Et Outlook CI .1 bMahindr a • For FY23, the Finnish economy's growth forecast had been revised downwards on account of the ongoing Russia-Ukraine conflict and rising inflationary pressures. Finland is now a member of NATO. • Consumer confidence remained low but gradually improved during the quarter, with inflation Et energy prices coming off from their peak levels. • HCR business has seasonality driven by summer holidays in Q2 and skiing holidays in Q4. • HCR in Q4 has delivered Operating Profit of € 6.4 Mn indicating a significant turnaround in the business. • While real estate continues to be under pressure, Timeshare demand has picked up due to its relatively lower transaction price for the customer. • Spa Hotels occupancies outperformed the local hospitality market in Finland with improved ARR's and this trend is expected to continue. • Given the robust business model, improvement in consumer sentiment, and the buoyancy in leisure travel, the outlook for HCR is positive. CLUB MAHINDRA POOVAR KERALA ClubMahindra MHRIL Consolidated Q4 & FY23 Financials 53 Ac Consolidated Financial Performance for FY23 4 CLubMahindm • All time High, Total Income' at Rs. 2,593 Crs (+22% YoY) • EBITDA' grows by 42% YoY • PBT' grows by 3X (YoY) to Rs. 177 Crs • PAT grows by 68% (YoY) to Rs. 114 Crs 54 Note: 1. Excluding one-offs. Refer slide 58 for detai is on one-offs; Consolidated Revenue for Q4 grew by 32% YoY and FY23 grew by 22% YoY, excl. one-offs 4 CLubMahindm Quarter ended Year ended Segment Revenue (In Rs. Lakhs) Q4 FY23 Q4 FY22 FY23 FY22 MHRIL Standalone 33,632 30,410 130,557 107,072 Less : IC Eliminations # (384) (200) (1,266) (796) Net MHRIL - Standalone 33,248 30,210 129,291 106,276 HCRO 39,758 27,993 131,126 109,342 Others 521 80 1,973 2,267 Consolidated Revenue 73,527 58,283 262,390 217,885 Note: # Eliminations include Interest on ICDs & Corporate Guarantee commission charged by MHRIL to its subsidiaries. Quarter ended Year ended Segment Revenue excl. one-offs* (In Rs. Lakhs) Q4 FY23 Q4 FY22 FY23 FY22 MHRIL Standalone 33,223 27,766 1,27,482 1,02,757 Less : IC Eliminations (384) (200) (1,266) (796)) Net MHRIL - Standalone 32,839 27,566 1,26,216 1,01,961 HCRO 39,758 27,993 1,31,126 1,09,342 Others 521 53 1,973 1,472 Consolidated Revenue 73,118 55,612 2,59,315 2,12,775 Note: * Refer slide 58 for details on one-offs Consolidated FY23 PBT grew 3x YoY, excl. one-offs A e 4 CLubMahindm Segment PBT Quarter ended Year ended (Rs. Lakhs) Q4 FY23 Q4 FY22 FY23 FY22 - MHRIL 4,538 5,978 22,355 20,629 - HCRO 4,868 (1,478) 638 (6,519) PBT before Ind AS 116 & Consolidation adjustments 9,406 4,500 22,993 14,110 - Ind AS 116 Impact (343) (238) (1,512) (1,190) Segment Results 9,063 4,262 21,481 12,920 - Interest Expense on Euro Loan in Mauritius (505) (876) (1,404) (2,125) - Forex Gain/ (Loss) on Euro Loan (481) 27 (1,892) 797 - Other subsidiaries (forex & operational profits) (363) (232) (1,120) (536) Total Segment PBT 7,714 3,181 17,065 11,056 Segment PBT excl. one-offs* Quarter ended Year ended (Rs. Lakhs) Q4 FY23 Q4 FY22 FY23 FY22 - MHRIL 4,129 3,334 19,279 15,960 - HCRO 4,868 (1,478) 638 (6,519) PBT before Ind AS 116 & Consolidation adjustments 8,997 1,856 19,917 9,441 - Ind AS 116 Impact (343) (238) (1,512) (1,190) Segment Results 8,654 1,618 18,405 8,251 - Interest Expense on Euro Loan in Mauritius (505) (876) (1,404) (2,125) - Forex Gain/ (Loss) on Euro Loan - - - - - Other subsidiaries (forex & operational profits) (180) (232) 673 (536) Total Segment PBT 7,969 510 17,674 5,591 Note: *Refer slide 58 for details on one-offs Consolidated PAT grows by 68% YoY in FY23 4 Quarter ended Year ended CLubMahindm Particulars (Rs. In Lakhs) Q4 FY23 Q4 FY22 YoY Gr FY23 FY22 YoY Gr Income from Operations 71,161 54,258 31.2% 251,699 201,330 25.0% Non-Operating Revenue 2,366 4,025 -41.2% 10,691 1 6,555 -35.4% Total Income 73,527 58,283 26.2% 262,390 217,885 20.4% Cost of vacation ownership weeks 6,594 4,054 62.6% 20,151 16,638 21.1% Employee benefits expense 17,573 14,600 20.4% 65,589 55,719 17.7% Other expenses 30,525 26,809 13.9% 118,798 97,461 21.9% EBITDA 18,835 12,820 46.9% 57,852 48,067 20.4% EBITDA % 25.6% 22.0% 22.0% 22.1% Finance costs 3,261 2,667 22.3% 11,862 9,938 19.4% Depreciation 7,871 6,973 12.9% 29,000 27,075 7.1% Profit/(Loss) before tax 7,703 3,180 142.1% 16,990 11,054 53.7% Share of profit / (loss) of JV and associates1 11 1 75 2 Profit/(Loss) before tax 7,714 3,181 142.5% 17,065 11,056 54.3% PBT % 10.5% 5.5% 6.5% 5.1% Tax Expenses2 2,083 1,594 30.7% 5,683 4,292 32.4% Profit/(Loss) after tax 5,631 1,587 254.8% 11,382 6,764 68.3% Total Income (Excl. One-off)3 73,118 55,612 31.5% 2,59,315 2,12,775 21.9% EBITDA (Excl. One-off)3 19,548 10,149 92.6% 60,331 42,602 41.6% EBITDA Margin%3 26.7% 18.2% 23.3% 20.0% PBT (Excl. One-off)3 7,969 510 1,461.5% 17,674 5,591 216.1% PBT Margin%3 10.9% 0.9% 6.8% 2.6% Note: 1. Refers to MHRIL’s investment in Great RocksportPvt.Ltd., an “Associate” entity of MHRIL wefApril 16, 2022. 2. Tax expense is calculated based on standalone profits of respective companies. Hence, they are not comparable on quarterly basis; 3. Refer slide 58 for details on one-offs A e MHRIL Consolidated One-offs 4 In Rs. Lakhs CLubMahindm MHRIL Standalone - Income Q4 FY23 Q4 FY22 FY23 FY22 Fair Valuation of Investment in Unlisted Company - - 283 - Translation Forex Gain on ICDs to Subsidiaries 380 - 2,763 - Interest Income on IT Refund 29 - 29 444 Gain from Sale of Investment - 2,631 - 2,631 Long Term Lease Rent Waivers during pandemic - 13 - 1,239 Total 409 2,644 3,075 4,314 MHRIL Standalone - Expenses Q4 FY23 Q4 FY22 FY23 FY22 Short Term Lease Rent Waivers during pandemic - - - 355 Total - - - 355 Other Subsidiaries – Impact Q4 FY23 Q4 FY22 FY23 FY22 (Loss) / Gain on exchange fluctuation on Euro Loan (480) 27 (1,891) 797 Translation Forex Loss on ICDs to subsidiaries (184) - (1,793) - Consolidated - Impact Q4 FY23 Q4 FY22 FY23 FY22 Income 409 2,671 3,075 5,111 Expense (664) - (3,684) 355 Net PBT Impact (255) 2,671 (609) 5,466 CLUB MAHINDRA MASHOBRA A e HIMACHAL PRADESH 4 CLubMahindm MHRIL Historical Performance 59