2. What isGST?
When did GStT came into action ?
Why GST important to be paid by companies ?
How was the tax rate before GST implementd?
3. Mahindra Holidays & Resorts India Ltd (MHRIL) is a leading player in the leisure hospitality
industry incorporated in the year September 20th 1996. The company is a part of Mahindra Group
and is the market leader in the business with over 2.43 lakh members and 61 resorts. Together with
its Finnish subsidiary Holiday Club Resorts (HCR) Mahindra Holidays has a bouquet of 94 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. As of March 31 2019 the Company has 36 subsidiaries (including 30 indirect
subsidiaries) 1 Joint Venture Company (indirect) and 2 associate companies (including 1 indirect
associate).
4. IIFL Securities Limited provides capital market services in the primary and secondary markets in India. It
operates through Capital Market Activity, Insurance Broking, Facility & Ancillary, and Other segments.
The company offers retail broking products and services comprising equity, commodities and currency
broking, and equity research; advisory services, including financial planning, depository participant,
mutual funds and bonds, portfolio management services (PMS), alternate investment funds (AIFs), and
retirement and estate planning; broking services; investment banking services consisting of initial public
offerings, qualified institutional placement, right issues, preferential placement, follow-on public offer,
mergers and acquisitions, share buybacks, tender offers, and delisting’s; and advisory services for private
equity placements, and mergers and acquisitions. It also distributes third-party financial products, such as
mutual funds, insurance, PMS, AIFs, fixed deposits, loans, and pension products.
5. Companies Tax rates before GST
(MAHINDRA HOLIDAYS & RESORTS INDIA LTD
VAT – 1.62%
GAT- 1.5%
SERVICE TAX – 2%
7. 2019 - 2020 2018 - 2019
INCOME:
INCOME FROM SALE OF VACATION
OWNERSHIP AND OTHER SERVICES
97700.53 91829.15
OTHER INCOME 6011.25 4514.70
TOTAL INCOME 103711.78 96343.85
EXPENDITURE:
LESS: EMPLOYEE COST & OTHER
EXPENSES
79550.94 81183.92
PROFIT BEFORE DEPRECIATION
INTEREST AND TAXATION
24160.84 15159.93
LESS: DEPRECIATION 10166.79 5140.50
INTEREST 1599.31 2.19
PROFIT FOR THE YEAR BEFORE TAX 12394.74 10017.24
LESS: PROVISION FOR TAX -
CURRENT TAX
2520.37 2201.66
- DEFERRED TAX (NET) 722.88 1429.35
NET PROFIT FOR THE YEAR AFTER
TAX EXCLUDING IMPACT OF
CHANGE IN TAX RATE
9151.49 6386.23
ONE-TIME IMPACT ON TAX EXPENSE
DUE TO CHANGE IN TAX RATE
19972.94 -
NET PROFIT / (LOSS) FOR THE YEAR
AFTER TAX
(10821.45) 6386.23
OTHER COMPREHENSIVE INCOME
(NET OF TAX)
(54.61) 73921.20
TOTAL COMPREHENSIVE INCOME /
(LOSS) FOR THE YEAR
(10876.06) 80307.43
GST Rate -
Tariff per Night GST Rate
< Rs.1,000 No Tax
Rs.1,001 -7,500 12%
= or > INR 7,501 18%
8. PARTICULARS STANDALONE CONSOLIDATED
FY2020-21 FY2019-20 FY2020-21 FY2019-20
GROSS INCOME 7600.79 6437.43 8676.20 7899.46
PROFIT/(LOSS) BEFORE
DEPRECIATION AND TAX
2666.22 2467.30 3304.47 2550.75
DEPRECIATION (442.92) (480.60) (458.76) (553.09)
PROFIT/(LOSS) BEFORE TAX 2223.30 1986.70 2845.71 1997.66
SHARE OF PROFIT/(LOSS) OF
ASSOCIATES AND JOINT
VENTURES
- - 1.63 -
EXCEPTIONAL ITEMS - 1017.19
PROVISION FOR TAX (494.86) (431.09) (644.29) (529.87)
IMPACT OF CHANGE IN RATE
ON OPENING DEFERRED TAX
- (129.41) - (145.54)
NON-CONTROLLING
INTEREST
- 0.30 0.32
PROFIT/(LOSS) AFTER TAX 1728.44 1426.20 2203.35 2339.76
BALANCE BROUGHT
FORWARD FROM PREVIOUS
YEAR
3598.04 2882.84 4766.89 3189.53
APPROPRIATION TOWARDS
DIVIDEND PAID
(302.94) (638.47) (302.94) (638.47)
DIVIDEND DISTRIBUTION
TAX
- (72.53) - (123.92)
SURPLUS CARRIED FORWARD 5023.54 3598.04 6667.30 4766.89
EARNINGS PER SHARE ON
EQUITY SHARES OF 2 EACH
BASIC (IN ) 5.46 4.47 6.97 7.33
DILUTED (IN ) 5.42 4.46 6.91 7.31
NAME OF THE COMPANY REVENUE PROFIT AFTER TAX
IIFL FACILITIES SERVICES LIMITED 967.81 122.73
IIFL INSURANCE BROKERS LIMITED 430.91 181.82
IIFL MANAGEMENT SERVICES LIMITED 273.42 64.14
IIFL CAPITAL INC. 55.72 3.62
IIFL WEALTH (UK) LIMITED 43.79 3.55
(Rs. in Million)
The table below summarizes the financial performance of the majorsubsidiaries of the Company for the financial year ended March 31 2021:
(Rs. in Million)
GST Impact on Mutual Funds - 18% NAV GST Service
Tax
