Incredible. On a phone conversation today about Club Mahindra, I look up the chart, and look, IPO Price of 2009: 
I've written about this from the IPO at: capitalmind.in/2009/06/mahind…
(It's given a 1:2 bonus since then, so the adjusted price is about 200, compared to today's 219)
(It's given a 1:2 bonus since then, so the adjusted price is about 200, compared to today's 219)
The simple equation remains: Can they satisfy their members' needs? I had looked in 2010 and my answer was: They could only give 65% of their members a room even if evenly spread through the year: capitalmind.in/2010/12/mahind…
Now, they have 3650 rooms. And 254,000 members. A member gets a week a year, so a room can be used by 52 members in a year, max. (Evenly spread out holidays across members and locations assumed)
With that, they can only service 3650*52=190,000 members. Out of 254,000.
With that, they can only service 3650*52=190,000 members. Out of 254,000.
That means capacity is still only 75% of the total, which explains comments like "I can never book a room when I want" etc.
Plus there are bookings on Club Mahindra for non-members available on other travel websites.
Plus there are bookings on Club Mahindra for non-members available on other travel websites.
Simply put, room inventory isn't enough. The financial show destruction, partly due to INDAS, but profits after tax are roughly the same as profits of 2009, even though revenue's up substantially. The stock hasn't gone anywhere either.
On my last post in 2016 I was asked this simple question: Why do you bother tracking this company when you don't want to buy the stock, or their vacation package, or anything? So this thread won't make it to a post, but it's food for thought.
