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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Phoenix Mills Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 9:20 pm

Market Cap 54,916 Cr.
Current Price 1,534
High / Low2,068/1,071
Stock P/E52.0
Book Value 279
Dividend Yield0.16 %
ROCE12.4 %
ROE12.1 %
Face Value 2.00
PEG Ratio2.26

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Phoenix Mills Ltd

Competitors of Phoenix Mills Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Hampton Sky Realty Ltd 661 Cr. 24.158.2/22.425.7 5.740.00 %15.7 %10.6 % 1.00
Grovy India Ltd 93.1 Cr. 69.898.2/22.6 14.00.04 %5.79 %5.27 % 10.0
Gothi Plascon (India) Ltd 37.0 Cr. 36.353.9/28.728.3 12.45.51 %17.8 %12.9 % 10.0
Generic Engineering Construction & Projects Ltd 217 Cr. 38.471.0/32.619.5 48.70.00 %6.62 %4.37 % 5.00
Garnet Construction Ltd 55.2 Cr. 39.757.2/16.58.29 73.30.00 %4.51 %3.13 % 10.0
Industry Average19,106.14 Cr484.2349.98130.680.53%9.56%7.85%6.07

All Competitor Stocks of Phoenix Mills Ltd

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales2043644254955746516847298118759861,306904
Expenses128177195254251270299298318369434679373
Operating Profit76186230241323381384431492506552627531
OPM %37%51%54%49%56%58%56%59%61%58%56%48%59%
Other Income121622245803235742932343738
Interest72756978748387979696104100103
Depreciation48484644505657656366667677
Profit before tax-3279138143779274276343363375416489388
Tax %8%20%26%18%4%19%23%14%20%19%17%20%19%
Net Profit-3365114122752222211292291305345392315
EPS in Rs-1.523.375.745.8740.2510.419.8814.2313.4614.1415.6418.2813.01

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales4661,4411,6391,7691,8171,6141,9771,9361,0401,4602,6163,978
Expenses2027628779789618309759635397251,0961,801
Operating Profit2636797627908567841,0019735017351,5202,177
OPM %57%47%47%45%47%49%51%50%48%50%58%55%
Other Income5147-63-113950125608674721132
Interest143345396443424349351348348295342396
Depreciation47105168177195198204208209186228270
Profit before tax124275136159276287572478293281,6711,643
Tax %34%33%36%48%31%26%19%26%-16%24%12%19%
Net Profit821829184191256497388482681,4781,333
EPS in Rs5.818.872.448.4310.9715.8327.4721.813.3513.3074.7461.51
Dividend Payout %38%25%90%26%22%16%11%0%31%18%7%8%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)121.95%-50.00%-7.69%127.38%34.03%94.14%-21.93%-87.63%458.33%451.49%-9.81%
Change in YoY Net Profit Growth (%)0.00%-171.95%42.31%135.07%-93.35%60.11%-116.07%-65.70%545.96%-6.84%-461.30%

Phoenix Mills Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:15%
3 Years:56%
TTM:33%
Compounded Profit Growth
10 Years:25%
5 Years:23%
3 Years:179%
TTM:19%
Stock Price CAGR
10 Years:23%
5 Years:34%
3 Years:45%
1 Year:38%
Return on Equity
10 Years:8%
5 Years:8%
3 Years:10%
Last Year:12%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:43 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital29292931313131313636363672
Reserves1,7401,6951,6451,9972,1192,8213,4433,6785,0036,5478,3449,4229,918
Borrowings2,1963,4063,4023,8893,6263,6664,2444,3084,0633,9824,2594,6394,662
Other Liabilities1,0461,6301,5651,5071,2331,9792,3982,5282,2883,7654,7875,0515,603
Total Liabilities5,0116,7606,6417,4247,0088,49710,11610,54511,38914,33017,42619,14820,255
Fixed Assets2,7844,1704,1304,5484,5005,6686,5226,4537,2077,50810,96413,13713,794
CWIP1672352141953285038961,5341,2742,0492,2951,5031,896
Investments5553542001614108297455905762,3171,2821,7251,888
Other Assets1,5052,0012,0972,5201,7701,4981,9521,9682,3332,4562,8842,7822,677
Total Assets5,0116,7606,6417,4247,0088,49710,11610,54511,38914,33017,42619,14820,255

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +243775644971,4191,5143507394327811,3562,162
Cash from Investing Activity +-470-1,246-102-377-354-1,825-1,394-362-950-2,841-1,528-1,859
Cash from Financing Activity +399886-455-71-1,1082771,053-2875222,228132-299
Net Cash Flow-4717750-43-339903167-403

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow261.00676.00759.00787.00853.00781.00-3.00969.00497.00732.00-3.00-2.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days6650495730293638114703325
Inventory Days854
Days Payable224
Cash Conversion Cycle66504957302936381147033654
Working Capital Days14814214118490-9325341355021-8
ROCE %6%12%11%11%11%10%11%9%4%5%10%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters45.43%47.33%47.32%47.31%47.31%47.30%47.29%47.29%47.28%47.28%47.27%47.26%
FIIs31.60%30.69%31.60%30.60%29.27%30.38%28.56%30.01%30.80%32.82%35.41%35.50%
DIIs18.61%17.46%16.68%17.61%19.02%18.05%19.93%18.51%17.70%15.79%13.33%13.17%
Public4.35%4.52%4.40%4.48%4.40%4.26%4.22%4.18%4.22%4.12%3.98%4.07%
No. of Shareholders36,12939,28439,90642,82858,41460,95563,02469,52368,84776,90274,05187,748

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Mid Cap Fund3,303,7524.84800.761,156,9282024-11-20185.56%
Axis Midcap Fund2,299,1522.27557.271,156,9282024-11-2098.73%
PGIM India Midcap Opportunities Fund1,353,7393.29328.121,156,9282024-11-2017.01%
Axis Small Cap Fund1,156,9281.44280.421,156,9282024-11-200%
SBI Magnum Midcap Fund1,000,0001.52242.381,156,9282024-11-20-13.56%
UTI Mid Cap Fund886,0282.13214.761,156,9282024-11-20-23.42%
Aditya Birla Sun Life Focused Fund825,7972.91200.161,156,9282024-11-20-28.62%
DSP Equity Opportunities Fund772,4041.76187.221,156,9282024-11-20-33.24%
ICICI Prudential MidCap Fund706,6913.16171.291,156,9282024-11-20-38.92%
Aditya Birla Sun Life ELSS Tax Saver Fund607,4090.98147.221,156,9282024-11-20-47.5%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)61.3674.7613.313.2021.82
Diluted EPS (Rs.)61.3174.7113.303.1921.77
Cash EPS (Rs.)89.3495.2024.3014.1636.72
Book Value[Excl.RevalReserv]/Share (Rs.)693.21620.13504.78360.96324.98
Book Value[Incl.RevalReserv]/Share (Rs.)693.21620.13504.78360.96324.98
Revenue From Operations / Share (Rs.)222.59147.7283.1062.45126.49
PBDIT / Share (Rs.)129.2191.5545.2834.1266.83
PBIT / Share (Rs.)114.0978.8034.8721.9453.30
PBT / Share (Rs.)91.9493.5818.381.7031.15
Net Profit / Share (Rs.)74.2282.4413.891.9723.19
NP After MI And SOA / Share (Rs.)61.5174.7413.303.0621.81
PBDIT Margin (%)58.0461.9754.4954.6452.83
PBIT Margin (%)51.2553.3441.9635.1242.14
PBT Margin (%)41.3063.3522.112.7224.62
Net Profit Margin (%)33.3455.8116.713.1518.33
NP After MI And SOA Margin (%)27.6350.5915.994.9017.24
Return on Networth / Equity (%)11.6215.933.601.079.02
Return on Capital Employeed (%)11.969.375.064.019.50
Return On Assets (%)5.707.581.650.453.17
Long Term Debt / Equity (X)0.400.390.470.610.91
Total Debt / Equity (X)0.480.500.600.741.11
Asset Turnover Ratio (%)0.210.160.110.030.06
Current Ratio (X)1.511.341.870.970.89
Quick Ratio (X)1.160.871.500.600.47
Dividend Payout Ratio (NP) (%)8.133.217.240.0015.09
Dividend Payout Ratio (CP) (%)6.522.744.060.009.31
Earning Retention Ratio (%)91.8796.7992.760.0084.91
Cash Earning Retention Ratio (%)93.4897.2695.940.0090.69
Interest Coverage Ratio (X)5.834.792.751.692.95
Interest Coverage Ratio (Post Tax) (X)4.353.541.841.102.00
Enterprise Value (Cr.)56345.3829564.2025443.8717903.4414024.42
EV / Net Operating Revenue (X)14.1711.2117.1516.687.22
EV / EBITDA (X)24.4018.0831.4830.5313.67
MarketCap / Net Operating Revenue (X)12.458.8113.2312.534.52
Retention Ratios (%)91.8696.7892.750.0084.90
Price / BV (X)5.242.772.982.752.37
Price / Net Operating Revenue (X)12.458.8113.2312.534.52
EarningsYield0.020.050.010.000.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Phoenix Mills Ltd as of November 21, 2024 is: 1,758.28

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, Phoenix Mills Ltd is Undervalued by 14.62% compared to the current share price 1,534.00

Intrinsic Value of Phoenix Mills Ltd as of November 21, 2024 is: 2,163.45

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, Phoenix Mills Ltd is Undervalued by 41.03% compared to the current share price 1,534.00

Last 5 Year EPS CAGR: 23.04%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (4,490.15 cr) compared to borrowings (3,872.46 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (40.00 cr) and profit (222.17 cr) over the years.
  1. The stock has a low average ROCE of 9.33%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 72.42, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 102.17, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Phoenix Mills Ltd:
    1. Net Profit Margin: 33.34%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 11.96% (Industry Average ROCE: 9.56%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 11.62% (Industry Average ROE: 7.85%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 4.35
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.16
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 52 (Industry average Stock P/E: 49.98)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.48
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Phoenix Mills Ltd. is a Public Limited Listed company incorporated on 27/01/1905 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L17100MH1905PLC000200 and registration number is 000200. Currently Company is involved in the business activities of Construction of buildings carried out on own-account basis or on a fee or contract basis. Company’s Total Operating Revenue is Rs. 283.59 Cr. and Equity Capital is Rs. 35.70 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Realty462, Senapati Bapat Marg, Lower Parel, Mumbai Maharashtra 400013investorrelations@highstreetphoenix.com
http://www.thephoenixmills.com
Management
NamePosition Held
Mr. Atul RuiaChairman
Mr. Shishir ShrivastavaManaging Director
Ms. Rashmi SenWhole Time Director
Mr. Rajesh KulkarniWhole Time Director
Ms. Shweta VyasInd. Non-Executive Director
Dr. Archana HingoraniInd. Non-Executive Director
Mr. Sumeet AnandInd. Non-Executive Director
Mr. Anand KhatauInd. Non-Executive Director
Mr. Sumanta DattaInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Phoenix Mills Ltd?

The latest intrinsic value of Phoenix Mills Ltd as on 21 November 2024 is ₹1758.28, which is 14.62% higher than the current market price of ₹1,534.00.

What is the Market Cap of Phoenix Mills Ltd?

The Market Cap of Phoenix Mills Ltd is 54,916 Cr..

What is the current Stock Price of Phoenix Mills Ltd as on 21 November 2024?

The current stock price of Phoenix Mills Ltd as on 21 November 2024 is ₹1,534.

What is the High / Low of Phoenix Mills Ltd stocks in FY 2024?

In FY 2024, the High / Low of Phoenix Mills Ltd stocks is 2,068/1,071.

What is the Stock P/E of Phoenix Mills Ltd?

The Stock P/E of Phoenix Mills Ltd is 52.0.

What is the Book Value of Phoenix Mills Ltd?

The Book Value of Phoenix Mills Ltd is 279.

What is the Dividend Yield of Phoenix Mills Ltd?

The Dividend Yield of Phoenix Mills Ltd is 0.16 %.

What is the ROCE of Phoenix Mills Ltd?

The ROCE of Phoenix Mills Ltd is 12.4 %.

What is the ROE of Phoenix Mills Ltd?

The ROE of Phoenix Mills Ltd is 12.1 %.

What is the Face Value of Phoenix Mills Ltd?

The Face Value of Phoenix Mills Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Phoenix Mills Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE