Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: April 2, 2026, 3:48 am
Author: Getaka|Social: XLinkedIn

Phoenix Mills Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,112.11Overvalued by 26.74%vs CMP ₹1,518.00

P/E (49.1) × ROE (9.4%) × BV (₹302.00) × DY (0.16%)

₹673.08Overvalued by 55.66%vs CMP ₹1,518.00
MoS: -125.5% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,507.7523%Fair (-0.7%)
Graham NumberEarnings₹454.9517%Over (-70%)
Earnings PowerEarnings₹177.9811%Over (-88.3%)
DCFCash Flow₹836.3811%Over (-44.9%)
Net Asset ValueAssets₹301.817%Over (-80.1%)
EV/EBITDAEnterprise₹698.049%Over (-54%)
Earnings YieldEarnings₹304.607%Over (-79.9%)
ROCE CapitalReturns₹146.747%Over (-90.3%)
Revenue MultipleRevenue₹159.726%Over (-89.5%)
Consensus (9 models)₹673.08100%Overvalued
Key Drivers: EPS CAGR 35.6% lifts DCF — verify sustainability. | Wide model spread (₹147–₹1,508) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 35.6%

*Investments are subject to market risks

Investment Snapshot

56
Phoenix Mills Ltd scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health57/100 · Moderate
ROCE 10.8% AverageROE 9.4% AverageD/E 0.74 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -2.29% (6mo) SellingDII holding up 2.67% MF buyingPromoter holding at 47.3% Stable
Earnings Quality60/100 · Moderate
OPM stable around 56% SteadyWorking capital: -112 days (improving) Efficient
Quarterly Momentum58/100 · Moderate
Revenue (4Q): 2% YoY FlatProfit (4Q): +5% YoY Positive
Industry Rank50/100 · Moderate
P/E 49.1 vs industry 28.7 Premium to peersROCE 10.8% vs industry 12.3% Average3Y sales CAGR: 38% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Phoenix Mills Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 49.1 vs Ind 28.7 | ROCE 10.8% | ROE 9.4% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.74x | IntCov 0.0x | Current 0.97x | Borrow/Reserve 0.46x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹1,307 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.40 pp | DII -0.21 pp | Prom 0.00 pp
Business Momentum
-9
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +0.5% | Q NP -4.7% | Q OPM -1.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-55.7%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.46xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.40 ppLatest FII% minus previous FII%
DII Change-0.21 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-10,810Latest shareholder count minus previous count
Quarterly Sales Change+0.5%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-4.7%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-1.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:48 am

Market Cap 54,275 Cr.
Current Price 1,518
Intrinsic Value₹1,507.75
High / Low 1,993/1,402
Stock P/E49.1
Book Value 302
Dividend Yield0.16 %
ROCE10.8 %
ROE9.36 %
Face Value 2.00
PEG Ratio1.38

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

View Share Price Target for Phoenix Mills Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Phoenix Mills Ltd 54,275 Cr. 1,518 1,993/1,40249.1 3020.16 %10.8 %9.36 % 2.00
Oberoi Realty Ltd 53,613 Cr. 1,474 2,006/1,39023.8 4600.54 %17.7 %14.7 % 10.0
Godrej Properties Ltd 45,425 Cr. 1,508 2,506/1,46528.4 6080.00 %6.57 %8.98 % 5.00
Brigade Enterprises Ltd 16,451 Cr. 673 1,332/60121.7 2650.37 %13.3 %14.9 % 10.0
Anant Raj Ltd 16,130 Cr. 448 744/36630.6 1220.16 %11.2 %10.9 % 2.00
Industry Average14,426.24 Cr370.0328.73148.620.68%12.33%12.56%6.13

All Competitor Stocks of Phoenix Mills Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6847298118759861,3069049189751,0169531,1151,121
Expenses 299298318369434679373400422457389449465
Operating Profit 384431492506552627531518553560564667656
OPM % 56%59%61%58%56%48%59%56%57%55%59%60%59%
Other Income 35742932343738374642323122
Interest 87979696104100103103103949592102
Depreciation 57656366667677788190939186
Profit before tax 276343363375416489388374415418407515490
Tax % 23%14%20%19%17%20%19%22%15%17%21%26%25%
Net Profit 211292291305345392315292353348321384366
EPS in Rs 4.947.116.737.077.829.146.506.107.417.526.738.507.71

Last Updated: February 3, 2026, 9:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 4:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,4411,6391,7691,8171,6141,9771,9361,0401,4602,6163,9723,8074,206
Expenses 7628779789618309759635397251,0961,7901,6451,759
Operating Profit 6797627908567841,0019735017351,5192,1822,1622,447
OPM % 47%47%45%47%49%51%50%48%50%58%55%57%58%
Other Income 47-63-113950125608674721126163127
Interest 345396443424349351348348295341396403384
Depreciation 105168177195198204208209186228270327361
Profit before tax 275136159276287572478293281,6711,6431,5951,829
Tax % 33%36%48%31%26%19%26%-16%24%12%19%18%
Net Profit 1829184191256497388482681,4781,3331,3071,419
EPS in Rs 4.431.224.215.497.9113.7310.911.686.6537.3730.7627.5330.46
Dividend Payout % 25%90%26%22%16%11%0%31%18%7%8%9%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-50.00%-7.69%127.38%34.03%94.14%-21.93%-87.63%458.33%451.49%-9.81%-1.95%
Change in YoY Net Profit Growth (%)0.00%42.31%135.07%-93.35%60.11%-116.07%-65.70%545.96%-6.84%-461.30%7.86%

Phoenix Mills Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:15%
3 Years:38%
TTM:-5%
Compounded Profit Growth
10 Years:36%
5 Years:24%
3 Years:60%
TTM:-10%
Stock Price CAGR
10 Years:25%
5 Years:36%
3 Years:29%
1 Year:-16%
Return on Equity
10 Years:9%
5 Years:9%
3 Years:11%
Last Year:10%

Last Updated: September 5, 2025, 1:46 pm

Balance Sheet

Last Updated: December 4, 2025, 2:06 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 29293131313131363636367272
Reserves 1,6951,6451,9972,1192,8213,4433,6785,0036,5478,3449,42210,37710,719
Borrowings 3,4063,4023,8893,6263,6664,2444,3084,0633,9824,2594,6394,6874,910
Other Liabilities 1,6301,5651,5071,2331,9792,3982,5282,2883,7654,7875,0036,2927,111
Total Liabilities 6,7606,6417,4247,0088,49710,11610,54511,38914,33017,42619,10021,42722,812
Fixed Assets 4,1704,1304,5484,5005,6686,5226,4537,2077,50810,96413,13714,46614,392
CWIP 2352141953285038961,5341,2742,0492,2951,5033,1433,575
Investments 3542001614108297455905762,3171,2821,7251,4651,925
Other Assets 2,0012,0972,5201,7701,4981,9521,9682,3332,4562,8842,7342,3532,920
Total Assets 6,7606,6417,4247,0088,49710,11610,54511,38914,33017,42619,10021,42722,812

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3775644971,4191,5143507394327811,3562,1612,084
Cash from Investing Activity + -1,246-102-377-354-1,825-1,394-362-950-2,841-1,528-1,859-2,162
Cash from Financing Activity + 886-455-71-1,1082771,053-2875222,228132-299-47
Net Cash Flow 17750-43-339903167-403-126
Free Cash Flow -1,1054561121,23413-1,110-3309-447-468488-532
CFO/OP 72%86%80%171%196%43%87%84%114%103%114%110%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow676.00759.00787.00853.00781.00-3.00969.00497.00732.00-3.00-2.00-2.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 5049573029363811470332522
Inventory Days 854
Days Payable 224
Cash Conversion Cycle 50495730293638114703365422
Working Capital Days 799113440-150-77-94-212-160-111-78-112
ROCE %12%11%11%11%10%11%9%4%5%10%12%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 47.30%47.29%47.29%47.28%47.28%47.27%47.26%47.26%47.26%47.26%47.25%47.25%
FIIs 30.38%28.56%30.01%30.80%32.82%35.41%35.50%35.66%36.14%36.27%33.45%33.85%
DIIs 18.05%19.93%18.51%17.70%15.79%13.33%13.17%13.03%12.59%12.72%15.47%15.26%
Public 4.26%4.22%4.18%4.22%4.12%3.98%4.07%4.06%3.99%3.74%3.84%3.64%
No. of Shareholders 60,95563,02469,52368,84776,90274,05187,74889,28888,53185,49886,58975,779

Shareholding Pattern Chart

No. of Shareholders

Phoenix Mills Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Axis Midcap Fund 3,700,614 1.92 613.783,546,5292025-12-14 15:30:304.34%
DSP Mid Cap Fund 2,637,188 2.23 437.43,303,7522025-11-03 18:18:56-20.18%
ICICI Prudential Focused Equity Fund 2,621,980 2.87 434.881,731,4832026-03-24 02:13:2751.43%
ICICI Prudential Balanced Advantage Fund 2,089,259 0.49 346.522,539,2592026-01-26 08:05:08-17.72%
SBI Midcap Fund 2,000,000 1.43 331.72N/AN/AN/A
Axis Small Cap Fund 1,681,118 1.07 278.831,156,9282025-11-03 18:18:5645.31%
DSP Large & Mid Cap Fund 1,657,702 1.56 274.95N/AN/AN/A
UTI Mid Cap Fund 1,626,244 2.3 269.731,700,0002026-03-12 02:43:31-4.34%
Sundaram Mid Cap Fund 1,413,445 1.77 234.431,427,0222026-02-22 13:00:50-0.95%
Aditya Birla Sun Life Focused Fund 1,367,929 2.85 226.88825,7972025-11-03 18:18:5665.65%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 27.5361.3674.7613.313.20
Diluted EPS (Rs.) 27.5261.3174.7113.303.19
Cash EPS (Rs.) 45.5489.3495.2024.3014.16
Book Value[Excl.RevalReserv]/Share (Rs.) 292.24693.21620.13504.78360.96
Book Value[Incl.RevalReserv]/Share (Rs.) 292.24693.21620.13504.78360.96
Revenue From Operations / Share (Rs.) 106.67222.59147.7283.1062.45
PBDIT / Share (Rs.) 64.67129.2191.5545.2834.12
PBIT / Share (Rs.) 55.54114.0978.8034.8721.94
PBT / Share (Rs.) 44.6291.9493.5818.381.70
Net Profit / Share (Rs.) 36.4074.2282.4413.891.97
NP After MI And SOA / Share (Rs.) 27.5361.5174.7413.303.06
PBDIT Margin (%) 60.6258.0461.9754.4954.64
PBIT Margin (%) 52.0651.2553.3441.9635.12
PBT Margin (%) 41.8241.3063.3522.112.72
Net Profit Margin (%) 34.1233.3455.8116.713.15
NP After MI And SOA Margin (%) 25.8027.6350.5915.994.90
Return on Networth / Equity (%) 9.4211.6215.933.601.07
Return on Capital Employeed (%) 10.3611.969.375.064.01
Return On Assets (%) 4.575.707.581.650.45
Long Term Debt / Equity (X) 0.360.400.390.470.61
Total Debt / Equity (X) 0.440.480.500.600.74
Asset Turnover Ratio (%) 0.180.210.160.110.03
Current Ratio (X) 1.141.511.341.870.97
Quick Ratio (X) 0.811.160.871.500.60
Inventory Turnover Ratio (X) 4.900.000.000.000.00
Dividend Payout Ratio (NP) (%) 9.088.133.217.240.00
Dividend Payout Ratio (CP) (%) 6.816.522.744.060.00
Earning Retention Ratio (%) 90.9291.8796.7992.760.00
Cash Earning Retention Ratio (%) 93.1993.4897.2695.940.00
Interest Coverage Ratio (X) 5.735.834.792.751.69
Interest Coverage Ratio (Post Tax) (X) 4.204.353.541.841.10
Enterprise Value (Cr.) 66162.7156345.3829564.2025443.8717903.44
EV / Net Operating Revenue (X) 17.3514.1711.2117.1516.68
EV / EBITDA (X) 28.6224.4018.0831.4830.53
MarketCap / Net Operating Revenue (X) 15.3712.458.8113.2312.53
Retention Ratios (%) 90.9191.8696.7892.750.00
Price / BV (X) 5.615.242.772.982.75
Price / Net Operating Revenue (X) 15.3712.458.8113.2312.53
EarningsYield 0.010.020.050.010.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 Real estate activities with own or leased property. Company's Total Operating Revenue is Rs. 486.12 Cr. and Equity Capital is Rs. 71.50 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Realty462, Senapati Bapat Marg, Lower Parel, Mumbai Maharashtra 400013Contact not found
Management
NamePosition Held
Mr. Atul RuiaChairman
Mr. Shishir ShrivastavaManaging Director
Ms. Rashmi SenWhole Time Director
Mr. Rajesh KulkarniWhole Time Director
Mr. Sumanta DattaInd. Non-Executive Director
Dr. Archana HingoraniInd. Non-Executive Director
Mr. Sumeet AnandInd. Non-Executive Director
Mr. Anand KhatauInd. Non-Executive Director

FAQ

What is the intrinsic value of Phoenix Mills Ltd and is it undervalued?

As of 05 April 2026, Phoenix Mills Ltd's intrinsic value is ₹673.08, which is 55.66% lower than the current market price of ₹1,518.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (9.36 %), book value (₹302), dividend yield (0.16 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Phoenix Mills Ltd?

Phoenix Mills Ltd is trading at ₹1,518.00 as of 05 April 2026, with a FY2026-2027 high of ₹1,993 and low of ₹1,402. The stock is currently near its 52-week low. Market cap stands at ₹54,275 Cr..

How does Phoenix Mills Ltd's P/E ratio compare to its industry?

Phoenix Mills Ltd has a P/E ratio of 49.1, which is above the industry average of 28.73. The premium over industry average may reflect growth expectations or speculative interest.

Is Phoenix Mills Ltd financially healthy?

Key indicators for Phoenix Mills Ltd: ROCE of 10.8 % is moderate. Dividend yield is 0.16 %.

Is Phoenix Mills Ltd profitable and how is the profit trend?

Phoenix Mills Ltd reported a net profit of ₹1,307 Cr in Mar 2025 on revenue of ₹3,807 Cr. Compared to ₹268 Cr in Mar 2022, the net profit shows an improving trend.

Does Phoenix Mills Ltd pay dividends?

Phoenix Mills Ltd has a dividend yield of 0.16 % at the current price of ₹1,518.00. The company pays dividends, though the yield is modest.

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
Explore Industry-wise Stock Analysis Reports