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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Phoenix Mills Ltd

About the Company - Phoenix Mills Ltd

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
Mr. Rajendra KalkarWhole Time Director
Mr. Rajesh KulkarniWhole Time Director
Mr. Amit DabriwalaInd. Non-Executive Director
Mr. Amit DalalInd. Non-Executive Director
Mr. Sivaramakrishnan IyerInd. Non-Executive Director
Ms. Shweta VyasInd. Non-Executive Director

Phoenix Mills Ltd. Share Price Update

Share PriceValue
Today₹2,783.60
Previous Day₹2,802.95

Basic Stock Data of Phoenix Mills Ltd

Market Cap 49,578 Cr.
Current Price 2,775
High / Low2,968/1,186
Stock P/E50.0
Book Value 494
Dividend Yield0.18 %
ROCE9.94 %
ROE11.4 %
Face Value 2.00

Data Source: screener.in

Competitors of Phoenix Mills Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Parshwanath Corporation Ltd 22.4 Cr. 71.585.0/26.043.1 36.00.00 %2.50 %2.20 % 10.0
PSP Projects Ltd 2,561 Cr. 711846/65216.6 2410.36 %24.8 %18.1 % 10.0
Prestige Estates Projects Ltd 48,218 Cr. 1,2031,440/39228.5 2750.12 %10.3 %7.56 % 10.0
Sadbhav Engineering Ltd 583 Cr. 34.034.3/8.50 7.340.00 %4.85 %60.2 % 1.00
Salasar Exteriors & Contour Ltd 221 Cr. 21.436.8/18.6 1.150.00 %3.18 %7.01 % 1.00
Industry Average10,321.08 Cr408.1817.64112.100.10%9.13%19.01%6.40

Phoenix Mills Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales215328386204364425495574651684729811875
Expenses123169212128177195254251270299298318369
Operating Profit9215917376186230241323381384431492506
OPM %43%48%45%37%51%54%49%56%58%56%59%61%58%
Other Income141550121622245803235742932
Interest94868172756978748387979696
Depreciation54535248484644505657656366
Profit before tax-423590-3279138143779274276343363375
Tax %6%-71%29%-8%20%26%18%4%19%23%14%20%19%
Net Profit-386672-3365114122752222211292291305
EPS in Rs-2.093.973.81-1.523.375.745.8740.2510.419.8814.2313.4614.14

Phoenix Mills Ltd Quarterly Chart

Phoenix Mills Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3944661,4411,6391,7691,8171,6141,9771,9361,0401,4602,6163,099
Expenses1842027628779789618309759635397251,0961,285
Operating Profit2102636797627908567841,0019735017351,5201,813
OPM %53%57%47%47%45%47%49%51%50%48%50%58%59%
Other Income465147-63-113950125608674721169
Interest95143345396443424349351348348295342376
Depreciation5647105168177195198204208209186228251
Profit before tax105124275136159276287572478293281,6711,356
Tax %18%34%33%36%48%31%26%19%26%-16%24%12%
Net Profit96821829184191256497388482681,4781,100
EPS in Rs7.295.818.872.448.4310.9715.8327.4721.813.3513.3074.7451.71
Dividend Payout %27%38%25%90%26%22%16%11%0%31%18%7%

Phoenix Mills Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-14.58%121.95%-50.00%-7.69%127.38%34.03%94.14%-21.93%-87.63%458.33%451.49%
Change in YoY Net Profit Growth (%)0.00%136.53%-171.95%42.31%135.07%-93.35%60.11%-116.07%-65.70%545.96%-6.84%

Phoenix Mills Ltd Growth

Compounded Sales Growth
10 Years:19%
5 Years:10%
3 Years:11%
TTM:44%
Compounded Profit Growth
10 Years:27%
5 Years:30%
3 Years:38%
TTM:48%
Stock Price CAGR
10 Years:29%
5 Years:36%
3 Years:49%
1 Year:88%
Return on Equity
10 Years:7%
5 Years:8%
3 Years:6%
Last Year:11%

Phoenix Mills Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital29292929313131313136363636
Reserves1,6821,7401,6951,6451,9972,1192,8213,4433,6785,0036,5478,3448,795
Borrowings1,6682,1963,4063,4023,8893,6263,6664,2444,3084,0633,9824,2594,505
Other Liabilities7341,0461,6301,5651,5071,2331,9792,3982,5282,2883,7654,7875,328
Total Liabilities4,1135,0116,7606,6417,4247,0088,49710,11610,54511,38914,33017,42618,664
Fixed Assets1,1882,7844,1704,1304,5484,5005,6686,5226,4537,2077,50810,96411,807
CWIP1,3591672352141953285038961,5341,2742,0492,2951,870
Investments4875553542001614108297455905762,3171,2821,827
Other Assets1,0791,5052,0012,0972,5201,7701,4981,9521,9682,3332,4562,8843,160
Total Assets4,1135,0116,7606,6417,4247,0088,49710,11610,54511,38914,33017,42618,664

Phoenix Mills Ltd Reserves and Borrowings Chart

Phoenix Mills Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 382243775644971,4191,5143507394327811,356
Cash from Investing Activity -848-470-1,246-102-377-354-1,825-1,394-362-950-2,841-1,528
Cash from Financing Activity 485399886-455-71-1,1082771,053-2875222,228137
Net Cash Flow19-4717750-43-339903167-35

Phoenix Mills Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days5766504957302936381147033
Inventory Days2,511
Days Payable687
Cash Conversion Cycle1,88166504957302936381147033
Working Capital Days-2214814214118490-9325341355032
ROCE %6%6%12%11%11%11%10%11%9%4%5%10%

Phoenix Mills Ltd Financial Efficiency Indicators Chart

Phoenix Mills Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters45.51%45.50%45.48%45.43%47.33%47.32%47.31%47.31%47.30%47.29%47.29%47.28%
FIIs34.30%34.43%32.29%31.60%30.69%31.60%30.60%29.27%30.38%28.56%30.01%30.80%
DIIs16.54%16.21%18.04%18.61%17.46%16.68%17.61%19.02%18.05%19.93%18.51%17.70%
Public3.65%3.85%4.19%4.35%4.52%4.40%4.48%4.40%4.26%4.22%4.18%4.22%
No. of Shareholders22,77326,83433,11636,12939,28439,90642,82858,41460,95563,02469,52368,847

Phoenix Mills Ltd Shareholding Pattern Chart

No. of Phoenix Mills Ltd Shareholders

Phoenix Mills Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
DSP Mid Cap Fund33181624.44744.81
Axis Midcap Fund22991522.1516.08
PGIM India Midcap Opportunities Fund13537393.03303.87
Axis Small Cap Fund11569281.4259.69
SBI Magnum Midcap Fund10000001.45224.47
Aditya Birla Sun Life Focused Fund9257973.07207.81
UTI Mid Cap Fund8860282.03198.88
Axis Multicap Fund7991803.76179.39
DSP Equity Opportunities Fund7724041.67173.38
Aditya Birla Sun Life ELSS Tax Saver Fund7424091.12166.64

Phoenix Mills Ltd ROCE Trend

Phoenix Mills Ltd EPS Trend

Phoenix Mills Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)74.7613.313.2021.8227.48
Diluted EPS (Rs.)74.7113.303.1921.7727.40
Cash EPS (Rs.)95.2024.3014.1636.7243.44
Book Value[Excl.RevalReserv]/Share (Rs.)620.13504.78360.96324.98306.44
Book Value[Incl.RevalReserv]/Share (Rs.)620.13504.78360.96324.98306.44
Revenue From Operations / Share (Rs.)147.7283.1062.45126.49129.27
PBDIT / Share (Rs.)91.5545.2834.1266.8370.34
PBIT / Share (Rs.)78.8034.8721.9453.3057.02
PBT / Share (Rs.)93.5818.381.7031.1537.29
Net Profit / Share (Rs.)82.4413.891.9723.1930.12
NP After MI And SOA / Share (Rs.)74.7413.303.0621.8127.47
PBDIT Margin (%)61.9754.4954.6452.8354.41
PBIT Margin (%)53.3441.9635.1242.1444.10
PBT Margin (%)63.3522.112.7224.6228.84
Net Profit Margin (%)55.8116.713.1518.3323.29
NP After MI And SOA Margin (%)50.5915.994.9017.2421.24
Return on Networth / Equity (%)15.933.601.079.0212.11
Return on Capital Employeed (%)9.375.064.019.5010.51
Return On Assets (%)7.581.650.453.174.16
Long Term Debt / Equity (X)0.390.470.610.910.98
Total Debt / Equity (X)0.500.600.741.111.15
Asset Turnover Ratio (%)0.160.110.030.060.07
Current Ratio (X)1.341.870.970.891.04
Quick Ratio (X)0.871.500.600.470.53
Dividend Payout Ratio (NP) (%)3.217.240.0015.099.46
Dividend Payout Ratio (CP) (%)2.744.060.009.316.37
Earning Retention Ratio (%)96.7992.760.0084.9190.54
Cash Earning Retention Ratio (%)97.2695.940.0090.6993.63
Interest Coverage Ratio (X)4.792.751.692.953.08
Interest Coverage Ratio (Post Tax) (X)3.541.841.102.002.18
Enterprise Value (Cr.)29564.2025443.8717903.4414024.4215170.90
EV / Net Operating Revenue (X)11.2117.1516.687.227.66
EV / EBITDA (X)18.0831.4830.5313.6714.07
MarketCap / Net Operating Revenue (X)8.8113.2312.534.525.13
Retention Ratios (%)96.7892.750.0084.9090.53
Price / BV (X)2.772.982.752.372.92
Price / Net Operating Revenue (X)8.8113.2312.534.525.13
EarningsYield0.050.010.000.030.04

Phoenix Mills Ltd Profitability Ratios (%)

Phoenix Mills Ltd Liquidity Ratios

Phoenix Mills Ltd Liquidity Ratios (%)

Phoenix Mills Ltd Interest Coverage Ratios (X)

Phoenix Mills Ltd Valuation Ratios

Fair Value / Intrinsic Value of Phoenix Mills Ltd

Fair Value: ₹2820.87

The stock is undervalued by 1.65% compared to the current price ₹2775

*Investments are subject to market risks

Strength and Weakness of Phoenix Mills Ltd

StrengthWeakness
  1. The company has higher reserves (3,808.38 cr) compared to borrowings (3,631.85 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (67.23 cr) and profit (213.15 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 49.19 and average Dividend Yield of 43.33%.
  2. The stock has a low average ROCE of 8.83%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 72.17, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 47.75, which may not be favorable.

Should I Buy AGI Infra Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Phoenix Mills Ltd:
    1. Net Profit Margin: 55.81%
      • 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: 9.37% (Industry Average ROCE: 8.83%)
      • 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. Interest Coverage Ratio (Post Tax): 3.54
      • 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.
    4. Quick Ratio: 0.87
      • 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.
    5. ✗ Stock P/E: 52.5 (Industry average Stock P/E: 18.94)
      • 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.
    6. ✓ Total Debt / Equity: 0.50
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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