MarketFriction

Phoenix Mills Ltd

NSE PHOENIXLTD · BSE 503100 · Residential, Commercial Projects
₹1,930.00 -0.26%
NSE close2026-10-01
52 week range1,465.60 - 2,169.80
Market cap₹68,996 Cr.
P/E53.2
Nifty 200Nifty 500Nifty Midcap 50Nifty Midcap 100Midcap 150Nifty Realty No price band Delivery 59.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales8759861,3069049189751,0169531,1151,1211,2331,075
Expenses369434679373400422457389449465484433
Operating Profit506552627531518553560564667656750642
OPM %58%56%48%59%56%57%55%59%60%59%61%60%
Other Income323437383746423231225740
Interest961041001031031039495921029794
Depreciation666676777881909391868996
Profit before tax375416489388374415418407515490620492
Tax %19%17%20%19%22%15%17%21%26%25%22%20%
Net Profit305345392315292353348321384366485394
EPS in Rs7.077.829.146.506.107.417.526.738.507.7111.288.30
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,7691,8171,6141,9771,9361,0401,4602,6163,9723,8074,4184,545
Expenses9789618309759635397251,0961,7901,6451,7801,830
Operating Profit7908567841,0019735017351,5192,1822,1622,6382,714
OPM %45%47%49%51%50%48%50%58%55%57%60%60%
Other Income-113950125608674721126163140150
Interest443424349351348348295341396403387386
Depreciation177195198204208209186228270327360362
Profit before tax159276287572478293281,6711,6431,5952,0322,117
Tax %48%31%26%19%26%-16%24%12%19%18%23%
Net Profit84191256497388482681,4781,3331,3071,5571,630
EPS in Rs4.215.497.9113.7310.911.686.6537.3730.7627.5334.2235.79
Dividend Payout %26%22%16%11%0%31%18%7%8%9%7%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%34%19%18%
Compounded Profit Growth24%81%12%32%
Stock Price CAGR26%32%29%24%
Return on Equity9%10%11%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital293131313131363636367272
Reserves1,6451,9972,1192,8213,4433,6785,0036,5478,3449,42210,37710,917
Borrowings3,4023,8893,6263,6664,2444,3084,0633,9824,2594,6394,6875,323
Other Liabilities1,5651,5071,2331,9792,3982,5282,2883,7654,7875,0036,2926,485
Total Liabilities6,6417,4247,0088,49710,11610,54511,38914,33017,42619,10021,42722,796
Fixed Assets4,1304,5484,5005,6686,5226,4537,2077,50810,96413,13714,46614,772
CWIP2141953285038961,5341,2742,0492,2951,5033,1433,879
Investments2001614108297455905762,3171,2821,7251,4651,490
Other Assets2,0972,5201,7701,4981,9521,9682,3332,4562,8842,7342,3532,656
Total Assets6,6417,4247,0088,49710,11610,54511,38914,33017,42619,10021,42722,796
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5644971,4191,5143507394327811,3562,1612,0842,426
Cash from Investing Activity-102-377-354-1,825-1,394-362-950-2,841-1,528-1,859-2,162-1,646
Cash from Financing Activity-455-71-1,1082771,053-2875222,228132-299-47-731
Net Cash Flow750-43-339903167-403-12650
Free Cash Flow4561121,23413-1,110-3309774-468488-5321,029
CFO/OP86%80%171%196%43%87%84%114%103%114%110%104%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days4957302936381147033252226
Inventory Days854
Days Payable224
Cash Conversion Cycle49573029363811470336542226
Working Capital Days9113440-150-77-94-212-160-111-78-112-94
ROCE %11%11%11%10%11%9%4%5%10%12%11%12%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters47.29%47.28%47.28%47.27%47.26%47.26%47.26%47.26%47.25%47.25%47.25%47.25%
FIIs30.01%30.80%32.82%35.41%35.50%35.66%36.14%36.27%33.45%33.85%32.97%31.73%
DIIs18.51%17.70%15.79%13.33%13.17%13.03%12.59%12.72%15.47%15.26%16.14%17.38%
Public4.18%4.22%4.12%3.98%4.07%4.06%3.99%3.74%3.84%3.64%3.64%3.64%
No. of Shareholders69,52368,84776,90274,05187,74889,28888,53185,49886,58975,77973,87673,390

Fundamentals

Market Cap₹ 68,996 Cr.
Current Price₹ 1,929
Stock P/E53.2
Book Value₹ 307
ROCE12.4 %
ROE11.0 %
Dividend Yield0.13 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)18%
Compounded Profit Growth (TTM)32%
Consolidated figures.
Valuation
Market capRs 69,023 Cr
Enterprise valueRs 73,523 Cr
P/E (TTM)53.92x
Price to book6.28x
Price to sales15.19x
EV / EBITDA25.66x
EV / EBIT29.38x
EV / sales16.18x
Price to cash flow28.46x
Earnings yield1.85%
Dividend yield0.13%
P/E, 3-year average42.11x
P/B, 3-year average4.38x
P/E, 5-year average35.28x
P/B, 5-year average3.21x
Profitability
Operating margin (excl. other income)59.72%
Operating margin (incl. other income)62.90%
EBITDA margin63.04%
Pre-tax margin46.58%
Net profit margin28.16%
Net margin, latest quarter27.62%
ROE11.42%
ROCE15.38%
ROA5.53%
ROE, 3-year average11.21%
ROCE, 3-year average14.77%
ROA, 3-year average5.47%
ROE, 5-year average11.11%
ROCE, 5-year average13.60%
ROA, 5-year average5.33%
ROIC (approx.)12.38%
Tax rate23.38%
Other income / net worth1.28%
Growth
Sales growth (latest year)16.06%
Profit growth (latest year)24.34%
Sales CAGR, 3 years19.09%
Sales CAGR, 5 years33.56%
Profit CAGR, 3 years-2.86%
Profit CAGR, 5 years84.25%
Sales growth QoQ-12.83%
Profit growth QoQ-26.40%
Sales growth YoY (latest quarter)12.80%
Profit growth YoY (latest quarter)23.34%
Per share
EPS (TTM)Rs 35.79
EPS (latest year)Rs 34.22
EPS (latest quarter)Rs 8.30
EPS, 3-year averageRs 41.09
EPS, 5-year averageRs 42.26
Book value per shareRs 307.26
Sales per shareRs 127.08
Cash flow per shareRs 67.83
Free cash flow per shareRs 28.77
Dividend per share (latest year)Rs 2.50
Dividend per share, 3-year averageRs 3.33
Dividend per share, 5-year averageRs 3.48
Dividends
Dividend payout7.31%
Dividend payout, 3-year average8.17%
Dividend payout, 5-year average9.85%
Efficiency
Asset turnover0.19x
Fixed asset turnover0.30x
Inventory turnover1.12x
Inventory days327 days
Debtor days26 days
Debtors turnover13.95x
Creditor days224 days
Cash conversion cycle26 days
Working capital days-94 days
Leverage
Total debtRs 5,323 Cr
Cash and bankRs 823 Cr
Net debtRs 4,500 Cr
Debt to equity0.48x
Net debt / EBITDA1.57x
Interest coverage6.49x
Current ratio (filing 2026-03-31)1.29x
Quick ratio (filing 2026-03-31)0.97x
Trade payables (filing 2026-03-31)Rs 212 Cr
Owners' fund to total sources48.20%
Debt to assets23.35%
Cash flow
Cash from Operating Activity (latest year)Rs 2,426 Cr
Cash from Investing Activity (latest year)Rs -1,646 Cr
Cash from Financing Activity (latest year)Rs -731 Cr
Net Cash Flow (latest year)Rs 50 Cr
Free cash flow (latest year)Rs 1,029 Cr
FCFE (approx.: FCF + change in debt)Rs 1,665 Cr
Cash from ops / profit, 5 years1.48x
Sales to cash flow1.82x
Statement figures
Net sales (TTM)Rs 4,545 Cr
Net sales (latest year)Rs 4,418 Cr
Sales (latest quarter)Rs 1,075 Cr
Operating profit excl. other income (latest year)Rs 2,638 Cr
Operating profit (latest quarter)Rs 642 Cr
Other income (TTM)Rs 150 Cr
EBITDA (TTM)Rs 2,865 Cr
PBDT (TTM)Rs 2,479 Cr
Profit before tax (TTM)Rs 2,117 Cr
Tax (latest year)Rs 475 Cr
Net profit (TTM)Rs 1,280 Cr
Net profit (latest year)Rs 1,224 Cr
Net profit (latest quarter)Rs 297 Cr
Depreciation (TTM)Rs 362 Cr
Depreciation (latest quarter)Rs 96 Cr
Interest (TTM)Rs 386 Cr
Cost of goods sold (latest year)Rs 867 Cr
Total expenditure (latest year)Rs 1,780 Cr
Total income (latest year)Rs 4,559 Cr
Share capitalRs 72 Cr
ReservesRs 10,917 Cr
Shareholders' fundsRs 10,989 Cr
Total assetsRs 22,796 Cr
Net blockRs 14,772 Cr
Capital work in progressRs 3,879 Cr
InvestmentsRs 1,490 Cr
ReceivablesRs 317 Cr
InventoryRs 776 Cr
Other liabilitiesRs 6,485 Cr
Shares outstanding (crore)35.76
Ownership
Promoter holding47.25% (-0.01 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 53.9 is at the 53th percentile of its own 9.4-year range (median 53.3, low 20.9, high 362.1).
P/B 6.28 is at the 90th percentile (median 3.94).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPHOENIXLTDNifty 50Difference
1 week-1.3%-2.8% +1.5 pts
1 month+2.0%-6.8% +8.8 pts
3 months-5.7%-7.6% +1.9 pts
6 months+28.1%+0.4% +27.7 pts
1 year+23.5%-9.9% +33.4 pts
2 years+7.0%-13.6% +20.5 pts
3 years+112.7%+14.2% +98.6 pts
5 years+301.4%+27.9% +273.5 pts
240 mutual fund schemes hold about ₹10,909 Cr. Over three months 42 bought more and 88 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Axis Midcap Fund2.13%733 +10%
ICICI Pru Focused Fund2.93%526 -25%
DSP Midcap Fund2.48%522 -1%
SBI Midcap Fund1.55%380 +2%
SBI Midcap Fund1.55%377 +2%
DSP Large & Mid Cap Fund1.87%344 +10%
ICICI Pru Balanced Advantage Fund(M0.45%342 -21%
Axis Small Cap Fund1.02%319 -3%
Axis ELSS-Tax Saver Fund0.96%314 +52%
Edelweiss Mid Cap Fund1.37%272 +21%
Sundaram Mid Cap Fund1.79%266 -2%
Sundaram Mid Cap Fund1.79%260 -2%
Invesco India Focused Fund3.73%241 +59%
Aditya Birla SL Focused Fund2.96%236 -12%
UTI Mid Cap Fund1.78%228 -10%
Mirae Asset Midcap Fund0.92%191 -3%
Axis Large & Mid Cap Fund1.08%188 -2%
Invesco India Midcap Fund1.15%183 -10%
Axis Large & Mid Cap Fund1.08%182 -2%
UTI Value Fund1.69%162 -6%
WOC Mid Cap Fund1.93%145 -36%
Invesco India Large & Mid Cap Fund1.19%139 -7%
Helios Flexi Cap Fund1.53%134 -10%
HDFC Value Fund1.49%124 -8%
Sundaram Large and Mid Cap Fund1.66%120 -4%

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2024-08-23Sharmila DalmiaPromoter Groupother33,899Rs 12.51 CrInter-se-Transfer
2024-08-23Atul RuiaPromotersother33,899Rs 12.51 CrInter-se-Transfer
2023-01-24Sharmila DalmiyaPromoter Groupother108,108Rs 15.13 CrInter-se-Transfer
2023-01-24Atul RuiaPromotersother108,108Rs 15.13 CrInter-se-Transfer
2021-08-17Rashmi SenEmployees/Designated Employesell4,000Rs 0.33 CrMarket Sale
2021-08-13Rajesh Ramesh KulkarniDirectorsell5,000Rs 0.44 CrMarket Sale
2021-08-04Varun ParwalEmployees/Designated Employeother500Rs 0.04 CrESOP
2021-08-04Rashmi SenEmployees/Designated Employeother2,500Rs 0.22 CrESOP
2021-07-26Haresh MorarjkarEmployees/Designated Employeother15,000Rs 1.28 CrPledge Creation
2021-07-23Amit KumarEmployees/Designated Employeother11,000Rs 0.97 CrPledge Creation
2021-07-23Rajendra KalkarDirectorother25,000Rs 2.20 CrPledge Creation
2021-07-02Rashmi SenEmployees/Designated Employeother4,000Rs 0.33 CrESOP
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,075 Cr +12.8% vs Jun 2025. Net profit ₹394 Cr +22.7%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
DLF Ltd161,63837.66.32 %
Lodha Developers Ltd110,59226.816.4 %
Oberoi Realty Ltd64,09924.217.3 %
Prestige Estates Projects Ltd61,05653.610.4 %
Godrej Properties Ltd49,23230.47.63 %
Anant Raj Ltd21,67537.512.1 %
Brigade Enterprises Ltd18,37027.010.5 %
Horizon Industrial Parks Ltd14,7093.18 %
Sobha Ltd13,00856.46.86 %
Aditya Birla Real Estate Ltd12,963-4.48 %
SignatureGlobal India Ltd10,6142.38 %
Sri Lotus Developers & Realty Ltd10,46640.721.2 %
Max Estates Ltd9,3121,5861.40 %
Embassy Developments Ltd7,833-2.44 %
Mahindra Lifespace Developers Ltd7,70324.87.64 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Rs 2.50 Per Share
2025-09-15Dividend - Rs 2.50 Per Share
2024-09-20Bonus 1:10.5000
2024-08-20Dividend - Rs 5 Per Share
2023-09-15Annual General Meeting/Dividend - Rs 5 Per Share
2022-09-12Annual General Meeting/Dividend - Rs 2.40 Per Share
2021-09-16 Annual General Meeting/Dividend - Re 1 Per Share
2020-09-17 Annual General Meeting
2019-09-17 Annual General Meeting/Dividend - Rs 3 Per Share
2018-09-11 Annual General Meeting/Dividend Rs 2.6 Per Share
2017-09-18 Annual General Meeting/Dividend - Rs 2.40 Per Share
2016-08-31 Annual General Meeting/Dividend - Re 0.45/- Per Share
2016-03-17 Interim Dividend - Rs 1.75/- Per Share
2015-09-02 Annual General Meeting/ Dividend - Rs 2.20 Per Share
2014-08-13Annual General Meeting / Dividend - Rs 2.20/- Per Share
2013-08-12Annual General Meeting / Dividend - Rs 2.20/- Per Share
2012-08-10Annual General Meeting And Dividend Rs.2/- Per Share
2011-09-09Annual General Meeting/Dividend Rs 1.80 Per Share
2010-09-17Annual General Meeting And Final Dividend Rs.1.20 Per Share
2009-09-11Agm/Div-Re.1/- Per Share
2008-09-12Agm/Dividend - 50%
2008-02-13Fv Split Rs.10/- To Rs.2/0.2000
2007-10-25Agm/Dividend-30%
DateTypeWhat it says
2026-09-28General UpdatesPresentation made to Shareholders at the 121st Annual General Meeting
2026-09-28Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-22Concall / analyst meetOutcome of Interaction with Analyst/Institutional Investor
2026-09-17Concall / analyst meetOutcome of Interaction with Analyst/Institutional Investor
2026-09-16Concall / analyst meetSchedule of meet
2026-09-11Concall / analyst meetSchedule of meet
2026-09-10Amalgamation/MergerEffective date of scheme of merger and amalgamation between subsidiary companies.
2026-09-08Concall / analyst meetOutcome of Interaction with Analyst/Institutional Investor
2026-09-07Concall / analyst meetOutcome of Interaction with Analyst/Institutional Investor
2026-09-05Amalgamation/MergerSanction of scheme of merger and amalgamation between subsidiary companies by National Company Law Tribunal, Chennai Bench.
2026-09-04General UpdatesLetter Providing The Web-Link Of The Integrated Annual Report Of The Company For The Financial Year 2025-26
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-09-02Concall / analyst meetOutcome of Interaction with Analyst/Institutional Investor
2026-09-02Concall / analyst meetSchedule of meet
2026-09-02Concall / analyst meetSchedule of meet
2026-09-02ESOPAllotment of 14139 Shares.
2026-09-02General UpdatesIntimation of Annual General Meeting
2026-09-02Record DateRecord date for the purpose of Dividend is 11-Sep-2026.
2026-09-01Concall / analyst meetOutcome of Interaction with Analyst/Institutional Investor
2026-09-01Credit RatingCredit Rating
2026-08-28Concall / analyst meetSchedule of meet
2026-08-26Concall / analyst meetSchedule of meet
2026-08-19AcquisitionUpdates on disclosure dated July 29, 2026, relating to Acquisition
2026-08-17Concall / analyst meetOutcome of Interaction with Analyst/Institutional Investor
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.92
Max pain (expiry 2026-10-27)1,940
Largest call open interest at2,000
Largest put open interest at1,940
Implied volatility, at the money27.9%
Underlying at snapshot1,930.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-28287
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Phoenix Mills Ltd?

Phoenix Mills Ltd (PHOENIXLTD) has a market capitalisation of Rs 68,996 Cr. at the 2026-10-01 close.

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

Phoenix Mills Ltd trades at a P/E of 53.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Phoenix Mills Ltd's latest quarterly results?

In the Jun 2026 quarter, Phoenix Mills Ltd sales was Rs 1,075 Cr (+12.8% vs Jun 2025) and net profit was Rs 394 Cr.

What is the 52-week high and low of Phoenix Mills Ltd?

The 52-week high is Rs 2,169.80 and the 52-week low is Rs 1,465.60.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03