Phoenix Mills Ltd

Phoenix Mills Ltd

₹ 2,783 2.01%
28 Mar - close price
About

Phoenix Mills Ltd is engaged in the operation & management of malls, construction of commercial & residential property and hotel business in India. India's leading retail mall developer and operator with approximately 0.64 million square meters of retail space spread across 9 malls in 6 gateway cities of India. It has developed over 2.11 million square meters

Key Points

Segment Wise Revenue in FY23[1]
Property & Related Services - 81%
Hospitality Services - 19%

  • Market Cap 49,797 Cr.
  • Current Price 2,783
  • High / Low 2,972 / 1,262
  • Stock P/E 50.3
  • Book Value 494
  • Dividend Yield 0.18 %
  • ROCE 9.94 %
  • ROE 11.4 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 29.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.6%
  • Debtor days have improved from 72.3 to 33.2 days.
  • Company's working capital requirements have reduced from 72.4 days to 31.6 days

Cons

  • Stock is trading at 5.63 times its book value
  • The company has delivered a poor sales growth of 10.1% over past five years.
  • Company has a low return on equity of 6.48% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Realty Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
328 386 204 364 425 495 574 651 684 729 811 875 986
169 212 128 177 195 254 251 270 299 298 318 369 434
Operating Profit 159 173 76 186 230 241 323 381 384 431 492 506 552
OPM % 48% 45% 37% 51% 54% 49% 56% 58% 56% 59% 61% 58% 56%
15 50 12 16 22 24 580 32 35 74 29 32 34
Interest 86 81 72 75 69 78 74 83 87 97 96 96 104
Depreciation 53 52 48 48 46 44 50 56 57 65 63 66 66
Profit before tax 35 90 -32 79 138 143 779 274 276 343 363 375 416
Tax % -71% 29% -8% 20% 26% 18% 4% 19% 23% 14% 20% 19% 17%
66 72 -33 65 114 122 752 222 211 292 291 305 345
EPS in Rs 3.97 3.81 -1.52 3.37 5.74 5.87 40.25 10.41 9.88 14.23 13.46 14.14 15.64
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
394 466 1,441 1,639 1,769 1,817 1,614 1,977 1,936 1,040 1,460 2,616 3,401
184 202 762 877 978 961 830 975 963 539 725 1,096 1,420
Operating Profit 210 263 679 762 790 856 784 1,001 973 501 735 1,520 1,981
OPM % 53% 57% 47% 47% 45% 47% 49% 51% 50% 48% 50% 58% 58%
46 51 47 -63 -11 39 50 125 60 86 74 721 169
Interest 95 143 345 396 443 424 349 351 348 348 295 342 393
Depreciation 56 47 105 168 177 195 198 204 208 209 186 228 259
Profit before tax 105 124 275 136 159 276 287 572 478 29 328 1,671 1,497
Tax % 18% 34% 33% 36% 48% 31% 26% 19% 26% -16% 24% 12%
96 82 182 91 84 191 256 497 388 48 268 1,478 1,233
EPS in Rs 7.29 5.81 8.87 2.44 8.43 10.97 15.83 27.47 21.81 3.35 13.30 74.74 57.47
Dividend Payout % 27% 38% 25% 90% 26% 22% 16% 11% 0% 31% 18% 7%
Compounded Sales Growth
10 Years: 19%
5 Years: 10%
3 Years: 11%
TTM: 41%
Compounded Profit Growth
10 Years: 27%
5 Years: 30%
3 Years: 38%
TTM: 46%
Stock Price CAGR
10 Years: 27%
5 Years: 33%
3 Years: 53%
1 Year: 108%
Return on Equity
10 Years: 7%
5 Years: 8%
3 Years: 6%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 29 29 29 29 31 31 31 31 31 36 36 36 36
Reserves 1,682 1,740 1,695 1,645 1,997 2,119 2,821 3,443 3,678 5,003 6,547 8,344 8,795
1,668 2,196 3,406 3,402 3,889 3,626 3,666 4,244 4,308 4,063 3,982 4,259 4,505
734 1,046 1,630 1,565 1,507 1,233 1,979 2,398 2,528 2,288 3,765 4,787 5,328
Total Liabilities 4,113 5,011 6,760 6,641 7,424 7,008 8,497 10,116 10,545 11,389 14,330 17,426 18,664
1,188 2,784 4,170 4,130 4,548 4,500 5,668 6,522 6,453 7,207 7,508 10,964 11,807
CWIP 1,359 167 235 214 195 328 503 896 1,534 1,274 2,049 2,295 1,870
Investments 487 555 354 200 161 410 829 745 590 576 2,317 1,282 1,827
1,079 1,505 2,001 2,097 2,520 1,770 1,498 1,952 1,968 2,333 2,456 2,884 3,160
Total Assets 4,113 5,011 6,760 6,641 7,424 7,008 8,497 10,116 10,545 11,389 14,330 17,426 18,664

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
382 24 377 564 497 1,419 1,514 350 739 432 781 1,356
-848 -470 -1,246 -102 -377 -354 -1,825 -1,394 -362 -950 -2,841 -1,528
485 399 886 -455 -71 -1,108 277 1,053 -287 522 2,228 137
Net Cash Flow 19 -47 17 7 50 -43 -33 9 90 3 167 -35

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 57 66 50 49 57 30 29 36 38 114 70 33
Inventory Days 2,511
Days Payable 687
Cash Conversion Cycle 1,881 66 50 49 57 30 29 36 38 114 70 33
Working Capital Days -22 148 142 141 184 90 -93 25 34 135 50 32
ROCE % 6% 6% 12% 11% 11% 11% 10% 11% 9% 4% 5% 10%

Shareholding Pattern

Numbers in percentages

5 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
45.51% 45.50% 45.48% 45.43% 47.33% 47.32% 47.31% 47.31% 47.30% 47.29% 47.29% 47.28%
34.30% 34.43% 32.29% 31.60% 30.69% 31.60% 30.60% 29.27% 30.38% 28.56% 30.01% 30.80%
16.54% 16.21% 18.04% 18.61% 17.46% 16.68% 17.61% 19.02% 18.05% 19.93% 18.51% 17.70%
3.65% 3.85% 4.19% 4.35% 4.52% 4.40% 4.48% 4.40% 4.26% 4.22% 4.18% 4.22%
No. of Shareholders 22,77326,83433,11636,12939,28439,90642,82858,41460,95563,02469,52368,847

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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