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Phoenix Mills Ltd

NSE: PHOENIXLTD BSE: 503100

1745.30

(1.36%)

Sun, 24 May 2026, 01:51 am

Phoenix Mills Analysis

dividend

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Pros

  • Dividends per share have increased over the past 10 years.
  • Dividends paid are thoroughly covered by earnings (11.2x coverage).
  • Dividends after 3 years are expected to be thoroughly covered by earnings (10.7x coverage).
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Cons

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Phoenix Mills's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.76%).
  • Phoenix Mills's dividend is below the markets top 25% of dividend payers in India (3.08%).

future

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Pros

  • Cash flow for Phoenix Mills is expected to increase by more than 50% in 2 years time.
  • Performance (ROE) is expected to be above the current IN Real Estate industry average.
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Cons

  • Phoenix Mills's earnings are expected to grow by 1.2% yearly, however this is not considered high growth (20% yearly).
  • Phoenix Mills's earnings growth is positive but not above the India market average.
  • Phoenix Mills's earnings growth is positive but not above the low risk savings rate of 7.2%.
  • Phoenix Mills's earnings are expected to decrease over the next year.
  • Phoenix Mills's earnings are expected to decrease over the next 3 years.
  • Phoenix Mills's net income is expected to decrease over the next 2 years.
  • Phoenix Mills is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
  • A decline in Phoenix Mills's performance (ROE) is expected over the next 3 years.
  • Phoenix Mills's revenue is expected to decrease over the next 2 years.
  • Phoenix Mills's revenue is expected to grow by 6.5% yearly, however this is not considered high growth (20% yearly).
  • Phoenix Mills's revenue growth is positive but not above the India market average.

health

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Pros

  • Phoenix Mills is profitable, therefore cash runway is not a concern.
  • Phoenix Mills is profitable, therefore cash runway is not a concern.
  • The level of debt compared to net worth has been reduced over the past 5 years (121.5% vs 83.5% today).
  • Interest payments on debt are well covered by earnings (EBIT is 3.2x coverage).
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Cons

  • Phoenix Mills's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Debt is not well covered by operating cash flow (5.1%, less than 20% of total debt).
  • Debt is not covered by short term assets, assets are 0.4x debt.
  • Phoenix Mills's long term commitments exceed its cash and other short term assets.
  • Phoenix Mills's level of debt (83.5%) compared to net worth is high (greater than 40%).
  • High level of physical assets or inventory.

management

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Pros

  • The tenure for the Phoenix Mills board of directors is about average.
  • Shishir's remuneration is lower than average for companies of similar size in India.
  • Shishir's compensation has been consistent with company performance over the past year, both up more than 20%.
  • The average tenure for the Phoenix Mills management team is over 5 years, this suggests they are a seasoned and experienced team.
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Cons

  • Phoenix Mills individual insiders have only sold shares in the past 3 months.

misc

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Pros

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    Cons

    • Phoenix Mills has significant price volatility in the past 3 months.

    past

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    Pros

    • Phoenix Mills's 1-year earnings growth exceeds its 5-year average (81.1% vs 45.6%)
    • Phoenix Mills has delivered over 20% year on year earnings growth in the past 5 years.
    • Phoenix Mills used its assets more efficiently than the IN Real Estate industry average last year based on Return on Assets.
    • Phoenix Mills has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
    • Phoenix Mills's earnings growth has exceeded the IN Real Estate industry average in the past year (81.1% vs 9.7%).
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    Cons

    • Phoenix Mills has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).

    value

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    Pros

    • 503100 outperformed the Real Estate industry which returned -24.3% over the past year.
    • 503100 outperformed the Market in India which returned -14.5% over the past year.
    • BSE:503100 is up 12% outperforming the market in India which returned 8% over the past month.
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    Cons

    • Phoenix Mills's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).
    • Phoenix Mills's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).
    • Phoenix Mills is overvalued based on assets compared to the IN Real Estate industry average.
    • Phoenix Mills is poor value based on expected growth next year.
    • Phoenix Mills is overvalued based on earnings compared to the IN Real Estate industry average.
    • Phoenix Mills is overvalued based on earnings compared to the India market.
    • BSE:503100 is up 12% underperforming the Real Estate industry which returned 13.9% over the past month.

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