Phoenix Mills Ltd. (PHOENIXLTD) AI Stock Analysis

• Market Cap: ₹632.38B
• Dividend Yield: 0.14%
• Average Volume (3M): 16.97K
• Price to Earnings (P/E): 58.6
• Beta (1Y): 1.61
• Revenue Growth: -1.32%
• EPS Growth: -4.67%
• Country: IN
• Employees: 101
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Diversified
• EPS (TTM): 8.50
• Shares Outstanding: 357,592,320
• 10 Day Avg. Volume: 22,730
• 30 Day Avg. Volume: 16,973
• PEG Ratio: -5.67
• Price to Book (P/B): 5.48
• Price to Sales (P/S): 15.02
• P/FCF Ratio: -107.29
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,000.00
• Price Target Upside: 12.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: ₹1,869.00 ▲(5.47% Upside)

Phoenix Mills Ltd. demonstrates strong financial performance with solid revenue growth and profit margins, but recent volatility and high capital expenditures pose risks. The technical analysis shows a strong upward trend, though the stock is nearing overbought levels. Valuation metrics suggest the stock may be overvalued, with a high P/E ratio and low dividend yield.

Phoenix Mills Ltd. Business Overview & Revenue Model

Company Description

Phoenix Mills Ltd. is a leading Indian company specializing in the development and operation of retail-led mixed-use properties. The company is renowned for its expertise in creating large-scale retail destinations, including shopping malls, entertainment spaces, commercial centers, and mixed-use developments. With a focus on delivering top-tier shopping experiences, Phoenix Mills Ltd. operates some of the most iconic retail and commercial properties across India.

How the Company Makes Money

Phoenix Mills Ltd. primarily generates revenue through the leasing and management of retail and commercial spaces within its properties. The company earns rental income from leasing retail spaces to a diverse array of tenants, including international and domestic retail brands, food and beverage outlets, and entertainment providers. Additional revenue streams include income from property management services and parking facilities. Phoenix Mills Ltd. also benefits from strategic partnerships and collaborations with retailers and other stakeholders, which enhance the value and attractiveness of its properties, thereby driving occupancy rates and rental yields.

Phoenix Mills Ltd. Financial Statement Overview

Summary

Phoenix Mills Ltd. has shown strong revenue growth and robust profit margins, but recent volatility in revenue and net income is concerning. The balance sheet is stable with improving leverage ratios, though rising liabilities and debt are risks. Cash flow is strong, but high capital expenditures are impacting free cash flow.

Income Statement

Phoenix Mills Ltd. has demonstrated strong revenue growth over the years, with total revenue increasing from 2021 to 2024. The company has maintained a robust gross profit margin, averaging around 80-100%, indicating efficient cost management. However, recent declines in revenue from 2024 to 2025 and fluctuating net income suggest potential volatility. The high EBIT and EBITDA margins further highlight strong operational performance, although the dip in net profit margin in the latest period is a concern.

Balance Sheet

The balance sheet shows a stable equity position, with stockholders' equity increasing consistently over the years. The debt-to-equity ratio has improved, indicating better leverage management. While the equity ratio remains healthy, the increasing total liabilities, particularly debt levels, pose a risk. The company demonstrates a satisfactory return on equity, although recent net income fluctuations could impact future performance.

Cash Flow

Phoenix Mills Ltd. has shown strong operating cash flows, often exceeding net income, demonstrating good cash generation capabilities. However, recent negative free cash flow suggests high capital expenditures, which could pressure liquidity if not managed well. The decline in free cash flow growth from the previous year indicates potential cash flow constraints.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	38.62B	38.14B	39.78B	26.01B	14.83B	10.08B
Gross Profit	37.99B	35.95B	26.26B	19.34B	9.81B	8.90B
EBITDA	23.52B	23.25B	23.09B	22.41B	8.09B	5.87B
Net Income	9.92B	9.84B	10.99B	13.35B	2.37B	576.32M
Balance Sheet
Total Assets	0.00	215.31B	192.83B	175.89B	143.35B	114.55B
Cash, Cash Equivalents and Short-Term Investments	0.00	14.97B	20.81B	17.29B	24.33B	6.11B
Total Debt	0.00	46.87B	46.39B	42.59B	39.82B	40.63B
Total Liabilities	-138.53B	76.79B	68.96B	65.13B	53.23B	52.51B
Stockholders Equity	138.53B	104.48B	94.58B	83.80B	65.82B	48.85B
Cash Flow
Free Cash Flow	-2.84B	-5.34B	4.88B	-4.70B	7.42B	-3.08B
Operating Cash Flow	3.41B	20.84B	21.62B	13.56B	7.81B	4.37B
Investing Cash Flow	-4.49B	-21.62B	-18.59B	-15.36B	-28.41B	-9.55B
Financing Cash Flow	-3.19B	-472.72M	-2.99B	1.32B	22.28B	5.22B

Phoenix Mills Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1772.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PHOENIXLTD, the sentiment is Positive. The current price of 1772.15 is above the 20-day moving average (MA) of 1685.30, above the 50-day MA of 1613.35, and above the 200-day MA of 1576.81, indicating a bullish trend. The MACD of 41.97 indicates Negative momentum. The RSI at 68.29 is Neutral, neither overbought nor oversold. The STOCH value of 84.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PHOENIXLTD.

Phoenix Mills Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EMBASSY	76 Outperform	₹408.92B	25.54	―	5.34%	9.73%	-86.38%
MINDSPACE	74 Outperform	₹285.75B	55.65	―	0.00%	14.72%	-4.44%
OBEROIRLTY	68 Neutral	₹647.90B	29.01	―	0.45%	2.76%	-3.84%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PHOENIXLTD	64 Neutral	₹632.38B	58.64	―	0.14%	-1.32%	-4.67%
GODREJPROP	64 Neutral	₹690.49B	45.38	―	―	37.14%	3.92%
PRESTIGE	54 Neutral	₹751.75B	139.82	―	0.10%	-13.75%	-62.65%

Phoenix Mills Ltd. Corporate Events

Phoenix Mills Ltd. Concludes Earnings Call with Analysts

Phoenix Mills Ltd. concluded an earnings conference call with analysts and institutional investors, discussing its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025. The call, held in compliance with SEBI regulations, provided insights into the company’s financial performance and was supported by investor presentations available on their website.

Phoenix Mills Releases Earnings Call Recording for Stakeholder Transparency

Phoenix Mills Ltd. announced the availability of the audio recording of its recent earnings conference call, which discussed the company’s unaudited financial results for the quarter and half-year ending September 30, 2025. This move is part of the company’s compliance with SEBI regulations and aims to maintain transparency with its stakeholders.

Phoenix Mills Expands into Renewable Energy with Strategic Acquisition

Phoenix Mills Ltd. announced that its subsidiary, Pallazzio Hotels & Leisure Limited, has acquired a 45% equity stake in O2 Renewable Energy XXX Private Limited. This acquisition, involving equity shares and convertible debentures, is part of a strategic move to secure renewable energy for its operations, reflecting the company’s commitment to sustainable energy solutions and potentially enhancing its market position in the renewable energy sector.

Phoenix Mills Engages with Investors at Antique Conference

Phoenix Mills Ltd. participated in the Antique Investor Conference in Mumbai, engaging with institutional investors and analysts. The company provided updates on its business operations and industry trends, which could enhance its visibility and investor relations, potentially impacting its market positioning positively.

Phoenix Mills Ltd. to Engage with Investors at Upcoming Conference

Phoenix Mills Ltd. has announced its participation in the Antique Investor Conference, organized by Antique Stock Broking Limited, to be held on August 22, 2025, in Mumbai. This meeting, which will include one-on-one and group interactions, signifies the company’s ongoing efforts to engage with institutional investors, potentially impacting its market positioning and investor relations.