Phoenix Mills (PHOENIXLTD)

FairStock Score: 58/100 — STEADY

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 1/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Phoenix Mills as a Graham-style value investor first: what am I getting for ₹1,890 per share? The Graham Number is only ₹447.70, so the margin of safety is -270.47%, and with P/B at 6.15 against book value of ₹307.31, I am paying a rich price for accounting net worth. On earnings, P/E is 51.54, while EV/EBITDA is 169.79, which tells me the market already expects a lot. The business does show momentum: sales growth of 17.14%, profit growth of 51.15%, latest quarterly sales of ₹1,121 Cr and net profit of ₹366 Cr. Five-year revenue CAGR of 14.48% is respectable, and promoter holding of 47.25% gives owners skin in the game. The balance sheet is not stretched by debt at D/E 0.37, and a Piotroski F-Score of 8/9 suggests improving fundamentals. But quality of returns is only moderate: ROE 10.43% and ROCE 10.75%, not the high teens or twenties I prefer for a durable moat. Free cash flow is negative at ₹-78 Cr, and dividend yield is just 0.13%, so shareholders depend on future growth rather than cash returns today. Altman Z-Score of 2.71 sits in a cautionary zone, while the 52-week range of ₹1,465.60–₹2,168.65 shows the market can swing widely. Phoenix may be a steady large-cap compounder in commercial/residential projects, but these numbers don't prove a wide moat; real estate is cyclical and capital-hungry. At this valuation, I would call it a Stalwart priced like a Fast Grower. I'd wait for either a much lower price or clear evidence that ROE, ROCE and free cash flow are improving.

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Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer