PHOENIXLTD.NS The Phoenix Mills Limited
INR·Price 1856.70·Mkt cap 664.03BComputed from the latest reported financials and the current market price.
Who's the real player?
Partly exposed — some of its business rides this theme, the rest is elsewhere.
Is the business healthy?
A mixed picture — real strengths, but soft spots in cash flow, returns or debt.
- ⚠Receivables growing much faster than revenue (channel-stuffing risk)
- High cash flow quality
- Strong FCF conversion
- Low accrual ratio
- Good operating and gross margins
Are the smart people buying?
No ownership-change data for this stock. Conviction is judged from capex and buyback signals alone.
- Insider net buys
- High promoter/insider ownership
- Institutional ownership
What is management saying?
No earnings-call transcript or filings found for this stock.
Is the price right?
Intrinsic value 251.75 vs price 1856.70 — screens expensive on a cash-flow DCF (-86.4% to intrinsic). The base FCF growth assumption of 8% is plausible but depends on the company's ability to sustain such growth.
| Intrinsic / share | 251.75 |
| Price | 1856.70 |
| Upside to intrinsic | -86.4% |
| Reverse-DCF implied g | 30.5% |
Base FCF 7.58B · growth 8.0% · discount 12.0% · terminal 5.0%.
Sensitivity — intrinsic value / share
Each cell is the intrinsic value at that growth (across →) and discount rate (down ↓). Center ★ is the base case. Cells green = above price (cheap), red = below (expensive).
| Growth rate → | |||||
|---|---|---|---|---|---|
| Disc ↓ ╲ g | 4% | 6% | 8% | 10% | 12% |
| 10% | 268.01 | 337.46 | 418.64 | 513.35 | 623.63 |
| 11% | 200.37 | 256.15 | 321.17 | 396.84 | 484.76 |
| 12% | 152 | 198.13 | ★ 251.75 | 314 | 386.16 |
| 13% | 115.69 | 154.66 | 199.84 | 252.17 | 312.71 |
| 14% | 87.41 | 120.89 | 159.6 | 204.34 | 255.98 |
Through the masters' eyes
Each investor's numeric rules, checked against this stock's metrics: exact math, no guesswork. Tap one to see which rules pass, fail, and what to judge yourself.
▶
Passes 2 of 3 of Rakesh Jhunjhunwala's numeric checks. Still judge the non-numeric criteria below for yourself.
- Net margin ≥ 10% — now 27.7%
- Conservative leverage (D/E ≤ 1.0) — now 0.48
- ROE ≥ 18% — now 11.1%
- A large, scalable opportunity
- Trustworthy, ambitious management
- Conviction to hold through volatility
Couldn't check from available data: Earnings growth ≥ 15% — not available
▶
Passes 3 of 5 of Warren Buffett's numeric checks. Still judge the non-numeric criteria below for yourself.
- Net margin ≥ 10% — now 27.7%
- Positive free cash flow — now 23.3%
- Conservative leverage (D/E ≤ 1.0) — now 0.48
- ROE ≥ 15% — now 11.1%
- Trades below intrinsic value (margin of safety ≥ 0) — now -637.5%
- A business you can understand
- A durable competitive moat
- Honest, capable management
▶
Passes 1 of 2 of Peter Lynch's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.48
- Solid liquidity (current ratio ≥ 1.5) — now 1.29
- A simple business you understand
- Which 'type' it is (fast grower, stalwart, cyclical…)
- A believable growth story
Couldn't check from available data: PEG ≤ 1 (growth cheap vs price) — not available; Earnings growth ≥ 15% — not available
▶
Passes 2 of 4 of Radhakishan Damani's numeric checks. Still judge the non-numeric criteria below for yourself.
- Very low debt (D/E ≤ 0.5) — now 0.48
- Positive net margin — now 27.7%
- High returns on capital (ROCE ≥ 18%) — now 11.1%
- Consistent revenue (consistency ≥ 80%) — now 78.4%
- A durable consumer franchise
- Pricing power
- A long runway, bought patiently
▶
Passes 1 of 2 of Raamdeo Agrawal's numeric checks. Still judge the non-numeric criteria below for yourself.
- Longevity: revenue consistency ≥ 70% — now 78.4%
- Quality: ROCE ≥ 18% — now 11.1%
- Durability of the growth (longevity)
- Quality and honesty of management
Couldn't check from available data: Growth: earnings CAGR ≥ 15% — not available; Price: PEG ≤ 2 — not available
▶
Passes 1 of 2 of Vijay Kedia's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.48
- ROE ≥ 15% — now 11.1%
- Ambitious, capable management
- A small company with a large opportunity
- Patience to hold for years
Couldn't check from available data: Strong earnings growth ≥ 20% — not available
▶
Passes 2 of 6 of Benjamin Graham's numeric checks. Still judge the non-numeric criteria below for yourself.
- Debt below equity (D/E ≤ 1.0) — now 0.48
- Financially safe (Altman Z ≥ 3) — now 6.45
- P/E ≤ 15 — now 55.07
- P/B ≤ 1.5 — now 6.13
- Graham number: P/E × P/B ≤ 22.5 — now 337.6
- Strong liquidity (current ratio ≥ 1.5) — now 1.29
- A long record of stable earnings
- An uninterrupted dividend history
▶
Passes 1 of 4 of Charlie Munger's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.48
- High returns on capital (ROCE ≥ 15%) — now 11.1%
- ROE ≥ 15% — now 11.1%
- Trades below intrinsic value (margin of safety ≥ 0) — now -637.5%
- A high-quality, understandable business
- A durable moat
- Management of integrity
Financial statements (INR)
↗ sourceCash-flow lines highlighted — we trust cash over reported profit.
| Line | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 44.23B | 38.14B | 38.99B | 26.01B | — |
| Operating income | 22.77B | 18.35B | 19.52B | 13.23B | — |
| EBITDA | 27.79B | 23.25B | 23.09B | 22.40B | — |
| Net income | 12.24B | 9.84B | 10.99B | 13.35B | — |
| Operating cash flow | 24.26B | 20.84B | 21.61B | 13.56B | — |
| Capex | -13.97B | -26.17B | -16.74B | -18.26B | — |
| Free cash flow | 10.29B | -5.34B | 4.87B | -4.70B | — |
| Total assets | 228.53B | 215.31B | 192.35B | 175.89B | — |
| Total equity | 109.89B | 104.48B | 94.58B | 83.80B | — |
| Total debt | 53.23B | 46.87B | 46.39B | 42.59B | — |
| Cash & equivalents | 1.81B | 2.23B | 4.54B | 2.64B | — |