The Phoenix Mills Ltd Stock Analysis

BSE: 503100 | NSE: PHOENIXLTD | Construction - Real Estate | Large Cap

BSE Share Price 23-Sep-2022 18:01
1393.40 -36.55 (-2.56%)

DeciZen - Make an Informed Decision on Phoenix Mills

Overall Rating

1. Quality

2. Valuation

Overvalued

3. Price Trend

Phoenix Mills Price Chart

P/E Ratio (CD) :
25.28
Market Cap :
24,881 Cr.
52-wk low :
884.3
52-wk high :
1,469
Bole Toh?

1. Is The Phoenix Mills Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that The Phoenix Mills Ltd is a below average quality company.

2. Is The Phoenix Mills Ltd undervalued or overvalued?

The key valuation ratios of The Phoenix Mills Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is The Phoenix Mills Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of The Phoenix Mills Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Phoenix Mills:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
The Phoenix Mills Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 4.5%7%5.3%7.2%7.5%7.2%7.8%6.3%3%3.7%-
Value Creation Index -0.7-0.5-0.6-0.5-0.4-0.5-0.4-0.5-0.8-0.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 4701,4491,6531,7801,8251,6201,9821,9411,0451,4831,866
YoY Gr. Rt. %-208.3%14.1%7.6%2.5%-11.2%22.3%-2%-46.2%42%-
Adj EPS 5.782.18.311.114.624.721.32.612.455
YoY Gr. Rt. %-40.4%-73.1%287.9%33.7%31.8%68.5%-13.6%-88%386.7%-
BVPS (₹) 121.4118.3114.6132.5140.2185.6225.7240.6292.1367.6409.2
Adj Net Profit 82.11153112717022437832743.9222982
Cash Flow from Ops. 23.63775644971,4191,514350739432781-
Debt/CF from Ops. 92.9967.82.62.412.15.89.45.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 13.6%-4.1%-9.2%42%
Adj EPS 9.1%2.3%-20.5%386.7%
BVPS 13.121.317.725.8
Share Price 21.9% 23.4% 25.1% 47.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 4.76.61.86.98.19129.113.814.2
Op. Profit Mgn % 56.346.946.144.446.948.550.650.247.949.652.6
Net Profit Mgn % 16.911.854.510.511.921.117.91.915.752.6
Debt to Equity 1.322.11.91.71.31.21.20.80.6-
Working Cap Days 9104064124253813252713196054230
Cash Conv. Cycle 3202202472632321761271483042020

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 14.20%

Debt to equity has declined versus last 3 years average to 0.61

Sales growth is good in last 4 quarters at 80.59%

Sales growth has been subdued in last 3 years -9.20%

Net Profit has been subdued in last 3 years -20.45%

Latest Financials - The Phoenix Mills Ltd.

Standalone Consolidated
TTM EPS (₹) 12.2 55
TTM Sales (₹ Cr.) 361 1,866
BVPS (₹.) 261.2 409.2
Reserves (₹ Cr.) 4,629 7,271
P/BV 5.33 3.40
PE 113.90 25.28
From the Market
52 Week Low / High (₹) 884.30 / 1468.95
All Time Low / High (₹) 0.51 / 1468.95
Market Cap (₹ Cr.) 24,881
Equity (₹ Cr.) 35.7
Face Value (₹) 2
Industry PE 41.6

Management X-Ray of Phoenix Mills :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Phoenix Mills

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About The Phoenix Mills Ltd

Incorporated in 1905, Phoenix Mills Ltd started as textile manufacturing company. It is engaged in property development business. The company has carved a niche for itself in the Indian real estate sector, be it mega retail malls, entertainment complexes, commercial spaces or hospitality units. The Company is a public limited company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. Its operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance & sales. The group has real estate assets in Mumbai, Bengaluru, Chennai, Pune, Raipur, Agra, Indore, Lucknow, Bareilly & Ahmedabad and many other cites.

Business area of the company

Phoenix Mills is engaged in the development and leasing of commercial and retail space.

Business

  • Retail
  • Commercial
  • Hospitality
  • Residential

Awards

2018

  • Most admired shopping centre of the year - National
  • Shopping centre of the year Luxury
  • Shopping centre of the year Luxury West
  • Best Digital Marketing Campaign of the year - HSPWISHCIRCLE (Palladium)
  • Best Customer experience - shopping mall- Phoenix MarketCity, Mumbai
  • Best digital marketing campaign - HAUTESPRING
  • Shopping centre of the year west- Phoenix MarketCity, Mumbai
  • Popular Shopping Mall- Phoenix MarketCity, Mumbai
  • Popular F&B Destination of the City - Dublin Square- Phoenix MarketCity, Mumbai
  • Developer Website India- Residential Kessaku

2019

  • For Brand excellence in Retail & Real Estate Sector
  • Brand Excellence Awards
  • Best festive décor
  • Best Retail Estate Developer Shopping Malls (HSP and Palladium)- Phoenix Market City, Bangalore
  • Best Thematic Decoration Tallest Christmas Tree in the Country A Times Network 2018- The Time Trailblazers Award
  • Excellence and Leadership in Branding & Marketing Market Leadership Award
  • Most Luxurious Shopping Destination of the year (Palladium)- Phoenix MarketCity and Palladium Chennai
  • Best Shopping Mall (PMC Chennai)
  • Shopping Centre (Luxury) (Palladium Chennai)
  • Bengaluru Brand Summit & HOT Brands 2019- Residential Kessaku

2020

  • Most admired shopping centre of the year - marketing and consumer promotions
  • Shopping centre of the year
  • Most admired shopping centre of the year - Retailers Choice (Palladium)
  • Shopping centre of the year Luxury West (Palladium)
  • Best Retail Estate Developer Shopping Malls (HSP and Palladium)
  • Best IP of the year - Phoenix Festival Season 2
  • Most Admired Marketing Campaign of the Year - Holiday Land Most admired shopping centre of the year- Phoenix Market City, Bangalore

Milestones

  • 1905- The Phoenix Mills Limited commences operations as a textile manufacturing company on 17.3 acres land at Lower Parel in Mumbai, with the objective of manufacturing cotton textile goods.
  • 1959- The Phoenix Mills Limited, owned by the Ruia family, was listed on the Bombay Stock Exchange.
  • 1986- Made operational Phoenix House commercial centre.
  • 1987- The company entered into the growing real estate market where High Street Phoenix emerged as the most frequented destination in Mumbai.
  • 1996- Opened doors to The Bowling Co., India’s first bowling company with the largest 20-lane bowling concourse and gaming arcade, sports bar and night-club Fire & Ice, to add the crucial element of entertainment to the burgeoning HSP Complex.
  • 2001- Introduced India ‘s first hyper market concept with the launch of Big Bazaar’s first store at the High Street Phoenix, Mumbai, along with Food Bazaar. With this, HSP gradually emerged as a model for India in terms of retail-led development centres.
  • 2003- Launched Pantaloons and Lifestyle departmental stores within the HSP Complex, each covering approximately 50,000 sq. ft. of retail shopping.
  • 2004- The High Street Phoenix Complex announced the launch of a multi-levelled SkyZone with anchor stores of leading national and international brand retail outlets.
  • 2005- The Phoenix Group celebrated its centenary, 100 years of commencing operations as a textile mill in 1905. With a heritage lasting over 10 decades, the group is proudly credited with having catalysed a wave of shopping revolution in India.
  • 2006- Announced the launch of Palladium Hotel, a five-star luxury hotel, with a first-of-its-kind sky lobby. Set up a 7-screen multiplex within the HSP Complex at Lower Parel.
  • 2007- Announced development of four Phoenix Marketcity Malls in Pune, Bengaluru, Mumbai and Chennai.
  • 2009- Launched Palladium Mall, an architecturally designed first-of-its-kind super luxury premium and iconic mall in High Street Phoenix Complex, housing super luxury national and international brands. Launched East Court within the Phoenix Marketcity ecosystem in Pune, housing a blend of retail and commercial spaces.
  • 2011- Launched Phoenix MarketCity at Pune, located in close proximity to the emerging upper middle-income group residential areas. Launched Phoenix MarketCity at Whitefield, Bengaluru’s IT hub, and Phoenix Marketcity in Kurla, a mixed-use development asset in the eastern suburb of Mumbai, with over 300 national and international brands.
  • 2012- Launched Palladium Hotel, a five-star luxury hotel, nestled above the premium Palladium Mall within the High Street Phoenix Complex. Launched One Bangalore West at Bengaluru, with 30-storey high-rise towers combining luxury and comfort. Launched Art Guild House and Phoenix Paragon Plaza, state-of-the-art commercial complexes within Phoenix Marketcity, Mumbai.
  • 2013- Launched Phoenix Marketcity Mall at Velachery, Chennai, a mixed use asset with 300-plus stores and four-and-a-half levels of shopping area, marking the convergence of shopping, dining, entertainment, art, architecture and design.
  • 2014- HSP Complex clocked an average ticket size per customer of ` 700, as total footfalls jumped to 19.5 million. The monthly average footfall jumped to over 1.6 million vis-à-vis 1.4 million in the previous year.
  • 2015- Launched Courtyard by Marriott at Agra; exclusive luxury residential project at Bengaluru and operationalised 5 in-house F&B outlets at some of its retail assets.
  • 2016- The St. Regis, Mumbai, the premiere most brand in Starwood Hotels portfolio begins operations from Sept’15. PML raised Rs 2,830 mn via Qualified Institutional Placement (QIP) in July 2015.
  • 2017- Partnered with CPPIB to develop, own and operate retail-led mixed-use developments across India through its 100% subsidiary that houses Phoenix MarketCity, Bengaluru (ISMDPL). CPPIB to invest over Rs 16 Billion in ISMDPL.
  • 2018- Acquired two brownfield and three greenfield land parcels with estimated Retail GLA of 4.9 Msft and additional development potential of 2.8 Msft.
  • 2019- Growth of retail profile from 6.9 msf to 12 msf
  • 2020- Phoenix Palassio, Lucknow became operational in record time of 24 months from the acquisition date with Retail GLA of 0.9 msft.
  • 2020- Successfully raised Rs 11,000 mn of equity capital by the way of QIP from marquee investors
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