Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Phoenix Mills Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 729 | 811 | 875 | 986 | 1,306 | 904 | 918 | 975 | 1,016 | 953 | 1,115 | 1,121 | 1,233 |
| Expenses + | 298 | 318 | 369 | 434 | 679 | 373 | 400 | 422 | 457 | 389 | 449 | 465 | 484 |
| Operating Profit | 431 | 492 | 506 | 552 | 627 | 531 | 518 | 553 | 560 | 564 | 667 | 656 | 750 |
| OPM % | 59% | 61% | 58% | 56% | 48% | 59% | 56% | 57% | 55% | 59% | 60% | 59% | 61% |
| Other Income + | 74 | 29 | 32 | 34 | 37 | 38 | 37 | 46 | 42 | 32 | 31 | 22 | 57 |
| Interest | 97 | 96 | 96 | 104 | 100 | 103 | 103 | 103 | 94 | 95 | 92 | 102 | 97 |
| Depreciation | 65 | 63 | 66 | 66 | 76 | 77 | 78 | 81 | 90 | 93 | 91 | 86 | 89 |
| Profit before tax | 343 | 363 | 375 | 416 | 489 | 388 | 374 | 415 | 418 | 407 | 515 | 490 | 620 |
| Tax % | 14% | 20% | 19% | 17% | 20% | 19% | 22% | 15% | 17% | 21% | 26% | 25% | 22% |
| Net Profit + | 292 | 291 | 305 | 345 | 392 | 315 | 292 | 353 | 348 | 321 | 384 | 366 | 485 |
| EPS in Rs | 7.11 | 6.73 | 7.07 | 7.82 | 9.14 | 6.50 | 6.10 | 7.41 | 7.52 | 6.73 | 8.50 | 7.71 | 11.28 |
Financials of Phoenix Mills Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,639 | 1,769 | 1,817 | 1,614 | 1,977 | 1,936 | 1,040 | 1,460 | 2,616 | 3,972 | 3,807 | 4,423 |
| Expenses + | 877 | 978 | 961 | 830 | 975 | 963 | 539 | 725 | 1,096 | 1,790 | 1,645 | 1,786 |
| Operating Profit | 762 | 790 | 856 | 784 | 1,001 | 973 | 501 | 735 | 1,519 | 2,182 | 2,162 | 2,637 |
| OPM % | 47% | 45% | 47% | 49% | 51% | 50% | 48% | 50% | 58% | 55% | 57% | 60% |
| Other Income + | -63 | -11 | 39 | 50 | 125 | 60 | 86 | 74 | 721 | 126 | 163 | 142 |
| Interest | 396 | 443 | 424 | 349 | 351 | 348 | 348 | 295 | 341 | 396 | 403 | 387 |
| Depreciation | 168 | 177 | 195 | 198 | 204 | 208 | 209 | 186 | 228 | 270 | 327 | 360 |
| Profit before tax | 136 | 159 | 276 | 287 | 572 | 478 | 29 | 328 | 1,671 | 1,643 | 1,595 | 2,032 |
| Tax % | 36% | 48% | 31% | 26% | 19% | 26% | -16% | 24% | 12% | 19% | 18% | 23% |
| Net Profit + | 91 | 84 | 191 | 256 | 497 | 388 | 48 | 268 | 1,478 | 1,333 | 1,307 | 1,557 |
| EPS in Rs | 1.22 | 4.21 | 5.49 | 7.91 | 13.73 | 10.91 | 1.68 | 6.65 | 37.37 | 30.76 | 27.53 | 34.22 |
| Dividend Payout % | 90% | 26% | 22% | 16% | 11% | 0% | 31% | 18% | 7% | 8% | 9% | 7% |
Financials of Phoenix Mills Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 29 | 31 | 31 | 31 | 31 | 31 | 36 | 36 | 36 | 36 | 72 | 72 |
| Reserves | 1,645 | 1,997 | 2,119 | 2,821 | 3,443 | 3,678 | 5,003 | 6,547 | 8,344 | 9,422 | 10,377 | 10,917 |
| Borrowings + | 3,402 | 3,889 | 3,626 | 3,666 | 4,244 | 4,308 | 4,063 | 3,982 | 4,259 | 4,639 | 4,687 | 5,323 |
| Other Liabilities + | 1,565 | 1,507 | 1,233 | 1,979 | 2,398 | 2,528 | 2,288 | 3,765 | 4,787 | 5,003 | 6,292 | 6,541 |
| Total Liabilities | 6,641 | 7,424 | 7,008 | 8,497 | 10,116 | 10,545 | 11,389 | 14,330 | 17,426 | 19,100 | 21,427 | 22,853 |
| Fixed Assets + | 4,130 | 4,548 | 4,500 | 5,668 | 6,522 | 6,453 | 7,207 | 7,508 | 10,964 | 13,137 | 14,466 | 14,772 |
| CWIP | 214 | 195 | 328 | 503 | 896 | 1,534 | 1,274 | 2,049 | 2,295 | 1,503 | 3,143 | 3,879 |
| Investments | 200 | 161 | 410 | 829 | 745 | 590 | 576 | 2,317 | 1,282 | 1,725 | 1,465 | 1,490 |
| Other Assets + | 2,097 | 2,520 | 1,770 | 1,498 | 1,952 | 1,968 | 2,333 | 2,456 | 2,884 | 2,734 | 2,353 | 2,712 |
| Total Assets | 6,641 | 7,424 | 7,008 | 8,497 | 10,116 | 10,545 | 11,389 | 14,330 | 17,426 | 19,100 | 21,427 | 22,853 |
Financials of Phoenix Mills Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 564 | 497 | 1,419 | 1,514 | 350 | 739 | 432 | 781 | 1,356 | 2,161 | 2,084 | 2,426 |
| Cash from Investing Activity + | -102 | -377 | -354 | -1,825 | -1,394 | -362 | -950 | -2,841 | -1,528 | -1,859 | -2,162 | -1,646 |
| Cash from Financing Activity + | -455 | -71 | -1,108 | 277 | 1,053 | -287 | 522 | 2,228 | 132 | -299 | -47 | -731 |
| Net Cash Flow | 7 | 50 | -43 | -33 | 9 | 90 | 3 | 167 | -40 | 3 | -126 | 50 |
| Free Cash Flow | 456 | 112 | 1,234 | 13 | -1,110 | -3 | 309 | -447 | -468 | 488 | -532 | 1,029 |
| CFO/OP | 86% | 80% | 171% | 196% | 43% | 87% | 84% | 114% | 103% | 114% | 110% | 104% |
Financials of Phoenix Mills Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 49 | 57 | 30 | 29 | 36 | 38 | 114 | 70 | 33 | 25 | 22 | 26 |
| Inventory Days | 854 | 973 | ||||||||||
| Days Payable | 224 | 265 | ||||||||||
| Cash Conversion Cycle | 49 | 57 | 30 | 29 | 36 | 38 | 114 | 70 | 33 | 654 | 22 | 734 |
| Working Capital Days | 91 | 134 | 40 | -150 | -77 | -94 | -212 | -160 | -111 | -78 | -112 | -11 |
| ROCE % | 11% | 11% | 11% | 10% | 11% | 9% | 4% | 5% | 10% | 12% | 11% | 13% |