Phoenix Mills share price today

Phoenix Mills Ltd's share price was ₹2,154.90 at the close on 6 November 2026. It has been rising for 24 weeks. That is 16.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,501 and ₹2,155, and at that close it was at the high of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Phoenix Mills Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 3 weeks in a row.

Over the last 11 years the share price moved +1,233% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: best operating margin in 16 quarters, foreign funds (FIIs) cut their stake for 3 quarters in a row and revenue up on a year earlier for 6 quarters in a row.

1. Best operating margin in 16 quarters

   Operating margin was 62% in the September 2026 quarter, against 60% a year earlier.

2. Foreign funds (FIIs) cut their stake for 3 quarters in a row

   From 33.9% to 31.6% of the company by the September 2026 quarter.

3. Revenue up on a year earlier for 6 quarters in a row

   In the September 2026 quarter revenue was ₹1,153 crore, +3.4% on a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), Phoenix Mills reported revenue of ₹1,153 crore, up 3.4% from ₹1,115 crore a year earlier, and a profit of ₹427 crore, up 11.2% from ₹384 crore.

Phoenix Mills results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Phoenix Mills' management discussed these results on a call held on 31 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Phoenix Mills closed at ₹2,154.90 on 6 November 2026, up 21.5% from ₹1,773.30 a year earlier (7 November 2025) and up 320.8% over five years. Its highest weekly close since March 2016 was ₹2,154.90 on 6 November 2026.

Phoenix Mills share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 11 March 2016 to 6 November 2026.

6 Nov 2026: Phoenix Mills closed at ₹2,154.90, up 10.1% on the week and up 18.9% on the month. 31 Oct 2026: Phoenix Mills held its results call for July to September 2026.

Earlier

• Results for July to September 2026: Revenue up 3.4% and profit up 11.2% on a year earlier.
• 11 Sep 2026: ex-date for a dividend of ₹2.50 a share.
• 20 Sep 2024: Bonus issue: 1 new share for every 1 held (ex-date).

Phoenix Mills paid ₹2.50 a share in regular dividends in the 12 months to 7 November 2026 (1 payment), a yield of 0.12% at the ₹2,154.90 close on 6 November 2026. The last was a dividend of ₹2.50 a share, ex-date 11 September 2026.

Phoenix Mills dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Phoenix Mills Ltd paid out 7% of its profit as dividends in FY26, and it paid a dividend in 12 of its last 13 reported years.

From the NSE corporate-actions record, read 7 November 2026.

On the call for July to September 2026, held on 31 October 2026, Phoenix Mills' management spoke about the quarter; the main points are below.

Source: the call transcript.

From the call for July to September 2026, 31 October 2026.

Remaining capital spending at 60% debt funding will push net debt/operating profit above current 1.3x during construction; if new malls open late, interest burden compresses free cash flow longer.

The main risks

• Capital spending leverage: ₹3,500-4,000 Cr remaining capital spending at 60% debt funding: Remaining capital spending at 60% debt funding will push net debt/operating profit above current 1.3x during construction; if new malls open late, interest burden compresses free cash flow longer. ✓ fact

Our read after the January to March 2026 results, written 14 June 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Phoenix Mills is on 3 of our India lists: Momentum stocks, Small & mid cap stocks and Real estate, REIT & cement.

Phoenix Mills Ltd earned ₹427 Cr of net profit in the Sep 2026 quarter, +11.2% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹1,557 Cr. Over 10 years profit has grown 33.9% a year on average. That is 37.0% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹384 Cr.

For the full year, FY26 profit was ₹1,557 Cr (+19.1% on the year before).

Why profit moved: revenue changed +3.4% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +19.3% and revenue +13.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Phoenix Mills Ltd reported ₹1,153 Cr of revenue in the Sep 2026 quarter, +3.4% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 9.6% a year on average. The last full year, FY26, came in at ₹4,418 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹4,582 Cr.

FY26 revenue was ₹4,418 Cr, +16.0% on the year before.

Recent pace: the last four quarters grew +13.2% on average, against 9.6% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +12.9%, against +5.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +18.9%, against +11.5% a year (accelerating).

Phoenix Mills Ltd's operating margin was 62.0% in the Sep 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 45.0% and 60.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Four malls (Mall of Millennium, Mall of Asia, Kolkata Grand Victoria, Indore) represent Rs 3,500-4,000 Cr of active capex planned to convert to recurring rental EBITDA by FY27. Mall of Asia Q3 FY26 consumption grew 112% YoY to Rs 732 Cr with occupancy at 88% aiming for 94-95%. Incremental EBITDA contribution from stabilised new malls is the single largest PAT driver over the 12-18 month horizon.

Why the margin moved: operating margin changed +1.8 percentage points on the year while gross margin changed +2.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold.

Over the last 3 years, 159% of Phoenix Mills Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,426 Cr of operating cash against ₹1,557 Cr of profit. After ₹1,402 Cr of spending on assets, ₹1,024 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 159% of profit came in as cash: the cash cycle got 88 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 6.6× depreciation over three years. The next section checks what that spending is building.

Phoenix Mills Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 26 days in FY26, down from 114 days in FY21. It spent ₹6,349 Cr on assets over the last 3 years. Customers take 26 days to pay, and stock sits for 973 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹4,418 Cr, each day of that cycle ties up about ₹12.1 Cr, so roughly ₹315 Cr is tied up in the business at any time.

FY26: customers took 26 days to pay and stock sat for 973 days, about 32.0 months of sales sitting as stock, for a full cycle of 26 days, shorter than FY21's 114.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 973 days. Customers pay about 26 days after that. Suppliers are paid at 265 days. Together that makes the 26-day cycle.

Spending on assets: ₹6,349 Cr over the last 3 years, against ₹957 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹3,879 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Phoenix Mills Ltd's P/E is 58.7×, near the high end of its own history: higher than 83% of past readings. Its usual P/E (the middle reading) is 50.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.