Phoenix International Limited (PHOENXINTL.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+188.7%

₹95.28

vs ₹33.00 price

Levered DCF

₹144.93

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	19.27×	41.28×	23.01×	33.16×	37.23×	88.42×	23.07×	23.32×
P/B	0.14×	0.19×	0.16×	0.21×	0.21×	0.21×	0.21×	0.22×
P/S	1.75×	2.71×	2×	2.2×	2.64×	2.95×	1.66×	1.68×
EV / EBITDA	6.52×	8.94×	9.08×	11.23×	11.76×	10.24×	5.59×	6.34×
Gross margin	50.3%	55.3%	69.7%	37.4%	64.1%	78.8%	32.0%	36.8%
Operating margin	37.7%	41.3%	62.1%	30.2%	36.3%	51.9%	26.3%	32.5%
Net margin	9.1%	6.5%	8.7%	6.7%	7.1%	3.4%	7.2%	7.2%
Current ratio	1.17×	1.52×	1.82×	1.82×	1.93×	1.82×	3.69×	3.37×
Debt / equity	0.14×	0.19×	0.23×	0.25×	0.28×	0.31×	0.24×	0.26×
Interest coverage	1.92×	1.5×	2.44×	1.41×	1.13×	1.17×	1.17×	1.37×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	6.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	526.7%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.7%	0.5%	0.7%	0.6%	0.6%	0.2%	0.9%	0.9%
Return on invested capital	1.2%	1.0%	2.7%	1.7%	2.2%	0.9%	1.8%	2.8%
Return on assets	0.6%	0.4%	0.5%	0.5%	0.4%	0.2%	0.7%	0.7%
Free cash flow yield	29.5%	20.2%	39.6%	25.7%	5.8%	22.0%	26.4%	29.3%
Earnings yield	5.2%	2.4%	4.3%	3.0%	2.7%	1.1%	4.3%	4.3%
Enterprise value	₹937M	₹1.2B	₹1.3B	₹1.5B	₹1.6B	₹1.7B	₹966.3M	₹1.1B
Net debt / EBITDA	3.17×	4.27×	5.16×	5.91×	6.58×	5.97×	1.47×	2.15×
Cash conversion cycle (days)	-130	-33	-95	37	-127	-659	38	-2