NSE: PHOENXINTL · BSE: 526481
PHOENIX INTERNATIONAL LTD
Operates two distinct businesses — a lease-rentals segment that drives the bulk of profits, and a smaller shoe and footwear manufacturing operation. For FY26, total revenue from operations was Rs. 27.59 crore with a net profit of Rs. 2.50 crore. On a consolidated basis, the Rent segment brought in Rs. 2,139.61 lakh of revenue with EBIT of Rs. 1,234.83 lakh, while the Manufacturing segment generated Rs. 650.12 lakh but reported an EBIT loss of Rs. 148.01 lakh. The Manufacturing business runs through two subsidiaries — Phoenix Cement Limited and Phoenix Industries Limited — whose interim results were not separately audited. Cost structure is shaped by materials at 24.9% of revenue and depreciation at 13.1% of revenue, against total assets of Rs. 438.60 crore. Over FY26, long-term borrowings fell from Rs. 5,089.09 lakh to Rs. 3,493.83 lakh, with finance costs dropping from Rs. 660.39 lakh to Rs. 541.35 lakh. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Rent, Manufacturing. Asset-heavy company with a dominant lease-rentals arm and a smaller, loss-making shoe and footwear manufacturing unit
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 27 | 32 | 27 | 24 | 28 |
| EBITDA (ex other income) | 13 | 13 | 14 | 14 | 14 |
| margin % | 49.0 | 39.1 | 49.9 | 56.3 | 50.8 |
| Owners' profit | (0) | 2 | 0 | 0 | 3 |
| EPS, as reported (₹) | 1.03 | 1.27 | 1.36 | 0.90 | 1.44 |
| ROE % · ROCE % | 0.6 · 2.3 | 0.6 · 2.3 | 0.7 · 2.5 | 0.5 · 2.5 | 0.7 · 2.7 |
| Debt / equity (x) | 0.28 | 0.25 | 0.22 | 0.19 | 0.14 |
| Cash from operations | (5) | 18 | 22 | 19 | 19 |
| Capex | (0) | (0) | (0) | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 1 |
| Net profit | 1 | 1 | 1 | (0) | 1 | 2 | 0 | (0) |
| EPS (₹) | 0.42 | 0.34 | 0.44 | 0.20 | 0.44 | 1.21 | 0.12 | 0.34 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Segment A- Manufacturing | 5 | 16.5 |
| Segment B- Rent | 16 | 57.2 |
| a. Segment A- Manufacturing | 2 | 6.9 |
| b. Segment B- Rent | 5 | 19.4 |
| Total, before eliminations | 28 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 17,213 | 28.2 | 11.57 | 16.5 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 8,821 | 101.2 | 29.48 | 5.6 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,059 | 16.9 | 2.36 | 11.9 | 13.8 | 14.8 | 26.2 | 68.9 |
| NIRLON LTD | 5,677 | 16.4 | 12.12 | — | 73.8 | 18.1 | — | 79.4 |
| SMARTWORKS COWORKING SP L | 5,439 | 195.1 | 10.25 | 4.6 | 2.0 | 0.3 | — | 65.8 |
| QUESS CORP LIMITED | 4,838 | 19.1 | 4.14 | 14.5 | 19.0 | 14.4 | 7.1 | 2.6 |
| INOX GREEN ENERGY SER LTD | 4,250 | 34.0 | 2.48 | 25.3 | 6.0 | 9.0 | — | 131.6 |
| INDIQUBE SPACES LIMITED | 3,731 | — | 7.25 | — | (20.7) | (2.5) | — | 67.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.0 | 13.0 | 42 of 79 | 47% |
| P/B | 0.1 | 1.3 | 10 of 95 | 89% |
| ROCE | 1.3 | 3.4 | 60 of 103 | 42% |
| ROE | 0.7 | 2.9 | 72 of 113 | 37% |
| Debt / Equity | 0.1 | 0.1 | 56 of 91 | 39% |
| EBITDA margin | 43.1 | 25.4 | 36 of 92 | 62% |
| Revenue growth | 20.7 | 16.2 | 41 of 91 | 56% |
| Profit growth | (99.5) | 5.2 | 94 of 110 | 15% |
| Market cap | 53 | 47 | 52 of 108 | 52% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · RTA certifies timely share record updates for September 2026 quarter | compliance | minimal | — | — |
| 15 Oct 2026 · Company clarifies to BSE: share price movement is market-driven, no undisclosed info | regulatory legal | medium | — | — |
| 14 Oct 2026 · BSE seeks clarification on significant price movement | regulatory legal | medium | — | — |
| 30 Sept 2026 · Phoenix International 39th AGM: All 3 Resolutions Approved | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · Phoenix International 39th AGM held; key resolutions passed, results pending | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Trading Window Closes Oct 1, 2026 Ahead of Q2 Results | compliance | minimal | — | — |
| 7 Sept 2026 · Newspaper publication of 39th AGM Notice filed with BSE | compliance | minimal | — | — |
| 5 Sept 2026 · Phoenix International files FY26 Annual Report, AGM on September 30 | results | high | — | — |
| 5 Sept 2026 · 39th AGM notice for 30 Sep 2026; includes Rs 20 Cr related party deal approval | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Newspaper publication of 39th AGM notice on 4 September 2026 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.