Phoenix Mills cash flow

Latest FY26

Cash from operations: ₹2,426cr+16.4% on FY25
Capital spending: ₹1,397cr−46.6% on FY25
Free cash flow: ₹1,029cr−₹534 cr in FY25
Cash from financing: −₹731cr−₹47.3 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	360	327	270	228
	—	0.0	0.0	7.8	0.0
	—	387	403	357	0.0
	—	−43.0	−45.2	−50.0	0.0
	—	−0.8	−0.5	−0.5	0.0
	—	8.1	−0.6	−35.6	−23.7
	—	2.1	3.0	4.4	3.6
	—	0.2	−0.2	−0.3	0.5
	—	−54.0	−45.3	0.0	58.0
	—	−79.4	−73.9	0.0	237
	—	29.0	−12.7	−28.8	−605
	—	−2.5	7.8	338	−444
	—	−83.1	27.4	−31.8	0.0
	—	−17.1	55.8	−29.3	3.8
	—	−28.4	27.3	0.0	0.0
	—	8.4	−45.3	46.7	0.0
	—	292	−456	−28.9	436
	—	−79.7	602	0.0	0.0
	—	0.0	0.0	16.1	0.0
Cash from operating activities
	2,152	2,032	1,595	1,643	1,671
	—	699	773	836	−106
	—	2,731	2,368	2,479	1,565
	—	305	285	317	209
	—	2,426	2,084	2,162	1,356
Cash from investing activities
	—	1,397	2,617	1,674	1,826
	—	0.0	2.0	0.5	1.2
	—	0.6	0.0	0.0	0.0
	—	0.0	50.0	0.0	0.0
	—	8.4	0.0	0.0	0.0
	—	0.0	0.0	0.0	967
	—	0.0	41.9	0.0	0.0
	—	0.0	0.0	0.0	0.5
	—	0.0	0.0	12.9	0.0
	—	13.6	46.7	0.0	39.3
	—	0.8	0.5	0.5	1.8
	—	44.0	50.6	48.2	37.2
	—	−316	363	−222	1,178
	—	−1,646	−2,162	−1,859	−1,536
Cash from financing activities
	—	5.1	5.3	5.6	5.2
	—	208	225	0.0	763
	—	1,257	0.0	0.0	0.0
	—	2,093	450	1,050	1,982
	—	1,335	293	885	2,079
	—	7.1	0.0	0.0	0.0
	—	348	345	381	367
	—	89.4	89.5	89.6	43.1
	—	0.3	0.0	0.0	−125
	—	−731	−47.3	−299	137
	—	49.6	−126	3.4	−43.2
	—	49.6	−126	3.4	−43.2
	—	—	−27.1	99.5	265
Reference items
	2,758	2,637	2,161	2,177	1,519
	60.2%	59.6%	56.7%	54.7%	57.6%
	1,029	1,029	−534	488	−470
	—	1,314	−828	460	—
	₹28.77	₹28.77	−₹14.92	₹13.65	−₹13.13
	68.47×	—	—	—	—
	—	1.56×	1.59×	1.62×	0.92×
	—	305	285	317	209
	—	348	345	381	367

Open the chart

From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

PHOENIXLTD₹1,969.90

Phoenix Mills Ltd.

· Real Estate

₹ CrorePeersDLF OBEROIRLTY LODHA PRESTIGE GODREJPROP ABREL ANANTRAJ BRIGADEMcap ₹70,450 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	227.8	270.2	326.5	360.3	—
+ Impairment Loss / (Reversal)	0.0	7.8	0.0	0.0	—
+ Finance Costs	0.0	357.1	403.2	386.8	—
+ Interest Income	0.0	-50.0	-45.2	-43.0	—
+ Dividend Income	0.0	-0.5	-0.5	-0.8	—
+ Fair Value (Gains) / Losses	-23.7	-35.6	-0.6	8.1	—
+ Share-based Payments	3.6	4.4	3.0	2.1	—
+ Unrealised FX (Gain) / Loss	0.5	-0.3	-0.2	0.2	—
+ Other Non-cash Items	58.0	0.0	-45.3	-54.0	—
+ Other — Cash Effects are Investing / Financing	236.8	0.0	-73.9	-79.4	—
+ Other Reconciling Items	-605.2	-28.8	-12.7	29.0	—
Changes in Working Capital
+ Inventories	-443.6	338.5	7.8	-2.5	—
+ Trade Receivables — Current	0.0	-31.8	27.4	-83.1	—
+ Other Current Assets	3.8	-29.3	55.8	-17.1	—
+ Other Non-current Assets	0.0	0.0	27.3	-28.4	—
+ Trade Payables — Current	0.0	46.7	-45.3	8.4	—
+ Other Current Liabilities	435.6	-28.9	-456.3	292.3	—
+ Other Non-current Liabilities	0.0	0.0	602.5	-79.7	—
+ Provisions — Current	0.0	16.1	0.0	0.0	—
Cash from Operating Activities
Profit Before Tax (per I/S)	1,671.4	1,642.9	1,595.1	2,031.7	2,152.0
+ Total Adjustments (incl. Working Capital)	-106.4	835.6	773.3	699.3	—
Cash from Operations (pre-tax)	1,565.0	2,478.5	2,368.4	2,731.0	—
+ Income Taxes Paid	209.0	316.8	284.9	305.3	—
Cash from Operating Activities	1,356.1	2,161.7	2,083.6	2,425.7	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	1,825.7	1,673.6	2,617.3	1,396.8	—
+ Disp of Fixed Assets	1.2	0.5	2.0	0.0	—
+ Disp of Investment Property	0.0	0.0	0.0	0.6	—
+ Acq of Interests in Joint Ventures	0.0	0.0	50.0	0.0	—
+ Disp of Interests in Joint Ventures	0.0	0.0	0.0	8.4	—
+ Acq of Subsidiaries / Businesses (net)	967.2	0.0	0.0	0.0	—
+ Disp of Subsidiaries / Businesses (net)	0.0	0.0	41.9	0.0	—
+ Investment in Partnership Firms / LLPs	0.5	0.0	0.0	0.0	—
+ Loans & Advances Made	0.0	12.9	0.0	0.0	—
+ Loans & Advances Repaid	39.3	0.0	46.7	13.6	—
+ Dividends Received — Investing	1.8	0.5	0.5	0.8	—
+ Interest Received — Investing	37.2	48.2	50.6	44.0	—
+ Other Inflows / (Outflows) — Investing	1,178.0	-221.8	363.4	-316.2	—
Cash from Investing Activities	-1,536.0	-1,859.1	-2,162.1	-1,645.6	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	5.2	5.6	5.3	5.1	—
+ Proceeds — Change in Ownership of Subsidiaries	763.0	0.0	225.2	207.9	—
+ Payments — Change in Ownership of Subsidiaries	0.0	0.0	0.0	1,256.6	—
+ Proceeds from Borrowings	1,981.9	1,050.0	449.9	2,092.6	—
+ Repayment of Borrowings	2,078.8	884.7	292.8	1,335.4	—
+ Payment of Lease Liabilities	0.0	0.0	0.0	7.1	—
+ Interest Paid	366.9	380.6	345.4	347.9	—
+ Dividends Paid	43.1	89.6	89.5	89.4	—
+ Other Inflows / (Outflows) — Financing	-124.7	0.0	0.0	0.3	—
Cash from Financing Activities	136.8	-299.2	-47.3	-730.5	—
Net Changes in Cash (pre-FX)	-43.2	3.4	-125.8	49.6	—
Net Changes in Cash	-43.2	3.4	-125.8	49.6	—
Closing Cash	264.6	99.5	-27.1	—	—
Reference Items
EBITDA	1,518.9	2,176.8	2,161.2	2,637.1	2,757.7
EBITDA Margin %	57.57	54.73	56.67	59.63	60.18
Free Cash Flow (CFO − Capex)	-469.7	488.1	-533.7	1,028.9	1,028.9
Free Cash Flow to Equity	—	460.2	-828.0	1,313.7	—
Free Cash Flow per Basic Share	-13.13	13.65	-14.92	28.77	28.77
Price to Free Cash Flow	—	—	—	—	68.47
Cash Flow to Net Income	0.92	1.62	1.59	1.56	—
Cash Paid for Taxes	209.0	316.8	284.9	305.3	—
Cash Paid for Interest	366.9	380.6	345.4	347.9	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.