Phoenix Mill Ltd is one of the leading mall developers and operators in India. Phoenix offers a unique opportunity for any retailer to expand rapidly in India due to its strong operational performance and scalability. Its revenue CAGR over 5 years stand at 6.5%.ROCE has been improving continuously and stands at 13% in FY19 from 10.4% in FY15. The stock is currently trading at 12xEV/EBITDA. The company also pays dividend of average 15%. Considering all the operational performance factors, we recommend BUY.
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