Mumbai-based manufacturer of customized lithium-ion battery packs (LiFePO4, NMC, LTO, LiPO, LiHV, solid-state) for EVs, energy storage, UPS/inverters, robotics, drones and industrial equipment.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 0 | 3 | 3 | 16 | 20 | 20 | 20 |
| Reserves | 3 | 12 | 20 | 17 | 69 | 69 | 67 |
| Borrowings | 5 | 12 | 11 | 11 | 31 | 22 | 20 |
| Other Liabilities | 2 | 10 | 8 | 7 | 29 | 7 | 5 |
| Total Liabilities | 9 | 36 | 41 | 50 | 148 | 119 | 112 |
| AssetsFixed Assets | 2 | 8 | 8 | 7 | 14 | 23 | 26 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 7 | 28 | 33 | 43 | 134 | 96 | 85 |
| Total Assets | 9 | 36 | 41 | 50 | 148 | 119 | 112 |
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -3 | 1 | 3 | 3 | 13 | -33 |
| Cash from Investing | -2 | -6 | -1 | -1 | -13 | -12 |
| Cash from Financing | 5 | 7 | -2 | -1 | 63 | -13 |
| SummaryCapital Expenditure | — | — | — | — | — | — |
| Free Cash Flow | -5 | -5 | 2 | 2 | 4 | -45 |
| FCF Margin | — | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
ATCENERGY · CYCLICAL_UNMODELABLE
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