| Line item | FY18 | FY19 | FY20 | FY21 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 12 | 12 | 12 | 12 | 44 | 47 | 47 | 47 |
| Reserves | 13 | 14 | 10 | 11 | 14 | 70 | 72 | 97 |
| Borrowings | 8 | 9 | 9 | 11 | 35 | 38 | 49 | 81 |
| Other Liabilities | 30 | 25 | 44 | 61 | 39 | 45 | 42 | 59 |
| Total Liabilities | 63 | 60 | 76 | 95 | 131 | 200 | 210 | 284 |
| AssetsFixed Assets | 7 | 9 | 9 | 8 | 47 | 48 | 49 | 57 |
| CWIP | 2 | 1 | 0 | 0 | 1 | 1 | 2 | 2 |
| Investments | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Other Assets | 53 | 49 | 65 | 86 | 83 | 151 | 158 | 225 |
| Total Assets | 63 | 60 | 76 | 95 | 131 | 200 | 210 | 284 |
| Line item | FY17 | FY18 | FY19 | FY20 | FY21 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | -6 | 3 | -2 | -1 | 11 | -20 | -22 |
| Cash from Investing | -9 | 3 | -2 | 8 | -1 | 18 | -4 | -15 |
| Cash from Financing | 11 | 3 | -1 | -7 | 1 | -27 | 26 | 37 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 1 | -8 | 2 | -2 | -1 | 10 | -22 | -33 |
| 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.
AXISOL · CYCLICAL_UNMODELABLE
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