| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 117 | 126 | 144 | 162 | 165 | 169 | 172 | 175 |
| Borrowings | 60 | 38 | 74 | 127 | 156 | 131 | 130 | 184 |
| Other Liabilities | 84 | 108 | 148 | 118 | 84 | 95 | 76 | 117 |
| Total Liabilities | 271 | 281 | 375 | 415 | 414 | 403 | 387 | 485 |
| AssetsFixed Assets | 81 | 81 | 88 | 102 | 110 | 105 | 103 | 104 |
| CWIP | 1 | 1 | 11 | 12 | 1 | 1 | 0 | 1 |
| Investments | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 4 |
| Other Assets | 188 | 199 | 275 | 300 | 302 | 295 | 281 | 376 |
| Total Assets | 271 | 281 | 375 | 415 | 414 | 403 | 387 | 485 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 14 | 14 | 14 | -10 | -20 | -13 | 44 | -34 |
| Cash from Investing | -1 | -3 | -5 | -23 | -20 | -2 | -4 | -8 |
| Cash from Financing | -14 | -11 | -9 | 33 | 40 | 14 | -40 | 43 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 13 | 11 | 9 | -32 | -41 | -17 | 40 | -41 |
| 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.
BASANTGL · CYCLICAL_UNMODELABLE
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