| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 2 | 2 | 2 | 2 | 2 | 22 | 23 | 34 |
| Reserves | 1 | -3 | -3 | -3 | 45 | 79 | 76 | 67 |
| Borrowings | 1 | 0 | 0 | 4 | 4 | 3 | 2 | 6 |
| Other Liabilities | 0 | 3 | 17 | 19 | 21 | 9 | 12 | 12 |
| Total Liabilities | 4 | 3 | 16 | 23 | 72 | 114 | 112 | 119 |
| AssetsFixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 0 | 4 | 4 | 63 | 80 | 73 | 20 |
| Other Assets | 3 | 3 | 13 | 20 | 9 | 34 | 40 | 99 |
| Total Assets | 4 | 3 | 16 | 23 | 72 | 114 | 112 | 119 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | -1 | -0 | 3 | -4 | 5 | -38 | -58 |
| Cash from Investing | 1 | -1 | 1 | -3 | 0 | -6 | 7 | 60 |
| Cash from Financing | -1 | 1 | -1 | 0 | 4 | 1 | 31 | -3 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | -1 | -0 | 3 | -4 | 5 | -38 | -58 |
| 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.
CHANDRIMA · CYCLICAL_UNMODELABLE
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