| Line item | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 15 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 40 | 52 | 57 | 60 | 60 | 62 |
| Borrowings | 10 | 14 | 26 | 42 | 37 | 34 |
| Other Liabilities | 19 | 12 | 11 | 10 | 12 | 16 |
| Total Liabilities | 84 | 93 | 110 | 127 | 124 | 127 |
| AssetsFixed Assets | 25 | 33 | 33 | 77 | 76 | 75 |
| CWIP | 0 | 0 | 21 | 2 | 4 | 4 |
| Investments | 7 | 17 | 20 | 20 | 17 | 16 |
| Other Assets | 51 | 43 | 36 | 29 | 28 | 32 |
| Total Assets | 84 | 93 | 110 | 127 | 124 | 127 |
| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ActivitiesCash from Operating | 9 | 15 | 16 | 8 | 14 |
| Cash from Investing | -3 | -20 | -26 | -2 | -0 |
| Cash from Financing | 4 | 1 | 8 | -9 | -12 |
| SummaryCapital Expenditure | — | — | — | — | — |
| Free Cash Flow | 5 | 4 | -7 | -1 | 9 |
| 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.
CHEMCRUX · CYCLICAL_UNMODELABLE
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