| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 46 | 47 | 47 | 48 | 63 | 82 | 89 | 335 |
| Borrowings | 47 | 62 | 71 | 75 | 113 | 184 | 255 | 184 |
| Other Liabilities | 34 | 26 | 34 | 52 | 83 | 153 | 151 | 334 |
| Total Liabilities | 135 | 143 | 161 | 184 | 267 | 428 | 505 | 862 |
| AssetsFixed Assets | 10 | 11 | 10 | 11 | 18 | 50 | 71 | 316 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 125 | 132 | 150 | 174 | 250 | 378 | 434 | 546 |
| Total Assets | 135 | 143 | 161 | 184 | 267 | 428 | 505 | 862 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -29 | -15 | -8 | 1 | 2 | -27 | -14 | -6 |
| Cash from Investing | 57 | 34 | -2 | 0 | -2 | 10 | -12 | -19 |
| Cash from Financing | -26 | -14 | 6 | -2 | -1 | 20 | 30 | 31 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 65 | -16 | -11 | 1 | 1 | -36 | -37 | -26 |
| 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.
DLTNCBL · CYCLICAL_UNMODELABLE
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