| Line item | FY14 | FY15 | FY16 |
|---|---|---|---|
| LiabilitiesEquity Capital | 75 | 99 | 99 |
| Reserves | 7 | -1 | -6 |
| Borrowings | 62 | 47 | 0 |
| Other Liabilities | 91 | 67 | 103 |
| Total Liabilities | 235 | 212 | 196 |
| AssetsFixed Assets | 90 | 91 | 85 |
| CWIP | 6 | 0 | 0 |
| Investments | 105 | 110 | 108 |
| Other Assets | 33 | 10 | 3 |
| Total Assets | 235 | 212 | 196 |
| Line item | FY14 | FY15 | FY16 |
|---|---|---|---|
| ActivitiesCash from Operating | 19 | -24 | 3 |
| Cash from Investing | -168 | -6 | 3 |
| Cash from Financing | 165 | 14 | -8 |
| SummaryCapital Expenditure | — | — | — |
| Free Cash Flow | -44 | -25 | 3 |
| FCF Margin | — | — | — |
For capital-heavy businesses (telecom, power, heavy manufacturing) reported profit ignores the cash needed just to stand still. We'd systematically overvalue it, so we don't show a number.
GLOBUSCON · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.