Kolkata-headquartered steelmaker running a single Durgapur rolling mill that produces TMT bars, wire rods, HB wire, billets and wire nails, with a secondary wind-power generation business.
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 |
| Reserves | 68 | 71 | 75 | 80 | 86 | 98 | 104 | 110 |
| Borrowings | 23 | 41 | 48 | 49 | 43 | 23 | 18 | 34 |
| Other Liabilities | 29 | 34 | 32 | 33 | 34 | 26 | 26 | 30 |
| Total Liabilities | 166 | 193 | 202 | 209 | 210 | 194 | 194 | 221 |
| AssetsFixed Assets | 47 | 42 | 46 | 43 | 38 | 32 | 30 | 26 |
| CWIP | 0 | 0 | 0 | 0 | 5 | 11 | 13 | 35 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 119 | 151 | 155 | 166 | 167 | 150 | 152 | 160 |
| Total Assets | 166 | 193 | 202 | 209 | 210 | 194 | 194 | 221 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 42 | 25 | -13 | 20 | 10 | 24 | 37 | 10 |
| Cash from Investing | 5 | -6 | -1 | -11 | -3 | -4 | -4 | -36 |
| Cash from Financing | -47 | -21 | 14 | -9 | -7 | -13 | -22 | 9 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 42 | 19 | -14 | 10 | 8 | 18 | 31 | -13 |
| 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.
INCREDIBLE · CYCLICAL_UNMODELABLE
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