| Line item | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
| Reserves | 181 | 179 | 104 | 31 | 101 | 83 | 72 | 170 |
| Borrowings | 361 | 392 | 419 | 155 | 122 | 120 | 110 | 0 |
| Other Liabilities | 119 | 150 | 208 | 63 | 38 | 29 | 23 | 29 |
| Total Liabilities | 689 | 749 | 759 | 276 | 288 | 260 | 233 | 227 |
| AssetsFixed Assets | 298 | 343 | 405 | 88 | 64 | 60 | 50 | 49 |
| CWIP | 20 | 2 | 1 | 1 | 1 | 1 | 2 | 1 |
| Investments | 12 | 4 | 3 | 1 | 40 | 29 | 0 | 32 |
| Other Assets | 359 | 400 | 350 | 187 | 184 | 170 | 181 | 145 |
| Total Assets | 689 | 749 | 759 | 276 | 288 | 260 | 233 | 227 |
| Line item | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 17 | 31 | 5 | 101 | 20 | 28 | 8 | 5 |
| Cash from Investing | -234 | -55 | -85 | 274 | -8 | 11 | 14 | -16 |
| Cash from Financing | 16 | -29 | 38 | -125 | -15 | -19 | -1 | 11 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -222 | -26 | -85 | 411 | 39 | 27 | 14 | 2 |
| 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.
INDSILHYD · CYCLICAL_UNMODELABLE
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