| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 15 | 15 | 15 | 15 | 15 | 16 | 16 | 20 |
| Reserves | 8 | 20 | 35 | 33 | 33 | 34 | 31 | 52 |
| Borrowings | 18 | 10 | 13 | 10 | 13 | 21 | 25 | 21 |
| Other Liabilities | 13 | 21 | 15 | 8 | 6 | 8 | 12 | 13 |
| Total Liabilities | 54 | 66 | 78 | 66 | 68 | 78 | 84 | 107 |
| AssetsFixed Assets | 31 | 27 | 19 | 25 | 27 | 35 | 32 | 36 |
| CWIP | 0 | 0 | 0 | 2 | 3 | 5 | 5 | 5 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Other Assets | 23 | 39 | 59 | 39 | 38 | 39 | 47 | 63 |
| Total Assets | 54 | 66 | 78 | 66 | 68 | 78 | 84 | 107 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 4 | -0 | 5 | 20 | -6 | 3 | 10 | 0 |
| Cash from Investing | -8 | -2 | -1 | -1 | -7 | -12 | -16 | -10 |
| Cash from Financing | 6 | 0 | -0 | 6 | -10 | 2 | 5 | 19 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -4 | -2 | 4 | 17 | -15 | -9 | -6 | -8 |
| 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.
JSTL · CYCLICAL_UNMODELABLE
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