| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 11 |
| Reserves | 93 | -66 | -137 | -154 | -164 | -170 | -171 | 186 |
| Borrowings | 238 | 233 | 234 | 236 | 236 | 236 | 236 | 60 |
| Other Liabilities | 95 | 12 | 6 | 12 | 18 | 10 | 10 | 74 |
| Total Liabilities | 442 | 195 | 118 | 109 | 106 | 91 | 90 | 330 |
| AssetsFixed Assets | 90 | 71 | 62 | 56 | 48 | 42 | 41 | 236 |
| CWIP | 9 | 8 | 6 | 6 | 6 | 6 | 6 | 4 |
| Investments | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Other Assets | 330 | 104 | 39 | 34 | 39 | 31 | 31 | 77 |
| Total Assets | 442 | 195 | 118 | 109 | 106 | 91 | 90 | 330 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 45 | 26 | 1 | -1 | 1 | 5 | -8 | -15 |
| Cash from Investing | -49 | 8 | 3 | 1 | -0 | 1 | 0 | -8 |
| Cash from Financing | 3 | -34 | -5 | 0 | 1 | 0 | 0 | 23 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -6 | 20 | 5 | -1 | 1 | 5 | -8 | -23 |
| 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.
JTLDEFENCE · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.