| Line item | FY19 | FY20 | FY21 | FY22 |
|---|---|---|---|---|
| LiabilitiesEquity Capital | — | 7 | 7 | 7 |
| Reserves | — | 103 | 114 | 152 |
| Borrowings | — | 113 | 131 | 156 |
| Other Liabilities | — | 177 | 164 | 76 |
| Total Liabilities | — | 400 | 415 | 392 |
| AssetsFixed Assets | — | 105 | 189 | 171 |
| CWIP | — | 88 | 1 | 36 |
| Investments | — | 0 | 0 | 0 |
| Other Assets | — | 207 | 226 | 184 |
| Total Assets | — | 400 | 415 | 392 |
| Line item | FY19 | FY20 | FY21 | FY22 |
|---|---|---|---|---|
| ActivitiesCash from Operating | — | 9 | 12 | 0 |
| Cash from Investing | — | -11 | -1 | -17 |
| Cash from Financing | — | 4 | -5 | 7 |
| SummaryCapital Expenditure | — | — | — | — |
| Free Cash Flow | — | -7 | 6 | -35 |
| 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.
KAJARIR · CYCLICAL_UNMODELABLE
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