| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 101 | 142 | 272 | 244 | 211 | 128 | 167 | 164 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 3 | 4 | 24 | 24 | 16 | 1 | 7 | 6 |
| Total Liabilities | 105 | 147 | 296 | 269 | 228 | 130 | 175 | 171 |
| AssetsFixed Assets | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 46 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 92 | 142 | 291 | 265 | 223 | 125 | 171 | 122 |
| Other Assets | 10 | 3 | 3 | 2 | 3 | 4 | 2 | 3 |
| Total Assets | 105 | 147 | 296 | 269 | 228 | 130 | 175 | 171 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -1 | -1 | -1 | 1 | -1 | -2 | -2 | -4 |
| Cash from Investing | -1 | 2 | -0 | 1 | 1 | 3 | 2 | 4 |
| Cash from Financing | -0 | -0 | -0 | 0 | -0 | -1 | -0 | 0 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -4 | -5 | 6 | 1 | -1 | -2 | -2 | -4 |
| 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.
KEMP · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.