| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 132 | 174 | 211 | 230 | 279 | 283 | 272 | 253 |
| Borrowings | 0 | 11 | 6 | 8 | 7 | 10 | 14 | 14 |
| Other Liabilities | 23 | 39 | 57 | 70 | 49 | 57 | 64 | 78 |
| Total Liabilities | 158 | 226 | 277 | 310 | 337 | 353 | 353 | 348 |
| AssetsFixed Assets | 35 | 33 | 33 | 38 | 44 | 51 | 50 | 48 |
| CWIP | 0 | 0 | 1 | 1 | 3 | 0 | 1 | 3 |
| Investments | 70 | 103 | 126 | 130 | 177 | 185 | 170 | 148 |
| Other Assets | 53 | 89 | 116 | 141 | 113 | 116 | 133 | 148 |
| Total Assets | 158 | 226 | 277 | 310 | 337 | 353 | 353 | 348 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 7 | 8 | -10 | 7 | 11 | 16 | 5 | 4 |
| Cash from Investing | -4 | -1 | -1 | -1 | -8 | -9 | -5 | -6 |
| Cash from Financing | -3 | -8 | 10 | -6 | -3 | -7 | -1 | 2 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 5 | -3 | -10 | 3 | -6 | 9 | -3 | -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.
LAKSELEC · CYCLICAL_UNMODELABLE
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