| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Reserves | 7 | 9 | 12 | 13 | 15 | 15 | 15 | 16 |
| Borrowings | 5 | 5 | 4 | 6 | 5 | 10 | 12 | 10 |
| Other Liabilities | 6 | 6 | 6 | 6 | 6 | 7 | 9 | 8 |
| Total Liabilities | 24 | 27 | 29 | 32 | 33 | 38 | 43 | 41 |
| AssetsFixed Assets | 15 | 14 | 15 | 18 | 19 | 20 | 29 | 29 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 5 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 9 | 12 | 14 | 13 | 13 | 14 | 14 | 12 |
| Total Assets | 24 | 27 | 29 | 32 | 33 | 38 | 43 | 41 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 3 | 5 | -3 | 0 | 9 | 2 | 5 | 4 |
| Cash from Investing | -2 | -7 | 4 | 1 | -9 | -0 | -7 | -2 |
| Cash from Financing | -1 | 2 | -1 | -1 | 0 | -2 | 2 | -2 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 1 | -0 | -4 | -1 | 4 | 0 | -0 | -1 |
| 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.
LAKSHMIEW · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.