| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 1 | 1 | 1 | 18 | 19 | 19 |
| Reserves | 10 | 11 | 12 | 19 | 29 | 27 | 54 | 54 |
| Borrowings | 11 | 10 | 16 | 8 | 1 | 17 | 32 | 8 |
| Other Liabilities | 1 | 5 | 30 | 49 | 28 | 12 | 170 | 47 |
| Total Liabilities | 23 | 28 | 59 | 76 | 59 | 74 | 275 | 129 |
| AssetsFixed Assets | 12 | 13 | 12 | 12 | 12 | 17 | 17 | 16 |
| CWIP | 0 | 0 | 0 | 5 | 5 | 0 | 0 | 0 |
| Investments | 0 | 1 | 0 | 6 | 2 | 7 | 8 | 8 |
| Other Assets | 11 | 15 | 47 | 53 | 40 | 50 | 251 | 105 |
| Total Assets | 23 | 28 | 59 | 76 | 59 | 74 | 275 | 129 |
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 7 | 2 | 35 | -4 | -13 | -5 |
| Cash from Investing | -9 | -2 | -8 | -19 | 11 | -8 | -2 |
| Cash from Financing | 10 | -4 | 3 | -9 | -8 | 16 | 7 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — |
| Free Cash Flow | -9 | 6 | 1 | 29 | -5 | -16 | -7 |
| 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.
METAINFO · CYCLICAL_UNMODELABLE
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