| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 3 | 3 | 3 | 4 | 24 | 24 | 24 |
| Reserves | 2 | 2 | 2 | 3 | 5 | 39 | 42 | 41 |
| Borrowings | 8 | 6 | 4 | 13 | 15 | 2 | 2 | 3 |
| Other Liabilities | 44 | 41 | 82 | 103 | 153 | 144 | 141 | 225 |
| Total Liabilities | 58 | 52 | 92 | 123 | 176 | 209 | 209 | 292 |
| AssetsFixed Assets | 0 | 0 | 1 | 3 | 2 | 2 | 2 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 57 | 52 | 92 | 120 | 174 | 207 | 207 | 290 |
| Total Assets | 58 | 52 | 92 | 123 | 176 | 209 | 209 | 292 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 8 | 5 | 2 | 3 | -7 | 0 | -38 | -2 |
| Cash from Investing | 2 | 0 | 0 | 0 | -3 | 0 | 0 | 0 |
| Cash from Financing | -10 | -5 | -2 | -2 | 9 | 2 | 38 | 0 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 10 | 5 | 2 | 2 | -9 | 0 | -38 | -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.
MINID · CYCLICAL_UNMODELABLE
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