| Line item | FY26 |
|---|---|
| LiabilitiesEquity Capital | 12 |
| Reserves | 30 |
| Borrowings | 2 |
| Other Liabilities | 3 |
| Total Liabilities | 46 |
| AssetsFixed Assets | 9 |
| CWIP | 4 |
| Investments | 13 |
| Other Assets | 20 |
| Total Assets | 46 |
| Line item | FY26 |
|---|---|
| ActivitiesCash from Operating | 2 |
| Cash from Investing | -12 |
| Cash from Financing | 7 |
| SummaryCapital Expenditure | — |
| Free Cash Flow | -3 |
| 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.
MRP · CYCLICAL_UNMODELABLE
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