| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 114 | 115 | 117 | 119 | 121 | 124 | 125 | 126 |
| Borrowings | 15 | 15 | 16 | 14 | 15 | 11 | 11 | 10 |
| Other Liabilities | 8 | 8 | 16 | 19 | 8 | 16 | 23 | 19 |
| Total Liabilities | 204 | 206 | 216 | 219 | 212 | 218 | 227 | 223 |
| AssetsFixed Assets | 179 | 179 | 184 | 184 | 183 | 183 | 183 | 183 |
| CWIP | 12 | 12 | 8 | 8 | 8 | 8 | 8 | 8 |
| Investments | 2 | 3 | 4 | 3 | 1 | 0 | 0 | 0 |
| Other Assets | 10 | 11 | 21 | 24 | 19 | 27 | 35 | 32 |
| Total Assets | 204 | 206 | 216 | 219 | 212 | 218 | 227 | 223 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 5 | 1 | 2 | 3 | 6 | 4 | 3 | 3 |
| Cash from Investing | -7 | -1 | 0 | -0 | -1 | -3 | 0 | -2 |
| Cash from Financing | 0 | 0 | -2 | -2 | -4 | -1 | -3 | -1 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -0 | -1 | 2 | 3 | 5 | 2 | 2 | 3 |
| 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.
PQIF · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.