| Line item | FY26 |
|---|---|
| LiabilitiesEquity Capital | 349 |
| Reserves | -10 |
| Borrowings | 0 |
| Other Liabilities | 19 |
| Total Liabilities | 359 |
| AssetsFixed Assets | 329 |
| CWIP | 0 |
| Investments | 0 |
| Other Assets | 30 |
| Total Assets | 359 |
| Line item | FY26 |
|---|---|
| ActivitiesCash from Operating | 28 |
| Cash from Investing | 1 |
| Cash from Financing | -31 |
| SummaryCapital Expenditure | — |
| Free Cash Flow | 28 |
| 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.
PSPLATINA · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.