| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 1 | 19 | 14 | 9 | 10 | 9 | 9 | 11 |
| Borrowings | 100 | 75 | 80 | 127 | 153 | 213 | 266 | 312 |
| Other Liabilities | 51 | 19 | 19 | 21 | 18 | 17 | 18 | 38 |
| Total Liabilities | 155 | 115 | 115 | 159 | 183 | 242 | 296 | 363 |
| AssetsFixed Assets | 47 | 46 | 45 | 49 | 92 | 92 | 91 | 105 |
| CWIP | 0 | 6 | 19 | 52 | 35 | 88 | 129 | 185 |
| Investments | 2 | 8 | 5 | 3 | 7 | 4 | 4 | 0 |
| Other Assets | 106 | 55 | 46 | 55 | 49 | 59 | 72 | 73 |
| Total Assets | 155 | 115 | 115 | 159 | 183 | 242 | 296 | 363 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -2 | -34 | 41 | 15 | 9 | 5 | 13 | 38 |
| Cash from Investing | -11 | 39 | -5 | -10 | -35 | -30 | -49 | -107 |
| Cash from Financing | 13 | -3 | -37 | -5 | 37 | 16 | 44 | 84 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -12 | -43 | 42 | 1 | -28 | -23 | -41 | -74 |
| 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.
RAJABAH · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.