| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 117 | 182 | 57 | 33 | 9 | -50 | -71 | -85 |
| Borrowings | 109 | 152 | 334 | 474 | 419 | 473 | 488 | 487 |
| Other Liabilities | 78 | 51 | 157 | 90 | 76 | 88 | 102 | 111 |
| Total Liabilities | 308 | 389 | 551 | 602 | 509 | 516 | 525 | 517 |
| AssetsFixed Assets | 169 | 171 | 173 | 172 | 458 | 453 | 463 | 443 |
| CWIP | 19 | 33 | 231 | 288 | 0 | 0 | 1 | 2 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11 |
| Other Assets | 120 | 185 | 147 | 142 | 51 | 63 | 60 | 61 |
| Total Assets | 308 | 389 | 551 | 602 | 509 | 516 | 525 | 517 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -1 | -14 | -46 | 84 | -55 | 120 | 27 | 16 |
| Cash from Investing | 2 | 5 | -62 | -159 | -74 | -14 | -40 | 2 |
| Cash from Financing | 3 | 4 | 119 | 74 | 125 | -107 | 18 | -24 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -1 | -33 | -86 | -149 | -127 | 105 | 14 | 10 |
| 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.
REFEXRENEW · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.