| Line item | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 17 | 17 | 17 | 17 | 26 |
| Reserves | 116 | 122 | 124 | 163 | 222 |
| Borrowings | 442 | 617 | 610 | 558 | 558 |
| Other Liabilities | 295 | 330 | 418 | 433 | 672 |
| Total Liabilities | 871 | 1.1k | 1.2k | 1.2k | 1.5k |
| AssetsFixed Assets | 0 | 63 | 86 | 109 | 268 |
| CWIP | 0 | 128 | 162 | 169 | 0 |
| Investments | 14 | 10 | 12 | 11 | 11 |
| Other Assets | 857 | 886 | 910 | 882 | 1.2k |
| Total Assets | 871 | 1.1k | 1.2k | 1.2k | 1.5k |
| Line item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ActivitiesCash from Operating | — | 43 | 138 | -39 |
| Cash from Investing | — | -198 | -37 | 0 |
| Cash from Financing | — | 164 | -98 | 51 |
| SummaryCapital Expenditure | — | — | — | — |
| Free Cash Flow | — | -153 | 97 | -68 |
| 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.
RRECL · CYCLICAL_UNMODELABLE
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