| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 9 | 9 | 9 | 9 | 9 | 11 | 11 | 12 |
| Reserves | 13 | 8 | 1 | 4 | 10 | 85 | 92 | 107 |
| Borrowings | 27 | 30 | 27 | 16 | 10 | 10 | 1 | 1 |
| Other Liabilities | 13 | 25 | 28 | 28 | 22 | 25 | 20 | 18 |
| Total Liabilities | 61 | 72 | 65 | 57 | 51 | 131 | 125 | 139 |
| AssetsFixed Assets | 19 | 17 | 14 | 12 | 12 | 11 | 11 | 10 |
| CWIP | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 96 | 96 | 96 |
| Other Assets | 40 | 55 | 51 | 45 | 39 | 23 | 18 | 32 |
| Total Assets | 61 | 72 | 65 | 57 | 51 | 131 | 125 | 139 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 6 | 5 | 0 | 33 | 11 | 4 | 15 | -17 |
| Cash from Investing | -1 | -2 | 0 | 1 | 1 | -1 | -97 | 0 |
| Cash from Financing | -5 | -3 | -1 | -34 | -12 | -0 | 80 | 17 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 5 | 3 | 0 | 34 | 12 | 3 | 14 | -17 |
| 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.
RUDRAECO · CYCLICAL_UNMODELABLE
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