| Line item | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 12 | 13 | 16 | 19 | 33 |
| Reserves | 27 | 36 | 57 | 74 | 112 |
| Borrowings | 11 | 11 | 86 | 126 | 175 |
| Other Liabilities | 53 | 32 | 33 | 23 | 22 |
| Total Liabilities | 103 | 92 | 192 | 241 | 342 |
| AssetsFixed Assets | 23 | 22 | 25 | 85 | 80 |
| CWIP | 12 | 32 | 115 | 94 | 189 |
| Investments | 6 | 9 | 15 | 16 | 37 |
| Other Assets | 63 | 29 | 36 | 45 | 35 |
| Total Assets | 103 | 92 | 192 | 241 | 342 |
| Line item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | -2 | 2 | -3 |
| Cash from Investing | 0 | -18 | -97 | -127 |
| Cash from Financing | 0 | 5 | 94 | 134 |
| SummaryCapital Expenditure | — | — | — | — |
| Free Cash Flow | 0 | -14 | -101 | -113 |
| 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.
SURJIND · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.