| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 4 | 5 | 6 | 6 | 6 | 7 | 7 | 7 |
| Reserves | 24 | 25 | 27 | 29 | 38 | 45 | 46 | 46 |
| Borrowings | 10 | 15 | 17 | 27 | 31 | 22 | 25 | 34 |
| Other Liabilities | 10 | 12 | 11 | 12 | 14 | 15 | 18 | 15 |
| Total Liabilities | 48 | 56 | 61 | 73 | 88 | 88 | 97 | 102 |
| AssetsFixed Assets | 43 | 44 | 49 | 58 | 66 | 67 | 68 | 69 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Investments | 1 | 2 | 1 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 5 | 10 | 11 | 15 | 21 | 21 | 29 | 33 |
| Total Assets | 48 | 56 | 61 | 73 | 88 | 88 | 97 | 102 |
| Line item | FY26 |
|---|---|
| ActivitiesCash from Operating | 0 |
| Cash from Investing | -5 |
| Cash from Financing | 5 |
| SummaryCapital Expenditure | — |
| Free Cash Flow | -4 |
| 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.
UVDRHOR · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.