| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 4 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 1 | -0 | 2 | 0 | -7 | -13 | -14 | -17 |
| Borrowings | 0 | 0 | 0 | 3 | 18 | 18 | 20 | 21 |
| Other Liabilities | 0 | 0 | 0 | 19 | 3 | 4 | 3 | 3 |
| Total Liabilities | 4 | 4 | 12 | 33 | 25 | 20 | 19 | 18 |
| AssetsFixed Assets | 0 | 0 | 0 | 7 | 6 | 4 | 3 | 2 |
| CWIP | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 4 | 4 | 12 | 25 | 19 | 15 | 16 | 15 |
| Total Assets | 4 | 4 | 12 | 33 | 25 | 20 | 19 | 18 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | 0 | 3 | -10 | 9 | -15 | -2 | -2 |
| Cash from Investing | 0 | 0 | -0 | 0 | -9 | 0 | -0 | -0 |
| Cash from Financing | 0 | -0 | 0 | 8 | 3 | 15 | -0 | 3 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | 0 | 3 | -10 | 0 | -15 | -2 | -3 |
| 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.
WAAREE · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.