| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 7 | 22 | 26 | 26 | 26 | 26 | 26 | 30 |
| Reserves | 4 | 6 | 36 | 63 | 77 | 80 | 82 | 122 |
| Borrowings | 0 | 0 | 0 | 14 | 85 | 199 | 143 | 153 |
| Other Liabilities | 0 | 10 | 117 | 120 | 99 | 108 | 107 | 88 |
| Total Liabilities | 11 | 38 | 179 | 224 | 286 | 414 | 358 | 393 |
| AssetsFixed Assets | 0 | 15 | 36 | 53 | 54 | 52 | 50 | 47 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 14 | 14 | 14 |
| Investments | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 7 | 23 | 143 | 170 | 232 | 347 | 295 | 332 |
| Total Assets | 11 | 38 | 179 | 224 | 286 | 414 | 358 | 393 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 0 | -5 | 0 | 11 | -18 | -63 | -69 | 8 |
| Cash from Investing | 0 | 0 | -12 | -23 | -22 | -8 | -19 | 0 |
| Cash from Financing | 0 | 7 | 13 | 27 | 33 | 64 | 93 | -14 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 0 | -6 | -16 | -12 | -39 | -71 | -88 | 8 |
| 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.
WARDINMOBI · CYCLICAL_UNMODELABLE
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