Historical VolatilityMulti-year volatility in results and cash flows undermines predictability of earnings and investment planning. For an engineering & construction firm, uneven performance raises the risk that current improvements could reverse with project timing, contract margins or sector slowdowns, complicating durable forecasting.
Inconsistent ProfitabilityA swing from negative to very strong ROE year-to-year signals inconsistent margin generation. Such instability may reflect one-off gains, lumpy project margins, or execution variability, limiting confidence that FY2025 margins will be sustained and raising the risk of future margin compression.
Limited Forward DisclosureAbsence of guidance or investor-facing commentary reduces visibility into backlog, tender wins and near-term cash needs. Structurally, limited disclosure makes it harder for stakeholders to assess sustainability of the rebound and constrains market confidence in management's forward plans over the coming months.