High Leverage / Negative EquitySubstantial liabilities and negative equity create structural financial vulnerability. High leverage increases interest burden, limits strategic optionality, and raises refinancing risk if cash flow weakens, constraining durable growth and investment flexibility.
Margin VolatilityHistoric swings in EBIT/EBITDA margins suggest operational sensitivity to project cycles, fuel costs, or pricing pressures. Persistent margin variability can impair forecasting, reduce free cash flow consistency, and complicate long-term planning for capital-intensive operations.
High Business Sensitivity (Beta)A beta above 2 indicates the company’s earnings and equity value are highly sensitive to market and macro shifts. For an infrastructure power operator, this implies elevated exposure to cyclical demand, commodity prices, and funding conditions that can impact durable cash flows.