Ann: Annual Report to shareholders, page-92

The debt was higher than expected and no guidance probably combined drove the de-rate, particularly if investors are worried about an imminent CR to plug the debt in the absence of a restructuring.

Given the accounting policies are messing around with the net profit line I would focus on EV / EBIDTA which is 3.7x FY24 earnings which is cheap if the operating business is to continue growing around 15-20% per annum (assuming that what management is saying with their positive commentary).

I wouldn't get caught up with goodwill impairments and the like - it is merely an adjustment to historic costs that don't impact the cash position though reduces the effective tax rate in the current year.