MarketFriction

Cubex Tubings Ltd

NSE CUBEXTUB · BSE 526027 · Aluminium, Copper & Zinc Products
₹166.10 -5.00%
NSE close2026-10-01
52 week range73.10 - 184.00
Market cap₹252 Cr.
P/E33.4
ESM Price band 5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales64.0156.9450.2654.9355.2072.7684.2349.8773.7075.0389.4064.97
Expenses62.1354.8348.4053.3852.8169.9481.2847.4970.4471.3692.1363.56
Operating Profit1.882.111.861.552.392.822.952.383.263.67-2.731.41
OPM %2.94%3.71%3.70%2.82%4.33%3.88%3.50%4.77%4.42%4.89%-3.05%2.17%
Other Income0.710.160.000.500.370.530.670.510.441.835.441.77
Interest0.380.450.570.490.770.700.520.930.961.000.991.00
Depreciation0.330.340.330.340.270.300.310.280.280.280.440.33
Profit before tax1.881.480.961.221.722.352.791.682.464.221.281.85
Tax %30.32%31.08%-5.21%25.41%24.42%8.51%17.56%26.79%28.86%26.30%-7.81%29.19%
Net Profit1.311.011.010.911.302.142.301.231.743.111.371.32
EPS in Rs0.910.710.710.640.911.491.610.861.222.170.960.92
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales524651756070134191221267288303
Expenses524551745867131187214257281297
Operating Profit00-01133571076
OPM %0.6%0.1%-0.3%0.8%2.4%4.3%1.9%2.4%3.1%3.6%2.3%1.9%
Other Income222211222289
Interest000101112244
Depreciation211111111111
Profit before tax00011224581010
Tax %36%24%20%6%43%31%2%36%25%18%23%
Net Profit000101234778
EPS in Rs0.210.240.270.460.300.931.691.852.794.655.205.27
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth19%33%15%16%
Compounded Profit Growth38%41%41%8%
Stock Price CAGR30%51%56%83%
Return on Equity4%7%8%9%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital141414141414141414141414
Reserves424243434444454850556269
Borrowings54576511013153343
Other Liabilities667101515252420213181
Total Liabilities676768757979869697105140208
Fixed Assets201918171517151615141413
CWIP000000000000
Investments000000000000
Other Assets47485158646271808290126194
Total Assets676768757979869697105140208
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3224-03-0103-15
Cash from Investing Activity-0-0-0-11-3-0-001-21
Cash from Financing Activity-2-3-1-4-1-0-1-1-1-21-4
Net Cash Flow1-11-1-01-1-0-03-22
Free Cash Flow2123-01-0-1-13-14
CFO/OP353%523%3,800%-2,312%-16%242%7%63%29%55%6%111%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days13117220317818517418311669758266
Inventory Days5534531036813911752472947122
Days Payable25334566749413453262435100
Cash Conversion Cycle16017321121517921916611590799487
Working Capital Days1691912221871651981688568635964
ROCE %1%1%1%1%2%2%4%5%7%9%11%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters44.42%44.42%44.42%44.42%44.42%44.42%44.42%44.42%44.42%44.42%44.42%44.42%
FIIs0.00%0.00%0.00%0.00%0.00%0.05%0.00%0.18%0.08%0.25%0.19%0.00%
DIIs0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%0.32%
Government0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%0.04%
Public55.22%55.22%55.22%55.22%55.21%55.17%55.23%55.05%55.14%54.97%55.03%55.22%
No. of Shareholders9,4269,9029,43210,62810,97112,29013,82414,48114,62520,59324,81924,646

Fundamentals

Market Cap₹ 252 Cr.
Current Price₹ 176
Stock P/E33.4
Book Value₹ 58.2
ROCE11.5 %
ROE9.36 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)16%
Compounded Profit Growth (TTM)8%
Standalone figures.
Valuation
Market capRs 238 Cr
Enterprise valueRs 277 Cr
P/E (TTM)31.54x
Price to book2.85x
Price to sales0.78x
EV / EBITDA18.37x
EV / EBIT20.15x
EV / sales0.91x
Price to cash flow44.96x
Earnings yield3.17%
P/E, 3-year average22.26x
P/B, 3-year average1.60x
P/E, 5-year average19.03x
P/B, 5-year average1.19x
Profitability
Operating margin (excl. other income)2.30%
Operating margin (incl. other income)5.16%
EBITDA margin4.98%
Pre-tax margin3.24%
Net profit margin2.49%
Net margin, latest quarter2.03%
ROE9.36%
ROCE11.49%
ROA4.29%
ROE, 3-year average8.17%
ROCE, 3-year average10.46%
ROA, 3-year average4.56%
ROE, 5-year average6.53%
ROCE, 5-year average8.58%
ROA, 5-year average3.82%
ROIC (approx.)8.67%
Tax rate22.64%
Other income / net worth9.87%
Growth
Sales growth (latest year)7.81%
Profit growth (latest year)11.86%
Sales CAGR, 3 years14.66%
Sales CAGR, 5 years32.69%
Profit CAGR, 3 years41.14%
Profit CAGR, 5 years41.14%
Sales growth QoQ-27.33%
Profit growth QoQ-3.65%
Sales growth YoY (latest quarter)30.28%
Profit growth YoY (latest quarter)7.32%
Per share
EPS (TTM)Rs 5.27
EPS (latest year)Rs 5.20
EPS (latest quarter)Rs 0.92
EPS, 3-year averageRs 4.21
EPS, 5-year averageRs 3.24
Book value per shareRs 58.18
Sales per shareRs 211.68
Cash flow per shareRs 3.69
Free cash flow per shareRs 2.79
Efficiency
Asset turnover1.39x
Fixed asset turnover21.79x
Inventory turnover3.15x
Inventory days116 days
Debtor days66 days
Debtors turnover5.51x
Creditor days100 days
Cash conversion cycle87 days
Working capital days64 days
Leverage
Total debtRs 43 Cr
Cash and bankRs 4 Cr
Net debtRs 39 Cr
Debt to equity0.52x
Net debt / EBITDA2.61x
Interest coverage3.48x
Owners' fund to total sources40.13%
Debt to assets20.92%
Cash flow
Cash from Operating Activity (latest year)Rs 5 Cr
Cash from Investing Activity (latest year)Rs 1 Cr
Cash from Financing Activity (latest year)Rs -4 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs 4 Cr
FCFE (approx.: FCF + change in debt)Rs 14 Cr
Cash from ops / profit, 5 years0.35x
Sales to cash flow54.44x
Statement figures
Net sales (TTM)Rs 303 Cr
Net sales (latest year)Rs 288 Cr
Sales (latest quarter)Rs 65 Cr
Operating profit excl. other income (latest year)Rs 7 Cr
Operating profit (latest quarter)Rs 1 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 15 Cr
PBDT (TTM)Rs 11 Cr
Profit before tax (TTM)Rs 10 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 8 Cr
Net profit (latest year)Rs 7 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 4 Cr
Cost of goods sold (latest year)Rs 277 Cr
Total expenditure (latest year)Rs 281 Cr
Total income (latest year)Rs 296 Cr
Share capitalRs 14 Cr
ReservesRs 69 Cr
Shareholders' fundsRs 83 Cr
Total assetsRs 208 Cr
Net blockRs 13 Cr
ReceivablesRs 52 Cr
InventoryRs 88 Cr
Other liabilitiesRs 81 Cr
Shares outstanding (crore)1.43
Ownership
Promoter holding44.42% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 31.5 is at the 51th percentile of its own 9.4-year range (median 30.4, low 12.6, high 142.6).
P/B 2.85 is at the 98th percentile (median 0.66).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodCUBEXTUBNifty 50Difference
1 week+20.0%-2.8% +22.8 pts
1 month+116.2%-6.8% +123.0 pts
3 months+100.8%-7.6% +108.4 pts
6 months+124.6%+0.4% +124.2 pts
1 year+64.3%-9.9% +74.2 pts
2 years+69.7%-13.6% +83.3 pts
3 years+256.8%+14.2% +242.6 pts
5 years+617.5%+27.9% +589.6 pts

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was 44% of net profit over the last 3 years
lookInventory outrunning sales Inventory grew 180% vs sales +8% in 2026
lookProfit leans on other income Other income was 85% of pre-tax profit in 2026
lookOn NSE surveillance On NSE surveillance: ESM
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹65 Cr +30.3% vs Jun 2025. Net profit ₹1 Cr +7.3%.

Activity

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DateClientSideQtyPrice
2026-09-28Tajuddin Dastagir PathanSELL74,552161.05
Ex-dateActionFactor
2024-07-16Annual General Meeting
2022-08-26Annual General Meeting
2021-08-26 Annual General Meeting
2020-12-15 Annual General Meeting
2019-09-19 Annual General Meeting
2018-09-19 Annual General Meeting
2017-09-21 Annual General Meeting
2016-09-21 Annual General Meeting
2015-09-18 Annual General Meeting
2014-09-25Annual General Meeting
2013-09-24Annual General Meeting
2012-09-24Annual General Meeting
2011-09-26Annual General Meeting
2009-09-24Annual General Meeting
2008-09-25Annual General Meeting
2007-09-24Agm Agm/Bc Dates Revised
2006-09-25Agm
DateTypeWhat it says
2026-09-17Board meeting outcomeOutcome of Board Meeting held on September 17, 2026.
2026-08-13Board meeting outcomeCubex Tubings Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-03Shareholder meetingVoting results.
2026-07-31Shareholder meetingProceedings of Annual General Meeting held on July 30, 2026
2026-07-08General UpdatesGeneral Updates
2026-07-07Shareholder meetingNotice of Annual General Meeting to be held on July 30, 2026
2026-07-04UpdatesNOT A LARGE BODY CORPORATE.
2026-06-02Disclosure under SEBI TakeovVeena Bhandari has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Ac...
2026-05-16Board meeting outcomeCubex Tubings Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-14General UpdatesGeneral Updates
2026-02-13Board meeting outcomeCubex Tubings Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-13Integrated Filing- FinancialUn-Audited Financial Results - Dec 2025
2026-02-13Board meeting outcomeBoard meeting held on February 13, 2026.
2026-01-01Price movementSignificant movement in price has been observed in Cubex Tubings Limited. The Exchange, in order to ensure that investors have latest relevant informa...
2025-12-30Price movementSignificant movement in price has been observed in Cubex Tubings Limited. The Exchange, in order to ensure that investors have latest relevant informa...
2025-11-13Board meeting outcomeCubex Tubings Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
2025-11-13Board meeting outcomeBoard meeting held on November 13, 2025.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
ESM: stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03