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Cubex Tubings Overview

Cubex Tubings Limited is a leading Indian manufacturer and exporter of specialized tubing products catering to diverse industrial sectors. Established in 1990, the company has carved a niche for itself in the tubing domain with its cutting-edge technology and commitment to quality. Portfolio encompasses a wide range of tubing solutions, including copper tubes, bundy tubes, precision tubes, and automotive tubing products. These products find applications in varied industries such as automotive, aerospace, oil and gas, pharmaceuticals, and heavy ...Read More

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Cubex Tubings Key Financials

Market Cap ₹144 Cr.

Stock P/E 21.6

P/B 1.8

Current Price ₹100.4

Book Value ₹ 57.2

Face Value 10

52W High ₹143.8

Dividend Yield 0%

52W Low ₹ 67.3

Cubex Tubings Share Price

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Volume
Price

Cubex Tubings Quarterly Price

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Cubex Tubings Peer Comparison

Cubex Tubings Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 64 57 50 55 55 73 85 50 74 75
Other Income 1 0 0 0 0 1 0 0 0 2
Total Income 65 57 50 55 56 73 85 50 74 77
Total Expenditure 62 55 48 53 53 70 81 47 70 71
Operating Profit 3 2 2 2 3 3 4 3 4 5
Interest 0 0 1 0 1 1 1 1 1 1
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 2 1 1 1 2 2 3 2 2 4
Provision for Tax 1 0 -0 0 0 0 0 0 1 1
Profit After Tax 1 1 1 1 1 2 2 1 2 3
Adjustments 0 0 0 -0 0 -0 0 -0 -0 0
Profit After Adjustments 1 1 1 1 1 2 2 1 2 3
Adjusted Earnings Per Share 0.9 0.7 0.7 0.6 0.9 1.5 1.6 0.9 1.2 2.2

Cubex Tubings Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 58 52 47 51 75 60 70 134 191 221 267 284
Other Income 1 2 2 2 2 1 1 2 2 2 2 2
Total Income 59 54 49 53 77 61 71 136 193 223 269 286
Total Expenditure 57 52 47 51 74 58 67 131 187 214 257 269
Operating Profit 2 2 2 2 3 3 4 5 6 9 12 16
Interest 0 0 0 0 1 0 1 1 1 2 2 4
Depreciation 2 2 1 1 1 1 1 1 1 1 1 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 0 0 1 1 2 2 4 5 8 11
Provision for Tax 0 0 0 0 0 0 1 0 1 1 1 2
Profit After Tax 0 0 0 0 1 0 1 2 3 4 7 8
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 1 0 1 2 3 4 7 8
Adjusted Earnings Per Share 0.1 0.2 0.2 0.3 0.5 0.3 0.9 1.7 1.9 2.8 4.7 5.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 21% 26% 35% 16%
Operating Profit CAGR 33% 34% 32% 20%
PAT CAGR 75% 52% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 30% 35% 28% 25%
ROE Average 9% 6% 5% 3%
ROCE Average 11% 9% 7% 4%

Cubex Tubings Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 56 56 57 57 58 58 60 62 65 69 76
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 4 3 2 1 0 0 0 0 0 0 4
Other Non-Current Liabilities 1 1 1 1 1 1 1 1 1 2 2
Total Current Liabilities 6 6 8 15 20 19 25 33 31 34 58
Total Liabilities 67 67 68 75 79 79 86 96 97 105 140
Fixed Assets 20 19 18 17 15 17 15 16 15 14 14
Other Non-Current Assets 10 12 11 14 7 9 12 15 15 15 23
Total Current Assets 36 36 39 44 56 54 58 65 67 76 104
Total Assets 67 67 68 75 79 79 86 96 97 105 140

Cubex Tubings Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 3 4 3 3 3 2 2 1 1 1 4
Cash Flow from Operating Activities 3 2 2 4 -0 3 -0 1 0 3 -1
Cash Flow from Investing Activities -0 -0 -0 -1 1 -3 -0 -0 0 1 -2
Cash Flow from Financing Activities -2 -3 -1 -4 -1 -0 -1 -1 -1 -2 1
Net Cash Inflow / Outflow 1 -1 1 -1 -0 1 -1 -0 -0 3 -2
Closing Cash & Cash Equivalent 4 3 3 3 2 3 1 1 1 4 2

Cubex Tubings Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.13 0.21 0.25 0.27 0.46 0.3 0.93 1.7 1.86 2.8 4.67
CEPS(Rs) 1.25 1.27 1.28 1.26 1.41 1.22 1.89 2.66 2.84 3.74 5.52
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 39.36 39.37 39.63 40.07 40.55 40.86 41.8 43.51 45.37 48.48 53.15
Core EBITDA Margin(%) 1.12 0.51 0.13 -0.31 0.69 1.99 3.69 1.64 2.03 2.66 3.09
EBIT Margin(%) 0.82 1.09 1.36 1.74 1.41 1.68 3.13 2.06 2.26 2.81 3.36
Pre Tax Margin(%) 0.69 0.78 0.89 0.93 0.79 1.06 2.37 1.59 1.85 2.05 2.57
PAT Margin (%) 0.3 0.51 0.69 0.73 0.74 0.6 1.62 1.56 1.19 1.54 2.12
Cash Profit Margin (%) 2.83 3.15 3.55 3.4 2.27 2.41 3.3 2.45 1.82 2.06 2.51
ROA(%) 0.29 0.44 0.52 0.54 0.86 0.54 1.61 2.66 2.74 3.95 5.44
ROE(%) 0.34 0.53 0.63 0.67 1.15 0.74 2.26 3.97 4.18 5.96 9.19
ROCE(%) 0.84 1.03 1.14 1.46 1.96 1.9 4.12 4.8 6.74 8.98 10.92
Receivable days 121.51 143.1 176.8 173.54 129.4 168.31 141.92 91.56 64.57 57.6 61.17
Inventory Days 42.65 35.9 34.72 62.85 50.71 78.16 83.58 42.28 32.09 26.44 27.27
Payable days 20.31 30.65 41.27 52.58 59.57 95.97 106.25 59.44 31.97 23.6 27.52
PER(x) 74.27 41.25 44.71 68.53 33.51 30.24 18.6 13.74 14.65 34.05 16.77
Price/Book(x) 0.25 0.22 0.28 0.46 0.38 0.22 0.42 0.54 0.6 1.96 1.47
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.27 0.27 0.38 0.61 0.34 0.27 0.36 0.31 0.27 0.67 0.54
EV/Core EBITDA(x) 7.32 6.47 8.11 13.29 9.91 6.46 6.36 9.19 7.89 17.07 12.17
Net Sales Growth(%) 28.15 -10.02 -9.88 9.07 46.89 -20 17.39 90.11 42.95 15.57 20.98
EBIT Growth(%) 20.91 20.55 11.74 31.08 36.41 -3.29 112.02 24.3 58.16 44.2 45.33
PAT Growth(%) 24.79 54.53 19.88 8.07 72.03 -34.85 209.96 81.74 9.52 50.6 66.99
EPS Growth(%) 24.74 54.55 19.9 8.05 72.03 -34.86 210 81.74 9.51 50.61 66.99
Debt/Equity(x) 0.09 0.08 0.09 0.13 0.1 0.09 0.02 0.16 0.2 0.22 0.44
Current Ratio(x) 6.2 6.05 4.66 2.86 2.77 2.78 2.34 1.98 2.17 2.25 1.77
Quick Ratio(x) 4.98 5.35 4 2.05 2.17 1.81 1.59 1.46 1.46 1.8 1.23
Interest Cover(x) 6.01 3.54 2.89 2.14 2.27 2.7 4.14 4.44 5.51 3.69 4.26
Total Debt/Mcap(x) 0.36 0.36 0.32 0.27 0.26 0.4 0.05 0.29 0.33 0.11 0.3

Cubex Tubings Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 44.42 44.42 44.42 44.42 44.42 44.42 44.42 44.42 44.42 44.42
FII 0 0 0 0 0.05 0 0.18 0.08 0.25 0.19
DII 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36
Public 55.22 55.22 55.22 55.22 55.17 55.22 55.04 55.14 54.97 55.03
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Cubex Tubings News

Cubex Tubings Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend.
  • Promoter holding is low: 44.42%.
  • Company has a low return on equity of 6% over the last 3 years.
  • Debtor days have increased from 23.6 to 27.52days.
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