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Cube Highways Trust

CUBEINVIT NSE
₹151.92 No trade today
P/E
73.75
View as Markdown
MCP
Close 4 Nov 2026 ₹151.92 +16.45 +12.1% 1Y
Start ₹135.47

Key Fundamentals

SmallcapTransport InfrastructureServices

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
6.44%
Debt to Equity
1.81
EPS (TTM)
₹2.06
Book Value
₹65.79
Market Cap
—
P/E (TTM)
73.75
P/B
2.31
ROE
1.38%
Dividend Yield
5.11%
EBITDA
—
52W High
₹165.00
52W Low
₹131.00
Volume
0

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

59 Good

Data confidence 95/100

Category scores

Quality
85
Strong
Returns, margins, earnings quality 22% weight
Valuation
47
Average
Cheap vs sector & own history 24% weight
Growth
67
Strong
Sales & profit trajectory 9% weight
Financial Health
15
Poor
Solvency, leverage, coverage 9% weight
Momentum
61
Good
Trend strength, vol-adjusted 12% weight
Ownership
65
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

3
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -2.54% over last 3 years.
  • Promoters have pledged 50.3% of their holding.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1063
OscillatorsBearish261
Moving AveragesStrong Bearish802

Key readings

RSI (14)
37.95
Neutral
MACD (12,26,9)
−0.93
Bearish
SMA (50)
155.10
Bearish
SMA (200)
147.62
Bullish

As of

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
3YZero base
1Y+28.18%
TTM+27.80%

Net profit

Net profit growth by window
3YTurned to profit
1YTurned to profit
TTMTurned to profit

Operating cash flow

Operating cash flow growth by window
3YZero base
1Y+30.42%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
3YNo sales
1Y+5.98 pp
TTM+4.51 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2022₹0.00 Cr
Mar 2023₹0.00 Cr
Mar 2024₹2,916 Cr
Mar 2025₹3,307 Cr
Mar 2026₹4,239 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2022−₹28.00 Cr
Mar 2023−₹28.00 Cr
Mar 2024−₹706 Cr
Mar 2025−₹36.00 Cr
Mar 2026₹217 Cr

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk high

Cube Highways Trust trades at ₹150.93 with a market cap of ₹20,467.49 crore as of 2026-10-30. The trust offers a dividend yield of 5.15% but carries a debt-to-equity ratio of 1.81 and a low ROE of 2.22%, reflecting a mix of income appeal and leverage-related concerns.

Bull Case 6
  • TTM compounded profit growth of 808% signals a sharp earnings recovery, indicating improving toll collections or operational efficiencies across the highway portfolio.
  • TTM compounded sales growth of 28% reflects healthy revenue expansion, likely driven by traffic volume increases and periodic toll rate revisions.
  • 3-year compounded profit growth of 94% demonstrates a sustained upward trajectory in profitability beyond just a single-period spike.
  • Stock price CAGR of 15% over 3 years and 13% over 1 year shows consistent capital appreciation alongside dividend distributions.
  • Trading at ₹150.93 against a 52-week low of ₹131, the unit price is well above its recent trough, suggesting sustained investor confidence.
  • ROCE of 6.4% is reasonable for an infrastructure trust model where assets generate predictable cash flows under long-term concession agreements.
Bear Case 8
  • Promoters have pledged 50.3% of their holding, a significant level that creates overhang risk and could lead to forced selling if asset values decline.
  • Debt-to-equity ratio of 1.81 indicates heavy leverage, which amplifies interest rate sensitivity and leaves limited balance sheet flexibility.
  • Low interest coverage ratio flags the risk that operating cash flows may be insufficient to comfortably service debt obligations during periods of traffic disruption.
  • ROE of just 2.22% as of 2026-10-30 and a negative 3-year average ROE of -3% indicate the trust has struggled to generate adequate returns on equity capital.
  • PE ratio of 73.27 on a TTM EPS of ₹2.06 is elevated, suggesting that current earnings are thin relative to unit price despite the headline profit growth.
  • Price-to-book ratio of 2.29 means unitholders are paying a meaningful premium over the book value of the underlying highway assets.
  • Last year ROE of just 1% shows that even the most recent period's profitability improvement has not yet translated into meaningful equity returns.
  • Trading at ₹150.93 versus a 52-week high of ₹165, the unit price is about 8.5% below its peak, indicating some loss of upward momentum.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Limited recent news flow for Cube Highways Trust, with only a routine earnings call announcement for Q2FY27 on October 29. No material headwinds or positive catalysts emerged in the period. Investors should watch the upcoming results call for updates on toll collection trends and distribution guidance.

Neutral 1
  • Q2FY27 results call scheduled Oct 22

    Cube Highways Trust scheduled an investor call for October 29, 2026 to discuss Q2FY27 and H1FY27 financial results for the period ended September 30, 2026.

Quarterly Results

₹ Cr
CUBEINVIT quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
781
729
753
798
792
820
850
846
944
1,052
1,081
1,162
1,127
Expenses
359
982
231
133
257
268
243
306
272
281
310
261
338
Operating Profit
422
−253
522
665
535
552
607
540
672
770
771
901
788
OPM %
54%
−35%
69%
83%
68%
67%
71%
64%
71%
73%
71%
78%
70%
Other Income
1
5
3
5
39
38
36
32
30
40
24
27
30
Interest
192
235
219
228
251
287
280
299
345
402
366
352
365
Depreciation
249
315
312
307
316
324
334
339
358
350
377
359
366
PBT
−18
−798
−6
135
8
−21
28
−66
−2
58
52
217
87
Tax %
13%
−1%
135%
10%
51%
45%
−85%
−6%
−130%
30%
21%
38%
30%
Net Profit
−20
−793
−14
122
4
−30
52
−62
0
40
41
135
61
EPS (₹)
−0.16
−6.15
−0.11
0.94
0.03
−0.22
0.39
−0.46
0
0.3
0.31
1
0.45

Profit & Loss

₹ Cr
CUBEINVIT profit and loss, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
0
0
2,916
3,307
4,239
4,421
Expenses
28
28
1,705
1,073
1,122
1,190
Operating Profit
−28
−28
1,211
2,234
3,117
3,231
OPM %
—
—
42%
68%
74%
73%
Other Income
0
0
158
146
118
121
Interest
0
0
873
1,117
1,465
1,485
Depreciation
0
0
1,183
1,313
1,444
1,453
PBT
−28
−28
−687
−50
325
414
Tax %
0%
0%
3%
−29%
33%
—
Net Profit
−28
−28
−706
−36
217
277
EPS (₹)
—
—
−5.47
−0.27
1.61
2.06
Div. Payout %
0%
0%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
222%
—

Balance Sheet

₹ Cr
CUBEINVIT balance sheet, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0
0
14,477
13,718
13,440
Reserves
−29
−29
−1,528
−2,281
−3,657
Borrowings
0
0
10,735
15,115
17,665
Other Liabilities
29
29
917
1,384
1,905
Total Liabilities
0
0
24,601
27,936
29,353
Fixed Assets
0
0
22,142
24,480
23,337
CWIP
0
0
114
23
11
Investments
0
0
1,353
0
500
Other Assets
0
0
993
3,433
5,505
Total Assets
0
0
24,601
27,936
29,353

Cash Flow

₹ Cr
CUBEINVIT cash flow, annual, ₹ crore
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0
0
1,870
2,916
3,803
Investing
0
0
−404
−155
−271
Financing
0
0
−1,224
−2,186
−3,869
Net Cash Flow
0
0
242
575
−337
Free Cash Flow
0
0
1,359
2,735
3,742
CFO/EBITDA
0
0
157
131
124

Ratios

CUBEINVIT financial ratios, annual
Particulars Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
—
—
8
18
19
Cash Conversion Cycle
—
—
8
18
19
Working Capital Days
—
—
−101
−15
53
ROCE %
—
—
1%
4%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Cube Highways Trust insights

31 extracted metrics across FY22–FY27.

Shareholding Pattern

As of Sep 2026

  • Others 51.74%
  • DIIs 20.07%
  • Promoters 18.64%
  • Public 9.55%

50.26% of promoter holding pledged as of 14 Oct 2026

Change since Jun 2026

Documents

Frequently Asked Questions about Cube Highways Trust

What does Cube Highways Trust do?
Incorporated in 2022, Cube Highways Trust is registered with SEBI as an Infrastructure Investment Trust for roads assets
Where is Cube Highways Trust (CUBEINVIT) listed?
Cube Highways Trust trades as CUBEINVIT on the NSE and under code 543899 on the BSE.
Which sector does Cube Highways Trust belong to?
Cube Highways Trust is classified under the Services sector, in the Transport Infrastructure industry.
What is the PE ratio of Cube Highways Trust?
Cube Highways Trust trades at a PE ratio of 73.75 as of 4 Nov 2026, on earnings per share of ₹2.06, against a book value of ₹65.79 per share.
What is the 52-week high and low of Cube Highways Trust?
Over the last 52 weeks Cube Highways Trust has traded between ₹131 and ₹165 as of 4 Nov 2026.
Does Cube Highways Trust pay dividends?
Cube Highways Trust has a dividend yield of 5.11%.
What is the Return on Equity (ROE) of Cube Highways Trust?
Cube Highways Trust reported a return on equity of 1.38%. Its debt-to-equity ratio is 1.81.

Company Information

Incorporated in 2022, Cube Highways Trust is registered with SEBI as an Infrastructure Investment Trust for roads assets

Listed 19 Apr 2023
Face Value ₹100

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