Cube Highways Trust
Incorporated in 2022, Cube Highways Trust
is registered with SEBI as an Infrastructure Investment Trust for roads assets[1]
- Market Cap ₹ 18,212 Cr.
- Current Price ₹ 136
- High / Low ₹ 142 / 119
- Stock P/E 588
- Book Value ₹ 85.7
- Dividend Yield 4.50 %
- ROCE 3.91 %
- ROE -0.68 %
- Face Value ₹ 100
Pros
Cons
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -15.4%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 0 | 0 | 2,916 | 3,307 | 3,720 | |
| 28 | 28 | 1,705 | 1,073 | 1,102 | |
| Operating Profit | -28 | -28 | 1,211 | 2,234 | 2,618 |
| OPM % | 42% | 68% | 70% | ||
| 0 | 0 | 158 | 146 | 109 | |
| Interest | 0 | 0 | 873 | 1,117 | 1,327 |
| Depreciation | 0 | 0 | 1,183 | 1,313 | 1,382 |
| Profit before tax | -28 | -28 | -687 | -50 | 18 |
| Tax % | 0% | 0% | 3% | -29% | |
| -28 | -28 | -706 | -36 | 31 | |
| EPS in Rs | -5.47 | -0.27 | 0.23 | ||
| Dividend Payout % | 0% | 0% | -207% | -4,223% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -62% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 13% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | -1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Equity Capital | 0.00 | 0.00 | 14,477 | 13,718 |
| Reserves | -29 | -29 | -1,528 | -2,281 |
| 0 | 0 | 10,735 | 15,115 | |
| 29 | 29 | 917 | 1,384 | |
| Total Liabilities | 0 | 0 | 24,601 | 27,936 |
| 0 | 0 | 22,142 | 24,480 | |
| CWIP | 0 | 0 | 114 | 23 |
| Investments | 0 | 0 | 1,353 | 0 |
| 0 | 0 | 993 | 3,433 | |
| Total Assets | 0 | 0 | 24,601 | 27,936 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 0 | 0 | 1,870 | 2,916 | |
| 0 | 0 | -1,033 | -155 | |
| 0 | 0 | -1,224 | -2,186 | |
| Net Cash Flow | 0 | 0 | -387 | 575 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 8 | 18 | ||
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 8 | 18 | ||
| Working Capital Days | -101 | -15 | ||
| ROCE % | 1% | 4% |
Documents
Announcements
-
Reg 23(5)(i): Disclosure of material issue
1d - Cube Highways Trust Investment Manager released OFS notice reflected in BENPOS dated Nov 07, 2025.
-
Reg 23(5)(i): Disclosure of material issue
6 Nov - Board to evaluate converting InvIT to public, offer-for-sale of units, acquisitions and fundraising (Nov 6, 2025).
-
Reg 23(5)(i): Disclosure of material issue
4 Nov - Q2 FY26 investor presentation: INR3.6/unit Q2 distribution, H1 INR6.1/unit, INR8,200mn H1 distributions, AUM INR365.19bn
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Reg 23(5)(i): Disclosure of material issue
30 Oct - Declared INR 3.60/unit distribution (Rs4,838.65m); Q2 results; NAV Rs79.17 book / Rs143 fair.
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Reg 23(5)(i): Disclosure of material issue
30 Oct - InvIT approved Q2 (Sep 30, 2025) financials; declared INR 3.60/unit distribution (record date Nov 04, 2025).
Annual reports
No data available.
Business Overview:[1][2][3]
CHT is an infrastructure investment trust (InvIT) in the roads and highways sector. It is one of the largest InvITs in the road assets sector and operates 25 road assets, including 18 NHAI toll road assets, 1 NHAI annuity, 6 NHAI HAM and one state toll project, with an aggregate length of 1,940 km (8,450 lane kms) spread across12 states, and 27 toll plazas.
Further, the InvIT is acquiring one state toll road project NAMEL by end of FY25.