Cube Highways Trust
Incorporated in 2022, Cube Highways Trust
is registered with SEBI as an Infrastructure Investment Trust for roads assets[1]
- Market Cap ₹ 19,926 Cr.
- Current Price ₹ 148
- High / Low ₹ 152 / 126
- Stock P/E 136
- Book Value ₹ 72.8
- Dividend Yield 9.29 %
- ROCE 6.44 %
- ROE 1.38 %
- Face Value ₹ 100
Pros
- Company is expected to give good quarter
- Promoter holding has increased by 9.98% over last quarter.
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -2.79% over last 3 years.
- Promoters have pledged 50.3% of their holding.
* 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 | Mar 2026 | |
|---|---|---|---|---|---|
| 0 | 0 | 2,916 | 3,307 | 4,239 | |
| 28 | 28 | 1,705 | 1,073 | 1,122 | |
| Operating Profit | -28 | -28 | 1,211 | 2,234 | 3,117 |
| OPM % | 42% | 68% | 74% | ||
| 0 | 0 | 158 | 146 | 118 | |
| Interest | 0 | 0 | 873 | 1,117 | 1,465 |
| Depreciation | 0 | 0 | 1,183 | 1,313 | 1,444 |
| Profit before tax | -28 | -28 | -687 | -50 | 325 |
| Tax % | 0% | 0% | 3% | -29% | 33% |
| -28 | -28 | -706 | -36 | 217 | |
| EPS in Rs | -5.47 | -0.27 | 1.61 | ||
| Dividend Payout % | 0% | 0% | -207% | -4,223% | 222% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 28% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 94% |
| TTM: | 194% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 24% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -3% |
| Last Year: | 1% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.00 | 0.00 | 14,477 | 13,718 | 13,440 |
| Reserves | -29 | -29 | -1,528 | -2,281 | -3,657 |
| 0 | 0 | 10,735 | 15,115 | 17,665 | |
| 29 | 29 | 917 | 1,384 | 1,905 | |
| Total Liabilities | 0 | 0 | 24,601 | 27,936 | 29,353 |
| 0 | 0 | 22,142 | 24,480 | 23,337 | |
| CWIP | 0 | 0 | 114 | 23 | 11 |
| Investments | 0 | 0 | 1,353 | 0 | 500 |
| 0 | 0 | 993 | 3,433 | 5,505 | |
| Total Assets | 0 | 0 | 24,601 | 27,936 | 29,353 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 0 | 0 | 1,870 | 2,916 | 3,803 | |
| 0 | 0 | -1,033 | -155 | -271 | |
| 0 | 0 | -1,224 | -2,186 | -3,869 | |
| Net Cash Flow | 0 | 0 | -387 | 575 | -337 |
| Free Cash Flow | 0 | 0 | 1,359 | 2,735 | 3,742 |
| CFO/OP | 0% | 0% | 157% | 131% | 124% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 8 | 18 | 19 | ||
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 8 | 18 | 19 | ||
| Working Capital Days | -101 | -15 | 53 | ||
| ROCE % | 1% | 4% | 6% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Major Maintenance Expenses (WUPTPL) INR million ・Standalone data |
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| Major Maintenance Expenses (JMTPL) INR million ・Standalone data |
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| Major Maintenance Expenses (DATRPL) INR million ・Standalone data |
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| Aggregate Road Length km |
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| Lane Configuration Capacity lane kms |
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| Number of Toll Operational SPVs Nos |
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Extracted by Screener AI
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
28 May - Cube InvIT released Q4 FY26 investor call transcript, detailing acquisitions, public InvIT filing, and ₹3.57 distribution.
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Reg 23(5)(i): Disclosure of material issue
27 May - Cube Highways Trust issued revised Q4FY26 investor presentation, correcting Debt/EBITDA to 4.21x and revenue growth to 8.8%.
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Reg 23(5)(i): Disclosure of material issue
27 May - Board approved EY LLP as internal auditor and EY Merchant Banking Services LLP as valuer for FY 2026-27.
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Reg 23(5)(i): Disclosure of material issue
26 May - Cube Highways Trust released Q4 FY26 investor presentation; AUM rose 14%, DPU was INR 13.77.
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Reg 23(5)(i): Disclosure of material issue
23 May - Investor call with management on May 27, 2026, to discuss Q4FY26 and FY26 financials.
Annual reports
No data available.
Concalls
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May 2026Transcript PPT
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Feb 2026Transcript PPT
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 27 road assets, including 18 NHAI toll road assets, 3 NHAI annuity assets and 6 NHAI HAM, with an aggregate length of 2,021 km (8,819 lane kms) spread across 12 states and 1 UT , and 27 toll plazas. The average operating history of the portfolio is 8.8 years. Average residual concession years is 18.2 years. AUM of Rs. 365 billion with toll AUM 85% and annuity AUM 15%.