Cube Highways Trust
Incorporated in 2022, Cube Highways Trust
is registered with SEBI as an Infrastructure Investment Trust for roads assets[1]
- Market Cap ₹ 20,540 Cr.
- Current Price ₹ 153
- High / Low ₹ 165 / 131
- Stock P/E 74.1
- Book Value ₹ 72.8
- Dividend Yield 2.58 %
- ROCE 6.44 %
- ROE 1.38 %
- Face Value ₹ 100
Pros
Cons
- 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.
* 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 | TTM | |
|---|---|---|---|---|---|---|
| 0 | 0 | 2,916 | 3,307 | 4,239 | 4,421 | |
| 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% | ||
| 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 |
| Profit before tax | -28 | -28 | -687 | -50 | 325 | 414 |
| Tax % | 0% | 0% | 3% | -29% | 33% | |
| -28 | -28 | -706 | -36 | 217 | 277 | |
| EPS in Rs | -5.47 | -0.27 | 1.61 | 2.06 | ||
| 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: | 808% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| 1 Year: | 13% |
| 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 | -404 | -155 | -271 | |
| 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 Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 0% | 0% | 157% | 131% | 124% |
Ratios
Consolidated / 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 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Assets Under Management (AUM) INR Bn |
|
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| Number of Assets in Portfolio count |
|||
| Average Daily Collection INR Mn per day |
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| Average Residual Concession Life years |
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| Electronic Toll Collection (ETC) Share % |
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| FASTag Annual Pass Adoption Rate % |
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| Lane Kilometers lane km |
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| Portfolio Traffic Growth (YoY in PCU terms) % |
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Extracted by Screener AI
Documents
Announcements
-
Reg 23(5)(i): Disclosure of material issue
- Investor call on October 29, 2026 at 4:00 PM IST for Q2FY27 results discussion.
-
Reg 23(5)(i): Disclosure of material issue
- Audit Committee and Board meet October 28, 2026; Q2/H1 FY26 financials and distribution may be approved.
-
Reg 26K: Quarterly Compliance Report on Corporate governance
- Submitted corporate governance compliance report for quarter ended September 30, 2026.
-
Investor Complaints
- Investor complaints statement for quarter ended September 30, 2026; zero complaints pending, received, or resolved.
-
Reg 23(5)(i): Disclosure of material issue
- Board approved in-principle preferential unit issue to fund acquisitions of Devanahalli, Western MP and Chenani Nashri assets.
Annual reports
No data available.
Concalls
-
Aug 2026Transcript PPT
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May 2026Transcript PPT
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Feb 2026Transcript PPT
Business Overview:[1]
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 2,005 km (8,754 lane
kms) spread across 12 states and 1 UT, and
27 toll plazas. The average operating history
of the portfolio is 9.2 years. Average residual concession years is 18 years. AUM of Rs. 368.42 billion with toll AUM 85% and annuity AUM 15%.