Cubex Tubings Ltd

About [ edit ]

Cubex Tubings Limited is engaged in offering copper and copper alloys. The Company is a manufacturer of seamless solid drawn tubes, rods, bus bars and wires of copper and copper-based alloys, such as cupronickel, admiralty Brass and Aluminum Brass.

  • Market Cap 32.6 Cr.
  • Current Price 22.8
  • High / Low 22.8 / 8.15
  • Stock P/E 44.1
  • Book Value 40.9
  • Dividend Yield 0.00 %
  • ROCE 1.91 %
  • ROE 0.74 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.56 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 0.78% over past five years.
  • Company has a low return on equity of 0.85% for last 3 years.
  • Company has high debtors of 174.03 days.
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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
15.57 15.99 18.08 21.09 19.70 12.91 14.51 20.02 12.69 9.18 21.49 20.04
16.15 15.57 17.85 20.50 20.39 12.48 14.20 19.47 12.35 8.77 20.78 19.42
Operating Profit -0.58 0.42 0.23 0.59 -0.69 0.43 0.31 0.55 0.34 0.41 0.71 0.62
OPM % -3.73% 2.63% 1.27% 2.80% -3.50% 3.33% 2.14% 2.75% 2.68% 4.47% 3.30% 3.09%
Other Income 1.17 0.20 0.28 0.26 1.26 0.17 0.28 0.00 0.40 0.23 0.00 0.00
Interest 0.10 0.12 0.13 0.14 0.11 0.09 0.12 0.10 0.10 0.12 0.15 0.12
Depreciation 0.27 0.35 0.35 0.35 0.29 0.34 0.34 0.34 0.29 0.33 0.33 0.33
Profit before tax 0.22 0.15 0.03 0.36 0.17 0.17 0.13 0.11 0.35 0.19 0.23 0.17
Tax % 40.91% 20.00% -66.67% 16.67% -11.76% 5.88% 115.38% 81.82% 11.43% 57.89% 13.04% 11.76%
Net Profit 0.13 0.12 0.05 0.30 0.19 0.16 -0.01 0.02 0.30 0.08 0.20 0.16
EPS in Rs 0.09 0.08 0.03 0.21 0.13 0.11 -0.01 0.01 0.21 0.06 0.14 0.11
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
49.25 64.31 51.64 57.07 38.22 44.85 57.61 51.84 45.51 50.96 74.86 59.88 63.40
51.12 62.05 49.30 55.24 37.46 45.44 56.88 51.54 45.45 51.12 74.25 58.44 61.32
Operating Profit -1.87 2.26 2.34 1.83 0.76 -0.59 0.73 0.30 0.06 -0.16 0.61 1.44 2.08
OPM % -3.80% 3.51% 4.53% 3.21% 1.99% -1.32% 1.27% 0.58% 0.13% -0.31% 0.81% 2.40% 3.28%
Other Income 1.76 1.20 0.33 0.44 1.38 2.94 1.39 1.85 2.10 2.49 1.99 1.08 0.63
Interest 0.08 0.08 0.14 0.14 0.08 0.09 0.09 0.18 0.24 0.43 0.55 0.45 0.49
Depreciation 1.03 1.21 1.34 1.48 1.74 1.93 1.59 1.52 1.47 1.41 1.35 1.31 1.28
Profit before tax -1.22 2.17 1.19 0.65 0.32 0.33 0.44 0.45 0.45 0.49 0.70 0.76 0.94
Tax % 3.28% 13.82% 21.01% 47.69% 90.62% 54.55% 54.55% 35.56% 24.44% 20.41% 5.71% 43.42%
Net Profit -1.18 1.87 0.94 0.34 0.02 0.15 0.19 0.30 0.35 0.38 0.66 0.43 0.74
EPS in Rs -1.59 2.52 1.27 0.29 0.02 0.10 0.13 0.21 0.24 0.27 0.46 0.30 0.52
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years:-1%
5 Years:1%
3 Years:10%
TTM:-6%
Compounded Profit Growth
10 Years:-14%
5 Years:17%
3 Years:7%
TTM:106%
Stock Price CAGR
10 Years:6%
5 Years:22%
3 Years:-2%
1 Year:35%
Return on Equity
10 Years:1%
5 Years:1%
3 Years:1%
Last Year:1%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
7.35 7.35 7.35 11.85 11.85 14.26 14.26 14.26 14.26 14.26 14.26 14.26 14.26
Reserves 32.97 34.84 35.80 38.67 38.70 42.19 41.92 42.22 42.57 42.96 43.61 44.04 44.32
Borrowings 5.76 5.68 5.85 5.59 5.44 5.50 5.15 4.40 5.08 7.18 5.69 5.15 6.27
1.97 2.91 2.40 6.79 7.58 4.20 5.85 5.90 6.54 10.17 15.48 15.37 23.13
Total Liabilities 48.05 50.78 51.40 62.90 63.57 66.15 67.18 66.78 68.45 74.57 79.04 78.82 87.98
12.70 15.18 15.47 22.39 24.21 22.11 20.15 18.81 17.51 16.73 15.49 16.59 16.10
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
35.35 35.60 35.93 40.51 39.36 44.04 47.03 47.97 50.94 57.84 63.55 62.23 71.88
Total Assets 48.05 50.78 51.40 62.90 63.57 66.15 67.18 66.78 68.45 74.57 79.04 78.82 87.98

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1.94 3.91 4.63 -2.75 6.02 -2.28 2.58 1.57 2.19 3.61 -0.23 2.73
-2.52 -3.70 -1.64 -8.35 -3.56 0.12 -0.11 -0.17 -0.28 -0.59 1.32 -2.58
-0.51 0.20 0.03 9.36 -1.47 1.68 -1.88 -2.55 -1.28 -3.86 -1.40 -0.27
Net Cash Flow -1.09 0.41 3.02 -1.74 0.99 -0.48 0.58 -1.16 0.63 -0.84 -0.30 -0.13

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % -2.43% 4.79% 2.75% 1.43% 0.71% 0.80% 0.89% 1.03% 1.12% 1.46% 1.95% 1.91%
Debtor Days 90.94 111.75 121.86 140.83 156.24 173.26 130.77 172.43 202.51 178.13 184.84 174.03
Inventory Turnover 5.27 7.86 6.61 8.55 5.35 5.14 6.91 8.20 8.46 5.26 5.60 3.45

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
44.42 44.42 44.42 44.42 44.41 44.42 44.42 44.42 44.42 44.42 44.42 44.42
0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32 0.32
0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
55.22 55.22 55.22 55.22 55.23 55.22 55.22 55.22 55.22 55.22 55.22 55.22

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