Cube Highways Trust
Incorporated in 2022, Cube Highways Trust
is registered with SEBI as an Infrastructure Investment Trust for roads assets[1]
- Market Cap ₹ 16,547 Cr.
- Current Price ₹ 124
- High / Low ₹ 125 / 100
- Stock P/E 14.3
- Book Value ₹ 109
- Dividend Yield %
- ROCE 9.57 %
- ROE 4.84 %
- Face Value ₹
Pros
- Stock is trading at 1.14 times its book value
Cons
- Working capital days have increased from -75.0 days to 73.6 days
* 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.
Peer comparison
Sector: Infrastructure Investment Trusts Industry: Construction
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|
| 1,327 | 1,629 | 2,055 | 0 | 1,885 | 2,109 | |
| 532 | 750 | 1,113 | 28 | 715 | -51 | |
| Operating Profit | 795 | 878 | 942 | -28 | 1,169 | 2,160 |
| OPM % | 60% | 54% | 46% | 62% | 102% | |
| 62 | 376 | 102 | 0 | 12 | 0 | |
| Interest | 684 | 1,042 | 1,394 | 0 | 829 | 998 |
| Depreciation | 326 | 378 | 549 | 0 | 0 | 0 |
| Profit before tax | -152 | -165 | -899 | -28 | 353 | 1,162 |
| Tax % | -12% | 46% | -8% | 0% | 1% | |
| -134 | -241 | -825 | -28 | 348 | 1,157 | |
| EPS in Rs | 2.70 | 8.85 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| 3 Years: | 5% |
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| Compounded Profit Growth | |
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| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 40% |
| TTM: | 1316% |
| Stock Price CAGR | |
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| Return on Equity | |
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| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Equity Capital | 734 | 779 | 852 | 0.00 | 14,477 |
| Reserves | 252 | -488 | -868 | -29 | -475 |
| 6,040 | 12,369 | 13,024 | 0 | 10,515 | |
| 1,538 | 3,315 | 2,472 | 29 | 23 | |
| Total Liabilities | 8,565 | 15,976 | 15,481 | 0 | 24,540 |
| 6,401 | 12,165 | 11,995 | 0 | 0 | |
| CWIP | 971 | 1,044 | 726 | 0 | 0 |
| Investments | 22 | 116 | 0 | 0 | 10,324 |
| 1,170 | 2,651 | 2,759 | 0 | 14,216 | |
| Total Assets | 8,565 | 15,976 | 15,481 | 0 | 24,540 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 895 | 1,356 | 863 | 0 | -68 | |
| -335 | -6,193 | -276 | 0 | -12,642 | |
| -661 | 5,366 | 183 | 0 | 12,711 | |
| Net Cash Flow | -100 | 530 | 770 | 0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Debtor Days | 18 | 17 | 13 | 0 | |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 18 | 17 | 13 | 0 | |
| Working Capital Days | -224 | -354 | -224 | 74 | |
| ROCE % | 6% | 4% | -0% | 10% |
Documents
Announcements
-
Reg 23(5)(i): Disclosure of material issue
1d - Cube Highways Trust issues ₹600 crore in bonds.
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Reg 23(5)(i): Disclosure of material issue
2d - Allotment of 60,000 redeemable non-convertible debt securities.
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Reg 23(5)(d): Disclosure of details of any credit rating obtained by the InvIT and any change in such rating
14 Feb - Credit ratings received for Cube Highways Trust.
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Reg 23(5)(i): Disclosure of material issue
13 Feb - Cube Highways Trust issues India's first sustainability-linked bond.
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Reg 23(5)(i): Disclosure of material issue
12 Feb - Cube Highways Trust acquires 100% of N.A.M. Expressway for INR 717.60 Crores.
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.