AUDTIED RESULTS FOR THE QUARTER AND YEAR ENDED 31.03.2026
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Cubex Tubings reported annual revenue of Rs 28,800.55 lakhs (FY26) vs Rs 26,712.03 lakhs (FY25), representing 7.8% revenue growth. Net profit increased to Rs 745.39 lakhs from Rs 665.86 lakhs, an 11.9% improvement. EPS improved from Rs 4.65 to Rs 5.21. The auditors issued an un-modified (clean) opinion on the financial statements. However, the balance sheet shows significant concerns: inventories nearly tripled from Rs 3,151.60 lakhs to Rs 8,810.60 lakhs, and trade payables surged from Rs 2,357.72 lakhs to Rs 7,273.25 lakhs. Operating cash flow turned positive at Rs 528.65 lakhs from negative Rs 77.60 lakhs previously.
Positive profit growth and clean audit opinion are encouraging, but the sharp jump in inventories and payables raises concerns about working capital management and potential future write-downs or margin pressure if sales do not absorb the inventory buildup.