Cubex Tubings Limited has informed the Exchange regarding Board meeting held on May 15, 2025.
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On the reaction day the stock moved 5.5 pts more than Nifty Microcap 250 and 4.2 pts more than its Aluminium Copper & Zinc Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Cubex Tubings reported strong FY25 results with net sales rising about 21% to ₹26,712 lakhs from ₹22,079 lakhs a year earlier. Profit after tax jumped around 67% to ₹665.86 lakhs (₹398.74 lakhs last year), taking EPS to ₹4.65 versus ₹2.78. Q4 alone was even sharper, with sales up nearly 69% and PAT up about 127% year-on-year. The board also noted the Annual Secretarial Audit Report and approved a major capacity expansion plan involving new vacuum melting furnaces to make special steels, nickel, and titanium alloys for defence, aerospace, and electronics customers. Funding mode for the capex is yet to be finalized. Operating cash flow, however, turned negative at ₹-77.60 lakhs versus ₹+343.43 lakhs last year, as inventory and receivables ballooned alongside higher short-term borrowings.
Positive earnings momentum and a clear capex pipeline for high-value alloys are supportive signals, but rising working-capital needs and negative operating cash flow despite higher profits warrant attention on cash quality and the eventual funding mix for expansion.