| Metric | Value (₹ Cr) | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Revenue | 82.99 | 27.7% | 12.6% |
| Total Income | 83.58 | 25.2% | 12.7% |
| Expenditure | 77.37 | 19.2% | 7.9% |
| PBT | 6.22 | 234.6% | 152.7% |
| Net Profit | 4.57 | 246.3% | 161.9% |
| OPM | 8.62% | 6.45pp | 4.20pp |
| NPM | 5.46% | 3.49pp | 3.11pp |
| EPS | 3.19 | 246.7% | 161.5% |
Revenue growth of 12.6% YoY with strong margin expansion (OPM 4.42%→8.62%, NPM 2.35%→5.46%) drove PAT up sharply, but the steep 162% PAT growth is partly off a thin profit base so this is healthy rather than a top-tier standout for the metals sector.
Cubex Tubings Q2 FY27: EBITDA up 119% to ₹7.2 Cr, PAT up 162%
24 Oct 2026 · 24 Oct, 3:00 pm
Summary
Cubex Tubings Limited announced strong unaudited financial results for the second quarter and half year ended 30 September 2026. The company reported a significant step-up in revenue and profitability, with revenue from operations growing 28% quarter-on-quarter to ₹82.99 crore. EBITDA more than doubled, rising 408% year-on-year to ₹7.15 crore, accompanied by an improved EBITDA margin of 8.6%. Profit after tax also saw a substantial increase of 235% quarter-on-quarter. Management highlighted growth in the established copper alloy business and an improved mix towards higher-value seamless products as key drivers, with a focus on execution, order delivery, and working capital discipline for the remainder of the year.
Key Highlights
- 1
Cubex Tubings Limited reported a sharp step-up in revenue and profitability for Q2 FY27, with growth across its core copper alloy range.
- 2
Revenue from operations for Q2 FY27 stood at ₹82.99 crore, an increase of 28% quarter-on-quarter.
- 3
EBITDA for Q2 FY27 surged by 408% year-on-year to ₹7.15 crore, with an improved EBITDA margin of 8.6%.
- 4
Profit after tax for Q2 FY27 saw a significant increase of 235% quarter-on-quarter, reaching ₹4.57 crore.
- 5
Annualised return on equity for H1 FY27 improved to 13.7% from 8.9% in FY26, and annualised return on capital employed rose to 15.8% from 10.7%.
- 6
The company secured orders aggregating ₹81.27 crore during H1 FY27 across multiple sectors, indicating strong business momentum.
Management Comments
Virendra Bhandari
The second quarter reflects the two things we set out to do this year: grow volumes in our established copper alloy business and improve the mix towards higher-value seamless products. Revenue grew 28%, EBITDA more than doubled and profit after tax rose 235%, with EBITDA margin expanding to 8.6%. This shows that the pass-through pricing structure and tighter cost control are working even in a volatile copper environment. Cubex has built its reputation on making products India previously imported, from 70/30 cupronickel tube to oxygen-free copper for atomic energy and Monel 400 to 200 mm diameter. That capability is what customers in power, naval and nuclear programmes pay for, and it is where we continue to invest. The Board has also approved a ₹75 crore preferential issue of warrants, with the promoter group subscribing to the larger part of it, to fund the next stage of our alloy capability. Our focus for the rest of the year remains on execution: order delivery, quality and working capital discipline.
Informational and educational content only. Not investment advice.