CESC

₹140.9 3.3 | 2.4%

WEBSITE BSE:500084 NSE : CESC LTD. 05 Feb, 10:15

Market Cap ₹18671 Cr.

Stock P/E 12.9

P/B 1.5

Current Price ₹140.9

Book Value ₹ 93.3

Face Value 1

52W High ₹212.7

Dividend Yield 3.19%

52W Low ₹ 109.7

Edit Ratio

CESC Research see more...

Overview Inc. Year: 1978Industry: Power Generation/Distribution

CESC Ltd is an primarily India-based organisation, that is typically engaged in the generation and distribution of electricity. Its operation spanning the value chain from mining coal, generating power and distribution of energy. Its corporations include Kolkata operations in addition to other generation and distribution ventures. Its Kolkata operations consist of distribution of electricity, with its personal generation facilities, across its certified vicinity in Kolkata, Howrah, Hooghly, North and South 24 Parganas, West Bengal. Its generation initiatives include operational thermal and renewables tasks with a cumulative generation ability of about 800 megawatts (MW), which can be owned and operated via its subsidiaries. It has distribution license for Greater Noida, Uttar Pradesh; about three distribution franchisees (DFs) in Kota, Bharatpur and Bikaner in Rajasthan; and its new DF in Malegaon, Maharashtra. Its subsidiaries comprises Haldia Energy Ltd and Surya Vidyut Ltd, amongst others.

CESC Share Price

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Peer Comparison

CESC Quarterly Results

#(Fig in Cr.)	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Net Sales	3913	3129	3102	4310	4352	3244	3387	4863	4700	3561
Other Income	64	95	106	59	62	57	73	55	70	96
Total Income	3977	3224	3208	4369	4414	3301	3460	4918	4770	3657
Total Expenditure	3066	2302	2148	3322	3345	2338	2405	3803	3685	2651
Operating Profit	911	922	1060	1047	1069	963	1055	1115	1085	1006
Interest	274	289	289	308	305	296	325	322	328	339
Depreciation	221	219	221	300	303	303	311	301	295	305
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	416	414	550	439	461	364	419	492	462	362
Provision for Tax	97	78	105	71	98	63	4	104	89	80
Profit After Tax	319	336	445	368	363	301	415	388	373	282
Adjustments	-14	-17	-12	-21	-15	-20	-15	-10	-20	-17
Profit After Adjustments	305	319	433	347	348	281	400	378	353	265
Adjusted Earnings Per Share	2.3	2.4	3.3	2.6	2.6	2.1	3	2.8	2.7	2

CESC Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	10111	11067	12124	8363	10275	10664	12159	11632	12544	14246	15293	16511
Other Income	185	160	265	300	284	224	263	294	291	309	251	294
Total Income	10296	11227	12389	8664	10559	10888	12422	11926	12835	14555	15544	16805
Total Expenditure	8422	9095	9048	5585	7267	7761	8952	8391	9524	11973	13025	12544
Operating Profit	1875	2132	3342	3079	3292	3127	3470	3534	3311	2582	2519	4261
Interest	645	1045	1593	1482	1411	1432	1484	1340	1248	1241	1377	1314
Depreciation	471	589	766	715	751	764	848	867	885	878	1217	1212
Exceptional Income / Expenses	0	0	-4	46	67	893	630	424	737	1276	1757	0
Profit Before Tax	758	498	1042	976	1246	1893	1768	1752	1915	1739	1683	1735
Provision for Tax	186	199	313	321	356	695	459	389	511	342	236	277
Profit After Tax	573	299	729	655	890	1198	1309	1363	1404	1397	1447	1458
Adjustments	-81	-100	-131	36	22	-14	-42	-32	-46	-55	-71	-62
Profit After Adjustments	492	199	598	691	913	1184	1267	1331	1358	1343	1376	1396
Adjusted Earnings Per Share	3.9	1.5	4.5	5.2	6.9	8.9	9.6	10	10.2	10.1	10.4	10.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	7%	10%	7%	4%
Operating Profit CAGR	-2%	-11%	-4%	3%
PAT CAGR	4%	2%	4%	10%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-1%	19%	14%	8%
ROE Average	13%	13%	14%	11%
ROCE Average	12%	12%	13%	12%

CESC Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	5635	6029	10604	10623	8420	8974	9412	9873	10396	10910	11446
Minority's Interest	908	1000	1092	1210	69	82	365	396	434	479	540
Borrowings	9132	10123	10451	11590	11048	10225	9760	10899	10577	9569	10856
Other Non-Current Liabilities	3723	4100	5529	5483	5721	6158	6967	7158	7251	7370	7381
Total Current Liabilities	5267	6375	8747	8559	7728	8030	8954	7536	8834	9384	6945
Total Liabilities	24666	27628	36422	37465	32986	33470	35457	35862	37493	37712	37168
Fixed Assets	14511	20869	26500	26570	23798	23593	24677	24135	23153	22763	22068
Other Non-Current Assets	6156	1676	1578	1564	1184	1156	639	637	865	802	968
Total Current Assets	3992	5078	8323	9331	8005	8722	10141	11089	13476	14147	14132
Total Assets	24666	27628	36422	37465	32986	33470	35457	35862	37493	37712	37168

CESC Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	1317	1210	773	853	1255	632	539	1262	840	2153	1129
Cash Flow from Operating Activities	2251	889	2480	2655	2469	2294	3408	2806	2499	1978	2351
Cash Flow from Investing Activities	-3180	-2441	-1220	-1493	-1230	-687	-466	-1489	-575	-545	-564
Cash Flow from Financing Activities	822	1331	-1181	-760	-1485	-1737	-2219	-1739	-611	-2457	-1642
Net Cash Inflow / Outflow	-107	-220	80	402	-247	-130	723	-423	1313	-1024	146
Closing Cash & Cash Equivalent	1210	1049	853	1255	632	503	1262	840	2153	1129	1275

CESC Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	3.94	1.5	4.51	5.21	6.88	8.93	9.56	10.04	10.24	10.13	10.38
CEPS(Rs)	8.36	6.7	11.28	10.33	12.38	14.8	16.27	16.82	17.27	17.16	20.1
DPS(Rs)	0.8	0.9	1	1	1.2	1.75	2	4.5	4.5	4.5	4.5
Book NAV/Share(Rs)	37.35	39.02	79.77	80.04	63.51	67.69	70.99	74.47	78.42	82.3	86.34
Core EBITDA Margin(%)	16.71	17.82	25.38	33.22	29.27	27.22	26.37	27.86	24.08	15.96	14.83
EBIT Margin(%)	13.88	13.94	21.73	29.39	25.86	31.18	26.75	26.58	25.22	20.92	20.01
Pre Tax Margin(%)	7.5	4.5	8.6	11.67	12.13	17.75	14.54	15.06	15.27	12.21	11.01
PAT Margin (%)	5.67	2.7	6.01	7.83	8.66	11.23	10.77	11.72	11.19	9.81	9.46
Cash Profit Margin (%)	10.33	8.02	12.34	16.38	15.98	18.4	17.74	19.17	18.25	15.97	17.42
ROA(%)	2.51	1.14	2.28	1.77	2.53	3.61	3.8	3.82	3.83	3.72	3.87
ROE(%)	13.11	6.08	9.26	6.18	9.36	13.78	14.24	14.13	13.86	13.12	12.95
ROCE(%)	9.26	8.58	11.75	9.51	10.8	14.32	13.88	13.07	12.9	11.9	12.05
Receivable days	56.86	53.38	46.96	64.87	55.01	56.07	53.7	65.18	64.17	54.92	53.08
Inventory Days	17.55	19.8	20.46	33.65	25.36	21.96	21.32	20.68	18.29	19.72	20.99
Payable days	-6324.1	-6571.28	0	0	0	0	0	0	0	0	0
PER(x)	12.72	40.19	10.48	16.13	14.06	8.15	4.28	5.91	7.41	6.57	11.69
Price/Book(x)	1.34	1.54	0.59	1.05	1.52	1.07	0.58	0.8	0.97	0.81	1.41
Dividend Yield(%)	1.6	1.5	2.11	1.19	1.24	2.41	4.89	7.59	5.93	6.76	3.71
EV/Net Sales(x)	1.68	1.91	1.65	3.01	2.55	2.16	1.43	1.72	1.72	1.42	1.81
EV/Core EBITDA(x)	9.05	9.91	5.97	8.17	7.96	7.38	5.02	5.67	6.51	7.86	11.01
Net Sales Growth(%)	33.8	9.45	9.56	-31.02	22.86	3.79	14.02	-4.34	7.84	13.57	7.35
EBIT Growth(%)	21.2	9.95	70.78	-4.4	8.11	25.13	-2.2	-4.93	2.32	-5.78	2.66
PAT Growth(%)	19.13	-47.83	143.95	-1.56	35.97	34.58	9.26	4.11	3.03	-0.48	3.58
EPS Growth(%)	7.02	-61.94	201.49	15.43	32.1	29.74	7.01	5.04	2.04	-1.12	2.5
Debt/Equity(x)	2.55	2.75	1.41	1.47	1.73	1.61	1.49	1.42	1.42	1.29	1.25
Current Ratio(x)	0.76	0.8	0.95	1.09	1.04	1.09	1.13	1.47	1.53	1.51	2.03
Quick Ratio(x)	0.66	0.7	0.88	1	0.96	1	1.05	1.39	1.45	1.41	1.91
Interest Cover(x)	2.18	1.48	1.65	1.66	1.88	2.32	2.19	2.31	2.53	2.4	2.22
Total Debt/Mcap(x)	1.91	1.78	2.37	1.4	1.14	1.5	2.58	1.79	1.46	1.59	0.89

CESC Shareholding Pattern

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	52.11	52.11	52.11	52.11	52.11	52.11	52.11	52.11	52.11	52.11
FII	13.25	12.7	12.17	12.18	13.12	11.93	12.89	13.54	13.28	12.34
DII	22.08	22.03	21.78	21.06	20.09	21.46	21.16	22.66	22.65	23.78
Public	12.56	13.17	13.94	14.64	14.68	14.49	13.85	11.69	11.95	11.77
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	69.08	69.08	69.08	69.08	69.08	69.08	69.08	69.08	69.08	69.08
FII	17.56	16.83	16.13	16.15	17.39	15.82	17.08	17.95	17.61	16.36
DII	29.26	29.2	28.88	27.92	26.63	28.45	28.04	30.03	30.03	31.52
Public	16.65	17.45	18.47	19.41	19.46	19.21	18.36	15.5	15.85	15.6
Others	0	0	0	0	0	0	0	0	0	0
Total	132.56	132.56	132.56	132.56	132.56	132.56	132.56	132.56	132.56	132.56

Pros

Cons

Company has a low return on equity of 13% over the last 3 years.
The company has delivered a poor profit growth of 3% over past five years.

* 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.