CESC Ltd

CESC Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

CESC Ltd

₹ 66.0 4.35%
29 Mar 4:01 p.m.
cesc.co.in BSE: 500084 NSE : CESC
About

CESC (Calcutta Energy Supply Corporation) Limited is a flagship company of the RP-Sanjiv Goenka Group. It is engaged in electricity
distribution with embedded generation facility, across 567 square kilometres of its licensed area in Kolkata, Howrah, Hooghly, North and South 24 Parganas in West Bengal. CESC supplies safe, cost-effective and reliable electricity to around 3.3 million customers. [1] It also has power distribution business in Noida, Rajasthan and Malegaon, Maharashtra. [2]

Key Points

Distribution Business
Kolkata - The Company is engaged in business of distribution of electricity across 567 square kilometres of licensed area in Kolkata and Howrah and in the adjoining areas, West Bengal. It is the sole power distribution licensee in its coverage area in Kolkata and its license is valid till September, 2038. [1] It has 33 lakhs customers with a peak load of 2,300+ MW. [2]

Website BSE NSE
  • Market Cap ₹ 8,742 Cr.
  • Current Price ₹ 66.0
  • High / Low ₹ 88.0 / 62.1
  • Stock P/E 10.6
  • Book Value ₹ 77.1
  • Dividend Yield 6.82 %
  • ROCE 9.04 %
  • ROE 7.93 %
  • Face Value ₹ 1.00
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Pros

  • Stock is trading at 0.85 times its book value
  • Stock is providing a good dividend yield of 6.82%.
  • Company has been maintaining a healthy dividend payout of 58.7%

Cons

  • The company has delivered a poor sales growth of 0.20% over past five years.
  • Company has a low return on equity of 8.30% over last 3 years.
  • Earnings include an other income of Rs.984 Cr.

* 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: Power Generation & Distribution Industry: Power Generation And Supply

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
1,648 1,583 1,585 1,989 1,659 1,688 1,931 2,091 1,662 1,610 2,347 2,263 1,708
1,371 1,332 1,357 1,651 1,360 1,378 1,620 1,672 1,450 1,434 1,953 1,943 1,483
Operating Profit 277 251 228 338 299 310 311 419 212 176 394 320 225
OPM % 17% 16% 14% 17% 18% 18% 16% 20% 13% 11% 17% 14% 13%
164 346 179 95 142 221 109 127 259 406 33 258 287
Interest 117 170 136 121 117 128 127 124 123 130 134 148 156
Depreciation 110 121 117 113 116 117 118 116 117 120 120 119 119
Profit before tax 214 306 154 199 208 286 175 306 231 332 173 311 237
Tax % 18% 18% 13% -15% 12% 6% 21% 23% 20% 22% 20% 22% 22%
Net Profit 176 250 134 228 182 270 138 235 184 259 138 243 186
EPS in Rs 1.33 1.89 1.01 1.72 1.37 2.04 1.04 1.77 1.39 1.95 1.04 1.83 1.40
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
4,173 4,681 5,303 5,510 6,189 6,796 7,220 7,786 7,754 7,836 6,921 7,294 7,928
3,029 3,459 3,922 3,999 4,552 4,765 5,486 6,046 6,286 6,292 5,633 6,067 6,813
Operating Profit 1,143 1,222 1,381 1,511 1,637 2,031 1,734 1,740 1,467 1,544 1,289 1,226 1,115
OPM % 27% 26% 26% 27% 26% 30% 24% 22% 19% 20% 19% 17% 14%
73 101 107 100 85 -61 334 377 722 673 637 899 984
Interest 335 340 408 448 496 555 558 592 574 650 616 611 568
Depreciation 267 289 306 339 343 370 409 426 433 448 463 471 478
Profit before tax 614 693 774 825 883 1,046 1,101 1,099 1,183 1,119 847 1,044 1,053
Tax % 20% 20% 20% 21% 21% 19% 22% 22% 21% 18% 4% 22%
Net Profit 488 554 618 652 698 845 863 862 937 918 814 816 826
EPS in Rs 3.91 4.44 4.95 5.22 5.26 6.38 6.51 6.50 7.07 6.92 6.14 6.15 6.22
Dividend Payout % 10% 11% 14% 15% 17% 16% 15% 19% 25% 29% 74% 73%
Compounded Sales Growth
10 Years: 5%
5 Years: 0%
3 Years: -2%
TTM: 8%
Compounded Profit Growth
10 Years: 4%
5 Years: 3%
3 Years: -5%
TTM: 0%
Stock Price CAGR
10 Years: 12%
5 Years: -3%
3 Years: 19%
1 Year: -15%
Return on Equity
10 Years: 8%
5 Years: 8%
3 Years: 8%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
126 126 126 126 133 133 133 133 133 133 133 133 133
Reserves 5,444 5,886 6,369 6,913 7,947 12,868 13,191 9,314 9,631 9,905 9,844 9,822 10,089
3,017 3,077 3,740 4,030 5,234 5,331 5,985 5,947 6,052 6,453 7,433 8,491 8,102
3,146 3,639 4,665 5,261 5,604 9,008 9,138 10,635 10,273 10,461 10,247 10,020 10,385
Total Liabilities 11,732 12,727 14,899 16,329 18,918 27,341 28,447 26,030 26,089 26,952 27,658 28,466 28,709
7,479 7,715 8,171 8,619 9,234 14,859 14,814 14,787 14,736 14,810 14,437 14,253 14,061
CWIP 257 376 397 410 262 196 188 127 67 89 66 43 87
Investments 1,084 1,133 2,178 3,191 4,249 4,608 4,648 4,700 4,943 4,446 5,074 5,016 5,015
2,912 3,503 4,153 4,109 5,173 7,678 8,797 6,416 6,343 7,607 8,080 9,154 9,546
Total Assets 11,732 12,727 14,899 16,329 18,918 27,341 28,447 26,030 26,089 26,952 27,658 28,466 28,709

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1,001 1,023 1,607 1,986 732 1,927 1,686 1,574 1,220 1,282 810 709
-1,228 -815 -1,935 -1,839 -1,973 -1,141 -1,708 -1,087 -662 -114 -1,065 -379
-54 -187 240 -138 1,197 -670 112 -734 -672 -440 -243 -22
Net Cash Flow -281 21 -88 10 -44 116 90 -247 -114 729 -498 308

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 49 76 83 78 81 52 49 49 48 46 74 52
Inventory Days
Days Payable
Cash Conversion Cycle 49 76 83 78 81 52 49 49 48 46 74 52
Working Capital Days 63 75 9 -8 14 -16 -29 -116 -126 -115 -42 -42
ROCE % 11% 12% 12% 12% 11% 11% 8% 9% 11% 11% 9% 9%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
49.92 49.92 49.92 49.92 49.92 49.92 52.11 52.11 52.11 52.11 52.11 52.11
18.48 17.89 16.12 14.89 14.70 13.37 12.95 13.47 13.80 13.92 13.27 12.71
22.81 23.78 25.54 25.69 23.84 23.58 23.00 22.06 20.99 21.35 22.03 22.00
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.01
8.78 8.40 8.41 9.49 11.53 13.12 11.93 12.35 13.09 12.61 12.57 13.15

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Concalls

  • Nov 2021
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  • Nov 2020
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  • Nov 2019
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  • Aug 2019
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  • May 2019
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  • Mar 2019
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  • Feb 2019
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  • Nov 2018
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  • Nov 2017
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  • Sep 2017
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  • Aug 2017
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  • Feb 2017
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  • Nov 2016
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  • Sep 2016
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