CESC Ltd
Incorporated in 1978, CESC Ltd is in the business of generation and distribution of Electricity[1]
- Market Cap ₹ 22,020 Cr.
- Current Price ₹ 166
- High / Low ₹ 192 / 119
- Stock P/E 15.2
- Book Value ₹ 95.9
- Dividend Yield 3.61 %
- ROCE 11.2 %
- ROE 11.3 %
- Face Value ₹ 1.00
Pros
- Stock is providing a good dividend yield of 3.61%.
- Company has been maintaining a healthy dividend payout of 44.0%
Cons
- The company has delivered a poor sales growth of 6.93% over past five years.
- Company has a low return on equity of 11.9% over last 3 years.
- Earnings include an other income of Rs.1,152 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
Utilities Power Power Integrated Power Utilities
Part of BSE 500 Nifty 500 BSE SmallCap Nifty Energy Nifty Smallcap 100
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10,111 | 11,067 | 12,124 | 8,363 | 10,275 | 10,664 | 12,159 | 11,632 | 12,544 | 14,246 | 15,293 | 17,001 | 17,907 | |
| 8,413 | 9,088 | 8,839 | 5,510 | 7,235 | 7,738 | 8,902 | 8,338 | 9,502 | 11,972 | 13,017 | 14,152 | 14,560 | |
| Operating Profit | 1,698 | 1,979 | 3,285 | 2,854 | 3,040 | 2,926 | 3,257 | 3,293 | 3,042 | 2,274 | 2,276 | 2,849 | 3,347 |
| OPM % | 17% | 18% | 27% | 34% | 30% | 27% | 27% | 28% | 24% | 16% | 15% | 17% | 19% |
| 177 | 153 | 116 | 475 | 454 | 1,163 | 842 | 665 | 1,006 | 1,584 | 2,000 | 1,618 | 1,152 | |
| Interest | 645 | 1,045 | 1,593 | 1,482 | 1,411 | 1,432 | 1,484 | 1,340 | 1,248 | 1,241 | 1,377 | 1,479 | 1,374 |
| Depreciation | 471 | 589 | 766 | 715 | 751 | 764 | 848 | 867 | 885 | 878 | 1,217 | 1,205 | 1,224 |
| Profit before tax | 758 | 498 | 1,042 | 1,131 | 1,331 | 1,893 | 1,768 | 1,752 | 1,915 | 1,739 | 1,683 | 1,782 | 1,901 |
| Tax % | 24% | 40% | 30% | 28% | 27% | 37% | 26% | 22% | 27% | 20% | 14% | 20% | |
| 573 | 299 | 729 | 810 | 975 | 1,198 | 1,309 | 1,363 | 1,404 | 1,397 | 1,447 | 1,428 | 1,516 | |
| EPS in Rs | 3.94 | 1.50 | 4.51 | 5.21 | 6.88 | 8.93 | 9.56 | 10.04 | 10.25 | 10.13 | 10.38 | 10.33 | 10.94 |
| Dividend Payout % | 20% | 60% | 22% | 19% | 18% | 20% | 21% | 45% | 44% | 45% | 44% | 44% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 7% |
| 3 Years: | 11% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 1% |
| 3 Years: | -1% |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 22% |
| 3 Years: | 27% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 12% |
| 3 Years: | 12% |
| Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 126 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | 133 |
| Reserves | 5,509 | 5,896 | 10,470 | 10,489 | 8,287 | 8,841 | 9,278 | 9,740 | 10,263 | 10,777 | 11,312 | 11,876 | 12,578 |
| 11,916 | 14,202 | 14,877 | 15,599 | 14,578 | 14,479 | 13,991 | 14,277 | 14,961 | 14,263 | 14,544 | 17,978 | 18,811 | |
| 7,396 | 7,629 | 10,947 | 11,248 | 9,988 | 10,017 | 12,055 | 11,712 | 12,136 | 12,539 | 11,179 | 10,994 | 11,663 | |
| Total Liabilities | 24,948 | 27,860 | 36,428 | 37,470 | 32,986 | 33,470 | 35,457 | 35,862 | 37,493 | 37,712 | 37,168 | 40,981 | 43,185 |
| 14,511 | 20,869 | 26,500 | 26,626 | 23,854 | 23,649 | 24,739 | 24,197 | 23,216 | 22,826 | 22,131 | 22,766 | 22,332 | |
| CWIP | 5,312 | 410 | 505 | 392 | 217 | 161 | 168 | 134 | 102 | 140 | 175 | 427 | 890 |
| Investments | 106 | 670 | 1,002 | 1,110 | 1,174 | 1,185 | 180 | 308 | 460 | 77 | 57 | 59 | 139 |
| 5,019 | 5,912 | 8,420 | 9,343 | 7,742 | 8,474 | 10,371 | 11,222 | 13,716 | 14,669 | 14,806 | 17,728 | 19,824 | |
| Total Assets | 24,948 | 27,860 | 36,428 | 37,470 | 32,986 | 33,470 | 35,457 | 35,862 | 37,493 | 37,712 | 37,168 | 40,981 | 43,185 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,251 | 889 | 2,480 | 2,655 | 2,469 | 2,294 | 3,408 | 2,806 | 2,499 | 1,978 | 2,351 | 2,582 | |
| -3,180 | -2,381 | -1,220 | -1,493 | -1,606 | -686 | -466 | -1,489 | -575 | -545 | -564 | -3,013 | |
| 822 | 1,331 | -1,181 | -760 | -1,485 | -1,737 | -2,219 | -1,739 | -611 | -2,457 | -1,642 | 1,337 | |
| Net Cash Flow | -107 | -161 | 80 | 402 | -623 | -130 | 723 | -423 | 1,313 | -1,024 | 146 | 906 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 56 | 43 | 68 | 55 | 60 | 55 | 73 | 61 | 56 | 54 | 52 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 55 | 56 | 43 | 68 | 55 | 60 | 55 | 73 | 61 | 56 | 54 | 52 |
| Working Capital Days | -91 | -98 | -103 | -123 | -102 | -109 | -120 | -66 | -94 | -89 | -70 | -90 |
| ROCE % | 8% | 8% | 12% | 10% | 11% | 14% | 14% | 13% | 13% | 11% | 12% | 11% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 4m
-
Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosures Requirements) Regulations, 2015 ('SEBI LODR Regulations')
22h - West Bengal issued GST tax, interest and penalty demand Rs.9,28,48,030 for FY2021-22; company to appeal.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
1d - Deshraj (CESC subsidiary) signed Toolfab tower supply contract for 300 MW Andhra Pradesh wind project; 91 towers within 12 months.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Dec
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Dec - CESC to participate virtually in Morgan Stanley India Industrials & Energy Seminar on 11 December 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
Concalls
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Nov 2021TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Feb 2017TranscriptAI SummaryPPT
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Nov 2016TranscriptAI SummaryPPT
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Sep 2016TranscriptAI SummaryPPT
Parentage
The company is the flagship of the RP-Sanjiv Goenka Group (RPSG), which reported a turnover of Rs. 36,509 Cr and assets of Rs. 60,590 Cr+ in FY24. The group operates across various sectors, including power, infrastructure, carbon black, retail, education, BPO, and media & entertainment with a presence in 60+ countries and 100+ offices globally. [1] [2]