CESC Ltd
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]
- Market Cap ₹ 9,630 Cr.
- Current Price ₹ 72.6
- High / Low ₹ 88.0 / 68.0
- Stock P/E 7.17
- Book Value ₹ 82.0
- Dividend Yield 6.19 %
- ROCE 12.8 %
- ROE 13.4 %
- Face Value ₹ 1.00
Pros
- Stock is trading at 0.89 times its book value
- Stock is providing a good dividend yield of 6.19%.
- Company has been maintaining a healthy dividend payout of 36.7%
Cons
- The company has delivered a poor sales growth of 8.45% over past five years.
- Company has a low return on equity of 13.5% over last 3 years.
- Earnings include an other income of Rs.1,429 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5,179 | 5,892 | 7,557 | 10,111 | 11,067 | 12,124 | 8,363 | 10,275 | 10,664 | 12,159 | 11,632 | 12,544 | 13,852 | |
4,277 | 4,849 | 6,244 | 8,413 | 9,088 | 8,839 | 5,510 | 7,235 | 7,738 | 8,902 | 8,338 | 9,502 | 11,471 | |
Operating Profit | 902 | 1,043 | 1,313 | 1,698 | 1,979 | 3,285 | 2,854 | 3,040 | 2,926 | 3,257 | 3,293 | 3,042 | 2,381 |
OPM % | 17% | 18% | 17% | 17% | 18% | 27% | 34% | 30% | 27% | 27% | 28% | 24% | 17% |
117 | 101 | 210 | 177 | 153 | 116 | 475 | 454 | 1,163 | 842 | 665 | 1,006 | 1,429 | |
Interest | 372 | 410 | 501 | 645 | 1,045 | 1,593 | 1,482 | 1,411 | 1,432 | 1,484 | 1,340 | 1,248 | 1,110 |
Depreciation | 316 | 340 | 365 | 471 | 589 | 766 | 715 | 751 | 764 | 848 | 867 | 885 | 882 |
Profit before tax | 330 | 394 | 657 | 758 | 498 | 1,042 | 1,131 | 1,331 | 1,893 | 1,768 | 1,752 | 1,915 | 1,818 |
Tax % | 16% | 38% | 27% | 24% | 40% | 30% | 28% | 27% | 37% | 26% | 22% | 27% | |
Net Profit | 277 | 244 | 481 | 573 | 299 | 729 | 810 | 975 | 1,198 | 1,309 | 1,363 | 1,404 | 1,401 |
EPS in Rs | 2.23 | 1.97 | 3.68 | 3.94 | 1.50 | 4.51 | 5.21 | 6.88 | 8.93 | 9.56 | 10.04 | 10.25 | 10.14 |
Dividend Payout % | 18% | 26% | 19% | 20% | 60% | 22% | 19% | 18% | 20% | 21% | 45% | 44% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 8% |
3 Years: | 6% |
TTM: | 12% |
Compounded Profit Growth | |
---|---|
10 Years: | 19% |
5 Years: | 15% |
3 Years: | 5% |
TTM: | -1% |
Stock Price CAGR | |
---|---|
10 Years: | 11% |
5 Years: | -1% |
3 Years: | 0% |
1 Year: | -12% |
Return on Equity | |
---|---|
10 Years: | 10% |
5 Years: | 13% |
3 Years: | 14% |
Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 4,575 | 4,717 | 5,018 | 5,509 | 5,896 | 10,470 | 10,489 | 8,287 | 8,841 | 9,278 | 9,740 | 10,263 | 10,737 |
4,128 | 5,787 | 9,661 | 11,916 | 14,202 | 14,877 | 15,599 | 14,578 | 14,479 | 13,991 | 14,277 | 14,961 | 14,305 | |
3,379 | 4,158 | 6,486 | 7,396 | 7,629 | 10,947 | 11,248 | 9,988 | 10,017 | 12,055 | 11,712 | 12,136 | 12,865 | |
Total Liabilities | 12,207 | 14,787 | 21,290 | 24,948 | 27,860 | 36,428 | 37,470 | 32,986 | 33,470 | 35,457 | 35,862 | 37,493 | 38,040 |
8,062 | 8,270 | 10,913 | 14,511 | 20,869 | 26,500 | 26,626 | 23,854 | 23,649 | 24,739 | 24,197 | 23,216 | 22,902 | |
CWIP | 561 | 2,454 | 5,110 | 5,312 | 410 | 505 | 392 | 217 | 161 | 168 | 134 | 102 | 221 |
Investments | 417 | 176 | 212 | 106 | 670 | 1,002 | 1,110 | 1,174 | 1,185 | 180 | 308 | 460 | 95 |
3,167 | 3,887 | 5,056 | 5,019 | 5,912 | 8,420 | 9,343 | 7,742 | 8,474 | 10,371 | 11,222 | 13,716 | 14,822 | |
Total Assets | 12,207 | 14,787 | 21,290 | 24,948 | 27,860 | 36,428 | 37,470 | 32,986 | 33,470 | 35,457 | 35,862 | 37,493 | 38,040 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
869 | 911 | 1,814 | 2,251 | 889 | 2,480 | 2,655 | 2,469 | 2,294 | 3,408 | 2,806 | 2,499 | |
-1,126 | -2,133 | -3,764 | -3,180 | -2,381 | -1,220 | -1,493 | -1,606 | -686 | -466 | -1,489 | -575 | |
319 | 1,336 | 1,924 | 822 | 1,331 | -1,181 | -760 | -1,485 | -1,737 | -2,219 | -1,739 | -611 | |
Net Cash Flow | 61 | 114 | -27 | -107 | -161 | 80 | 402 | -623 | -130 | 723 | -423 | 1,313 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 41 | 62 | 78 | 55 | 56 | 43 | 68 | 55 | 60 | 55 | 73 | 61 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 41 | 62 | 78 | 55 | 56 | 43 | 68 | 55 | 60 | 55 | 73 | 61 |
Working Capital Days | -22 | -17 | -6 | -53 | -34 | -32 | -19 | -24 | -27 | -47 | 34 | 28 |
ROCE % | 8% | 8% | 8% | 9% | 8% | 12% | 10% | 11% | 14% | 14% | 13% | 13% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 25 Jan
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 7 Jan
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
3 Jan - Certificate dated January 2, 2023 under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the month ended on December 31, 2022, issued by …
- Closure of Trading Window 31 Dec 2022
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 28 Dec 2022
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Concalls
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Nov 2021TranscriptPPT
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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]