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. # It also has power distribution business in Noida, Rajasthan and Malegaon, Maharashtra. #
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. # It has 33 lakhs customers with a peak load of 2,300+ MW. #
- Market Cap ₹ 8,346 Cr.
- Current Price ₹ 630
- High / Low ₹ 731 / 365
- Stock P/E 6.27
- Book Value ₹ 759
- Dividend Yield 7.14 %
- ROCE 13.2 %
- ROE 14.0 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.83 times its book value
- Stock is providing a good dividend yield of 7.14%.
- Company has delivered good profit growth of 46.18% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.22%
Cons
- The company has delivered a poor sales growth of -0.09% over past five years.
- Company has a low return on equity of 12.37% for last 3 years.
- Earnings include an other income of Rs.1031.00 Cr.
Peer comparison
Sector: Power Generation & Distribution Industry: Power Generation And Supply
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|
2,985 | 2,956 | 2,415 | 2,308 | 3,227 | 3,010 | 2,344 | 2,433 | 2,420 | 2,990 | 2,539 | |
2,151 | 2,080 | 1,839 | 1,777 | 2,469 | 2,175 | 1,690 | 1,808 | 1,843 | 2,225 | 1,809 | |
Operating Profit | 834 | 876 | 576 | 531 | 758 | 835 | 654 | 625 | 577 | 765 | 730 |
OPM % | 28% | 30% | 24% | 23% | 23% | 28% | 28% | 26% | 24% | 26% | 29% |
Other Income | 126 | 166 | 341 | 532 | 139 | 155 | 219 | 422 | 241 | 157 | 211 |
Interest | 335 | 335 | 321 | 334 | 344 | 331 | 322 | 360 | 320 | 302 | 304 |
Depreciation | 191 | 194 | 192 | 187 | 192 | 191 | 193 | 205 | 202 | 199 | 203 |
Profit before tax | 434 | 513 | 404 | 542 | 361 | 468 | 358 | 482 | 296 | 421 | 434 |
Tax % | 50% | 37% | 41% | 23% | 36% | 22% | 27% | 7% | 32% | 12% | 24% |
Net Profit | 212 | 323 | 238 | 411 | 232 | 364 | 267 | 439 | 198 | 370 | 324 |
EPS in Rs | 15.99 | 24.36 | 17.95 | 31.00 | 17.50 | 27.45 | 20.14 | 33.11 | 14.93 | 27.90 | 24.43 |
Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4,051 | 4,204 | 5,179 | 5,892 | 7,557 | 10,111 | 11,067 | 12,124 | 8,363 | 10,275 | 10,664 | 11,015 | 10,382 | |
3,743 | 3,753 | 4,275 | 4,881 | 6,258 | 8,422 | 9,095 | 8,916 | 5,515 | 7,235 | 7,739 | 8,031 | 7,685 | |
Operating Profit | 308 | 451 | 904 | 1,011 | 1,298 | 1,689 | 1,972 | 3,208 | 2,849 | 3,040 | 2,926 | 2,984 | 2,697 |
OPM % | 8% | 11% | 17% | 17% | 17% | 17% | 18% | 26% | 34% | 30% | 27% | 27% | 26% |
Other Income | 137 | 235 | 115 | 132 | 224 | 185 | 160 | 194 | 479 | 454 | 1,163 | 929 | 1,031 |
Interest | 209 | 261 | 372 | 410 | 501 | 645 | 1,045 | 1,593 | 1,482 | 1,411 | 1,432 | 1,463 | 1,286 |
Depreciation | 216 | 251 | 316 | 340 | 365 | 471 | 589 | 766 | 715 | 751 | 764 | 781 | 809 |
Profit before tax | 21 | 174 | 330 | 394 | 657 | 758 | 498 | 1,042 | 1,131 | 1,331 | 1,893 | 1,669 | 1,633 |
Tax % | -270% | 10% | 16% | 38% | 27% | 24% | 40% | 30% | 28% | 27% | 37% | 22% | |
Net Profit | 78 | 157 | 278 | 246 | 459 | 492 | 199 | 598 | 691 | 913 | 1,184 | 1,302 | 1,331 |
EPS in Rs | 6.20 | 12.59 | 22.29 | 19.69 | 36.78 | 39.36 | 14.97 | 45.13 | 52.10 | 68.82 | 89.29 | 98.19 | 100.37 |
Dividend Payout % | 65% | 32% | 18% | 26% | 19% | 20% | 60% | 22% | 19% | 18% | 20% | 20% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | -0% |
3 Years: | 10% |
TTM: | -5% |
Compounded Profit Growth | |
---|---|
10 Years: | 23% |
5 Years: | 46% |
3 Years: | 25% |
TTM: | 4% |
Stock Price CAGR | |
---|---|
10 Years: | 10% |
5 Years: | 11% |
3 Years: | -7% |
1 Year: | 6% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 10% |
3 Years: | 12% |
Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Sep 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
126 | 126 | 126 | 126 | 126 | 126 | 133 | 133 | 133 | 133 | 133 | 133 | 133 | |
Reserves | 4,375 | 4,413 | 4,575 | 4,717 | 5,018 | 5,509 | 5,896 | 10,470 | 10,489 | 8,287 | 8,841 | 9,494 | 9,935 |
Borrowings | 3,956 | 4,861 | 4,128 | 5,787 | 9,661 | 11,916 | 14,202 | 14,877 | 15,599 | 14,578 | 14,479 | 14,269 | 12,396 |
1,892 | 1,935 | 3,379 | 4,158 | 6,486 | 7,396 | 7,629 | 10,947 | 11,248 | 9,988 | 10,017 | 10,475 | 12,652 | |
Total Liabilities | 10,349 | 11,335 | 12,207 | 14,787 | 21,290 | 24,948 | 27,860 | 36,428 | 37,470 | 32,986 | 33,470 | 34,372 | 35,116 |
5,937 | 7,845 | 8,062 | 8,270 | 10,913 | 14,511 | 20,869 | 26,500 | 26,626 | 23,854 | 23,649 | 23,587 | 23,164 | |
CWIP | 1,351 | 442 | 561 | 2,454 | 5,110 | 5,312 | 410 | 505 | 392 | 217 | 161 | 147 | 138 |
Investments | 434 | 437 | 417 | 176 | 212 | 106 | 670 | 1,002 | 1,110 | 1,174 | 1,185 | 685 | 715 |
2,626 | 2,610 | 3,167 | 3,887 | 5,056 | 5,019 | 5,912 | 8,420 | 9,343 | 7,742 | 8,474 | 9,953 | 11,099 | |
Total Assets | 10,349 | 11,335 | 12,207 | 14,787 | 21,290 | 24,948 | 27,860 | 36,428 | 37,470 | 32,986 | 33,470 | 34,372 | 35,116 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
912 | 749 | 869 | 911 | 1,814 | 2,251 | 889 | 2,480 | 2,655 | 2,469 | 2,294 | 3,003 | |
-1,101 | -1,309 | -1,126 | -2,133 | -3,764 | -3,180 | -2,381 | -1,220 | -1,493 | -1,606 | -686 | -163 | |
480 | 421 | 319 | 1,336 | 1,924 | 822 | 1,331 | -1,181 | -760 | -1,485 | -1,737 | -2,130 | |
Net Cash Flow | 290 | -139 | 61 | 114 | -27 | -107 | -161 | 80 | 402 | -623 | -130 | 710 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ROCE % | 4% | 5% | 8% | 8% | 8% | 9% | 8% | 12% | 10% | 11% | 14% | 13% |
Debtor Days | 38 | 45 | 41 | 62 | 78 | 55 | 56 | 43 | 68 | 55 | 60 | 62 |
Inventory Turnover | 3.83 | 4.63 | 4.98 | 5.38 | 5.94 | 5.83 | 5.29 | 3.75 | 4.50 | 6.84 | 8.63 | 8.06 |
Documents
Add documentRecent announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 5 Mar
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 3 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 26 Feb
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 25 Feb
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 23 Feb
View all
Annual reports
- Financial Year 2020 from bse
- Financial Year 2019 from bse
- Financial Year 2018 from bse
- Financial Year 2017 from bse
- Financial Year 2016 from bse
- Financial Year 2015 from bse
- Financial Year 2014 from bse
- Financial Year 2013 from bse
- Financial Year 2013 from nse
- Financial Year 2012 from bse
- Financial Year 2011 from bse
- Financial Year 2011 from nse
- Financial Year 2010 from bse
- Financial Year 2010 from nse