CESC Ltd

CESC Ltd

₹ 152 0.86%
24 Jun - close price
About

Incorporated in 1978, CESC Ltd is in the business of generation and distribution of Electricity[1]

Key Points

Business Overview:[1]
CESC is a flagship company of the RP-Sanjiv Goenka Group. It is India's first fully integrated electrical utility company with private participation in generation, transmission, and distribution of electrical power in Kolkata, Hooghly, Howrah, North and South 24 Parganas in West Bengal. It serves ~3.4 million consumers which include domestic, industrial, and commercial users. Company, through its subsidiaries, also has a portfolio of independent power generation projects and distribution ventures in other parts of the country

  • Market Cap 20,158 Cr.
  • Current Price 152
  • High / Low 158 / 70.8
  • Stock P/E 14.6
  • Book Value 86.3
  • Dividend Yield 2.96 %
  • ROCE 11.2 %
  • ROE 12.3 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 44.1%
  • Company's working capital requirements have reduced from 22.6 days to 14.8 days

Cons

  • The company has delivered a poor sales growth of 7.48% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 12.6% over last 3 years.
  • Earnings include an other income of Rs.2,008 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.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
2,890 3,213 3,494 2,826 3,011 4,102 3,913 3,129 3,102 4,310 4,352 3,244 3,387
2,050 2,451 2,580 2,281 2,315 3,452 3,423 2,633 2,589 3,586 3,706 2,898 2,977
Operating Profit 840 762 914 545 696 650 490 496 513 724 646 346 410
OPM % 29% 24% 26% 19% 23% 16% 13% 16% 17% 17% 15% 11% 12%
213 130 66 408 409 191 421 426 547 323 423 617 645
Interest 290 280 278 273 298 265 274 289 289 308 305 296 325
Depreciation 218 219 222 221 223 217 221 219 221 300 303 303 311
Profit before tax 545 393 480 459 584 359 416 414 550 439 461 364 419
Tax % 21% 29% 29% 26% 24% 17% 23% 19% 19% 16% 21% 17% 1%
429 280 340 340 445 297 319 336 445 368 363 301 415
EPS in Rs 3.19 2.04 2.53 2.48 3.20 2.16 2.30 2.41 3.27 2.62 2.63 2.12 3.02
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
7,557 10,111 11,067 12,124 8,363 10,275 10,664 12,159 11,632 12,544 14,246 15,293
6,244 8,413 9,088 8,839 5,510 7,235 7,738 8,902 8,338 9,509 11,972 13,167
Operating Profit 1,313 1,698 1,979 3,285 2,854 3,040 2,926 3,257 3,293 3,035 2,274 2,126
OPM % 17% 17% 18% 27% 34% 30% 27% 27% 28% 24% 16% 14%
210 177 153 116 475 454 1,163 842 665 1,013 1,584 2,008
Interest 501 645 1,045 1,593 1,482 1,411 1,432 1,484 1,340 1,248 1,241 1,234
Depreciation 365 471 589 766 715 751 764 848 867 885 878 1,217
Profit before tax 657 758 498 1,042 1,131 1,331 1,893 1,768 1,752 1,915 1,739 1,683
Tax % 27% 24% 40% 30% 28% 27% 37% 26% 22% 27% 20% 14%
481 573 299 729 810 975 1,198 1,309 1,363 1,404 1,397 1,447
EPS in Rs 3.68 3.94 1.50 4.51 5.21 6.88 8.93 9.56 10.04 10.25 10.13 10.38
Dividend Payout % 19% 20% 60% 22% 19% 18% 20% 21% 45% 44% 45% 44%
Compounded Sales Growth
10 Years: 4%
5 Years: 7%
3 Years: 10%
TTM: 7%
Compounded Profit Growth
10 Years: 11%
5 Years: 3%
3 Years: 1%
TTM: 6%
Stock Price CAGR
10 Years: 11%
5 Years: 14%
3 Years: 25%
1 Year: 111%
Return on Equity
10 Years: 11%
5 Years: 13%
3 Years: 13%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 126 126 133 133 133 133 133 133 133 133 133 133
Reserves 5,018 5,509 5,896 10,470 10,489 8,287 8,841 9,278 9,740 10,263 10,777 11,312
9,661 11,916 14,202 14,877 15,599 14,578 14,479 13,991 14,277 14,961 14,263 14,544
6,486 7,396 7,629 10,947 11,248 9,988 10,017 12,055 11,712 12,136 12,539 11,179
Total Liabilities 21,290 24,948 27,860 36,428 37,470 32,986 33,470 35,457 35,862 37,493 37,712 37,168
10,913 14,511 20,869 26,500 26,626 23,854 23,649 24,739 24,197 23,216 22,826 22,131
CWIP 5,110 5,312 410 505 392 217 161 168 134 102 140 174
Investments 212 106 670 1,002 1,110 1,174 1,185 180 308 460 77 57
5,056 5,019 5,912 8,420 9,343 7,742 8,474 10,371 11,222 13,716 14,669 14,806
Total Assets 21,290 24,948 27,860 36,428 37,470 32,986 33,470 35,457 35,862 37,493 37,712 37,168

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,814 2,251 889 2,480 2,655 2,469 2,294 3,408 2,806 2,499 1,978 2,352
-3,764 -3,180 -2,381 -1,220 -1,493 -1,606 -686 -466 -1,489 -575 -545 -564
1,924 822 1,331 -1,181 -760 -1,485 -1,737 -2,219 -1,739 -611 -2,457 -1,642
Net Cash Flow -27 -107 -161 80 402 -623 -130 723 -423 1,313 -1,024 146

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 78 55 56 43 68 55 60 55 73 61 56 54
Inventory Days
Days Payable
Cash Conversion Cycle 78 55 56 43 68 55 60 55 73 61 56 54
Working Capital Days -6 -53 -34 -32 -19 -24 -27 -47 34 26 27 15
ROCE % 8% 8% 8% 12% 10% 11% 14% 14% 13% 13% 11%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
49.92% 52.11% 52.11% 52.11% 52.11% 52.11% 52.11% 52.11% 52.11% 52.11% 52.11% 52.11%
13.37% 12.95% 13.47% 13.80% 13.92% 13.27% 12.71% 12.18% 12.20% 13.14% 11.95% 12.91%
23.58% 23.00% 22.06% 20.99% 21.35% 22.03% 22.00% 21.75% 21.04% 20.06% 21.44% 21.12%
0.01% 0.01% 0.01% 0.01% 0.01% 0.02% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
13.12% 11.93% 12.35% 13.09% 12.61% 12.57% 13.15% 13.92% 14.63% 14.68% 14.49% 13.83%
No. of Shareholders 1,03,8891,76,1022,54,9412,96,4852,91,4532,87,9172,90,4953,07,7943,10,9873,12,8393,27,2123,63,776

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls