Cesc Ltd
NSE: CESC · Integrated Power Utilities · sector
₹124.75NSE close 2026-10-26
Key numbers
Market cap₹16,592 cr
Price₹124.75
52w high / low₹204 / ₹125
P/E10.7xSector median 25.1x
P/B1.3xSector median 2.7x
Book value₹94.2
Dividend yield4.84%Sector median 1.43%
ROE12.6%Sector median 12.7%
ROCE10.2%Sector median 10.2%
OPM18.4%Sector median 19.2%
Debt / equity1.70xSector median 0.82x
EV/EBITDA9.3xSector median 12.5x
Interest cover2.6x
Current ratio0.92x
Sales growth 3y+9.2%Sector median +4.2%
Profit growth 3y+4.7%Sector median +4.6%
PEG2.27x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 5 companies in Integrated Power Utilities (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹5,671 cr vs borrowings ₹21,319 cr (FY26): borrowings are higher by ₹15,648 cr.
- Borrowings rose in each of the last 3 years (₹14,262 cr → ₹21,319 cr).
- Operating profit covered interest 2.6x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 77% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹124.75 on 2026-10-26: -39.0% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹201.42 · low ₹122.18
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,700 | 3,561 | 3,877 | 5,202 | 5,267 | 4,005 | 4,096 | 5,485 |
| EBITDA | 896 | 610 | 812 | 864 | 1,061 | 779 | 743 | 895 |
| OPM % | 19.1% | 17.1% | 20.9% | 16.6% | 20.1% | 19.5% | 18.1% | 16.3% |
| Other income | 189 | 396 | 293 | 311 | 152 | 257 | 531 | 254 |
| Net profit | 353 | 265 | 373 | 387 | 425 | 285 | 439 | 402 |
| EPS (₹) | 2.67 | 1.99 | 2.81 | 2.92 | 3.21 | 2.15 | 3.31 | 3.03 |
| Revenue YoY | +12.1% | +12.5% | +5.6% | +5.4% | ||||
| Profit YoY | +20.4% | +7.5% | +17.7% | +3.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 12,544 | 14,246 | 15,293 | 17,001 | 18,570 | 18,853 |
| EBITDA | 2,917 | 2,149 | 2,126 | 2,689 | 3,447 | 3,478 |
| Net profit | 1,359 | 1,343 | 1,376 | 1,369 | 1,542 | 1,551 |
| EPS (₹) | 10.25 | 10.13 | 10.38 | 10.32 | 11.63 | 11.70 |
| Revenue growth | +13.6% | +7.3% | +11.2% | +9.2% | +8.7% | |
| Profit growth | -1.2% | +2.5% | -0.5% | +12.6% | +12.6% | |
| Dividend / share (₹) | 4.50 | 4.50 | 4.50 | 4.50 | 6.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +9.2% | +9.8% | +8.7% |
| Net profit | +4.7% | +3.0% | +12.6% |
| EPS | +4.7% | -35.0% | – |
| Share price | – | -17.3% (2y) | -27.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 10,910 | 11,445 | 12,009 | 12,530 |
| Borrowings | – | 14,262 | 14,363 | 17,978 | 21,319 |
| Cash & equivalents | – | 2,588 | 2,716 | 4,042 | 5,671 |
| Total assets | – | 37,711 | 37,168 | 40,981 | 46,470 |
| Fixed assets | – | 22,634 | 21,949 | 21,673 | 21,724 |
| Capital work in progress | – | 140 | 174 | 427 | 2,905 |
| Investments | – | 77 | 52 | 59 | 55 |
| Receivables | – | 2,192 | 2,256 | 2,428 | 2,416 |
| Inventory | – | 880 | 878 | 725 | 698 |
| Payables | – | 1,089 | 1,272 | 1,588 | 1,848 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 2,499 | 1,978 | 2,352 | 2,582 | 4,057 |
| Cash from investing | -575 | -545 | -564 | -3,013 | -3,235 |
| Cash from financing | -611 | -2,457 | -1,642 | 1,337 | 1,205 |
| Capex | 778 | 696 | 771 | 1,863 | 3,916 |
| Free cash flow | 1,721 | 1,282 | 1,581 | 719 | 141 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 12.3% | 12.0% | 11.4% | 12.3% |
| ROCE % | – | 11.3% | 11.3% | 10.4% | 10.3% |
| Debtor days | – | 56 | 54 | 52 | 47 |
| Inventory days | – | 35 | 32 | 24 | 22 |
| Payable days | – | 43 | 47 | 53 | 59 |
| Cash conversion cycle (days) | – | 48 | 39 | 23 | 10 |
| Working capital days | – | -22 | -5 | -3 | -16 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 52.11% |
| FIIs | 11.49% |
| DIIs | 24.94% |
| of which Mutual funds | 17.29% |
| of which Insurance | 7.63% |
| Government | 0.01% |
| Public (non-institutions) | 11.45% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 52.11% | 52.11% | 52.11% | 52.11% | 52.11% | 52.11% | 52.11% | 52.11% |
| Promoter group | % |
|---|---|
| Rainbow Investments Limited | 44.36% |
| Quest Capital Markets Limited | 2.19% |
| Stel Holdings Limited | 1.88% |
| Pcbl Chemical Limited | 1.27% |
| Digidrive Distributors Limited | 1.17% |
| Integrated Coal Mining Limited | 0.81% |
| Castor Investments Limited | 0.19% |
| Sanjiv Goenka | 0.10% |
| Shashwat Goenka | 0.08% |
| Altius One Capital & Investments Private Limited | 0.03% |
| Preeti Goenka | 0.02% |
| Sanjiv Goenka Huf | 0.01% |
| Avarna Jain | 0.00% |
| Lebnitze Real Estates Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Sbi Balanced Advantage Fund | 7.79% |
| Life Insurance Corporation Of India | 6.13% |
| Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund | 2.48% |
| Franklin India Small Cap Fund | 2.20% |
| Mfs International New Discovery Fund | 1.76% |
| Hdfc Trustee Company Ltd. A/C Hdfc Balanced Advantage Fund | 1.50% |
| Icici Prudential Infrastructure Fund | 1.24% |
3,55,470 shareholders. Pledged: 0.00% of promoter shares.
Peers in Integrated Power Utilities
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| ADANIPOWER | ₹3,59,756 cr | 25.2x | 5.5x | 23.5% | 17.7% | 37.4% | +11.8% | – |
| TATAPOWER | ₹1,08,171 cr | 28.0x | 2.7x | 10.3% | 8.8% | 20.3% | +4.2% | 1.03% |
| TORNTPOWER | ₹58,331 cr | 25.1x | 3.1x | 12.7% | 13.0% | 19.2% | +4.1% | 1.75% |
| CESC | ₹16,592 cr | 10.7x | 1.3x | 12.6% | 10.2% | 18.4% | +9.2% | 4.84% |
| RELINFRA | ₹1,982 cr | 0.6x | 0.1x | 19.9% | 9.0% | 14.9% | -0.3% | 1.10% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-19 | Dividend | Interim Dividend - Rs 6 Per Share |
| 2025-10-27 | Dividend | Interim Dividend - Rs 6 Per Share |
| 2025-01-16 | Dividend | Interim Dividend - Rs 4.50 Per Share |
| 2024-08-13 | Other | Annual General Meeting |
| 2024-02-01 | Dividend | Interim Dividend - Rs 4.50 Per Share |
| 2023-07-27 | Other | Annual General Meeting |
| 2023-02-24 | Dividend | Interim Dividend - Rs 4.50 Per Share |
| 2022-07-20 | Other | Annual General Meeting |
| 2022-01-24 | Dividend | Interim Dividend - Rs 4.50 Per Share |
| 2021-09-17 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share |
| 2021-08-09 | Other | Annual General Meeting |
| 2021-01-22 | Dividend | Interim Dividend - Rs 45 Per Share |
| 2020-07-23 | Other | Annual General Meeting |
| 2020-02-18 | Dividend | Interim Dividend - Rs 20 Per Share |
| 2019-07-10 | Other | Annual General Meeting |
| 2019-02-14 | Dividend | Interim Dividend - Rs 17.50 Per Sh |
| 2018-12-12 | Other | Annual General Meeting |
| 2018-10-30 | Restructuring | Composite Scheme Of Arrangement |
| 2018-03-08 | Dividend | Interim Dividend - Rs 12 Per Share (Purpose Revised) |
| 2017-07-19 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Generation and Distribution of Electricity: Power- generation and distribution
| Sector | Utilities |
| Industry | Integrated Power Utilities |
| Sub-industry | Integrated Power Utilities |
| Symbol | CESC |
| BSE code | 500084 |
| ISIN | INE486A01021 |
| Face value | ₹1.0 |
| Incorporated | 1978-04-01 |
| Website | www.cesc.co.in |
| Plants (India / abroad) | 158 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.