MarketFriction

CESC Ltd

NSE CESC · BSE 500084 · Integrated Power Utilities
₹131.62 -1.67%
NSE close2026-10-01
52 week range132.50 - 204.50
Market cap₹17,745 Cr.
P/E11.4
Nifty 500Nifty Smallcap 100Smallcap 250Nifty Energy Price band 20% Delivery 56.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales4,3523,2443,3874,8634,7003,5613,8775,2025,2674,0054,0965,485
Expenses3,7062,8982,9774,4923,8042,9513,0654,3384,2063,2263,3534,590
Operating Profit6463464103718966108128641,061779743895
OPM %15%11%12%8%19%17%21%17%20%19%18%16%
Other Income423617645744189396293311156257531254
Interest305296325322328339335363337343317312
Depreciation303303311301295305304304311308304291
Profit before tax461364419492462362466508569385653546
Tax %21%17%1%21%19%22%17%20%21%21%30%23%
Net Profit363301415388373282385404448304459419
EPS in Rs2.632.123.022.852.662.002.812.923.232.153.313.03
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales12,1248,36310,27510,66412,15911,63212,54414,24615,29317,00118,57018,853
Expenses8,8395,5107,2357,7388,9028,3389,50911,97213,01714,15214,94715,375
Operating Profit3,2852,8543,0402,9263,2573,2933,0352,2742,2762,8493,6243,478
OPM %27%34%30%27%27%28%24%16%15%17%20%18%
Other Income1164754541,1638426651,0131,5842,0001,6191,2551,198
Interest1,5931,4821,4111,4321,4841,3401,2481,2411,3771,4791,5321,309
Depreciation7667157517648488678858781,2171,2051,2281,214
Profit before tax1,0421,1311,3311,8931,7681,7521,9151,7391,6831,7832,1192,153
Tax %30%28%27%37%26%22%27%20%14%20%24%
Net Profit7298109751,1981,3091,3631,4041,3971,4471,4291,6181,630
EPS in Rs4.515.216.888.939.5610.0410.2510.1310.3810.3311.6311.72
Dividend Payout %22%19%18%20%21%45%44%45%44%44%52%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%10%9%9%
Compounded Profit Growth8%2%4%13%
Stock Price CAGR11%8%14%-17%
Return on Equity12%12%12%12%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital133133133133133133133133133133133133
Reserves5,89610,47010,4898,2878,8419,2789,74010,26310,77711,31211,87712,397
Borrowings14,20214,87715,59914,57814,47913,99114,27714,96114,26314,54417,97821,671
Other Liabilities7,62910,94711,2489,98810,01712,05511,71212,13612,53911,17911,02212,269
Total Liabilities27,86036,42837,47032,98633,47035,45735,86237,49337,71237,16841,01046,470
Fixed Assets20,86926,50026,62623,85423,64924,73924,19723,21622,82622,13122,84722,840
CWIP4105053922171611681341021401754032,905
Investments6701,0021,1101,1741,185180308460775759154
Other Assets5,9128,4209,3437,7428,47410,37111,22213,71614,66914,80617,70120,570
Total Assets27,86036,42837,47032,98633,47035,45735,86237,49337,71237,16841,01046,470
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity8892,4802,6552,4692,2943,4082,8062,4991,9782,3512,5814,057
Cash from Investing Activity-2,381-1,220-1,493-1,606-686-466-1,489-575-545-564-3,012-3,235
Cash from Financing Activity1,331-1,181-760-1,485-1,737-2,219-1,739-611-2,457-1,6421,3371,205
Net Cash Flow-16180402-623-130723-4231,313-1,0241469062,027
Free Cash Flow-1,0511,2551,2051,5871,4622,4952,1321,7291,2881,586729148
CFO/OP58%86%105%93%89%114%95%95%100%123%104%124%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days564368556055736156545247
Inventory Days
Days Payable
Cash Conversion Cycle564368556055736156545247
Working Capital Days-98-103-123-102-109-120-66-96-89-70-91-128
ROCE %8%12%10%11%14%14%13%13%11%12%11%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%
FIIs13.14%11.95%12.91%13.56%13.30%12.36%11.01%10.93%11.09%11.88%11.61%11.46%
DIIs20.06%21.44%21.12%22.63%22.63%23.75%25.10%25.38%25.65%25.61%26.24%26.14%
Government0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public14.68%14.49%13.83%11.70%11.96%11.78%11.77%11.56%11.14%10.39%10.05%10.26%
No. of Shareholders3,12,8393,27,2123,63,7763,32,4594,05,3124,10,0154,23,0044,08,7413,85,9583,62,4073,47,6193,46,570

Fundamentals

Market Cap₹ 17,745 Cr.
Current Price₹ 134
Stock P/E11.4
Book Value₹ 94.5
ROCE10.9 %
ROE12.0 %
Dividend Yield4.48 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)13%
Consolidated figures.
Valuation
Market capRs 17,447 Cr
Enterprise valueRs 33,546 Cr
P/E (TTM)11.23x
Price to book1.39x
Price to sales0.93x
EV / EBITDA7.17x
EV / EBIT9.69x
EV / sales1.78x
Price to cash flow4.30x
Earnings yield8.91%
Dividend yield4.58%
P/E, 3-year average13.17x
P/B, 3-year average1.57x
P/E, 5-year average10.71x
P/B, 5-year average1.30x
Profitability
Operating margin (excl. other income)19.51%
Operating margin (incl. other income)26.27%
EBITDA margin24.80%
Pre-tax margin11.42%
Net profit margin8.24%
Net margin, latest quarter7.33%
ROE12.57%
ROCE11.37%
ROA3.53%
ROE, 3-year average12.19%
ROCE, 3-year average11.66%
ROA, 3-year average3.57%
ROE, 5-year average12.51%
ROCE, 5-year average11.91%
ROA, 5-year average3.60%
ROIC (approx.)9.23%
Tax rate23.65%
Other income / net worth10.02%
Growth
Sales growth (latest year)9.23%
Profit growth (latest year)12.56%
Sales CAGR, 3 years9.24%
Sales CAGR, 5 years9.81%
Profit CAGR, 3 years4.72%
Profit CAGR, 5 years2.99%
Sales growth QoQ33.91%
Profit growth QoQ-8.43%
Sales growth YoY (latest quarter)5.44%
Profit growth YoY (latest quarter)3.88%
Per share
EPS (TTM)Rs 11.72
EPS (latest year)Rs 11.63
EPS (latest quarter)Rs 3.03
EPS, 3-year averageRs 10.78
EPS, 5-year averageRs 10.53
Book value per shareRs 94.53
Sales per shareRs 142.23
Cash flow per shareRs 30.61
Free cash flow per shareRs 1.12
Dividend per share (latest year)Rs 6.03
Dividend per share, 3-year averageRs 5.03
Dividend per share, 5-year averageRs 4.82
Dividends
Dividend payout51.84%
Dividend payout, 3-year average46.38%
Dividend payout, 5-year average45.59%
Efficiency
Asset turnover0.40x
Fixed asset turnover0.81x
Inventory turnover17.62x
Inventory days21 days
Debtor days47 days
Debtors turnover7.69x
Cash conversion cycle47 days
Working capital days-128 days
Leverage
Total debtRs 21,671 Cr
Cash and bankRs 5,572 Cr
Net debtRs 16,099 Cr
Debt to equity1.73x
Net debt / EBITDA3.44x
Interest coverage2.64x
Current ratio (filing 2026-03-31)0.92x
Quick ratio (filing 2026-03-31)0.85x
Trade payables (filing 2026-03-31)Rs 1,848 Cr
Owners' fund to total sources26.96%
Debt to assets46.63%
Cash flow
Cash from Operating Activity (latest year)Rs 4,057 Cr
Cash from Investing Activity (latest year)Rs -3,235 Cr
Cash from Financing Activity (latest year)Rs 1,205 Cr
Net Cash Flow (latest year)Rs 2,027 Cr
Free cash flow (latest year)Rs 148 Cr
FCFE (approx.: FCF + change in debt)Rs 3,841 Cr
Cash from ops / profit, 5 years1.85x
Sales to cash flow4.58x
Statement figures
Net sales (TTM)Rs 18,853 Cr
Net sales (latest year)Rs 18,570 Cr
Sales (latest quarter)Rs 5,485 Cr
Operating profit excl. other income (latest year)Rs 3,624 Cr
Operating profit (latest quarter)Rs 895 Cr
Other income (TTM)Rs 1,198 Cr
EBITDA (TTM)Rs 4,676 Cr
PBDT (TTM)Rs 3,367 Cr
Profit before tax (TTM)Rs 2,153 Cr
Tax (latest year)Rs 501 Cr
Net profit (TTM)Rs 1,554 Cr
Net profit (latest year)Rs 1,542 Cr
Net profit (latest quarter)Rs 402 Cr
Depreciation (TTM)Rs 1,214 Cr
Depreciation (latest quarter)Rs 291 Cr
Interest (TTM)Rs 1,309 Cr
Cost of goods sold (latest year)Rs 12,295 Cr
Total expenditure (latest year)Rs 14,947 Cr
Total income (latest year)Rs 19,826 Cr
Share capitalRs 133 Cr
ReservesRs 12,397 Cr
Shareholders' fundsRs 12,530 Cr
Total assetsRs 46,470 Cr
Net blockRs 22,840 Cr
Capital work in progressRs 2,905 Cr
InvestmentsRs 154 Cr
ReceivablesRs 2,416 Cr
InventoryRs 698 Cr
Other liabilitiesRs 12,269 Cr
Shares outstanding (crore)132.56
Ownership
Promoter holding52.11% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 11.2 is at the 55th percentile of its own 9.4-year range (median 10.1, low 4.6, high 20.3).
P/B 1.39 is at the 66th percentile (median 1.17).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodCESCNifty 50Difference
1 week-5.9%-2.8% -3.1 pts
1 month-9.3%-6.8% -2.5 pts
3 months-22.4%-7.6% -14.8 pts
6 months-12.4%+0.4% -12.8 pts
1 year-21.3%-9.9% -11.4 pts
2 years-32.7%-13.6% -19.2 pts
3 years+46.3%+14.2% +32.2 pts
5 years+44.0%+27.9% +16.1 pts
88 mutual fund schemes hold about ₹3,465 Cr. Over three months 57 bought more and 18 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Balanced Advantage Fund1.29%546 +11%
SBI Contra Fund0.67%319 +11%
SBI Multi Asset Allocation Fund(A1.29%271 +29%
Nippon India Multi Cap Fund0.38%213 +32%
Franklin India Small Cap Fund1.27%187 +4%
HDFC Balanced Advantage Fund0.17%187 +11%
SBI Energy Opportunities Fund2.13%177 +17%
Nippon India Small Cap Fund0.20%164 +6%
SBI Dividend Yield Fund1.71%146 +11%
ICICI Pru Infrastructure Fund1.51%129 +8%
Canara Rob Small Cap Fund0.87%127 +6%
Franklin India Multi Cap Fund1.97%103 -0%
Franklin India Flexi Cap Fund0.53%103 +4%
Axis Small Cap Fund0.28%87 +4%
Nippon India Power & Infra Fund0.98%79 -2%
ICICI Pru Energy Opportunities Fund0.60%50 +3%
SBI Comma Fund3.75%46 +4%
HDFC Value Fund0.55%46 -0%
HDFC Dividend Yield Fund0.78%44 +13%
Franklin India Dividend Yield Fund1.79%41 +12%
Franklin Build India Fund1.29%41 +7%
Bandhan Small Cap Fund0.12%40 -7%
Templeton India Value Fund1.35%27 +9%
Franklin India Multi Asset Allocation Fund0.93%27 +8%
ICICI Pru Dividend Yield Fund0.38%25 +10%

Red flags

F-score 5 of 8
lookProfit leans on other income Other income was 59% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2023-09-25SAREGAMA INDIA LIMITEDPromoter Groupother15,449,880Rs 140.05 CrScheme of Amalgamation/M
2022-03-02SAREGAMA INDIA LIMITEDPromoter Groupother2,850,000Rs 22.13 CrInter-se-Transfer
2022-03-02KOLKATA METRO NETWORKS LIMITEDPromoter Groupother2,850,000Rs 22.13 CrInter-se-Transfer
2017-03-24SPENCER AND COMPANY LIMITEDPromoter Groupsell25,000Rs 2.06 CrMarket Sale
2017-03-24CASTOR INVESTMENTS LIMITEDCASTOR IPromoter Groupbuy25,000Rs 2.07 CrMarket Purchase
2017-03-23SPENCER AND COMPANY LIMITEDPromoter Groupsell100,000Rs 8.35 CrMarket Sale
2017-03-23CASTOR INVESTMENTS LIMITEDCASTOR IPromoter Groupbuy100,000Rs 8.37 CrMarket Purchase
2017-03-22CASTOR INVESTMENTS LIMITEDCASTOR IPromoter Groupbuy125,000Rs 10.58 CrMarket Purchase
2017-03-22SPENCER AND COMPANY LIMITEDPromoter Groupsell125,000Rs 10.55 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹5,485 Cr +5.4% vs Jun 2025. Net profit ₹419 Cr +3.7%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-19Interim Dividend - Rs 6 Per Share
2025-10-27Interim Dividend - Rs 6 Per Share
2025-01-16Interim Dividend - Rs 4.50 Per Share
2024-08-13Annual General Meeting
2024-02-01Interim Dividend - Rs 4.50 Per Share
2023-07-27Annual General Meeting
2023-02-24Interim Dividend - Rs 4.50 Per Share
2022-07-20Annual General Meeting
2022-01-24Interim Dividend - Rs 4.50 Per Share
2021-09-17 Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share0.1000
2021-08-09 Annual General Meeting
2021-01-22 Interim Dividend - Rs 45 Per Share
2020-07-23 Annual General Meeting
2020-02-18 Interim Dividend - Rs 20 Per Share
2019-07-10 Annual General Meeting
2019-02-14 Interim Dividend - Rs 17.50 Per Sh
2018-12-12 Annual General Meeting
2018-10-30 Composite Scheme Of Arrangement
2018-03-08 Interim Dividend - Rs 12 Per Share (Purpose Revised)
2017-07-19 Annual General Meeting
2017-02-23 Interim Dividend Rs 10/- Per Share (Purpose Revised)
2016-07-13 Annual General Meeting
2016-03-17 Interim Dividend - Rs 10/- Per Share (Purpose Revised)
2015-07-22Annual General Meeting / Dividend - Rs 9/- Per Share
2014-06-18Annual General Meeting / Dividend - Rs 8/- Per Share
2013-07-10Annual General Meeting And Dividend Rs.7/- Per Share
2012-07-11Annual General Meeting And Dividend Rs.5/- Per Share
2011-07-14Annual General Meeting And Dividend Rs.4/- Per Share
2010-07-08Annual General Meeting And Dividend Rs.4/- Per Share
2009-07-09Agm/Div-Rs.4/- Per Share
2008-07-17Agm/Dividend - 40%
2007-07-12Agm/Dividend-35%
2006-07-06Agm/Dividend-25%
DateTypeWhat it says
2026-09-25General UpdatesGeneral Updates
2026-09-24UpdatesAllotment of Debt Securities.
2026-09-22UpdatesIssue of Debt Securities.
2026-09-18Investor PresentationInvestor Presentation
2026-09-17UpdatesIssue of Debt Securities .
2026-09-14UpdatesVoluntary Intimation Fire Incident at Panihati Distribution Sub-station.
2026-09-11Shareholder meetingProceedings of Annual General Meeting held on September 11, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along w...
2026-09-10Concall / analyst meetSchedule of meet
2026-09-10Concall / analyst meetSchedule of meet
2026-09-10Concall / analyst meetSchedule of meet
2026-09-10Concall / analyst meetSchedule of meet
2026-09-08General UpdatesGeneral Updates
2026-08-14Order winBagging/Receiving of orders/contracts
2026-08-14Shareholder meetingNotice and Annual Report of Annual General Meeting to be held on September 11, 2026
2026-08-13General UpdatesInvestor Update
2026-08-13Record DateRecord date for the purpose of Interim Dividend is 19-Aug-2026.
2026-08-13Board meeting outcomeCESC Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-13DividendBoard of Directors at its meeting held on August 13, 2026, declared Interim Dividend of Rs. 6 per equity share.
2026-08-11Concall / analyst meetSchedule of meet
2026-08-11Concall / analyst meetSchedule of meet
2026-08-10AcquisitionAcquisition
2026-08-06Order winBagging/Receiving of orders/contracts
2026-08-05UpdatesAllotment of Debt Securities.
2026-08-03UpdatesIssue of Debt Securities.
2026-07-31UpdatesIntimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended ( Listing Regulations ).
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of CESC Ltd?

CESC Ltd (CESC) has a market capitalisation of Rs 17,745 Cr. at the 2026-10-01 close.

What is the P/E ratio of CESC Ltd?

CESC Ltd trades at a P/E of 11.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were CESC Ltd's latest quarterly results?

In the Jun 2026 quarter, CESC Ltd sales was Rs 5,485 Cr (+5.4% vs Jun 2025) and net profit was Rs 419 Cr.

What is the 52-week high and low of CESC Ltd?

The 52-week high is Rs 204.50 and the 52-week low is Rs 132.50.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03