āagman

Not investment advice. Data and computed figures, for information only.

CESC Ltd

NSE: CESC
₹135.90
+₹0.05 (+0.04%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹17,661 Cr
CMP
₹135.90
52-wk High / Low
₹205 / 128
P/E
11.4
P/B
1.4
Book Value
₹94.5
Div Yield
4.50%
ROCE
11.0%
ROE
12.0%
Face Value
₹1
D/E
1.73

Price−20.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹157
√(22.5 × EPS × book value per share)
ROIC
5.3%
vs 5.8% sector median
Cash flow to profit
2.51
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−29
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
5.8%
ROE × earnings retention ratio
ROE stability
0.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.15DII −0.10
Latest quarter vs the previous one
Cash-accrual divergence
−5.6%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 11% vs the 2025 sector median of 10.5%)
+PE of 11.4x is below the sector median of 25.7x
Watch-outs
−Borrowings are up 45.7% since FY2016 (14877 to 21671)
−Price trades below its 200-day moving average (0.8x)
−Price is 33.5% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales4,3104,3523,2443,3874,8634,7003,5613,8775,2025,2674,0054,0965,485
Expenses3,5863,7062,8982,9774,4923,8042,9513,0654,3384,2063,2263,3534,590
Operating Profit7246463464103718966108128641,061779743895
OPM %16.8%14.8%10.7%12.1%7.6%19.1%17.1%20.9%16.6%20.1%19.5%18.1%16.3%
Other Income323423617645744189396293311156257531254
Interest308305296325322328339335363337343317312
Depreciation300303303311301295305304304311308304291
Profit before tax439461364419492462362466508569385653546
Net Profit368363301415388373282385404448304459419
EPS (₹)2.622.632.123.022.852.662.002.812.923.232.153.313.03

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales11,06712,1248,36310,27510,66412,15911,63212,54414,24615,29317,00118,57018,853
Expenses9,0888,8395,5107,2357,7388,9028,3389,50911,97213,01714,15214,94715,375
Operating Profit1,9793,2852,8543,0402,9263,2573,2933,0352,2742,2762,8493,6243,478
OPM %17.9%27.1%34.1%29.6%27.4%26.8%28.3%24.2%16.0%14.9%16.8%19.5%18.4%
Other Income1531164754541,1638426651,0131,5842,0001,6191,2551,198
Interest1,0451,5931,4821,4111,4321,4841,3401,2481,2411,3771,4791,5321,309
Depreciation5897667157517648488678858781,2171,2051,2281,214
Profit before tax4981,0421,1311,3311,8931,7681,7521,9151,7391,6831,7832,1192,153
Net Profit2997298109751,1981,3091,3631,4041,3971,4471,4291,6181,630
EPS (₹)1.504.515.216.888.939.5610.0410.2510.1310.3810.3311.6311.72

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 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—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2,2518892,4802,6552,4692,2943,4082,8062,4991,9782,3512,5814,057
Cash from Investing Activity−3,180−2,381−1,220−1,493−1,606−686−466−1,489−575−545−564−3,012−3,235
Cash from Financing Activity8221,331−1,181−760−1,485−1,737−2,219−1,739−611−2,457−1,6421,3371,205
Net Cash Flow−107−16180402−623−130723−4231,313−1,0241469062,027

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.08.012.010.011.014.014.013.013.011.012.011.011.0
ROE %————————————12.0
EPS (₹)3.941.504.515.216.888.939.5610.0410.2510.1310.3810.3311.63
Book Value (₹)————————————94.5
Face Value (₹)————————————1
P/E————————————11.4
Div Yield %————————————4.50
NPM %5.72.76.09.29.110.110.111.110.48.88.47.78.2
OPM %17.018.027.034.030.027.027.028.024.016.015.017.020.0
D/E2.112.361.401.471.731.611.491.451.441.311.271.501.73
P/B————————————1.4

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+4.0%
5 years+10.0%
3 years+9.0%
TTM+9.0%
Compounded profit growth
10 years+8.0%
5 years+2.0%
3 years+4.0%
TTM+13.0%
Stock price CAGR
10 years+11.0%
5 years+8.0%
3 years+15.0%
Last year−22.0%
Return on equity
10 years12.0%
5 years12.0%
3 years12.0%
Last year12.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters49.92%49.92%49.92%49.92%49.92%49.92%52.11%52.11%52.11%52.11%52.11%52.11%
FIIs21.08%21.08%13.38%13.04%18.48%14.70%13.80%12.18%12.91%11.01%11.61%11.46%
DIIs20.28%20.28%25.08%25.32%22.81%23.84%20.99%21.75%21.12%25.10%26.24%26.14%
Government0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public8.71%8.71%11.61%11.71%8.78%11.53%13.09%13.92%13.83%11.77%10.05%10.26%
No. of shareholders34,59834,59850,95855,67054,18184,0552,96,4853,07,7943,63,7764,23,0043,47,6193,46,570
Change since Jun 2023 (pp)
Promoters +2.19FIIs −9.62DIIs +5.86Public +1.55

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Newspaper PublicationClosure of Trading WindowIntimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosures Requirements) Regulations, 2015Allotment Of Debt Securities
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Sep 2026PPTAug 2026PPTMay 2026PPTFeb 2026PPTNov 2025PPT

Corporate actions

As of 19 Aug 2026
19 Aug 2026DIVIDENDInterim Dividend - Rs 6 Per Share—
27 Oct 2025DIVIDENDInterim Dividend - Rs 6 Per Share—
16 Jan 2025DIVIDENDInterim Dividend - Rs 4.50 Per Share—
1 Feb 2024DIVIDENDInterim Dividend - Rs 4.50 Per Share—
24 Feb 2023DIVIDENDInterim Dividend - Rs 4.50 Per Share—
24 Jan 2022DIVIDENDInterim Dividend - Rs 4.50 Per Share—
17 Sep 2021SPLIT Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share10 : 1
22 Jan 2021DIVIDEND Interim Dividend - Rs 45 Per Share—
18 Feb 2020DIVIDEND Interim Dividend - Rs 20 Per Share—
14 Feb 2019DIVIDEND Interim Dividend - Rs 17.50 Per Sh—
30 Oct 2018DEMERGER Composite Scheme Of Arrangement—
8 Mar 2018DIVIDEND Interim Dividend - Rs 12 Per Share (Purpose Revised)—
23 Feb 2017DIVIDEND Interim Dividend Rs 10/- Per Share (Purpose Revised)—
17 Mar 2016DIVIDEND Interim Dividend - Rs 10/- Per Share (Purpose Revised)—
22 Jul 2015DIVIDENDAnnual General Meeting / Dividend - Rs 9/- Per Share—
18 Jun 2014DIVIDENDAnnual General Meeting / Dividend - Rs 8/- Per Share—
10 Jul 2013DIVIDENDAnnual General Meeting And Dividend Rs.7/- Per Share—
11 Jul 2012DIVIDENDAnnual General Meeting And Dividend Rs.5/- Per Share—
14 Jul 2011DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
8 Jul 2010DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman