CESC Ltd. News and Updates

Name: Latest research reports of CESC Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: CESC Ltd.
Rating: 3
Author: ICICI Securities Limited

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CESC Ltd.

16 Aug 2019

160.38

-0.78%

CESC sees best day in nearly 2 months after Q1 profit jump

Business Line

Shares of CESC Ltd rose as much as 6.3 per cent to Rs 811.95, their biggest daily percentage gain since May 20.The electric utility company on Wednesd

CESC Ltd. is trading below all available SMAs

CESC Ltd.

16 Aug 2019

160.38

-0.78%

CESC

Hold: CESC Ltd.

Recommendation

ICICI Securities Limited

Energy sold during Q1FY20, in the standalone business declined 7.6% at 305.7 crore units vs. our estimate of 284.7 crore units while realisation was at | 7.7/Kwhr vs. our expectation of |7.5 Kwhr. Energy purchased was at 177.4 crore units vs. our estimates of 165 crore units. The same has increased YoY by 10.3%. On a plant wise basis, Budge Budge plant generated 157.6 crore units while Southern generated 14.2 crore units for Q1FY20. Hence, total generation was at 171.8 crore units for Q1FY20. On the PLFs side, Budge Budge plant reported 96.2% while southern plant reported...

CESC Ltd. is trading below all available SMAs

CESC Ltd.

14 Aug 2019

160.38

-0.78%

CESC's net profit rises 7.44% to Rs Rs 231 cr in Q1, revenue up 8%

Business Standard

The net profit stood at Rs 215 crore in the corresponding quarter of the last fiscal

CESC Ltd. has an average target of 196.50 from 2 brokers.

CESC profit rises 18% to 217 crore

Business Line | 14 Aug 2019

CESC Ltd.

14 Aug 2019

160.38

-0.78%

Standalone ops gain from higher demand; subs weak

Buy: CESC Ltd.

Target

Motilal Oswal

Standalone (S/A) PAT grew by a healthy ~18% YoY to INR2.2b (our estimate: INR1.9b), led by higher sales (up ~8% YoY to 3.1BU) due to strong demand (likely because of seasonal factors). T&D; losses are estimated to have remained steady at ~9-10%. CESC has started reporting consol. quarterly performance from this quarter. Consol. PAT was up ~9% YoY to INR2.3b in 1QFY20....

CESC Ltd. has an average target of 196.50 from 2 brokers.

CESC Ltd.

01 Jul 2019

160.38

-0.78%

CESC

Buy: CESC Ltd.

Target

Sharekhan

CESC Limited's (CESC) standalone business generates steady earnings and cashflow, while we expect its loss-making subsidiary Dhariwal Infrastructure and the Rajasthan distribution franchisee (DF) to pare losses and turn profitable in FY2021/FY2022. We believe that CESC is trading at a reasonable valuation of 9x FY2021E EPS and 0.9x FY2021E book value on a standalone basis. Hence, we maintain our Buy rating on CESC with revised SoTP based price target (PT) of Rs. 905 (increased on account of a higher valuation multiple for...

CESC Ltd. has an average target of 196.50 from 2 brokers.

CESC Ltd.

04 Jun 2019

160.38

-0.78%

CESC Ventures to pick up majority stake in Herbolab

Business Line

To acquire 64.63% stake in ayurvedic medicines maker for Rs 32.175 cr

CESC Ltd. is trading below all available SMAs

CESC Ltd.

20 May 2019

160.38

-0.78%

CESC

Buy: CESC Ltd.

Sharekhan

demand off-take of power during FY2019, led to lower generation of power both at Budge Budge unit and Southern unit (down by 0.3% and 6.6% y-o-y respectively). Power purchased also remained lower by 1.0% during the year. This led to 0.4% decline in revenues y-o-y, as realisation also did not support and was lower by 0.8% y-o-y. Though PLF was lower at both...

CESC Ltd. has an average target of 196.50 from 2 brokers.

CESC Ltd.

20 May 2019

160.38

-0.78%

CESC

Buy: CESC Ltd.

Target

ICICI Securities Limited

Energy sold during Q4FY19, in the standalone business declined 4.2% at 229.1 crore units vs. our estimate of 2485 crore units while the realisation was at | 7.25/Kwhr vs. 6.82/Kwhr in Q4FY18. Energy purchased was at 104.3 crore units vs. our estimate of 125.4 crore units. The same has declined 21% YoY. For FY19, power purchase was down at 558.1 crore units vs. 563.7 crore units in FY18. On a plant wise basis, the Budge Budge plant generated 601.5 crore units while southern generated 2.84 crore units for FY19. The company continues to impress on reducing T&D; losses as the same came...

CESC Ltd. has an average target of 196.50 from 2 brokers.

CESC Ltd.

18 May 2019

160.38

-0.78%

Dhariwal turning around, DF operations improving

Buy: CESC Ltd.

Target

Motilal Oswal

FY19 consol. adj. PAT grew 43% YoY to INR11.8b (consol. numbers are reported annually) v/s our est. of INR10.1b. The strong performance was driven by sharp reduction in losses at Dhariwal and lower losses in distribution franchisee (DF). Standalone (S/A): PAT grew ~8% YoY to INR9.4b. T&D; losses were lower ~70bp YoY to 9% (down ~260bp in the last three years). Sales were flat at 10.4BU due to weak demand and weather conditions. Capitalization is estimated at INR3.8b, implying regulated equity increase of ~3% YoY in FY19. Haldia: PAT was broadly unchanged at INR3.2b as it continues to benefit from...