CESC Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for CESC, BSE:500084 CESC Ltd.

CESC Ltd.

12 Mar 2018

175.35

1.37%

CESC Ltd.

Buy: CESC Ltd.

AUM Capital

CESC Ltd. formerly known as Calcutta Electric Supply Corporation, incorporated in 1978 is the Kolkata-based flagship company of the RP-Sanjiv Goenka Group. It is a fully integrated power utility company with its operation spanning the entire value chain: right from mining coal, generating power and distribution of power across 567 sq. Kms of its licensed area in Kolkata and Howrah, West Bengal. CESC's diversified segments include Power, which is engaged in generation and distribution of electricity; Retail, which includes organized retailing; Property, which is engaged in property development, and Processing Outsourcing, which includes business process outsourcing. Company owns and operates three thermal...

CESC Ltd. has an average target of 199.50 from 2 brokers.

CESC Ltd.

15 Feb 2018

175.35

1.37%

CESC - 3QFY18 Result Update

Hold: CESC Ltd.

Target

Reliance Securities

In line with our estimate, CESC's net profit grew by a muted 1.3% YoY to Rs1.5bn in 3QFY18, led by delay in tariff order for FY18, which we expect to be notified in 4QFY18. Its revenue grew by 5.3% YoY to Rs17.1bn, while EBITDA remained flat at Rs3.1bn. The proposed demerger has been approved by the shareholders, and the Company expects the approval of National Company Law Tribunal (NCLT) by Mar'18, while the listing of all the four entities is likely by Jun'18. The valuations seem to have discounted all positives, in our view. Rolling over our estimates to...

CESC Ltd. is trading at high day volume of 3.1M.

CESC Ltd.

12 Feb 2018

175.35

1.37%

CESC

Buy: CESC Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research CESC reported lower-than-expected Q3FY18 results mainly led by lower-than-expected revenues on account of lower energy sold at 234.5 crore units vs. our estimate of 253 crore units. The standalone generation was higher than our estimate at 135.7 crore units while purchase of electricity from subsidiary got impacted During Q3FY18, Haldia TPP operated at PLF of 87.1% and supplied 105.6 crore units to CESC licensed area, which was down QoQ. In the...

CESC Ltd. is trading above all available SMAs

CESC Ltd.

21 Nov 2017

175.35

1.37%

CESC: Gets 185MW PPA under flexi-coal scheme

Buy: CESC Ltd.

Motilal Oswal

Dhariwal is L1 to supply 185MW (net) to Maharashtra (MH) at INR2.76/kWh during December 2017 to June 2018. The contract is part of the flexible coal scheme (report link) under which coal will be supplied by MH at Coal India's notified price. We estimate contribution margin of INR0.7-0.8/kWh. Dhariwal will supply the power from its second unit of 300MW (2x300MW plant). Though the margin is low, the strategy partially de-risks it from the volatile merchant market. Moreover, Dhariwal can now look to supply in day-ahead market from the remaining 115MW capacity, given that operation of part of the unit is now assured. MH could extend...

CESC Ltd. has an average target of 199.50 from 2 brokers.

CESC Ltd.

16 Nov 2017

175.35

1.37%

CESC - 2QFY18 Result Update

Hold: CESC Ltd.

Target

Reliance Securities

CESC's net profit grew by 2.1% YoY to Rs2.5bn in 2QFY18, in line with our estimate. Led by 3.1% YoY rise in realisations, its revenue rose by 3.6% YoY to Rs20.8bn, which was offset by higher power purchase cost and other expenses (+38.3% YoY). The proposed demerger of distinct business verticals into 4 separate entities augurs well for CESC, as the past diversification into unrelated businesses was the key overhang for the stock. As the valuations seem to have discounted all positives, we maintain our HOLD recommendation on the stock with a revised Target Price of Rs964 (from Rs903 earlier). Higher Operating Cost Drags EBITDA...

Number of FII/FPI investors increased from 233 to 245 in Sep 2025 qtr.

CESC Ltd.

10 Nov 2017

175.35

1.37%

CESC

Buy: CESC Ltd.

Recommendation Target

ICICI Securities Limited

CESC reported lower than expected Q2FY18 results mainly led lower than expected revenues and higher other expenses which lead to lower profitability. Adjusting for one off to the tune of |25 crore, PAT...

CESC Ltd. is trading above all available SMAs

CESC Ltd.

08 Nov 2017

175.35

1.37%

CESC: In-line results; Spencer's sales weak, EBITDA positive

Buy: CESC Ltd.

Target

Motilal Oswal

CESC's standalone PAT grew 2.1% YoY to INR2.47b, marginally below estimate. T&D; loss (provisional) declined 100bp YoY (30bp QoQ) to 10.8%. Sales grew 4% YoY to 2.75BU. Realization was up 2.8% YoY to INR7.57/kWh. The tariff for FY18 is pending regulatory approval, delaying cost and capex recovery. However, this was offset by impressive reduction in T&D; losses (drives incentive income) and power exports. Spencer sales down, but EBITDA positive on efficiency gains: Average sales declined 5% while same-store sales declined 1% YoY, as it continues to face...

CESC Ltd. is trading above all available SMAs

CESC Ltd.

14 Aug 2017

175.35

1.37%

CESC

Hold: CESC Ltd.

Target

ICICI Securities Limited

ventures (First source, Property, FMCG). The listing of various entities will 10.1 happen post October 2017. Existing shareholders will be entitled to one 14.1 share of each business demerged for one share held in the pre demerger entity. This would lead to elimination of holding company discount and allow discovery of true worth of all the businesses, which we believe is...

Number of FII/FPI investors increased from 233 to 245 in Sep 2025 qtr.

CESC Ltd.

03 Jul 2017, 12:00AM

175.35

1.37%

Generation increased 7.2% YoY in May 2017 (excl. renewables) driven by rise in demand fr...

Accumulate: CESC Ltd.

Emkay

The overall industry PLF declined 246 bps YoY to 53.7% (excl. renewables). PLF declined across the Gas and Nuclear segment by 61 bps and 1354 bps YoY respectively. PLF across the Coal and the Hydro was up by 104 bps and 380 bps YoY. While base deficit increased marginally to 0.6% vs 0.5% MoM, peak deficit declined marginally to 0.7% vs. 0.8% MoM. On a YoY basis, both however, improved significantly from 1.6% each respectively. Rates on IEX increased 5.3% MoM to Rs 2.9/unit. In May 2017, net capacity addition was at 1,056 MW against the target of 980 MW....

Number of FII/FPI investors increased from 233 to 245 in Sep 2025 qtr.

CESC Ltd.

27 Jun 2017

175.35

1.37%

CESC (Update): The quadruple factor. Maintain BUY

Buy: CESC Ltd.

Target

HDFC Securities

In our view, CESCs demerger plan will lead to substantial value unlocking. The move would bring with it benefits like (1) Isolation of cash flows of the Power vertical from other businesses (one of the investors? key concerns) and (2) The opportunity to invest in a pure-play power distribution business, with steady cash flows and growth. Losses incurred by Spencers were the key hurdle for this demerger, in our view.