CESC
CESC share price & financials
- Price
- ₹165.1
- Market cap
- ₹19.3k Cr
- Sector
- Power
What CESC Limited does
CESC is an integrated power utility, part of the RP-Sanjiv Goenka Group, that both generates and distributes electricity. In Kolkata and its adjoining districts it operates its own generation-to-distribution chain, while outside Kolkata it distributes power through subsidiaries and franchisees in Greater Noida, Chandigarh, Rajasthan and Maharashtra. Its generation fleet is coal-based thermal power plus a solar plant, supplying its own network and other utilities under long-term power purchase agreements. The company is also building new hybrid solar-wind-storage renewable generation capacity through a dedicated subsidiary to diversify its generation mix.
Segments
- Generation
- Distribution
- Renewables
- Customers served
- 4.8 million+
- Peak power handled across distribution network
- 4.4 GW+
- Total owned generation capacity
- ~2,140 MW
- Thermal power plants
- 5
- Solar power plants
- 1
- Distribution licences
- 3 (Kolkata, Greater Noida, Chandigarh)
Quarterly results
Q1 FY27: revenue up 5.4%, net profit up 3.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,700 | 3,561 | 3,877 | 5,202 | 5,267 +12% | 4,005 +12% | 4,096 +6% | 5,485 +5% |
| EBITDA | 896 | 610 | 812 | 864 | 1,061 +18% | 779 +28% | 743 −8% | 895 +4% |
| Net profit | 373 | 282 | 385 | 404 | 448 +20% | 304 +8% | 459 +19% | 419 +4% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −9.8% 1Y
1Y: ₹161.11 on 10 Sept 2025 → ₹145.37. High ₹198.72 (4 May 2026), low ₹140.43 (23 Jan 2026).
Financials, as filed
Revenue grew 9.2% a year over 3 years, FY23 to FY26. Operating margin widened to 18.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹14.2k Cr | ₹15.3k Cr | ₹17.0k Cr | ₹18.6k Cr |
| Operating profit | ₹2.1k Cr | ₹2.1k Cr | ₹2.7k Cr | ₹3.4k Cr |
| Operating margin | 15.1% | 13.9% | 15.8% | 18.6% |
| Interest | ₹1.1k Cr | ₹1.2k Cr | ₹1.3k Cr | ₹1.4k Cr |
| Depreciation | ₹878 Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.2k Cr |
| Net profit | ₹1.4k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.6k Cr |
| Net margin | 9.8% | 9.5% | 8.4% | 8.7% |
| Cash from operations | ₹2.0k Cr | ₹2.4k Cr | ₹2.6k Cr | ₹4.1k Cr |
| Free cash flow | ₹1.3k Cr | ₹1.6k Cr | ₹729 Cr | ₹148 Cr |
| ROCE | 11.0% | 12.0% | 11.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹133 Cr | ₹133 Cr | ₹133 Cr | ₹133 Cr | ₹133 Cr | ₹133 Cr |
| Reserves | ₹9.7k Cr | ₹10.3k Cr | ₹10.8k Cr | ₹11.3k Cr | ₹12.6k Cr | ₹12.4k Cr |
| Borrowings | ₹14.3k Cr | ₹15.0k Cr | ₹14.3k Cr | ₹14.5k Cr | ₹18.8k Cr | ₹21.7k Cr |
| Other liabilities | ₹11.7k Cr | ₹12.1k Cr | ₹12.5k Cr | ₹11.2k Cr | ₹11.7k Cr | ₹12.3k Cr |
| Total liabilities | ₹35.9k Cr | ₹37.5k Cr | ₹37.7k Cr | ₹37.2k Cr | ₹43.2k Cr | ₹46.5k Cr |
| Fixed assets | ₹24.2k Cr | ₹23.2k Cr | ₹22.8k Cr | ₹22.1k Cr | ₹22.3k Cr | ₹22.8k Cr |
| Capital work in progress | ₹134 Cr | ₹102 Cr | ₹140 Cr | ₹175 Cr | ₹890 Cr | ₹2.9k Cr |
| Investments | ₹308 Cr | ₹460 Cr | ₹77 Cr | ₹57 Cr | ₹139 Cr | ₹154 Cr |
| Other assets | ₹11.2k Cr | ₹13.7k Cr | ₹14.7k Cr | ₹14.8k Cr | ₹19.8k Cr | ₹20.6k Cr |
| Total assets | ₹35.9k Cr | ₹37.5k Cr | ₹37.7k Cr | ₹37.2k Cr | ₹43.2k Cr | ₹46.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −1.30 pp while DIIs added +0.76 pp. The shareholder count shrank 15% to 3,46,570.
- Promoters
- 52.1%
- FIIs
- 11.5%
- DIIs
- 26.1%
- Government
- 0.0%
- Public
- 10.3%
Since Jun 2025
- Public −1.30 pp
- DIIs +0.76 pp
- FIIs +0.53 pp
How it drifted, 12 quarters
Over this window DIIs went from 20.1% to 26.1% — +6.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 52.1%, FIIs 13.1%, DIIs 20.1%, Government 0.0%, Public 14.7%.Dec '23: Promoters 52.1%, FIIs 11.9%, DIIs 21.4%, Government 0.0%, Public 14.5%.Mar '24: Promoters 52.1%, FIIs 12.9%, DIIs 21.1%, Government 0.0%, Public 13.8%.Jun '24: Promoters 52.1%, FIIs 13.6%, DIIs 22.6%, Government 0.0%, Public 11.7%.Sep '24: Promoters 52.1%, FIIs 13.3%, DIIs 22.6%, Government 0.0%, Public 12.0%.Dec '24: Promoters 52.1%, FIIs 12.4%, DIIs 23.8%, Government 0.0%, Public 11.8%.Mar '25: Promoters 52.1%, FIIs 11.0%, DIIs 25.1%, Government 0.0%, Public 11.8%.Jun '25: Promoters 52.1%, FIIs 10.9%, DIIs 25.4%, Government 0.0%, Public 11.6%.Sep '25: Promoters 52.1%, FIIs 11.1%, DIIs 25.6%, Government 0.0%, Public 11.1%.Dec '25: Promoters 52.1%, FIIs 11.9%, DIIs 25.6%, Government 0.0%, Public 10.4%.Mar '26: Promoters 52.1%, FIIs 11.6%, DIIs 26.2%, Government 0.0%, Public 10.1%.Jun '26: Promoters 52.1%, FIIs 11.5%, DIIs 26.1%, Government 0.0%, Public 10.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- SBI Balanced Advantage Fund Mutual fund +1.31 pp 7.49% held
The same filing shows 4 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of CESC Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rainbow Investments Limited | 44.36% | unchanged |
| SBI Balanced Advantage Fund Mutual fund | 7.49% | +1.31 pp |
| Life Insurance Corporation Of India Insurer | 6.13% | −0.24 pp |
| Franklin India Small Cap Fund Mutual fund | 3.10% | −0.08 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund Mutual fund | 2.47% | −0.22 pp |
| Quest Capital Markets Limited | 2.19% | unchanged |
| Stel Holdings Limited | 1.88% | unchanged |
| Mfs International New Discovery Fund Global fund house | 1.86% | unchanged |
| HDFC Trustee Company Ltd. A/C HDFC Balanced Advantage Fund Mutual fund | 1.54% | unchanged |
| Pcbl Chemical Limited | 1.27% | unchanged |
| Digidrive Distributors Limited | 1.17% | unchanged |
| ICICI Prudential Infrastructure Fund Mutual fund | 1.12% | −0.58 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in CESC
Filings to Aug 2026
0 new, 5 added, 2 trimmed, 0 sold out — net +9.40 L shares (+0.6%).
- Held by funds
- ₹2.3k Cr
- 19 schemes
- Biggest holder
- SBI Balanced Advantage Fund
- ₹541 Cr · 1.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Balanced Advantage Fund SBI Mutual Fund | ₹541 Cr | held | Jul '22 |
| SBI Contra Fund SBI Mutual Fund | ₹319 Cr | held | Aug '21 |
| SBI Multi Asset Allocation Fund SBI Mutual Fund | ₹271 Cr | +10.07 L | Jul '22 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹213 Cr | held | Dec '23 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹212 Cr | held | Dec '22 |
| SBI Energy Opportunities Fund SBI Mutual Fund | ₹177 Cr | held | Feb '24 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹164 Cr | held | May '25 |
| SBI Dividend Yield Fund SBI Mutual Fund | ₹146 Cr | held | Mar '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
5 added, 2 trimmed — net +9.40 L shares (+0.6%)
- Funds are sitting on
- +37%
- vs est. average cost
- Held by funds
- ₹2.3k Cr
- 19 schemes · ≈ 13% of the company
- Biggest holder
- SBI Balanced Advantage Fund
- ₹541 Cr · 1.3% of that fund
- Longest holder
- SBI Contra Fund
- 5y 1m · since Aug '21
Shares held by these funds +12%
Aug '23 15.45 cr shares Jul '26
Learn to analyse CESC Limited
Guides on how to read this kind of business and the numbers that matter.