CESC Limited, also known as Calcutta Electric Supply Corporation Limited, is a leading electric utility company based in Kolkata, India, and the flagship company of the RP-Sanjiv Goenka Group. Founded in 1897, CESC has a rich history as the first company to generate thermal power in India and is responsible for the generation, transmission, and distribution of electricity in Kolkata and its surrounding regions, including Howrah, Hooghly, and parts of North and South 24 Parganas. In 2022, the company reported revenues of ₹12,550 crore (approximately $1.5 billion) and total assets of ₹34,372 crore (around $4.1 billion). Under the leadership of Chairman Sanjiv Goenka and Managing Directors Rabi Chawdhury (Generation) and Debasish Banerjee (Distribution), CESC continues to focus on operational excellence, sustainability, and community development through various initiatives aimed at environmental protection and positive societal impact.
Recent News on CESC Ltd
CESC Ltd recently garnered attention for its strategic move to strengthen its presence in the renewable energy sector by incorporating a new subsidiary, Greenpulse Power. This subsidiary was established through CESC’s existing entity, Purvah Green Power, and represents a significant step in the company’s ongoing efforts to expand its footprint in the sustainable energy market. Following this announcement, CESC’s stock price surged by up to 3.2%, reflecting investor confidence in the company’s forward-looking initiatives and its commitment to renewable energy development.
Moreover, CESC has been actively involved in community and cultural activities. Recently, the company’s Chairman, Rameshbabu Bandisiddegowda, emphasized the importance of flawless illumination for the upcoming 21-day Dasara festival. This focus on ensuring exceptional lighting underscores CESC’s dedication not only to its core business operations but also to enhancing the city’s cultural celebrations, highlighting the company’s role in supporting Kolkata’s heritage and community events. Through these initiatives, CESC continues to solidify its position as a key player in both the traditional and renewable energy sectors while maintaining a strong connection with the community it serves.
Shareholding Patterns of CESC Ltd
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 52.11% | 52.11% | 52.11% | 52.11% | 52.11% |
| FIIs + | 12.20% | 13.14% | 11.95% | 12.91% | 13.56% |
| DIIs + | 21.04% | 20.06% | 21.44% | 21.12% | 22.63% |
| Government + | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public + | 14.63% | 14.68% | 14.49% | 13.83% | 11.70% |
| No. of Shareholders | 3,10,987 | 3,12,839 | 3,27,212 | 3,63,776 | 3,32,459 |
The shareholding pattern of CESC Ltd. has remained stable with the promoters consistently holding a 52.11% stake from June 2023 to June 2024. Foreign Institutional Investors (FIIs) showed fluctuations, starting at 12.20% in June 2023, rising to 13.14% in September 2023, then dipping to 11.95% in December 2023 before climbing back up to 13.56% by June 2024. Domestic Institutional Investors (DIIs) have experienced growth, moving from 21.04% in June 2023 to 22.63% in June 2024, despite minor fluctuations in between. The government’s holding remains unchanged at a minimal 0.01% throughout this period. Public shareholding has decreased steadily from 14.63% in June 2023 to 11.70% in June 2024, reflecting a reduction in public stakes. Meanwhile, the number of shareholders increased from 310,987 in June 2023 to a peak of 363,776 in March 2024, before slightly decreasing to 332,459 by June 2024. This pattern suggests a steady stake by promoters, increased institutional interest, and a declining public shareholding amid changing numbers of shareholders.
How to purchase CESC shares?
Below are the trading platforms that you can use to purchase CESC shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
CESC Share Price Prediction: 2024 to 2030
CESC Share Price Prediction 2024
| When | Maximum Price | Minimum Price |
| September 2024 | 201.45 | 175.18 |
| October 2024 | 199.46 | 173.44 |
| November 2024 | 207.44 | 180.38 |
| December 2024 | 209.51 | 182.18 |
In September 2024, CESC’s share price is expected to reach a maximum of ₹201.45 and a minimum of ₹175.18. Moving into October, the price is projected to fluctuate between ₹199.46 at its highest and ₹173.44 at its lowest. In November, CESC’s share price is anticipated to peak at ₹207.44 and dip to a minimum of ₹180.38. Finally, by December 2024, CESC’s stock is forecasted to achieve a maximum of ₹209.51 and a minimum of ₹182.18.
CESC Share Price Prediction 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 211.61 | 162.77 |
| February 2025 | 213.74 | 164.42 |
| March 2025 | 218.23 | 167.87 |
| April 2025 | 216.07 | 166.21 |
| May 2025 | 209.78 | 161.37 |
| June 2025 | 219.22 | 168.63 |
| July 2025 | 214.92 | 165.32 |
| August 2025 | 221.57 | 170.44 |
| September 2025 | 224.23 | 172.48 |
| October 2025 | 230.06 | 176.97 |
| November 2025 | 235.81 | 181.39 |
| December 2025 | 246.42 | 189.55 |
As we step into January 2025, CESC’s share price is projected to reach a maximum of ₹211.61 and a minimum of ₹162.77. By December 2025, CESC’s stock is expected to achieve a peak of ₹246.42 and a trough of ₹189.55.
CESC Share Price Target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 253.81 | 195.24 |
| February 2026 | 247.47 | 190.36 |
| March 2026 | 252.42 | 194.17 |
| April 2026 | 257.57 | 198.13 |
| May 2026 | 255.02 | 196.17 |
| June 2026 | 261.39 | 201.07 |
| July 2026 | 256.27 | 197.13 |
| August 2026 | 264.19 | 203.23 |
| September 2026 | 269.48 | 207.29 |
| October 2026 | 276.48 | 212.68 |
| November 2026 | 283.40 | 218.00 |
| December 2026 | 290.48 | 223.45 |
CESC Share Price Prediction 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 293.39 | 225.68 |
| February 2027 | 300.91 | 231.47 |
| March 2027 | 312.64 | 240.49 |
| April 2027 | 306.51 | 235.78 |
| May 2027 | 297.59 | 228.91 |
| June 2027 | 310.98 | 239.21 |
| July 2027 | 304.88 | 234.52 |
| August 2027 | 314.31 | 241.78 |
| September 2027 | 325.31 | 250.24 |
| October 2027 | 333.77 | 256.74 |
| November 2027 | 342.11 | 263.16 |
| December 2027 | 350.66 | 269.74 |
CESC Share Price Prediction 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 357.68 | 275.14 |
| February 2028 | 366.85 | 282.19 |
| March 2028 | 381.16 | 293.20 |
| April 2028 | 373.68 | 287.45 |
| May 2028 | 362.80 | 279.08 |
| June 2028 | 379.12 | 291.63 |
| July 2028 | 371.69 | 285.92 |
| August 2028 | 383.19 | 294.76 |
| September 2028 | 396.60 | 305.07 |
| October 2028 | 406.91 | 313.01 |
| November 2028 | 417.08 | 320.83 |
| December 2028 | 427.51 | 328.85 |
CESC Share Price Target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 436.06 | 335.43 |
| February 2029 | 447.24 | 344.03 |
| March 2029 | 464.68 | 357.45 |
| April 2029 | 455.57 | 350.44 |
| May 2029 | 442.30 | 340.23 |
| June 2029 | 462.21 | 355.54 |
| July 2029 | 453.14 | 348.57 |
| August 2029 | 467.16 | 359.35 |
| September 2029 | 483.51 | 371.93 |
| October 2029 | 496.08 | 381.60 |
| November 2029 | 508.48 | 391.14 |
| December 2029 | 521.19 | 400.92 |
CESC Share Price Prediction 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 531.62 | 408.94 |
| February 2030 | 545.25 | 419.42 |
| March 2030 | 566.51 | 435.78 |
| April 2030 | 555.40 | 427.23 |
| May 2030 | 539.23 | 414.79 |
| June 2030 | 563.49 | 433.46 |
| July 2030 | 552.44 | 424.96 |
| August 2030 | 569.53 | 438.10 |
| September 2030 | 589.46 | 453.43 |
| October 2030 | 604.79 | 465.22 |
| November 2030 | 619.91 | 476.85 |
| December 2030 | 635.41 | 488.77 |
In January 2030, CESC’s stock price is expected to reach a maximum of ₹531.62 and a minimum of ₹408.94. By December 2030, CESC is projected to achieve a peak of ₹635.41 and a low of ₹488.77.
Financial Condition of CESC: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 12,159 | 11,632 | 12,544 | 14,246 | 15,293 | 15,846 |
| Expenses + | 8,902 | 8,338 | 9,509 | 11,972 | 13,017 | 14,073 |
| Operating Profit | 3,257 | 3,293 | 3,035 | 2,274 | 2,276 | 1,773 |
| OPM % | 27% | 28% | 24% | 16% | 15% | 11% |
| Other Income + | 842 | 665 | 1,013 | 1,584 | 2,000 | 2,429 |
| Interest | 1,484 | 1,340 | 1,248 | 1,241 | 1,377 | 1,248 |
| Depreciation | 848 | 867 | 885 | 878 | 1,217 | 1,218 |
| Profit before tax | 1,768 | 1,752 | 1,915 | 1,739 | 1,683 | 1,736 |
| Tax % | 26% | 22% | 27% | 20% | 14% | |
| Net Profit + | 1,309 | 1,363 | 1,404 | 1,397 | 1,447 | 1,467 |
| EPS in Rs | 9.56 | 10.04 | 10.25 | 10.13 | 10.38 | 10.62 |
| Dividend Payout % | 21% | 45% | 44% | 45% | 44% |
CESC Limited’s financial performance over the past five years highlights its resilience and strategic financial management. From March 2020 to March 2024, CESC’s sales have grown from ₹12,159 crore to ₹15,293 crore, with a trailing twelve-month (TTM) figure reaching ₹15,846 crore, indicating robust revenue generation. Despite increasing expenses, which rose from ₹8,902 crore to ₹13,017 crore and further to ₹14,073 crore in TTM, the company has managed to sustain a reasonable level of profitability. Operating profit saw a decline from ₹3,257 crore in March 2020 to ₹2,276 crore in March 2024, and further to ₹1,773 crore in TTM, leading to a contraction in the operating profit margin (OPM) from 27% to 15%, and then to 11%. However, CESC’s ability to boost other income—from ₹842 crore to ₹2,000 crore—has provided a financial buffer. Net profit increased from ₹1,309 crore in March 2020 to ₹1,447 crore by March 2024, reaching ₹1,467 crore in TTM. Earnings per share (EPS) rose steadily from ₹9.56 to ₹10.38. The dividend payout ratio has remained strong, between 44% and 45%, reflecting the company’s commitment to returning value to shareholders. Overall, while CESC has faced challenges with rising expenses and shrinking margins, its strong revenue growth, effective management of other income, and consistent profitability underscore a solid financial foundation and a positive outlook.
FAQS
What is the projected share price target for CESC in 2024?
The projected share price target for CESC in 2024 is ₹209.51.
Is there an expected growth in CESC share price from 2024 to 2030?
Yes, there is an expected growth in CESC share price from 2024 to 2030.
What is the maximum share price target for CESC in 2030?
The expected maximum share price target for CESC is ₹635.41.
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Conclusion
CESC Limited’s financial performance over the past five years showcases its resilience and strategic acumen. The company has successfully grown its sales from ₹12,159 crore in March 2020 to ₹15,293 crore by March 2024, with a trailing twelve-month figure of ₹15,846 crore. Despite rising expenses, CESC has maintained profitability and bolstered its financial position through increased other income, resulting in a steady net profit growth from ₹1,309 crore to ₹1,447 crore. Earnings per share have also risen consistently, reflecting strong shareholder value. The dividend payout ratio remains robust, between 44% and 45%, highlighting the company’s commitment to returning value to its shareholders. Overall, CESC’s strong revenue growth, effective management of expenses, and consistent profitability underpin a solid financial foundation and a positive outlook for the future.
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