Sharekhan's research report on CESC
CESC’s consolidated PAT of Rs. 373 crore decreased 6.8% y-o-y (but was inline), impacted by losses in Malegaon and decrease in profits at Dhariwal and Crescent Power. It was compensated by a rise in standalone PAT. Standalone PAT rose 6.3% y-o-y to Rs. 218 crore because of higher unit sales of 2,593MU (up 11.2% y-o-y). Aggressive RE growth strategy with a plan of 3.2GW (capex of ~Rs. 12-13k cr) capacity addition in the next 4-5 years will drive growth. Also, the company has signed a PPA for 225 MW capacity of Chandrapur at attractive rates.
Outlook
We retain Buy on CESC with an unchanged PT of Rs. 195 on a SOTP basis. Renewable energy capex and turnaround of the distribution business would aid the earnings.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
