CESC targets growth with renewable energy and strategic investments

CESC has reported a 1.4% increase in consolidated PAT to Rs. 353 crore, driven by strong performances in Haldia and Dhariwal. However, the standalone business and Malegaon DF had a negative impact on results.

The standalone PAT fell by 5% to Rs. 218 crore due to rising interest expenses. On the other hand, Dhariwal and Haldia energy profits rose by 19% and 12% respectively. However, losses at Malegaon increased to Rs. 43 crore from Rs. 28 crore last year.

CESC is focusing on renewable energy growth and plans to add 3.2GW with a capital expenditure of approximately Rs. 12-13,000 crore over the next 4-5 years. They have also been awarded a contract to establish a green hydrogen production facility with a capacity of 10,500 tonnes per annum. Additionally, a 5.7% tariff hike has been implemented to recover fuel and power purchase adjustment surcharges starting from Q1.

Sharekhan maintains a "Buy" rating on CESC, with a revised price target of Rs. 217, citing the potential for growth driven by renewable energy investments and a turnaround in the distribution business.

Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings