1. At a Glance
CESC — the power supplier that’s older than most equity investors’ SIPs — runs a utility empire under the RP-Sanjiv Goenka Group. It’s reliable, profitable, and occasionally… boring. But boring pays dividends.
2. Introduction with Hook
Think of CESC as the polite old uncle of the power sector — always shows up, pays dividends on time, and doesn’t chase validation on Twitter. It’s the Kolkata-based utility dinosaur still alive in the era of solar unicorns.
- ₹23,693 Cr Market Cap — steady mid-cap horse
- 11.7% ROE, 2.5% dividend yield — not thrilling, not failing
- 13% CAGR in share price over 5 years — compounding quietly
3. Business Model (WTF Do They Even Do?)
CESC = Integrated Utility. Translation:
- Generation: Thermal + Renewables
- Distribution: Power supply across Kolkata, Noida, and Chandigarh (recent acquisition)
- Subsidiaries & Ventures: Purvah Green Power, Bhojraj Renewables, Deshraj Solar Energy
- Revenue split: Mostly from regulated distribution biz (safe but slow)
Business strategy? “Buy power assets,
