CESC Reports Strong Q2 FY26 Consolidated Performance, Declares Interim Dividend, and Advances Renewable Projects
CESC reported robust Q2 FY26 consolidated revenue of ₹5,351 crore and PAT of ₹445 crore, alongside declaring an interim dividend of ₹6 per share. The company is significantly expanding its renewable energy portfolio with 1200 MW under implementation.
The strong financial performance and dividend declaration are directly positive for shareholders. The aggressive expansion into renewable energy, with significant projects under implementation and clear targets, signals a strategic shift and potential for future growth, making the overall impact high.
The announcement is positive due to significant increases in consolidated revenue, PBT, and PAT, along with the declaration of an interim dividend. Progress in T&D loss reduction, new power supply agreements, and substantial investments and targets in renewable energy further contribute to the positive outlook.
* Consolidated Financial Performance (Q2 FY26): CESC Limited reported a 12.2% increase in consolidated revenue to ₹5,351 crore, up from ₹4,770 crore in Q2 FY25. Consolidated Profit Before Tax (PBT) rose to ₹565 crore from ₹462 crore, and Profit After Tax (PAT) increased by 19.3% to ₹445 crore from ₹373 crore. EBITDA grew by 11.8% to ₹1,213 crore from ₹1,085 crore. * Standalone Financial Performance (Q2 FY26): Standalone gross revenue increased by 1.7% to ₹2,729 crore. Standalone PAT grew by 11% to ₹242 crore from ₹218 crore, with EBITDA rising by 6.3% to ₹705 crore from ₹663 crore. * Key Operational Developments: * Achieved significant savings in variable costs related to fuel and power procurement. * Maintained continuous focus on reducing Transmission & Distribution (T&D) losses, with Malegaon DF reducing YoY from 40% to 37% and consolidated Rajasthan DFs reducing T&D loss to 12.22% from 13.95%. * Chandrapur TPP commenced supplying power to Adani Electricity, Mumbai; Tata Power, Mumbai; and NPCL from Q1 FY26 through competitive bidding PPAs. * NPCL reported a 9% YoY growth in sales to 1,154 MU in Q2 FY26, with EBITDA increasing to ₹109 crore from ₹90 crore. * Rajasthan DFs saw consolidated EBITDA increase to ₹25 crore from ₹22 crore and consolidated PAT increase to ₹4 crore from ₹1 crore. * Dhariwal Infrastructure Ltd. was awarded 'Best Energy Efficient – PLF Plant of the year' and 'Best Digital Transformation Plant of the year'. * Interim Dividend: The Board of Directors declared an interim dividend of ₹6/- per share (600%). * Renewable Energy Initiatives: CESC, through its renewable arm Purvah Green Power, is actively participating in bids by REIA – SECI/NTPC/NHPC/SJVN/Others. The company targets 3.2 GW of renewable energy capacity by FY29 and 10 GW by FY32, with a clean energy mix target by 2030. * Projects Under Implementation (1200 MW): * Project 1: 300 MW Solar (PPA with CESC Kolkata at ₹2.69/unit) in Nokh, Jaisalmer, Rajasthan. Construction is in full swing, with expected Commercial Operation Date (SCOD) by March 31, 2026. Capex is approximately ₹1,500 crore, with annualized revenue of ~₹200 crore. * Project 2: 450 MW Hybrid (PPA with CESC Kolkata at ₹3.81/unit) expected by Q3 FY27. * Project 3: 450 MW Hybrid (PPA with NPCL at ₹3.84/unit) expected by Q4 FY27. * Connectivity for 7.8 GW has been applied for, with approval secured for 3.8 GW across high solar/wind states. * Agreements signed for 3,500 MW of wind projects and 600 MW of solar projects in EPC mode. * Distribution Assets: Currently serving over 4.8 million customers, handling more than 4.4 GW power across 1,454 Sq. KM area. Chandigarh Power Distribution Ltd. (CPDL) submitted a petition to JERC for approval of its 5-year business plan for MYT control period FY26 to FY30.
What to do with a filing like this
CESC Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by CESC Limited. Read the original for the full detail.