Multibagger Power Company Awarded Work Order for Development of 300 MW Solar PV Project – FIIs and DIIs Increase Stake!
The company’s shares have delivered an impressive multibagger return of over 110 per cent in just 1 year.
CESC Ltd has awarded a work contract to its subsidiary, Purvah Green Power Private Ltd, to develop a 300 MW Solar PV Power Project. This includes a 150 MW ISTS-connected Solar PV Power Project in India, secured under Tariff-based Competitive Bidding, with an additional 150 MW capacity under the Greenshoe option. The power purchase agreement will be valid for 25 years from the scheduled commencement of supply.
CESC is a Small-Cap flagship company of the RP-Sanjiv Goenka Group. It is India’s first fully integrated electrical utility company with private participation in generating, transmitting, and distributing electrical power in Kolkata, Hooghly, Howrah, and North and South 24 Parganas in West Bengal.
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Today, the shares of CESC closed at around Rs 194.30 per share on the BSE. The company’s current market capitalization stands at Rs 25,755.3 crore. Additionally, the shares have delivered an impressive multibagger return of over 110 per cent in the past 1 year only.
As per the Quarterly Results, in the Q1 FY25, CESC recorded a revenue of Rs 4863 crore compared to Rs 4310 crore. The operating profit stood at Rs 371 crore. The net profit stood at Rs 388 crore compared to a profit of Rs 368 crore. Looking at the annual performance, the company generated a revenue of Rs 15293 crore in FY24. The operating profit for FY24 was Rs 2276 crore with a net profit of Rs 1447 crore compared to a net profit of Rs 1397 crore in FY23.
According to the shareholding pattern of the company, the promoters hold a significant 52.11 per cent stake. Public investors own 11.70 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 13.56 per cent compared to 12.91 per cent and Domestic Institutional Investors (DIIs) own 22.63 per cent compared to 21.12 per cent previous quarter.
Disclaimer: The article is for informational purposes only and not investment advice.