An integrated power utility that sells electricity. The largest cost is materials at 61.1% of revenue, consistent with fuel purchases for generation. Subsidiary Purvah Green Power, with FY26 revenue of INR 1,097.61 crore, is being merged with RPSG Energy Services and has set up multiple wholly owned subsidiaries to explore renewable power projects. Another subsidiary, Crescent Power (67.83% held), has incorporated a renewable energy entity. Capex is 21.1% of revenue, indicating heavy ongoing investment. The Board is evaluating a new debt issuance of secured, unlisted, redeemable, rated non-convertible debentures. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Integrated power utility, Renewable power. Asset-heavy, capital-intensive integrated power utility expanding into renewables
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 12,544 | 14,246 | 15,293 | 17,001 | 18,570 |
| EBITDA (ex other income) | 2,917 | 2,149 | 2,126 | 2,689 | 3,447 |
| margin % | 23.3 | 15.1 | 13.9 | 15.8 | 18.6 |
| Owners' profit | 1,359 | 1,343 | 1,376 | 1,369 | 1,542 |
| EPS, as reported (₹) | 10.25 | 10.13 | 10.38 | 10.32 | 11.63 |
| ROE % · ROCE % | 13.0 · 9.9 | 12.3 · 9.4 | 12.1 · 9.6 | 11.3 · 9.6 | 12.3 · 9.7 |
| Debt / equity (x) | 1.38 | 1.25 | 1.20 | 1.43 | 1.62 |
| Cash from operations | 2,499 | 1,978 | 2,352 | 2,582 | 4,057 |
| Capex | (778) | (696) | (771) | (1,863) | (3,916) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,700 | 3,561 | 3,877 | 5,202 | 10,469 | 4,005 | 4,096 | 5,485 |
| Profit before tax | 462 | 362 | 466 | 508 | 1,073 | 385 | 653 | 546 |
| Net profit | 373 | 282 | 385 | 404 | 849 | 304 | 459 | 419 |
| EPS (₹) | 2.67 | 1.99 | 2.81 | 2.92 | 6.13 | 2.15 | 3.31 | 3.03 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADANI POWER LTD | 4,04,921 | 28.4 | 6.10 | 19.5 | 19.5 | 12.7 | 15.6 | 44.3 |
| TATA POWER CO LTD | 1,16,528 | 30.2 | 2.45 | 12.4 | 10.8 | 3.4 | 14.0 | 23.1 |
| TORRENT POWER LTD | 65,406 | 28.1 | 3.32 | 13.4 | 12.5 | 9.3 | 18.9 | 19.9 |
| CESC LTD ◆ | 19,345 | 9.9 | 1.47 | 7.8 | 12.3 | 5.9 | 9.8 | 20.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · CESC 48th AGM: All 6 resolutions passed including dividend and director appointments | board shareholder meetings | low | — | — |
| 11 Sept 2026 · CESC 48th AGM: All 6 resolutions passed with strong majority | board shareholder meetings | low | — | — |
| 10 Sept 2026 · CESC to participate in three investor conferences in September 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · CESC to participate in three investor conferences in September 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · CESC to participate in three investor conferences in September 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · CESC to participate in three investor conferences in September 2026 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · CESC incorporates two wholly owned renewable power subsidiaries | strategic transactions | medium | — | — |
| 14 Aug 2026 · CESC subsidiary Purvah wins 70 MW SECI renewable energy contract | business updates | high | — | — |
| 13 Aug 2026 · CESC Q1 FY27: Rs 419 Cr PAT, 600 percent dividend, ReNew solar buy | investor communications | medium | — | — |
| 13 Aug 2026 · CESC Q1 FY27 results, Rs 6 per share interim dividend declared | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| RELIANCE INFRASTRUCTU LTD | 2,193 | 0.7 | 0.08 | 2.1 | 16.6 | (1.6) | 4.1 | 0.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.9 | 20.4 | 7 of 34 | 82% |
| P/B | 1.5 | 1.6 | 15 of 35 | 59% |
| ROCE | 5.9 | 3.1 | 10 of 38 | 76% |
| ROE | 12.3 | 8.8 | 10 of 36 | 74% |
| Debt / Equity | 1.6 | 0.8 | 29 of 36 | 20% |
| EBITDA margin | 20.9 | 41.1 | 28 of 33 | 16% |
| Revenue growth | 5.4 | 7.8 | 20 of 33 | 41% |
| Profit growth | 3.7 | 7.6 | 19 of 34 | 46% |
| Market cap | 19345 | 6460 | 14 of 38 | 65% |
| A rating (BUY / ADD / REDUCE / SELL) |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
