CESC aims to double profit by 2030, driven by renewables

CESC Limited, an RP-Sanjiv Goenka Group company, presented its growth vision for 2030, aiming to double its consolidated profit after tax (PAT). This growth is supported by strategic initiatives including expanding renewable energy capacity to 3.2 GW by fiscal year 2029 and 10 GW by fiscal year 2032, along with developing a 3 GW solar cell and module manufacturing ecosystem by 2027. The company plans a capex of over Rs 23,000 Cr for phase one renewables and Rs 3,000 Cr for solar manufacturing.

The company's distribution business will see a capex of Rs 6,000 Cr across all licenses over the next five years, focusing on privatization opportunities, particularly in Uttar Pradesh. CESC reported a group turnover of Rs 42,100 Cr and an asset base of Rs 67,700 Cr as of fiscal year 2025. The group's revenue has grown 2.5 times from fiscal year 2015 to fiscal year 2025, with EBITDA increasing 3 times and market cap by 7 times in the same period.

Operational highlights include transmission and distribution (T&D) losses significantly below the national average and strong sales volume growth across its Kolkata, NPCL, and Rajasthan distribution franchises. CESC's Chandrapur TPP has signed medium-term power purchase agreements (PPAs) for 225 MW net capacity at higher attractive tariffs, and its renewable arm has secured 1200 MW renewable projects with PPAs and connectivity in place.