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CESC Ltd

Q3 FY26Power

CESC Q3 FY26: Revenue ₹4,099 Cr, PAT ₹304 Cr

Q3 FY26 investor presentation: what the company reported on revenue, margins and projects.

Price₹140
Market cap₹18.8K Cr
P/E12.1
Updated25 Sept 2026
Read5 min read

Based on CESC Ltd's Q3 FY26 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Consolidated Revenue for Q3 FY26: Rs 4,099 Cr, up 12% YoY from Rs 3,657 Cr in Q3 FY25 (Page 5). Consolidated Q3 FY26: - EBITDA: Rs 1,036 Cr, up 3% YoY (Rs 1,006 Cr in Q3 FY25) - Profit After Tax (PAT): Rs 304 Cr, up 8% YoY (Rs 282 Cr in Q3 FY25) - Operating margin (EBITDA margin) can be inferred as approx.

From CESC Ltd's Q3 FY26 earnings-call transcript · updated 25 Sept 2026.

Revenue & Sales Performance

  • Consolidated Revenue for Q3 FY26: Rs 4,099 Cr, up 12% YoY from Rs 3,657 Cr in Q3 FY25 (Page 5).
  • Consolidated Total Sales (including export & banking): 2,478 MU, up 2% YoY from 2,423 MU in Q3 FY25 (Page 6).
  • Standalone Revenue for Q3 FY26: Rs 2,080 Cr, up 5% YoY from Rs 1,987 Cr in Q3 FY25 (Page 6).
  • NPCL Sales for Q3 FY26: 820 MU, up 6% YoY from 776 MU in Q3 FY25 (Page 5 and 17).
  • Rajasthan DF T&D loss improved, with EBITDA growth (Page 5).
  • Malegaon DF T&D loss reduced from 37.4% to 35% (Page 5).

2 more points management made on revenue & sales performance

Profitability & Margins

See what CESC Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • 300 MW Solar Project, Nokh, Phalodi, Rajasthan
  • Capex: ~Rs. 1,500 Cr.
  • Status: All major contracts finalized, construction in full swing
  • SCOD: March 31, 2026
  • CUF: 29.4%
  • Annualized Revenue: ~Rs. 200 Cr.
  • PPA signed with CESC Ltd., WBERC approval received
  • 3 GW Solar Cell & Module Manufacturing Complex, Greater Noida
  • Land: 100 acres allotted by UP Govt.
  • Timeline: Cell lines commissioning in 2027
  • Purpose: Produce TOPCon+ cells and house R&D labs
  • Renewable Projects Pipeline
  • 2,150 MW under implementation, Capex ~Rs. 14,800 Cr.
  • 1st phase of 3,200 MW targeted for full commission by Mar 2029
  • Projects include solar, hybrid, solar+BESS, hybrid+BESS, with CODs ranging from Q4 FY26 to Q2 FY29
  • Other Renewable Assets
  • 600 MW solar projects in EPC mode

2 more points management made on capital expenditure plans

Top-ranked in Power

Ranked on what management guided this quarter

5x potential
1Insolation Ener
Rev 1Mar 1
2ACME Solar Hold.
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 1Mar 3
5
Rev 2Mar 3
Sign up free to see 3 moreTakes 30 seconds · no cardSign up

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what CESC Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The investor presentation does not explicitly report any order book, order inflow, or pending orders figures. Instead, it provides information on the following related aspects: - Renewable Projects under implementation totaling 2,150 MW with a capex of ~Rs. 14,800 Cr and annualized revenue of ~Rs. 2,100 Cr (Page 9). - Pipeline of renewable projects and status of various power projects including solar, hybrid, wind, and Battery Energy Storage System (BESS) initiatives (Pages 8-11). - Connectivity applied for 7.8 GW renewable projects, with approvals secured for 3.9 GW (Page 10).

2 more points management made on order book & pipeline

CESC Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹4.1K Cr, net profit ₹459 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What CESC Ltd's management said in earlier quarters

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Frequently Asked Questions

What were CESC Ltd Q3 FY26 results?

Consolidated Revenue for Q3 FY26: Rs 4,099 Cr, up 12% YoY from Rs 3,657 Cr in Q3 FY25 (Page 5). Consolidated Q3 FY26: - EBITDA: Rs 1,036 Cr, up 3% YoY (Rs 1,006 Cr in Q3 FY25) - Profit After Tax (PAT): Rs 304 Cr, up 8% YoY (Rs 282 Cr in Q3 FY25) - Operating margin (EBITDA margin) can be inferred as approx.

What is CESC Ltd share price analysis?

CESC Ltd currently shows a neutral. The stock trades at a P/E of 12.1 with a market cap of ₹18,761 Cr. Investors should review the full earnings analysis for detailed insights.

Is CESC Ltd planning capital expenditure?

300 MW Solar Project, Nokh, Phalodi, Rajasthan - Capex: ~Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.