CESC LTD.

CESC Ltd has announced the incorporation of two new wholly owned subsidiary companies: Purvah Nexgen Energy Private Limited (PNEPL) and RPSG Nexgen Energy Private Limited (RNEPL). Both entities were incorporated on September 8, 2026, with an initial subscribed and paid-up capital of ₹1,00,000 each. These subsidiaries are established to explore opportunities in the renewable power sector. The company holds 100% shareholding in both PNEPL and RNEPL. This move signifies CESC Ltd's strategic expansion into the renewable energy domain.

CESC Limited's subsidiary, Purvah Green Power Private Limited, has received a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI) for the supply of 70 MW of Firm and Dispatchable Renewable Energy (FDRE-RTC) Power. The contract is for a period of 25 years from the Scheduled Commencement of Supply Date, with a tariff rate of ₹5.25/kWh. This award is a significant step for Purvah in the renewable energy sector, contributing to India's renewable energy goals.

CESC Ltd has announced its 48th Annual General Meeting (AGM) will be held on Friday, September 11, 2026, at 10:30 AM IST. The meeting will be conducted through Video Conferencing/Other Audio-Visual Means, adhering to the Companies Act, 2013, and SEBI regulations. The Annual Report for the Financial Year 2025-26 and the AGM Notice are being circulated electronically to members. A cut-off date of Friday, September 4, 2026, has been fixed for determining member eligibility to vote. The company also highlighted its focus on renewable energy as a key growth strategy, supported by its subsidiary Purvah Green Power Private Limited.

CESC Ltd announced its unaudited financial results for the first quarter ended June 30, 2026. The Board of Directors also approved and took on record the standalone and consolidated results for the period. Additionally, the company declared an interim dividend of INR 260 per equity share (650%). The record date for determining eligibility for this dividend is August 19, 2026. The financial results were reviewed by S.R. Batliboi & Co. LLP, Chartered Accountants.

CESC Ltd announced on August 13, 2026, that its Board of Directors has approved an interim dividend of ₹260 per equity share (650%). This dividend is for the financial year 2026-27 and is payable to shareholders recorded by the close of business on August 19, 2026. The board also took on record the unaudited financial results for the first quarter ended June 30, 2026, along with the limited review report from statutory auditors S.R. BATLIBOI & Co. LLP.

CESC's consolidated revenue rose 5.4% YoY to ₹5,485 Cr in the quarter ended June 30, 2026, with profit for the period up 3.7% YoY to ₹419 Cr (owners' share ₹402 Cr, EPS ₹3.03 versus ₹2.94 a year ago). Standalone — the parent generation-and-distribution business — moved in step: revenue ₹2,983 Cr (+4.2% YoY), PAT ₹220 Cr (+4.3% YoY, EPS ₹1.66). Both readings cleared Street: consensus had modeled consolidated revenue near ₹5,290 Cr, PAT near ₹387 Cr and EPS ₹2.92 (Simply Wall St forecast) — the actual print came in above all three, a modest single-digit beat rather than a blowout. Operating margin held broadly flat YoY at 16.3% (versus 16.6% a year ago) and net margin was flat at 7.3% (versus 7.3%), so the growth carried no margin erosion even as cost of energy purchased rose to ₹2,565 Cr from ₹2,396 Cr in step with revenue. Sequentially both margins look weaker — OPM was 18.1% and NPM 9.9% in the audited Q4 FY26 — but that QoQ dip traces almost entirely to regulatory income (net), which fell to ₹180 Cr this quarter from ₹435 Cr in Q4, a true-up-heavy quarter typical of year-end WBERC settlements rather than a change in the underlying business. Management gives no formal quarterly guidance on record, and no standalone press commentary from the company was available for this print, so the read leans on the filing and disclosures alone. It does trade against a strongly bullish Street setup going in: 10 of 11 analysts on Buy with a consensus target of ₹213.82 (30% upside from ₹163.94), built on renewable capex execution, tariff pass-through and de-leveraging post-FY28. Standalone debt-equity held at 1.0x this quarter versus 1.1x in Q4 and a year ago. The board declared an interim dividend of ₹6 per share (600% of face value, record date August 19), and the group carried ₹600 Cr of listed commercial paper outstanding as of June 30 plus a fresh ₹250 Cr NCD allotment to Axis Bank on August 5 — funding legs of the announced ₹22,000 Cr renewable buildout. Subsequent to the quarter, subsidiary PGPPL signed a share purchase agreement on August 10 to acquire 100% of five ReNew renewable entities (roughly 1.4 GW), and separately won a 175 MW SECI wind contract on August 6 — the clearest markers yet of the capex ramp the Street is pricing in. Neither shows up in this quarter's P&L since both are August events after the June 30 period-end, so the next checkpoint is whether Q2 FY27 begins reflecting integration costs or funding drag from these deals without disturbing the flat margin profile seen this quarter.

CESC Limited's subsidiary, Purvah Green Power Private Limited (PGPPL), has entered into a Share Purchase Agreement to acquire 100% share capital of six target companies from ReNew Solar Power Private Limited. These target companies collectively hold approximately 1.4 GWp of operational renewable power capacity. The acquisition is expected to expand CESC's renewable power footprint, significantly accelerating its Pan-India presence and increasing its operational capacity to over 1.8 GWp and contracted/tied-up capacity to over 3 GWp, totaling 4.8 GWp. The Enterprise Value is INR 4859 crores, with a cash consideration of INR 1582 crores on closing. No governmental or regulatory approvals are required, and the acquisition is anticipated to be completed before October 31, 2026. The transaction is not a related party transaction.

CESC Ltd has announced that its Board of Directors will convene on August 13, 2026. The primary agenda items include the consideration and approval of the Unaudited Financial Results for the quarter ended June 30, 2026 (Q1 FY27). Additionally, the board may discuss and approve a proposal for an interim dividend for the Financial Year 2026-27 and fix the record date for the same. This meeting is in compliance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

CESC Limited's subsidiary, Purvah Green Power Private Limited, has received a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI) for setting up a 175 MW Grid-Connected Wind Power Project. This award is part of SECI's competitive bidding process for wind power projects. The contract is for power supply over 25 years at a tariff rate of ₹3.85/kWh. This development signifies a significant step in expanding renewable energy capacity for the company's subsidiary.

CESC Limited has announced the allotment of 25,000 Secured, Unlisted, Redeemable, Rated Non-Convertible Debentures, each with a face value of ₹1,00,000, aggregating to ₹250 Crore. The allotment was made on a private placement basis to Axis Bank Limited. This move follows previous communications regarding the debt issuance and signifies a significant funding arrangement for the company.