Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Research

| More

CESC - Q4FY21 First Cut - ICICI Direct

Posted On: 2021-06-17 06:36:44 (Time Zone: UTC)


(CMP - Rs. 770, MCap - Rs. 9624 crore)

On a standalone basis, CESC reported a mixed set of Q4FY21 numbers as revenues were in line with estimates but EBIDTA were ahead of estimates on back of lower power purchase cost. But on profitability level, increase in debt levels lead to higher interest out go which lead to PAT miss. On the subsidiary front, the performance of the generation and distribution subsidiary seems to have improved (we await operational parameters) given strong QoQ jump in profitability.

Q4FY21 Earnings Summary

- Reported revenues came in at Rs. 1688 crore vs. estimate of Rs. 1705.9 crore. We still do not have the operational data but believe some miss on energy sold. However, strong improvement in the performance of the subsidiaries, consolidated revenues have risen 10.3% to Rs. 2890 crore

- EBITDA came in at Rs. 310 crore vs. our estimate of Rs. 281.5 crore, the beat was mainly on account of lower power purchase and fuel costs for Q4FY21

- Reported PAT came in at Rs. 270 crore vs. our estimate of Rs. 281.7 crore, the miss was on account of higher interest outgo in Q4FY21 on account of rise in long term debt. The consolidated PAT came in at Rs. 13.5% YoY

- The company has also announced a stock split in the ratio of 1:10 (10 equity shares of face value of Rs. 1 for every share of face value of Rs. 10)

We would be coming out with the detailed report soon.

Shares of CESC LTD. was last trading in BSE at Rs.770.35 as compared to the previous close of Rs. 782.9. The total number of shares traded during the day was 134897 in over 6220 trades.

The stock hit an intraday high of Rs. 801.35 and intraday low of 760.35. The net turnover during the day was Rs. 105606071.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only. www.equitybulls.com, its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. www.equitybulls.com or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.


Other Headlines:

Q1FY22 Result Update - Syngene International - ICICI Direct

Sterlite Technologies - Q1FY22 First Cut - ICICI Direct

Bajaj Auto - Q1FY22 First Cut - ICICI Direct

UltraTech Cement - Q1FY22 First Cut - ICICI Direct

HUL - Q1FY22 First Cut - ICICI Direct

Q1FY22 Result Update - Bajaj Finserv - ICICI Direct

Hindustan Zinc - Q1FY22 First Cut - ICICI Direct

Q1FY22 Analyst Meet - Company Update - Avenue Supermarts - ICICI Direct

Q1FY22 Result Update - Indian Bank - ICICI Direct

FY2020-21 AGM Update - Trent Ltd - ICICI Direct

Q1FY22 Result Update - Supreme Industries - ICICI Direct

Indian Energy Exchange - Q1FY22 First Cut - ICICI Direct

CSB Bank - Q1FY22 First Cut - ICICI Direct

Hindustan Unilever - Q1FY22RU - First cut - YES SECURITIES

Asian Paints Report - Demand rebound strong; profitability, not so much! - HDFC Securities

Maintain ADD on Supreme Industries - Demand recovery to make up for Q1 loss - HDFC Securities

Maintain REDUCE on Jubilant FoodWorks - No fireworks to sustain expensive valuation - HDFC Securities

Mahindra CIE Automotive - Continues to walk the talk - ICICI Securities

Jubilant Foodworks - Capitalizing on the opportunity (per our expectations) - accelerated store expansion - ICICI Securities

Equitas Small Finance Bank - Focus on building stable, scalable bank with prudent and conservative approach - ICICI Securities

CEAT - Challenging quarter amidst rising input costs - ICICI Securities

Havells India - Likely market shares gains across segments - ICICI Securities

I-direct Instinct - PPAP Automotive - ICICI Direct

Consumer Durables Sector Update Report - Inspiring recovery; rich valuation to sustain - HDFC Securities

CEAT - Q1 FY22 first cut - YES Securities

Havells India - Q1 FY22 first cut - YES Securities

Polycab India - Q1 FY22 first cut - YES Securities

Jubilant Foodworks - Q1 FY22 results and investor call takeaways - YES Securities

Asian Paints - Q1 FY22 results and investor call takeaways - YES Securities

Bajaj Finance - Q1 FY22 Result Report - YES Securities

CRISIL Ltd - Q2 CY21 Result Report - YES Securities

HCL Technologies - Q1 FY22 Result Report - YES Securities

Gland Pharma - Q1 FY22 Result Report - YES Securities

ICICI Prudential Life - Q1 FY22 Result Report - YES Securities

Syngene International - Q1 FY22 Result Report - YES Securities

Q1FY22 Company Update - GTPL Hathway - ICICI Direct

Supreme Industries - Q1FY22 First Cut - ICICI Direct

Bajaj Finserv - Q1FY22 First Cut - ICICI Direct

Polycab India - Q1FY22 First Cut - ICICI Direct

Rallis India - Q1FY22 First Cut - ICICI Direct

Q1FY22 Result Update - Asian Paints - ICICI Direct

Gladiator Stocks - Kansai Nerolac Paints - ICICI Direct

Q1FY22 Result Update - Nippon Life India AMC - ICICI Direct

Q1FY22 Result Update - Bajaj Finance - ICICI Direct

Q1FY22 Company Update - Mastek Ltd - ICICI Direct

ICICI Prudential Life - Strong performance in tough times - HDFC Securities

Maintain REDUCE on Bajaj Finance - Speed bumps to a fast recovery - HDFC Securities

Maintain BUY on Mastek - Strong growth engine - HDFC Securities

First cut and detailed views on Asian Paints Q1FY22 Results - YES SECURITIES

Larsen & Toubro Infotech - Margin trajectory will be the key - ICICI Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020