Shares of CESC Ltd gained nearly 2% on Tuesday, October 29, after its subsidiary Purvah Green Power received a major contract from the Solar Energy Corporation of India (SECI). The deal involves setting up a 300 MW solar power project with an integrated Energy Storage System (ESS) — a significant move toward advancing India’s renewable energy capacity.
Project Details
According to the company’s exchange filing, Purvah Green Power has been awarded the contract to supply power at a tariff of Rs 2.86 per kWh, with a 25-year contract tenure starting from the scheduled supply commencement date. The total project value is estimated at Rs 8,580 crore over the contract period, based on the annual revenue potential from the 300 MW capacity.
CESC clarified that the award has been granted by SECI, a domestic entity, and does not constitute a related party transaction. The promoter or promoter group of Purvah has no interest in SECI.
Strategic Importance
The project strengthens India’s renewable infrastructure by integrating solar generation with energy storage solutions, improving grid reliability and long-term energy efficiency. For CESC, it marks an expansion beyond conventional power and retailing operations into utility-scale green energy.
CESC described this project as a “strategic milestone” under its broader clean energy roadmap, enhancing both sustainability and profitability within its portfolio.
Financial Performance
For the quarter ended Q2 FY26, CESC reported a consolidated net profit of Rs 425 crore, up 20.4% year-on-year, driven by a 12.1% rise in net sales to Rs 5,267 crore. The company continues to maintain strong fundamentals across power generation, organized retail, and business process outsourcing segments.
Stock Details
As of 9:57 AM, shares of CESC Ltd were trading 1.99% higher at Rs 182.10 on the BSE, compared to the previous close of Rs 178.55. The stock hit an intraday high of Rs 185.25 and carries a market capitalization of Rs 241.52 billion. It currently trades at a P/E ratio of 16.67 and offers a dividend yield of 3.29%.
Over the past year, CESC’s share price has fluctuated between Rs 119 and Rs 203.80.
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