Kolkata-based power stock up 19% in a month; brokerages see more upside post Q4 results

Shares of Kolkata-based CESC Ltd declined 0.35% to Rs 185.90 in Wednesday’s trade on the BSE, taking a minor breather. Over the past one month, the stock has surged around 19%.

Q4 numbers

According to exchange filings submitted to the exchanges post market, the company’s consolidated revenue from operations stood at Rs 4,096 crore. The net profit came in at Rs 439 crore against Rs 374 crore in the same period last year.

Meanwhile, Kolkata distribution business reduced to all-time low transmission and distribution (T&D) loss of 6.11% in FY26.  

CESC target price and ratings

Following the earnings print, brokerages have maintained a bullish stance on the stock, citing the company's renewable energy pipeline and the financial numbers.

ICICI Securities maintained a 'Buy' rating and raised its target price to Rs 220 per share, hinting at upside potential of 18% from current levels. The brokerage noted that the Q4 performance was significantly lifted by the newly acquired Chandigarh DISCOM and lucrative power tie-ups. 

"CESC reported a Q4FY26 EBITDA of INR 12bn (+23% YoY) and a profit of INR 4.4bn (+18% YoY), aided by: a) acquisition of Chandigarh DISCOM and b) new power tie-up at attractive prices for Chandrapur thermal power plant," ICICI Securities said. 

 JM Financial also retained its 'Buy' call, bumping up the target price to Rs 214 per share. "Management says West Bengal is poised for significant industrial development leading to higher power demand, benefitting Kolkata operations," JM Financial said. 

The brokerage also pointed out the recovery in the Malegaon distribution franchisee, where T&D losses reduced to 36.3%. 

PL Capital kept its 'Buy' tag with a revised target price of Rs 216 per share. "CESC delivered a strong close to FY26... confirming the double-digit earnings recovery that was anticipated through the year," PL Capital said in its note.