CESC Limited — Interim / Quarterly Report 2025

Aug 9, 2024

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DOC:SEC:1105/2024-25/140 August 9, 2024

National Stock Exchange of India Limited Exchange Plaza, 5[th] Floor, Plot No. C/1, G- Block, Bandra – Kurla Complex, Bandra (East), Mumbai – 400 051 SCRIP CODE: CESC

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 SCRIP CODE: 500084

Dear Sir / Madam,

Sub: Investors Update

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in continuation to our earlier communication sent today for filing the Unaudited Financial Results (both on Standalone and Consolidated basis) for the quarter ended June 30, 2024, we hereby attach the copy of Investors Update being issued by the Company in this regard.

The said Investors Update will be available on the Company’s website at www.cesc.co.in.

This is for your information and records.

Thanking you

Yours faithfully, For CESC Limited

Digitally signed by JAGDISH JAGDISH PATRA PATRA Date: 2024.08.09 18:48:28 +05'30'

Jagdish Patra Company Secretary & Compliance Officer

Encl: As above

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Investor Update – Q1 FY25

RP-Sanjiv Goenka Group

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Too Yumm is a ,
Committed to powering millions of Indian homes captivating consumers with its
Group turnover of and businesses with reliable electricity through its Playing in the . category with brands like
~US$4.4 Bn [] Naturali and Within Beauty.
EBITDA of Asset base of Inspiring communities, unite fans, set new
A global player and a national leader with portfolio of benchmarks, foster championship culture,
~US$855 Mn [] >US$7.3 Billion [] contribute to the
Over
1.1 Million Shareholders Domain driven BPM services company leveraging a Step into a world of unparalleled luxury. Quest,
approach to solve key the first of its kind in Eastern India, curates
customer problems for 150+ global clients.
One of India’s Strong workforce of
Diversified and innovative media company, with music
New-age And 50,000+ catalogue that spans the gamut from the India’s producer of rubber & South India’s
employees, belonging to and a strong video second largest cultivator of tea
fastest growing play, spread across making Films, TV serials, OTT series
conglomerates [#] different nationalities [#] and short video content catering to the youth.
Presence in
100+ offices Nature's Basket is India's
dedicated to helping its
60 + countries [#] worldwide [#] with international food products readers succeed big in business through best-in-class
Spencer is an experience led
storytelling.
with varied assortments
All figures as on FY24
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CESC Investor Presentation Q1FY25

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CESC: Powering millions of Indian homes and businesses

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NPCL Grater
India’s first fully integrated electrical Serves 4.4 million+ customers  2,140 MW generating stations Noida
CESC Rajasthan,
utility company (since 1899) with across 6 locations in India meeting bulk of the power Bikaner
business interest in generation & offering best in class requirements for Kolkata and CESC Rajasthan,
Bharatpur
distribution of power & customer service . NPCL license area.
Headquartered in Kolkata.
Asansol 40MW
(TPP)
Sole electricity distributor in • Distributes power in Greater Planned Investments in
Kolkata and Howrah, serving 3.5 million consumers and Noida km). , Uttar Pradesh (335 sq. 3GW Renewable Hybrid energy Renewable generation over : Haldia Energy Limited, Haldia 600 MW TPP
commercial users.  Emerged as highest bidder to next 4 to 5 years CESC, Kolkata 885 MW TPP
acquire 100% stake in CESC Rajasthan,
Chandigarh Discom Kota Dhariwal Infrastructure
Limited, Chandrapur 600
MW TPP
Crescent Power
Distribution Franchisee in Features among top 100% utilization of ash in Limited, Ramnad
Rajasthan (Kota, Bharatpur, performing power plants in an environmentally MPSL, Malegaon 18 MW Solar
Bikaner) and Maharashtra the country- BBGS & Haldia friendly manner.
(Malegaon).
Distribution Thermal Power Solar Power
Key Metrics
( Revenue)
Distribution Licenses
consumers
(EBITDA)
Distribution Franchisee (Consolidated sales) Net Worth
(Consolidated)
(Consolidated)
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CESC Investor Presentation Q1FY25

Note: Numbers are as on FY24.

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Indian Power Sector Trends

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(in GW)

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8
194 445
243
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Thermal Nuclear Renewables Source: CEA

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108
445
233
105
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State Central Private
Source: CEA
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Demand (BU)
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1982
1624
1492
1389 1381
2020 2021 2022 2023 2027E
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Capacity Addition(GW)

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25.9
1.4
17.3
16.6
12 18.5
15.5
15.3
7.4
0.1
0.5
5.9
4.1 0.5 0.1
1.4 1.2
FY21 FY22 FY23 FY24
Thermal Hydro Renewable Nuclear
Source: CEA
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Per Capita Power Consumption (Kwh)

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3664
3343 3399
3044
India
1327
1122 1208 World
779
2010 2017 2020 2023
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Renewable Capacity addition(GW)

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18.5
15.5 15.3 0.4
0.4 0.2
7.4 15
0.4 12.8
13.9
5.5
3.3
1.6 1.1 2.3
FY21 FY22 FY23 FY24
Wind Solar Other RE
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CESC Investor Presentation Q1FY25

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Consolidated Performance – Q1 FY25

FY24	FY23	% Change
15,544	14,555	6.8%
4,134	3,734	10.7%
1,447	1,397	3.6%

	Q1 FY25	Q1 FY25	Q1 FY24	Q1 FY24	% Change
Gross Revenue (Rs Cr.)	4,918		4,369		12.6%
EBITDA (Rs Cr.)	1,115		1,047		6.5%
PAT (Rs Cr.)	388		368		5.4%
Standalone Performan
		Q1 FY25	Q1 FY24	% Change
Generation (MU)		1,715	1,786	(3.9%)
Power Purchase (MU)		2,255	1,934	16.6%
Total Sales (MU) ( incl. export & banking)		3,551	3,274	8.4%
Gross Revenue (Rs Cr.)		2,881	2,546	13.2%
EBITDA (Rs Cr.)		656	575	14.1%
PAT (Rs Cr.)		192	170	12.9%

Standalone Performance – Q1 FY25

FY24	FY23	% Change
6,376	5,966	6.9%
6,253	5,745	8.8%
11,149	10,362	7.6%
8,729	8,153	7.1%
2,381	2,144	11.1%
775	830	(6.6%)

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CESC Investor Presentation Q1FY25

Key Subsidiaries Financial Performance

	Q1 FY25	Q1 FY25	Q1 FY25							FY23	FY23	FY23
				Q1 FY24			FY24
												PAT
	Revenue	EBITDA	PAT	Revenue	EBITDA	PAT	Revenue	EBITDA	PAT	Revenue	EBITDA
CESC Ltd (Consolidated)	4,918	1,115	388	4,369	1,047	368	15,544	4,134	1,447	14,555	3,734	1,397
CESC Standalone	2,881	656	192	2,546	575	170	8,729	2,381	775	8,153	2,144	830
Noida Power	755	76	37	636	96	54	2,478	332	169	2,325	305	161
Haldia Energy Ltd	481	214	84	539	196	62	2,000	787	254	1,987	747	261
Dhariwal Infrastructure Ltd	526	181	112	516	153	79	1,933	576	283	1,918	550	244
Crescent Power	47	18	11	51	28	20	208	112	80	177	55	33
Rajasthan DF	650	27	6	570	37	17	1,936	84	13	1854	42	(24)
Malegaon DF	165											(77)
		(39)	(42)	154	(31)	(33)	670	(83)	(95)	608	(67)

* All Figures in Rs Crs.

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CESC Investor Presentation Q1FY25

Key Developments - Q1 FY25

• Consolidated Revenue increased by 12.6% to Rs. 4,918 crs in Q1FY25, while consolidated PAT increased to Rs. 388 crs in Q1FY25 as against Rs. 368 crs in Q1FY24

• CESC continued to report a strong growth in power demand across the circles during the quarter. Kolkata Distribution business witnessed 8% YoY demand growth during Q1FY25

• CESC Kolkata Distribution started recovery of Fuel and Power Purchase adjustment Surcharge (FPPAS) arising on account of variation in the price of fuel and power purchase cost from June 2024

• Noida Power (NPCL) reported sales of 1,012 MU during Q1 FY25, registering a YoY growth of 26.4%

• Rajasthan DFs remained EBITDA positive and reported consolidated YoY sales growth of 5% during the quarter

• Malegaon DF reported sales volume of 190 MU during the quarter

• Chandrapur TPP continued with a strong financial performance backed by substantial tie up of its total capacity and higher prices in the energy exchanges during the quarter. PLF during the quarter stood at 93.5%. Haldia TPP continued with steady supplies to Kolkata distribution business

• 3GW Renewable Foray Green energy initiatives have gained significant momentum both on solar and wind. For WindFramework agreement signed with both Inox Wind and Suzlon Energy. For Solar- Land acquisition and CTU connectivity process has gained pace on multiple sites

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CESC Investor Presentation Q1FY25

Significant Advances in Green Energy

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Substantial investments in Renewables Energy generation space up to 3GW Hybrid Portfolio under Purvah Green Power Private Limited ("Purvah")

Applied CTU connectivity for 2675 MW renewables which is expected to be granted by Q3FY25

3975 MW of wind and solar sites pipeline under evaluation for project development

Binding framework agreement with Inox Wind Ltd for a 1.5 GW of wind turbines to be commissioned over 2-4 years

Agreement with Suzlon Energy for Wind turbine Supply , EPC and O&M to be commissioned over next 2-4 years

Acquired 100% stake in M/s Bhadla 3 SKP Green Ventures Pvt. Ltd. Under Purvah for developing a solar park - 300 MW with land and CTU connectivity in Rajasthan

In advanced stages of acquisition of land capable of developing 300 MW Solar , along with required CTU connectivity

10,500 MT/annum of Green Hydrogen Production facility expected to be commissioned within 3 yrs under CESC Projects Limited, a wholly owned subsidiary of CESC Limited which has been selected as the successful bidder

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CESC Investor Presentation Q1FY25

Performance of Generation Assets

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Budge Budge- BBGS Haldia (TPP) (TPP)

Installed Capacity 3 250 2300

(MW)

Chandrapur (TPP)

2*300

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Crescent Southern- SGS (TPP) (TPP) 2*67.5 40 MW

• 100 MW - TANGEDCO PPA Tied CESC, Kolkata CESC, Kolkata • 187 MW - NPCL CESC, Kolkata Short Term Supply - Competitive (embedded generation) • 210 MW - Central Railways •• CIL LinkageCoal Mine • CIL Linkage • CIL Linkage • CIL Linkage • Coal Washery Fuel Type • E-auction • e-auction • e-auction • e-auction Rejects Generation 5,735 (FY24) 4,564 (FY24) 4,422 (FY24) 641 (FY24) 336 (FY24) (MUs) 5,331 (FY23) 4,219 (FY23) 4,229 (FY23) 636 (FY23) 334 (FY23)

Fuel Type

Generation

PLF 87% (FY24) 81% (FY23) 87% (FY24) 80% (FY23)

54% (FY24) 54% (FY23)

CESC Investor Presentation Q1FY25

96% (FY24) 95% (FY23)9

84% (FY24) 80% (FY23)

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Generation Business – Operational Performance

	Capacity (MW)	Q1 FY25	Q1 FY25	Q1 FY24	Q1 FY24	FY24	FY24	FY23	FY23
		Sent Out Units (MU)	PLF %	Sent Out Units (MU)	PLF %	Sent Out Units (MU)	PLF %	Sent Out Units (MU)	PLF %
Budge Budge Generating Station	750	1,363	90%	1,415	94%	5,296	87%	4,910	81%
Southern Generating Station	135	217	81%	232	87%	582	54%	581	54%
Haldia Energy	600	942	78%	1,135	94%	4,221	87%	3,868	80%
Dhariwal Infrastructure	600	1,141	94%	1,097	90%	4,112	84%	3,913	80%
Crescent Power	40	60	77%	75	97%	299	96%	295	95%
Solar (TN)	18	7	22%	7	22%	26	21%	26	21%

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CESC Investor Presentation Q1FY25

Performance of Distribution Business

CESC Kolkata

Noida

Rajasthan

Malegaon

Distribution Contract Licensee Licensee Input Based Franchisee Input Based Franchisee 335 381 Area (sq. km) 567 57 36 lakhs (FY24) 1.62 lakhs (FY24) 5.2 lakhs (FY24) 1.3 lakhs (FY24) Consumer Base 35 lakhs (FY23) 1.35 lakhs (FY23) 5 lakhs (FY23) 1.3 lakhs (FY23) 2600+ MW 652+MW Peak Load (MW) 600+MW 200+MW Units Sold (incl. export & 11,149 (FY24) 3,136 (FY24) 2,400 (FY24) 830 (FY24) banking) 10,362 (FY23) 2,870 (FY23) 2,461 (FY23) 782 (FY23) 8,729 (FY24) 2,478 (FY24) 1,936 (FY24) 670 (FY24) Revenue (Rs Cr.) 8,153 (FY23) 2,325 (FY23) 1,854 (FY23) 608 (FY23) 6.89% (FY24) 7.48% (FY24) 10-14% (FY24) 39% (FY24) T&D Loss % 7.27% (FY23) 7.63% (FY23) 11-15% (FY23) 39% (FY23) 11 11 11

CESC Investor Presentation Q1FY25

Distribution Business– Operational Performance

	Q1 FY25	Q1 FY25	Q1 FY25	Q1 FY24	Q1 FY24	Q1 FY24	FY24	FY24	FY24	FY23	FY23	FY23
	Sales (MU)	T&D Loss %	Revenue (Rs. Crs)	Sales (MU)	T&D Loss %	Revenue (Rs. Crs)	Sales (MU)	T&D Loss %	Revenue (Rs. Crs)	Sales (MU)	T&D Loss %	Revenue (Rs. Crs)
CESC Kolkata	3,551	7.38%	2,881	3,275	7.46%	2,546	11,149	6.89%	8,729	10,362	7.27%	8,153
Noida Power	1,012	9.49%	755	801	9.47%	636	3,136	7.48%	2,478	2,870	7.63%	2,325
Kota DF	421	14.53%	344	442	12.30%	327	1329	14.25%	1,021	1432	14.83%	1,014
Bharatpur DF	99	10.87%	78	84	10.25%	64	295	10.16%	228	284	11.54%	212
Bikaner DF	257	12.1%	227	213	10.87%	179	775	12.47%	687	744	13.21%	628
Malegaon DF	190	42.71%	165	194	41.41%	154	830	39.1%	670	782	39.1%	608

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CESC Investor Presentation Q1FY25

Standalone Financial Performance

In ₹ Crs	Q1 FY 2025	Q4 FY 2024	Q1 FY 2024	FY 2024	FY 2023
Revenue from Operations	2,860	1,814	2,525	8,606	7,973
Other Income	21	33	21	123	180
Regulatory Income (net)	561	507	210	1,496	787
Total Revenue	3,442	2,354	2,856	10,225	8,940
Cost of Electricity Purchased	1,595	652	1,105	3,527	3,126
Cost of Fuel(incl. Purchase of stock in trade)	571	438	541	2,088	1,678
Employee Benefit Expense	244	230	257	991	983
Other Operating Expense	376	461	278	1,238	1,009
Operating EBITDA	656	573	575	2,381	2,144
Finance Cost	207	205	181	739	604
Depreciation and amortization expense	175	183	179	720	480
Profit Before Tax	274	185	215	922	1,060
Taxes	82	(20)	45	147	230
Profit After Tax	192	205	170	775	830

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CESC Investor Presentation Q1FY25

Consolidated Financial Performance

In ₹ Crs	Q1 FY 2025	Q4 FY 2024	Q1 FY 2024	FY 2024	FY 2023
Revenue from Operations	4,863	3,387	4,310	15,293	14,246
Other Income	55	73	59	251	309
Regulatory Income (net)	689	572	264	1,757	1,276
Total Revenue	5,607	4,032	4,633	17,301	15,831
Cost of Electricity Purchased	2,543	1,028	1,639	5,588	5,164
Cost of Fuel(incl. Purchase of stock in trade)	1,090	1,011	1,185	4,390	3,981
Employee Benefit Expense	303	285	305	1,213	1,189
Other Operating Expense	556	653	457	1,976	1,763
Operating EBITDA	1,115	1,055	1,047	4,134	3,734
Finance Cost	322	325	308	1,234	1,117
Depreciation and amortization expense	301	311	300	1,217	878
Profit Before Tax	492	419	439	1,683	1,739
Taxes	104	4	71	236	342
Profit After Tax	388	415	368	1,447	1,397

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CESC Investor Presentation Q1FY25

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Cautionary Statement

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Statement in this “ Investor Update” describing the Company’s objectives, projections, estimates, expectations or predictions may be “ forward looking statements” within the meaning of applicable securities law and Actual results could differ from those or regulations. materially expressed implied. Important factors that could make a difference to the Company’s operations include demand supply conditions, finished goods prices, availability and prices of raw materials, changes in the government regulations, tax regimes, economic development within India and the countries within which the Company conducts business and other factors such as litigations and labour negotiations

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: Company Details

CESC Limited

Head Office: CESC House, Chowringhee Square, Kolkata - 700001

Investor Enquiries:

Mr. Saket Sah, Group Head- Investor Relations & ESG Reporting Email- saket.sah@rpsg.in

Mobile- 9702027569

Mr. Pankaj Kedia, Vice-President - Investor Relations Email- pankaj.kedia@rpsg.in

Mobile- 9874484000

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CESC Investor Presentation Q1FY25

Numerous Legacies Continuous Growth

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Years
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THE WORLD’S NO.1 CELEBRITY MAGAZINE
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CESC Investor Presentation Q1FY25