CESC Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

Investors weighing a CESC target price for 2027 should start with where the stock sits today. At Rs 130.79 on 9 October 2026, it is 36.0% below its 52-week high of Rs 204.50 and 1.9% above its 52-week low of Rs 128.31. That range spans 59% from low to high, so the entry point matters as much as the CESC price forecast itself.

This article builds the CESC share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 136 base case and the Rs 166 bull case were reached, along with a downside risk level of Rs 103.

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CESC Stock Analysis: Company Overview and Key Stats

CESC (NSE: CESC) has a market capitalisation of Rs 17,080 crore. In FY26 it reported revenue of Rs 18,927 crore and net profit of Rs 1,618 crore. The table collects the figures the CESC share price target is built on.

Metric	Value
Company	CESC
NSE Ticker	CESC
CMP (9 October 2026)	Rs 130.79
52-Week High	Rs 204.50
52-Week Low	Rs 128.31
Market Cap	Rs 17,080 crore
PE Ratio (TTM)	10.48
Industry PE	22.17
Price to Book	1.36
Return on Equity	12.31%
Debt to Equity	1.73
EPS (TTM)	Rs 12.30
Dividend Yield	4.68%
12-Month Base Target	Rs 136
Bull Case	Rs 166
Downside Risk Level (not a target)	Rs 103

Why Is CESC Share Price Target Set at Rs 136 for 2027?

The base-case CESC stock target of Rs 136 applies a PE multiple of 10.48 to a forward EPS estimate of Rs 13.02. That EPS assumes 5.9% yearly growth, the pace from FY24 to FY26, and puts the target 4.0% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the CESC Target Price: Five Years of Results

CESC grew revenue from Rs 12,827 crore in FY22 to Rs 18,927 crore in FY26, a compound annual growth rate of 10.2%. Net profit grew more slowly, from Rs 1,404 crore to Rs 1,618 crore (3.6% a year), which points to margin pressure alongside the sales growth.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	12,826.70	1,404.08	10.25	4.50
FY23	14,555.12	1,397.33	10.13	4.50
FY24	15,544.26	1,447.29	10.38	4.50
FY25	17,375.49	1,428.93	10.33	4.50
FY26	18,927.29	1,617.57	11.63	6.00

FY26 revenue growth was 8.9%, close to the four-year average of 10.2%, and net profit moved up 13.2%. EPS rose from Rs 10.38 in FY24 to Rs 11.63 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

CESC converted 8.5% of FY26 revenue into net profit, against 8.2% in FY25, within a five-year range of 8.2% to 10.9%. EBITDA margin was 24.9% in FY26 versus 24.8% in FY25.

In the June 2026 quarter, revenue was Rs 5,559 crore, up 5.2% from the same quarter a year earlier, while net profit of Rs 419 crore was up 3.7%. EBITDA came in at Rs 969 crore, up 2.3% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 1.73, and shareholders' equity grew from Rs 10,831 crore in FY22 to Rs 13,189 crore in FY26. Operating cash flow in FY26 was Rs 4,057 crore against capital expenditure of Rs 3,916 crore, leaving free cash flow of Rs 141.29 crore, or 0.8% of the current market capitalisation. In FY25 free cash flow was Rs 718.28 crore.

Valuation Check for the CESC Stock Target: PE, Price to Book and ROE

At a PE of 10.48 against an industry PE of 22.17, CESC trades at a discount to its industry. Price to book is 1.36 on a book value of Rs 94.52 per share, and return on equity is 12.31%. A PE of 10.48 equals an earnings yield of 9.5%, and the FY26 dividend of Rs 6.00 per share gives a yield of 4.68%.

Shareholding Pattern and Institutional Holding

Promoters held 52.11% of CESC in June 2026, and promoter holding has stayed near 52.11% since June 2025. Foreign institutional investors (FII) held 11.47% and domestic institutions (DII) held 26.14%, which puts total institutional holding at 37.61%. FII holding rose from 10.93% in June 2025 to 11.47% in June 2026. Public shareholders own the remaining 10.28%. A meaningful institutional holding adds a layer of research coverage and trading depth.

CESC Share Price Targets for the Short Term and 12 Months

Short Term CESC Stock Target Levels: Technical Setup

At Rs 130.79 on 9 October 2026, CESC trades below its 50-day simple moving average of Rs 149.59 and below its 200-day exponential moving average of Rs 159.76. The 14-day RSI reads 28.1, which is oversold territory, and the MACD line sits below its signal line. The nearest resistance level is Rs 149.59 (50-day simple moving average) and the nearest support is Rs 128.31 (52-week low). A sustained move above Rs 149.59 would improve the short-term setup, while a close below Rs 128.31 would shift attention to the next support.

12 Month CESC Target Price for 2027

The 12-month target for CESC is Rs 136: forward EPS of Rs 13.02 at a PE of 10.48. That is 4.0% above Rs 130.79. It would still leave the stock 33.5% below its 52-week high of Rs 204.50. The upside in the base case is thin, so the thesis here leans on the bull case and on patience.

How EPS Growth and PE Multiple Change the CESC Target Price

EPS Growth	PE 8.38	PE 10.48	PE 12.05
0.0% (EPS Rs 12.30)	Rs 103	Rs 129	Rs 148
5.9% (EPS Rs 13.02)	Rs 109	Rs 136	Rs 157
11.9% (EPS Rs 13.76)	Rs 115	Rs 144	Rs 166

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the CESC price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for CESC Stock Target in 2027

Bull Case Rs 166

The bull case CESC price target needs EPS growth of 11.9%, which lifts forward EPS to Rs 13.76, and a PE multiple that rises 15% to 12.05. That gives Rs 166, 26.9% above the current price and below the 52-week high of Rs 204.50.

Downside Risk Level Rs 103

The downside risk level is not a target. It assumes EPS stays flat at Rs 12.30 and the PE falls 20% to 8.38. That gives Rs 103, 21.2% below the current price and below the 52-week low of Rs 128.31.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	11.9%	12.05	Rs 166	+26.9%
Base Case	5.9%	10.48	Rs 136	+4.0%
Downside Risk	0.0%	8.38	Rs 103	-21.2%

Key Risks to the CESC Target Price for 2027

Growth Slowdown Risk for the CESC Price Target

Revenue in the June 2026 quarter was up 5.2% year on year, and FY26 revenue growth was 8.9%. If growth slows from here, the EPS estimate behind the CESC stock target will need revising.

Liquidity and Size Risk

CESC has a market capitalisation of Rs 17,080 crore. Institutional holding is 37.61%, and promoters hold 52.11%. Stocks of this size are usually liquid, though exits can take longer than entries when the market is falling.

Valuation and Margin Risk

Net margin was 8.5% in FY26, so a small slip in costs moves profit noticeably. At a PE of 10.48 versus an industry PE of 22.17, a de-rating toward the downside-risk PE of 8.38 would cut the price even if earnings hold.

Market and Technical Risk

The stock trades 36.0% below its 52-week high, with an RSI of 28.1 and a MACD reading below its signal line. Broader market weakness can override company fundamentals in the short term.

How to Invest in CESC

Start with the live price and volume. Any CESC share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 130.79 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check CESC's PE, ROE, debt and shareholding in one place.

Check CESC fundamentals on the Univest Screener

Then compare the three CESC target price scenarios with your own view. If you expect EPS growth below 5.9%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track CESC live price and get daily stock recommendations.

Conclusion

The CESC share price target for 2027 is Rs 136 in the base case, with Rs 166 as the bull case. The support for that view is arithmetic you can check: EPS grew 5.9% a year over FY24 to FY26, and the stock trades at a PE of 10.48. The risks are equally concrete, including a stock that sits 36.0% below its 52-week high and a downside scenario that cuts the price 21% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on CESC Share Price Target 2027

What is the CESC share price target for 2027?

Ans. The base-case CESC share price target for 2027 is Rs 136, with Rs 166 as the bull case. The downside risk level, which is not a target, is Rs 103. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.

What is the CESC share price today?

Ans. As of 9 October 2026, 12:52 PM IST, CESC trades at Rs 130.79, up 1.60% on the day. The 52-week range is Rs 128.31 to Rs 204.50.

Is CESC a buy or sell at the current price?

Ans. The data is mixed rather than one-sided: EPS has grown 5.9% a year over FY24 to FY26, but the stock is 36.0% below its 52-week high. Whether CESC fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.

What are the bull case target and downside risk level for CESC shares?

Ans. The bull case target is Rs 166, which assumes 11.9% EPS growth and a PE of 12.05. The downside risk level is Rs 103, which assumes flat EPS and a PE of 8.38. It marks a risk, not a target.

What are the main risks to the CESC price target?

Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 17,080 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.

What is the PE ratio of CESC and how does it compare with the industry?

Ans. The PE ratio of CESC is 10.48 against an industry PE of 22.17. Price to book is 1.36 and return on equity is 12.31%. The base case in the CESC price target holds this PE constant.

Who owns CESC, and what is the promoter holding?

Ans. Promoters held 52.11% of CESC in June 2026. FII held 11.47%, DII held 26.14% and the public held 10.28%.

What were CESC's latest quarterly results?

Ans. In the June 2026 quarter, CESC reported revenue of Rs 5,559 crore (up 5.2% year on year) and net profit of Rs 419 crore (up 3.7%).