Power Grid vs CESC: share price, P/E, ROE and financials compared
Power Grid Corporation of India
CESC
Power Grid and CESC at a glance
Power Grid and CESC are both listed in Power. Power Grid is the larger by market cap, at ₹2.4L Cr against ₹16,735 Cr for CESC (14.4 times as large). On valuation, CESC has the lower P/E (10.8× against 14.9×) and the lower price-to-book (1.34× against 2.26×). On returns and margins, Power Grid has the higher ROCE (11.2% against 10.0%), the higher ROE (15.7% against 12.2%) and the higher operating margin (82.3% against 23.0%). Over three years, CESC has faster 3-year sales growth (+9.2% against +0.6% a year) and faster 3-year profit growth (+4.7% against +1.1% a year). Power Grid carries less debt for its equity, with a debt-to-equity of 1.46× against 1.71×.
Key metrics, side by side
| Metric | Power GridPOWERGRID | CESCCESC |
|---|---|---|
| Price (₹) | 259.90 | 126.25 |
| Market cap (₹ Cr) | 2,41,723 | 16,735 |
| P/E | 14.9× | 10.8× (the lower figure, shaded) |
| P/B | 2.26× | 1.34× (the lower figure, shaded) |
| Dividend yield, trailing | 3.46% | 4.75% (the higher figure, shaded) |
| ROE | 15.7% (the higher figure, shaded) | 12.2% |
| ROCE | 11.2% (the higher figure, shaded) | 10.0% |
| Operating margin (OPM) | 82.3% (the higher figure, shaded) | 23.0% |
| Net margin (NPM) | 34.2% (the higher figure, shaded) | 8.1% |
| Sales CAGR 3Y | +0.6% | +9.2% (the higher figure, shaded) |
| Profit CAGR 3Y | +1.1% | +4.7% (the higher figure, shaded) |
| Debt to equity | 1.46× (the lower figure, shaded) | 1.71× |
| Interest cover | 2.8× | 2.4× |
| Net profit TTM (₹ Cr) | 16,196 | – |
| 1Y return | −6.4% (the higher figure, shaded) | −28.5% |
| Promoter holding | – | – |
Power Grid vs CESC: common questions
Which is bigger, Power Grid or CESC?
By market cap, Power Grid is bigger at ₹2.4L Cr, against ₹16,735 Cr for CESC (prices as of 6 Nov 2026).
Which has a lower P/E ratio, Power Grid or CESC?
Power Grid trades at a P/E of 14.9× and CESC at 10.8×. CESC has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Power Grid or CESC?
Power Grid reports a return on equity of 15.7% and CESC 12.2%. Power Grid has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Power Grid or CESC?
Over the last three years: Sales grew +0.6% a year at Power Grid and +9.2% at CESC, so CESC grew sales faster; profit grew +1.1% a year at Power Grid and +4.7% at CESC, so CESC grew profit faster. Past growth doesn’t predict future growth.