ACME Solar Holdings Ltd

ACME Solar Holdings Ltd

₹ 241 1.26%
21 May 11:54 a.m.
About

Incorporated in 2015, ACME Solar Holdings is a renewable energy company in India with a portfolio of solar, wind, hybrid, and firm and
dispatchable renewable energy (“FDRE”) projects.[1]

Key Points

Leading Power Producer[1]
ACME Solar Holdings is one of India's largest renewable energy-independent power producers (“IPP”) and among India's top 10 renewable energy players in terms of operational capacity as of June 30, 2024.

Integrated Renewable Energy Projects[1]
- Portfolio Diversity: ACME Solar operates across multiple renewable technologies, such as solar, wind, and hybrid energy systems, along with FDRE, which provides firm, on-demand power through energy storage.
- Geographic Reach: Projects are distributed across 10 Indian states, chosen for their renewable energy potential.[2]
- Power Purchase Agreements (PPAs): Long-term contracts, typically spanning 25 years, with government and private entities, ensure a stable cash flow and mitigate demand risk. Most PPAs include fixed tariff rates, reducing revenue volatility.

End-to-End Project Lifecycle Management[3]
- Project Development: ACME Solar manages all project phases in-house, from land acquisition, engineering, procurement, and construction (EPC) to operations and maintenance (O&M).
- EPC and O&M Capabilities: The company’s in-house teams handle EPC and O&M functions, allowing them to control costs, monitor real-time performance, and minimize reliance on third-party contractors.
- Energy Storage and Dispatchable Solutions: FDRE projects include storage components (battery or pumped hydro), allowing ACME to deliver power during peak demand periods, complementing intermittent energy sources.[4]

  • Market Cap 14,564 Cr.
  • Current Price 241
  • High / Low 292 / 168
  • Stock P/E 77.5
  • Book Value 75.3
  • Dividend Yield 0.08 %
  • ROCE 7.49 %
  • ROE 5.18 %
  • Face Value 2.00

Pros

Cons

  • Stock is trading at 3.23 times its book value
  • Company has a low return on equity of 0.20% over last 3 years.
  • Earnings include an other income of Rs.161 Cr.
  • Working capital days have increased from -143 days to 153 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
139 82 190 369 435 279 269
141 102 209 157 365 274 287
Operating Profit -2 -19 -19 212 70 5 -19
OPM % -1% -23% -10% 57% 16% 2% -7%
73 74 565 35 37 50 39
Interest 46 45 43 44 48 47 37
Depreciation 0 0 0 0 0 0 0
Profit before tax 25 10 503 203 59 8 -16
Tax % -18% 98% 20% 25% 22% 80% -35%
30 0 404 152 46 2 -11
EPS in Rs 2.84 0.02 38.65 2.91 0.87 0.02 -0.18
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
183 759 469 471 1,352
139 720 496 527 1,084
Operating Profit 44 39 -27 -56 269
OPM % 24% 5% -6% -12% 20%
145 298 132 753 161
Interest 171 192 153 180 176
Depreciation 0 0 0 0 0
Profit before tax 18 145 -48 518 253
Tax % -35% -0% -38% 19% 25%
24 145 -30 420 189
EPS in Rs 2.32 13.92 -2.90 40.17 3.12
Dividend Payout % 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 21%
TTM: 187%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 55%
TTM: 285%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: 0%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 104 104 104 104 121
Reserves 2,063 2,208 2,178 2,598 4,437
1,795 1,754 1,674 1,702 2,477
398 578 1,276 1,686 1,656
Total Liabilities 4,360 4,645 5,233 6,091 8,691
0 0 0 1 2
CWIP 0 0 0 0 0
Investments 3,106 2,810 4,162 4,265 4,973
1,254 1,835 1,070 1,825 3,716
Total Assets 4,360 4,645 5,233 6,091 8,691

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-35 47 716 -690 395
832 415 -765 737 -2,976
-724 -281 -177 52 2,803
Net Cash Flow 73 182 -226 100 223

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 26 32 11 0 1
Inventory Days 0 0
Days Payable
Cash Conversion Cycle 26 32 11 0 1
Working Capital Days 1,455 428 -468 -115 153
ROCE % 2% 2% 2% 7%

Shareholding Pattern

Numbers in percentages

Dec 2024Mar 2025
83.41% 83.41%
5.54% 4.74%
6.97% 7.09%
4.07% 4.75%
No. of Shareholders 1,99,3942,15,043

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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