Acme Solar Holdings Ltd.

•

acmesolar.inBSE: 544283NSE: ACMESOLAR

Market Cap₹ 28,406 Cr.

Current Price

High / Low₹ 430 / 196

Stock P/E47.1

Book Value₹ 113

Price to Book3.18

Dividend Yield0.05 %

ROCE9.2 %

ROE10.5 %

Face Value₹ 2

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Company has delivered good profit growth of 100.9% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 20.7%
Latest quarter profit grew 79.9% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.92x)
Institutional investors have been accumulating - FII+DII up 11.1pp

CONS

Company has a high debt-to-equity of 3.82x
A large part of profit comes from other income (71.5% of PBT)
Company has a low return on capital employed of 11.2%
Interest coverage is weak at 1.6x - earnings barely cover interest
Free cash flow has been persistently negative
Total debt has risen sharply - up 82.2% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	ADANIPOWER	209.85	28.39	404689.32	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	333.30	11.64	323189.88	2.70	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	269.10	15.74	250279.25	3.34	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1282.00	118.37	211167.98	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1373.75	57.55	168003.37	0.00	12365.60	2194.43	97110.80	1324.06	9.71	31.27
6.	TATAPOWER	365.00	30.19	116629.89	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	525.45	48.97	96340.35	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.30	20.19	76643.62	2.11	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	86.90	120.64	73224.80	0.00	304.84	38.26	1106.86	62.72	3.73	91.95
10.	TORNTPOWER	1298.20	28.15	65416.76	1.54	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	264.25	11.42	36641.87	1.46	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	ACMESOLAR	401.85	47.07	28405.75	0.05	235.33	79.88	857.50	67.81	9.23	85.63

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	323	332	295	310	260	349	487	511	468	497	548	858
	34	54	94	38	39	42	51	53	68	52	69	622
Operating Profit	289	277	201	272	221	307	436	458	400	444	479	235
OPM %	89.56%	83.58%	67.99%	87.75%	85.04%	88.02%	89.50%	89.59%	85.56%	89.46%	87.40%	27.43%
	73	39	719	30	36	45	38	57	138	120	171	96
Interest	200	202	177	196	178	179	206	233	265	288	337	344
Depreciation	86	85	61	56	60	70	102	108	117	120	123	155
Profit before Tax	77	29	681	50	18	103	166	174	156	156	190	331
Tax %	50.07%	-55.26%	21.85%	97.23%	15.70%	-8.41%	26.58%	24.98%	26.32%	27.24%	27.20%	29.00%
Net Profit	0	0	0	0	15	112	122	131	115	114	138	235
	0.69	0.80	9.57	0.03	0.29	2.09	2.15	2.16	1.90	1.88	2.30	3.71

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	292	1,096	1,672	1,777	1,692	1,488	1,295	1,319	1,405	2,023	2,369
	86	212	220	129	139	247	122	230	170	242	811
Operating Profit	207	884	1,452	1,649	1,553	1,240	1,173	1,089	1,235	1,781	1,558
OPM %	70.69%	80.65%	86.86%	92.77%	91.79%	83.37%	90.56%	82.56%	87.93%	88.04%	65.77%
	29	90	130	82	218	404	106	896	149	486	526
Interest	196	651	1,018	1,237	1,151	996	809	767	759	1,123	1,234
Depreciation	116	368	571	704	622	546	485	308	287	468	515
Profit before Tax	-75	-44	-6	-211	-1	102	-15	909	338	677	834
Tax %	8.97%	-443.80%	-706.09%	140.65%	1471.78%	39.46%	79.39%	23.27%	25.80%	26.44%	27.76%
Net Profit	-68	-240	-47	86	15	62	-3	698	251	498	602
EPS	-7.56	-24.55	-4.50	7.73	1.37	1.12	-0.06	66.81	4.17	8.24	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.80%	2.43%	—

COMPOUNDED SALES GROWTH

10 Years:: 195%
5 Years:: 4%
3 Years:: 16%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 101%
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 29%

RETURN ON EQUITY

10 Years:: -4%
5 Years:: 13%
3 Years:: 21%
Last Year:: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	90	104	104	104	104	104	104	104	121	121
Minority Interest	0	0	0	0	0	100	30	0	-1	-1
	-56	1,053	1,006	1,088	1,103	1,154	1,146	1,836	4,365	4,851
	7,561	9,365	9,860	11,299	9,918	8,461	9,900	10,067	12,556	21,362
Trade Payables	5	33	34	50	150	273	62	74	225	15
	641	2,050	3,201	2,814	1,071	634	697	1,126	874	1,797
Total Liabilities	8,242	12,605	14,205	15,355	12,345	10,727	11,939	13,207	18,140	28,145
	4,112	7,991	10,576	9,650	8,984	6,177	6,631	6,757	12,314	15,732
Capital Work in Progress	1,099	505	53	220	97	1,273	2,147	2,828	1,362	4,358
	98	0	0	0	25	25	23	150	275	275
	0	0	0	0	0	0	0	0	4	17
	0	0	0	0	0	0	0	421	381	333
Cash & Bank	259	2,275	1,604	660	943	763	1,338	1,315	2,916	6,158
	2,673	1,834	1,973	4,826	2,296	2,489	1,800	1,736	888	1,273
Total Assets	8,242	12,605	14,205	15,355	12,345	10,727	11,939	13,207	18,140	28,145

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	390	748	966	943	1,743	981	1,318	1,434	1,543	1,249
Cash from Investing	-5,663	-2,650	-1,181	-1,426	493	-374	-1,410	-1,731	-3,976	-7,317
Cash from Financing	5,516	2,186	103	474	-2,040	-556	215	216	3,408	7,015
	240	263	-139	-31	200	25	69	-81	975	947

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Mar 2017	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	100.00	83.41	83.41	83.41	83.41	83.29	83.29	71.40
	0.00	5.54	4.74	5.76	5.57	4.03	3.60	4.39
	0.00	6.97	7.09	6.61	6.39	6.87	7.05	19.10
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	0.00	4.08	4.75	4.22	4.62	5.80	6.06	5.11

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Acme Solar Holdings Limited has informed the Exchange about approval of Incorporation of a wholly-owned subsidiary company in United Arab Emirates

2026-09-07

Copy of Newspaper Publication

2026-09-07 - Acme Solar Holdings Limited has informed the Exchange about Newspaper Publication titled "Notice of 11th Annual General Meeting and E- Voting information"

2026-09-03

General Updates

2026-09-03 - Acme Solar Holdings Limited has informed the Exchange about General Updates

2026-09-03

Updates

2026-09-03 - Acme Solar Holdings Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for FY 2025-26'.

2026-09-03

Shareholders meeting

2026-09-03 - Acme Solar Holdings Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026

2026-09-02

Copy of Newspaper Publication

2026-09-02 - ACME Solar Holdings Limited has informed the Exchange about Submission of Newspaper Advertisement Information of 11th Annual General Meeting

2026-09-01

Appointment

2026-09-01 - ACME Solar Holdings Limited has informed the Exchange regarding Appointment of M/s. BSR & Co. LLP as joint Statutory Auditor of the company w.e.f. April 01, 2026.

2026-09-01

Outcome of Board Meeting

2026-09-01 - Outcome of Board Meeting

2026-08-28

Bagging/Receiving of orders/contracts

2026-08-28 - Acme Solar Holdings Limited has informed the Exchange about receiving of Letter of Award.

News

Recent coverage and analyst commentary for ACMESOLAR

Loading news…

🤖

AI Stock Analyst

Acme Solar Holdings Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account