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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

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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 MKTNIFTY 500NIFTY SMLCAP 250
S.No.Name
1.ADANIPOWER209.8528.39404689.320.004866.6047.2418901.8933.9717.7942.67
2.NTPC333.3011.64323189.882.706896.44-88.7150740.967.818.5233.23
3.POWERGRID269.1015.74250279.253.343598.42-0.8911496.722.689.7482.97
4.ADANIGREEN1282.00118.37211167.980.00983.0019.304431.0016.619.9091.24
5.ADANIENSOL1373.7557.55168003.370.0012365.602194.4397110.801324.069.7131.27
6.TATAPOWER365.0030.19116629.890.681400.8610.9819051.265.6311.6321.53
7.JSWENERGY525.4548.9796340.350.38532.70-36.275207.131.248.5055.22
8.NHPC76.3020.1976643.622.111178.094.153808.3118.506.1661.80
9.NTPCGREEN86.90120.6473224.800.00304.8438.261106.8662.723.7391.95
10.TORNTPOWER1298.2028.1565416.761.54661.85-10.758124.152.7514.3718.93
11.NLCINDIA264.2511.4236641.871.46436.33-48.014716.7523.2911.2732.83
12.ACMESOLAR401.8547.0728405.750.05235.3379.88857.5067.819.2385.63
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
323332295310260349487511468497548858
3454943839425153685269622
Operating Profit289277201272221307436458400444479235
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%
7339719303645385713812017196
Interest200202177196178179206233265288337344
Depreciation868561566070102108117120123155
Profit before Tax77296815018103166174156156190331
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 Profit000015112122131115114138235
0.690.809.570.030.292.092.152.161.901.882.303.71

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
2921,0961,6721,7771,6921,4881,2951,3191,4052,0232,369
86212220129139247122230170242811
Operating Profit2078841,4521,6491,5531,2401,1731,0891,2351,7811,558
OPM %70.69%80.65%86.86%92.77%91.79%83.37%90.56%82.56%87.93%88.04%65.77%
299013082218404106896149486526
Interest1966511,0181,2371,1519968097677591,1231,234
Depreciation116368571704622546485308287468515
Profit before Tax-75-44-6-211-1102-15909338677834
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-68-240-47861562-3698251498602
EPS-7.56-24.55-4.507.731.371.12-0.0666.814.178.24—
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

Corporate actions

2026

Feb 6

₹ 0.10

Rs.0.2000 per share(10%)Interim Dividend

2025

May 2

₹ 0.10

Rs.0.2000 per share(10%)Interim Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital90104104104104104104104121121
Minority Interest00000100300-1-1
-561,0531,0061,0881,1031,1541,1461,8364,3654,851
7,5619,3659,86011,2999,9188,4619,90010,06712,55621,362
Trade Payables5333450150273627422515
6412,0503,2012,8141,0716346971,1268741,797
Total Liabilities8,24212,60514,20515,35512,34510,72711,93913,20718,14028,145
4,1127,99110,5769,6508,9846,1776,6316,75712,31415,732
Capital Work in Progress1,09950553220971,2732,1472,8281,3624,358
98000252523150275275
00000000417
0000000421381333
Cash & Bank2592,2751,6046609437631,3381,3152,9166,158
2,6731,8341,9734,8262,2962,4891,8001,7368881,273
Total Assets8,24212,60514,20515,35512,34510,72711,93913,20718,14028,145

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
3907489669431,7439811,3181,4341,5431,249
Cash from Investing-5,663-2,650-1,181-1,426493-374-1,410-1,731-3,976-7,317
Cash from Financing5,5162,186103474-2,040-5562152163,4087,015
240263-139-312002569-81975947

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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

Shareholding Pattern

Numbers in percentages

Mar 2017Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
100.0083.4183.4183.4183.4183.2983.2971.40
0.005.544.745.765.574.033.604.39
0.006.977.096.616.396.877.0519.10
Government0.000.000.000.000.000.000.000.00
Public0.004.084.754.224.625.806.065.11

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

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