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Acme Solar Holdings Ltd.

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acmesolar.inBSE: 544283NSE: ACMESOLAR
Market Cap₹ 28,438 Cr.
Current Price
High / Low₹ 430 / 196
Stock P/E61.7
Book Value₹ 110
Price to Book3.26
Dividend Yield0.05 %
ROCE9.5 %
ROE7.2 %
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 69.5% CAGR over last 5 years
  • Company has delivered good sales growth of 84.4% CAGR over last 5 years
  • Working capital cycle has improved - days down from 427 to 112
  • Institutional investors have been accumulating - FII+DII up 11.1pp

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • A large part of profit comes from other income (97.7% of PBT)
  • Company has a low return on capital employed of 11.3%
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.25x)
  • Contingent liabilities are large at 267.5% of net worth
  • Total debt has risen sharply - up 87.7% 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.ADANIPOWER214.5029.02413656.700.004866.6047.2418901.8933.9717.7942.67
2.NTPC333.2511.64323141.402.706896.44-88.7150740.967.818.5233.23
3.POWERGRID265.9515.56247349.563.383598.42-0.8911496.722.689.7482.97
4.ADANIGREEN1314.20121.34216471.890.00983.0019.304431.0016.619.9091.24
5.ADANIENSOL1421.9059.57173891.900.0012365.602194.4397110.801324.069.7131.27
6.TATAPOWER369.0030.52117908.030.681400.8610.9819051.265.6311.6321.53
7.JSWENERGY534.6549.8398027.150.37532.70-36.275207.131.248.5055.22
8.NHPC76.8020.3277145.872.101178.094.153808.3118.506.1661.80
9.NTPCGREEN88.02122.2074168.550.00304.8438.261106.8662.723.7391.95
10.TORNTPOWER1304.1528.2865716.581.53661.85-10.758124.152.7514.3718.93
11.NLCINDIA271.4511.7337640.251.42436.33-48.014716.7523.2911.2732.83
12.ACMESOLAR402.3047.1328437.550.05235.3379.88857.5067.819.2385.63
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
139821903694352792692833329172,3782,266
1411022091573652742873033598822,0702,195
Operating Profit-2-19-19212705-19-20-273630871
OPM %-1.30%-23.24%-10.07%57.48%16.13%1.66%-6.92%-7.11%-8.13%3.92%12.95%3.14%
737456535375039811358416292
Interest4645434448473760687610097
Depreciation000000000003
Profit before Tax2510503203598-1614144370163
Tax %-18.16%98.20%19.70%25.19%21.92%80.49%35.48%25.69%23.79%28.76%25.32%25.36%
Net Profit300404152462-1113132276122
0.530.007.262.910.870.03-0.410.010.520.524.571.92

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
111392111,2111837594694711,3523,9115,894
111351561,0531397204965271,0843,6145,506
Operating Profit-04551584439-27-56269297388
OPM %-3.72%2.99%26.14%13.08%24.03%5.08%-5.81%-11.83%19.86%7.60%6.58%
1234565145298132753161463474
Interest035113181171192153180176303340
Depreciation00000000013
Profit before Tax1-7-134218145-49518253457619
Tax %7.59%34.00%15.43%26.39%-35.08%-0.03%37.64%19.03%25.44%25.52%25.48%
Net Profit1-5-113124145-30420189340461
EPS0.08-0.50-1.022.782.1813.07-2.7240.173.125.62—
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%6.41%3.56%—

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
84%
3 Years:
103%

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
70%
3 Years:
—

STOCK PRICE CAGR

10 Years:
—
5 Years:
—
3 Years:
—
1 Year:
31%

RETURN ON EQUITY

10 Years:
5%
5 Years:
9%
3 Years:
12%
Last Year:
7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 2019Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital104104104121121
1,3581,5281,9484,4134,741
1,3072,3242,3522,2694,260
Trade Payables93950213501
1,4611,2131,6261,6733,320
Total Liabilities4,2405,2086,0828,69012,942
00006
Capital Work in Progress00001
3,6914,1624,2654,9736,995
000495
0005615
Cash & Bank343042651,3962,865
5157421,5512,3122,363
Total Assets4,2405,2086,0828,69012,942

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
-429372172-4171749-690395530
Cash from Investing-2,668-681-584-768832415-765737-2,976-1,505
Cash from Financing2,673668228583-724-281-177522,8032,065
1129-1973182-2261002231,091

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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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