ACME Solar Holdings Ltd.

NSE: ACMESOLAR · Power Generation

52W Range₹196 ₹399

Snapshot

Unlock ACME Solar Holdings Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

ACME Solar Holdings Limited is an independent power producer specialising in the development, construction, and operation of utility-scale solar and wind energy projects. The company also provides comprehensive engineering, procurement, and construction (EPC) services alongside ongoing operation and maintenance support for its renewable energy assets.

Business Model

The company generates revenue through long-term power purchase agreements with central and state government-backed entities and by providing technical EPC and management services for renewable projects.

  • Operational Capacity:1,340 MW
  • Under Development Capacity:1,650 MW

Growth Outlook

Growth is driven by the expansion of its renewable energy portfolio, specifically the 1,650 MW of solar projects currently under development and construction.

  • Pipeline Capacity:1,650 MW

Key Risks

  • Regulatory and Policy Risk. Changes in government renewable energy policies or tariff structures could adversely impact project viability and profitability.
  • Counterparty Credit Risk. The company's reliance on state-backed entities for power purchase agreements exposes it to potential payment delays or credit defaults.
  • Execution and Operational Risk. Delays in project commissioning or technical failures in solar and wind assets could lead to significant revenue shortfalls.
  • Financing Risk. High capital expenditure requirements for renewable projects make the company sensitive to interest rate fluctuations and availability of debt financing.

Price

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Key Metrics

P/E

47.8x

Q4 FY26 · consolidated

47.8 vs 537.9x5Y avg

EV/EBITDA

17.9x

Q4 FY26 · consolidated

17.9 vs 51.7x5Y avg

NET PROFIT MARGIN

25.2%

Q4 FY26 · consolidated

+0.1 ppYoY

DEBT TO EQUITY

3.8x

Q4 FY26 · consolidated

+1.44xYoY

Peers · Power Generation

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
ACME Solar Holdings Ltd.ACMESOLAR
14,96147.8217.94111.9%10.7%9.4%+41.0%
Nava Ltd.NAVA
15,93521.218.857.7%44.4%13.2%13.3%-3.5%
Jaiprakash Power Ventures Ltd.JPPOWER
10,22534.678.951.9%28.7%3.6%6.9%-28.5%
Clean Max EnviroCLEANMAX
9,60459.0%
Reliance Power Ltd.RPOWER
8,925-30.368.700.5%35.9%-2.1%4.8%-62.8%
GMR Power And Urban Infra LimitedGMRP&UI
7,91912.109.2115.6%27.6%67.0%20.4%-18.4%

As of Q4 FY26

Financials