ACME Solar Holdings Ltd
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]
- Market Cap ₹ 13,397 Cr.
- Current Price ₹ 221
- High / Low ₹ 292 / 168
- Stock P/E
- Book Value ₹ 37.2
- Dividend Yield 0.00 %
- ROCE 1.86 %
- ROE -4.08 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 5.59 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -3.97% over last 3 years.
- Earnings include an other income of Rs.753 Cr.
* 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.
Peer comparison
Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services
Part of BSE IPO
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| 183 | 759 | 469 | 471 | |
| 139 | 720 | 496 | 527 | |
| Operating Profit | 44 | 39 | -27 | -56 |
| OPM % | 24% | 5% | -6% | -12% |
| 145 | 298 | 132 | 753 | |
| Interest | 171 | 192 | 153 | 180 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 18 | 145 | -48 | 518 |
| Tax % | -35% | -0% | -38% | 19% |
| 24 | 145 | -30 | 420 | |
| EPS in Rs | 2.32 | 13.92 | -2.90 | 40.17 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 37% |
| TTM: | 0% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -17% |
| TTM: | -46% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -4% |
| Last Year: | -4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|
| Equity Capital | 104 | 104 | 104 | 104 | 104 |
| Reserves | 2,063 | 2,208 | 2,178 | 2,598 | 2,146 |
| 1,795 | 1,754 | 1,674 | 1,702 | 2,192 | |
| 398 | 578 | 1,276 | 1,686 | 834 | |
| Total Liabilities | 4,360 | 4,645 | 5,233 | 6,091 | 5,277 |
| 0 | 0 | 0 | 1 | 1 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 3,106 | 2,810 | 4,162 | 4,265 | 4,169 |
| 1,254 | 1,835 | 1,070 | 1,825 | 1,107 | |
| Total Assets | 4,360 | 4,645 | 5,233 | 6,091 | 5,277 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| -35 | 47 | 716 | -690 | |
| 832 | 415 | -765 | 737 | |
| -724 | -281 | -177 | 52 | |
| Net Cash Flow | 73 | 182 | -226 | 100 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| Debtor Days | 26 | 32 | 11 | 0 |
| Inventory Days | 0 | 0 | ||
| Days Payable | ||||
| Cash Conversion Cycle | 26 | 32 | 11 | 0 |
| Working Capital Days | 1,455 | 428 | -468 | -115 |
| ROCE % | 2% | 2% | 2% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - Transcript of Q3 FY25 earnings call for ACME Solar.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
30 Jan - Publication of financial results for quarter ended December 31, 2024 of ACME Solar Holdings Limited
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
29 Jan - Audio recording of Q3 FY25 earnings call available.
-
Integrated Filing (Financial)
29 Jan - Integrated financial results for quarter ended December 2024.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
29 Jan - Monitoring Agency Report for Q4 2024 submitted.
Concalls
-
Feb 2025Transcript PPT
-
Nov 2024Transcript PPT REC
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]