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 ₹ 11,684 Cr.
- Current Price ₹ 193
- High / Low ₹ 292 / 168
- Stock P/E 95.0
- Book Value ₹ 32.4
- Dividend Yield 0.00 %
- ROCE 8.41 %
- ROE 5.48 %
- Face Value ₹ 2.00
Pros
- Debtor days have improved from 172 to 116 days.
Cons
- Stock is trading at 5.97 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of -2.11% over last 3 years.
- Earnings include an other income of Rs.896 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| 1,692 | 1,488 | 1,295 | 1,319 | |
| 139 | 247 | 122 | 230 | |
| Operating Profit | 1,553 | 1,240 | 1,173 | 1,089 |
| OPM % | 92% | 83% | 91% | 83% |
| 218 | 404 | 106 | 896 | |
| Interest | 1,151 | 996 | 809 | 767 |
| Depreciation | 622 | 546 | 485 | 308 |
| Profit before tax | -1 | 102 | -15 | 910 |
| Tax % | -1,470% | 39% | -79% | 23% |
| 15 | 62 | -3 | 698 | |
| EPS in Rs | 1.46 | 5.94 | -0.30 | 66.85 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -8% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 52% |
| TTM: | 435% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -2% |
| Last Year: | 5% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|
| Equity Capital | 104 | 104 | 104 | 104 | 104 |
| Reserves | 1,753 | 1,804 | 1,796 | 2,487 | 1,853 |
| 9,732 | 7,915 | 9,014 | 8,535 | 10,698 | |
| 900 | 973 | 1,113 | 2,075 | 2,866 | |
| Total Liabilities | 12,489 | 10,797 | 12,027 | 13,201 | 15,521 |
| 8,984 | 6,177 | 6,631 | 6,758 | 6,667 | |
| CWIP | 97 | 1,273 | 2,147 | 2,823 | 5,730 |
| Investments | 25 | 25 | 23 | 150 | 276 |
| 3,383 | 3,322 | 3,226 | 3,471 | 2,849 | |
| Total Assets | 12,489 | 10,797 | 12,027 | 13,201 | 15,521 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| 1,746 | 955 | 1,263 | 1,429 | |
| 458 | -425 | -1,410 | -1,882 | |
| -2,040 | -556 | 215 | 215 | |
| Net Cash Flow | 164 | -25 | 69 | -239 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| Debtor Days | 156 | 203 | 197 | 116 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 156 | 203 | 197 | 116 |
| Working Capital Days | 173 | 239 | 277 | 226 |
| ROCE % | 7% | 7% | 8% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 28s
-
Announcement Under Regulation 30 Of LODR-Pendency Of Material Litigations / Disputes.
15h - Disclosure of material litigations affecting ACME Solar.
-
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
24 Feb - Voting results of Postal Ballot approved by members.
-
Intimation Of Violation Under The Company'S Code Of Conduct To Regulate, Monitor And Report Trading By Designated Persons And Immediate Relatives And The SEBI (Prohibition Of Insider Trading) Regulations, 2015, As Amended (SEBI PIT Regulations)
14 Feb - Intimation of insider trading violation by designated person.
-
Clarifications To The Postal Ballot Notice Dated 19 January, 2025 Issued By ACME Solar Holdings Limited
12 Feb - Clarifications issued for postal ballot notice dated January 19, 2025.
Concalls
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Feb 2025Transcript PPT REC
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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]