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 ₹ 14,096 Cr.
- Current Price ₹ 233
- High / Low ₹ 292 / 228
- Stock P/E 115
- Book Value ₹
- 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
- 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
-
Regulation 30 Of The SEBI (LODR) Regulations, 2015
2d - Commissioning of 1023.05 MW solar power projects in Rajasthan.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Dec - Schedule of Analyst / Institutional Investor meet on 17th December.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
11 Dec - ACME Solar secures 250 MW FDRE project in NHPC auction.
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Update-Outcome Of The Board Meeting With Respect To Financial Results For The Period Ended 30-Sep-2024 In Machine Readable Form / Legible Copy.
5 Dec - Board approved unaudited financial results for Q2 FY2024.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
29 Nov - Transcript of recording of Earnings Call Q2 H1 FY25 results
Concalls
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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]