ACME Solar Holdings Limited
₹404.90-₹10.45 (-2.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹13,620 Cr
- P/E
- 634.0x
- EV / EBITDA
- 21.5x
- Revenue
- ₹1,352 Cr
- Net margin
- 89.2%
- ROCE
- -1.3%
Price chart
Technical chartScreen technicals →+40.4% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -7.9%
- 3M
- +12.2%
- 6M
- +33.6%
- 1Y
- +40.4%
- 5Y
- +76.8%
52-week range
Day change -₹10.45 (-2.5%) from ₹415 to ₹405 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in ACMESOLAR, bought on each weekday since 2024.
AI Summary
Indian StockStrengths1
- Healthy return on equity of 15.5%
Concerns1
- Other income is 145.4% of PBT — a large share of earnings is non-operating
Rule-based from financial data. Not advice.
About the company
ACME Solar Holdings Limited, a solar independent power producing company, engages in developing, building, owning, operating, and maintaining utility scale grid connected solar power projects in India. The company owns and operates solar energy projects with installed capacity of 2540 MW; and develops and constructs solar energy projects with capacity of 3780 MW.
Read moreShow less
ACME Solar Holdings Limited, a solar independent power producing company, engages in developing, building, owning, operating, and maintaining utility scale grid connected solar power projects in India. The company owns and operates solar energy projects with installed capacity of 2540 MW; and develops and constructs solar energy projects with capacity of 3780 MW. It is also involved in the wind power and hybrid power generation business. In addition, the company provides engineering, procurement, and construction services, as well as operation and maintenance services. It serves central and state government-backed entities. The company was founded in 2003 and is based in Gurugram, India. ACME Solar Holdings Limited is a subsidiary of ACME Cleantech Solutions Limited.
- Sector
- Energy
- Shares outstanding
- 60.5 Cr shares
- ISIN
- INE622W01025
- BSE code
- 544283
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹13,620 Cr
- P/E
- 634.0x
- P/B
- 2.9x
- EV / EBITDA
- 21.5x
- EV / Sales
- 31.8x
- P/S
- 28.9x
- Earnings yield
- 0.2%
- 52-week high
- ₹458.90
- 52-week low
- ₹199.00
Profitability
- Operating margin
- -11.9%
- Net margin
- 89.2%
- EBITDA margin
- 148.0%
- ROE
- 15.5%
- ROCE
- -1.3%
- ROA
- 6.9%
- Dividend payout
- 0.0%
- Tax rate
- 19.0%
- Other income, % of PBT
- 145.4%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,352 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 187.0%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹697 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 563.8%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -55.0%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹690 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -196.4%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹223 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 16.4%
Solvency and efficiency
- Current ratio
- 3.61
- Debt / Equity
- 0.63
- Debt / Assets
- 0.28
- Debt / EBITDA
- 2.44
- Financial leverage
- 2.25
- CFO / Net profit
- -1.64
- Cash / Market cap
- 13.4%
- Cash per share
- ₹30.15
- Asset turnover
- 0.08
- Fixed asset turnover
- 471.00
- Capital intensity
- 0.00
- Debtor days
- 0 days
- Cash conversion cycle
- 0 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹14 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,083 Cr |
| Sales | Operating profit | ₹269 Cr |
| Operating profit | Interest | ₹176 Cr |
| Operating profit | Profit before tax | ₹93 Cr |
| Other income | Profit before tax | ₹161 Cr |
| Profit before tax | Tax and other | ₹64 Cr |
| Profit before tax | Net profit | ₹189 Cr |
Revenue and net profit
Revenue grew 187.0% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹183 Cr | ₹24 Cr |
| FY2022 | ₹759 Cr | ₹145 Cr |
| FY2023 | ₹469 Cr | -₹30 Cr |
| FY2024 | ₹471 Cr | ₹420 Cr |
| FY2025 | ₹1,352 Cr | ₹189 Cr |
Cash flows
FY2025: ₹395 Cr from operations, -₹2,581 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | -₹35 Cr | ₹797 Cr |
| FY2022 | ₹47 Cr | ₹462 Cr |
| FY2023 | ₹716 Cr | -₹49 Cr |
| FY2024 | -₹690 Cr | ₹47 Cr |
| FY2025 | ₹395 Cr | -₹2,581 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,352 Cr+187.0%1Y
- Net profit
- ₹189 Cr-55.0%1Y
- Cash from operations
- ₹395 Cr
- Free cash flow
- -₹2,581 Cr-5,591.5%1Y
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,352 Cr | ₹269 Cr | — | ₹189 Cr | ₹395 Cr | -₹2,581 Cr | 4.1% | +187.0% | -55.0% |
Monthly returns
Month-by-month returns of ACMESOLAR across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹8,691 Cr |
| Equity capital | ₹121 Cr |
| Reserves | ₹4,437 Cr |
| Borrowings | ₹2,269 Cr |
| Other liabilities | ₹1,863 Cr |
| Assets | ₹8,691 Cr |
| Fixed assets | ₹2 Cr |
| Capital work in progress | ₹0 Cr |
| Investments | ₹4,973 Cr |
| Other assets | ₹3,716 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
ACMESOLAR trades at 634.0x earnings against a peer median of 24.8x (a 2456% premium).
Not shown (no positive earnings and no EV / Sales): Reliance Power Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| ACME Solar Holdings LimitedACMESOLARthis companyP/E ↑ premium | ₹13,620 Cr | 634.0x | 2.9x | 15.5% | 21.5x |
| Gujarat State Petronet Ltd.GUJARAT | ₹16,858 Cr | 23.0x | 1.5x | 12.5% | 9.0x |
| Kirloskar Oil Engines LimitedKIRLOSENG | ₹16,727 Cr | 38.5x | 5.3x | 13.8% | 28.2x |
| NAVA LIMITEDNAVA | ₹15,907 Cr | 35.6x | 4.3x | 6.0% | 47.1x |
| Emmvee Photovoltaic Power LimitedEMMVEE | ₹14,711 Cr | 129.0x | — | 33.3% | 76.5x |
| Reliance Power LimitedRPOWER | ₹13,822 Cr | — | 1.4x | 0.5% | 119.5x |
| Chennai Petroleum Corporation Ltd.CHENNPETRO | ₹12,244 Cr | 10.8x | 1.4x | 31.5% | 2.9x |
| Jaiprakash Power Ventures LimitedJPPOWER | ₹11,397 Cr | 15.4x | 0.9x | 6.0% | 8.2x |
| Sandur Manganese & Iron Ores Ltd.SANDUMA | ₹11,074 Cr | 21.9x | 4.0x | 11.0% | 27.3x |
| Peer median | — | 24.8x | 3.1x | 12.8% | 15.7x |
Year-to-date ROI
ACMESOLAR since 1 January, against earlier years.
Historical volatility
ACMESOLAR's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 24.0% |
| FY2022 | 5.0% |
| FY2023 | -6.0% |
| FY2024 | -12.0% |
| FY2025 | 20.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,352 Cr |
| Costs | |
| Interest | ₹176 Cr |
| Expenses | ₹1,084 Cr |
| Operating profitOperating Profit | ₹269 Cr |
| Other income and charges | |
| Profit before tax | ₹253 Cr |
| Tax | |
| Net profitNet Profit | ₹189 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹8,691 Cr |
| Equity capitalEquity Capital | ₹121 Cr |
| Reserves | ₹4,437 Cr |
| Borrowings | ₹2,269 Cr |
| Other liabilitiesOther Liabilities | ₹1,863 Cr |
| AssetsTotal Assets | ₹8,691 Cr |
| Fixed assetsFixed Assets | ₹2 Cr |
| Capital work in progressCWIP | ₹0 Cr |
| Investments | ₹4,973 Cr |
| Other assetsOther Assets | ₹3,716 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹395 Cr |
| Investing cash flowCash from Investing Activity | -₹2,976 Cr |
| Financing cash flowCash from Financing Activity | ₹2,803 Cr |
| Change in cashNet Cash Flow | ₹223 Cr |
Learn while you research
Academy chapters picked for ACME Solar Holdings Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 634.0, learn when high multiples are justified.6 min read
- 04 Growth Investing187% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read