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On 6 Nov 2026, ACME Solar Holdings was priced at ₹394.95, or 34.2× trailing earnings, against an industry P/E of 45.8×, and the shares are 17% below their 52-week high. Sales grew 16% a year over 3 years; its ROCE of 7.0% is the second-highest among the 7 largest Utilities (Renewable) peers. Debt is 3.30× equity, and its dividend yield is 0.1%. It is a small-cap company with a market cap of ₹27,883 Cr, ranked 5th of 18 Utilities (Renewable) companies by market cap; the shares rose 49% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹408.25
Day high
₹410.00
Day low
₹391.50
Prev. close
₹407.90
Volume
8.8 L

Health check

2 good · 1 fair · 3 to check
  • ReturnsAhead

    +49.0% over a year, better than 7 of 7 peers.

  • Price tagCheaper

    P/E 34.2 vs industry 45.8.

  • GrowthSteady

    Sales +16.0% a year over 3 years.

  • ProfitabilityWeak

    ROCE 7.0% vs peer median 5.0%.

  • Balance sheetStretched

    Debt 3.30× equity, interest covered 1.6×, Piotroski 6 of 9.

  • Red flags3 to check

    Debt is 3.30× equity.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Utilities - Renewable

17 listed peers. Screen the industry

Small cap

₹27,883 Cr, #5 of 18 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹2,789 Cr · profit ₹757 Cr
Market cap
₹27,883 Cr
Small cap
P/E
34.2
Industry 45.8
Price to book
3.17
Peers 3.18
Dividend yield
0.05%
ROE
11.5%
Peers 6.7%
ROCE
7.0%
Peers 5.0%
Debt to equity
3.30
Debt ₹27,596 Cr
EPS (TTM)
₹11.56
Face value ₹2
OPM (TTM)
86.5%
Net margin 27.1%
Sales growth
+89.6%
Latest quarter vs a year ago
Profit growth
+99.5%
Latest quarter vs a year ago
Price to sales
10.00
EV/EBITDA 17.6

Strengths and risks

Strengths

  • Quarterly profit up 99.5% on a year ago.
  • Quarterly sales up 89.6% on a year ago.
  • Net margin of 27.1%.
  • P/E of 34.2 against an industry P/E of 45.8.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Debt is 3.30× equity.
  • Interest coverage of only 1.6×.
  • Promoter stake down from 83.3% to 71.4%.

Derived automatically from reported figures. Not a recommendation.

About ACME Solar Holdings

ACME Solar Holdings Limited, a solar independent power producing company, engages in the develops, constructs, owns, operates, and maintains grid-connected renewable energy projects in India. The company owns and operates solar and wind energy projects with a total installed capacity of 2,982 MW; and 1,324 MWh of battery energy storage system (BESS) projects. It is also developing and constructing solar and wind energy projects with a total capacity of…

Headquarters
Gurugram
Employees
947
Sector
Utilities
ISIN
INE622W01025
Website
acmesolar.in

Price range

52 weeks

₹195.90₹476.90

Today

₹391.50₹410.00
Avg volume (3M)
18.3 L
1-year return
plus 49.0%
From 52-week high
minus 17.2%

Analyst consensus

14 analysts
BuyMean target ₹482.29 plus 22.1%

Target range, with today’s price

Low ₹445.00High ₹560.00

Today’s price ₹394.95 is below the lowest analyst target.

Consensus from Yahoo Finance. Not a recommendation.

Peers · Utilities - Renewable

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ADANIGREENAdani Green Energy1,424.10plus 0.65%2,34,574129.530.66.3%90.8%3.7516.6%plus 30.2%
ENRINSiemens Energy India2,809.00minus 1.75%1,00,03467.263.429.2%21.5%0.04–minus 11.9%
NHPCNHPC82.08plus 1.84%82,45019.123.75.8%46.1%1.132.0%minus 4.2%
NTPCGREENNTPC Green Energy82.63minus 1.27%69,627107.340.52.9%87.5%1.92156.2%minus 16.9%
ACMESOLARACME Solar Holdings394.95minus 3.17%27,88334.224.87.0%86.5%3.3016.0%plus 49.0%
SJVNSJVN57.15minus 0.70%22,45922.716.45.0%67.8%2.2514.6%minus 34.1%
CLEANMAXClean Max Enviro Energy Solutions1,259.70minus 1.32%14,81581.421.84.9%58.4%2.3227.1%plus 45.2%
JNPRJuniper Green Energy255.81plus 0.31%14,556135.343.72.8%64.7%2.84–minus 1.5%
Median of 7 peers–−0.70%69,62781.430.65.0%64.7%2.2516.6%−4.2%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
511497548857887
53.252.168.9123134
458444479734753
89.6%89.5%87.4%85.6%84.9%
7312015796.3120
233288337344345
108120123155172
−15.9–14.3––
174156190331356
25.0%27.2%27.2%29.0%24.5%
131114139235268
2.141.872.273.673.75

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+16.0%
ROE
11.5%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,2941,3191,4052,023
–+1.9%+6.5%+44.0%
121217168222
1,1741,1011,2371,801
90.7%83.5%88.0%89.0%
58.8133164328
8037607561,103
485308287468
40.1743−20.1119
−15.4909338677
79.4%23.3%25.8%26.4%
−3.1698252499
––minus 63.9%+97.9%
-0.0511.534.538.16

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
104104121121
1,7962,4864,3904,940
9,0148,53610,97619,896
1,2732,2732,9173,583
12,18713,40018,40428,540
8,9439,82013,68120,499
2,3123,0641,3684,767
22.70.1275275
1,1201,0812,1183,056
−211−565961−56.3
12,18713,40018,40428,540

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,2631,4341,5431,249
−1,410−1,731−3,976−7,317
2152163,4087,015
69−80.7975947
−769−2,823−3,266−5,321
495−1,389−1,723−4,073
–––−24.2

Shareholding pattern

Source: NSE filings
71.4%
promoters
  • Promoters71.40%
  • Public28.47%
  • Employee trusts0.13%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202671.40%28.47%0.00
30 Jun 202671.40%28.42%minus 0.08
4 Jun 202671.48%28.44%minus 11.81
31 Mar 202683.29%16.61%0.00
31 Dec 202583.29%16.60%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you