ACMESOLAR

Acme Solar Holdings Limited

Renewable independent power producer — solar, hybrid and firm power projects

Utilities›Power›Power›Power Generation

acme.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹410.00
Market cap
28,930 Cr
Stock P/E
47.9
P/B
4.91
Dividend yield
0.1%
ROE (FY26)
9.9%
ROCE (FY26)
7.5%
Operating margin (FY26)
64.9%
Debt / equity (FY26)
3.75
OCF / EBITDA (FY26)
70.1%
OCF / EBITDA (3Y)
102.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

ACME Solar develops, owns and operates renewable power plants and battery energy storage in India, selling electricity mainly under long-term power purchase agreements (PPAs).

Company snapshot

7thBy market cap

Ranked among 27 companies in Power Generation.

What we see

Positives
  • ✓Net margin of 24.6% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Debt-to-equity of 3.75x — the company carries significant debt relative to its equity base.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales260 Cr349 Cr487 Cr511 Cr468 Cr497 Cr548 Cr858 Cr
Operating expenses (approx.)39 Cr42 Cr51 Cr53 Cr68 Cr52 Cr69 Cr123 Cr
EBITDA221 Cr307 Cr436 Cr458 Cr400 Cr444 Cr479 Cr734 Cr
OPM %85.0%88.0%89.5%89.6%85.6%89.5%87.4%85.6%
Other income36 Cr52 Cr52 Cr73 Cr134 Cr120 Cr157 Cr96 Cr
Interest178 Cr179 Cr206 Cr233 Cr265 Cr288 Cr337 Cr344 Cr
Depreciation60 Cr70 Cr102 Cr108 Cr117 Cr120 Cr123 Cr155 Cr
Profit before tax18 Cr103 Cr166 Cr174 Cr156 Cr156 Cr190 Cr331 Cr
Tax %15.7%-8.4%26.6%25.0%26.3%27.2%27.2%29.0%
Net profit15 Cr112 Cr122 Cr131 Cr115 Cr114 Cr138 Cr235 Cr
EPS (₹)₹0.29₹2.09₹2.15₹2.16₹1.90₹1.88₹2.30₹3.71

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,488 Cr1,295 Cr1,319 Cr1,405 Cr2,023 CrSign in free for the trailing twelve months
Operating expenses (approx.)248 Cr122 Cr230 Cr170 Cr242 CrSign in free for the trailing twelve months
EBITDA1,240 Cr1,173 Cr1,089 Cr1,235 Cr1,781 CrSign in free for the trailing twelve months
OPM %83.4%90.6%82.6%87.9%88.0%Sign in free for the trailing twelve months
Other income75 Cr66 Cr147 Cr170 Cr484 CrSign in free for the trailing twelve months
Interest996 Cr809 Cr767 Cr759 Cr1,123 CrSign in free for the trailing twelve months
Depreciation546 Cr485 Cr308 Cr287 Cr468 CrSign in free for the trailing twelve months
Profit before tax102 Cr-15 Cr909 Cr338 Cr677 CrSign in free for the trailing twelve months
Tax %39.5%79.4%23.3%25.8%26.4%Sign in free for the trailing twelve months
Net profit62 Cr-3 Cr698 Cr251 Cr498 CrSign in free for the trailing twelve months
EPS (₹)₹1.12₹-0.06₹12.55₹4.55₹8.24Sign in free for the trailing twelve months
Dividend payout %———0.0%4.9%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital104 Cr104 Cr104 Cr121 Cr121 Cr
Reserves1,804 Cr1,796 Cr2,486 Cr4,390 Cr4,940 Cr
Borrowings7,564 Cr8,657 Cr8,218 Cr10,423 Cr18,988 Cr
Other liabilities1,314 Cr1,599 Cr2,591 Cr3,472 Cr4,492 Cr
Total liabilities10,887 Cr12,187 Cr13,400 Cr18,404 Cr28,540 Cr
Fixed assets (net)5,721 Cr6,172 Cr6,353 Cr11,662 Cr14,664 Cr
CWIP1,273 Cr2,147 Cr2,828 Cr1,362 Cr4,358 Cr
Investments25 Cr23 Cr150 Cr276 Cr275 Cr
Inventories———4 Cr17 Cr
Trade receivables931 Cr699 Cr421 Cr381 Cr333 Cr
Cash & bank478 Cr547 Cr309 Cr1,284 Cr2,231 Cr
Other assets2,458 Cr2,598 Cr3,339 Cr3,433 Cr6,663 Cr
Total assets10,887 Cr12,187 Cr13,400 Cr18,404 Cr28,540 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity955 Cr1,263 Cr1,434 Cr1,543 Cr1,249 Cr
Cash from investing-374 Cr-1,410 Cr-1,731 Cr-3,976 Cr-7,317 Cr
Cash from financing-556 Cr215 Cr216 Cr3,408 Cr7,015 Cr
Net cash flow25 Cr69 Cr-81 Cr975 Cr947 Cr
Free cash flow (OCF − Capex)-496 Cr495 Cr-1,369 Cr-1,723 Cr-4,073 Cr

Ratios

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.5%7.5%15.5%7.3%7.5%
ROE %3.1%-0.2%26.9%5.6%9.9%
Debtor days2281971169960
Inventory days———13
Days payable10591720583
Cash conversion cycle-831179964160
OCF / EBITDA %77.0%107.8%131.7%124.9%70.1%
OCF / EBITDA % (3 years)——104.3%121.3%102.9%
Debt / equity3.964.563.172.313.75
Current ratio1.882.792.202.862.17
Net debt / EBITDA5.716.927.267.409.41