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As of 18 Sept 2026, 03:30 pm
ACME Solar Holdings has reported the commissioning of its Battery Energy Storage System (BESS) component in Bikaner, Rajasthan. On September 17, 2026, Phase-II (52.32 MW/209.28 MWh) was commissioned, with commercial operations starting September 19, 2026. This follows Phase-I (53.63 MW/300 MWh) which was commissioned on September 14, 2026, with commercial operations starting September 16, 2026. The company also reported commissioning 66.68 MW of solar capacity alongside the BESS capacity on September 16, 2026. The entire BESS capacity is expected to be commissioned by Q3 of the current fiscal year.
Between March 2025 and March 2026, ACME Solar Holdings' total assets increased from ₹18,140 million to ₹28,540 million, driven by increases in fixed assets (from ₹12,315 million to ₹15,732 million), other assets (from ₹4,188 million to ₹8,176 million), and construction work in progress (CWIP) (from ₹1,362 million to ₹4,358 million). Correspondingly, total liabilities also rose from ₹18,140 million to ₹28,540 million, with borrowings increasing significantly from ₹10,976 million to ₹19,896 million. Equity capital remained unchanged at ₹121 million, while reserves grew from ₹4,390 million to ₹4,940 million.
For the period ending March 2026, ACME Solar Holdings reported a decrease in Cash from Operating Activity to ₹1,249 million, down from ₹1,543 million in March 2025. Cash from Financing Activity, however, saw a substantial increase, rising to ₹7,015 million from ₹3,408 million. Cash from Investing Activity also increased its outflow, moving from ₹3,976 million to ₹7,317 million. Consequently, Free Cash Flow became more negative, decreasing from ₹1,719 million in March 2025 to ₹4,071 million in March 2026. The Net Cash Flow remained relatively stable, at ₹947 million in March 2026 compared to ₹975 million in March 2025.
As of September 18, 2026, ACME Solar Holdings is exhibiting a bullish trend across daily, weekly, and monthly timeframes, indicated by its Supertrend indicator. The daily closing price was ₹435.25, with the 20-day Exponential Moving Average (EMA) at ₹405.38 and the 50-day EMA at ₹386.99. The stock has shown strong recent returns, with a 6-month return of 75% and a Year-to-Date (YTD) return of 83%. Nearest support levels are identified around ₹428.63 and ₹419.97, while a resistance level is noted at ₹436.92.
As of 18 Sept 2026, 03:30 pm
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Trading activity was substantially higher than usual and the price closed higher.
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The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | PEAK₹857.50 crore | ₹547.85 crore | ₹496.79 crore | ₹467.75 crore | ₹510.98 crore |
| Expenses | PEAK₹622.31 crore | ₹529.29 crore | ₹460.52 crore | ₹449.44 crore | ₹393.69 crore |
| Finance Costs | PEAK₹344.27 crore | ₹337.48 crore | ₹288.03 crore | ₹264.52 crore | ₹232.96 crore |
| Profit Before Exceptional Items And Tax | PEAK₹331.46 crore | ₹175.62 crore | ₹156.29 crore | ₹151.93 crore | ₹190.30 crore |
| Profit Before Tax | PEAK₹331.46 crore | ₹189.96 crore | ₹156.29 crore | ₹156.18 crore | ₹174.39 crore |
| Tax Expense | PEAK₹96.13 crore | ₹51.66 crore | ₹42.58 crore | ₹41.11 crore | ₹43.57 crore |
Revenue from operations was ₹857.50 crore, up from ₹547.85 crore in Q4 FY2025‑26 and ₹510.98 crore in Q1 FY2025‑26. This represents a 56.5% sequential increase and a 67.8% year‑over‑year increase. The jump marks a clear acceleration from the revenue levels seen over the previous four quarters, which ranged between ₹467.75 crore and ₹547.85 crore.
Basic earnings per share from continuing operations rose to ₹3.71 from ₹2.30 in Q4, a 61.3% increase. On a trailing twelve‑month basis, EPS was ₹9.79.
Exchange disclosures and regulatory announcements for ACME Solar Holdings.
ACME Solar Holdings Limited, through its wholly owned subsidiary ACME Greentech Seventh Private Limited, commissioned Phase-II of the BESS component of its FDRE Project in Bikaner, Rajasthan on September 17, 2026, comprising 52.32 MW/209.28 MWh out of a total 300 MW/1200 MWh. The commercial operation date is September 19, 2026, bringing the subsidiary's total commissioned BESS capacity to 105.95 MW/423.80 MWh. A Power Purchase Agreement for this project has been signed with SJVN Limited with long-term financing from REC, and the company expects to commission the entire BESS capacity by Q3 of the current fiscal.
On September 18, 2026, the Board of Directors of ACME Solar Holdings Limited approved a Scheme of Amalgamation to merge its wholly owned subsidiaries ACME Pokhran Solar Private Limited, ACME Sikar Solar Private Limited, and ACME Eco Clean Energy Private Limited into the parent company. The transaction involves no cash or share consideration, as existing equity shares held by the parent in the subsidiaries will be cancelled upon effectiveness. Financial data for the fiscal year ending March 31, 2026, shows combined turnover of Rs. 49,515.93 million and net profit of Rs. 3,401.58 million for the group entities involved.
ACME Solar Holdings Limited's board approved a scheme of amalgamation on September 18, 2026, to merge three wholly owned subsidiaries—ACME Pokhran Solar Private Limited (50 MW wind project, turnover ₹294.86 million, net loss ₹53.11 million), ACME Sikar Solar Private Limited (300 MW solar project, turnover ₹1,204.22 million, net profit ₹185.95 million), and ACME Eco Clean Energy Private Limited (100 MW wind project, turnover ₹135.15 million, net loss ₹94.09 million)—into itself. No cash or share consideration will be issued, and the shareholding pattern of the listed entity remains unchanged. The amalgamation aims to simplify the group structure, reduce costs, and eliminate inter-company arrangements.
ACME Solar Holdings Limited, through its wholly-owned subsidiary ACME Greentech Seventh Private Limited, commissioned Phase-I of the BESS component (53.63 MW/300 MWh) for the FDRE Project in Bikaner, Rajasthan on September 14, 2026. The commercial operation date (COD) for this specific battery energy storage system is set for September 16, 2026, while the corresponding renewable energy generation component remains under development.
Acme Solar Holdings Limited has informed the Exchange about update on commissioning of Battery Energy Storage System (BESS) Project |SUBJECT: Commencement of commercial production/operations
Acme Solar Holdings Limited has informed the Exchange regarding a press release dated September 16, 2026, titled "ACME Solar commissions 66.68 MW Solar Capacity and 300 MWh BESS Capacity in Rajasthan". |SUBJECT: Press Release
ACME Solar Holdings Limited announced on September 15, 2026, that its officials will participate in a physical group interaction with investors and analysts scheduled for September 21, 2026, at MS Energy Security & Powering AI Field Trip in Delhi. The company confirmed that no unpublished price-sensitive information will be disclosed during the meeting and noted that the schedule is subject to change due to exigencies.
ACME Solar Holdings Limited announced an institutional investor meeting titled 'MS Energy Security & Powering AI Field Trip' scheduled for September 21, 2026, at 13:00 in Delhi. The event is a group meeting hosted by Morgan Stanley and will be conducted in-person with multiple analysts or institutional investors attending. Rajesh Sodhi is designated as the contact person for the disclosure.
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The Indian stock market is set for a flat opening on 16 September, following a decline in global markets. The Sensex fell 777.94 points, while the Nifty 50 dropped 279.50 points, influenced by rising crude oil prices and inflation concerns amid geopolitical tensions.
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HSBC remains positive on ACME Solar's ability to secure new projects and convert LoAs into PPAs, although it noted that project economics have deteriorated somewhat because of competitive intensity.
ACME Solar shares rose sharply after HSBC raised its target price by 15% to Rs 450 and retained its Buy rating. The brokerage sees signs of a recovery in renewable energy auctions, supported by rising power demand and growing adoption of battery storage and firm, dispatchable renewable energy projects.
ACME Solar's stock jumped 5% after HSBC raised its target price from ₹390 to ₹450, recognizing the firm's growth potential in renewable energy. With a year-to-date surge of 74%, ACME is evolving from a pure solar provider to a diversified energy player, but risks remain.
Comprehensive Section Breakdown for ACME Solar Holdings
Strategic Vision: Develops, builds, owns, and operates clean energy projects.
• Independent power producer specializing in renewable energy solutions.
• Portfolio includes solar, wind, hybrid, and FDRE solutions.
• Involves manufacturing and advanced energy solutions like Green Hydrogen.
ACME Solar Holdings Ltd. reported a sharp increase in revenue for the first quarter of FY2026‑27, which drove a substantial rise in net profit. Revenue grew over 56% from the previous quarter and nearly 68% from the same quarter last year. Expenses rose at a much slower pace, and finance costs were nearly flat sequentially, allowing most of the additional revenue to reach the bottom line. The company recorded no exceptional items, resulting in a clean profit figure.
Profit before exceptional items and tax rose to ₹331.46 crore from ₹175.62 crore in the prior quarter, an 88.7% increase. Net profit (profit for the period) increased to ₹235.33 crore from ₹138.31 crore, up 70.2% sequentially and 79.9% year‑over‑year.
The net profit margin for the quarter was 27.44%, meaning over a quarter of revenue translated into net profit. The EBITDA margin was 96.86%, indicating that operating costs (excluding depreciation and finance costs) were very low relative to revenue. The EBIT margin was 78.80%.
Total expenses increased to ₹622.31 crore from ₹529.29 crore in Q4, a 17.6% rise, which was much slower than revenue growth. Finance costs, a significant expense for a capital‑intensive business, were ₹344.27 crore, only 2.0% higher than the previous quarter’s ₹337.48 crore. With finance costs nearly flat, the revenue increase largely flowed through to profit.
The interest coverage ratio (EBIT divided by finance costs) improved to 1.96 from 1.52 in the prior quarter, indicating better earnings relative to interest obligations.
The first quarter of FY2026‑27 was marked by a sharp increase in revenue, which drove a substantial rise in profitability. Expenses grew at a much slower rate, and finance costs were nearly flat sequentially, allowing most of the additional revenue to reach the bottom line. The company reported no exceptional items, resulting in a clean profit figure. The improvement in interest coverage is a notable development for debt‑servicing capacity. The quarter represents a significant step‑up in financial performance compared to both the immediate prior quarter and the same quarter last year.
Category: B2B Services
Develops, builds, owns, and operates large-scale clean energy projects including solar, wind, hybrid, and Firm, Dispatchable, Renewable Energy (FDRE) solutions.
Category: B2B Services
Incorporates Standalone Battery Energy Storage Systems (BESS) into its renewable energy projects.
Category: Manufacturing
Establishes facilities for solar PV module manufacturing and is involved in Green Hydrogen and Green Ammonia initiatives.
Core Thesis: The ACME Group pursues large-scale, purpose-built ventures across energy, technology, nutrition, and policy sectors through integrated businesses.
• Renewable Energy Focus: Specializes in developing, building, owning, and operating solar, wind, hybrid, and FDRE projects. • Energy Transition Solutions: Drives India's transition to sustainable energy with a diverse portfolio including BESS. • Innovation in Green Technology: Expands into manufacturing and advanced solutions like Green Hydrogen and Green Ammonia. • Integrated Group Approach: Leverages other ACME Group businesses in manufacturing, chemicals, and food for synergistic ventures.