Synopsis: Renewable Energy shares rose 9% after commissioning 142.67 MW/481.49 MWh BESS in Rajasthan, part of its 585 MW Phase-1 plan, aiming for 17 GWh. Linked to ISTS, the units will operate merchant initially, support FDRE projects, and boost grid reliability by shifting energy across demand cycles.
The shares of a Small-Cap company, specialising in the development, construction, ownership, operation, and maintenance of large-scale renewable energy projects in India, are in focus as they have rallied 9 percent in the day’s trade.
With a market capitalization of Rs. 15,537.12 crores in the day’s trade, the shares of ACME Solar Holdings Ltd rose by upto 9.2 percent, making a high of Rs. 262.45 per share compared to its previous closing price of Rs. 240.15 per share.
What Happened
ACME Solar Holdings Ltd, through its subsidiaries, has commissioned 142.67 MW / 481.49 MWh of Battery Energy Storage System (BESS) in Rajasthan as part of phase-1 of its planned 585 MW / 2011.24 MWh BESS capacity. The company’s overall portfolio aims to install around 17 GWh of BESS across multiple phases in different states.
The newly commissioned BESS units are connected to the existing Inter-State Transmission System (ISTS) and will initially operate on a merchant basis, generating additional revenue by leveraging peak and non-peak demand price differentials. Eventually, they will integrate with the respective FDRE projects and operate under 25-year PPAs.
These BESS installations are designed to enhance grid reliability, optimise power utilisation, and support energy balancing by charging during low-demand periods and discharging during peak demand hours, contributing significantly to overall grid stability.
Recently, ACME Solar Holdings Limited (ACME Solar), through its subsidiary ACME Greentech Seventh Private Limited, also signed two 25-year Power Purchase Agreements (PPAs) with SJVN for a total capacity of 450 MW / 1,800 MWh under the Tranche-FDRE-4 tender issued via Tariff-Based Competitive Bidding.
Under the PPAs, ACME Solar will provide 4 hours of assured peak power during non-solar hours with 90% monthly and annual availability. With this addition, ACME Solar has signed 1,690 MW of PPAs in the current financial year, taking the total PPA-signed capacity to 6,270 MW.
Financials
The company’s revenue rose by 42.34 percent from Rs. 349 crore in December 2024 to Rs. 497 crore in December 2025. Meanwhile, Net profit rose from Rs. 112 crore to Rs. 114 crore during the same period.
The company has delivered a decent financial performance with a ROCE of 8.42% and ROE of 7.57%, while maintaining an attractive PEG ratio of 0.64. Over the last five years, it has achieved strong profit growth at a CAGR of 25.7%. The Operational efficiency has also improved, with debtor days reduced from 138 to 98.9 days, reflecting better collections and working capital management.
ACME Solar Holdings Ltd, founded in 2015 and part of the ACME Group, is a leading Indian renewable energy IPP, managing a large portfolio of solar, wind, hybrid, and FDRE projects. The company handles end-to-end project development, including EPC and O&M services. It operates across many states with a goal to achieve 10GW+ capacity.
The company has a diversified portfolio of 7,770 MW 16 GWh of BESS installation, across solar, wind, storage, hybrid, and FDRE projects, with 5,630 MW of PPAs already signed. Over 80% of the portfolio is backed by central offtakers, highlighting its strong presence in new-age technologies like FDRE and hybrid solutions.
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