This small-cap Solar Stock, engaged in developing, financing, and operating solar power projects and engaged in delivering renewable energy solutions across India and abroad, is in focus after executing executes Power Purchase Agreement with SECI for the 300 MW Sikar Solar Project in Rajasthan.
With a market capitalization of Rs. 14,912.39 crores, the share of ACME Solar Holdings Limited has reached an intraday high of Rs. 251.45 per equity share, rising nearly 1.11 percent from its previous day’s close price of Rs. 248.70. Since then, the stock has retreated and is currently trading at Rs. 246.45 per equity share.
ACME Sikar Solar Private Limited, a subsidiary of ACME Solar Holdings, has signed a 25-year Power Purchase Agreement (PPA) with SECI for a 300 MW solar project in Rajasthan at a fixed tariff of Rs. 3.05 per kWh. The project, commissioned on June 23, 2025, was awarded under SECI ISTS XVIII tranche and approved by CERC on May 30, 2025. Power supply is set to begin before June 30, making it eligible for ISTS charge waivers.
With this, ACME Solar’s PPA-backed capacity reaches 5,130 MW, of which 2,890 MW is operational and the rest is under development. An additional 1,840 MW has received LOAs. Around 86 percent of ACME’s energy is sold to central government agencies, and the remaining 14 percent to state discoms, showing strong offtake security.
ACME Solar Holdings Limited was established in 2015 and is one of India’s leading renewable energy independent power producers (IPP), with a diversified portfolio across solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects.
As of mid-2025, the company manages a portfolio targeting 6.97 GW of capacity, making it one of the top 10 renewable energy players in India by operational capacity. The company is also planning to expand its portfolio of 10 GW capacity by 2030.
IPO: ACME Solar Holdings Limited launched its Rs. 2,900 crore IPO from November 6 to 8, 2024, with a price band of Rs. 275-289 per share. The issue included a fresh equity raise of Rs. 2,395 crore and an offer for sale of Rs. 505 crore. Shares were listed on the BSE and NSE on November 13, 2024
Coming into financial highlights, ACME Solar Holdings Limited’s revenue has increased from Rs. 349 crore in Q3 FY25 to Rs. 487 crore in Q4 FY25, which has grown by 39.54 percent. The net profit has also grown by 8.93 percent, from Rs. 112 crore in Q3 FY25 to Rs. 122 crore in Q4 FY25.
In terms of return ratios, the company’s ROCE and ROE stand at 8.40 percent and 7.50 percent, respectively. ACME Solar Holdings Limited has an earnings per share (EPS) of Rs. 4.17, and its debt-to-equity ratio is 2.43x.
Written By – Nikhil Naik
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