ACME Solar Holdings Ltd is one of India’s leading independent power producers (IPPs) in the renewable energy space. Incorporated in 2015, the company has built a diversified portfolio spanning solar, wind, hybrid, and firm & dispatchable renewable energy (FDRE) projects with long-term power purchase agreements (PPAs). With an operational capacity of over 2.9 GW and a strong project pipeline that includes battery storage integration, ACME Solar is positioning itself at the forefront of India’s clean energy transition. This article provides a clear, fact-based analysis of its business model, financial health, and strategic outlook to establish realistic share price targets for the years 2026 through 2030.
ACME Solar Holdings: Company Overview
- Business Model: Pure-play renewable energy IPP generating revenue from long-term PPAs (typically 25 years) for solar, wind, hybrid, and FDRE projects.
- Geography: Operates across 10 Indian states, with assets strategically located in high-insolation and high-wind zones.
- Key Developments: The company recently won a 200 MW solar + 100 MW/400 MWh battery energy storage system (BESS) PPA with SECI at ₹3.42/unit. It also commissioned additional capacity in Gujarat, bringing its total operational portfolio to 2,934 MW as of November 2025.
ACME Solar Holdings: Key Financial Snapshot (as of January 2026)
| Metric | Value |
|---|---|
| Current Share Price | ₹237 |
| Market Capitalization | ₹14,352 Crore |
| 52-Week High/Low | ₹324 / ₹168 |
| P/E (TTM) | 28.4 |
| P/B (TTM) | 3.0 |
| ROE (FY2025) | 7.57% |
| Debt/Equity (Mar 2025) | 0.50 |
| FY2025 Revenue | ₹1,405 Crore |
| FY2025 Net Profit | ₹251 Crore |
ACME Solar Holdings Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹260 – ₹320 |
| 2027 | ₹310 – ₹380 |
| 2028 | ₹370 – ₹460 |
| 2029 | ₹440 – ₹550 |
| 2030 | ₹520 – ₹650 |
Note: These targets are derived from a synthesis of credible analyst discussions and projections found in the public domain, adjusted for a neutral, educational perspective.
ACME Solar Holdings Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹260 | ₹320 |
- The company’s strong FY2025 net profit of ₹251 crore, after years of minimal earnings, marks a significant inflection point.
- A low debt-to-equity ratio of 0.50 provides a stable financial foundation for future growth.
- Continued commissioning of its large project pipeline offers clear visibility for revenue and earnings growth in the near term.
ACME Solar Holdings Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹310 | ₹380 |
- Growth will be driven by the full-year contribution of newly commissioned assets and the ramp-up of its FDRE and BESS projects.
- Its leadership in providing round-the-clock (RTC) renewable power gives it a competitive edge in winning new government tenders.
- Investor sentiment should remain positive given its status as one of India’s top 10 renewable players by operational capacity.
ACME Solar Holdings Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹370 | ₹460 |
- By this stage, the benefits of its integrated business model—combining in-house EPC, O&M, and storage—should lead to improved margins and operational efficiency.
- The successful execution of its current pipeline will significantly boost its asset base and recurring annuity income.
- Market valuation could see a re-rating if the company can sustainably improve its Return on Equity beyond 7-8%.
ACME Solar Holdings Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹440 | ₹550 |
- Long-term investors will be watching for the company’s ability to scale into new technologies like green hydrogen or pumped hydro storage.
- Its strong track record in securing PPAs at competitive tariffs provides a durable moat against new entrants.
- A sustained focus on deleveraging and cash flow generation will be key to supporting its growth ambitions.
ACME Solar Holdings Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹520 | ₹650 |
- Sentiment will depend on ACME Solar achieving its next major milestone, such as crossing the 5 GW operational mark.
- If it can maintain a healthy balance sheet while delivering consistent earnings growth, it could command a premium among mid-cap renewable stocks.
- Its role in enabling grid stability through dispatchable renewables makes it a strategic player in India’s energy future.
ACME Solar Holdings: Shareholding Pattern (as of September 2025)
| Category | Holding (%) |
|---|---|
| Promoters | 38.5% |
| Foreign Institutions (FII/FPI) | 10.2% |
| Domestic Institutions (DII) | 12.8% |
| Public (Retail & Others) | 38.5% |
Promoters hold a significant stake in the company. As per available disclosures, 0% of promoter shares are pledged, which is a strong positive signal for governance and long-term commitment.
ACME Solar Holdings: Strengths vs Risks
- Strengths:
- Diversified Portfolio: Exposure to solar, wind, hybrid, and FDRE reduces technology-specific risk.
- Long-Term PPAs: 25-year contracts with government entities ensure stable, predictable cash flows.
- Integrated Capabilities: In-house EPC and O&M functions provide cost control and quality assurance.
- Clean Promoter Holding: No pledged shares enhance investor confidence.
- Risks:
- Low Profitability Metrics: ROE of 7.57% and ROCE of 8.42% are modest for a capital-intensive growth company.
- Execution Risk: Scaling up to multi-GW levels requires flawless project management and timely financing.
- Regulatory Dependence: Revenue is tied to government-backed PPAs, making it vulnerable to policy or payment delays.
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High (mid-cap, growth-oriented) |
| Time Horizon | Long-term (5+ years) – growth story |
| Volatility | High – typical of mid-cap renewable stocks |
| Dividend/Income | Minimal – current yield is just 0.08%. Profits are reinvested for growth. |
| Ideal Investor | Growth-oriented investors with a moderate-to-high risk appetite who believe in India’s renewable energy future and seek exposure to a leading IPP with a strong project pipeline. |
ACME Solar is best suited for investors seeking capital appreciation over income, with a long-term view on the sector.
FAQs
What business does ACME Solar Holdings do?
ACME Solar is a renewable energy company that develops, owns, and operates solar, wind, hybrid, and firm & dispatchable renewable energy (FDRE) projects across India. It sells power under long-term PPAs.
What is ACME Solar Holdings’ current share price and key financials?
The stock trades around ₹237. In FY2025, it reported revenue of ₹1,405 crore and net profit of ₹251 crore, with an ROE of 7.57%.
Who are the major shareholders?
Promoters own approximately 38.5% of the company, with no pledged shares. The rest is held by institutional and retail investors.
What is the ACME Solar Holdings share price target for 2026?
Based on our analysis of its improving fundamentals and sector tailwinds, we estimate a 2026 range of roughly ₹260 – ₹320.
What are the main growth drivers and risks for the stock?
Growth drivers include its large project pipeline, leadership in RTC power, and strong PPA book. Key risks are its modest return ratios and the execution complexity of large-scale renewable projects.
Final Verdict
ACME Solar Holdings has successfully transitioned from a development-stage company to a significant power producer with a robust operational portfolio. Its strategic focus on firm and dispatchable renewable energy positions it uniquely to meet the grid’s evolving needs. While its current return metrics are modest, the massive opportunity in India’s 500 GW non-fossil fuel target by 2030 provides a compelling long-term runway. For investors with a high conviction in the renewable sector and a tolerance for mid-cap volatility, ACME Solar offers a direct and scalable play. Our 2026–2030 price targets (₹260–₹650) assume continued successful execution, margin improvement, and sustained policy support.
Sources
- Screener.in – ACME Solar Holdings Ltd. Consolidated Financials (FY2025)
- Groww.in – ACME Solar Fundamental Data
- Finology Ticker – ACME Solar Stock Analysis
- Trendlyne – ACME Solar Research Report
- Tickertape – ACME Solar Holdings Company Profile
- ACME Solar Investor Presentations & BSE Announcements (Nov-Dec 2025)
