ACME Solar Holdings Shares Surge 8% on Strong Business Updates, Analysts Predict Further Growth
Mumbai, March 27 – ACME Solar Holdings shares jumped 8% on Friday, March 27, following a series of positive business updates and driven by expert predictions of significant long-term growth. The stock opened at ₹253.45 and reached an intraday high of ₹274.35, extending its winning run for the third consecutive session.Recent Project Commissions Fueling Share Price Rise
The surge in ACME Solar Holdings’ share price is attributed to recent announcements regarding the commissioning of key renewable energy projects. On March 24, ACME Surya Power Private Limited completed the second phase of a 35.714 MW/160.48 MWh battery energy storage system (BESS) project in Bikaner, Rajasthan, part of a larger 250 MW/1,103.392 MWh capacity. Earlier, on March 13, the company announced the completion of 142.67 MW/481.49 MWh of BESS in phase one of its planned 585 MW/2011.24 MWh capacity under its Rajasthan SPVs. Furthermore, on March 26, ACME Eco Clean Energy Private Limited commissioned an additional 4 MW of wind power capacity at Surendranagar, Gujarat.Analysts See Significant Long-Term Potential
Experts believe ACME Solar Holdings is poised for continued growth. Investec initiated coverage with a buy rating, targeting a price of ₹319, based on a 9 times FY28E EV/EBITDA valuation. The firm highlighted ACME’s evolution into India’s leading firm in dispatchable renewable energy (FDRE), driven by solar-wind-storage hybrid solutions. Investec noted that ACME’s 5.1GW under construction pipeline projects are expected to scale installed capacity to 6GW by FY28 and 8GW by FY30E, representing a robust 26% Compound Annual Growth Rate (CAGR) over FY25-30E. The majority of these projects are awarded by central nodal agencies including SECI, NTPC, NHPC, and SJVN, minimizing counterparty risk.Centrum Broking has also initiated a buy rating, with a target price of ₹315. The brokerage firm emphasized ACME’s position as a fast-growing renewable independent power producer (IPP) with a diversified portfolio. Centrum projects a 60%, 61%, and 76% CAGR in revenue, EBITDA, and PAT, respectively, over FY25-28E. By 2030, ACME aims to have 10GW of generational capacity and 20GWH of BESS capacity.
| Financial Metric | FY25E | FY28E |
|---|---|---|
| Installed Capacity (GW) | 2.5 | 6.0 |
| BESS Capacity (GWH) | 0 | 20.0 |
| Revenue (₹ Billion) | 59 | 120 |
| EBITDA (₹ Billion) | 53 | 53 |
| PAT (₹ Billion) | 12 | 12 |
| EBITDA Margin (%) | 87.9% | 89.5% |
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