Nowadays, many renewable sector stocks are listed in the stock market at high premiums and currently, the stocks are very bullish. As ACME Solar is also one of the major independent renewable stocks in India, most probably in 2024, 2025, and 2026 the stock will give good returns as their target is high.
ACME Solar Holdings Ltd is one of the major players in the renewable sector. As of March 2024, the company was one of the top 10 players in the sector as per reports. On the other side, in the long term, the renewable sector is likely to be one of the top sectors for investing.
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About ACME Solar Holdings Ltd
ACME Solar Holdings Ltd company was established in 2015, it is a part of the ACME group. It is a large-cap company that is involved in the power generation and distribution business. The company is primarily involved in the renewable energy sector and generates power from solar, wind, and solar-wind hybrids.
The company is involved in the end-to-end management of solar projects as the company develops plants from scratch and manages them as well. Currently, the company is present in the 12 states of India.
As of now, the company generates power from 3 sources solar, wind, and solar-wind hybrid. Majorly the company involved in the power generates and distribution from solar power.
ACME Solar Holdings Ltd’s Projects
Solar Power Projects: The Company has 3,440 MW of Solar Power Projects in 11 states of India.
Wind Power Projects: The current wind power projects of the company are 150 MW.
Solar-Wind Hybrid Power Projects: The company has 1600 MW FDRW and 1130 MW Hybrid Projects.
ACME Solar Holdings Ltd’s Scrip Info
| NSE | ACMESOLAR |
| BSE | 544283 |
| ISIN | INE622W01025 |
| SECTOR | POWER GENERATION & DISTRIBUTION |
Company Analysis
Below you’ll find ACME Solar Holdings Limited’s company information like financials, fundamentals, and shareholding patterns. This information plays an important role in identifying good companies for investing.
Note: The shared information is not enough for a complete analysis of any company or stock. Kindly cross-check this information with any screener or broker.
Note: All the values are in (₹) Rupees Crore.
| Quarter | Net Profit & Loss |
|---|---|
| Sep 2023 | ₹ |
| Dec 2023 | ₹ |
| Mar 2024 | ₹ |
| Jun 2024 | ₹1.39Cr |
| Sep 2024 | ₹ |
| Year | Net Profit & Loss |
|---|---|
| Mar 2020 | ₹ |
| Mar 2021 | ₹15Cr |
| Mar 2022 | ₹62Cr |
| Mar 2023 | -₹3Cr |
| Mar 2024 | ₹698Cr |
Note: It is the company’s financial performance data, typically released every three months (quarterly) or once a year (annually).
| Market Cap | ₹ NA | ROE | 0.00% |
| P/E Ratio (TTM) | 0.00 | EPS (TTM) | 13.37 |
| P/B Ratio | 0.00 | Div. Yield | 0.00% |
| Industry PE | 33.86 | Book Value | 37.17 |
| Debt to Equity | 4.97 | Face Value | 2 |
| Held By | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|
| FIIs | NA | NA | NA | NA | NA |
| DIIs | NA | NA | NA | NA | NA |
| Public | NA | NA | NA | NA | NA |
| Promoters | NA | NA | NA | NA | NA |
| Other Holders | NA | NA | NA | NA | NA |
Key Insights
- Zero promoter pledge.
- High debt on the company.
- It is a profit-making company.
- The company’s debt-to-equity is 4.97.
- The company’s profit has increased over the years.
- 3 years of compounded sales growth of the company is -8%.
- 3 years of compounded profit growth of the company is 52%.
- One of the major leading top 10 independent renewable sector companies.
ACME Solar Share Price Target
ACME Solar’s share price target for 2024, 2025, and 2026 is positive for investors due to the current bullish market trend. Also, the renewable energy sector stocks are doing well, and good stocks are trading near their all-time high. But blindly investing in any stock can turn profits into losses.
Everyone should keep a few good stocks in the renewable sector as long-term investors. The sector stocks may give multi-bagger returns in the next 4 to 5 years. You should also analyze other companies in the sector for better investment opportunities.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2024 | ₹210 | ₹220 |
| 2025 | ₹250 | ₹350 |
| 2026 | ₹400 | ₹450 |
Disclaimer: AskDhan or we are not SEBI registered, and this is not a Buying or Selling recommendation. We will not be responsible for any loss or profit. This post is only for educational and learning purposes. All the targets given in the post are based on news, brokerage research, technical analysis, etc. We strongly recommend you talk to your financial advisor before making any decision.
ACME Solar Holdings Share Price Target 2024
On 13 Nov 2024, the stock was listed in the NSE and BSE exchanges. On the first day of listing, the stock is listed at Rs. 251 which is a 13% discount from the IPO price band. During the day, the stock made a high of Rs. 276.10, close it its lower price band.
But in the end, the stock crashed again as the stock market also crashed. As of 13 Nov the stock is closed at Rs. 253.15. If you fail to sell or exit, you may face a huge loss in the stock in the upcoming trading days.
In the stock, the target lower side (sell side), if the stock breaks its all-time low (Rs. 248.50), the stock may continue to fall. You can expect ACME Solar share price target of Rs. 210 to Rs. 220.
ACME Solar Share Price Target 2025 and 2026
In the long term, the business model of the company is good, and one of the major independent renewable companies in the power generation and distribution sector. The actual problem is that there is high debt on the company of Rs. 1,674.20 crore and its debt-to-equity is 4.97.
The annual profit and loss of the ACME Solar Holdings Ltd company is also not stable. Currently, there are only 4 years of net profit and loss available. In March 2021, its profit was Rs. 15 Crore, in March 2022 the profit was Rs. 62 Crore, and in March 2023 the company showed a net loss of Rs. 3 Crore, in March 2024 the profit was Rs. 698 crore.
On the other side, the sales of the company will continue to fall from March 2021 to March 2023. In March 2024, the sales slightly increased. The 3 years, compounded sales growth of the company is -8%.
In my view, the company is not good for investing in at this time as the stock is bearish and the financials of the company are also weak like high debt on the company. On the other side, the sales of the company have also not improved well over the years.
The company may use the money for prepayment and payment of the borrowings. It may reduce the company’s debt in the upcoming years. If you get the stock at a discounted price and you want to take the risk, you can invest after your analysis. In the stock, you can expect a target of Rs. 400 to Rs. 450.
FAQs
As of 13 Nov, the stock is looking very bearish. First, the stock listed at approximately 13% discounted price from its upper price band and after making a high, the stock crashed. Currently, the stock is down by 8-9% from its 52-week high.
The technicals, fundamentals, and financials of the company suggest the stock will be bearish in the short term, you can expect a see a target of Rs. 210 to Rs. 220. In the upcoming next few days.
In my view, ACME Solar Holdings is good for the long term as it is one of the top 10 independent renewable power sector companies. The company generates from solar and wind power generation methods but it primarily generates from Solar.
The company raised the money to put it in the business to expand it. The company uses the money for repayment or prepayment of the borrowings. Once it is done, the company’s profits will be increased with time.
Also, the company is profitable and has a low debt and zero promoter pledge. It means the company doesn’t have a struggle a lot.
Yes, it is one of the good sectors for long-term investing. There are many top and major players that are working hard and the government is also pushing it with various schemes. Do an analysis of the company from your side as well, before taking any decision, it is just an overview.
Final Words
ACME Solar Holdings Ltd is one of the top 10 major players in India as independent renewable energy. The company generates maximum revenue from its solar power business. It is a profitable company and possibly could deliver a good ACME Solar share price target for 2024, 2025, and 2026.