The shares of Renewable Energy stock, which specializes in large-scale solar power generation and provides clean energy solutions, hit 10 percent upper circuit upon declaring Q3 results and generating profit with a 632 percent rise Quarter on Quater (QoQ)
Price action
With a market capitalization of Rs. 10,543 crores on Wednesday, the shares of ACME Solar Holdings Limited hit 10 percent upper circuit making a high of Rs. 191.23 per share compared to its previous closing price of Rs. 173.85 per share.
What Happened
ACME Solar Holdings Limited which specializes in large-scale solar power generation and provides clean energy solutions has announced its Q3FY25 results
Its Total income grew by 5.2 percent YoY from Rs. 331.6 Crores in Q3FY24 to Rs. 349.0 Crores in Q3FY25 and it grew by 34.4 percent QoQ from Rs. 259.5 Crores in Q2FY25 to Rs. 349.0 Crores in Q3FY25.
Its Net Profit rose 152.3 percent YoY from Rs. 44.4 Crores in Q3FY24 to Rs. 112.05 Crores in Q3FY25 and it rose by 637.1 percent QoQ from Rs. 15.2 Crores in Q2FY25 to Rs. 112.05 Crores in Q3FY25.
The earnings per share (EPS) for the quarter stood at Rs. 2.09, compared to Rs. 0.29 in the previous quarter and Rs. 0.8 in the same quarter last year.
About the Company
Acme Solar Holdings Limited is a prominent player in the renewable energy sector, primarily focused on the development, operation, and management of solar power projects. Acme Solar plays a key role in contributing to the country’s renewable energy targets.
Business Highlights
The company’s operating capacity increased by 90 percent from 1,340MW in FY24A to 2.540MW in the current year and the operational portfolio split of (2,540MW) with 67 percent held by central off-takers and 33 percent held by state off-takers, along with it PPA signed for 2,340 MW (53 percent) out of Under Construction (UC) capacity of 4,430 MW.
Peers Comparision (Q3 FY25)
ACME Solar, NTPC Green, and Adani Green are key players in the renewable energy sector with significant solar power capacities. ACME Solar has an operational capacity of 2,540 MW, all from solar projects. NTPC Green operates a total of 3,475 MW, with 100 MW from wind energy and the remaining from solar. Adani has the highest total capacity of 11,610 MW, with 7,756 MW from solar, 1,714 MW from wind, and 2,140 MW from hybrid projects.
Written by Sridhar J
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