Synopsis: ACME Solar Holdings Ltd gained after bagging a Letter of Award (LOA) for a 50 MW Firm and Dispatchable Renewable Energy (FDRE) project in Tata Power-D’s 250 MW tender.
A renewable energy stock rose in trade on September 3 after the company secured a significant project order in the FDRE segment. The development, coupled with healthy quarterly earnings and expanding capacity, boosted investor sentiment and drove positive price action.
ACME Solar Holdings Ltd, with a market capitalization of Rs. 17,798.66 crore, opened at Rs. 284.25 against the previous close of Rs. 287. The stock touched an intraday high of Rs. 303.60, marking a 5.8 percent increase from the previous close.
What’s the News?
The company announced it has received a Letter of Award for a 50 MW Firm and Dispatchable Renewable Energy project at a tariff of Rs. 4.43 per unit. The project was part of a 250 MW FDRE tender floated by Tata Power Company Limited’s distribution arm, Tata Power-D, under tariff-based competitive bidding. An e-reverse auction was conducted on August 13, 2025, leading to the award.
The project will need to maintain a minimum annual CUF of 40 percent and provide four hours of peak-hour supply with 90 percent monthly availability. It will integrate solar and battery energy storage systems to meet supply obligations under a 25-year PPA, with commissioning required within 24 months of signing.
Financial Snapshot
On a sequential basis, revenue grew 4.9 percent to Rs. 511 crore in Q1FY26 from Rs. 487 crore in Q4FY25. Operating profit increased 5 percent to Rs. 458 crore from Rs. 436 crore. Profit before tax rose 4.8 percent to Rs. 174 crore from Rs. 166 crore, while net profit climbed 7.4 percent to Rs. 131 crore from Rs. 122 crore.
On a year-on-year basis, revenue jumped 64.8 percent to Rs. 511 crore in Q1FY26 from Rs. 310 crore in Q1FY25. Operating profit surged 68.4 percent to Rs. 458 crore from Rs. 272 crore. Profit before tax more than tripled, rising 248 percent to Rs. 174 crore from Rs. 50 crore, while net profit soared to Rs. 131 crore compared to Rs. 1 crore, marking a sharp turnaround.
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Capacity Update
As of June 30, 2025, the company’s operational capacity stood at 2,890 MW, up 115.7 percent year-on-year from 1,340 MW in Q1FY25. Under-construction projects total 4,080 MW, with 15 percent in solar, 2 percent in wind, and 83 percent in FDRE, hybrid, and other technologies.
Additionally, the company has 550 MWh of standalone battery storage projects under development. Power purchase agreements have been signed for around 55 percent of the under-construction capacity. Looking ahead, the company targets building a portfolio of 10 GW of generation capacity and 15 GWh of storage capacity by 2030.
About the Company
ACME Solar Holdings is a leading integrated renewable energy company with a diverse portfolio covering solar, wind, storage, FDRE, and hybrid solutions. With an operational base of 2,890 MW, it leverages in-house EPC and O&M capabilities to deliver cost-efficient and timely projects. The company is recognized for its industry-leading capacity utilization factors and strong operating margins.
Written by – Manan Gangwar
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