Page 3 - Acme Solar Holdings

ACME Solar Holdings Q4 results: Net profit dips 77% to Rs 122 crore

ACME Solar Holdings has reported a more than 77 per cent dip in consolidated net profit to Rs 122 crore for the March quarter, mainly due to an exceptional gain in the year-ago period. In January-March FY24, the company had reported an exceptional gain of Rs 696 crore from the divestment of 369 MW of operational solar assets in Punjab, Uttarakhand, and Karnataka, it said. The company had clocked Rs 532.3 crore net profit in Q4 FY24 on account of the exceptional gain. However, the company increased its total income to Rs 539.2 crore in the fourth quarter from Rs 318 crore in the year-ago quarter, a BSE filing said on Monday. As per the filing, its finance costs increased to Rs 205.5 crore from Rs 177.3 crore in the January-March period of FY24. Depreciation and amortisation expenses also rose to Rs 102.2 crore from Rs 61.2 crore in Q4 FY24. For the entire FY25, the net profit rose to Rs 250.8 crore from Rs 697.7 crore in FY24. In a separate filing, the company said its wholly-own

ACME aims Rs 10K cr revenue from solar module, cell manufacturing by 2030

ACME Group is targeting Rs 10,000 crore revenue from solar module and solar cell manufacturing business by 2030. This is part of its strategic business diversification strategy as ACME Group expands its business footprint beyond Renewable Energy generation, a statement said. According to the statement, ACME Group is targeting Rs 10,000 crore in revenue by 2030 from solar module and solar cell manufacturing business. The Gurgaon-based group has entered the renewable equipment manufacturing sector with a current investment of about Rs 230 crore and a solar module manufacturing facility in Jaipur, Rajasthan, with an annual capacity of 1.2 Gigawatts. The solar modules manufacturing facility was commissioned recently and employs more than 700 people. ACME Group plans to further scale up the manufacturing capacity as well as establish a new cell manufacturing facility under its new business entity ACME Renewable Equipment Manufacturing. The Ministry of New and Renewable Energy's (MNRE)

ACME Solar plans Rs 17,000 crore capex by 2026 for renewable expansion

ACME Solar on Sunday said it has planned an investment of Rs 17,000 crore on capital expenditure by 2026 with a focus on hybrid and round-the-clock renewable capacities. The company is also evaluating entry in nuclear energy segment, though these plans are at a drawing board level, ACME Solar said in a statement. ACME Solar Holdings plans to invest Rs 17,000 crore by 2026, according to the statement. "We intend to focus our new capacities on the revenue and margin accretive hybrid and FDRE (Firm and Dispatchable Renewable Energy) projects as a critical pivot in our business strategy," CEO Nikhil Dhingra said. Renewable energy projects integrated with energy storage systems are referred as FDRE projects. Such projects ensure round-the-clock supply of green power, addressing challenges related to variable RE production. Dhingra further said that ACME Solar plans to roll out its capacity expansion in two phases starting in April this year. As of the nine-month period of FY25, ACME .

ACME Solar plans Rs 17,000 crore capex for hybrid renewables in FY26

ACME Solar on Sunday said it has planned an investment of Rs 17,000 crore on capital expenditure in FY26 with a focus on hybrid and round-the-clock renewable capacities. The company is also evaluating entry in nuclear energy segment, though these plans are at a drawing board level, ACME Solar said in a statement. ACME Solar Holdings plans to invest Rs 17,000 crore to boost renewable energy capacity to 5 GigaWatts by 2027. As a broader strategy, ACME Solar aims to treble its current renewable capacity to reach 7 GW by 2028, according to the statement. "We intend to focus our new capacities on the revenue and margin accretive hybrid and FDRE (Firm and Dispatchable Renewable Energy) projects as a critical pivot in our business strategy," CEO Nikhil Dhingra said. Renewable energy projects integrated with energy storage systems are referred as FDRE projects. Such projects ensure round-the-clock supply of green power, addressing challenges related to variable RE production. Dhingra furt

Motilal Oswal says 'Buy' ACME Solar for 59% upside, initiates coverage

ACME Solar share rose after Motilal Oswal initiated coverage with 'Buy' rating for a target price of Rs 330, which reflects an upside potential of 58.95% from the previous close (Feb 4) of Rs 207.60

ACME Solar Q3 results: Net profit jumps two-and-a-half-fold to Rs 112 cr

Integrated renewable energy firm ACME Solar Holdings on Wednesday posted two-and-a-half-fold jump in consolidated net profit to Rs 112 crore in the December quarter, compared to the year-ago period, mainly on the back of higher revenues. The company had a consolidated net profit of Rs 44 crore in the quarter ended on December 31, 2023, a company statement said. Total revenue rose to Rs 401 crore in the quarter under review, from Rs 365 crore in the same period a year ago. "In Q3 FY25, we delivered strong financial & operating performance, driven by significant capacity expansions," said Manoj Kumar Upadhyay, Chairperson & MD, ACME Solar Holdings. Upadhyay further said that a key milestone was the successful commissioning of the 1,200 MW ISTS (inter-state transmission system) SECI (Solar Energy Corporation of India) Plant in Rajasthan, taking our operational portfolio to 2,540 MW. This achievement represents one of the largest single-day commissioning of solar projects. The ...

ACME Solar gains 5% on commissioning 90W additional capacity in Rajasthan

ACME Solar Holdings commissioned solar power projects through its subsidiaries-- ACME Dhaulpur Powertech Private Limited and ACME Raisar Solar Energy Private Limited

Why are Acme Solar Holdings shares buzzing in trade today? Find out here!

Shares of Acme Solar Holdings surged up to 4.32 per cent at Rs 279.70 per share on the BSE in the early hours of trading on Thursday

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ACME Solar slips 7% on posting weak Q2 results; PAT down 60% YoY

The company's profit after tax (PAT) for the second quarter ended September 30, 2024, stood at Rs 15 crore, down 60 per cent year-on-year (Y-o-Y), as compared to Rs 39 crore a year ago

ACME Solar Holdings hits 10% upper limit as arm secures loan of Rs 3,753 cr

ACME Solar Holdings' stock surged after its wholly-owned subsidiary, ACME Sun Power Private Limited, secured term loan financing of Rs 3,753 crore from REC Limited

ACME Solar listing: Shares make poor debut on bourses at Rs 251 on NSE

ACME Solar shares opened lower on bourses at Rs 259 on BSE lower than Street's expectations

Market Today: CPI at 14-mth high; FIIs; Swiggy & ACME Solar IPO listing

Both Sensex and Nifty closed over 1 per cent lower on Tuesday, November 12, with the Sensex ending at 78,675.18 and the Nifty closing at 23,883.45 levels

Scatec and ACME put $400 million India solar development on hold

Scatec entered the Indian market last year by partnering with ACME to build the plant in the state of Rajasthan under a 25-year power purchase agreement with Solar Energy Corporation of India (SECI)

ACME seeks to tap global investors for its $2.7-bn India solar push

It is seeking to raise about a quarter of the total investment by tapping global investors from private equity firms to pension funds

ACME joins hand with UNSOPS & IFU for 250 MW solar project

The total value of the project is close to US$ 200 million, of which about a quarter would be financed through equity contributions by the three co-investors, ACME said in a statement.

Covid-19 crisis: ACME cancels pact to supply power at record low tariff

Files petition with CERC to prevent SECI and Power Grid Corp from encashing bank guarantee and letter of comfort submitted for project

ACME Solar's IPO plans on hold; company overvalued itself in first DRHP

The company also has a contract for a 250-Mw unit at the Rewa solar park in Madhya Pradesh