Page 2 - Acme Solar

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

MSCI review impact: Acme solar, Authum up 10%; Nykaa up 3%, Paytm drops 3%

Shares of the agrochemicals firm Coromandel traded muted, even as it was included in the MSCI Global Standard Index

Dividend stocks: ABB India, KSB, 4 others to remain in focus today

Here is the complete list of stocks that will remain in the spotlight during trading sessions following their dividend announcements to shareholders as they go ex-date on Friday, May 2, 2025

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)

Stocks to watch, Mar 3: Auto stocks, Coal India, Hindustan Zinc, ACME Solar

Stock market today: Glenmark Pharma is recalling close to 15 lakh bottles of a generic medication used in treating attention deficit hyperactivity disorder in the US market, as reported by the US FDA

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

ACME Sun Power secures Rs 3,753-cr term loan from state-owned REC

ACME Sun Power, a wholly-owned subsidiary of ACME Solar Holdings, has secured a Rs 3,753-crore term loan from state-owned REC Ltd. The loan has been secured for the development and construction of a 320-MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN. Wholly-owned subsidiary ACME Sun Power Secures Rs 3,753 crore loan from REC for FDRE projects in Rajasthan and Gujarat, ACME Solar Holdings said in a statement on Sunday. An FDRE plant ensures round-the-clock power supply, assisting power distribution companies (discoms) in fulfilling their renewable purchase obligations and energy storage obligations. The project would be located at high resource potential areas at Jaisalmer, Rajasthan for solar capacity and Bhuj and Jam Khambhaliya, Gujarat for wind sites, the company said. A power purchase agreement has been signed with SJVN and the grid connectivity has also been secured. The land acquisition process is in advanced stages, the company said. Ma

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

ACME Solar Holdings IPO subscribed 2.75 times on closing day of offer

The Initial Public Offer (IPO) received bids for 16,00,11,174 shares against 5,82,03,223 shares on offer, according to data available with the NSE

BluPine Energy completes acquisition of 369 MW solar assets from Acme Group

Renewable energy player BluPine Energy on Monday said it has completed the acquisition of 369 MW solar power assets from Acme Group. The 369 megawatts of solar capacity power assets are spread across Uttarakhand, Punjab, and Karnataka and augment its total renewable capacity to 2.4 gigawatts, BluPine Energy said in a statement. Neerav Nanavaty, CEO of BluPine Energy, said, "The renewable energy sector in India continues to witness remarkable growth. We have high-quality solar assets in our portfolio, further solidifying our commitment to driving positive change in India's energy sector." BluPine Energy is a leading renewable energy services company established in India by Actis, a global investor and leader in funding and building sustainable infrastructure companies. With an investment of USD 800 million from Actis' Energy Fund 5, BluPine Energy is dedicated to developing a renewable energy portfolio of over 4 GW in India. The company did not disclose the deal value.

India's ACME Group gets $490 million in funding for Oman project

The facility is expected to produce 100,000 tons of green ammonia annually in its starting phase

ACME Group forays into wind power sector with 50 MW project in Gujarat

ACME Group on Friday announced its foray into the wind power sector with a 50 MW project in Gujarat. The group has forayed into the wind power business and signed a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL), a company statement said. At present, ACME operates solar power plants in 12 states and supplies electricity to 13 state discoms. "ACME Group wins its first 50 MW grid-connected wind power project. This is a significant milestone as the company gears up to provide solar-wind Hybrid and RE RTC power. This is in line with ACME Group's vision to become a prominent RE RTC player," ACME Group Chief Operating Officer Sandeep Kashyap said. The company was awarded the project through a tariff-based competitive bidding process for electricity procurement from grid-connected wind power projects. The project should be commissioned within 24 months from the signing of the PPA. The electricity from this project will help to light up nearly 6 million home

Modi says India best for investments; JSW, Adani commit Rs 1 trn in K'taka

JSW, Adani commit to spend over Rs 1 trn each in Karnataka over 5-7 years

ACME Group to invest Rs 1.5 trn in green hydrogen over 7 yrs; seeks tie-ups

Plans come at a time when govt is likely to announce a green hydrogen purchase obligation for fertiliser and petroleum units, similar to renewable purchase obligation

ACME, Tata Power among 60 firms to sign MoUs worth Rs 1.25 trn with TN govt

Chief Minister M K Stalin also lays foundation stone for 21 projects with an investment commitment of Rs 22,252 crore and employment potential for about 17,654 persons

ACME Cleantech to invest Rs 52,000 crore for hydrogen, ammonia plant

The firm has built a solar portfolio of over 6 gigawatts-peak and operates over 1.5 GWp of capacity with another 10 GWp under construction