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ACME Solar Holdings Limited (ACMESOLAR) Fair Value & Analysis

Utilities · IN · Market cap ₹253B (≈ $2.7B) · ISIN INE622W01025

What is ACME Solar Holdings Limited really worth?

AS ACME Solar Holdings Limited ACMESOLAR · NSE
Price₹418.00
Fair Value₹128.71
Upside−69.2%
Quality25/100

Below-average quality, and trading another 225% above our fair value of ₹128.71.

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Strengths

Solidly profitable · 19.9% net margin

Risks

!Mixed Growth (revenue 5y +3.6 %/yr)
!High debt · negative free cash flow
!Trails peers (5/13)
!Moderate moat 62/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 1 out of 100

For context

·0.06% dividend yield
Evidence: Medium Range ₹128.71 – ₹228.84

Fair value as of: Aug 13, 2026

From 15 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from ₹84.43 to ₹128.71 (+52.4%) since Aug 2, 2026. Share price +9.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹228.84). The favourable scenario is already priced in.
  • Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (22 months)

₹418.00 ₹173.54 Fair Value ₹128.71 Nov 2024 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

22‑month range ₹173.54 – ₹418.00 · fair‑value band ₹128.71 – ₹228.84 · the ₹418.00 price screens above the ₹128.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

ACME Solar Holdings Limited (ACMESOLAR) currently trades at ₹418.00, while our model-based Fair Value estimate is ₹128.71, implying the stock looks roughly 224.8% overvalued today. The Quality Score stands at 25/100 (below-average quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of ₹308.97 per share, and 0 of the 15 models we run sit above the ₹418.00 price. Bear case: the Economic Profit group reads lowest at ₹39.15, and 15 of the 15 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, ACME Solar Holdings Limited generated revenue of ₹25.1B at a net margin of 19.9%. Revenue grew 12.5% year over year. It earns a return on equity of 10.4%. Net debt stands at ₹137B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹128.71 (bear case) to ₹228.84 (bull case); at ₹418.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 114% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −12% fair-value upside, at −69%, ACMESOLAR screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹3.42 per share, which is 2.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹5.90 to ₹334.98). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence ₹63.50 ₹71.17 ₹141.84 70
EPV ₹10.81 ₹39.15 ₹64.35 67
ROIC Compounder ₹10.81 ₹39.15 ₹64.35 65
All 15 models by family
Earnings-Based
Graham-Dodd ₹48.03 ₹334.98 ₹470.10 61
Lynch FV ₹173.06 ₹247.24 ₹321.41 59
PEG = 1.0 ₹173.06 ₹247.24 ₹321.41 55
EPV ₹10.81 ₹39.15 ₹64.35 67
Dividend Discount
Gordon GGM ₹3.30 ₹7.20 ₹12.11 63
DDM Multi-Stage ₹3.30 ₹5.90 ₹7.50 64
Multiples
P/E Multiple ₹95.36 ₹127.15 ₹158.94 63
P/S Multiple ₹53.71 ₹71.62 ₹89.52 58
P/B Multiple ₹90.06 ₹120.09 ₹150.11 55
EV/EBIT ₹59.39 ₹129.12 ₹198.86 62
EV/EBITDA ₹39.34 ₹102.39 ₹165.44 62
Asset-Based
NCAV (Graham) ₹35.83 ₹48.01 ₹71.66 54
Economic Profit
Residual Income best evidence ₹63.50 ₹71.17 ₹141.84 70
ROIC Compounder ₹10.81 ₹39.15 ₹64.35 65
Growth Earnings
Growth-Adj P/E ₹216.28 ₹308.97 ₹401.67 65

Widest divergence: Growth Earnings (₹308.97) versus Dividend Discount (₹5.90). Highest evidence: Residual Income (70).

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Key figures & financial health

P/E ratio 51.4
P/S ratio 12.7 P/E × margin
EPS (TTM) ₹8.14 price ÷ EPS = P/E 51.4
Dividend yield 0.0% payout 2.5%
Net margin 24.7% FY2026
Return on equity 10.4% TTM
More key figures
Profitability
Return on assets (EBIT) 6.8% avg 5y
Operating margin 65.0% TTM
Growth
Revenue (TTM) ₹25.1B TTM
Revenue growth (YoY) +12.5% 3y avg +16.1%
EPS growth (YoY) +6.3%
Balance sheet & cash flow
Free cash flow −₹53.0B FY2026
Net debt ₹137B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 25/100

Of which business quality 23 · Market factors (momentum, volatility) 74

Profitability 36
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 40
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

ACME Solar Holdings Limited, a solar independent power producing company, engages in developing, building, owning, operating, and maintaining utility scale grid connected solar power projects in India.

Full company description

ACME Solar Holdings Limited, a solar independent power producing company, engages in developing, building, owning, operating, and maintaining utility scale grid connected solar power projects in India. The company owns and operates solar energy projects with installed capacity of 2540 MW; and develops and constructs solar energy projects with capacity of 3780 MW. It is also involved in the wind power and hybrid power generation business. In addition, the company provides engineering, procurement, and construction services, as well as operation and maintenance services. It serves central and state government-backed entities. The company was founded in 2003 and is based in Gurugram, India. ACME Solar Holdings Limited is a subsidiary of ACME Cleantech Solutions Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

ACME Solar Holdings Limited reported revenue of ₹20.2B in FY2026 versus ₹14.9B in FY2022, a compound +8.0%/yr. Reported net income was ₹5.0B in FY2026, compounding +68.4%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.

Growth Quality 24/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹20.2B
Latest YoY
+44.0%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Avg. revenue growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+189.3%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+67.6% (67.6 + 0.0)
Revenue +8.0%/yr
FY22 ₹14.9B
FY23 ₹12.9B
FY24 ₹10.7B
FY25 ₹14.1B
FY26 ₹20.2B
Net income +68.4%/yr
FY22 ₹620M
FY23 −₹31.4M
FY24 ₹7.0B
FY25 ₹2.5B
FY26 ₹5.0B

ACMESOLAR screens 225% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "ACME Solar Holdings Limited Fair Value". https://www.fairvalue-calculator.com/stock/ACMESOLAR

Peer Group

Utilities - Renewable · 213 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 25 · Bottom 25%
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 10% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 65% · Top 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 3.31× · Higher than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 51.4× · Pricier than 75% of peers
P/B 4.99× · Pricier than 75% of peers
P/S (TTM) 10.08× · Pricier than 75% of peers
EV/EBITDA 15.8× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 6
FUTURE63 · sector 0
PAST42 · sector 14
HEALTH0 · sector 68
DIVIDEND1 · sector 44

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.96 ¥25.13 −10%
Ørsted A/S ORSTED kr 139.25 kr 31.40 −77%
Huaneng Lancang River Hydropower Inc 600025 ¥9.79 ¥5.57 −43%
Adani Green Energy Limited ADANIGREEN ₹1,319 ₹169.61 −87%
AXIA Energia SA AXIAP $10.74 $9.49 −12%
VERBUND AG OEWA €57.00 €66.19 +16%
BEP BEP $31.27 $70.40 +125%
BEPUN BEPUN C$45.05 C$42.83 −5%
Fortum Oyj FORTUM €19.80 €13.55 −32%
China Longyuan Power Group 001289 ¥15.92 ¥7.55 −53%

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Frequently asked questions

Is ACME Solar Holdings Limited (ACMESOLAR) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹128.71 versus a price of ₹418.00, about −69% upside (overvalued).
What is the fair value of ACMESOLAR?
Our model-based fair value for ACME Solar Holdings Limited is ₹128.71 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹418.00.
What is the quality score of ACMESOLAR?
ACME Solar Holdings Limited has a Quality Score of 25/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of ACME Solar Holdings Limited (ACMESOLAR)?
ACME Solar Holdings Limited reported trailing-twelve-month revenue of about ₹25.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ACMESOLAR?
The net profit margin of ACME Solar Holdings Limited is about 19.9%, meaning it keeps roughly 19.9% of revenue as net income. Based on the latest reported figures.
Does ACME Solar Holdings Limited pay a dividend?
ACME Solar Holdings Limited currently shows a dividend yield of about 0.05% relative to its recent price (as of Aug 13, 2026).
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