| Market Cap | ₹29,063 CrMid-range Performer |
|---|---|
| P/E TTM | 48.16Sector PE 20.96 |
| 1Yr Return | 44.98%Price Performance |
| RSI | 49.72Neutral Zone |
| Order from | NTPC Limited |
| Execution period | Scheduled Commencement of Supply Date 30.06.2028; project tenure 25 years from SCSD |
Key highlights
- Agreement signed for a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project
- Contract executed under NTPC FDRE Tranche 01 with a fixed tariff of ₹4.37 per unit
- Scheduled Commencement of Supply Date (SCSD) is set for June 30, 2028
- Project tenure spans 25 years from the commencement of supply
- Company's total contracted portfolio capacity reaches 8,400 MW as of October 2026
Long-Term Energy Supply to NTPC
ACME Solar Holdings, through its subsidiary ACME Marigold Urja Private Limited, has formalised a long-term commitment with NTPC Limited for a 400 MW power project. This agreement is part of the Firm and Dispatchable Renewable Energy Tranche 01, designed to provide steady renewable power. The project is structured with a 25-year tenure starting from the Scheduled Commencement of Supply Date, which is fixed for June 30, 2028.
By securing a tariff of ₹4.37 per unit, the company ensures a stable revenue stream for over two decades, reinforcing its position in the competitive utilities sector and supporting India's green energy transition goals.
Growing Portfolio and Bidding Pipeline
- The company reported a contracted portfolio of 8,400 MW as of October 28, 2026, across operational and under-construction sites
- Management has upgraded its 2030 renewable generation target from 10 GW to 15 GW to meet rising demand
- A near-term bidding pipeline of over 20 GW exists across Solar, BESS, and FDRE categories
- The current project follows a recent 300 MW PPA with SECI signed on October 19, 2026, at a tariff of ₹6 per unit
- ACME Solar previously secured a 250 MW FDRE project through a PPA with NHPC in January 2026
Financial Performance Context
The news of the NTPC agreement follows a strong financial quarter for ACME Solar. For the period ended June 30, 2026, the company achieved an operating revenue of ₹857.5 crore, marking a 67.8% year-on-year increase. Net profits for the same quarter rose 79.9% to ₹235.33 crore, while operating margins remained high at 85.6%.
This operational efficiency, combined with a TTM net profit of ₹603.43 crore, provides the financial cushion needed to execute large-scale projects like the NTPC contract. The company is also expanding its battery storage footprint, targeting over 12 GWh of BESS commissioning by FY27.
| Date | Announcement | Amount |
|---|---|---|
| 19 Oct 2026 | Signed PPA with SECI for 300 MW / 1,200 MWh assured peak supply under SECI FDRE-IX tranche at Rs 6/unitSource: BSE filing | – |
| 28 Aug 2026 | Received Letter of Award from SECI for 300 MW assured peak power project under SECI-FDRE-IX tenderSource: BSE filing | – |
| 26 Aug 2026 | Signed 25-year PPA with Northeast Frontier Railway for a 130 MW round-the-clock renewable energy projectSource: powerpeakdigest.com | – |
| 21 Jul 2026 | Signed 25-year PPA with SECI for a 300 MW ISTS-connected wind-solar hybrid project under Hybrid Tranche IXSource: BSE filing | – |
| 02 Mar 2026 | Signed two PPAs aggregating 450 MW with SJVN for firm and dispatchable renewable energy projectsSource: NSE filing | – |
| 30 Jan 2026 | Signed PPA with NHPC for 250 MW ISTS-connected FDRE Tranche-VI projectSource: acmesolar.in | – |
What to watch next
- Scheduled commercial operation of the 35.77 MW BESS project at Bikaner on October 29, 2026
- Updates on the execution of the 12+ GWh BESS commissioning guidance for FY27
- Results of the 20 GW bidding pipeline tenders in the coming quarters
| Share price | ₹411.15 |
|---|---|
| Market capitalisation | ₹29,063.14 Cr |
| Revenue (annual) | ₹2,023.38 Cr |
| Net profit (annual) | ₹498.92 Cr |
| Revenue (latest quarter) | ₹857.50 Cr+56.52% vs previous quarter |
| Net profit (latest quarter) | ₹235.33 Cr+68.92% vs previous quarter |
| P/E (TTM) | 48.16×Sector 20.96× |
| Promoter holding | 71.4%0.00% QoQ |
| FII holding | 6.44%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by ACME Solar Holdings Limited announcing the execution of a Power Purchase Agreement with NTPC Limited. Market figures from a third-party data provider.
