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Informist, Tuesday, Jul. 28, 2026

By Pratyush Kumar

MUMBAI - ACME Solar Holdings Ltd. is expected to see a strong year-on-year rise in its consolidated net revenue for the June quarter due to higher

contribution from its battery energy storage system during the quarter, according to brokerages tracking the company.

The company's consolidated net profit for the June quarter is expected to rise 17% on year to INR 1.71 billion, according to the average of estimates from seven brokerages. Sequentially, the bottom line is likely to rise 37%. The company's consolidated revenue for the June quarter is seen rising 44% on year to INR 7.40 billion, according to the average of estimates. 

The highest estimate for ACME's bottom line for the June quarter is INR 1.90 billion from JM Financial Institutional Securities Pvt. Ltd. and the lowest is INR 1.58 billion from Nuvama Wealth Management Ltd. The highest estimate for the company's revenue is INR 7.86 billion from Motilal Oswal Financial Services Ltd. and the lowest is INR 6.41 billion from Kotak Securities Ltd.

Most independent power producers from the renewable energy sector are expected to post strong growth for the quarter on the back of capacity additions of both solar panels and battery energy storage systems, brokerages said. Electricity demand for the June quarter is expected to increase 8% on year due to extended summer, Kotak Securities said.

Higher contribution from battery energy storage system of 2.5 gigawatt-hour capacity to aid revenue growth, according to Centrum Broking Ltd. The brokerage expects total operational capacity to largely remain unchanged sequentially at nearly 3 giga watt. ACME Solar is likely to benefit from higher demand for firm and dispatchable renewable power solutions, Centrum added.

"We expect ACME Solar to deliver a strong performance in Q1 FY27 (Apr-Mar)," Elara Securities (India) Pvt. Ltd. said in a preview report. "The company has adopted a phased battery monetisation strategy by commissioning BESS (battery energy storage systems) ahead of the associated firm and dispatchable renewable energy (FDRE) projects and deploying them in the merchant and short-term power markets." The brokerage also expects curtailment risk to remain minimal as majority of the projects are connected to the central transmission network.

The company's consolidated earnings before interest, tax, depreciation, and amortisation for the June quarter is expected at INR 6.34 billion, up 40% on year and up 33% sequentially, according to the average of six estimates. The highest estimate for EBITDA is INR 6.65 billion from JM Financial and the lowest is INR 5.59 billion by Kotak Securities.

The company's EBITDA margin is expected to decline in the range of 180-610 basis points on year for the June quarter to 83.5% and 87.1%, according to three brokerage estimates. Its EBITDA margin is likely to fall due to higher mix of sales from low-margin battery energy storage systems, according to brokerages.

Tuesday, shares of ACME Solar closed at INR 355.50 on the National Stock Exchange, down 2% from Monday. The company had reported a consolidated net profit of INR 1.38 billion for the March quarter on the revenues of INR 5.47 billion. Since then, its shares have surged over 26%. All the six brokerage reports on the company available with Informist have a "buy" recommendation on the stock, with an average target price of INR 362 per share. This is nearly 2% higher than the current market price.

Following are the Apr-Jun earnings estimates for ACME Solar Holdings from seven brokerages in descending order of the estimate of consolidated net profit, in INR billion:

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Pankaj Aher

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