- #164 Manoj Kumar Upadhyay ₹22,700 Cr

About Acme Solar Holdings Limited
Data last updated:
Acme Solar Holdings Limited is a public limited company based in Gurugram, Haryana, India, a subsidiary of Acme Cleantech Solutions Private Limited. It operates in the management consultancy segment of the business services sector. It was incorporated on 03 June 2015 and has been in existence for over 11 years.
Acme Solar Holdings is part of the Nifty 500 and BSE 500 indices. Its director Manoj Kumar Upadhyay is #164 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Haryana, under CIN L40106HR2015PLC102129. Its GSTIN is 06AANCA4988R1ZL (Haryana). The company holds 15 GST registrations, of which 14 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 544283 and NSE: ACMESOLAR.
The company has an authorised share capital of ₹1,000 Cr and a paid-up capital of ₹141.37 Cr. It is led by directors including Manoj Kumar Upadhyay (Managing Director) and Shashi Shekhar (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Plot No. 152 Sector – 44, Gurugram, Haryana, India – 122002.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹2,023.38 Cr, a growth of 44% compared to the previous year. For the same year it recorded a net profit of ₹496.95 Cr (net margin 24.6%) and EBITDA of ₹1,781.34 Cr (EBITDA margin 88%). The net worth stands at ₹5,061.48 Cr (up 12.2% YoY). Total assets are valued at ₹27,193 Cr (up 56.3% YoY).
The company has about 159 employees on its provident fund (EPFO) records.
The company is associated with 2 brands: ACME Group and ACME Solar. As per MCA filings, the company has open charges of ₹59,293 Cr and satisfied charges of ₹28,220 Cr on record. Court records list 44 cases involving the company, including 24 filed by the company and 20 filed against it; 14 cases are pending. The company has 11 deals on record (4 debt financings, 2 acquisitions, 1 market trade), with disclosed funding of ₹6,598.44 Cr; the latest was in June 2026. The company has 16 MSME Form 1 returns on record between 2018 and 2023, listing 774 overdue payments to 160 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website acmesolar.in.
Company details
CIN history
Acme Solar Holdings has 5 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L40106HR2015PLC102129, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L40106HR2015PLC102129 | Current |
| U40106DL2015PTC337832 | Previous |
| U40106HR2015PLC055641 | Previous |
| U40106DL2015PLC337832 | Previous |
| U40106HR2015PTC102129 | Previous |
| U40106HR2015PTC055641 | Previous |
Recognitions & Rankings of Acme Solar Holdings
Contact details
Acme Solar Holdings Limited's registered office is in Gurugram, Haryana.
- Social Media
- Registered AddressPlot No. 152 Sector – 44, Gurugram, Haryana, India – 122002
- IndustryBusiness Services, Management Consultancy
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Acme Solar Holdings operates two associated brands: ACME Group and ACME Solar. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Solar energy projects are developed for sustainable energy solutions. | acme.in | |
| Utility-scale solar power projects are developed, owned, and operated. | acmesolar.in |
Business activity
The main business activity of Acme Solar Holdings is construction. In detail, this covers specialized construction activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| F | Construction | 43 | Specialized construction activities |
To see the full business activity and turnover split of Acme Solar Holdings Limited, buy the company report.
Financials of Acme Solar Holdings Limited
FY 2025-26 filings availableAcme Solar Holdings Limited reported revenue of ₹2,023.38 Cr (up 44% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,023 | 1,405 | 1,319 | 1,295 | 1,488 | 1,692 | 1,777 |
| Revenue growth | +44.0% | +6.5% | +1.9% | -13.0% | -12.1% | -4.8% | - |
| EBITDA | 1,781 | 1,210 | 1,089 | 1,173 | 1,240 | 1,553 | 1,649 |
| EBITDA margin | +88.0% | +86.1% | +82.6% | +90.6% | +83.4% | +91.8% | +92.8% |
| Profit before tax | 677 | 338 | 909 | (15.39) | 102 | (1.10) | (211) |
| Net profit | 497 | 269 | 127 | (37.05) | (214) | (83.22) | 85.63 |
| Net profit margin | +24.6% | +19.1% | +9.6% | -2.9% | -14.4% | -4.9% | +4.8% |
| EPS (₹) | 8.16 | 4.17 | 66.81 | (0.30) | 5.94 | 1.46 | 8.20 |
| Balance sheet | |||||||
| Total assets | 27,193 | 17,401 | 12,307 | 11,646 | 10,194 | 11,950 | 14,893 |
| Net worth | 5,061 | 4,511 | 2,591 | 1,901 | 1,909 | 1,858 | 1,192 |
| Total debt | 19,896 | 10,976 | 8,536 | 9,014 | 7,915 | 9,732 | 10,593 |
| Cash & bank | 6,158 | 2,916 | 1,315 | 1,338 | 763 | 943 | 660 |
| Net working capital | 6,077 | 3,076 | 2,125 | 2,321 | 1,738 | 1,744 | 1,556 |
| Cash flow | |||||||
| Cash from operations | 1,249 | 1,543 | 1,434 | 1,263 | 955 | 1,746 | 922 |
| Cash from investing | (7,317) | (3,976) | (1,888) | (1,410) | (425) | 458 | (1,426) |
| Cash from financing | 7,015 | 3,408 | 216 | 215 | (556) | (2,040) | 474 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 887 | 858 | 548 | 497 | 468 | 511 | 487 | 349 |
| Revenue growth (YoY) | +89.6% | +67.8% | +12.5% | +42.3% | +80.2% | +65.0% | - | - |
| Other income | 120 | 96.27 | 171 | 120 | 138 | 73.01 | 52.37 | 51.81 |
| EBITDA | 753 | 734 | 479 | 444 | 400 | 442 | 422 | 300 |
| EBITDA margin | +84.9% | +85.6% | +87.4% | +89.5% | +85.6% | +86.5% | +86.6% | +86.0% |
| Depreciation | 172 | 155 | 123 | 120 | 117 | 108 | 102 | 69.66 |
| Interest | 345 | 344 | 337 | 288 | 265 | 233 | 206 | 179 |
| Profit before tax | 356 | 331 | 190 | 156 | 156 | 174 | 166 | 103 |
| Tax | 87.35 | 96.14 | 51.66 | 42.58 | 41.12 | 43.57 | 44.19 | (8.69) |
| Net profit | 269 | 235 | 138 | 114 | 115 | 131 | 122 | 112 |
| EPS (₹) | 3.75 | 3.67 | 2.27 | 1.87 | 1.88 | 2.14 | 2.14 | 2.09 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 3,911 | 1,352 | 471 | 469 | 759 | 183 |
| Revenue growth | +189.3% | +187.2% | +0.5% | -38.2% | +313.9% | - |
| EBITDA | 297 | 269 | (55.69) | (27.22) | 38.57 | 44.05 |
| EBITDA margin | +7.6% | +19.9% | -11.8% | -5.8% | +5.1% | +24.0% |
| Profit before tax | 457 | 253 | 518 | (48.50) | 145 | 17.97 |
| Net profit | 328 | 188 | (102) | (69.69) | (108) | (71.65) |
| Net profit margin | +8.4% | +13.9% | -21.6% | -14.9% | -14.2% | -39.1% |
| EPS (₹) | 5.56 | 3.12 | 40.17 | (2.90) | 13.92 | 2.32 |
| Balance sheet | ||||||
| Total assets | 9,221 | 6,833 | 4,406 | 3,959 | 4,069 | 3,964 |
| Net worth | 4,952 | 4,558 | 2,702 | 2,282 | 2,313 | 2,167 |
| Total debt | 4,260 | 2,269 | 1,702 | 1,674 | 1,754 | 1,795 |
| Cash & bank | 2,865 | 1,396 | 265 | 304 | 332 | 108 |
| Net working capital | 1,851 | 1,756 | 117 | (297) | 1,221 | 839 |
| Cash flow | ||||||
| Cash from operations | 530 | 395 | (690) | 716 | 47.34 | (35.05) |
| Cash from investing | (1,505) | (2,976) | 737 | (765) | 415 | 832 |
| Cash from financing | 2,065 | 2,803 | 52.27 | (177) | (281) | (724) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,313 | 2,266 | 2,378 | 918 | 332 | 283 | 269 | 279 |
| Revenue growth (YoY) | +896.6% | +701.8% | +784.8% | +229.2% | -23.6% | -23.5% | - | - |
| Other income | 113 | 91.97 | 162 | 84.30 | 135 | 81.33 | 39.66 | 50.48 |
| Total expenses | 2,994 | 2,096 | 2,070 | 882 | 359 | 303 | 288 | 274 |
| EBITDA | 319 | 170 | 308 | 36.16 | (26.84) | (20.09) | (19.26) | 4.63 |
| EBITDA margin | +9.6% | +7.5% | +13.0% | +3.9% | -8.1% | -7.1% | -7.2% | +1.7% |
| Depreciation | 3.88 | 2.60 | 0.23 | 0.12 | 0.09 | 0.09 | 0.01 | 0.00 |
| Interest | 105 | 96.61 | 99.62 | 75.88 | 67.55 | 60.06 | 36.85 | 47.42 |
| Profit before tax | 323 | 163 | 370 | 44.46 | 40.98 | 1.09 | (16.46) | 7.69 |
| Tax | 81.43 | 41.35 | 93.73 | 12.78 | 9.76 | 0.27 | (5.84) | 6.19 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 887 | 858 | 548 | 497 | 468 | 511 | 487 | 349 |
| Revenue growth (YoY) | +89.6% | +67.8% | +12.5% | +42.3% | +80.2% | +65.0% | - | - |
| Other income | 120 | 96.27 | 171 | 120 | 138 | 73.01 | 52.37 | 51.81 |
| EBITDA | 753 | 734 | 479 | 444 | 400 | 442 | 422 | 300 |
| EBITDA margin | +84.9% | +85.6% | +87.4% | +89.5% | +85.6% | +86.5% | +86.6% | +86.0% |
| Depreciation | 172 | 155 | 123 | 120 | 117 | 108 | 102 | 69.66 |
| Interest | 345 | 344 | 337 | 288 | 265 | 233 | 206 | 179 |
| Profit before tax | 356 | 331 | 190 | 156 | 156 | 174 | 166 | 103 |
| Tax | 87.35 | 96.14 | 51.66 | 42.58 | 41.12 | 43.57 | 44.19 | (8.69) |
| Net profit | 269 | 235 | 138 | 114 | 115 | 131 | 122 | 112 |
| EPS (₹) | 3.75 | 3.67 | 2.27 | 1.87 | 1.88 | 2.14 | 2.14 | 2.09 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,023 | 1,405 | 1,319 | 1,295 | 1,488 | 1,692 | 1,777 |
| Revenue growth | +44.0% | +6.5% | +1.9% | -13.0% | -12.1% | -4.8% | - |
| Other income | 486 | 175 | 896 | 106 | 404 | 218 | 82.03 |
| Total expenses | 242 | 196 | 230 | 122 | 247 | 139 | 129 |
| Employee cost | 0.00 | 64.95 | 59.00 | 34.64 | 38.24 | 30.14 | 6.02 |
| EBITDA | 1,781 | 1,210 | 1,089 | 1,173 | 1,240 | 1,553 | 1,649 |
| EBITDA margin | +88.0% | +86.1% | +82.6% | +90.6% | +83.4% | +91.8% | +92.8% |
| Depreciation | 468 | 287 | 308 | 485 | 546 | 622 | 704 |
| Interest | 1,123 | 759 | 767 | 809 | 996 | 1,151 | 1,237 |
| Profit before tax | 677 | 338 | 909 | (15.39) | 102 | (1.10) | (211) |
| Tax | 179 | 87.22 | 212 | (12.23) | 40.41 | (16.32) | (296) |
| Net profit | 497 | 269 | 127 | (37.05) | (214) | (83.22) | 85.63 |
| Net profit margin | +24.6% | +19.1% | +9.6% | -2.9% | -14.4% | -4.9% | +4.8% |
| EPS (₹) | 8.16 | 4.17 | 66.81 | (0.30) | 5.94 | 1.46 | 8.20 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 121 | 121 | 104 | 104 | 104 | 104 | 104 |
| Reserves & surplus | 4,940 | 4,390 | 1,836 | 1,146 | 1,154 | 1,103 | 1,088 |
| Shareholders' funds (net worth) | 5,061 | 4,511 | 2,591 | 1,901 | 1,909 | 1,858 | 1,192 |
| Minority interest | (1.31) | (1.29) | 0.00 | 29.90 | 100 | 0.00 | 650 |
| Secured loans | 18,296 | 9,971 | 7,909 | 8,307 | 7,009 | 8,475 | 9,257 |
| Unsecured loans | 1,601 | 1,005 | 628 | 707 | 906 | 1,257 | 1,335 |
| Total debt | 19,896 | 10,976 | 8,536 | 9,014 | 7,915 | 9,732 | 10,593 |
| Total liabilities | 27,193 | 17,401 | 12,307 | 11,646 | 10,194 | 11,950 | 14,893 |
| Assets | |||||||
| Gross block | 18,784 | 14,886 | 9,035 | 9,405 | 8,461 | 11,300 | 11,431 |
| Net block | 15,732 | 12,315 | 6,758 | 6,631 | 6,177 | 8,984 | 9,650 |
| Capital work in progress | 4,358 | 1,362 | 2,828 | 2,147 | 1,273 | 97.20 | 220 |
| Investments | 275 | 275 | 150 | 22.67 | 24.53 | 24.53 | 0.00 |
| Inventories | 17.37 | 3.93 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 333 | 381 | 421 | 699 | 827 | 723 | 673 |
| Cash & bank balances | 6,158 | 2,916 | 1,315 | 1,338 | 763 | 943 | 660 |
| Loans & advances | 477 | 481 | 1,270 | 664 | 750 | 618 | 789 |
| Total current assets | 6,986 | 3,782 | 3,005 | 2,702 | 2,340 | 2,283 | 2,122 |
| Total current liabilities | 909 | 706 | 880 | 381 | 602 | 539 | 566 |
| Net working capital | 6,077 | 3,076 | 2,125 | 2,321 | 1,738 | 1,744 | 1,556 |
| Total assets | 27,193 | 17,401 | 12,307 | 11,646 | 10,194 | 11,950 | 14,893 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1,284 | 309 | 547 | 478 | 504 | 340 | 370 |
| Net cash from operating activities | 1,249 | 1,543 | 1,434 | 1,263 | 955 | 1,746 | 922 |
| Net cash from investing activities | (7,317) | (3,976) | (1,888) | (1,410) | (425) | 458 | (1,426) |
| Net cash from financing activities | 7,015 | 3,408 | 216 | 215 | (556) | (2,040) | 474 |
| Net change in cash | 947 | 975 | (238) | 68.99 | (25.37) | 164 | (30.61) |
| Closing cash | 6,158 | 2,916 | 1,315 | 1,338 | 763 | 943 | 660 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +44.0% | +6.5% | +1.9% | -13.0% | -12.1% | -4.8% | - |
| EBITDA growth | +47.3% | +11.1% | -7.1% | -5.5% | -20.1% | -5.8% | - |
| PBT growth | +100.2% | -62.8% | +9998.0% | - | +9998.0% | +99.5% | +9997.0% |
| Net income growth | +84.8% | +112.4% | +441.7% | +82.7% | -156.7% | -197.2% | - |
| Revenue CAGR (3Y) | +16.0% | -1.9% | -8.0% | -10.0% | - | - | - |
| EBITDA CAGR (3Y) | +14.6% | -0.8% | -11.2% | -10.7% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +24.6% | +17.9% | +52.9% | -0.2% | +4.2% | +0.9% | +4.8% |
| Return on capital employed | +8.1% | +7.4% | +7.8% | 0.0% | +6.8% | +7.7% | +7.0% |
| Return on net worth | +10.4% | +7.1% | +5.6% | 0.0% | -9.5% | -4.4% | +5.5% |
| Debt / equity | 3.23 | 2.75 | 3.91 | 4.44 | 4.69 | 6.66 | 8.89 |
| Long-term debt / equity | 2.92 | 2.58 | 3.65 | 4.17 | 4.20 | 5.83 | 7.74 |
| Interest cover | 86.55 | 82.32 | 98.24 | 117.63 | 143.50 | 123.58 | 131.00 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.12 | 0.12 | 0.14 | 0.14 | 0.15 | 0.15 | 0.16 |
| Inventory turnover | 189.99 | 715.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 5.67 | 3.51 | 2.36 | 1.70 | 1.92 | 2.42 | 2.64 |
| EPS (₹) | 8.24 | 4.17 | 66.81 | (0.30) | 5.94 | 1.46 | 8.20 |
| Dividend per share (₹) | 0.00 | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 83.61 | 74.54 | 185.83 | 119.74 | 120.52 | 115.61 | 114.14 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,313 | 2,266 | 2,378 | 918 | 332 | 283 | 269 | 279 |
| Revenue growth (YoY) | +896.6% | +701.8% | +784.8% | +229.2% | -23.6% | -23.5% | - | - |
| Other income | 113 | 91.97 | 162 | 84.30 | 135 | 81.33 | 39.66 | 50.48 |
| Total expenses | 2,994 | 2,096 | 2,070 | 882 | 359 | 303 | 288 | 274 |
| EBITDA | 319 | 170 | 308 | 36.16 | (26.84) | (20.09) | (19.26) | 4.63 |
| EBITDA margin | +9.6% | +7.5% | +13.0% | +3.9% | -8.1% | -7.1% | -7.2% | +1.7% |
| Depreciation | 3.88 | 2.60 | 0.23 | 0.12 | 0.09 | 0.09 | 0.01 | 0.00 |
| Interest | 105 | 96.61 | 99.62 | 75.88 | 67.55 | 60.06 | 36.85 | 47.42 |
| Profit before tax | 323 | 163 | 370 | 44.46 | 40.98 | 1.09 | (16.46) | 7.69 |
| Tax | 81.43 | 41.35 | 93.73 | 12.78 | 9.76 | 0.27 | (5.84) | 6.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 3,911 | 1,352 | 471 | 469 | 759 | 183 |
| Revenue growth | +189.3% | +187.2% | +0.5% | -38.2% | +313.9% | - |
| Other income | 463 | 161 | 753 | 132 | 298 | 145 |
| Total expenses | 3,614 | 1,084 | 527 | 496 | 720 | 139 |
| Employee cost | 0.00 | 136 | 68.22 | 45.69 | 46.30 | 28.25 |
| EBITDA | 297 | 269 | (55.69) | (27.22) | 38.57 | 44.05 |
| EBITDA margin | +7.6% | +19.9% | -11.8% | -5.8% | +5.1% | +24.0% |
| Depreciation | 0.53 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 303 | 176 | 180 | 153 | 192 | 171 |
| Profit before tax | 457 | 253 | 518 | (48.50) | 145 | 17.97 |
| Tax | 117 | 64.41 | 98.61 | (18.25) | (0.05) | (6.31) |
| Net profit | 328 | 188 | (102) | (69.69) | (108) | (71.65) |
| Net profit margin | +8.4% | +13.9% | -21.6% | -14.9% | -14.2% | -39.1% |
| EPS (₹) | 5.56 | 3.12 | 40.17 | (2.90) | 13.92 | 2.32 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 121 | 121 | 104 | 104 | 104 | 104 |
| Reserves & surplus | 4,831 | 4,437 | 1,948 | 1,528 | 1,558 | 1,413 |
| Shareholders' funds (net worth) | 4,952 | 4,558 | 2,702 | 2,282 | 2,313 | 2,167 |
| Secured loans | 650 | 0.00 | 43.41 | 43.41 | 75.00 | 1,143 |
| Unsecured loans | 3,609 | 2,269 | 1,659 | 1,631 | 1,679 | 652 |
| Total debt | 4,260 | 2,269 | 1,702 | 1,674 | 1,754 | 1,795 |
| Total liabilities | 9,221 | 6,833 | 4,406 | 3,959 | 4,069 | 3,964 |
| Assets | ||||||
| Gross block | 6.95 | 1.91 | 1.43 | 0.03 | 0.00 | 0.00 |
| Net block | 6.40 | 1.89 | 1.42 | 0.03 | 0.00 | 0.00 |
| Capital work in progress | 1.25 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 6,995 | 4,973 | 4,265 | 4,162 | 2,810 | 3,106 |
| Inventories | 95.38 | 3.93 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 615 | 4.93 | 0.19 | 14.09 | 66.52 | 13.02 |
| Cash & bank balances | 2,865 | 1,396 | 265 | 304 | 332 | 108 |
| Loans & advances | 1,986 | 2,209 | 1,535 | 659 | 1,399 | 1,114 |
| Total current assets | 5,562 | 3,614 | 1,801 | 977 | 1,797 | 1,236 |
| Total current liabilities | 3,711 | 1,858 | 1,684 | 1,274 | 576 | 396 |
| Net working capital | 1,851 | 1,756 | 117 | (297) | 1,221 | 839 |
| Total assets | 9,221 | 6,833 | 4,406 | 3,959 | 4,069 | 3,964 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 355 | 132 | 31.53 | 257 | 75.25 | 1.99 |
| Net cash from operating activities | 530 | 395 | (690) | 716 | 47.34 | (35.05) |
| Net cash from investing activities | (1,505) | (2,976) | 737 | (765) | 415 | 832 |
| Net cash from financing activities | 2,065 | 2,803 | 52.27 | (177) | (281) | (724) |
| Net change in cash | 1,091 | 223 | 100 | (226) | 182 | 73.26 |
| Closing cash | 2,865 | 1,396 | 265 | 304 | 332 | 108 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +189.3% | +187.2% | +0.5% | -38.2% | +313.9% | - |
| EBITDA growth | +10.7% | +582.2% | -104.6% | -170.6% | -12.4% | - |
| PBT growth | +80.4% | -51.1% | +9998.0% | - | +708.9% | +9997.0% |
| Net income growth | +74.4% | +284.8% | -45.9% | +35.5% | -50.8% | - |
| Revenue CAGR (3Y) | +102.8% | +21.2% | +36.9% | - | - | - |
| EBITDA CAGR (3Y) | - | +91.0% | - | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +8.7% | +14.0% | +89.1% | -6.5% | +19.2% | +13.2% |
| Return on capital employed | +7.8% | +7.6% | +1.9% | +1.6% | +2.1% | +2.2% |
| Return on net worth | +3.6% | +5.2% | -4.1% | -3.0% | -4.8% | -3.9% |
| Debt / equity | 0.69 | 0.55 | 0.68 | 0.75 | 0.79 | 1.32 |
| Long-term debt / equity | 0.60 | 0.52 | 0.54 | 0.48 | 0.47 | 0.75 |
| Interest cover | 102.16 | 65.65 | -322.52 | -563.67 | 496.89 | 388.63 |
| Efficiency & per share | ||||||
| Fixed asset turnover | 882.83 | 809.64 | 644.99 | 31,239.33 | 0.00 | 0.00 |
| Inventory turnover | 78.76 | 688.09 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 12.61 | 528.16 | 65.94 | 11.63 | 19.08 | 24.96 |
| EPS (₹) | 5.62 | 3.12 | 40.17 | (2.90) | 13.92 | 2.32 |
| Dividend per share (₹) | 0.00 | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 81.79 | 75.34 | 196.49 | 156.30 | 159.20 | 145.26 |
To see the full year-wise statements and ratios of Acme Solar Holdings Limited, buy the company report.
Board of directors of Acme Solar Holdings Limited
Acme Solar Holdings has 6 current directors and 24 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shashi Shekhar Also directs: Mku Holdings Private Limited, Acme Cleantech Solutions Private Limited, Pres Regenerative Private Limited and 3 more | Whole-Time Director | 09 Apr 2018 | 8 Years 7 Months | Current |
| Manoj Kumar Upadhyay Also directs: SMSW Lab & Research Centre LLP, Upadhyay Financial Ventures LLP, Mku Holdings Private Limited and 4 more | Managing Director | 03 Dec 2015 | 10 Years 11 Months | Current |
| Atul Sabharwal | Director | 18 Sep 2017 | 9 Years 1 Months | Current |
| Hemant Sahai Also directs: Polyplex Corporation Limited, Sael Solar P4 Private Limited, Sael Solar P5 Private Limited and 5 more | Director | 19 Jan 2025 | 1 Years 9 Months | Current |
| Nikhil Dhingra | Whole-Time Director | 25 Apr 2024 | 2 Years 6 Months | Current |
| Anuranjita Kumar | Director | 25 Apr 2024 | 2 Years 6 Months | Current |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 08 Oct 2026 | 101403764 | Others | ₹1,500 Cr | Open | |
| 25 Sep 2026 | 101394509 | Others | ₹520.67 Cr | Open | |
| 24 Sep 2026 | 101395694 | Others | ₹1,571 Cr | Open | |
| 22 Sep 2026 | 101391608 | Others | ₹2,646.64 Cr | Open | |
| 10 Sep 2026 | 101391627 | Others | ₹3,404.57 Cr | Open |
To see the full charge records of Acme Solar Holdings Limited, buy the company report.
Total charge records: 123 View all charges
Deals & funding
Acme Solar Holdings Limited has 11 deals on record (4 debt financings, 2 acquisitions, 1 market trade), with disclosed funding of ₹6,598.44 Cr; the latest was in June 2026.
Deals on record (5 of 11)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2026 | QIP | ₹2,800 Cr | Investors: Nippon India SmallCap Fund, Hdfc Flexi Cap Fund, Sbi Life Insurance Co. Ltd |
| Apr 2025 | Debt financing | ₹2,491 Cr | |
| Nov 2024 | IPO | ₹2,899.29 Cr | Investors: IPO Shareholders - Acme Solar Holdings Limited, Abu Dhabi Investment Authority, Icici Prudential Life Insurance Company Limited Seller: Acme Cleantech Solutions Private Limited |
| Dec 2021 | Acquisition | Undisclosed | Buyer: Ayana Renewable Power Private Limited Seller: Acme Solar Holdings Limited |
| Jun 2021 | Secondary share transfer | Undisclosed | Buyer: Investment Fund For Developing Countries (Ifu), an individual Seller: Acme Solar Holdings Limited |
To see the full deal history of Acme Solar Holdings Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Acme Solar Holdings Limited has 44 court cases on record: 24 filed by Acme Solar Holdings, 20 filed against it. 14 cases are pending and 30 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 33 | 12 | 11 |
| Supreme Court | 7 | 5 | 2 |
| District courts | 3 | 3 | 1 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 44)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed by the company against Central Electricity Authority and 1 other | Disposed |
| High Court of Rajasthan | Writ petition | Filed by the company against Rajasthan Renewable Energy Corporation Limited and 4 others | Pending |
| High Court of Rajasthan | Interim or miscellaneous application | Filed by the company against Rajasthan Renewable Energy Corporation Limited | Pending |
| Supreme Court | Court case (0411-Indirect Taxes Matters : Classification under the Indian Tariff Act, 1934 & Customs Tariff Act, 1975) | Filed against the company by M/S Jupiter Solar Power Limited Village Katha, Post Office Baddi, Teh. Nalagarh , District: Solan , , Himachal Pradesh | Pending |
| High Court of Karnataka | Appeal | Filed against the company by M/S Rays Power Infra Limited | Disposed |
To see the full case history of Acme Solar Holdings Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Acme Solar Holdings Limited has 16 MSME Form 1 returns on record between 2018 and 2023, listing 774 overdue payments to 160 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 160)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Dhaka Construction Compan | |||
| an individual supplier | |||
| Jasmine Electronics and Electricals | |||
| an individual supplier |
To see the full MSME payment records of Acme Solar Holdings Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Acme Solar Holdings has 15 GST registrations: 14 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AANCA4988R1ZL | Haryana | Active | 01 Jul 2017 |
| 08AANCA4988R1ZH | Rajasthan | Active | 26 Sep 2017 |
| 21AANCA4988R1ZT | Odisha | Active | 28 Sep 2017 |
| 05AANCA4988R1ZN | Uttarakhand | Active | 04 Oct 2017 |
To see the full GST registrations and return filing status of Acme Solar Holdings Limited, buy the company report.
Recent activity
Acme Solar Holdings Limited has 30 board changes on record since 2015: 8 appointments and 22 cessations. The latest: Rajesh Sodhi was appointed as Nodal Officer on 01 Aug 2025.
280 earlier events are in the company report.
News
Frequently asked questions
Acme Solar Holdings is an active public limited company based in Gurugram, Haryana, India. The company works in management consultancy, within the business services industry. It was incorporated on 03 June 2015 (11+ years old) and is registered under CIN L40106HR2015PLC102129. Listed on BSE: 544283 and NSE: ACMESOLAR.
Acme Solar Holdings reported revenue of ₹2,023.38 Cr for FY 2025-26 (up 44% YoY) based on consolidated financials.
Acme Solar Holdings has 6 current directors:
- Manoj Kumar Upadhyay - Managing Director
- Shashi Shekhar - Whole-Time Director
- Nikhil Dhingra - Whole-Time Director
- Atul Sabharwal - Director
- Hemant Sahai - Director
- Anuranjita Kumar - Director
The latest financial statements of Acme Solar Holdings on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 29 September 2025. Year-wise statements from FY 2016 are in the company report.
The GSTIN of Acme Solar Holdings is 06AANCA4988R1ZL, registered in Haryana. The company has 15 GST registrations in all, of which 14 are active and 1 is cancelled or inactive. Other active GSTINs include 08AANCA4988R1ZH (Rajasthan), 21AANCA4988R1ZT (Odisha), 05AANCA4988R1ZN (Uttarakhand).
The CIN (Corporate Identification Number) of Acme Solar Holdings is L40106HR2015PLC102129. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Acme Solar Holdings is a listed company as per MCA records. Its shares are listed on both BSE (code: 544283) and NSE (symbol: ACMESOLAR).
Acme Solar Holdings has 44 court cases on record: 24 filed by the company and 20 filed against it. 14 are pending. Most are in the high courts.
Acme Solar Holdings was incorporated on 03 June 2015, making it 11+ years old. It is registered with the Registrar of Companies, Haryana.
Acme Solar Holdings has 11 deals on record (4 debt financings, 2 acquisitions, 1 market trade), with disclosed funding of ₹6,598.44 Cr; the latest was in June 2026.
Rajesh Sodhi was appointed as Nodal Officer on 01 Aug 2025. Rajat Kumar Singh was appointed as CFO on 20 May 2025. Hemant Sahai ceased to be Additional Director on 20 Feb 2025. Acme Solar Holdings has 30 board changes on record in total.

