3 Gas Grid and Solar Generation Stocks With a Strong Future Roadmap: Acme Solar Holdings, IRM Energy and Adani Total Gas
- October 12, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Acme Solar Rs 418.10, P/E 49.30. IRM Energy Rs 255.80, P/E 14.46. Adani Total Gas Rs 563.45. Closing prices of 9 Oct 2026.
Quick Answer
Gas grid and solar generation stocks with the clearest long-term roadmaps today include Acme Solar in solar power project portfolio, IRM Energy in city gas distribution network and Adani Total Gas in city gas and CNG network. P/E stands at 49.30 for Acme Solar (industry 23.12) and 14.46 for IRM Energy (industry 14.54). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company’s risks need equal attention.
Gas grid and solar generation stocks give investors exposure to piped gas for homes and vehicles and power from solar plants. Volumes, project commissioning and long-term contracts decide how much of that demand turns into profit.
This list covers three gas grid and solar generation stocks: Acme Solar Holdings for solar power project portfolio, IRM Energy for city gas distribution network and Adani Total Gas for city gas and CNG network. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.
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What Are Gas Grid and Solar Generation Stocks?
Gas grid and solar generation stocks are shares of companies that run city gas networks and generate solar power. Results depend on volumes, project commissioning and contract terms, so capacity additions and contracts separate the stronger names.
Gas Grid and Solar Generation Stocks at a Glance
The table compares size, valuation, return on equity and debt for the three gas grid and solar generation stocks as of the 9 Oct 2026 close.
| Company | CMP (Rs) | Market Cap (Rs Cr) | Industry P/E | ROE | Debt to Equity |
|---|---|---|---|---|---|
| Acme Solar Holdings | 418.10 | 29,692 | 23.12 | 9.86% | 3.93 |
| IRM Energy | 255.80 | 1,057 | 14.54 | 5.33% | 0.07 |
| Adani Total Gas | 563.45 | 61,804 | 14.54 | 13.48% | 0.46 |
Among gas and solar energy stocks, valuations sit close to their industry P/E multiples.
Why Do Gas Grid and Solar Generation Stocks Have a Strong Roadmap in India?
Gas grid and solar generation stocks have a strong roadmap in India because India wants cleaner fuel for homes and vehicles and more renewable power in its energy mix. Three drivers stand out.
- Cleaner fuels: CNG and piped gas replace costlier liquid fuels.
- Renewable targets: Solar capacity additions support long-term power contracts.
- Network build-out: New pipelines and stations extend the customer base.
Acme Solar Holdings: A Renewable Power Portfolio Builds the Next Leg
Acme Solar’s roadmap rests on developing, owning and operating solar and hybrid renewable power projects, with a growing portfolio of operating and under-construction capacity supporting revenue.
FY26 revenue was Rs 2,507.08 crore. FY26 net profit was Rs 497.88 crore. In Q1 FY27, revenue grew 63.3% to Rs 953.77 crore, and net profit rose 79.9% to Rs 235.33 crore.
Debt to equity is 3.93 and return on equity is 9.86%. FY26 operating cash flow was Rs 1,248.59 crore against capital expenditure of Rs 5,321.20 crore. At a P/E of 49.30 against an industry P/E of 23.12, the stock trades above its industry multiple.
What to watch: Debt to equity of 3.93 is on the higher side. The P/E of 49.30 sits above the industry P/E of 23.12, so earnings delivery matters for the valuation.
IRM Energy: City Gas Networks Build the Next Leg
IRM Energy’s roadmap rests on city gas distribution of piped and compressed natural gas, with a growing customer base supporting volumes.
Revenue grew from Rs 510.19 crore in FY22 to Rs 1,092.11 crore in FY26, a 114.1% rise, and FY26 revenue was 8.1% higher than FY25. FY26 net profit rose 13.1% to Rs 53.21 crore. In Q1 FY27, revenue grew 22.6% to Rs 360.03 crore.
Debt to equity is 0.07 and return on equity is 5.33%. The dividend yield is 0.58%. At a P/E of 14.46 against an industry P/E of 14.54, the stock trades in line with its industry multiple.
What to watch: Return on equity of 5.33% is modest, and net profit margin is only 4.9%, so small cost changes move earnings.
Adani Total Gas: Multi-City Gas Licences Build the Next Leg
Adani Total Gas’ roadmap rests on city gas distribution licences across many cities, along with CNG stations, industrial supply and EV charging, with new geographical areas and a wider station network supporting volumes.
Revenue grew from Rs 3,079.31 crore in FY22 to Rs 5,932.28 crore in FY26, a 92.6% rise, and FY26 revenue was 17.9% higher than FY25. FY26 net profit rose 0.2% to Rs 655.72 crore. Over four years, net profit rose from Rs 504.66 crore in FY22 to Rs 655.72 crore. In Q1 FY27, revenue grew 27.4% to Rs 1,919.77 crore. Operating margin was 19.57% in FY26 and 15.35% in Q1 FY27 against 20.39% a year earlier.
Debt to equity is 0.46 and return on equity is 13.48%. FY26 operating cash flow was Rs 1,148.66 crore against capital expenditure of Rs 987.83 crore. Adani Total Gas paid a dividend of Rs 0.25 per share for FY26, a yield of 0.04%.
What to watch: The Q1 FY27 operating margin of 15.35% was below the 20.39% of a year earlier.
Best Gas Grid and Solar Generation Stocks in India: Acme Solar vs IRM Energy vs Adani Total Gas on Key Financials
Among the best gas grid and solar generation stocks in India, Acme Solar leads on Q1 FY27 revenue growth; IRM Energy leads on the lowest debt to equity and dividend yield; Adani Total Gas leads on return on equity. The table puts the numbers side by side.
| Metric | Acme Solar | IRM Energy | Adani Total Gas |
|---|---|---|---|
| FY26 revenue (Rs Cr) | 2,507.08 | 1,092.11 | 5,932.28 |
| FY26 net profit (Rs Cr) | 497.88 | 53.21 | 655.72 |
| Q1 FY27 revenue growth (YoY) | 63.3% | 22.6% | 27.4% |
| Return on equity | 9.86% | 5.33% | 13.48% |
| Debt to equity | 3.93 | 0.07 | 0.46 |
| Dividend yield | 0.00% | 0.58% | 0.04% |
Energy earnings follow volumes, project commissioning and contract terms, so full-year numbers and quarterly trends together give a better view.
How to Evaluate Gas Grid and Solar Generation Stocks to Buy Before You Invest
A short checklist keeps the research consistent when you screen gas grid and solar generation stocks and shortlist gas grid and solar generation stocks to buy.
- Compare each stock’s P/E with its industry P/E, which differs by company here.
- Check project timelines and how much revenue is under long-term contracts.
- Check whether revenue growth is turning into profit growth, not only sales.
- Read operating cash flow against capital expenditure to see how growth is funded.
- Watch debt to equity and interest cover before sizing a position.
- Spread exposure across companies and business lines instead of one demand cycle.
Check the Univest Screener for live data on these gas grid and solar generation stocks
Risks to Consider Before Investing in Gas Grid and Solar Generation Stocks
- Valuation: Acme Solar trades at 49.30 times earnings against an industry multiple of 23.12.
- Debt and cash flow: Acme Solar has debt to equity of 3.93.
- Margins: Adani Total Gas’ Q1 FY27 operating margin of 15.35% was below the 20.39% of a year earlier.
- Gas input costs: Changes in gas prices can affect margins.
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Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.
Comparing a quarter with the same quarter of the previous year gives a cleaner reading than comparing it with the preceding quarter, since seasonal patterns affect many businesses in India.
The shareholding pattern published every quarter shows whether promoters, mutual funds and foreign investors are raising or trimming their holdings, which adds useful context to the financial numbers.
Spreading money across several sectors and company sizes helps keep a portfolio steady, because each business responds differently to interest rates, commodity prices and consumer demand.
Investors who plan to hold for several years often review results twice a year, check whether management delivered on earlier guidance and compare progress with the original reasons for investing.
Reading the notes to accounts and the management discussion section helps separate recurring income from one-time items, which matters when a single quarter looks unusually strong or weak.
Final Take: Which Stock Has the Strongest Roadmap?
These three gas and solar energy stocks cover city gas networks and solar power generation. Acme Solar leads on Q1 FY27 revenue growth; IRM Energy leads on the lowest debt to equity and dividend yield; Adani Total Gas leads on return on equity.
Across gas grid and solar generation stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the gas grid and solar generation stocks to buy discussed here.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Gas Grid and Solar Generation Stocks
Which are the best gas grid and solar generation stocks in India with a strong roadmap?
Ans. Acme Solar Holdings, IRM Energy and Adani Total Gas stand out for their roadmaps in city gas networks and solar power generation. Return on equity ranges from 5.33% to 13.48%.
Is Acme Solar Holdings a good stock to buy now?
Ans. Acme Solar Holdings has a debt to equity ratio of 3.93, a return on equity of 9.86% and a P/E of 49.30 against an industry P/E of 23.12. Valuation, input costs and project timelines move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.
What is the P/E ratio of Acme Solar, IRM Energy and Adani Total Gas?
Ans. The P/E ratio is 49.30 for Acme Solar (industry 23.12) and 14.46 for IRM Energy (industry 14.54). Only Acme Solar trades at or above the industry multiple.
Which of these gas grid and solar generation stocks has the highest return on equity?
Ans. Adani Total Gas has the highest return on equity at 13.48%, followed by Acme Solar Holdings at 9.86% and IRM Energy at 5.33%.
What are the risks of investing in gas grid and solar generation stocks?
Ans. The main risks are valuation, debt and cash flow, margins and gas input costs. Acme Solar trades at 49.30 times earnings against an industry multiple of 23.12.
How did Acme Solar, IRM Energy and Adani Total Gas perform in Q1 FY27?
Ans. Acme Solar Holdings reported revenue of Rs 953.77 crore, up 63.3% year on year, and net profit rose 79.9% to Rs 235.33 crore. IRM Energy reported revenue of Rs 360.03 crore, up 22.6% year on year. Adani Total Gas reported revenue of Rs 1,919.77 crore, up 27.4% year on year.
Do gas grid and solar generation stocks pay dividends?
Ans. IRM Energy and Adani Total Gas pay dividends. The dividend yield is 0.58% for IRM Energy and 0.04% for Adani Total Gas, based on dividends declared for FY26.
How can I invest in gas grid and solar generation stocks in India?
Ans. You can buy gas grid and solar generation stocks through a demat and trading account on NSE or BSE after checking each company’s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.
