{"id":253680,"date":"2026-09-17T15:36:18","date_gmt":"2026-09-17T10:06:18","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=253680"},"modified":"2026-09-17T15:36:18","modified_gmt":"2026-09-17T10:06:18","slug":"solar-ipp-stock-rises-33-percent-in-1-year","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/","title":{"rendered":"This Solar IPP Stock Rises 33% in 1 Year: Batteries, PPAs and a Debt Question"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Acme Solar: CMP Rs 410.55 (17 Sep 2026), 1-year return approximately 33%. 52W range Rs 195.90 to Rs 430.50. Market cap Rs 29,505 Cr. Q1 FY27 PAT Rs 235 Cr, up 80%.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Acme Solar Holdings gained approximately 33% in the year to 17 September 2026, from Rs 307.60 to Rs 410.55. The move was built on commissioned generation rising to about 3,050 MW, a battery storage fleet reaching 4.16 GWh, and a Rs 2,800 crore equity raise that cut net debt to EBITDA to 2.9 times from 4.2 times. A trailing PE near 49 against an industry average close to 24 is what stops this solar IPP stock being an easy call.<\/p>\n<\/div>\n<p>A solar IPP stock has doubled its battery storage fleet and raised Rs 2,800 crore of equity in one financial year, and the share is up approximately 33%. IPP stands for independent power producer, a company that builds and owns power plants and sells the output under long term contracts. The price moved from Rs 307.60 on 17 September 2025 to Rs 410.55 on 17 September 2026, a gain of 33.5%.<\/p>\n<p>The company is <strong><a href='https:\/\/univest.in\/stocks\/acmesolar\/acme-solar-holdings-ltd-share-price-today'>Acme Solar Holdings Ltd<\/a><\/strong> (NSE: ACMESOLAR), a renewable producer that listed in November 2024 and now runs about 3,050 MW of commissioned generation plus 4.16 GWh of grid batteries. The Acme Solar share was among the stronger performers on a screen of NSE small-cap stocks ranked by 1-year return, dated 17 September 2026. What makes this solar IPP stock interesting is the mix behind the number: a capacity ramp, a pivot into storage, and close to Rs 20,000 crore of borrowings.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href='https:\/\/univest.in\/user\/log-in'>Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#How_Has_This_Solar_IPP_Stock_Performed_Across_Time_Frames\" title=\"How Has This Solar IPP Stock Performed Across Time Frames?\">How Has This Solar IPP Stock Performed Across Time Frames?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Why_Did_This_Solar_IPP_Stock_Rise_33_in_One_Year\" title=\"Why Did This Solar IPP Stock Rise 33% in One Year?\">Why Did This Solar IPP Stock Rise 33% in One Year?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Battery_Storage_Went_From_Pilot_to_Profit_Centre\" title=\"Battery Storage Went From Pilot to Profit Centre\">Battery Storage Went From Pilot to Profit Centre<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Q1_FY27_Results_Beat_on_Every_Line\" title=\"Q1 FY27 Results Beat on Every Line\">Q1 FY27 Results Beat on Every Line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#The_PPA_Pipeline_Kept_Filling_Up\" title=\"The PPA Pipeline Kept Filling Up\">The PPA Pipeline Kept Filling Up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Policy_Money_and_a_Sector_Re-Rating\" title=\"Policy Money and a Sector Re-Rating\">Policy Money and a Sector Re-Rating<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Acme_Solar_Share_Price_and_the_Numbers_Behind_It\" title=\"Acme Solar Share Price and the Numbers Behind It\">Acme Solar Share Price and the Numbers Behind It<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Project_Debt_and_Discom_Receivables_at_This_Solar_IPP_Stock\" title=\"Project Debt and Discom Receivables at This Solar IPP Stock\">Project Debt and Discom Receivables at This Solar IPP Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Who_Owns_This_Solar_IPP_Stock\" title=\"Who Owns This Solar IPP Stock?\">Who Owns This Solar IPP Stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Key_Risks_in_This_Solar_IPP_Stock\" title=\"Key Risks in This Solar IPP Stock\">Key Risks in This Solar IPP Stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Acme_Solar_Share_Analyst_View\" title=\"Acme Solar Share: Analyst View\">Acme Solar Share: Analyst View<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Acme_Solar_Share_Price_Target\" title=\"Acme Solar Share Price Target\">Acme Solar Share Price Target<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Other_Stocks_to_Track_From_the_Same_Return_Screen\" title=\"Other Stocks to Track From the Same Return Screen\">Other Stocks to Track From the Same Return Screen<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Which_solar_IPP_stock_rose_33_in_1_year\" title=\"Which solar IPP stock rose 33% in 1 year?\">Which solar IPP stock rose 33% in 1 year?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Why_did_the_Acme_Solar_share_price_rise_in_2026\" title=\"Why did the Acme Solar share price rise in 2026?\">Why did the Acme Solar share price rise in 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#What_were_Acme_Solar_Q1_FY27_results\" title=\"What were Acme Solar Q1 FY27 results?\">What were Acme Solar Q1 FY27 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#What_is_the_Acme_Solar_share_price_target\" title=\"What is the Acme Solar share price target?\">What is the Acme Solar share price target?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#How_much_debt_does_this_solar_IPP_stock_carry\" title=\"How much debt does this solar IPP stock carry?\">How much debt does this solar IPP stock carry?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Does_Acme_Solar_have_a_discom_receivables_problem\" title=\"Does Acme Solar have a discom receivables problem?\">Does Acme Solar have a discom receivables problem?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#Why_did_promoter_holding_in_Acme_Solar_fall_to_714\" title=\"Why did promoter holding in Acme Solar fall to 71.4%?\">Why did promoter holding in Acme Solar fall to 71.4%?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/solar-ipp-stock-rises-33-percent-in-1-year\/#What_is_the_52-week_high_and_low_of_this_solar_IPP_stock\" title=\"What is the 52-week high and low of this solar IPP stock?\">What is the 52-week high and low of this solar IPP stock?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"How_Has_This_Solar_IPP_Stock_Performed_Across_Time_Frames\"><\/span><strong>How Has This Solar IPP Stock Performed Across Time Frames?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The one-year return is approximately 33%, and the shorter windows are far stronger. That is the signature of a solar IPP stock that went nowhere, then re-rated hard. The Acme Solar share price bottomed at Rs 195.90 on 27 January 2026 and has more than doubled since.<\/p>\n<p>Here is how this solar IPP stock has moved, close to close, ending 17 September 2026.<\/p>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>From (Rs)<\/th>\n<th>To (Rs)<\/th>\n<th>Return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1 Month (17 Aug 2026)<\/td>\n<td>364.90<\/td>\n<td>410.55<\/td>\n<td>12.5%<\/td>\n<\/tr>\n<tr>\n<td>6 Months (17 Mar 2026)<\/td>\n<td>247.01<\/td>\n<td>410.55<\/td>\n<td>66.2%<\/td>\n<\/tr>\n<tr>\n<td>1 Year (17 Sep 2025)<\/td>\n<td>307.60<\/td>\n<td>410.55<\/td>\n<td>33.5%<\/td>\n<\/tr>\n<tr>\n<td>Since Listing (13 Nov 2024)<\/td>\n<td>253.15<\/td>\n<td>410.55<\/td>\n<td>62.2%<\/td>\n<\/tr>\n<tr>\n<td>Since IPO Price<\/td>\n<td>289.00<\/td>\n<td>410.55<\/td>\n<td>42.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Three-year and five-year figures do not exist: the company listed on 13 November 2024. The debut was weak, the share closing below its Rs 289 issue price. An IPO buyer who held has made approximately 42% in twenty-two months, a soberer number for this solar IPP stock than the one-year figure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Did_This_Solar_IPP_Stock_Rise_33_in_One_Year\"><\/span><strong>Why Did This Solar IPP Stock Rise 33% in One Year?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Four dated events did the work: battery commissioning that made this solar IPP stock India&#8217;s largest grid battery operator, the Rs 2,800 crore equity raise of June 2026, the Q1 FY27 results of 30 July 2026, and a target upgrade on 15 September 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Battery_Storage_Went_From_Pilot_to_Profit_Centre\"><\/span><strong>Battery Storage Went From Pilot to Profit Centre<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Commissioned storage stood at 3.62 GWh at the end of June 2026, roughly 40% of all such capacity in India, after 2.3 GWh was added that quarter. Storage brought this solar IPP stock Rs 226 crore of revenue in Q1 FY27, at a return management put above 20%.<\/p>\n<p>On 16 September 2026 it added 53.63 MW \/ 300 MWh of storage and 66.68 MW of solar at Kelan, Bikaner, taking operational storage to 4.16 GWh. Management lifted storage guidance above 10 GWh by FY27, three quarters early, and said short-term contracts had locked in over Rs 1,400 crore of FY27 revenue. That reset is the clearest reason this solar IPP stock re-rated.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Q1_FY27_Results_Beat_on_Every_Line\"><\/span><strong>Q1 FY27 Results Beat on Every Line<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On 30 July 2026 the solar IPP stock reported total revenue of Rs 954 crore for the June quarter, up 63.3%, with electricity sales of Rs 858 crore. EBITDA rose 56.5% to Rs 831 crore at an 87.1% margin and net profit 79.9% to Rs 235 crore. Units sold rose 23.4% to 2,020 million and the capacity utilisation factor hit a record 30.9%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_PPA_Pipeline_Kept_Filling_Up\"><\/span><strong>The PPA Pipeline Kept Filling Up<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Contracted capacity is the number that matters most for any solar IPP stock. Of 5,080 MW under construction, 3,880 MW carries a signed power purchase agreement, with about 1,200 MW still at letter of award stage.<\/p>\n<p>In Q1 FY27 it signed 600 MW with Solar Energy Corporation of India: 300 MW of firm dispatchable power at Rs 6.28 per unit and 300 MW of hybrid capacity at Rs 3.25 per unit. A 300 MW \/ 1,200 MWh assured peak power contract came in late May 2026 and a wind-solar hybrid deal on 21 July 2026. The contracted portfolio of this solar IPP stock is approximately 8.37 GW against a 2030 goal of 10 GW and 25 GWh.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Policy_Money_and_a_Sector_Re-Rating\"><\/span><strong>Policy Money and a Sector Re-Rating<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Union Budget for 2026-27 raised the renewable ministry allocation to Rs 32,915 crore from Rs 25,301 crore and the power ministry to Rs 29,997 crore from Rs 21,588 crore. That signal, plus auctions reviving, lifted every solar IPP stock in the group. The Acme Solar share price hit a record Rs 430.50 on 4 September 2026.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href='https:\/\/univest.in\/screeners'>Check the Univest Screener for Live Fundamentals of High-Return Stocks<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Acme_Solar_Share_Price_and_the_Numbers_Behind_It\"><\/span><strong>Acme Solar Share Price and the Numbers Behind It<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Earnings justify part of the move in this solar IPP stock. FY26 revenue was Rs 2,507 crore, up 59.2%, EBITDA Rs 2,265 crore at a 90.3% margin, and net profit nearly doubled to Rs 498 crore. Cash profit was Rs 963 crore and generation rose 61.1% to 6,464 million units.<\/p>\n<p>The quarterly record of this solar IPP stock shows the storage effect landing in June 2026.<\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Total Revenue (Rs Cr)<\/th>\n<th>EBITDA (Rs Cr)<\/th>\n<th>Net Profit (Rs Cr)<\/th>\n<th>Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Jun 2025<\/td>\n<td>583.99<\/td>\n<td>530.82<\/td>\n<td>130.82<\/td>\n<td>27.94%<\/td>\n<\/tr>\n<tr>\n<td>Sep 2025<\/td>\n<td>601.37<\/td>\n<td>533.83<\/td>\n<td>115.07<\/td>\n<td>23.94%<\/td>\n<\/tr>\n<tr>\n<td>Dec 2025<\/td>\n<td>616.81<\/td>\n<td>564.50<\/td>\n<td>113.71<\/td>\n<td>22.90%<\/td>\n<\/tr>\n<tr>\n<td>Mar 2026<\/td>\n<td>704.92<\/td>\n<td>635.89<\/td>\n<td>138.31<\/td>\n<td>24.55%<\/td>\n<\/tr>\n<tr>\n<td>Jun 2026<\/td>\n<td>953.77<\/td>\n<td>830.54<\/td>\n<td>235.33<\/td>\n<td>27.44%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Margins sit near 90% because an operating renewable plant has almost no fuel cost. Depreciation and interest take the rest, so net margin lands near 27%. Quarterly earnings per share was Rs 3.67 against Rs 2.14.<\/p>\n<p>The Acme Solar share price of Rs 410.55 gives a trailing PE near 49 against an industry average close to 24, a price to book of 3.75 and book value of Rs 111.22. Trailing earnings per share is Rs 8.52, return on equity 9.86% and market capitalisation approximately Rs 29,505 crore.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Project_Debt_and_Discom_Receivables_at_This_Solar_IPP_Stock\"><\/span><strong>Project Debt and Discom Receivables at This Solar IPP Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Debt defines every solar IPP stock. Net debt was Rs 12,600 crore against net worth of Rs 8,067 crore in June 2026, with total borrowings near Rs 19,896 crore for FY26 and debt to equity of approximately 3.93.<\/p>\n<p>The direction has improved. Net debt to EBITDA fell to 2.9 times from 4.2 times and the weighted average cost of debt is 8.4%. During FY26 the company refinanced about Rs 3,300 crore across roughly 850 MW of operating projects, cutting that rate by around 150 basis points.<\/p>\n<p>On receivables the picture is better than the sector&#8217;s reputation suggests, which is unusual for a solar IPP stock. Days sales outstanding were 20 days excluding storage and 37 including it in the June 2026 quarter, against debtor days near 60 at March 2026. Most output goes to central intermediaries such as Solar Energy Corporation of India and NTPC, not to weaker state distribution companies, so discom dues have not become a cash problem.<\/p>\n<p>The Bikaner project shows the model: the solar contract sits with NTPC, the storage contract with SJVN. Where state exposure exists, curtailment, meaning the grid telling a plant to stop exporting, cost this solar IPP stock about 1% of revenue in the June quarter.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Who_Owns_This_Solar_IPP_Stock\"><\/span><strong>Who Owns This Solar IPP Stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Promoter holding fell sharply in June 2026, but the promoter did not sell. The Rs 2,800 crore placement issued new shares, cutting the stake from 83.29% to 71.40%. Domestic institutions were the buyers in this solar IPP stock, lifting their holding from 7.05% to 19.10% in a quarter.<\/p>\n<table>\n<thead>\n<tr>\n<th>Quarter<\/th>\n<th>Promoter<\/th>\n<th>FII<\/th>\n<th>DII<\/th>\n<th>Public<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Jun 2025<\/td>\n<td>83.42%<\/td>\n<td>5.76%<\/td>\n<td>6.61%<\/td>\n<td>4.22%<\/td>\n<\/tr>\n<tr>\n<td>Sep 2025<\/td>\n<td>83.42%<\/td>\n<td>5.57%<\/td>\n<td>6.39%<\/td>\n<td>4.62%<\/td>\n<\/tr>\n<tr>\n<td>Dec 2025<\/td>\n<td>83.29%<\/td>\n<td>4.04%<\/td>\n<td>6.87%<\/td>\n<td>5.80%<\/td>\n<\/tr>\n<tr>\n<td>Mar 2026<\/td>\n<td>83.29%<\/td>\n<td>3.60%<\/td>\n<td>7.05%<\/td>\n<td>6.05%<\/td>\n<\/tr>\n<tr>\n<td>Jun 2026<\/td>\n<td>71.40%<\/td>\n<td>4.39%<\/td>\n<td>19.10%<\/td>\n<td>5.11%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Foreign holding slid from 5.76% to 3.60% across four quarters before recovering to 4.39%. No promoter shares were encumbered during FY 2025-26, so the pledge risk that shadows many infrastructure names does not apply to this solar IPP stock.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_in_This_Solar_IPP_Stock\"><\/span><strong>Key Risks in This Solar IPP Stock<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Capital expenditure is the biggest. Management guided to Rs 15,000 crore to Rs 20,000 crore of spending in FY27 against Rs 3,000 crore in the June quarter. Funding that means more project debt, more equity, or both, and any slip hits the Acme Solar share price.<\/p>\n<p>Storage revenue quality is second. Around 85% of battery revenue came from short-term contracts in the June quarter, and that merchant market is young, thin and already drawing large rivals. Storage EBITDA margins run near 82% against 91% for the core fleet, and lithium cell prices could push project costs up 5% to 10%.<\/p>\n<p>Execution is third. The FY27 plan to commission about 1,510 MW depends on substations and transmission lines arriving on time, and delays could push it into FY28. About 1,200 MW of awarded capacity has no signed contract, leaving that slice of the solar IPP stock exposed to merchant pricing. A fire at the ACME Suryodaya facility, blamed on a cabling short circuit, showed operating risk is real.<\/p>\n<p>Fourth is market risk. This small-cap solar IPP stock has a free float under 30%, so the price moves sharply on modest volume. The share ranged from Rs 195.90 to Rs 430.50 in a year, a swing of more than 2.2 times, and a PE near 49 against an industry average close to 24 leaves no room for error. Valuation, not operations, is the likeliest trigger for the next drawdown in this solar IPP stock.<\/p>\n<p style=\"margin-top:24px;\"><strong>Download the <a href=\"https:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the Acme Solar share price live<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Acme_Solar_Share_Analyst_View\"><\/span><strong>Acme Solar Share: Analyst View<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Sentiment on this solar IPP stock turned positive as storage commissioning ran ahead of plan. A foreign brokerage kept a buy rating on 15 September 2026 and raised its core-business multiple to 11.7 times enterprise value to EBITDA. The Acme Solar share rose 3.76% that session to Rs 416.95.<\/p>\n<p>The same note flagged the other side: a capital structure near 80:20 debt to equity, rising equipment and borrowing costs, and commissioning delay risk. That is the debate around this solar IPP stock today.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Acme_Solar_Share_Price_Target\"><\/span><strong>Acme Solar Share Price Target<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The most recent verified Acme Solar share price target is Rs 450, raised from Rs 390 on 15 September 2026, roughly 10% above Rs 410.55. Any Acme Solar share price target is an estimate and this one assumes storage economics hold.<\/p>\n<p>For readers who prefer levels to forecasts, the anchors for this solar IPP stock are the record high of Rs 430.50 from 4 September 2026 and the low of Rs 195.90. The June placement price of Rs 279.50 is where institutions last committed large money.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Stocks_to_Track_From_the_Same_Return_Screen\"><\/span><strong>Other Stocks to Track From the Same Return Screen<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond this solar IPP stock, a screen of NSE small-cap stocks ranked by 1-year return also includes related names such as <a href=\"https:\/\/univest.in\/stocks\/ceigall\/ceigall-india-ltd-share-price-today\">Ceigall India<\/a> with a 1-year return of 40.00%, <a href=\"https:\/\/univest.in\/stocks\/jindalsaw\/jindal-saw-ltd-share-price-today\">Jindal Saw<\/a> at 38.43% and <a href=\"https:\/\/univest.in\/stocks\/wabag\/va-tech-wabag-ltd-share-price-today\">VA Tech Wabag<\/a> at 33.35%.<\/p>\n<p>Among the names covered from that screen, <a href=\"https:\/\/univest.in\/stocks\/mtartech\/mtar-technologies-ltd-share-price-today\">MTAR Technologies<\/a> returned 396.53% over one year. Readers can compare this solar IPP stock with the <a href=\"https:\/\/univest.in\/indices\/nifty-50\/nifty-50-share-price-today\">Nifty 50<\/a> benchmark and track each of these names on Univest before making any decision.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The 33% one-year return understates how much changed inside the business and overstates how comfortable the balance sheet is. Commissioned generation reached roughly 3,050 MW, storage went from pilot to 4.16 GWh, contracted capacity hit 8.37 GW and net debt to EBITDA fell to 2.9 times. Those are real gains for a solar IPP stock.<\/p>\n<p>Against that, the company plans to spend up to Rs 20,000 crore in one year, earns a growing slice of profit from short-term contracts in an untested market, and trades at roughly twice its industry multiple. The Acme Solar share price has already priced in a good outcome. Anyone weighing this solar IPP stock should size the position around the debt and spending cycle, and consult a SEBI-registered adviser.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information and may or may not be accurate. Please verify all data independently before making any investment decision. Past returns do not guarantee future returns. 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).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_solar_IPP_stock_rose_33_in_1_year\"><\/span><strong>Which solar IPP stock rose 33% in 1 year?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Acme Solar Holdings Ltd (NSE: ACMESOLAR) gained approximately 33% in the year to 17 September 2026, from Rs 307.60 to Rs 410.55. The solar IPP stock was among the stronger performers on a screen of NSE small-cap stocks ranked by 1-year return, dated 17 September 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_the_Acme_Solar_share_price_rise_in_2026\"><\/span><strong>Why did the Acme Solar share price rise in 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The rise in this solar IPP stock came from battery storage commissioning running ahead of plan, a 63.3% jump in Q1 FY27 revenue reported on 30 July 2026, and a Rs 2,800 crore equity raise in June 2026 that cut net debt to EBITDA to 2.9 times. A target upgrade on 15 September 2026 added the final push.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_were_Acme_Solar_Q1_FY27_results\"><\/span><strong>What were Acme Solar Q1 FY27 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Total revenue was Rs 954 crore for the June 2026 quarter, up 63.3%, with electricity sales of Rs 858 crore. EBITDA rose 56.5% to Rs 831 crore at an 87.1% margin and net profit 79.9% to Rs 235 crore, with earnings per share of Rs 3.67 for the solar IPP stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Acme_Solar_share_price_target\"><\/span><strong>What is the Acme Solar share price target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The latest verified Acme Solar share price target is Rs 450, raised from Rs 390 by a foreign brokerage on 15 September 2026 with a buy rating, roughly 10% above Rs 410.55. Such targets are estimates, not assurances.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_debt_does_this_solar_IPP_stock_carry\"><\/span><strong>How much debt does this solar IPP stock carry?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Net debt was Rs 12,600 crore against net worth of Rs 8,067 crore at the end of June 2026, with total borrowings of about Rs 19,896 crore for FY26. Net debt to EBITDA improved to 2.9 times from 4.2 times and the cost of debt is 8.4%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Does_Acme_Solar_have_a_discom_receivables_problem\"><\/span><strong>Does Acme Solar have a discom receivables problem?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Not at present. Days sales outstanding for this solar IPP stock were 20 days excluding storage and 37 including it in the June 2026 quarter, because most power is sold to central intermediaries such as Solar Energy Corporation of India and NTPC, not to weaker state distribution companies.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_promoter_holding_in_Acme_Solar_fall_to_714\"><\/span><strong>Why did promoter holding in Acme Solar fall to 71.4%?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The fall from 83.29% to 71.40% in the June 2026 quarter came from dilution, not a promoter sale. A Rs 2,800 crore qualified institutional placement issued fresh shares, and domestic institutions raised their holding from 7.05% to 19.10% in the same quarter.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_52-week_high_and_low_of_this_solar_IPP_stock\"><\/span><strong>What is the 52-week high and low of this solar IPP stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The 52-week high is Rs 430.50, touched on 4 September 2026, and the low is Rs 195.90 from 27 January 2026. A range of more than 2.2 times in one year shows how volatile this small-cap solar IPP stock can be.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which solar IPP stock rose 33% in 1 year?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Acme Solar Holdings Ltd (NSE: ACMESOLAR) gained approximately 33% in the year to 17 September 2026, from Rs 307.60 to Rs 410.55. The solar IPP stock was among the stronger performers on a screen of NSE small-cap stocks ranked by 1-year return, dated 17 September 2026.\"}},{\"@type\":\"Question\",\"name\":\"Why did the Acme Solar share price rise in 2026?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The rise in this solar IPP stock came from battery storage commissioning running ahead of plan, a 63.3% jump in Q1 FY27 revenue reported on 30 July 2026, and a Rs 2,800 crore equity raise in June 2026 that cut net debt to EBITDA to 2.9 times. A target upgrade on 15 September 2026 added the final push.\"}},{\"@type\":\"Question\",\"name\":\"What were Acme Solar Q1 FY27 results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Total revenue was Rs 954 crore for the June 2026 quarter, up 63.3%, with electricity sales of Rs 858 crore. EBITDA rose 56.5% to Rs 831 crore at an 87.1% margin and net profit 79.9% to Rs 235 crore, with earnings per share of Rs 3.67 for the solar IPP stock.\"}},{\"@type\":\"Question\",\"name\":\"What is the Acme Solar share price target?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The latest verified Acme Solar share price target is Rs 450, raised from Rs 390 by a foreign brokerage on 15 September 2026 with a buy rating, roughly 10% above Rs 410.55. Such targets are estimates, not assurances.\"}},{\"@type\":\"Question\",\"name\":\"How much debt does this solar IPP stock carry?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Net debt was Rs 12,600 crore against net worth of Rs 8,067 crore at the end of June 2026, with total borrowings of about Rs 19,896 crore for FY26. Net debt to EBITDA improved to 2.9 times from 4.2 times and the cost of debt is 8.4%.\"}},{\"@type\":\"Question\",\"name\":\"Does Acme Solar have a discom receivables problem?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Not at present. Days sales outstanding for this solar IPP stock were 20 days excluding storage and 37 including it in the June 2026 quarter, because most power is sold to central intermediaries such as Solar Energy Corporation of India and NTPC, not to weaker state distribution companies.\"}},{\"@type\":\"Question\",\"name\":\"Why did promoter holding in Acme Solar fall to 71.4%?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fall from 83.29% to 71.40% in the June 2026 quarter came from dilution, not a promoter sale. A Rs 2,800 crore qualified institutional placement issued fresh shares, and domestic institutions raised their holding from 7.05% to 19.10% in the same quarter.\"}},{\"@type\":\"Question\",\"name\":\"What is the 52-week high and low of this solar IPP stock?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The 52-week high is Rs 430.50, touched on 4 September 2026, and the low is Rs 195.90 from 27 January 2026. A range of more than 2.2 times in one year shows how volatile this small-cap solar IPP stock can be.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>One renewable power producer took its battery storage fleet to 4.16 GWh and raised Rs 2,800 crore of equity, and its share gained approximately 33% in a year. Here is what drove the move and what still worries the market.<\/p>\n","protected":false},"author":29,"featured_media":253671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[5687,5688,5689,5692,5693,5445,5691,5690],"class_list":["post-253680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-acme-solar","tag-acme-solar-share-price","tag-acme-solar-share-price-target","tag-battery-energy-storage-system","tag-capacity-utilisation-factor","tag-high-return-stocks","tag-power-purchase-agreement","tag-solar-ipp-stock"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["253671"],"rank_math_title":["Solar IPP Stock Rises 33% in 1 Year: Capacity, PPAs, Debt"],"rank_math_description":["This solar IPP stock rose approximately 33% in one year to Rs 410.55. See the capacity ramp, battery storage push, PPA pipeline, project debt and the analyst view."],"rank_math_focus_keyword":["solar IPP stock"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/solar-ipp-stock-rises-33-percent-in-1-year.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/253680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=253680"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/253680\/revisions"}],"predecessor-version":[{"id":253682,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/253680\/revisions\/253682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/253671"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=253680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=253680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=253680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}