Shares of ACME Solar Holdings rose as much as 5% to ₹432 on the NSE on Thursday after the company reported that its profit more than doubled in the July–September quarter, The Economic Times reported.
Profit after tax rose 133.5% to ₹269 crore in the second quarter of 2026-27, from ₹115 crore a year earlier. Revenue rose 67.5% to ₹1,007 crore, from ₹601 crore, mainly because of new battery storage and renewable capacity.
The NTPC deal
On the same day, ACME Marigold Urja, a wholly owned subsidiary, signed a power purchase agreement with NTPC for a 400 MW firm and dispatchable renewable energy (FDRE) project under NTPC's first FDRE tranche. Supply is due to start on June 30, 2028, and the contract runs for 25 years, at a tariff of ₹4.37 a unit.
The quarter in numbers
- Power generation rose 19.6% to 1,840 million units, helped by new capacity and more sunshine.
- About 324 million units were sold through short-term peak-power sales from battery storage.
- Capacity utilisation rose to 27.8% from 24.1%.
- The company has commissioned 5.2 GWh of battery energy storage (BESS) in total, which it says is India's second-largest.
Why it matters
ACME Solar has raised its target for battery storage commissioned in 2026-27 to more than 12 GWh, from 10 GWh, and raised its 2030 renewable capacity goal. Firm and dispatchable power, which pairs solar with batteries so supply does not stop at sunset, is what buyers like NTPC increasingly want, and storage is where the company's revenue growth is coming from.
The stock has risen about 79% so far in 2026, though it is down 2.75% over the past month.
This article reports company results and is not investment advice.