Axis Capital initiates ACME Solar with 'buy' on shift to complex renewable projects

ACME Solar Holdings

15/10/2026 08:24

** Brokerage firm Axis Capital initiates coverage of renewable energy firm ACME Solar Holdings ACMO.NS with "buy" rating and sets TP of 550 rupees
** Axis Capital says ACME is transitioning from a "plain vanilla" solar independent power producer, with 3 GW operational capacity, to a complex renewable-energy project developer
** Says ACME expects to commission first complex project by December 2026
** Brokerage expects full portfolio to be operational by FY30E, assuming a one-year delay due to industry-wide transmission constraints
** Says RE capacity to see 3x growth and 17GWh of BESS addition for these projects and estimates EBITDA to grow at a 38% CAGR over FY26-31E
** ACME shares up 72.6%, YTD


 (Reporting by Payel Das in Bengaluru)
 ((Payel.das@thomsonreuters.com))