#AcmeSolarIPO - Twitter Hashtag

over 1 year ago

#WaareeEnergies #AcmeSolarIPO #Smallcap100 #SolarEnergy Waaree Energies Ltd MCap INR 1 lac crs | FY 24 PE 80x MCap / CFO 60x | FY 24 EV / EBIDTA : 55x Vs Acme Solar Holdings Ltd MCap 14 k Crs | FY 24 EV / EBIDTA : 12x Vs KPI Green Energy Ltd Mcap: 11k | FY 24 EV / EBIDTA: 33x A) Introduction Energy transition is one of the big investment themes for the next decade and Solar power would take the lion's share of renewable energy generation The above companies operate in three different segments of the solar value chain and hence have different sector dynamics at play. B) Waaree Energies Ltd (Module mfg ) Solar module manufacturere 13GW module capacity + 6 GW of solar ingot and wafer capacity. About 80% of its revenue is from sale of modules (non- recurring) and about 15% of revenue is from EPC project (non-recurring) execution and 5% from operation an mainenenace (recurring ) New Growth Vectors for the Company : 1. Battery Energy Storage Systems ( BESS) 2. Electrolysis Equipments for Generating Green H2 3. Expansion of modules and Ingot capacity The EPC business is undertaken by its subsidiary (74% ownership) Waaree Renewable Technologies. Capacity by FY 27 21 GW of solar modules, 10 GW Ingots & wafers and about 5 GW of BESS. C) ACME Solar Holdings Ltd ( Power Generation ) Pure play Solar power producer Pricing is about Rs 2.5 to 3 per unit which is an all time low. Thermal power for commercial applications is priced over Rs 4 per unit. Hence, dependance on govt incentives is low. Current installed capacity is 1.8 GW, another 1.8 GW to be commisioned in FY 25. Expected Capacity by FY 26 about 6 GW solar + 1 GW FDRE ( Equiv of 3 GW solar) Hence, effective capacity by FY 27 would be 9 GW. Avg realization in the range of Rs 3.0-3.5 per unit D) KPI Green Energy Ltd Solar EPC player catering to B2B predominantly in Gujarat. It is entering other states and therefore witnessing increased working capital requirements. It uses the proceeds from executing solar EPC projects to build its own solar power plants. It sells most of its power in the merchant market and has entered into a few Power Purchase Agreements (PPA's) recently. 85% Revenue from EPC, 15% from Power Generation also known as Independent Power Producer( IPP) IPP is the Annuity Revenue business and hence the co. targets a 50% revenue contribution from IPP by FY 30. E) Comparison Chart F) Conclusion Acme Solar Holdings Ltd is most attractive considering that it is has 100% annuity revenue, margin stability and strong cashflows. KPI Green Energy ltd has a scope for EBIDTA margin expansion as its share of revenue from power generation reaches 50% by 2030. Waaree Energies Ltd is the best company of the three, but it is operating in the toughest segment of the Solar Value Chain. It revenue is non-annuity, has a risk of technology obsolescence & stands at the receiving end of Chinese dumping. If anti dumping duty is imposed by GOI for a reasonable period, Waaree can outperform, else the going could get tough. GOI policies encouraging the use of domestically manufactured solar modules is welcome. However, history stands testimony to the fact that market forces eventually outplay everything. China's leading solar module manufacturer JInko Solar with a capacity to manufacture 130 GW of soalr modules is valued at USD 1.5 billion. Longi Solar with capacity of 500 GW is valued at USD 116 bn. Disclosure: Own Analysis. No Recommendation.

VPSIyer's tweet photo. #WaareeEnergies #AcmeSolarIPO #Smallcap100
#SolarEnergy

Waaree Energies Ltd
MCap INR 1 lac crs | FY 24 PE 80x
MCap / CFO 60x | FY 24 EV / EBIDTA : 55x

Vs

Acme Solar Holdings Ltd
MCap 14 k Crs | FY 24 EV / EBIDTA : 12x

Vs

KPI Green Energy Ltd
Mcap: 11k | FY 24 EV / EBIDTA: 33x

A) Introduction

Energy transition is one of the big investment themes for the next decade and Solar power would take the lion's share of renewable energy generation

The above companies operate in three different segments of the solar value chain and hence have different sector dynamics at play.

B) Waaree Energies Ltd (Module mfg )

Solar module manufacturere 13GW module capacity + 6 GW of solar ingot and wafer capacity.

About 80% of its revenue is from sale of modules (non- recurring) and about 15% of revenue is from EPC project (non-recurring) execution and 5% from operation an mainenenace (recurring )

New Growth Vectors for the Company :

1. Battery Energy Storage Systems ( BESS)
2. Electrolysis Equipments for Generating Green H2
3. Expansion of modules and Ingot capacity

The EPC business is undertaken by its subsidiary (74% ownership) Waaree Renewable Technologies.

Capacity by FY 27

21 GW of solar modules, 10 GW Ingots & wafers and about 5 GW of BESS.

C) ACME Solar Holdings Ltd ( Power Generation )

Pure play Solar power producer

Pricing is about Rs 2.5 to 3 per unit which is an all time low. Thermal power for commercial applications is priced over Rs 4 per unit.

Hence, dependance on govt incentives is low.

Current installed capacity is 1.8 GW, another 1.8 GW to be commisioned in FY 25.

Expected Capacity by FY 26 about 6 GW solar + 1 GW FDRE ( Equiv of 3 GW solar)

Hence, effective capacity by FY 27 would be 9 GW. Avg realization in the range of Rs 3.0-3.5 per unit

D) KPI Green Energy Ltd

Solar EPC player catering to B2B predominantly in Gujarat. It is entering other states and therefore witnessing increased working capital requirements.

It uses the proceeds from executing solar EPC projects to build its own solar power plants. It sells most of its power in the merchant market and has entered into a few Power Purchase Agreements (PPA's) recently.

85% Revenue from EPC, 15% from Power Generation also known as Independent Power Producer( IPP)

IPP is the Annuity Revenue business and hence the co. targets a 50% revenue contribution from IPP by FY 30.

E) Comparison Chart

F) Conclusion

Acme Solar Holdings Ltd is most attractive considering that it is has 100% annuity revenue, margin stability and strong cashflows.

KPI Green Energy ltd has a scope for EBIDTA margin expansion as its share of revenue from power generation reaches 50% by 2030.

Waaree Energies Ltd is the best company of the three, but it is operating in the toughest segment of the Solar Value Chain.

It revenue is non-annuity, has a risk of technology obsolescence & stands at the receiving end of Chinese dumping.

If anti dumping duty is imposed by GOI for a reasonable period, Waaree can outperform, else the going could get tough.

GOI policies encouraging the use of domestically manufactured solar modules is welcome.

However, history stands testimony to the fact that market forces eventually outplay everything.

China's leading solar module manufacturer JInko Solar with a capacity to manufacture 130 GW of soalr modules is valued at USD 1.5 billion.

Longi Solar with capacity of 500 GW is valued at USD 116 bn.

Disclosure: Own Analysis. No Recommendation.

1

12

1

7

3K

Babu Mani

@ChartWizMani

over 1 year ago

If you like my work, feel free to like, share, retweet, and follow! 🙌 #ACMESOLAR #AcmeSolarIPO #PREMIERENE #premierenergy #platind #hblpower #NELCO

2

6

3

1

679

Avi Goyal 𝕏 @AviG27929

over 1 year ago

Exited at 278 dont trade in this market big fall is coming . #AcmeSolar #bearmarket #acmesolaripo #ipo #nifty #sagility

0

1

0

746

thesimilarstocks @SimilarStocks

over 1 year ago

GIFT NIFTY TODAY Gift Nifty was trading around 24,276.5 level, down 72.5 points, indicating a cautious start for the Indian stock market indices. #GIFTNIFTY #Zomato #JSWSteel #Reliance #HDFCBank #Nifty #AdaniGroupStocks #acmesolaripo

0

2

0

428

thesimilarstocks @SimilarStocks

over 1 year ago

TRADE SETUP FOR MONDAY Nifty gaining more than 1000 points in 2 sessions indicates a strong pullback from the lows near 23260 zone. #nifty50 #Zomato #acmesolaripo #JSW #banknifty #Reliance #ZinkaLogistics #tradingstrategy

0

2

0

251

Investment_ Mantra

@Keval_IM

over 1 year ago

Imagine this , if Adani need to pay bribe (if they paid) to get solar project. What about all this small solar stock where everyone is so bullish. #waareeenergy #StockMarket #AdaniGroupStocks #stockmarketsindia #acmesolaripo #NTPCGreenEnergyIPO

1

6

0

829

Shailesh Sankhala @shailesh2745

over 1 year ago

ACME Solar Holdings: કંપનીને SJVN ના સહયોગથી 320 MW રિન્યુએબલ એનર્જી પ્રોજેક્ટના વિકાસ અને નિર્માણ માટે લોન મળી છે. #AcmeSolarIPO #AcmeSolar

3

37

1

0

3K

Atulix Finserv @atulixfinserv

over 1 year ago

2 Mainboard IPOs Listing Update: #SwiggyIPO Listed at ₹ 420 against the offer price of ₹390 at a Premium of 7.69%🔼 Retail 1 Lot Profit: Rs 1,140 HNI Min Application Profit: Rs 15,960 #AcmeSolarIPO Listed at ₹ 251 against the offer price of ₹289 at a Discount of 13.15%🔽

0

2

1

0

274

Konexio Network

@KonexioNetwork

over 1 year ago

Acme Solar Holdings Limited IPO Listing Update. IPO Price - ₹289 Listing Price - ₹251 Listing Gain - (13.14)% Lot Profit - ₹(1,938) #konexionetwork #AcmeSolarIPO #ACMESolarHoldings #IPOGMP #StockMarketIndia #stockmarketcrash #niftycrash #Zomato #NiftyBank #Equity #OptionsTrading

KonexioNetwork's tweet photo. Acme Solar Holdings Limited IPO Listing Update.

IPO Price - ₹289
Listing Price - ₹251
Listing Gain - (13.14)%
Lot Profit - ₹(1,938)

#konexionetwork #AcmeSolarIPO #ACMESolarHoldings #IPOGMP #StockMarketIndia #stockmarketcrash #niftycrash #Zomato #NiftyBank #Equity #OptionsTrading

0

14

2

679

Business Standard

@bsindia

over 1 year ago

#MarketsWithBS | #ACMESolar Holdings had a lackluster debut on the bourses, with shares listing at Rs 259 on #BSE and Rs 251 on #NSE, reflecting declines of 10.3% and 13.14% from the #IPO price of Rs 289. #markets #sharemarket @GuptaSirali #AcmeSolarIPO https://t.co/UmJyMk9TLK

1

0

1K

Zee Business

@ZeeBusiness

over 1 year ago

ACME Solar IPO: रिन्यूएबल एनर्जी कंपनी की मार्केट में सुस्त एंट्री, 10% के डिस्काउंट के साथ हुई लिस्ट #AcmeSolarIPO #StockMarket #Stocks https://t.co/uokCnIWr3r

0

2

0

2K

Kalpana Khandelwal @Kalpana1212

over 1 year ago

Listing Report Card for ACME Solar ❇️ ACME Solar ☀️ IPO ⭐ IPO Price : 289 ⭐ Listing Price 🔸 NSE : 251 (-13.1%)🔻 🔸 BSE :259 (-10.4%)🔻 ⭐ Retail Lot : 51 ⭐ HNI Lot : 714 🔸 Loss As per NSE 🔴 ⭐ Retail Loss : 1938 ⭐ HNI Loss : 27,132 #AcmeSolarIPO #ipolisting

0

1

0

103

ET Now Swadesh

@ETNowSwadesh

over 1 year ago

#NewListing | ACME Solar डिस्काउंट पर लिस्ट - इश्यू प्राइस ₹289/Sh के मुकाबले BSE पर ₹259/Sh और NSE पर ₹251/Sh पर लिस्ट #IPOListing #StockMarket #ACMESolar #ACMESolarIPO

ETNowSwadesh's tweet photo. #NewListing | ACME Solar डिस्काउंट पर लिस्ट

- इश्यू प्राइस ₹289/Sh के मुकाबले BSE पर ₹259/Sh और NSE पर ₹251/Sh पर लिस्ट

#IPOListing #StockMarket #ACMESolar #ACMESolarIPO https://t.co/1oWutD8TiT

0

3

0

601

Stocking The Stocks @stock_stalekr07

over 1 year ago

#Stocks in News 13/11/24- #RepcoHomeFin- Good Results #TataChem- New Sodium bicarbonate plant approved in UK #SwiggyIPO - listing today #AcmeSolarIPO -Listing today #VarunBeverages - Tanjaniya SBC plant acquired #Bosh #Q2Results- Profits Shrinks #Nykaa- Good Results #GIFTNIFTY

stock_stalekr07's tweet photo. #Stocks in News 13/11/24-

#RepcoHomeFin- Good Results
#TataChem- New Sodium bicarbonate plant approved in UK
#SwiggyIPO - listing today
#AcmeSolarIPO -Listing today
#VarunBeverages - Tanjaniya SBC plant acquired
#Bosh #Q2Results- Profits Shrinks
#Nykaa- Good Results
#GIFTNIFTY https://t.co/BpwzMRzRxn

1

4

2

0

879

Investorniti 🏆

@investorniti

over 1 year ago

Swiggy and acme solar to list today. Both have negative gmp now. #listing #swiggy #AcmeSolarIPO #acmesol

1

49

1

0

9K

Shubham Shukla @Shubham161191

over 1 year ago

Acme Solar Holdings won bid for 400 MW plant from NTPC #IPO #AcmeSolarIPO #ACMESolarHoldings

0

2

0

1

1K

Manish Lalwani @manishlalwani9

over 1 year ago

#Sagility lists at 3.5% pop. Will consider it a positive considering open allotment. Hoping for good post listing move and similar action in other 2 IPOs #SwiggyIPO and #AcmeSolarIPO

manishlalwani9's tweet photo. #Sagility lists at 3.5% pop.

Will consider it a positive considering open allotment.

Hoping for good post listing move and similar action in other 2 IPOs #SwiggyIPO and #AcmeSolarIPO https://t.co/MidkbzYPuo

7

82

1

9K

Shailesh Sankhala @shailesh2745

over 1 year ago

ACME Solar IPO allotment today: Allotment out mid night, check below link when allotment out https://t.co/zLeatLm9lF #AcmeSolarIPO #AcmeSolar #IPOAlert

0

3

0

1K