ACME Solar Holdings Moat Analysis: Score & Risks
ACME Solar Holdings Ltd.
A first-pass moat teardown of ACME Solar Holdings Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow read — primary edge in Cost Advantage. Provisional, single-pass evidence.
ACME Solar Holdings Ltd. scores 5.16 on MoatSCORE 6.0 — a narrow moat in Power. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“Operating profit margin improved on account of favourable operating leverage and optimised operational efficiency.”
“Secured connectivity for the entire under construction portfolio as well”
“We have a very selective focus on working with the 25-year PPA, which gives us a lot of visibility on the cash flows”
“So, 1 gigawatt hour of battery results in around 170 crores of EBITDA if operated for 12 months and this is assuming a Rs. 5 arbitrage between buy and sell price.”
“we have applied for the patent on the 2-3 areas”
“That 2.52 with SJVN, that is under consideration, because that is under consideration with some states which need that because it is the most competitive tariff in terms of the solar. Now, the decision is how they use that solar is up to states”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 6 — at or above 6, consistent with a narrow read. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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