ACME Solar Holdings Limited has announced a significant enhancement in its credit rating facility from ICRA Limited, with the total rated amount increased from Rs 1,500 crore to Rs 2,500 crore. The company informed stock exchanges about this development under Regulation 30 of SEBI listing regulations on April 01, 2026.

Credit Rating Enhancement Details

ICRA Limited has reaffirmed and enhanced the credit rating for ACME Solar Holdings Limited, maintaining the [ICRA]AA-(Stable) rating across the expanded facilities. The rating enhancement reflects the credit rating agency's continued confidence in the company's financial strength and creditworthiness.

Rating Structure and Implications

The enhanced rating structure includes two key components. The existing long-term non-fund based facility has been increased from Rs 1,500 crore to Rs 1,850 crore, representing an enhancement of Rs 350 crore. Additionally, ICRA Limited has assigned a new unallocated facility of Rs 650 crore, also carrying the [ICRA]AA-(Stable) rating.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing both BSE Limited and National Stock Exchange of India about this credit rating update. This communication follows an earlier intimation dated January 02, 2026, indicating ongoing engagement with rating agencies for facility enhancements. The detailed rating rationale from ICRA Limited is available through their official platform for stakeholder reference.

The [ICRA]AA-(Stable) rating indicates high credit quality with adequate degree of safety regarding timely servicing of financial obligations, with the stable outlook suggesting consistent creditworthiness expectations in the near term.

Acme Solar Holdings Limited has received a significant show cause cum demand notice from GST authorities, alleging short payment of taxes worth approximately Rs 149.73 crores. The renewable energy company disclosed this development to stock exchanges on March 29, 2026, in compliance with regulatory requirements.

GST Demand Notice Details

The show cause cum demand notice was issued by the Office of the Directorate General of Goods & Services Tax Intelligence, Jaipur Zonal Unit, Rajasthan, dated March 23, 2026, and received by the company on March 28, 2026. The notice has been issued under the CGST Act, 2017 and RGST Act, 2017.

Nature of Allegations

The GST Intelligence has alleged short payment of GST on supply of goods and services related to solar power generating systems. The demand covers a four-year period from April 2021 to March 2025, with the total GST demand aggregating to approximately Rs 149.73 crores, along with applicable interest and penalty.

Industry-Wide Issue

According to the company's disclosure, based on publicly available information, the GST department has issued similar notices to several other renewable energy companies. Such demands are currently being contested before various judicial forums across the country, indicating this may be part of a broader scrutiny of the renewable energy sector's GST compliance.

Company's Response Strategy

Acme Solar Holdings is taking a measured approach to address the notice:

• Reviewing the show cause notice with tax and legal advisors
• Planning to contest the matter before appropriate forums as advised
• Expects no immediate financial or operational impact from the notice

The company has emphasized that it does not anticipate any immediate financial or operational disruption due to this GST demand notice, suggesting confidence in its position and the contestability of the allegations.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015. The company provided detailed information as required under the SEBI Master Circular, ensuring full transparency with stakeholders regarding this material development.