ACME Solar Holdings Limited , a leading renewable energy company, reported strong financial results for the first quarter of fiscal year 2026, with significant growth in revenue and operational capacity.

Financial Highlights

• Total revenue for Q1 FY26 stood at INR 584.00 crores, marking a 72% year-on-year increase.
• EBITDA rose by 76% to INR 531.00 crores, with an impressive margin of 91%.
• Profit After Tax (PAT) showed a sharp jump to INR 131.00 crores.

Operational Achievements

• Commissioned 350 MW of new projects, including the company's first 50 MW wind project.
• Operational portfolio of independent power producers now stands at 2,890 MW.
• Generated 163 crore units of electricity, up 107% year-on-year.
• Capacity utilization factor improved to 28.5% from 27% last year.

Strategic Developments

• Secured first standalone battery energy storage project of 550 MWh with NHPC.
• Signed Power Purchase Agreements (PPAs) for 550 MW of FDRE and solar projects.
• Placed purchase orders exceeding INR 7,000.00 crores for under-construction portfolio.
• Secured 3.1 GWh of battery energy storage system orders.

Financial Position

• Net operational debt to EBITDA stands at 4.2x, within the guided range of 5.5x.
• Four SECI assets totaling 1,200 MW received CRISIL AA- stable rating.
• Days of sales outstanding dropped to 36 days in Q1.

Future Outlook

• Management expects to commission battery components of FDRE projects this year.
• Targets INR 12,000.00-14,000.00 crores capex for the current financial year.
• Focus on early commissioning of battery projects to capitalize on merchant market opportunities.

ACME Solar continues to prioritize disciplined growth, technology-driven execution, and financial agility as it expands its portfolio. The company's strong performance in Q1 FY26 sets a positive tone for the rest of the fiscal year, with significant progress in both operational and strategic fronts.

Innovation and Technology

Chairman and Managing Director Manoj Kumar Upadhyay highlighted the company's commitment to innovation:

• Completed five years of continuous testing of FDRE (battery, solar, and grid integration).
• Achieved battery degradation results within expected limits.
• Tested power electronics reliability under challenging grid conditions.
• Plans to reduce land requirements by 15-20% for future projects through new configurations.
• Advancing perovskite solar cell testing to improve efficiency in low light conditions.

As ACME Solar continues to expand its renewable energy portfolio and battery storage capabilities, the company remains well-positioned to capitalize on the growing demand for clean energy solutions in India.

ACME Solar Holdings , a leading renewable energy company, saw its shares rally nearly 7% over three trading sessions following the announcement of its stellar financial performance for the first quarter of the fiscal year.

Impressive Financial Results

The company reported a staggering 9,319% year-on-year increase in consolidated net profit, reaching Rs 131.00 crore for the June quarter. This marks a significant leap from the Rs 1.40 crore profit recorded in the same period last year. The remarkable growth in profitability was accompanied by a robust 71.80% year-on-year increase in revenue.

Operational Highlights

ACME Solar's strong performance can be attributed to several factors:

1. Capacity Additions: The company successfully commissioned 350 MW of new projects, including its first wind project.
2. Improved Efficiency: Capacity utilization factor rose from 27.00% to 28.50%, contributing to enhanced productivity.
3. Total Operational Capacity: With the new additions, ACME Solar's total operational capacity now stands at an impressive 2,890 MW.

Financial Metrics

• EBITDA: Increased by 76.00% to Rs 531.00 crore
• EBITDA Margin: Expanded to 90.90%
• Net Debt to EBITDA: Currently at 4.20x, well within the company's targeted range of 5.50x

Strategic Developments

ACME Solar has made significant strides in expanding its project portfolio and optimizing its financial structure:

1. New Project Win: Secured a 550 MWh battery energy storage project in collaboration with NHPC.
2. Power Purchase Agreements: Signed agreements for 250 MW of renewable energy capacity.
3. Debt Refinancing: Successfully refinanced Rs 1,072.00 crore of debt, resulting in a 95 basis points reduction in interest costs.
4. Credit Rating Upgrades: Received upgrades on multiple projects, reflecting improved financial health.

Financial Performance Table

ACME Solar's remarkable financial performance and strategic initiatives have clearly resonated with investors, as reflected in the recent share price rally. The company's focus on expanding its renewable energy portfolio, improving operational efficiency, and strengthening its financial position appears to be paying off, setting a solid foundation for future growth in the dynamic renewable energy sector.