ACME Solar Reports 131-Fold Profit Surge, Targets 10 GW Power Generation by 2030

2 min read     Updated on 25 Jul 2025, 09:40 PM
scanxBy ScanX News Team
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Overview

ACME Solar Holdings Limited reported a significant increase in quarterly profit, with consolidated net profit rising to ₹131.00 crore from ₹1.00 crore year-over-year. Total revenue increased by 71.8% to ₹584.00 crore, while EBITDA grew 75.7% to ₹531.00 crore. The company's operational capacity expanded to 2,890 MW, with power generation increasing by 107.1%. ACME Solar aims to achieve 10 GW of power generation capacity and 15 GWh of storage by 2030. The company also secured new projects, refinanced debt, and received credit rating upgrades.

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*this image is generated using AI for illustrative purposes only.

ACME Solar Holdings Limited , one of India's leading renewable energy companies, has reported a stellar performance with a significant 131-fold increase in quarterly profit.

Financial Highlights

The company's consolidated net profit skyrocketed to ₹131.00 crore, marking an impressive 13,100% increase from ₹1.00 crore in the same period last year. This substantial growth in profitability was accompanied by a 71.8% year-on-year rise in total revenue, which reached ₹584.00 crore.

ACME Solar's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a significant boost, climbing 75.7% to ₹531.00 crore, with an improved EBITDA margin of 90.9% compared to 88.8% in the previous comparable period.

Operational Performance and Future Targets

The company's strong financial results were underpinned by robust operational performance:

Metric Current Previous Change
Power generation (MUs) 1,636 790 107.1%
Capacity Utilization Factor (CUF) 28.5% 27.0% 1.5%
Operational capacity (MW) 2,890 1,340 115.7%

ACME Solar has set ambitious targets, aiming to achieve 10 GW of power generation capacity and 15 GWh of storage by 2030.

Key Developments

ACME Solar made significant strides in expanding its renewable energy portfolio:

  • Commissioned 350 MW of new projects, including its first 50 MW wind project in Gujarat
  • Secured maiden standalone Battery Energy Storage System (BESS) projects totaling 550 MWh
  • Signed Power Purchase Agreements (PPAs) for 550 MW of new capacity
  • Ordered over 3.1 GWh of BESS from leading global energy system suppliers

Importantly, the company has secured tariff approval for its entire portfolio, further solidifying its position in the market.

Financial Management

The company continued to strengthen its financial position:

  • Refinanced ₹1,072.00 crore of debt, reducing interest costs by approximately 95 basis points
  • Improved Days Sales Outstanding (DSO) to 36 days, down from 42 days in the previous fiscal year
  • Maintained a healthy Net Debt to EBITDA ratio of 4.2x

Credit Rating Upgrade

In a testament to its improving financial profile, ACME Solar received credit rating upgrades:

  • Four recently commissioned 300 MW SECI ISTS projects each received a CRISIL AA-/Stable rating
  • The Acme Aklera 250 MW project was upgraded to ICRA A+/Stable

ACME Solar's impressive results and strategic initiatives demonstrate its strong position in India's rapidly growing renewable energy sector. With a diversified portfolio spanning solar, wind, storage, and hybrid projects, the company is well-positioned to capitalize on the increasing demand for clean energy solutions in the country and achieve its ambitious targets for 2030.

Historical Stock Returns for ACME Solar Holdings

1 Day5 Days1 Month6 Months1 Year5 Years
-2.61%+0.99%+15.03%+49.90%+13.23%+13.23%
ACME Solar Holdings
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CRISIL Assigns 'AA-/Stable' Rating to ACME Solar's Rs 2,086 Crore Bank Facilities for Rajasthan Projects

1 min read     Updated on 25 Jul 2025, 08:33 AM
scanxBy ScanX News Team
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Overview

CRISIL Ratings assigned 'CRISIL AA-/Stable' rating to Rs 2,086 crore long-term bank facilities for two ACME Solar Holdings Limited subsidiaries. The rating covers 600 MW renewable energy projects in Rajasthan. Key strengths include robust revenue visibility, strong financials, solid debt servicing capability, and secure cash flow. Both projects, supported by 25-year PPAs with SECI, are performing above predicted generation levels. This rating is part of ACME Solar's broader success, with all four Fatehgarh, Rajasthan assets securing 'AA' family ratings within six months of operations.

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*this image is generated using AI for illustrative purposes only.

ACME Solar Holdings Limited (ASHL) has received a significant boost to its credit profile as CRISIL Ratings assigned a 'CRISIL AA-/Stable' rating to long-term bank facilities worth Rs 2,086.00 crore for two of its wholly-owned subsidiaries. The rating covers renewable energy projects in Rajasthan with a total capacity of 600 MW.

Project Details and Financing

The rating has been assigned to ACME Deoghar Solar Power Private Limited (ADSPPL) and ACME Phalodi Solar Power Private Limited (APSPPL), both subsidiaries of ACME Solar Holdings Limited. The projects are funded through a term loan facility from Power Finance Corporation Limited.

Key Strengths Highlighted by CRISIL

CRISIL cited several key strengths that contributed to the favorable rating:

  1. Robust revenue visibility
  2. Strong financial metrics
  3. Solid debt servicing capability
  4. Secure cash flow mechanism

Power Purchase Agreements and Performance

Both projects are supported by 25-year Power Purchase Agreements (PPAs) with Solar Energy Corporation of India Limited (SECI). These fixed-tariff agreements ensure long-term cash flow predictability for the projects.

Notably, both projects are performing above predicted generation levels:

  • ADSPPL: Approximately 31.30%
  • APSPPL: Approximately 30.90%

ACME Solar's Growing Portfolio

This rating achievement is part of a broader success for ACME Solar. Within six months of operations, all four of ACME Solar's assets commissioned in Fatehgarh, Rajasthan, have secured 'AA' family ratings from CRISIL. This opens up potential avenues for bonds and refinancing opportunities in the future.

Outlook and Future Prospects

CRISIL has assigned a 'Stable' outlook to these projects, reflecting expectations of:

  • Continued timely payments from SECI
  • Stable operational performance

About ACME Solar Holdings

ACME Solar Holdings has established itself as a leading integrated renewable energy player. The company boasts a diversified portfolio of 6,970 MW and 550 MWh, encompassing solar, wind, storage, FDRE, and hybrid solutions. Currently, ACME Solar's operational capacity stands at 2,890 MW, with an additional 4,080 MW in various stages of implementation.

The company's in-house EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) divisions enable end-to-end development and management of plants. This integrated approach allows ACME Solar to deliver projects in a time and cost-effective manner while ensuring top-tier operating performance, evident in its industry-leading CUF (Capacity Utilization Factor) and operating margins.

This latest credit rating underscores ACME Solar's strong position in the renewable energy sector and its ability to develop and operate high-performing solar projects.

Historical Stock Returns for ACME Solar Holdings

1 Day5 Days1 Month6 Months1 Year5 Years
-2.61%+0.99%+15.03%+49.90%+13.23%+13.23%
ACME Solar Holdings
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