ACME Solar Reports 131-Fold Profit Surge, Targets 10 GW Power Generation by 2030
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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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 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-2.61% | +0.99% | +15.03% | +49.90% | +13.23% | +13.23% |