ACME Solar Holdings Limited , a prominent player in the renewable energy sector, has announced significant changes to its senior management team, marking a strategic shift in its leadership structure.

New Appointments Bolster Key Departments

The company has made three key appointments, all effective from August 18, 2025:

1. Sarthak Sengupta joins as Vice President-Procurement
2. Pankaj Bhandula takes on the role of Executive Vice President-Land
3. Harjinder Kamboj steps in as Vice President-Quality

These appointments, approved by the Board of Directors based on recommendations from the Nomination and Remuneration Committee, aim to strengthen ACME Solar's core operations.

Experienced Professionals at the Helm

The new executives bring a wealth of experience to their roles:

• Sarthak Sengupta, with nearly 20 years in strategic sourcing and procurement, recently led major equipment orders for ACME Solar. His expertise spans market intelligence, procurement audit, and compliance. Sengupta's background includes stints at Amplus Solar, TTL Ltd., and Blue Star Ltd.

• Pankaj Bhandula brings over 30 years of experience in strategic planning and land acquisition. A Chartered Accountant and ICWA (Int.), Bhandula has played a crucial role in evaluating and acquiring land for ACME's diverse project portfolio across multiple states.

• Harjinder Kamboj, armed with over 30 years in quality management, brings expertise in project quality management, supply quality, and vendor development. His prior associations include Adani Green Energy Ltd. and Azure Power India Pvt. Ltd.

All three new appointees will report directly to the Chief Executive Officer.

High-Level Departures

Simultaneously, ACME Solar announced the resignation of two senior executives:

1. Manish Jha, Chief Operating Officer, Renewable Business (effective August 8, 2025)
2. Dinesh Chadha, President, Renewable Energy (effective August 14, 2025)

Both executives have cited personal reasons for their departures.

Looking Ahead

These management changes come at a crucial time for ACME Solar, as the company continues to expand its renewable energy portfolio. The new appointments are expected to drive efficiency in procurement, land acquisition, and quality management – all critical aspects of the company's ongoing and future projects.

ACME Solar's ability to attract high-caliber talent underscores its position in the competitive renewable energy market. As the company navigates these leadership transitions, stakeholders will be keenly watching how these changes impact its operational efficiency and strategic direction in the evolving energy landscape.

The company has also announced an upcoming interaction with investors and analysts at the Emkay Confluence event on August 13, 2025, in Mumbai, potentially providing more insights into these recent developments and future strategies.

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.