ACME Solar Reports 71.8 Percent Increase in Revenue to INR 584 Cr in Q1 FY26, PAT Surges to INR 131 Cr
ACME Solar Holdings reported a 71.8 percent year-on-year rise in Q1 FY26 revenue to INR 584 crore, driven by capacity addition and higher CUF. The company’s profit after tax (PAT) surged by a massive 9,319 percent to INR 131 crore in the quarter.
July 26, 2025. By Mrinmoy Dey
During the quarter, ACME commissioned 350 MW of renewable projects, including its maiden 50 MW wind project in Gujarat and the 300 MW Acme Sikar solar project, raising its total operational capacity to 2,890 MW. This marks a 115.7 percent increase in capacity compared to Q1 FY25.
The company also won its first standalone battery energy storage system (BESS) projects, totalling 550 MWh, contracted with NHPC, won at a weighted average tariff of INR 2.20 lakhs/MW/month. The company also signed power purchase agreements for 250 MW of firm and dispatchable renewable energy (FDRE) and 300 MW solar capacity along with the 550 MWh of standalone BESS. These moves significantly strengthen ACME’s foothold in hybrid and energy storage solutions.
Manoj Kumar Upadhyay, Chairperson and MD, ACME Solar Holdings Ltd., said, “The commissioning of 350 MW, including our first wind project, underscores our commitment to diversifying our clean energy portfolio. Securing our maiden standalone battery storage projects is a landmark moment - positioning us at the forefront of the energy transition as we scale solutions that enhance grid reliability and flexibility.”
Operational performance also saw a major uptick, with the company generating 1,636 million units of electricity in Q1 FY26, up 107.1 percent from the previous year. The company’s overall CUF rose to 28.5 percent, with Rajasthan-based projects achieving an average CUF of 30.3 percent. Additionally, the availability metrics remained robust with plant availability at 99.4 percent and grid availability at 98.7 percent.
On the financial front, ACME refinanced INR 1,072 crore of debt at an interest rate of approximately 8.5 percent per annum fixed for five years, resulting in a 95-basis-point reduction in project-level interest costs. Notably, four of its 300 MW SECI ISTS solar projects were recently commissioned and received CRISIL AA-/Stable ratings, while its Acme Aklera 250 MW project saw an upgrade to ICRA A+/Stable. The net debt to EBITDA ratio stood at 4.2x, well within the company's target range.
“Our continued focus on execution excellence and disciplined financial management is clearly reflected in our margin expansion, significant improvement in cash PAT, and reduced debt cost. The adoption of tariffs for majority of our under-construction portfolio and signing of key PPAs reflect the strong demand for the renewable energy solutions,” remarked Upadhyay.
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