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ACME Solar (ACMESOLAR) investor relations material
ACME Solar Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Renewable energy sector in India added 35 GW Jan–Oct 2025, reaching 247 GW and 27% of national generation; regulatory reforms include GST reduction and new RE obligations targeting 43% by 2030.
Q2 FY26 revenue rose 103.8% year-over-year to INR 601 Cr, EBITDA up 180% to INR 534 Cr, and PAT at INR 115 Cr, driven by capacity additions and higher CUF.
Portfolio expanded to 7,390 MW (including 13.5 GWh BESS), with 378 MW commissioned YTD and 720 MW new project wins; operational portfolio at 2,918 MW.
Signed PPAs with Tata Power and NHPC for BESS projects; credit rating upgraded to AA- by CRISIL and ICRA.
Board approved unaudited Q2 and H1 FY26 results, with unmodified auditor conclusions.
Financial highlights
Q2 FY26 consolidated revenue was ₹4,677.48 million, up from ₹2,595.92 million in Q2 FY25; H1 FY26 revenue was ₹9,787.32 million, up from ₹5,692.32 million in H1 FY25.
EBITDA margin improved to 89% in Q2 FY26; PAT margin at 19%.
Cash PAT for Q2 FY26 was INR 228 Cr, up 203.6% year-over-year; H1 FY26 Cash PAT was INR 482 Cr, up 265.2%.
Days sales outstanding dropped to 27 days, improving cash flow.
Other income increased due to hedging gains on battery procurement; other expenses rose due to ESOPs.
Outlook and guidance
Targeting 10 GW generation and 15 GWh BESS by 2030; early 2026 to see 1 GWh BESS operational, expected to add INR 170 Cr annual EBITDA.
CapEx plan of INR 12,000 Cr for FY2026, with 75–80% debt and 20–25% equity funding; most debt already sanctioned.
Equity for future CapEx to be supported by internal accruals, refinancing, and cash on balance sheet.
Management and auditors confirm compliance with Indian Accounting Standards and SEBI regulations.
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