ACME Solar (ACMESOLAR) Q3 25/26 earnings summary

Executive summary

• Operational portfolio reached 2,962 MW as of Jan'26, with 72 MW wind commissioned in Q3 FY26 and total portfolio at 7,770 MW, including 16 GWh BESS and 5,630 MW of PPA signed capacity.

• Achieved 53.9% year-over-year revenue growth in Q3 FY26, driven by capacity additions and higher CUF; 1,567 million units generated in Q3, up 49% YoY.

• Board approved unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025; interim dividend of Rs. 0.20 per equity share declared.

• Strategic focus on fast-tracking BESS installations, securing PPAs, and early adoption of perovskite technology and robotic installation.

Financial highlights

• Q3 FY26 revenue at INR 617 crore (up 54% YoY), EBITDA margin at 91.5%, and PAT at INR 114 crore; consolidated Q3 revenue at Rs. 4,967.93 million, net profit at Rs. 1,137.09 million.

• 9M FY26 revenue at INR 1,802 crore (up 74% YoY), EBITDA at INR 1,629 crore (up 77.6% YoY), PAT at INR 360 crore (up 179.3% YoY).

• Cash ROE at 20.6% for December 2025.

• Standalone Q3 EBITDA: Rs. 1,204.64 million; consolidated Q3 EBITDA: Rs. 5,644.97 million.

Outlook and guidance

• FY27 plan: execute 1.5 GW contracted renewable capacity and commission over 10 GWh BESS by CY27; targeting 10 GW generation and 20 GWh BESS by 2030.

• CapEx for FY27 capacity at INR 12,000 crore, and INR 10,000 crore for FY28 (including BESS); battery installations to start from current quarter.

• Labour code changes effective November 2025; financial impact recognized in current quarter.