ACME Solar (ACMESOLAR) Q4 20/21 earnings summary

Executive summary

• FY21 year-end portfolio: 1,669 MWac operational and 1,750 MWac under construction; 500 MWac of operating assets sold during the year.

• Consolidated net profit was Rs 152.13 million versus Rs 856.37 million in FY20; standalone profit was Rs 242.79 million versus Rs 307.44 million.

Financial highlights

• Consolidated revenue was Rs 19,102.12 million versus Rs 18,592.80 million; revenue from operations was Rs 16,917.45 million versus Rs 17,772.49 million.

• Consolidated PBT was a loss of Rs 11.09 million versus a loss of Rs 2,106.77 million; reported net profit was Rs 152.13 million versus Rs 856.37 million.

• Standalone total revenue was Rs 3,284.54 million versus Rs 12,756.99 million; revenue from operations was Rs 1,833.42 million versus Rs 12,111.91 million.

• Standalone PBT was Rs 179.74 million versus Rs 417.68 million; net profit was Rs 242.79 million versus Rs 307.44 million.

• Consolidated other income included a Rs 1,134.26 million net gain on sale of assets; standalone other income included Rs 959.29 million net gain on sale of investments.

Segment performance

• Standalone EPC services generated Rs 1,822.64 million of FY21 revenue versus Rs 12,071.49 million in FY20; O&M services revenue was Rs 10.78 million versus Rs 40.42 million.

• Consolidated electricity sales were Rs 16,912.40 million versus Rs 17,587.93 million; three customers contributed Rs 10,494.31 million of FY21 revenue.

• Operations were reported as a single segment; consolidated activities span power sales, EPC and O&M, with operations limited to India.