ACME Solar (ACMESOLAR) Q4 21/22 earnings summary

Executive summary

• Operated 1,209 MW of solar capacity and had 1,750 MW under development at March 31, 2022; 510 MW AC of operational assets were sold during FY22.

• Consolidated revenue declined to ₹18,922.89 million from ₹19,102.12 million, while profit for the year rose to ₹620.10 million from ₹152.13 million.

Financial highlights

• Consolidated revenue from operations was ₹14,879.02 million versus ₹16,917.45 million; other income increased to ₹4,043.87 million from ₹2,184.67 million.

• Consolidated profit before tax was ₹1,024.26 million versus a loss of ₹11.09 million; total expenses fell to ₹17,898.63 million from ₹19,113.21 million.

• Consolidated profit included ₹3,295.63 million net gain on asset sales, compared with ₹1,134.26 million in FY21.

• Standalone revenue was ₹10,571.99 million versus ₹3,284.54 million; standalone profit was ₹1,454.11 million versus ₹242.79 million, with EPS of ₹13.07 versus ₹2.18.

Outlook and guidance

• 1,750 MW of solar projects were under construction at year-end; a 300 MW AC Rajasthan project was commissioned after year-end.

• A 300 MW AC Rajasthan project PPA with MSEDCL was signed April 4, 2022, after the reporting year.

• COVID-related disruption had no significant impact on operations or project development; plants continued operating and collections from DISCOMs saw no significant delay.