ACME Solar Holdings Limited – Investor Presentation Summary

Key Operational Highlights

  • Highest ever quarterly CUF achieved at 30.9% for Q1 FY27
  • Commissioned ~2.3 GWh BESS during Q1 FY27, taking total commissioned BESS capacity to ~3.62 GWh
  • Phased operationalization of ~3.1 GWh of BESS capacity generated revenue of ₹226 Cr in Q1 FY27
  • BESS Capacity ordered for entire UC PPA signed portfolio
  • Bids won for short term contracts with ₹1,400+ Cr revenue lock-in for partial sale of FY27 BESS capacity

Key drivers of operational performance: Strong BESS commissioning and operationalization, improved plant performance with record CUF

Segment-wise Performance

Performance not broken down by traditional segments but focused on BESS vs RE portfolio performance

Financial Highlights

Revenue: ₹954 Cr (Total Income including Other Income)

EBITDA: ₹831 Cr

PAT: ₹235 Cr

YoY/QoQ comparison: PAT increased 79.9% YoY from ₹131 Cr in Q1 FY26 to ₹235 Cr in Q1 FY27; Increased from ₹138 Cr in Q4 FY26

Drivers of financial performance: Highest ever Revenue and EBITDA achieved for the quarter, strong BESS revenue contribution

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

Not Specified in presentation

Capex & Cash Flow Health

Capital Expenditure: Not specified for quarter but significant ongoing investments in BESS and RE capacity

Free Cash Flow: Not specified

Operating Cash Flow: Not specified

Investment Rationale: Focus on BESS capacity expansion and renewable energy project development

Strategic & R&D Initiatives

Investments in Innovation: BESS technology deployment with ~15 GWh planned installations across PPA signed portfolio

Expected impact on growth: Revised upward guidance to commission cumulative 10+ GWh BESS capacity by FY27

Strategic Rationale: Expanding into energy storage to meet evening peak demand and enhance grid security

Industry Trends & Business Environment

Macro/Industry Trends: MoP extended graded ISTS charge waiver (July 2025–June 2028) for projects delayed due to transmission unreadiness; CERC introduced free-exit option or merchant-route conversion for projects lacking signed PPA; CTUIL initiated grant of BESS connectivity under Right of First Refusal route; CEA mandated grid forming inverters for BESS projects

Impact on Company: Benefit to offtakers to avail ISTS waiver where GNA is delayed; Flexibility to retain LOA-based connectivity where PPAs are yet to be signed; Accelerate commissioning of BESS projects where ROFR-based connectivity is applied; Positive impact on entire power sector from grid stability

Management Commentary & Growth Outlook

Strategic Outlook: Target to commission ~1.5 GW renewable energy capacity comprising FDRE and Hybrid projects and 10+ GWh BESS in FY27

FY Guidance: Revised upward to commission cumulative 10+ GWh BESS capacity by FY27

Risks and Opportunities: Highlighted BESS incident on July 13, 2026 with root cause analysis and implemented corrective measures including AI analytics for early fire detection, additional aerosol-based extinguishing systems, and fire protection barriers

BESS Performance – Q1 FY27

  • Capacity Commissioned – June'26: 3.1 GWh
  • Revenue from Sale of Power: ₹226 Cr
  • Cost of Power: ₹39 Cr
  • EBITDA: ₹189 Cr
  • EBITDA margin: 82%
  • Revenue mix: 85% Short term Contracts, 15% Merchant
  • Technical Performance: Round Trip Efficiency ~89%, Depth of Discharge ~93%, State of Health ~99.9%
  • Capitalized cost: ~₹93 Lakhs/MWh for BESS capacity operationalized during quarter

Upcoming Project Status

FY27 Commissioning Targets: ~1.5 GW renewable energy capacity and 10+ GWh BESS

BESS Connectivity: 11+ GWh applied under ROFR & Grant Received, 10+ GWh approval under process

Detailed project pipeline provided with 1,510 MW capacity across multiple SPVs with expected commissioning from Aug'26 to Feb'27

BESS Commissioning Plan: Total 10,959 MWh planned by FY27 end with phased commissioning across quarters

Portfolio Overview

Operational Portfolio: 2,990 MW across various solar and wind projects in multiple states

Under Construction Portfolio: 3,880 MW + ~15 GWh BESS with PPAs signed

PPA yet to be signed: 1,200 MW + ~5 GWh BESS with LOAs awarded

Regulatory Highlights

ISTS Waiver Protection: MoP extended graded ISTS charge waiver benefit for projects delayed due to transmission unreadiness (with PPAs signed by 30.06.2026)

GNA Connectivity Flexibility: CERC introduced free-exit option or merchant-route conversion for projects lacking signed PPA within 12 months of LoA

Accelerated BESS Deployment: CTUIL initiated grant of BESS connectivity under Right of First Refusal route

Grid Forming Inverters: CEA mandated grid forming inverters for BESS projects