Financial Highlights (Consolidated)

Quarterly Performance (INR Crore)

  • Total Revenue: ₹954 Cr in Q1 FY27 vs ₹584 Cr in Q1 FY26, up 63.3% YoY (includes other income)
  • EBITDA: ₹831 Cr in Q1 FY27 vs ₹531 Cr in Q1 FY26, up 56.5% YoY
  • EBITDA Margin: 87.1% in Q1 FY27 vs 90.9% in Q1 FY26
  • PAT: ₹235 Cr in Q1 FY27 vs ₹131 Cr in Q1 FY26, up 79.9% YoY
  • PAT Margin: 24.7% in Q1 FY27 vs 22.4% in Q1 FY26
  • Cash PAT (PAT + Depreciation ± Exceptional items): ₹390 Cr in Q1 FY27 vs ₹254 Cr in Q1 FY26, up 53.4% YoY

Financial Performance Drivers

  • Revenue growth driven by higher irradiation, improved plant performance, and RE/BESS capacity addition
  • EBITDA margin decline attributed to inclusion of power purchase costs for BESS operations under operating expenses

Business Highlights

Capacity Commissioned

  • Commissioned ~2.3 GWh of BESS capacity during Q1 FY27
  • Cumulative commissioned BESS capacity now stands at ~3.62 GWh
  • Phased operationalization of ~3.1 GWh BESS capacity generated revenue of ₹226 Cr in Q1 FY27

BESS Updates

  • BESS capacity ordered for entire under-construction PPA signed portfolio from suppliers including CATL and Hithium
  • Revised upward guidance to commission cumulative 10+ GWh BESS capacity by FY27
  • Won bids for short-term contracts with ₹1,400+ Cr revenue lock-in for partial sale of FY27 BESS capacity

PPA Signed

  • Signed 600 MW PPAs during Q1 FY27:
  • ACME Renewtech Sixth: 300 MW FDRE with SECI at tariff of ₹6.28/unit
  • ACME Renewtech Fifth: 300 MW Hybrid with SECI at tariff of ₹3.25/unit
  • Under-construction PPA signed portfolio now stands at 3,880 MW

Financing and Rating Updates

  • Debt tied up of over ₹6,000+ Cr for 700 MW of under-construction FDRE projects with REC and PFC
  • Weighted average cost of debt for operational projects: 8.4%
  • Rating assignments:
  • 300 MW Acme Heergarh project: ICRA AA- rating
  • 150 MW Acme wind projects (Acme Pokhran and Acme Eco Clean): Crisil A+ rating
  • 150 MW Acme Platinum Urja FDRE (under construction): ICRA A- rating

Connectivity and Land Update

  • Connectivity available, secured, and/or applied across all under-construction projects
  • Over 18,000 acres of land acquired for under-construction portfolio

Operational Highlights

  • Energy Sold: 2,020 million units (MUs) in Q1 FY27, up 23.4% from Q1 FY26
  • Capacity Utilization Factor (CUF): 30.9% in Q1 FY27 vs 28.5% in Q1 FY26 (highest ever quarterly CUF)
  • Plant Availability: 99.2% for Q1 FY27
  • Grid Availability: 98.8% for Q1 FY27

Company Background

ACME Solar Holdings Limited is a pure play fully integrated renewable energy company in India with diversified portfolio across solar, wind, storage, hybrid and Firm and Dispatchable Renewable Energy (FDRE) projects. The company is among top 10 renewable energy Independent Power Producers in India with:

  • Operational contracted capacity: 2,990 MW
  • Operational BESS capacity: ~3.62 GWh
  • Under-construction contracted capacity: 5,080 MW

The company generates long-term stable cashflows through electricity sale to various offtakers including central and state government-backed entities via long-term fixed tariff PPAs. The company has in-house EPC and O&M capabilities.