| Metric | Value (₹ Cr) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 467.75 | 8.5% | 80.2% |
| Total Income | 601.37 | 3.0% | 103.8% |
| Expenditure | 449.44 | 14.2% | 62.3% |
| PBT | 156.18 | 10.4% | 760.6% |
| Net Profit | 115.06 | 12.1% | 652.1% |
| OPM | 86.47% | 0.01pp | 184.92pp |
| NPM | 19.13% | 3.27pp | 13.95pp |
| EPS | 1.90 | 12.0% | 555.2% |
ACME Solar Reports EBITDA of INR 534 Cr and PAT of INR 115 Cr for Q2 FY26, Up by 108% and 652% YoY Respectively
03 Nov 2025 · 3 Nov 2025, 09:43 pm
Summary
ACME Solar Holdings Ltd reported its financial results for Q2 FY26. The company's EBITDA and PAT showed significant growth of 108.3% and 652.1% respectively compared to the same period last year. The revenue also increased by 103.8%.
Key Highlights
- 1
Partially commissioned 28 MW out of 100 MW wind project in Gujarat
- 2
Won 720 MW/ 2,460 MWh (Solar + ESS: 670 MW/ 2,240 MWh, FDRE: 50 MW/ 220 MWh’) and 550 MWh standalone BESS capacity
- 3
First PPA signed with private discom - Tata Power Company Limited for 50 MW/ 220 MWh’
- 4
Additional 2 GWh BESS ordered from leading global energy system suppliers taking total BESS ordered to 5.1 GWh
- 5
Revenue increased by 103.8% for the quarter (y-o-y basis)
- 6
EBITDA and PAT up by 108.3% and 652.1% respectively for the quarter (y-o-y basis)
- 7
Improved EBITDA margin of 88.8% in Q2 FY26 as compared to 86.8% in Q2 FY25
- 8
Net debt to EBITDA* of 4.3x as of Q2 FY26
- 9
Standalone financials account for in-house EPC business for the company’s own projects
- 10
Partially commissioned 28 MW out of 100 MW Acme Eco Clean (wind) in Gujarat in Q2 FY26
- 11
The operational portfolio is expected to give a run-rate annual project EBITDA of INR 2,025 - 2,075 Cr
- 12
Debt tied up for INR ~7,050 Cr in respect of 680 MW FDRE projects from SBI and REC
- 13
INR ~1,100 Cr refinancing at an interest rate of 8.40% p.a. for 300 MW operational project
- 14
Interest rate reduced to 8.00% p.a. on INR ~1,245 Cr for a 300 MW operational asset
- 15
Acme Solar rated as AA-/ Stable by CRISIL (upgraded) and ICRA (assigned)
Management Comments
Mr. Manoj Kumar Upadhyay
Chairperson & MD, ACME Solar Holdings Ltd
Our quarterly performance underscores the continued strength of our renewable portfolio and our operational discipline. With higher generation and improved efficiency, we delivered resilient financial performance - achieving more than 100% growth in EBITDA on y-o-y basis. In October 2025, we successfully installed a 10 MWh Battery Energy Storage System (BESS) on a pilot basis in Rajasthan. Looking ahead, phased delivery of the 5.1 GWh BESS order is expected to commence in December, with staged commissioning from Q4 FY26 onwards. Further, our continued focus on timely project execution, operational excellence and disciplined capital allocation - combined with ongoing efforts to optimize financing costs - shall keep on strengthening the balance sheet.”
Informational and educational content only. Not investment advice.