ACME Solar Q1 PAT rises 80% to Rs 235 crore; revenue reaches Rs 954 crore
ACME Solar Holdings Limited reported consolidated total revenue of Rs 954 crore for the quarter ended June 30, 2026, up 63.3% year-on-year, while Profit After Tax (PAT) increased 80% to Rs 235 crore. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose 56.5% to Rs 831 crore during Q1 FY27.
Revenue growth was driven by higher irradiation, improved plant performance, and additions to renewable energy and Battery Energy Storage System (BESS) capacity. The company sold 2,020 million units (MUs) during the quarter, an increase of 23.4% from Q1 FY26, while Capacity Utilization Factor (CUF) improved to 30.9% from 28.5%.
Financials
ACME Solar’s total revenue increased from Rs 584 crore in Q1 FY26 to Rs 954 crore in Q1 FY27, while EBITDA rose from Rs 531 crore to Rs 831 crore. EBITDA margin stood at 87.1%, compared with 90.9% a year earlier, with the Q1 FY27 figure including the cost of power purchased for BESS operations under operating expenses.
PAT increased 79.9% from Rs 131 crore to Rs 235 crore, while PAT margin improved to 24.7% from 22.4%. Cash PAT rose 53.4% to Rs 390 crore from Rs 254 crore in the corresponding quarter of the previous fiscal year.
Operationally, plant availability stood at 99.2% during the quarter, while grid availability was 98.8%.
BESS expansion
ACME Solar commissioned approximately 2.3 GWh of BESS capacity during the quarter, taking its cumulative commissioned capacity to approximately 3.62 GWh. The company has revised its guidance upwards and now expects to commission more than 10 GWh of cumulative BESS capacity by FY27.
BESS capacity has been ordered for the company’s entire under-construction Power Purchase Agreement (PPA)-signed portfolio from suppliers including CATL and Hithium. ACME Solar has also won bids for short-term contracts carrying more than Rs 1,400 crore of revenue lock-in for the partial sale of its FY27 BESS capacity.
Project portfolio
The company signed PPAs for 600 MW during Q1 FY27. ACME Renewtech Sixth signed a PPA for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project with Solar Energy Corporation of India (SECI) at a tariff of Rs 6.28/unit, while ACME Renewtech Fifth signed a PPA with SECI for a 300 MW hybrid project at Rs 3.25/unit.
Following these agreements, ACME Solar’s under-construction PPA-signed portfolio stands at 3,880 MW. Connectivity is available, secured and/or applied for across all under-construction projects, while more than 18,000 acres of land has been acquired for the portfolio.
ACME Solar has tied up more than Rs 6,000 crore of debt for 700 MW of under-construction FDRE projects with REC Limited and Power Finance Corporation (PFC). The weighted average cost of debt for its operational projects stands at 8.4%.
