ACME Solar Holdings Ltd.ACMESOLAR₹294.34 +8.83%

Shares of ACME Solar Holdings Ltd. surged up to 10%, reaching an intraday high of ₹297.48, following the company’s strong Q1FY26 results and a series of strategic and operational milestones, including its first wind project commissioning and landmark battery storage wins.

EBITDA Up 76%, PAT Surges 9,319%

Acme Solar reported a robust ₹531 crore EBITDA in Q1FY26, up 76% YoY, with EBITDA margins improving to 90.9% from 88.8% last year. 

The company posted a PAT of ₹131 crore, marking a staggering 9,319% YoY increase, driven by higher capacity utilization, margin expansion, and strong execution across new assets.

Revenue grew 71.8% YoY to ₹584 crore, backed by capacity additions and better generation performance. 

Operational Capacity Doubles, Wind and BESS Milestones Achieved

During the quarter, Acme commissioned 350 MW of new capacity, including its first wind power project (50 MW in Gujarat) and multiple SECI-linked solar projects. Its total operational portfolio rose to 2,890 MW, a 115.7% YoY increase. It also secured standalone battery energy storage system (BESS) projects totaling 550 MWh from NHPC.

Acme signed new power purchase agreements (PPAs) covering 550 MW of capacity across FDRE and solar, and 550 MWh of BESS. These developments position the company at the forefront of India’s shift toward grid-flexible, dispatchable renewables.

Efficiency Gains and Credit Strengthen Balance Sheet

Acme achieved a capacity utilization factor (CUF) of 28.5% in Q1FY26, up from 27% last year, with Rajasthan-based projects delivering CUFs above 30%. Grid and plant availability remained above 98.5%. A higher CUF indicates more efficient energy generation from the same installed capacity, translating to improved revenue and profitability per MW. 

On the financing side, the company refinanced ₹1,072 crore in project debt, reducing interest costs by 95 bps. This move adds long-term flexibility and reflects growing lender confidence. Major global suppliers like Trina Energy and Zhejiang Narada were contracted for upcoming BESS orders totaling 3.1+ GWh.

Strong Outlook with Pipeline of 4,000+ MW and Growing Storage Capacity

Acme now has an under-construction portfolio of 4,080 MW and 550 MWh of BESS, with over 55% already tied up in signed PPAs. The company expects its current operational portfolio to deliver annual project EBITDA of ₹2,000–2,050 crore.

Management reaffirmed its focus on diversification and execution discipline, noting that its grid-connected, technology-agnostic, and vertically integrated business model positions it strongly for long-term value creation in the energy transition era.

Note: The stock price mentioned is as of 3:30 PM.

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.