ACME Solar Achieves Strong Growth in Q3 FY25 with 152% YoY PAT Surge and Expanded Capacity, Share Price Up 9.99%

ACME Solar has reported a strong performance for Q3 FY25, with notable growth across key financial metrics. Total revenue reached INR 401 Cr, up 9.9% YoY and 35.8% QoQ, while EBITDA increased by 15.7% YoY and 40.1% QoQ, standing at INR 359 Cr with an EBITDA margin of 89.6%. PAT surged by 152.1% YoY and 632.5% QoQ, totaling INR 112 Cr with a PAT margin of 28%.

Financial Performance Highlights (Q3 FY25)

• Total Revenue: INR 401 Cr, up 9.9% YoY and 35.8% QoQ
• EBITDA: INR 359 Cr, up 15.7% YoY and 40.1% QoQ
• EBITDA Margin: 89.6%
• PAT: INR 112 Cr, up 152.1% YoY and 632.5% QoQ
• PAT Margin: 28.0%
• Cash PAT: INR 189 Cr, up 52.5% YoY
• Net Debt to Equity Ratio: 1.6x
• Total Net Debt: INR 6,882 Cr
  • INR 6,069 Cr for operational portfolio
  • INR 813 Cr for under-construction (UC) capacity

Capacity and Portfolio Updates

• Operational Portfolio: 2,540 MW
  • Includes 1,200 MW SECI plant
  • Expected annual EBITDA: INR 1,750 Cr – INR 1,800 Cr
• Under Construction (UC) Capacity: 4,430 MW
  • 1,900 MW of new capacity won in Q3
  • 86% of the portfolio tied to central counterparties
• PPA Signed: 2,340 MW, representing 53% of UC capacity

Financing and Debt

• Debt Tied to UC Capacity: INR 16,500 Cr for 1,700 MW (38%) of UC capacity
• Refinancing for Operational Portfolio:
  • Debt of INR 5,500 Cr at 8.8% average interest rate
  • Cash release: INR 650 Cr
  • Reduction in debt cost: 70 bps
• CARE AA- Rating: Achieved for 450 MW of operational portfolio

Grid Connectivity

• UC Capacity: 100% grid connectivity secured
• Additional Connectivity: ~2,000 MW of applied/secured connectivity

Awards and Recognition

• “Solar Ground Mount Project of the Year – IPP”: 300 MW ACME Heergarh project
• “Largest Single Location Solar Power Plant in Rajasthan”: 1,200 MW SECI plant

Operational Performance (9M FY25)

• Energy Generation: 2,499 million units, up 34.5% from 9M FY24
• Capacity Utilization Factor: 23.7%, up 3.2% from 9M FY24
• Plant Availability: 99.4%
• Grid Availability: 99.6%

ACME Solar Share price up 9.99% , Trading at 191.65 Rupees per share