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