ACME Solar Sees 152 Percent PAT Growth to INR 112 Crore

ACME Solar Holdings Ltd. has reported a strong performance in Q3 FY25, showing growth in both finances and operations.

The company’s total revenue for the quarter was INR 401 crore, a 9.9 percent increase compared to last year and a 35.8 percent rise from the previous quarter. EBITDA grew 15.7 percent to INR 359 crore, with an EBITDA margin of 89.6 percent. PAT increased by 152.1 percent to INR 112 crore, with a PAT margin of 28 percent. Cash PAT rose by 52.5 percent to INR 189 crore.

ACME Solar's total contracted portfolio now amounts to 6,970 MW, with an operating portfolio of 2,540 MW, which has increased by an impressive 89.6 percent quarter-on-quarter (QoQ). Additionally, the company has 4,430 MW of under-construction (UC) capacity, which includes new wins of 1,250 MW secured in Q3 FY25.

A major achievement was the commissioning of a 1,200 MW SECI plant, bringing the total operational capacity to 2,540 MW. ACME Solar has signed PPAs for 2,340 MW, covering over half of its UC capacity, and secured INR 16,500 crore in debt financing for 1,700 MW.

For the first nine months of FY25, the company reported INR 1,203 crore in revenue, INR 407 crore in EBITDA, and INR 198 crore in cash PAT. This growth was driven by its in-house EPC business. ACME Solar’s balance sheet showed a debt-to-equity ratio of 1.6x, with net debt of INR 6,882 crore.

The company generated 2,499 million units of energy in the first nine months of FY25, a 34.5 percent increase from last year. It also achieved high plant and grid availability rates of 99.4 percent and 99.6 percent, respectively.

Chairperson and Managing Director, Manoj Kumar Upadhyay, commented on the strong performance, stating that the commissioning of the 1,200 MW SECI plant in Rajasthan was a significant milestone for ACME Solar. This achievement, one of the largest single-day solar project commissions, demonstrates the company’s capacity for large-scale project execution.

He emphasised that ACME Solar remains focused on driving growth, enhancing operational efficiency, and delivering value to stakeholders as the demand for renewable energy continues to rise, bolstered by government support and industry tailwinds.