ACME Solar Revenue Jumps 67.5% to 1,007 Crore Rupees in Second Quarter
Key Facts
ACME Solar reported a 67.5% year-on-year increase in total revenue in the second quarter of fiscal 2027 to 1,007 crore rupees, compared with 601 crore rupees in the corresponding period of the previous fiscal year. The company said in its statement that additions to renewable energy and battery storage capacity were the main drivers of revenue growth. Earnings before interest, taxes, depreciation and amortization rose 63.6% to 874 crore rupees, from 534 crore rupees a year earlier. Cash generated from earnings was 441 crore rupees, up 93.2% from 228 crore rupees in the second quarter of fiscal 2026. The available data did not include a verified move in the company's shares following the results announcement.
Margins moved in different directions during the quarter. The EBITDA margin declined to 86.7% from 88.8% a year earlier, while the net profit margin rose to 26.7% from 19.1%. EBITDA was 874 crore rupees, compared with 534 crore rupees in the year-earlier quarter, as revenue increased to 1,007 crore rupees from 601 crore rupees. The company said additions to storage and renewable energy capacity supported the quarterly revenue increase. The company defines cash generated from earnings as net profit plus depreciation, adjusted for exceptional items; this measure rose to 441 crore rupees from 228 crore rupees.
Operationally, the company generated 1,840 million units of electricity in the quarter, up 19.6% from the same period of fiscal 2026. It also sold 324 million units by operating short-term battery storage systems during periods of peak demand. The capacity utilization factor rose to 27.8% from 24.1% a year earlier, while plant availability was 99.3% and grid availability was 99.2%. The figures show growth in generation alongside improved utilization of available capacity. The company said additions to renewable energy and storage capacity contributed to revenue growth during the quarter.
ACME Solar expanded its operational battery storage capacity by about 2.1 gigawatt-hours during the quarter through the statement date, bringing the total to about 5.2 gigawatt-hours. The company said this makes it the owner of India's second-largest operational battery storage capacity. On contracts, it signed power purchase agreements for 430 megawatts of firm and dispatchable renewable energy projects, raising total capacity under signed agreements to 4,310 megawatts. This capacity requires about 17 gigawatt-hours of battery storage installations. Signed power purchase agreements represent 87% of the company's 7.3-gigawatt portfolio, according to its statement.
The company raised its target for cumulative operational battery storage capacity for fiscal 2027 to more than 12 gigawatt-hours, from 10 gigawatt-hours previously. It said it had secured revenue of more than 1,600 crore rupees from partial sales of storage capacity allocated to fiscal 2027, and more than 1,500 crore rupees for fiscal 2028 through the statement date. It also raised its renewable power generation capacity target for 2030 to 15 gigawatts, from 10 gigawatts. The company said the expansion would draw on firm renewable energy projects, assured peak-time power, contracts for differences, green hydrogen projects and data centers. These targets link increased generation capacity with expanded storage solutions and contracted uses of power.
The company said CRISIL upgraded its rating to AA-/Positive from AA-/Stable. It also arranged about 9,100 crore rupees in debt financing from JPMorgan Chase Bank, IIFCL, REC, PFC and IREDA, according to the statement issued on 28 October 2026. The average cost of debt for fully operational projects was 8.4%. These financing indicators accompany growth in contracted capacity and the associated battery storage installation requirements. The company set a fiscal 2027 target of more than 12 gigawatt-hours of cumulative operational capacity, while its renewable energy target extends to 15 gigawatts by 2030.