India · Delayed Price · Currency is INR ACME Solar Holdings Earnings Call Transcripts
Fiscal Year 2026
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Revenue and profit surged in FY26, driven by capacity additions and high BESS performance. Merchant BESS operations are ramping up, with strong EBITDA margins and improved receivables, while regulatory changes and robust demand support future growth.
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Revenue grew 54% YoY to INR 617 crore, with EBITDA margin at 91.5% and PAT at INR 114 crore. Operational capacity reached 2,962 MW, and BESS guidance was upgraded to 2 GWh for Q4 FY26. Minimal impact from Chinese VAT changes; strong PPA pipeline and robust execution outlook.
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Revenue doubled and EBITDA nearly tripled year-over-year, driven by strong project execution and sector tailwinds. Portfolio expanded to 7,390 MW with significant BESS capacity, while financial discipline and capital optimization improved margins and cash flow.
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Q1 FY26 saw strong revenue and EBITDA growth, major capacity additions, and strategic wins in battery storage. CapEx and debt are well managed, with further cost reductions expected. Execution and regulatory risks are mitigated, and innovation continues to drive efficiency.
Fiscal Year 2025
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FY2025 saw strong capacity growth, robust financial performance, and a strategic shift toward hybrid and FDRE projects. Revenue and EBITDA rose sharply, with improved credit ratings and significant refinancing gains. Battery storage and prudent capital management position the company for continued expansion.
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Operational capacity nearly doubled to 2,540 MW, with strong financial performance: Q3 revenue up 45% YoY (adjusted), EBITDA up 59% (adjusted), and PAT margin at 28%. Net debt reduced post-IPO, and robust project pipeline and execution support positive outlook.
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Revenue and EBITDA grew 5.5% and 4.8% YoY for H1 FY25, with strong margins and improved CUF. Operational capacity doubled to 2.5 GW, and 4.2 GW is under construction with funding secured. No immediate equity raise planned; focus remains on mid-teen IRRs and disciplined growth.