ACME Solar Holdings Ltd
ACME Solar Holdings Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
ACME Solar plans to commission 450 MW of renewable energy capacity in FY26, with 378 MW already commissioned and 72 MW under advanced construction (page 4). - Operational portfolio now stands at approx. ACME Solar targets commissioning 450 MW renewable energy capacity in FY26, on track with 378 MW done and 72 MW under advanced construction.
From ACME Solar Holdings Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- ACME Solar plans to commission 450 MW of renewable energy capacity in FY26, with 378 MW already commissioned and 72 MW under advanced construction (page 4).
- Operational portfolio now stands at approx. 2,918 MW, targeting annual steady-state project EBITDA of INR 2,025-2,075 crores, yielding ~14%-15% EBITDA margin (page 5).
- Under construction portfolio extends to around 4.5 GW including signed PPAs of 2.3 GW (page 5).
- New projects won totaling 720 MW capacity which will contribute to near-term growth (page 5).
- Battery energy storage system (BESS) operations (1 GWh) expected from Q4 FY26, providing additional annual EBITDA upside of ~INR 170 crores (page 4).
- Early commissioning of projects like Sikar has a minor impact (1.5%-2%) on annual revenue but overall beneficial (page 20).
- Overall, the company aims to maintain around 14%-15% EBITDA yield, driven by growth in solar, wind, and battery storage integration.
Profitability & Margins
See what ACME Solar Holdings Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- FY 2026 Capex Target: INR 12,000 crores with 75-80% debt and 20-25% equity funding.
- FY 2027 Capex Plan: INR 12,000-13,000 crores anticipated with similar debt-equity ratio.
- INR 3,000 crores equity already available in the balance sheet for current projects; some equity portion reserved for next year's projects.
- Funding sources include undrawn securitization proceeds (~INR 1,000 crores), refinancing proceeds (~INR 1,000 crores), and operating cash flows (PAT plus tax depreciation generating ~INR 260-275 crores annually).
- Capex focus is on solar-heavy configurations, batteries (5 GWh ordered, significant capex expected starting January), and Indian solar modules.
- Battery energy storage system (BESS) investments include 1 GWh expected to generate INR 170 crores in early revenues.
- Financing includes INR 7,000 crores recently secured for 680 MW FDRE projects, enhancing cost efficiency.
- Strategic focus on reducing capex by optimizing equipment procurement and installation timelines.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what ACME Solar Holdings Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- ACME Solar has an under-construction portfolio of around 4.5 gigawatts, including 2.3 gigawatts with signed PPAs.
- During the recent quarter, they won new projects totaling 720 megawatts: 50 MW FDRE with Tata Power and 670 MW solar plus BESS.
- The operational portfolio stands at approximately 2,918 megawatts.
- About 720 MW of new capacity won, but portfolio size increased only by 420 MW due to removal of a 300 MW NTPC project.
- The 42 gigawatt capacity awarded in FY24 and FY25 had about 6-6.5 GW still pending PPA signing (SECI) with improvements expected.
- ACME is in advanced discussions for several PPAs, expecting signings soon, with no cancellations anticipated given attractive tariffs and state demands.
- The company manages connectivity timelines actively, with maximum expected project delays limited to one quarter within PPA timelines.
ACME Solar Holdings Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹548 Cr, net profit ₹138 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What ACME Solar Holdings Ltd's management said in earlier quarters
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Frequently Asked Questions
What were ACME Solar Holdings Ltd Q2 FY26 results?
ACME Solar plans to commission 450 MW of renewable energy capacity in FY26, with 378 MW already commissioned and 72 MW under advanced construction (page 4). - Operational portfolio now stands at approx. ACME Solar targets commissioning 450 MW renewable energy capacity in FY26, on track with 378 MW done and 72 MW under advanced construction.
What is ACME Solar Holdings Ltd share price analysis?
ACME Solar Holdings Ltd currently shows a neutral. The stock trades at a P/E of 45.4 with a market cap of ₹27,020 Cr. Investors should review the full earnings analysis for detailed insights.
Is ACME Solar Holdings Ltd planning capital expenditure?
FY 2026 Capex Target: INR 12,000 crores with 75-80% debt and 20-25% equity funding.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.