ACME Solar Posts 54% Revenue Growth In Q3 FY26 On Capacity Expansion And BESS Acceleration

ACME Solar Holdings Limited has reported a strong financial and operational performance for the third quarter of the 2026 fiscal year, supported by capacity additions, higher power generation, and improved operational efficiency. During the quarter, the company recorded total revenue of INR 617 crore, reflecting a sharp year-on-year increase of 53.9 percent. This growth was also visible in profitability, with EBITDA rising to INR 564 crore. The company maintained a high EBITDA margin of 91.5 percent, indicating stable cost management and efficient operations.

On the operational front, ACME Solar’s power generation increased significantly during the quarter. Total electricity generation reached 1,567 million units, marking a 49 percent rise compared to the same period last year. This improvement was driven by a higher capacity utilization factor and the addition of new operational assets. As of January 2026, the company’s operational capacity stands at 2,962 MW, representing a 16.6 percent increase on a year-on-year basis. During the quarter, ACME Solar partially commissioned a 100 MW wind power project in Gujarat. It also secured a 130 MW round-the-clock renewable energy project from Railway Energy Management Company Limited, further strengthening its diversified portfolio.

The company is also making steady progress in the battery energy storage system segment. ACME Solar has advanced its BESS commissioning plans and now aims to commission around 2 GWh of storage capacity by the fourth quarter of FY26. This target is double the company’s earlier plan of 1 GWh. More than 1,150 MWh of BESS equipment has already been delivered to project sites, indicating strong execution momentum. Looking ahead, ACME Solar has set ambitious long-term goals, targeting 10 GW of total generation capacity and 20 GWh of BESS capacity by 2030.

From a financial perspective, the company has strengthened its balance sheet by securing new debt of approximately INR 3,500 crore for its under-construction projects at an average interest rate of 8.9 percent per annum. In addition, ACME Solar successfully refinanced a 300 MW project at a lower interest rate of 8.0 percent, helping reduce financing costs. Its credit profile remains stable, with rating agencies such as ICRA and CRISIL reaffirming the company’s AA- rating with a stable outlook in January 2026.

ACME Solar’s project portfolio continues to benefit from a strong focus on central government-backed customers. Around 84 percent of its total capacity is contracted with entities such as SECI and NTPC, providing long-term revenue visibility and payment security. This has helped the company reduce its days sales outstanding to 23 days, supporting healthy cash flows. With more than 10,000 acres of land already secured for ongoing projects and a strong pipeline of future bids, ACME Solar remains well-positioned for sustained growth in India’s renewable energy market.