Acme Solar FY25 PAT up 130.7% to ₹251 cr; adds 1,200 MW solar capacity
New Delhi:
Acme Solar
Holdings Ltd reported a 130.7 per cent year-on-year increase in
profit after tax
(PAT) to ₹251 crore in the financial year ended March 2025 (FY25), compared to ₹109 crore in FY24. The company's consolidated total revenue rose 7.4 per cent to ₹1,575 crore in FY25 from ₹1,466 crore in the previous year.
The company commissioned 1,200 MW of
solar capacity
during FY25, including one of India's largest single-location solar projects in Jaisalmer, Rajasthan. In May 2025, it commissioned an additional 165 MW as part of the 300 MW Acme Sikar solar project.
During the year, the company secured 1,900 MW of new project capacity—comprising 1,000 MW of firm and dispatchable renewable energy (FDRE), 600 MW solar, and 300 MW hybrid—and signed 1,890 MW of power purchase agreements (PPAs). The total contracted portfolio now stands at 6,970 MW.
Power generation for FY25 stood at 4,013 million units (MUs), up 55.2 per cent from FY24. The company's capacity utilisation factor (CUF) improved to 25.6 per cent from 23.6 per cent in the previous year. In the fourth quarter, Rajasthan-based operational assets with 1,950 MW contracted capacity delivered an average CUF of 29.4 per cent. Plant and grid availability for the year stood at 99.5 per cent and 99.8 per cent respectively.
For Q4 FY25, Acme reported a 69.5 per cent year-on-year rise in revenue to ₹539 crore.
EBITDA
increased by 118.3 per cent to ₹488 crore, with a quarterly EBITDA margin of 90.5 per cent. The PAT for Q4 FY25 was ₹122 crore, compared to a loss of ₹57 crore in Q4 FY24. Cash PAT rose to ₹238 crore from a negative ₹103 crore in the same quarter last year.
Standalone financials for FY25, which reflect the in-house EPC business, reported revenue of ₹1,512 crore, EBITDA of ₹428 crore and cash PAT of ₹188 crore.
The company said it tied up ₹7,700 crore of refinancing for its operational portfolio at an average interest rate of 8.8 per cent per annum, resulting in an average debt cost reduction of 75 basis points. It also secured debt financing of ₹16,500 crore for 1,700 MW of under-construction projects.
Net debt as of FY25 stood at ₹7,507 crore, including ₹6,232 crore for operational assets and ₹1,275 crore for under-construction capacity. Net debt-to-EBITDA stood at 4.4x, within the target range of 5.5x. Days Sales Outstanding improved from 93 days in FY24 to 42 days in FY25.
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