Acme Solar Holdings Ltd. · NSE:ACMESOLAR
Acme Solar — Q3 FY2025 Earnings Presentation
28 slides from Acme Solar's earnings presentation, Jan 29, 2025
Slide 1: ACME Solar Holdings Limited Earnings Presentation – Q3 FY2025
ACME Solar Holdings Limited Earnings Presentation – Q3 FY2025 January 2025
Slide 2: Disclaimer
Disclaimer By attending the presentation or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by ACME Solar Holdings Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any
Slide 3: Agenda
Agenda Business & Operational Highlights Financial Highlights Company Overview Project Details Annexure 3
Slide 4: Business & Operational Highlights
Business & Operational Highlights Image source: ACME ISTS Project
Slide 5: Business Highlights YTD (1/2)
Business Highlights YTD (1/2) Operational Capacity Capacity Addition 90% ✓ 1,200 MW (1.8 GWp) SECI ISTS projects fully commissioned taking the operational 2,540 portfolio to 2,540 MW (3.6 GWp) 1,340 MW ✓ 450 MW (300 MW solar + 150 MW wind) of capacity in advance stages of construction MW FY24A FY25
Slide 6: Business Highlights YTD (2/2)
Business Highlights YTD (2/2) Net Debt Reduction (INR Cr) Financing Update ✓ Debt reduced by ~INR 2,070 Cr through of IPO proceeds till date 21% ✓ Debt sanctioned for 1,700 MW UC projects amounting ~INR 16,500 Cr 8,755 ✓ Debt tied up for refinancing of operational projects of ~INR 5,500 Cr at an ave
Slide 7: Capacity Roadmap
Capacity Roadmap Target to have a portfolio of 10 GW contracted capacity by 2030 Run-Rate Annual Project EBITDA1: ~ INR 1,750 - 1,800 Cr. Pre-tax ROCE1: 14.5% 40% CAGR 6,970 MW 2,540 MW Operational Portfolio FY27 / FY28E (as on date) 1. Pre-tax ROCE calculated as: Run Rate EBITDA/Gross Block. Expect
Slide 8: Operational Highlights
Operational Highlights Operational Highlights (Like to like comparison)1 9M FY24 9M FY25 9M FY24 9M FY25 99.3% 99.4% 23.0% 23.7% Capacity 3.2% Plant Availability Utilization Factor % (CUF %) 2,499 99.4% 99.6% 1,858 34.5% Generation Grid Availability (in Million Units) % Optimized MTTR and MTBF throu
Slide 9: Financial Highlights
Financial Highlights Image source: ACME ISTS Project
Slide 10: Consolidated Financials Highlights – Q3 FY25 Y-o-Y
Consolidated Financials Highlights – Q3 FY25 Y-o-Y Key Consolidated Financials as Reported (INR Cr) Key Consolidated Financials – Like-to-Like Asset Basis (INR Cr)1 TOTAL REVENUE TOTAL REVENUE Q3 FY25 401 9.9% Q3 FY25 401 45.1% Q3 FY24 365 (ADJ) Q3 FY24 276 EBITDA EBITDA Q3 FY25 359 15.7% Q3 FY25 35
Slide 11: Financial Highlights – 9M FY25
Financial Highlights – 9M FY25 Key Financials Consolidated Overview Standalone Overview (Sale of Power) INR Cr (In-house EPC Business) INR Cr Breakdown of Financials Key Consolidated Financials (9M FY25) Key Standalone Financials (9M FY25) ❖ At Consolidated level, Operational Revenue is reflected on
Slide 12: Gross Block and Net Debt Movement
Gross Block and Net Debt Movement Asset Base (INR Cr) Gross Debt (INR Cr) Net Debt (INR Cr) 14,906 Operational CWIP 14,290 10,354 CWIP, 1,678 309 (1,907) 8,755 Cash, 1,598 8,779 CWIP, 5,730 24 (298) 6,882 Cash, 3,238 1,897 813 Gross Block, Net 13,228 Debt, 8,755 Net Gross Debt, 6,069 Block, 5,517 6,
Slide 13: Other Financial Highlights
Other Financial Highlights Net Debt (INR Cr)1 Operational Net Debt to Annualized EBITDA2 Operational Net Debt CWIP Net Debt Operational Net Debt/ Annualised EBITDA (INR Cr) Annualized EBITDA 6,852 6,882 5.0x 1,088 813 5.7x 1,223 5,765 6,069 1,010 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Cash RoE4 (%) Net Deb
Slide 14: Continued Improvement in Days of Sales O/S
Continued Improvement in Days of Sales O/S Days of Sales Outstanding as on 9M FY251 228 197 147 117 72 * FY22 FY23 9M FY24 FY24 9M FY25 • There has been a continuous improvement in DSO days • ~43% of O/S receivables as on Q3 FY25 are due to AP discoms representing ~6% of operational capacity as of Q
Slide 15: Company Overview
Company Overview Image source: ACME ISTS Project
Slide 16: ACME Solar
ACME Solar One of the Largest Renewable Energy IPPs in India About the Company Credit Rating - ASHL Portfolio of 6,970 MW spanning across solar, wind, CRISIL A1 April’24 hybrid & FDRE projects Shareholding Pattern1 Non-Institutional Investors In-House EPC and O&M Capabilities: Institutional Investor
Slide 17: Portfolio with Strong Offtakers located at Strategic Locations
Portfolio with Strong Offtakers located at Strategic Locations Diversified portfolio with ~ 85% of the portfolio contracted with central offtakers spanning >75% of operational portfolio located at one of the across new age technologies like FDRE and Hybrid highest resource potential state of Rajasth
Slide 18: Awards and Recognitions
Awards and Recognitions ACME Shines with the inauguration of 1,200 MW Solar Plant Inauguration of the 1,200 MW SECI ISTS solar power project in Jaisalmer, Rajasthan, by Hon'ble Union Minister Mr. Pralhad Joshi marks a significant milestone in clean energy. This landmark project will generate 3,000 m
Slide 19: Peer Comparison – Q3 FY25
Peer Comparison – Q3 FY25 Particulars ACME Solar NTPC Green* Adani Green** Solar Capacity (MW) 2,540 3,375 7,756 Wind Capacity (MW) - 100 1,714 Hybrid Capacity (MW) - - 2,140 Total Operational Capacity (MW) 2,540 3,475 11,610 CUF - Solar 23.70% NA 23.50% (INR Cr) Total Revenue 401 581 2,630 EBITDA1
Slide 20: Project Details
Project Details Image source: ACME ISTS Project
Slide 21: Operational Portfolio Overview (1/2)
Operational Portfolio Overview (1/2) PPA Tenor Name of Project SPV(s) State Type Capacity (in MW) Off-taker Tariff (INR/kWh) COD (years) First 12 years - 15.00 ACME Solar Technologies (Gujarat) Private Limited Gujarat Solar 15 GUVNL Mar-12 25 Next 13 years - 5.00 Madhya Phase I (10MW) - December 201
Slide 22: Operational Portfolio Overview (2/2)
Operational Portfolio Overview (2/2) PPA Tenor Name of Project SPV(s) State Type Capacity (in MW) Off-taker Tariff (INR/kWh) COD (years) ACME Jodhpur Solar Power Private . Limited Solar 100 SECI 2.44 Sep-18 25 ACME Rewa Solar Power Private Limited Solar 100 SECI 2.44 Oct-18 25 Rajasthan Phase I (100
Slide 23: Under Construction Portfolio Overview (1/2)
Under Construction Portfolio Overview (1/2) Tariff Project Name Type Contracted Capacity (MW) Off-taker PPA Tenor (years) (INR/kWh) ACME Pokhran Solar Private Limited Wind 50 GUVNL 2.90 25 ACME Eco Clean Energy Private Limited Wind 100 GUVNL 3.01 25 ACME Surya Power Private Limited FDRE 250 SJVN 4.3
Slide 24: Under Construction Portfolio Overview (2/2)
Under Construction Portfolio Overview (2/2) I. PPA signed - Under Construction Portfolio Project Name Type Contracted Capacity (MW) Off-taker PPA Status Tariff Adoption Grid Connectivity ACME Pokhran Solar Private Limited Wind 50 GUVNL PPA signed Tariff Adopted Secured Connectivity - 50 MW ACME Eco
Slide 25: Annexure
Annexure Image source: ACME ISTS Project
Slide 26: Key Standalone and Consolidated Financials (Reported)
Key Standalone and Consolidated Financials (Reported) ACME Consolidated Overview (from Sale of Power) ACME Standalone Overview (from In-house EPC Business) Particulars (INR Cr) Q3 FY25 Q2 FY25 Q3 FY24 Particulars (INR Cr) Q3 FY25 Q2 FY25 Q3 FY24 Revenue from operations 349 260 332 EPC Revenue 279 43
Slide 27: Adjustments related to Monetized Assets in Consolidated Financials
Adjustments related to Monetized Assets in Consolidated Financials A=B+C B C Adjusted Q3 FY24 Reported Monetized Assets Particulars (INR Cr) for like-to-like comparison with Q3 FY24 Q3 FY24 Q3 FY25 Power Sale Revenue (I) 332 254 78 Other Income (II) 33 22 11 Total Revenue (I + II) 365 276 88 EBITDA
Slide 28: Thank You
Thank You Reach out to us: Investor Relations Email: investor.relations@acme.in Website: www.acmesolar.in Image source: ACME ISTS Project
ACME Solar Holdings — Q3 FY2025 Earnings Presentation on 6ix