Acme Solar Holdings Ltd. · NSE:ACMESOLAR
Acme Solar — FY2025 Earnings Presentation
30 slides from Acme Solar's earnings presentation, May 2025
Slide 1: ACME Solar Holdings Limited Earnings Presentation – FY2025
ACME Solar Holdings Limited Earnings Presentation – FY2025 May 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: Key Highlights Q4 & FY25
Key Highlights Q4 & FY25 TOTAL REVENUE (INR Cr) - Q4FY25 Highlights for the year INR 539 Cr 69.5% y-o-y ✓ 1200 MW solar projects commissioned during the year; Additional 165 MW solar capacity commissioned in May’25, ▲101.9% from FY24 EBITDA (INR Cr) - Q4FY25 ✓ 1,900 MW projects won during the year r
Slide 5: Business & Operational Highlights
Business & Operational Highlights Image source: ACME ISTS Project
Slide 6: Business Highlights (1/3)
Business Highlights (1/3) Operational Capacity Capacity Addition ✓ 1,200 MW (1.8 GWp) SECI ISTS projects fully commissioned during the year 102% ✓ 450 MW projects in advanced stages of construction with status as below: 2,705 o 165 MW/300 MW commissioned in Acme Sikar, balance capacity under commiss
Slide 7: Business Highlights (2/3)
Business Highlights (2/3) Financing Update ✓ Debt tied-up for 1,700 MW of UC Capacity to the tune of INR 16,500 Cr Reduction of average ~75 bps ✓ INR 7,700 Cr1 refinanced debt tied up at an average interest rate of ~8.8% p.a. for operational projects, which would result in: interest rates for refina
Slide 8: Business Highlights (3/3)
Business Highlights (3/3) Under Construction projects contracts update Near Commissioning projects update Commitment secured for long lead items of Under Acme Sikar Construction capacity: 300 MW Solar Project ✓ Battery Energy Storage System (3,600 MWh) o 165 MW/300 MW commissioned Acme ✓ Power Conve
Slide 9: Capacity Roadmap
Capacity Roadmap Target to have a portfolio of 10 GW capacity by 2030 40% CAGR 6,970 MW Locked-in projects by FY27/28E 2,540 MW 2,090 MW Run-Rate Annual 10,000 MW Project EBITDA1: 165 MW ~ INR 1,750 - 1,800 Cr commissioned 1,890 MW in May’25 Pre-tax ROCE1: 14.5% 450 MW 4,880 MW 2,990 MW 2,540 MW 2,5
Slide 10: Operational Highlights
Operational Highlights Operational Highlights (Like to like comparison)1 FY24 FY25 FY24 FY25 99.4% 99.5% 23.6% 25.6% Capacity Plant Availability Utilization Factor % (CUF %) 4,013 99.4% 99.8% 2,586 55.2% Generation Grid Availability (in Million Units) % Power generation was up by 55.2% driven by cap
Slide 11: Financial Highlights
Financial Highlights Image source: ACME ISTS Project
Slide 12: Consolidated Financials Highlights – FY25 Y-o-Y
Consolidated Financials Highlights – 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 FY25 1,575 7.4% FY25 1,575 32.3% FY24 1,466 (Adj) FY24 1,191 EBITDA EBITDA FY25 1,406 13.7% FY25 1,406 43.3% F
Slide 13: Consolidated Financials Highlights – Q4 FY25 Y-o-Y
Consolidated Financials Highlights – Q4 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 Q4 FY25 539 69.5% Q4 FY25 539 72.5% Q4 FY24 318 (Adj) Q4 FY24 313 EBITDA EBITDA Q4 FY25 488 118.3% Q4 FY25
Slide 14: Financial Highlights – FY25
Financial Highlights – FY25 Key Financials Consolidated Overview Standalone Overview (Sale of Power) INR Cr (In-house EPC Business) INR Cr Breakdown of Financials Key Consolidated Financials (FY25) Key Standalone Financials (FY25) ❖ At Consolidated level, Operational Revenue is Total Total reflected
Slide 15: Asset Base and Capital Structure
Asset Base and Capital Structure Asset Base (INR Cr) Gross Debt (INR Cr) Net Worth (INR Cr) 15,507 CWIP, 1,362 11,390 4,509 10,423 CWIP, 2,828 Cash, 8,218 2,916 Gross Cash, Block, 1,465 2,591 14,144 Gross Block, Net Net Debt, 8,562 Debt, 7,507 6,753 FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 ❖
Slide 16: Other Financial Highlights
Other Financial Highlights Net Debt (INR Cr)1 Net Debt to EBITDA2 Operational Net Debt CWIP Net Debt Net Debt/ EBITDA EBITDA (INR Cr) 7,507 4.4x 6,753 4.4x 1,275 1,339 1,236 1,406 5,413 6,232 FY24 FY25 FY24 FY25 Cash RoE4 (%) Net Debt to Net Worth3 11.4% 15.7% 2.6 1.7 FY24 FY25 FY24 FY25 Net Debt/Ru
Slide 17: Continued Improvement in Days of Sales O/S
Continued Improvement in Days of Sales O/S DSO (as Billed) as of FY251 FY2024 Offtaker Split FY2025 Offtaker Split 218 181 Central Central Offtakers Offtakers State 37% 67% Offtakers 33% 93 Operational Operational Portfolio Portfolio 42 * State Offtakers 63% Share of Central Offtakers has increased
Slide 18: Company Overview
Company Overview Image source: ACME ISTS Project
Slide 19: ACME Solar
ACME Solar One of the Largest Renewable Energy IPPs in India About the Company Credit Rating - ASHL CRISIL A+/ Portfolio of 6,970 MW spanning across solar, wind, Feb’25 hybrid & FDRE projects Positive Shareholding Pattern1 Non-Institutional Investors In-House EPC and O&M Capabilities: Institutional
Slide 20: 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 Majority of operational portfolio located at high across new age technologies like FDRE and Hybrid resource potential states Weighted Average Ta
Slide 21: Awards and Recognitions
Awards and Recognitions Honored with the Certificate of Appreciation at Rising Rajasthan on successful completion of ISTS 1,200 MW project in Jaisalmer. Large Scale Solar Project Awarded ”Industrial Safety Developer of the Year for Leadership Award’ to Karnataka to Acme Viswatma Solar Energy Sidlagh
Slide 22: Project Details
Project Details Image source: ACME ISTS Project
Slide 23: 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 24: 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 25: 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 26: 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 Debt Tied Up Tariff Adoption Grid Connectivity Acme Pokhran Solar Private Limited Wind 50 GUVNL PPA signed ✓ Tariff adopted Secured Acme Eco Clean
Slide 27: Annexure
Annexure Image source: ACME ISTS Project
Slide 28: 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) FY25 FY24 Particulars (INR Cr) FY25 FY24 Revenue from operations 1,405 1,319 EPC Revenue 1,352 471 Other income 170 147 Oth
Slide 29: Adjustments related to Monetized Assets in Consolidated Financials
Adjustments related to Monetized Assets in Consolidated Financials A=B+C B C Reported Adjusted Q4 FY24 Monetized Assets Particulars (INR Cr) Q4 FY24 for comparison with Q4 FY25 Q4 FY24 Power Sale Revenue (I) 295 290 5 Other Income (II) 23 22 1 Total Revenue (I + II) 318 313 6 EBITDA 224 223 1 PAT 53
Slide 30: Thank You
Thank You Reach out to us: Investor Relations Email: investor.relations@acme.in Website: www.acmesolar.in Image source: ACME ISTS Project