Acme Solar Holdings Ltd. · NSE:ACMESOLAR
Acme Solar — Q1 FY2027 Earnings Presentation
35 slides from Acme Solar's earnings presentation, Jul 29, 2026
Slide 1: Exchange filing cover letter for Investor Presentation
Leading Through Innovation July 29, 2026 To To BSE Limited National Stock Exchange of India Ltd Corporate Relationship Dept., Corporate Relationship Dept., Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Mumbai 400001 Bandra-Kurla Complex, Bandra (East), Mumbai 400 05
Slide 2: Earnings Presentation – Q1 FY2027
ACME Solar Holdings Limited Earnings Presentation – Q1 FY2027 July 2026
Slide 3: 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 4: Agenda
Agenda Business & Operational Highlights Financial Highlights Capacity Execution and Growth Plan Company Overview Project Details 3
Slide 5: Key Highlights – Q1 FY27
KEY HIGHLIGHTS – Q1 FY27 TOTAL REVENUE1 (INR Cr) EBITDA1 (INR Cr) PAT (INR Cr) QUARTER COMPARISON (Q1) QUARTER COMPARISON (Q1) QUARTER COMPARISON (Q1) Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 584 954 531 831 131 235 63.3% 56.5% 79.9% YoY YoY YoY Highlights of the quarter till date: ✓ Highest
Slide 6: Business & Operational Highlights
Business & Operational Highlights Image source: ACME project in Rajasthan
Slide 7: Business Highlights – Q1 FY27 till date (1/2)
Business Highlights – Q1 FY27 till date (1/2) Operational Capacity BESS Capacity Commissioned Generation Capacity BESS Capacity ✓ Commissioned ~2.3 GWh during the quarter till date, taking the cumulative commissioned BESS 2,890 2,990 3,621 capacity to ~3.62 GWh MW MW MWh Q1 FY26 July'26 Short term B
Slide 8: Business Highlights – Q1 FY27 till date (2/2)
Business Highlights – Q1 FY27 till date (2/2) Capex Status Capex ~INR 2,958 Cr ✓ In Q1 FY27, ~INR 2,958 Cr of capital expenditure incurred capex incurred during Q1 FY27 ✓ Purchase Orders have been given for ~INR 2,300 Cr as of 30th June Financing Update Financing and Rating Updates ✓ Debt tied up of
Slide 9: Operational Highlights – Q1 FY27
Operational Highlights – Q1 FY27 Operational Highlights Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 28.5% 30.9% 99.4% 99.2% Capacity Plant Availability Utilization Factor % (CUF %) 2,020 98.7% 98.8% 1,636 23.4% Generation Grid Availability (in Million Units) % • Highest ever quarterly CUF achieved at 30.9% • Po
Slide 10: Financial Highlights
Financial Highlights Image source: ACME project in Rajasthan
Slide 11: Consolidated Financial Highlights – Q1 FY27
Consolidated Financial Highlights – Q1 FY27 Total Revenue1 (INR Cr) EBITDA1 (INR Cr) 63.3% 56.5% 954 831 584 531 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 PAT (INR Cr) Cash PAT2 (INR Cr) 53.4% 79.9% 390 235 254 131 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Remarks: ▪ Revenue increased by 63.3% for the quarter (y-o-y ba
Slide 12: Financial Highlights – Q1 FY27
Financial Highlights – Q1 FY27 Key Financials Consolidated Overview Standalone Overview (Sale of Power) INR Cr (In-house EPC Business) INR Cr Breakdown of Financials Key Consolidated Financials (Q1 FY27) Key Standalone Financials (Q1 FY27) ❖ At Consolidated level, Operational Revenue is Total Total
Slide 13: Asset Base and Capital Structure (YoY)
Asset Base and Capital Structure (YoY) Asset Base (INR Cr) Net Debt (INR Cr) Net Worth (INR Cr) 24,910 CWIP, 5,297 16,316 CWIP, 12,600 1,020 Gross Block, 7,842 8,067 Gross 19,613 Block, 15,296 4,647 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 ❖ Asset base stands at INR 24,910 Cr, up INR 8,593 Cr
Slide 14: Other Financial Highlights (YoY)
Other Financial Highlights (YoY) Net Debt (INR Cr)1 Net Debt to EBITDA2 Operational Net Debt CWIP Net Debt Net Debt/TTM EBITDA TTM EBITDA (INR Cr) 12,600 2.9x Lower ratio driven by QIP inflow reducing net debt 7,842 5,050 4.2x 897 2,565 6,944 7,550 1,634 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Cash RoE4 (%)
Slide 15: Continued Improvement in Days of Sales O/S
Continued Improvement in Days of Sales O/S DSO (as Billed) as of Q1 FY271 Operational Offtaker Split Total Portfolio Offtaker (2,990 MW) Split (8,070 MW) 181 State & Other Other State Central Offtakers Offtakers Central Offtakers 14% 28% Offtakers 67% 84% GUVNL 2% 93 Operational Total Portfolio Port
Slide 16: Regulatory Highlights
Regulatory Highlights ✓ MNRE extended the commissioning deadline to 31.12.2026 for Open Access and Net Metering RE projects, ensuring ALMM Timeline Extension regulatory certainty and a smooth transition to cell-level (List-II) compliance. Impact on ACME: Provides flexibility to explore and commissio
Slide 17: Capacity Execution and Growth Plan
Capacity Execution and Growth Plan Image source: ACME project in Rajasthan
Slide 18: BESS Performance – Q1 FY27
BESS Performance – Q1 FY27 P&L Snapshot for Commissioned BESS – Q1 FY27 Performance of BESS – Q1 FY27 Particulars (INR Cr) Total INR Cr ✓ Revenue mix of BESS: Capacity Commissioned – June’26 3.1 GWh 85% Short term Contracts Revenue from Sale of Power 226 15% Cost of Power 39 Merchant ✓ Technical Per
Slide 19: Upcoming Project Status (1/2)
Upcoming Project Status (1/2) Contracted Night Time GNA Expected SCOD/ SPV Name Capacity Substation Name Operationalisation GNA Timeline FY27 Commissioning Targets Plant Readiness (MW) Status ACME Surya Power Pvt. Ltd. 250 Fatehgarh II Jun’27 Dec’26 ✓ Target to commission: ▪ ~1.5 GW renewable ener
Slide 20: Upcoming Project Status (2/2) – BESS
Upcoming Project Status (2/2) – BESS BESS Readiness and Commissioning BESS BESS Substation Name Commissioning Plan (MWh) Bay Charging Status Commissioned by Q1 Q2E Q3E Q4E Bikaner-II Charged 1,103 - 200 - Bikaner-III Charged - 550 1,000 - Bhadla-II Charged 1,404 - - - Neemuch Aug-26 - 600 750 Fatehg
Slide 21: Capacity Roadmap
Capacity Roadmap Target to have a portfolio of 10 GW generation capacity and 25 GWh BESS capacity by 2030 35% CAGR 8,070 MW (~14 GWp + ~20 GWh) ~25 GWh Under Construction projects BESS Commissioning: 10+ GWh 1,200 MW BESS 2,370 MW Commissioning: 10+ GWh 10,000 MW BESS Commissioned: ~3.6 GWh 1,510 MW
Slide 22: BESS Incident: Root Cause and Corrective Actions
BESS Incident: Root Cause and Corrective Actions MEASURES WHICH HELPED / ACTIONS IMPLEMENTED Root Cause Analysis July 13, 2026, Acme Suryodaya BESS facility Detection Electrical short circuit in the AC cabling between • AI analytics on installed CCTV for early fire detection the transformer and the
Slide 23: BESS: Project Quality and Operational Controls
BESS: Project Quality and Operational Controls Battery Container DC Breaker for Smoke Detector Fault isolation Sensor PCS Duty Transformer PCS Nitrogen based fire ICOG Control Panel AC Breaker for protection system Fault isolation 300 Sq. mm. 630V 33 KV DC cable 300 Sq. mm. 3 X 185 AC cable Sq.mm. C
Slide 24: Company Overview
Company Overview Image source: ACME project in Rajasthan
Slide 25: ACME Solar
ACME Solar One of the Largest Renewable Energy IPPs in India About the Company Credit Rating - ASHL Portfolio of 8,070 MW spanning across solar, wind, storage, ICRA CRISIL hybrid & FDRE projects AA- /Stable AA- /Stable Re-affirmed (Apr’26) Re-affirmed (Jan’26) Shareholding Pattern1 Non-Institutional
Slide 26: Portfolio Overview
Portfolio Overview Diversified portfolio with over 80% of the portfolio with central offtakers spanning across new Majority of operational portfolio located at high age technologies like FDRE and Hybrid resource potential states Weighted Average Tariff Operational Under Operational, PPA Signed, 3,88
Slide 27: Project Details
Project Details Image source: ACME project in Rajasthan
Slide 28: 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 29: 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 Pvt. Ltd. Solar 100 SECI 2.44 Sep-18 25 Acme Rewa Solar Power Pvt. Ltd. Solar 100 SECI 2.44 Oct-18 25 Rajasthan Phase I (100 MW) April 202
Slide 30: Under Construction Portfolio Overview (1/2)
Under Construction Portfolio Overview (1/2) I. PPA signed Grid Project Name Type Capacity (MW) Off-taker Tariff (INR/KWh) PPA Status Debt Tied Up Tariff Adoption Connectivity Acme Surya Power Pvt. Ltd. FDRE 250 SJVN 4.38 PPA signed Tariff adopted Secured Acme Sun Power Pvt. Ltd. FDRE 320 SJVN 4.38
Slide 31: Under Construction Portfolio Overview (2/2)
Under Construction Portfolio Overview (2/2) II. PPA yet to be signed Project Name Type Capacity MW Off-taker Tariff (INR/KWh) LOA/PPA Tariff Adoption Grid Connectivity Acme Alpha Renewables Pvt. Ltd. Hybrid 150 NTPC 3.32 LOA awarded Tariff adopted Secured Acme Omega Urja Pvt. Ltd. Solar 300 SJVN 2.5
Slide 32: Annexure
Annexure Image source: ACME project in Rajasthan
Slide 33: Key Standalone and Consolidated Financials
Key Standalone and Consolidated Financials ACME Consolidated Overview (from Sale of Power) ACME Standalone Overview (from In-house EPC Business) Particulars (INR Cr) Q1 FY27 Q4 FY26 Q1 FY26 Particulars (INR Cr) Q1 FY27 Q4 FY26 Q1 FY26 Revenue from operations 858 548 511 EPC Revenue 2,266 2,378 283 O
Slide 34: Breakdown of Other Income
Breakdown of Other Income Particulars (INR Cr) Q1 FY27 Q4 FY26 Q1 FY26 Remarks Recurring Income: Includes interest income on FD created towards DSRA Interest on Fixed deposits 62 43 40 maintenance a BGs provided for connectivity and under PPA (Performance Bank Guarantee) Recurring: Ind AS income aga
Slide 35: Thank You
COMPANY : ACME Solar Holdings Ltd. CIN : L40106HR2015PLC102129 Email: investor.relations@acme.in www.acmesolar.in INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services MUFG (Investor Relations) Mr. Nikunj Seth N
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