ACME’s Q3 FY 2025 Revenue Rises 10% After 1.2 GW Solar Project Launch

05 Feb 2025 CW Team

ACME Solar Holdings reported a consolidated revenue of Rs 4.01 billion for the third quarter (Q3) of the financial year (FY) 2025, marking a 9.9 per cent year-over-year (Y-o-Y) increase from Rs 3.65 billion and a 35.8 per cent growth from Rs 2.95 billion in the previous quarter. The company attributed the revenue boost to the phased commissioning of a 1,200 MW project for the Solar Energy Corporation of India.

The profit after tax (PAT) for the quarter surged to Rs 1.12 billion, reflecting a 152.1 per cent Y-o-Y growth from Rs 440 million, with a PAT margin of 28 per cent, up from 12.2 per cent. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for Q3 FY 2025 stood at Rs 3.59 billion, representing a 15.7 per cent Y-o-Y increase from Rs 3.1 billion. The EBITDA margin also improved to 89.6 per cent from 85.1 per cent in the same period last year. Earnings per share (EPS) for the quarter reached Rs 2.09, marking a 161 per cent Y-o-Y growth.

In the first nine months of FY 2025, ACME Solar generated 2,499 million units (MU) of electricity, a 34.5 per cent increase from the previous year. The company’s capacity utilization improved to 23.7 per cent, up 3.2 per cent from the same period in FY 2024. However, for 9M FY 2025, EPS declined by 23 per cent Y-o-Y, while revenue decreased from Rs 10.24 billion in FY23 to Rs 9.18 billion in FY24.

ACME Solar used proceeds from its initial public offering (IPO) to reduce its debt by Rs 20.7 billion, bringing total debt to Rs 68.82 billion. The company’s annual EBITDA run rate is projected between Rs 17.5 billion and Rs 18 billion, with a pre-tax return on capital employed of 14.5 per cent. It is also focused on expanding its under-construction capacity, with significant financing secured for on-going projects.

News source: Mercom India

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