ACME Solar has reported its third-quarter results for the financial year 2024-25 (Q3 FY 2024-25), ending on December 31, 2024. The company’s profit after tax (PAT) rose by 152 per cent year-on-year, reaching Rs 1.12 billion, with a PAT margin of 28 per cent. The total revenue for the quarter stood at Rs 4.01 billion, reflecting a 9.9 per cent year-on-year increase and a 35.8 per cent quarter-on-quarter growth. The earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 15.7 per cent year-on-year to Rs 3.59 billion, achieving an EBITDA margin of 89.6 per cent.
As of Q3 FY 2024-25, ACME Solar’s net debt-to-equity ratio stands at 1.6x, primarily due to debt repayment from initial public offering proceeds. The company’s total net debt is Rs 68.82 billion, with Rs 60.69 billion allocated to the operational portfolio and Rs 8.13 billion assigned to under-construction projects. At the standalone level, ACME Solar, which manages its in-house engineering, procurement, and construction (EPC) business for its projects, reported total revenue of Rs 12.03 billion, an EBITDA of Rs 4.07 billion, and a cash PAT of Rs 1.98 billion for the first nine months of FY 2024-25.
In terms of financing, ACME Solar has secured Rs 165 billion in debt for 1,700 MW of its under-construction portfolio. Additionally, refinancing efforts for the operational portfolio have resulted in Rs 55 billion in fresh debt at an average rate of 8.8 per cent per annum, reducing the cost of debt by 70 basis points and releasing Rs 6.5 billion in cash.
