ACME Solar Announces its Q2 FY25 Results PAT increased from 1cr to 15cr compared to last quarter

Key Financial Parameters:

The Company monetized 369 MW of its operational assets in H2FY24. Thus, for like-to-like periodic comparison with H1FY25 C Q2FY25, the financial C operational highlights for H1FY24 C Q2 FY24 have been adjusted to factor in the impact of monetized assets as shown below:

		Adjusted			Adjusted
Particulars (INR Cr)	H1 FY25	H1 FY24	Y-o-Y %	Q2 FY25	Q2 FY24	Y-o-Y %
Total Revenue	635	602	5.5%	295	275	7.4%
EBITDA	558	533	4.8%	256	247	3.7%
EBITDA Margin (%)	87.9%	88.5%		86.8%	89.9%
Cash PAT	152	137	10.6%	75	43	75.4%

• Total revenue for H1FY25 at INR 635 Cr up 5.5% YoY and Q2FY25 at INR 295 Cr up 7.4% YoY.
• EBITDA for H1FY25 at INR 558 Cr, up 4.8% YoY and Q2FY25 at INR 256 Cr, up 3.7% YoY.
• Consistent and healthy EBITDA margin at ~88%.
• Cash PAT for H1FY25 at INR 152 Cr, up 10.6% YoY and Q2FY25 at INR 75 Cr, up 75.4% YoY.
• PAT at INR 15 Cr for the Q2FY25 vis-à-vis INR 1 Cr in Q1FY25 on a QoQ basis.
• Net Debt/Equity stood at 2.1x as of Q2FY25.

Standalone Financial Highlights (Represents revenue from EPC Business)            

• Standalone financials accounts for in-house EPC business for its own projects which gets eliminated at consolidated financials.
• At Standalone level, the Company reported total revenue of INR 876 Cr and Cash PAT of INR 198 Cr for H1FY25.

Business s Portfolio Highlights for YTD FY25      

• Total Portfolio of company stands at 6,720 MW comprising 2,540 MW of operational C 4,180 MW of Under construction (UC) projects spanning across Solar, Wind, FDRE C Hybrid Project
• Total operational capacity has increased to 2,540 MW from 1,340 MW as of Q1FY25 representing approximately 90% expansion in the operational capacity.
  1. Increase in operational capacity is on account of recently energised 1,200 MW SECI ISTS projects3 in October 2024.
• The company won multiple projects with combined capacity of 1,350 MW in FY25 till date contracted with central off-takers (SECI, NTPC and SJVN) taking the total order book (UC projects) to 4,180 MW.
• Out of 4,180 MW UC projects:
  1. Grid connectivity is in place for all the projects
  2. PPA has been signed for 1,660 MW
  3. LOA has been awarded for 2,120 MW
  4. Debt has been tied up for INR 1,400 MW to the tune of ~14,500 Crore
• Debt tied up for refinancing of operational projects of ~INR 4,500 Cr resulting in a cash release of ~INR 590 Cr.

Operational Highlights

• Capacity utilization factor has increased from 23.3% in H1FY24 to 24.6% in H1FY25 owing to initiatives focused on preventive and predictive maintenance.
• Plant availability has improved from 99.2% in H1FY24 to 99.3% in H1FY25.
• The implementation of drycleaning robots streamlined the process of module cleaning and enhanced operational performance.