ACME Solar Holdings Ltd announced a remarkable 98.5% increase in its full-year net profit, reaching ₹498 crore for FY26. The Gurugram-based renewable energy firm significantly expanded its capacity and became one of the first Indian independent power producers to engage in large-scale battery energy storage operations at merchant rates.
The company reported a consolidated total revenue growth of 59.2% year-on-year, totaling ₹2,507 crore for FY26. EBITDA rose by 61.2% to ₹2,265 crore, with EBITDA margins remaining stable at 90.3%, up from 89.2% in FY25, indicative of operating leverage from new projects. Cash profit after tax soared to ₹963 crore, marking a 72.3% increase compared to the previous fiscal year.
For the fourth quarter ending March 2026, revenue climbed 30.7% to ₹705 crore, while EBITDA increased by 30.3% to ₹636 crore. However, quarterly profit-after-tax growth was more modest, at 13.3%, reaching ₹138 crore.
A notable achievement this year was the commissioning of approximately 2.3 GWh of battery energy storage across three project sites in Rajasthan, regarded as one of India’s largest such deployments. The storage assets are currently generating net realizations of around ₹2.2 crore per day through tariff arbitrage in merchant and short-term peak power markets, boasting a round-trip efficiency between 88% and 90%.
Additionally, the company fully commissioned its 100 MW Acme Eco Clean wind project in Gujarat during the quarter, bringing total operational generation capacity to 2,990 MW. Power generation for FY26 amounted to 6,464 million units, reflecting a 61.1% increase from the previous year.
On the project pipeline front, ACME secured a 301 MW FDRE contract with SECI in Q4, escalating its under-construction portfolio to 5,081 MW. The company’s total portfolio now stands at 8,071 MW, including plans for 17 GWh of battery energy storage systems (BESS), with a goal of achieving 10 GW of generation capacity and 20 GWh of BESS by 2030.
Net debt rose to ₹12,830 crore as capital expenditures ramped up; however, the net debt-to-EBITDA ratio improved to 3.9x from 4.4x the previous year. Days of sales outstanding significantly decreased to 14 days in FY26 from 42 days in FY25, indicating enhanced collection efficiency. The cash return on equity also saw an improvement, reaching 20.1%.
As of Friday morning, ACME shares were trading at ₹291.05 on the NSE, down 2.51% for the day, giving the company a market capitalization of approximately ₹17,634 crore.
Published on May 8, 2026.
