Slides
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Earnings Presentation – FY2025 May 2025 ACME Solar Holdings Limited
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2 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 particular person and is not and nothing in it shall be construed as an invitation, offer, solicitation, recommendation or advertisement in respect of the purchase or sale of any securities of the Company or any affiliates in any jurisdiction or as an inducement to enter into investment activity and no part of it shall form the basis of or be relied upon in connection with any contract or commitment or investment decision whatsoever. This Presentation does not take into account, nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. This Presentation and its contents are confidential and proprietary to the Company and/or its affiliates and no part of it or its subject matter be used, reproduced, copied, distributed, shared, or disseminated, directly or indirectly, to any other person or published in whole or in part for any purpose, in any manner whatsoever. The information contained in this Presentation is a general background information of the Company and its affiliates. We don’t assume responsibility to publicly amend, modify or revise any information contained in this Presentation on the basis of any subsequent development, information or events, or otherwise. This Presentation should not be considered as a recommendation to any investor to subscribe to any security. This Presentation may include certain statements that are, or may be deemed to be, “forward-looking statements” and relate to the Company, its affiliates and its financial position, business strategy, events and courses of action. Forward-looking statements and financial projections are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements and financial projections. Forward-looking statements and financial projections include, among other things, statements about: our expectations regarding our expenses, sales and operations; our future customer concentration; our anticipated cash needs, our estimates regarding our capital requirements, our need for additional financing; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy, future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts in the Presentation, if any, are correct or that any objectives specified herein will be achieved. We, or any of our affiliates, shareholders, directors, employees, or advisors, as such, make no representations or warranties, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein and accept no liability whatsoever for any loss, howsoever, arising from any use or reliance on this Presentation or its contents or otherwise arising in connection therewith. The information contained herein is subject to change without any obligation to notify any person of such revisions or change and past performance is not indicative of future results. It is clarified that this Presentation is not intended to be a document or advertisement offering for subscription or sale of any securities or inviting offers or invitations to offer or solicitation to offer from the public (including any section thereof) or any class of investors. This document has not been and will not be reviewed or approved by a regulatory authority in India or by any stock exchange in India. No rights or obligations of any nature are created or shall be deemed to be created by the contents of this Presentation.
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3 Agenda Business & Operational Highlights Financial Highlights Company Overview Project Details Annexure
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Key Highlights Q4 & FY25 1. Q4 FY24 reported PAT has been adjusted to remove the impact of consideration from sale of 369 MW assets and associated tax 2. Includes debt amounting to ~INR 3,380 Cr sanctioned in FY25 which has not been availed yet Image source: ACME ISTS Project ✓ 1200 MW solar projects commissioned during the year; Additional 165 MW solar capacity commissioned in May’25, ▲101.9% from FY24 ✓ 1,900 MW projects won during the year resulting in total portfolio of 6,970 MW ✓ 1,890 MW of PPAs signed during the year ✓ Generated CUF of 25.6%, 4,013 MUs generated ▲55.2% from FY24 ✓ Balance sheet strengthening via equity raise improving net debt-to-net worth to 1.7x ✓ INR 7,700 Cr2 refinanced debt tied up resulting in ~75 bps debt cost reduction for refinanced projects ✓ Credit rating upgraded to CRISIL A+/ Positive ✓ Declared interim dividend of INR 0.20/share for FY25 TOTAL REVENUE (INR Cr) - Q4FY25 69.5% y-o-yINR 539 Cr PAT (INR Cr) - Q4FY25 INR 122 Cr 118.3% y-o-yINR 488 Cr EBITDA (INR Cr) - Q4FY25 CASH PAT (INR Cr) - Q4FY25 NA y-o-yINR 238 Cr NA y-o-y1 Highlights for the year
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Business & Operational Highlights Image source: ACME ISTS Project
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66 Business Highlights (1/3) FDRE: Firm and Dispatchable Renewable Energy 1,340 MW 2,705 MW Mar'24 May'25 Operational Capacity 102% Portfolio Split (6,970 MW) ✓ 1,200 MW (1.8 GWp) SECI ISTS projects fully commissioned during the year ✓ 450 MW projects in advanced stages of construction with status as below: o 165 MW/300 MW commissioned in Acme Sikar, balance capacity under commissioning o Acme Pokhran 50 MW under commissioning & Eco Clean 100 MW under advanced stages of construction ✓ Operational capacity stands at 2,705 MW, up 101.9% from FY24 ✓ 1,900 MW capacity won in FY25 till date taking the total contracted portfolio to 6,970 MW o FDRE: 1,000 MW o Solar: 600 MW o Hybrid: 300 MW ✓ PPA signed for 2,175 MW out of Under Construction (UC) capacity of 4,265 MW ✓ Tariff adopted/ Order reserved for 3,865 MW of UC capacity (4,265 MW) ✓ Grid connectivity in place for entire portfolio ✓ Additional connectivity (applied + secured) of ~2,500 MW available for future bids Orderbook Built Capacity Addition PPAs Signed & Grid Connectivity Solar 49% FDRE, Hybrid & Others 49% Wind Tariff Adopted/ Order Reserved for ~91% of UC Capacity 100% Grid Connectivity Secured
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77 Business Highlights (2/3) 1. Includes debt amounting to ~INR 3,380 Cr sanctioned in FY25 which has not been availed yet 2. Provisional rating received 3. Provisional rating received (across multiple SPVs) Reduction of average ~75 bps interest rates for refinanced projects ✓ Debt tied-up for 1,700 MW of UC Capacity to the tune of INR 16,500 Cr ✓ INR 7,700 Cr1 refinanced debt tied up at an average interest rate of ~8.8% p.a. for operational projects, which would result in: o ~75 bps average debt cost reduction for refinanced projects Financing Update Credit Rating Upgrade ✓ Acme Solar Holdings Ltd upgraded to CRISIL A+/ Positive in Feb’25 ✓ Acme Dhaulpur 300 MW (central offtaker) received rating as CRISIL AA-/Stable in Apr’25 ✓ Acme Aklera 250 MW (central offtaker) upgraded to ICRA A+/Stable2 in Apr’25 ✓ Acme’s 190 MW (state offtakers) solar projects upgraded to CRISIL A-/Stable3 in Mar’25 ✓ Acme’s 450 MW (central + state offtakers) solar projects upgraded to CARE AA-/Stable3 in Nov’24 Credit Rating Update ✓ Balance sheet strengthening via equity raise leading to networth of INR 4,509 Cr and improving net debt-to-net worth ratio to 1.7x. ✓ Declared interim dividend at INR 0.20/share Balance Sheet Strength CRISIL A+/ Positive Feb’25 2,591 4,509 FY24 FY25 Net Worth (INR Cr)
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88 Commitment secured for long lead items of Under Construction capacity: ✓ Battery Energy Storage System (3,600 MWh) ✓ Power Conversion System (1,300 MW) ✓ Price and currency locked in for imported equipment ✓ Orders in place for GIS (~1,700 MW): Adoption of GIS instead of AIS as it is more reliable, easy maintenance & saves space. ✓ Transmission Lines (~130 km) ✓ Power transformers (~1,700 MW) ✓ Wind turbines (450 MW) Under Construction projects contracts update Near Commissioning projects update Acme Sikar 300 MW Solar Project o 165 MW/300 MW commissioned Acme Sikar solar project, balance capacity under commissioning Acme Pokhran 50 MW Wind Project o Acme Pokhran 50 MW under commissioning GIS: Gas Insulated Substation; AIS: Air Insulated Substation Business Highlights (3/3)
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99 2,540 MW 2,540 MW 2,990 MW 4,880 MW 10,000 MW 450 MW 1,890 MW 2,090 MW Operational Portfolio FY25 Near Commissioning Projects PPA Signed Projects LoA Awarded Projects Target Capacity Target to have a portfolio of 10 GW capacity by 2030 Run-Rate Annual Project EBITDA1: ~ INR 1,750 - 1,800 Cr Pre-tax ROCE1: 14.5% 1. Pre-tax ROCE calculated as: Run Rate EBITDA/Gross Block. Expected Annual Run-Rate EBITDA calculated basis full and steady operations of 2,540 MW of capacity and does not include any Holdco. expenses. Gross Block calculated as: Gross block less EPC margin realized Capacity Roadmap Locked-in projects 40% CAGR 6,970 MW by FY27/28E 2,540 MW 165 MW commissioned in May’25
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1010 23.6% 25.6% Operational Highlights Generation (in Million Units) Capacity Utilization Factor (CUF %) FY24 FY25 1. The Operational Highlights for FY24 have been adjusted for 369 MW assets monetised in Q4 FY24 to enable a like-to-like comparison with FY25. Power generation was up by 55.2% driven by capacity addition of solar 1,200 MW ISTS projects in Rajasthan and higher CUF 2,586 4,013 In Q4 FY25, Rajasthan-based operational assets with 1,950 MW contracted capacity delivered an average CUF of 29.4% 55.2% 99.4% 99.5% Grid Availability % Plant Availability % FY24 FY25 99.4% 99.8% Operational Highlights (Like to like comparison)1
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Financial Highlights Image source: ACME ISTS Project
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1212 220 559 FY24 FY25 64 251 FY24 FY25 1,191 1,575 FY24 FY25 981 1,406 FY24 FY25 Consolidated Financials Highlights – FY25 Y-o-Y 1. 369 MW of operational assets were monetized in FY24 which contributed INR 276 Cr to the Total Revenue in FY24. For like-to-like periodic comparison with FY25, the financials of FY24 have been adjusted to factor the impact of monetized assets. 2. FY24 reported PAT has been adjusted to remove the impact of consideration from sale of 369 MW assets and associated tax 3. Cash PAT has been computed as PAT+ Depreciation +/(-) Exceptional items 1,466 1,575 FY24 FY25 TOTAL REVENUE 7.4% 1,236 1,406 FY24 FY25 EBITDA 13.7% 109 251 FY24 FY25 PAT ▪ Revenue increased by 7.4% y-o-y, driven by a 1,200 MW capacity addition in Q4 FY25 and was partially offset by divestment of 369 MW of assets. o Adjusted for 369 MW monetized assets, Revenue has increased by 32.3% ▪ Healthy EBITDA margin of 89.2% in FY25 compared to 84.3% in FY24 on the back of favourable operating leverage and optimized operational efficiency. ▪ PAT margin stood at 15.9% in FY25. The one-time exceptional item in FY24 amounting to INR 749 Cr majorly relates to gain from sale of assets. More details related to monetized asset financial adjustment in Slide #29 Remarks on Reported Financials: (Adj) (Adj) (Adj) 257 559 FY24 FY25 117.4% TOTAL REVENUE EBITDA PAT CASH PAT3 289.6% 43.3% 154.5% 32.3% 130.7% 2 CASH PAT3 Key Consolidated Financials as Reported (INR Cr) Key Consolidated Financials – Like-to-Like Asset Basis (INR Cr)1
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1313 -52 122Q4 FY25 (Adj)Q4 FY24 Consolidated Financials Highlights – Q4 FY25 Y-o-Y 1. 369 MW of operational assets were monetized in Q4FY24 which contributed INR 6 Cr to Total Revenue in Q4FY24. For like-to-like periodic comparison with Q4FY25, the financials of Q4FY24 have been adjusted to factor the impact of monetized assets 2. Q4 FY24 reported PAT has been adjusted to remove the impact of consideration from sale of 369 MW assets and associated tax 3. Cash PAT has been computed as PAT+ Depreciation +/(-) Exceptional items 318 539 Q4 FY24 Q4 FY25 69.5% NA 313 539 Q4 FY24 Q4 FY25 72.5% 223 488 Q4 FY24 Q4 FY25 118.8% 3,403.4% 7 238 Q4 FY24 Q4 FY25 (Adj) (Adj) (Adj) TOTAL REVENUE EBITDA PAT CASH PAT3 224 488 Q4 FY24 Q4 FY25 118.3% -57 122Q4 FY25 Q4 FY242 NA -103 238Q4 FY25 Q4 FY24 NA PAT TOTAL REVENUE EBITDA CASH PAT3 ▪ Revenue increased by 69.5% for the quarter (y-o-y basis), driven by capacity addition of 1200 MW ▪ Healthy EBITDA margin of 90.5% in Q4 FY25 ▪ PAT margin stood at 22.6% in Q4 FY25. The one-time exceptional item in Q4 FY24 amounting to INR 696 Cr majorly relates to gain from sale of assets. More details related to monetized asset financial adjustment in Slide #29Remarks on Reported Financials: Key Consolidated Financials as Reported (INR Cr) Key Consolidated Financials – Like-to-Like Asset Basis (INR Cr)1
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1414 Financial Highlights – FY25 ❖ At Consolidated level, Operational Revenue is reflected only from Sale of Electricity while EPC Revenue gets eliminated due to inter-group nature. ❖ At Standalone level, the financials represent the EPC Revenue for performing EPC for its wholly owned subsidiaries. 1. Cash PAT has been computed as PAT+ Depreciation +/(-) Exceptional items. 188 189 428 1,512 Cash PAT PAT EBITDA Total Revenue Key Standalone Financials (FY25) 559 251 1,406 1,575 Cash PAT PAT EBITDA Total Revenue Key Consolidated Financials (FY25) 1 1 EBITDA Margin: 89% EBITDA Margin: 28% Standalone Overview (In-house EPC Business) INR Cr Key Financials Consolidated Overview (Sale of Power) INR Cr Breakdown of Financials
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1515 Gross Block, 8,562 Gross Block, 14,144 CWIP, 2,828 CWIP, 1,362 11,390 15,507 FY 2024 FY 2025 Asset Base and Capital Structure Net Debt, 6,753 Net Debt, 7,507 Cash, 1,465 Cash, 2,9168,218 10,423 FY 2024 FY 2025 Asset Base (INR Cr) Gross Debt (INR Cr) ❖ INR 4,116 Cr of asset base added during FY25 to reach INR 15,507 Cr ❖ Balance sheet strengthening via equity raise leading to net worth of INR 4,509 Cr 2,591 4,509 FY 2024 FY 2025 Net Worth (INR Cr)
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1616 1,236 1,406 FY24 FY25 2.6 1.7 FY24 FY25 Other Financial Highlights 5,413 6,232 1,339 1,275 6,753 7,507 FY24 FY25 Operational Net Debt CWIP Net Debt 11.4% 15.7% FY24 FY25 1. Net Debt is computed as Gross Debt less Cash and Cash Equivalents, Other Bank Balances and Short -term investments. Operational a nd CWIP Net Debt is associated with Net debt of Operational and Under Construction projects respectively. 2. Computed on annual TTM EBITDA and Operational Net Debt 3. Computed as Net Debt/ Closing Net Worth 4. Computed as Cash PAT divided by average net worth as of the beginning and closing of the financial year. Net Debt/Run-Rate EBITDA targeted to be under ~5.5x on operational portfolio basis 4.4x 4.4x Net Debt/ EBITDA EBITDA (INR Cr) Cash RoE4 (%) Net Debt to Net Worth3 Net Debt (INR Cr)1 Net Debt to EBITDA2
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1717 Continued Improvement in Days of Sales O/S 218 181 93 42 * FY22 FY23 FY24 FY25 DSO (as Billed) as of FY251 1. Days of Sales O/s calculated as Trade receivables excluding unbilled revenue divided by Revenue from Operations excluding unbilled revenue times number of days in the relevant period. • There has been a continuous improvement in DSO days • 51% of trade receivables (as billed) as on FY25 are due to AP discoms representing ~6% of operational capacity as of FY25 *Calculation of DSO as of FY25 excludes INR 49 Cr of O/S dues from AP discom which shall be recovered in 5 EMIs as per APERC ruling in favour of the project company. 7 out of 12 instalments have been received to the tune of INR 65 Cr. DSO (as Billed) would be 56 days if INR 49 Cr related to the AP dues are included in receivables for FY25 State Offtakers 63% Central Offtakers 37% FY2024 Offtaker Split State Offtakers 33% Central Offtakers 67% FY2025 Offtaker Split Share of Central Offtakers has increased substantially from FY24 to FY25 which is expected to further reduce DSO days Operational Portfolio Operational Portfolio
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Company Overview Image source: ACME ISTS Project
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1919 Non-Institutional Investors 4.75% Institutional Investors 11.83% Promoter Group 83.41% ACME Solar One of the Largest Renewable Energy IPPs in India CRISIL A+/ Positive Feb’25 About the Company Portfolio of 6,970 MW spanning across solar, wind, hybrid & FDRE projects Long Term Stable Cashflows: Contracted through 25 yrs PPAs with government backed entities at fixed tariffs 1. As on 31st March 2025 IPP: Independent Power Producer; PPA: Power Purchase Agreement; FDRE: Firm and Dispatchable Renewable Energy Technological Advancements: Early adopter of technology to optimize power generation and operational efficiency Diversified Source of Funding: Strong relationship with institutional investors and lenders across the globe In-House EPC and O&M Capabilities: Enabling to control processes, costs & timelines & flexibility in terms of technology and suppliers. Shareholding Pattern1 Credit Rating - ASHL Top Shareholders
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2020 Portfolio with Strong Offtakers located at Strategic Locations 1. Central comprising of offtakers as SECI, NTPC, SJVN, NHPC and merchant plant. Merchant plant (Acme Sikar) is planned to be operated under the newly won SECI bid (subject to PPA signing). State offtakers 14% Central offtakers1 86% Solar 49% FDRE, Hybrid & Others 49% Wind 2% Operational, 2,705 MW PPA Signed, 2,175 MW LOA Awarded, 2,090 MW Under Construction, 4,265 MW Diversified portfolio with ~ 85% of the portfolio contracted with central offtakers spanning across new age technologies like FDRE and Hybrid Majority of operational portfolio located at high resource potential states Operational INR 3.4/KWh Under Construction INR 3.9/KWh Weighted Average Tariff 990 MW 5,980 MW 6,970 MW Leveraging our geographical presence expertise and capabilities for future growth momentum
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2121 Awards and Recognitions Honored with the Certificate of Appreciation at Rising Rajasthan on successful completion of ISTS 1,200 MW project in Jaisalmer. Large Scale Solar Project Developer of the Year for Karnataka to Acme Sidlaghatta Solar Energy Private Limited. Awarded ”Industrial Safety Leadership Award’ to Viswatma Solar Energy Private Limited by CII Andhra Pradesh.
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Project Details Image source: ACME ISTS Project
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2323 Operational Portfolio Overview (1/2) Name of Project SPV(s) State Type Capacity (in MW) Off-taker Tariff (INR/kWh) COD PPA Tenor (years) Acme Solar Technologies (Gujarat) Private Limited Gujarat Solar 15 GUVNL First 12 years - 15.00 Next 13 years - 5.00 Mar-12 25 Acme Solar Energy MP Private Limited Madhya Pradesh Solar 25 MPPMCL 8.05 Phase I (10MW) - December 2013 Phase II (15MW) - January 2014 25 Acme Odisha Solar Power Private Limited Odisha Solar 25 GRIDCO 7.28 Jun-15 25 Acme Raipur Solar Power Private Limited Chhattisgarh Solar 30 CSPDCL 6.46 Phase I (23 MW) - January 2016 Phase II (7MW) - March 2016 25 Acme Solar Rooftop Systems Private Limited Punjab Solar 30 PSPCL 7.57 May-16 25 Aarohi Solar Power Private Limited Andhra Pradesh Solar 50 APSPDCL 5.63[1] Mar-16 25 Acme Jaisalmer Solar Power Private Limited Solar 20 APSPDCL 5.63[1] May-16 25 Dayanidhi Solar Power Private Limited Solar 40 APSPDCL 5.97[1] Apr-16 25 Niranjana Solar Power Private Limited Solar 20 APSPDCL 5.71[1] Mar-16 25 Viswatma Solar Energy Private Limited Solar 30 APSPDCL 5.71[1] Apr-16 25 Acme Magadh Solar Power Private Limited Bihar Solar 10 SBPDCL and NBPDCL 8.73 Jun-16 25 Acme Nalanda Solar Power Private Limited Solar 15 SBPDCL and NBPDCL 8.73 Jun-16 25 Dayakara Solar Power Private Limited Telangana Solar 30 TSSPDCL 6.848 Phase I (14 MW) June 2016 Phase II (16 MW) July 2016 25 Grahati Solar Power Private Limited Solar 50 TSSPDCL 6.737 Phase I (20 MW) July 2016 Phase II (30 MW) August 2016 25 Acme PV Powertech Private Limited Solar 50 TSNPDCL 5.595 Phase I (40 MW) July 2017 Phase II (10 MW) August 2017 25 Acme Solar Power Technology Private Limited Solar 50 TSNPDCL 5.59 Feb-18 25 Acme Yamunanagar Solar Power Private Limited Solar 20 NTPC 4.67 Sep-17 25 Acme Mahbubnagar Solar Energy Private Limited Solar 30 NTPC 4.67 Sep-17 25 Nirosha Power Private Limited Uttar Pradesh Solar 30 UPPCL 8.93 Sep-16 12 (renewable for another 13 years) Acme Sidlaghatta Solar Energy Private Limited Karnataka Solar 20 BESCOM 2.97 Oct-19 25 1. For Andhra Pradesh plants, there is an annual escalation of 3% in tariff till the 10th year from the date of the PPA and it will remain constant after that for the remainder term of the PPA.
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2424 Operational Portfolio Overview (2/2) Name of Project SPV(s) State Type Capacity (in MW) Off-taker Tariff (INR/kWh) COD PPA Tenor (years) Acme Jodhpur Solar Power Private . Limited Rajasthan Solar 100 SECI 2.44 Sep-18 25 Acme Rewa Solar Power Private Limited Solar 100 SECI 2.44 Oct-18 25 Acme Heergarh Powertech Private Limited Solar 300 MSEDCL 2.74 Phase I (100 MW) April 2022 Phase II (200 MW) May 2022 25 Acme Aklera Power Technology Private Limited Solar 250 SECI 2.48 Phase I (200 MW) July 2023 Phase II (50 MW) January 2024 25 Acme Raisar Solar Energy Private Limited Rajasthan Solar 300 SECI 2.44 Phase I (272 MW): December 2024 Phase II (28 MW): January 2025 25 Acme Dhaulpur Powertech Private Limited Rajasthan Solar 300 SECI 2.44 Phase I (238 MW): December 2024 Phase II (62 MW): January 2025 25 Acme Deoghar Solar Power Private Limited Rajasthan Solar 300 SECI 2.44 Phase I (253 MW): December 2024 Phase II (47 MW): January 2025 25 Acme Phalodi Solar Energy Private Limited Rajasthan Solar 300 SECI 2.44 Phase I (260.05 MW): December 2024 Phase II (39.95 MW): January 2025 25 Acme Sikar Solar Private Limited1 Rajasthan Solar 165 SECI 3.05 Phase I: May 2025 25 Total (A) 2,705 3.4 1. Merchant plant (Acme Sikar) is planned to be operated under the newly won SECI bid subject to PPA signing. The tariff adoption of INR 3.05/KWh has been reserved for order as of 8th April 2025. 165 MW relates to first phase commissioning of the plant.
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2525 Under Construction Portfolio Overview (1/2) Project Name Type Contracted Capacity (MW) Off-taker Tariff (INR/kWh) PPA Tenor (years) Acme Pokhran Solar Private Limited Wind 50 GUVNL 2.90 25 Acme Eco Clean Energy Private Limited Wind 100 GUVNL 3.01 25 Acme Surya Power Private Limited FDRE 250 SJVN 4.38 25 Acme Sun Power Private Limited FDRE 320 SJVN 4.38 25 Acme Urja One Private Limited FDRE 380 SECI 4.73 25 Acme Renewtech Private Limited Hybrid 300 NTPC 3.36 25 Acme Platinum Urja Private Limited FDRE 350 SECI 3.42 25 Acme Venus Urja Private Limited FDRE 400 NHPC 4.64 25 Acme Hybrid Urja Private Limited FDRE 280 NHPC 4.64 25 Acme Alpha Renewables Private Limited Hybrid 150 NTPC 3.32 25 Acme Sigma Urja Private Limited Solar 300 NTPC 2.53 25 Acme Omega Urja Private Limited Solar 300 SJVN 2.52 25 Acme Renewtech Second Private Limited Hybrid 300 SECI 3.25 25 Acme Marigold Urja Private Limited FDRE 400 NTPC 4.70 25 Acme Sikar Solar Private Limited1 Solar 135 - - - Acme Renewtech Fifth Private Limited FDRE 250 NHPC 4.56 25 Total (B) - 4,265 - 3.92 - 1. Merchant plant (Acme Sikar) is planned to be operated under the newly won SECI bid subject to PPA signing. The tariff adoption of INR 3.05/KWh has been reserved for order as of 8th April 2025. 2. Weighted average tariff calculated using contracted capacity (MW).
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2626 Under Construction Portfolio Overview (2/2) Project Name Type Contracted Capacity (MW) Off-taker PPA Status Debt Tied Up Tariff Adoption Grid Connectivity Acme Pokhran Solar Private Limited Wind 50 GUVNL PPA signed ✓ Tariff adopted Secured Acme Eco Clean Energy Private Limited Wind 100 GUVNL PPA signed ✓ Tariff adopted Secured Acme Sikar Solar Private Limited1 Solar 135 - - ✓ - Secured Acme Surya Power Private Limited FDRE 250 SJVN PPA signed ✓ Tariff adopted Secured Acme Sun Power Private Limited FDRE 320 SJVN PPA signed ✓ Tariff adopted Secured Acme Urja One Private Limited FDRE 380 SECI PPA signed for 190 MW ✓ Tariff adopted Secured Acme Renewtech Private Limited Hybrid 300 NTPC PPA signed ✓ Tariff adopted Secured Acme Platinum Urja Private Limited FDRE 350 SECI PPA signed for 150 MW Under process Tariff adopted Secured Acme Venus Urja Private Limited FDRE 400 NHPC PPA signed Under process Order reserved Secured Acme Hybrid Urja Private Limited FDRE 280 NHPC PPA signed Under process Order reserved Secured Total (I) - - PPA signed - 2,175 MW 1. Merchant plant (Acme Sikar) is planned to be operated under the newly won SECI bid subject to PPA signing. The tariff adoption of INR 3.05/KWh has been reserved for order as of 8th April 2025. Project Name Type Contracted Capacity (MW) Off-taker PPA/ LOA Status Tariff Adoption Grid Connectivity Acme Urja One Private Limited FDRE 380 SECI PPA to be signed for 190 MW Tariff adopted Secured Acme Platinum Urja Private Limited FDRE 350 SECI PPA to be signed for 200 MW Tariff adopted Secured Acme Alpha Renewables Private Limited Hybrid 150 NTPC LOA awarded Tariff adopted Secured Acme Sigma Urja Private Limited Solar 300 NTPC LOA awarded Tariff adopted Applied Acme Omega Urja Private Limited Solar 300 SJVN LOA awarded Tariff adopted Applied Acme Renewtech Second Private Limited Hybrid 300 SECI LOA awarded Order reserved Secured Acme Marigold Urja Private Limited FDRE 400 NTPC LOA awarded Petition filed Secured Acme Renewtech Fifth Private Limited FDRE 250 NHPC LOA awarded Order reserved Secured Total (II) - - 2,090 MW I. PPA signed - Under Construction Portfolio II. PPA yet to be signed - Under Construction Portfolio
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Annexure Image source: ACME ISTS Project
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2828 Key Standalone and Consolidated Financials (Reported) ACME Standalone Overview (from In-house EPC Business)ACME Consolidated Overview (from Sale of Power) Particulars (INR Cr) FY25 FY24 Revenue from operations 1,405 1,319 Other income 170 147 Total Income 1,575 1,466 Employee benefits expense 65 59 Other expenses 105 171 Total expenses 170 230 EBITDA 1,406 1,236 Finance costs 759 767 Depreciation and amortisation expense 287 308 Profit before exceptional items 359 161 Exceptional items1 -21 749 Profit before Tax 338 909 Tax Expense 87 212 Profit after Tax (PAT) 251 698 Particulars (INR Cr) FY25 FY24 EPC Revenue 1,352 471 Other income 160 134 Total Income 1,512 604 Cost of materials consumed 908 440 Employee benefits expense 136 68 Other expenses 40 18 Total expenses 1,084 527 EBITDA 428 78 Finance costs 176 180 Depreciation and amortisation expense 0 0 Profit/ (loss) before exceptional items 252 -102 Exceptional items1 1 620 Profit before tax 253 518 Tax expense 64 99 Profit after Tax (PAT) 189 420 1. One-time exceptional item was recorded in FY24 at both the Standalone and Consolidated level, primarily on account of sale of assets.
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2929 Adjustments related to Monetized Assets in Consolidated Financials A = B + C B C Particulars (INR Cr) Reported Q4 FY24 Adjusted Q4 FY24 for comparison with Q4 FY25 Monetized Assets Q4 FY24 Power Sale Revenue (I) 295 290 5 Other Income (II) 23 22 1 Total Revenue (I + II) 318 313 6 EBITDA 224 223 1 PAT 532 (52) 584 Cash PAT (103) 7 (109) Particulars (INR Cr) Reported FY24 Adjusted FY24 for comparison with FY25 Monetized Assets FY24 Power Sale Revenue (I) 1,319 1,068 252 Other Income (II) 147 123 24 Total Revenue (I + II) 1,466 1,191 276 EBITDA 1,236 981 255 PAT 698 64 633 Cash PAT 257 220 37
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Thank You Image source: ACME ISTS Project Reach out to us: Investor Relations Email: investor.relations@acme.in Website: www.acmesolar.in