Interim report
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Leading Through Innovation ACME Solar Holdings Limited CIN: L40106HR2015PLC102129 Corporate Office: 4th, 6th to 8th Floor, Block A1, DLF World Tech Park, DLF IT SEZ Silokhera, Sector 30, Gurugram, Haryana 122001 India Tel: +91-124-4507100 Fax: +91-124-7117001 Regd. Office: Plot No .152, Sector-44, Gurugram 122002, Haryana, India Tel: +91-124-7117000 Fax: +91-124-7117001 Email: cs.acme@acme.in; Website: www.acmesolar.in; October 28, 2026 To To BSE Limited National Stock Exchange of India Ltd Corporate Relationship Dept., Corporate Relationship Dept., Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Mumbai 400001 Bandra-Kurla Complex, Bandra (East), Mumbai 400 051 Scrip Code: 544283 Symbol: ACMESOLAR Ref: Regulations 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Sub: Outcome of the meeting of the Board of Directors of ACME Solar Holdings Limited held on October 28, 2026 Dear Sir/Madam, Pursuant to Regulations 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”), we hereby inform you that a meeting of the Board of Directors of ACME Solar Holdings Limited (“the Company”) was held today, i.e., on Wednesday, October 28, 2026, wherein the Board inter alia considered and approved the following: 1) Un-audited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026: Approved the Un -audited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026, as reviewed and recommended by the Audit Committee, and took on record the Limited Review Report thereon issued by the Joint Statutory Auditors of the Company. In terms of Regulation 33 of the SEBI Listing Regulations, the aforesaid financial results, together with the Limited Review Report thereon, are enclosed herewith as Annexure I.
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Leading Through Innovation ACME Solar Holdings Limited CIN: L40106HR2015PLC102129 Corporate Office: 4th, 6th to 8th Floor, Block A1, DLF World Tech Park, DLF IT SEZ Silokhera, Sector 30, Gurugram, Haryana 122001 India Tel: +91-124-4507100 Fax: +91-124-7117001 Regd. Office: Plot No .152, Sector-44, Gurugram 122002, Haryana, India Tel: +91-124-7117000 Fax: +91-124-7117001 Email: cs.acme@acme.in; Website: www.acmesolar.in; 2) Appointment of M/s Grant Thornton Bharat LLP, as Internal Auditor of the Company: Pursuant to Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014, and based on the recommendation of the Audit Committee, the Board approved the appointment of M/s Grant Thornton Bharat LLP as the Internal Audito r of the Company for a period of 18 months, effective from October 01, 2026 to March 31, 2028, covering the financial years 2026–27 and 2027–28. The details as required under the SEBI Listing Regulations read with the SEBI Master Circular bearing No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, in relation to the appointment of the Internal Auditor are enclosed as Annexure II. Further, the said Financial Results are being made available on the Company’s website at www.acmesolar.in and will be published in newspapers as required under the SEBI Listing Regulations. The Board Meeting commenced at 07:01 P.M. (IST) and concluded at 07: 17 P.M. (IST). This is for your information and record. Thanking you, For ACME Solar Holdings Limited Rajesh Sodhi Company Secretary and Compliance Officer Encl: As stated
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BS R & Co . LLP Chartered Accountants Building No.10 , 12th Floor, Tower -C, DLF Cybe r C ity , Phase -II, Gurugram .- 122 002, India A Prasad & Assoc iates Chartered Accountants Uni t No . B1, Plot No . B9, Secto r-3, Pinnacle Bus ines s Park Gau tam Budh Nagar , UP-201301 Limited Review Report on unaudited standalone financial results of ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of ,India (Listing Ob ligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of ACME Solar Holdings Limited (formerly known as ACME Solar Ho ldings Pr ivate Lim ited) 1. We have reviewed the accompanying Statement of unaudited standalone financial results of ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) (hereinafter referred to as "the Company") for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Sta tement") . 2. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting " ("Ind AS 34 "), prescribed under Section 133 of the Companies Act , 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations , 2015, as amended ("Listing Regulations") . Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity ", issued by the Institute of Chartered Accountants of India . A review of interim financial information consists of making inquiries , primarily of persons responsible for financial and accounting matters , and applying analyt ical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion . 4. Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting princ iples generally accepted in India , has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing f3egulations, including the manner in wh ich it is to be disclosed, or that it contains any material m isstatement. Annexure I
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BS R & Co . LLP A Prasad & Assoc iates Limited Review Report (Continued) ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) 5. The standalone financial ' results of the Company for the year ended 31 March 2026 were jointly audited by one of the joint auditors along with predecessor auditors, who expressed an unmodified opinion on those financial results vide their audit report dated 07 May 2026 . Further, the unaudited standalone financial results of the Company for the corresponding quarter ended 30 June 2026, 30 September 2025 and the corresponding period from 1 April 2025 to 30 September 2025 were jointly reviewed by one of the joint auditors along with predecessor auditors who expressed an unmodified conclusion vide their respective reports dated 29 July 2026 and 03 November 2025 . Gurugram 28 October 2026 Gurugram 28 October 2026 For 8 S R & Co. LLP Chartered Accountants Firm's Registration No.: 101248W/W-100022 ~ David Jones Partner Membership No. : 098113 UDIN: 26098113HJDBBD9437 For A Prasad & Associates Chartered Accountants Firm's Registration No.: 004250C lsha Baidya Partner Membership No. : 430264 UDIN: 26430264UKKYAE3271
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~ ~E: Leading Through Innovation ACME Solar Hold in gs Limited (form erly known as ACME Solar Holdings Private Limited) Stat emen t of Unaudited Stand alone Financial Re sult s for th e quart er and six month per iod ended 30 September 2026 (A ll a,11011 11/s in Rs. 111il/io11 1111/ ess othe 1wise slated) S.No . Particulars Quarter end ed Six months per iod en ded Year end ed 30 Se pt ember 2026 30 June 2026 30 September 2025 30 Sep tember 2026 30 Sep temb er 2025 31 Marc h 2026 Unaudited Una udited Unaudited Una udit ed Una udit ed Au dited I Revenue from operations (a) Revenue from EPC Contracts 32,883 .24 22,413.46 3,045 .74 55,296 .70 5,7 16.09 38 ,225 .80 (b) Reven ue from O&M Services 247 .84 249 .38 276 .94 497.2 2 433 . 17 879.50 (c) Other Operaling Revenue 0.22 1.63 0.22 1.63 4.20 Total revenue from operations ((a)+(b) +(c)) 33,131.0 8 22,663.06 3,324 .3 1 55,794.14 6,150 .89 39,109.50 II Other income 1,12 6.23 919 .69 1,330 .42 2,045 .92 2,143.69 4,463 .37 III Total Income (I+IT) 34,257.31 23,582.75 4,654.73 57,840.06 8,294 .58 43,572.87 ( JV Expenses (a) Construction expenses 28,843 .17 1°9 ,830 .16 2,608 .21 48,673 .33 4,825 .91 32,394 .14 (b) Emp loyee benefit s expense 813 .83 805 .46 610 .66 1,619 .29 1,204 .17 2,544.45 (c) Other expe nse s 28 7.66 324.47 373.86 612 .13 590 .12 I, 198 .57 Total expenses ((a)+(b)+(c)) 29,944.66 20,960.09 3,592.73 50,904 .75 6,620.20 36,137.16 \ V Profit before finance cost, depreciation and amortisation expenses, taxes 4,312.65 2,622.66 1,062.00 6,935.31 1,674 .38 7,435.71 and exceptional items ((IIl)-(IV)) VI Finance costs 1,046 .97 966.12 675.47 2,013 .09 1,276 .07 3,030.99 vn Depreciation and amo rti satio n expense 38 .79 25 .98 0.94 64.77 1.83 5.30 VIII Profit before taxes and exceptional items (V -V I-VII) 3,226 .89 1,630 .56 385.59 4,857.45 396 .48 4,399.42 LX Excep tional items (refer note 5) 24 .17 24. 17 167 .56 X Profit before tax (VIII+IX) 3,226.89 1,63 0.56 409 .76 4,857 .45 420.65 4,566.98 : XI Tax expense: (a) Current tax 827 .80 419 .71 29 .29 1,247 .51 39 .50 1,059.39 (b) Deferred tax (13.49) (6 18) 68 .25 (19 .67) 60 .80 106 .01 To tal tax expense ((a)+(b)) 814 .31 413.53 97.54 1,227. 84 100.30 1,165.40 XII Profit for the period/year (X-XJ)" 2,412.58 1,217.03 312.22 3,629 .61 320 .35 3,401.58 XIII Other com preh ensive income A Items that will not be reclassified to profit or los s (a) Re-m eas urem ent gain/( loss) on defined benefit plans (19 .69) (5 .93) (4 .39) (19 .69) (0 .63) 6.76 (b) Income tax effect 4.96 1.49 1.11 4.96 0.16 (1.70) B Items 11ml will be reclassifi ed to profit or loss (a) Net movement of cash flow hedges 297 .01 78 .14 (33 .13) 297 .01 (b) Income tax effect (74 .75) (19 .67) 8.34 (74 .75) Other comprehensive income/(loss) (n et of tax) (A+ B) 207.53 54.03 (28 .07) 207.53 (0.47) 5.06 XIV Total comprehensive income for the perio d/ year (XIl+ XIIJ) 2,620.11 1,271.06 284.15 3,837.14 319 .88 3,406.64 \ xv Paid-up equity share capital (face value of Rs. 2/- per equity share) 1,411.97 1,411. 24 1,210.18 1,411.97 1,210 .18 1,210. 78 XVI Other equit y 48 ,305 .15 XVII Earnings per share (EPS) -face value of Rs. 2/- each* Basic (in Rs) 3.60 1.92 0.52 5.4 1 0.53 5.62 Diluted (in Rs) 3.37 1.90 0.51 5.34 0.52 5.56 • No t been a,111110/ised excev t for war ended 31 Marc h 2026
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ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) Statement of Unaudited Standalone Assets and Liabilities (All amounts in Rs. million, unless othen11ise stated) S.No . Particulars As at 30 September 2026 As at 31 March 2026 Unaudited Audited A ASSETS 1 Non-current assets Property, plant and equipment 121 .63 64 .07 Right-of-use assets 541.49 - Capital work-in-progress 31.27 12 .51 Financial assets (i) Investments 1,24,140 .30 69 ,954 .56 (ii) Loans (ii) Other financial assets 445.86 2,846 .36 Non-current tax assets (net) Other non current assets 125 .84 922 .16 Total non-current assets 1,25,406.39 73,799.66 i 2 Current assets Inventories 910.64 953.82 Financial assets (i) Trade receivables 15 ,891.72 6,151 .32 (ii) Cash and cash equivalents 4,102 .67 14,453.28 (iii) Bank balance other than cash and cash equivalents 33,342.35 14 ,200.48 (iv) Loans 10,161.94 5,669.43 (v) Other financial assets 9,865 .56 9,745 .32 Other current assets 12 ,927 .98 4,449 .70 Total current assets 87,202.86 55,623.35 / Total Assets 2,12,609.25 1,29,423.01 B EQUITY AND LIABILITIES 1 Equity Equity share capital 1,411.97 1,210 .78 Other equity 79,706 .91 48 ,305 .15 Total equity 81,118.88 49,515.93 i 2 Non-current liabilities Financial liabilities (i) Long term borrowings 33 ,607 .38 36,094 .80 (ii) Lease liabilities 399 .28 - Provisions 153.14 94.83 Deferred tax liabilities (net) 151.38 101.26 Total non-current liabilities 34,311.18 36,290.89 ! 3 Current liabilities Financial liabilities (i) Short term borrowings 18,126 .65 6,503 .25 (ii) Lease liabilities 139 .89 - (iii) Trade payables Total outstanding dues of micro enterprises and small enterprises 214 .60 250.19 Total outstanding dues of creditors other than micro enterprises and small enterprises 6,624 .02 4,758.24 (iv) Other financial liabilities 8,579 .58 5,251 .31 Other current liabilities 63,211.63 26,509.97 Provisions 26 .53 16.74 Current tax liabilities (net) 256 .29 326.49 Total current liabilities 97,179.19 43,616.19 Total Liabilities 1,31,490.37 79,907.08 Total Equity and Liabilities 2,12,609.25 1,29,423.01 ··········· -... ··"-·
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ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) Standalone Statement of Unaudited Cash Flows for the six months period ended 30 September 2026 In Rs. million unless otherwise stated For the six months period For the six months period Particulars ended 30 September 2026 ended 30 September 2025 Unaudited . Unaudited CASH FLOWS FROM OPERA TING ACTIVITIES Profit before tax 4,857.45 420.65 Adjustments for: Depreciation expen se 64 .77 1.83 Finance co sts 2,013 .09 1,276 .07 Interest income (2 ,037 .98) (1 ,585 .87) Contingent consideration related to investment disposed in earlier years (24.17) Gain on derivatives instruments marked to market (6 .55) (284.15) Deferred consideration written off 147.29 Receivables written off 20 .60 Cost towards increase of authorized share capital 1.40 Loss on foreign exchange fluctuation (8 .31) (0 .03) Employee stock option expense 180 .28 22 4.27 Operating profit before working capital changes 5,084.75 175.89 Movement in working capital Change in inventories 43 .18 (247 .85) Change in trade receivables (9,740.40) (1 ,321.03) Change in other current and non-current financial assets (386 .09) (759.98) Change in other current and non-current assets (8 ,483 .28) (3 ,351.26) Change in trade payables 1,832 .78 (1 ,250.05) Change in other current and non-current financial liabilities 1,699.76 (778.08) Change in current and non-current provisions 48.41 24 .81 Change in other current and non-current liabilities 38,256 .46 5,935 .32 Cash flows generated fro_m/(used in) operating activities post working capital changes 28,355.57 (1,572.23) Income tax paid (net) (1 ,317.71) (259 .98) Cash flows generated from/(used in) operating activities (A) 27,037 .86 (1,832.21) CASH FLOWS FROM INVESTING ACTIVITIES Proceeds/ (payment) for purchase of property , plant and equipment (including capital work-in-progress, capital creditors and capital advanc 737 .82 (95 .37) Interest received from deposits and others 2,255 .93 357.05 Proceeds from contingent consideration related to investment disposed in earlier years 24.17 Investment in equity share capital of subsidiary company (35,646.10) (2,673 .17) Investment in compulsorily convertible debentures of subsidiary company (1 ,600 .00) (Investment in)/ maturity of fixed deposits (16 ,613 .29) (5,578 .07) Loans (given to)/received back from related parties (net) (23,041.15) 503.49 Net cash flows used in investing activities (B) (73,906.79) (7,461.90) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from equity share capital issued net of issue expenses 27 ,698 .65 Proceeds from long term borrowings 2,403 .11 7,486.48 Repayment of long term borrowings (4 ,758 .80) (240 .59) Proceeds from /(repayment of) short term borrowings (net) 11 ,599 .18 (421.37) Finance costs paid (376 .93) (142 .70) Payment oflease liabilities (including interest paid on lease liabilities Rs . 22 .23 million (30 Sep 2025 : Rs . 4.25 million) (46 .89) (5 .93) Dividend Paid (121.02) Net cash flows generated from financing activities (C) 36,518 .3 2 6,554.87 Decrease in cash and cash equivalents (A+B+C) (10 ,350 .61) (2,739 .24) Cash and cash equivalents at the beginning of the period 14 ,453.28 3,545.51 Cash and cash equivalents at the end of the period 4,102.67 806.27 dL
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ACME Solar Holdings Limited (formerly Imown as ACME Solar Holdings Private Limited) Notes to the Unaudited Standalone Financial Results for the quarter and six month period ended 30 September 2026 I. The above standalone financial results of ACME Solar Holdings Limited (Formerly known as ACME Solar Holdings Private Limited) ('the Company') for the quarter and period ended 30 September 2026 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 28 October 2026 . The Joint Statutory Auditors of the Holding Company have carried out limited review of these results and issued an unmodified opinion . 2 The above standalone financial results have been prepared in accordance with the recognition and meas urement principles of Indian Accounting Standard (referred to as "Ind AS") 34 -Interim Financial Reporting as notified under the Companies (Indian Accounting Standards) Rules , 2015 (as amended) specified under section I 33 of the Companies Act, 2013, other accounting principles generally accepted in India and in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended) . 3 The Company has issued JOO , 178,890 equity shares having face value of Rs. 2 each at Rs. 279.50 per equity share (including share premium of Rs. 277 50 per share) through Quali _fied Institutional Placement ("QIP"). The details of utilisation ofQIP proceeds of Rs . 27,629.04 million (net of issue expenses of Rs. 370 .96 million) is as follows: (Amounts in Rs . million) Objects of the Issue of Placement Document Amount to be utilised Amount utilised upto 30 Total amount unutilised (net) September 2026 as at 30 September 2026 Repayment I pre-payment, in part or in full, of certain outstanding borrowings 21,000.00 13,972.50 7,027 .50 availed by or sanctioned to the Company and certain of its Subsidiaries General Corporate Purpose 6,629.04 6,600 .00 29.04 4 During the period ended 30 September 2026, the Company has allotted 723,642 equity shares of Rs. 2 each to the Employee Welfare Trust ('the Trust') under the ESOP Scheme 2025. The Trust has transferred 4 I 6,896 shares to eligible employees upon exercise of vested options during the six months period ended 30 September 2026 . The Trust held 889,636 shares as at 30 September 2026 . 5 The exceptional items includes contingent consideration received related to investments disposed in earlier years amounting to Rs 24.17 million for the quarter and six months period ended 30 September 2025 and Rs. 167.56 million during the year ended 31 March 2026 . 6 The Company operates in only one segment. Therefore, disclosure relating to segment as per Ind AS I 08 -Operating Segments, is not applicable and accordingly not made. Registered Office: Plot No. 152, Sector 44 , Gurugram 122002, Haryana , India CTN: L40106HR2015PLCI02129 Place: Gurugram Date: 28 October 2026 For and on behalf of the Board of Directors of ACME Solar Holdings Limited (formerly known as ACME _Solar Holdings Private Limited) ~u~ . • Chairman and Managing Director DIN No. 01282332
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BS R & Co. LLP Chartered Accountants Building No.10, 12th Floor, Tower-C, DLF Cyber City, Phase-II, Gurugram -122 002, India A Prasad & Associates Chartered Accountants Unit No. B1, Plot No. B9, Sector-3, Pinnacle Business Park Gautam Budh Nagar, UP-201301 Limited Review Report on unaudited consolidated financial results of ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to I Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of ACME Solar Holdings·. Limited (formerly known as ACME Solar Holdings Private Limited) 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 241 O "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I to the Statement. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The consolidated financial results of the Company for the year ended 31 March 2026 were jointly audited by one of the joint auditors along with predecessor auditor, who expressed an unmodified opinion on those financial results vide their audit report dated 07 May 2026. Further, the unaudited consolidated financial results of the Company for the corresponding quarter ended 30 June 2026, 30 September 2025 and the corresponding period from 1 April 2025 to 30 September 2025 were jointly reviewed by one of the joint auditors along with predecessor auditor who expressed an unmodified conclusion vide their respective reports dated 29 July 2026 and 03 November 2025.
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BS R & Co. LLP A Prasad & Associates Limited Review Report (Continued) ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) 7. We did not review the interim financial results of 54 Subsidiaries included in the Statement, whose interim financial results reflects total assets (before consolidation adjustments) of Rs. 260,860.18 million as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 3,338.31 million and Rs. 5,645.33 million, total net profit after tax (before consolidation adjustments) of Rs. 1,361.53 million and Rs. 2,157.14 million. and total comprehensive income (before consolidation adjustments) of Rs. 1,361.78 million and Rs. 2,156.38 million, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively, and cash flows inflow (net) (before consolidation adjustments) of Rs 33,611.47 million for the period from 1 April 2026 to 30 September 2026. as considered in the Statement. These interim financial results has been reviewed by other auditors whose report has been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to· the amounts and disclosures included in respect of these subsidiaries, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter. Gurugram 28 October 2026 Gurugram 28 October 2026 For B S R & Co. LLP Chartered Accountants Firm's Registration No.: 101248W/W-100022 David Jones Partner Membership No.: 098113 UDIN: 26098113YWDCMV1129 For A Prasad & Associates Chartered Accountants Firm's Registration No.: 004250C Partner Membership No.: 430264 UDIN: 26430264XCRUJW4445 Page 2 of 4
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BS R & Co. LLP A Prasad & Assoc iates Annexure I List of entities included in unaudited consolidated financial results . Sr . No Name of component Relationship ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Holding 1 Private Limited) 2 ACME Solar Energy Private Limited Subsidiary 3 ACME Solar Technologies (Gujarat) Private Limited Subsidiary 4 ACME Solar Energy (Madhya Pradesh) Private Limited Subsidiary 5 ACME Odisha Solar Power Private Limited Subsidiary 6 ACME Jaisalmer Solar Power Private limited Subsidiary 7 Vishwatma Solar Energy Private limited Subsidiary 8 Dayanidhi Solar Power Private limited Subsidiary 9 Niranjana Solar Energy Private Limited Subsidiary 10 Aarohi Solar Private Limited ' Subsidiary 11 ACME Jodhpur Solar power Private Limited Subsidiary 12 ACME Rewa Solar Energy Private Limited Subsidiary 13 ACME Raipur Solar Power Private Limited Subsidiary 14 ACME Magadh Solar Power Private Limited Subsidiary 15 ACME Nalanda Solar Power Private Limited Subsidiary 16 Grahati Solar energy Private Limited Subsidiary 17 Dayakara Solar Power Private Limited Subsidiary 18 ACME Solar Rooftop Systems Private Limited Subsidiary 19 Nirosha Power Private Limited Subsidiary 20 ACME PV Powertech Private Limited Subsidiary 21 ACME Solar Power Technology Private Limited Subsidiary 22 ACME Yamuna nagar Solar Power Private Limited Subsidiary 23 ACME Mahbubnagar Solar Energy Private Limited Subsidiary 24 Acme Sidlaghatta Solar Energy Private Limited Subsidiary 25 ACME Dhaulpur Powertech Private Limited Subsidiary 26 ACME Deoghar Solar Power Private Limited Subsidiary 27 ACME Raisar Solar Energy Private Limited Subsidiary 28 ACME Phalodi Solar Energy Private Limited Subsidiary 29 ACME Heergarh Powertech Private Limited Subsidiary 30 ACME Aklera Power Technology Private Limited Subsidiary 31 Acme Renewable Solutions Private Limited Subsidiary 32 Acme Uria Private Limited Subsidiary 33 Acme Surya Modules Private Limited Subsidiary 34 ACME Eco Clean Energy Private Limited Subsidiary 35 ACME Pokhran Solar Private Limited Subsidiary 36 ACME Sikar Solar Private Limited Subsidiary 37 ACME Sun Power Private Limited Subsidiary ACME Urja Two Private Limited Subsidiary 38 (previously, ACME Pushkar Solar Private Limited) ACME Urja One Private Limited Subsidiary 39 (previously, ACME Barmer Solar Private Limited) 40 ACME Surya Power Private Limited Subsidiary 41 Acme Solartech Private Limited Subsidiary 42 Acme Renewable Resources Private Limited Subsidiary 43 ACME Sigma Urja Private Limited Subsidiary 44 Acme Alpha Renewables Private Limited Subsidiary 45 Acme Renewtech Private Limited Subsidiary 46 ACME Gamma Urja Private Limited Subsidiary 47 ACME Hybrid Urja Private Limited Subsidiary 48 ACME Venus Uria Private Limited Subsidiary 49 ACME Marigold Uria Private Limited Subsidiary 50 ACME Omega Urja Private Limited Subsidiary 51 ACME Platinum Urja Private Limited Subsidiary 52 ACME Suryodaya Private Limited Subsidiary 53 ACME Taurus Urja Private Limited Subsidiary 54 ACME Renewtech First Private Limited Subsidiary Page 3 of 4
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BS R & Co . LLP A Prasad & Associates Sr . No Name of component Re lat ion sh ip 55 ACME Renewtech Second Private Limited Subsidiary 56 ACME Renewtech Fourth Private Limited Subsidiary 57 ACME Renewtech Fifth Private Limited Subsidiary 58 ACME Renewtech Sixth Private Limited Subsidiary 59 ACME Greentech First Private Limited Subsidiary 60 ACME Greentech Second Private Limited Subsidiary 61 ACME Greentech Fourth Private Limited Subsidiary 62 ACME Greentech Fifth Private Limited Subsidiary 63 ACME Greentech Sixth Private Limited Subsidiary 64 ACME Greentech Seventh Private Limited Subsidiary 65 ACME Greentech Eighth Private Limited Subsidiary 66 ACME Greentech nineth Private Limited Subsidiary 67 ACME Greentech Eleventh Private Limited Subsidiary 68 Acme Greentech Twelfth Private Limited Subsidiary 69 Acme Greentech Thirteenth Private Limited Subsidiary 70 Acme Greentech Fourteenth Private Limited Subsidiary 71 ACME Employees Welfare Trust Subsidiary 72 ACME Greentech Fifteen Private Limited Subsidiary 73 ACME Greentech Sixteen Private Limited Subsidiary 74 ACME Greentech Seventeen Private Limited Subsidiary 75 ACME Greentech EiQhteen Private Limited Subsidiary 76 ACME Greentech Nineteen Private Limited Subsidiary 77 ACME Greentech Twenty Private Limited Subsidiary 78 ACME Greentech Twenty One Private Limited Subsidiary 79 ACME Greentech Twenty Two Private Limited Subsidiary 80 ACME Greentech Twenty Three Private Limited Subsidiary 81 ACME Greentech Twenty Four Private Limited Subsidiary 82 ACME Greentech Twenty-Five Private Limited Subsidiary 83 ACME Greentech Twenty-Six Private Limited Subsidiary 84 ACME Greentech Twenty-Seven Private Limited Subsidiary 85 ACME Greentech Twenty-Eight Private Limited Subsidiary 86 ACME Greentech Twenty-Nine Private Limited Subsidiary 87 ACME Greentech Tenth Private Limited Subsidiary Page 4 of 4
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~r-A= Leading Through Inn ovation ACME Solar Holdings Limited (formerly l<nown as ACME Solar Holdings Private Limited) Statement or Unaudited Consolidated Finnncial Results for the quarter and six month period ended 30 September 2026 (All a111011111s in Rs. 111illi o11, unless olherwise s/a/ ec/) S.No. Particnlars Quarter ended Six months ,eriod ended Yenr en ded 30 September 2026 30 June 2026 30 September 2025 30 Sep tember 2026 30 Se ptemb er 2025 31 March 2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Revenue from operations (a) Sale of electricity 8,870.11 8,574.78 4,675.85 17 ,444.89 9,785.69 20,229 .59 (b) Other operating re venue 0.22 1.63 0.22 1.63 4.20 Total revenue from opernlions ((a) +(b)) 8,870.11 8,575.00 4,677.48 17,445.11 9,787.32 20,233 .79 II Other income 1,200.70 962.73 1,336 .18 2,163.43 2,066 .24 4,837 .01 III Totnl Income (I+JI) 10,070.81 9,537.73 6,013.66 19,608.54 11,853.56 25,070.80 IV Expenses (a) Cost of power purchased 704.15 389.51 1,093.66 (b) Emp lo yee benefits expense 178 .30 177.45 154 .50 355 .75 312 .54 619.69 (c) Other expenses 453 .04 665.43 520 .88 1,118.47 894 .56 1,8 00 .74 Total expenses ((n)+(b)+(c)) 1,335.49 1,232.39 675.38 2,567.88 1,207.10 2,420.43 V Profit before finance cost, depreciation and amortisation expenses, 8,735.32 8,305.34 5,338.28 17,040 .66 10,646.46 22,650 .37 taxes and exceptionnl items ((Ill)-(IV)) V1 Finance costs 3,452.1 2 3,442 .71 2,645 .21 6,894.83 4,974 .84 11 ,229.88 VII Depreciation and amortisation expense 1,723 .06 1,547.99 1,173 .77 3,271 .05 2,2 49 .28 4,679 .02 VIII Profit before taxes and exceptional items (V -VI -VII) 3,560.14 3,314.64 1,519.30 6,874.78 3,422.34 6,741.47 IX Exceptional items (refer note 5) 42.49 (11662) 26.77 X Profit before tax (VIII+IX) 3,560.14 3,314.64 1,561.79 6,874.78 3,305.72 6,768.24 XI Tax expense: (a) Current tax 888.22 581.86 101.58 1,470 .08 186. 18 1,68 5.06 (b) Deferred tax (14 .69 ) 379.48 309.56 364.79 660.65 104 .33 Total tnx expense ((a)+(b)) 873.53 961.34 411.14 1,834.87 846.83 1,789 .39 XII Profit for the period/ year (X-XI) 2,686.61 2,353.30 1,150.65 5,039.91 2,458.89 4,978.85 XIII Other comprehensive income A Items that will not be reclassified to profit or loss (a) Re-measurement gain/(loss) on defined benefit plans (13 .31) (7.90) (4.40) (21.21) (0 .90) 7.09 (b) Income tax effect 3.35 1.99 I.I I 5.34 0.23 (1.78) B Items that will be reclnssified to profit or loss (a) Net movement of cash flow hedges 218.87 78 .14 (33 .13) 29 7.01 (b) Income tax effect (55 08) (19 67) 8.34 (74 .75) Other comprehensive income/(loss) (net of tax) (A+B) 153.83 52.56 (28.08) 206.39 (0.67) 5.31 XIV Totnl comprehensive income for the period/year (Xll+XIII) 2,840.44 2,405.86 1,122.57 5,246.30 2,458.22 4,984.16 Profit nttributable to : -O wners of the Company 2,683 .99 2,353.30 1,150 .73 5,037 .30 2,459 .03 4,989 .15 -Non-controlling interest 2.62 (0 .00) (0 .08) 2.61 (014) (1030) Other comprehensive income/(loss) attributnble to : -Owners of the Company 153 .83 52 .56 (28 08) 206 .39 (0 67) 5.31 -Non-controlling interest Total comprehensive income attributable to : -Owners of the Company 2,837 .82 2,405 .86 1,122.65 5,243 .69 2,458 .36 4,99 4.46 -Non-controllin g interest 2.62 (0 00) (0 .08) 2.61 (0 .14) (10 .30) xv Paid-up equity share capital (face value of Rs. 2/-per equity share) 1,411.97 1,4 11. 24 1,210 .18 1,411.97 1,2 10.18 1,2 10 .78 XVI Other equity 49,404 .04 XVII Earnings per share (EPS) -foce value or Rs. 2/- ench• Basic (in Rs) 4.00 3.71 1.90 7.5 1 4.06 8.24 Diluted (in Rs) 3.75 3.67 1.88 7.42 4.02 8.16 * Nol been a111111a/ised exceplforyear ended 31 March 2026
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ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) Statement of Unaudited Consolidated Assets and Liabilities as at 30 September 2026 S.No. Particulars A ASSETS Non-current assets Property, plant and equipment Right-of-use assets Capital work-in -progress Intangible assets Financial assets (i) Investments (ii) Loans (iii) Other financial assets Deferred tax assets (net) Non-current tax assets (net) Other non current assets Total non-current Assets 2 Current assets Inventories Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balance other than cash and cash equivalents (iv) Other financial assets Other current assets Assets classified as held for sale Total current assets Total Assets B EQUITY AND LIABILITIES 3 Equity Equity share capital Other equity Equity attributable to Shareholders of the Company Non-controlling interests Total Equity 4 Non-current liabilities Financial liabilities (i) Long term borrowings (ii) Lease liabilities (iii) Other financial liabilities Provisions Deferred tax liabilities (net) Other non-current liabilities Total non -current liabilities 5 Current liabilities Financial liabilities (i) Short term borrowings (ii) Lease liabilities (iii) Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Other financial liabilities Other current liabilities Provisions Current tax liabilities (net) Total current liabilities otal Equity and Liabilities (All amounts in Rs . million, unless othe,wise stated) As at 30 September 2026 As at 31 March 2026 Unaudited ,,,,,. 1,81,522.59 12 ,597 .16 70,672.86 0.26 2,750.00 408.00 1,109.38 5,233 .79 377.30 15,323.91 2,89,995.25 329.42 4,396.93 43,840 .75 61,956 .08 1,510 .71 4,246.43 1,16,280.32 1,16,280.32 4,06,275.57 1,411.97 82,209.49 83,621.46 (I 0.52) 83,610.94 2,40,571.05 9,842 .17 3,567 .52 210 .60 6,107 .13 25,290 .82 2,85,589.29 24,676 .79 874.38 42.25 106 .76 9,615.35 1,428.56 27.33 303.92 37,075 .34 3,22,664.63 4,06,275.57 Audited 1,46 ,638 .28 10 ,677.80 43 ,576 .60 0.25 2,750 .00 3,161.33 3,949 .72 262.59 4,529 .14 2,15,545.71 173.73 3,329.47 22 ,309.43 39 ,271.48 1,450 .93 3,226.58 69,761.62 95 .76 69,857.38 2,85,403.09 1,210.78 49,404.04 50,614.82 (13 .14) 50,601.68 1,67,398 .76 8,449.45 2,483 .15 144.58 4,388.86 19 ,735.02 2,02,599 .82 22,481.73 633.00 41.15 111.55 6,802 .35 1,637 .53 17 .19 477.09 32,201.59 2,34,801.41 2,85,403.09
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ACME So lar Ho ldings Limited (former ly known as ACME Solar Hol dings Private Limited) Stateme nt of Unaud ited Conso lidated Cash Flows for the six mont hs period ended 30 September 2026 (All amounts in Rs . million, unless othe,wise stated) Part iculars For the per iod ended For the per iod ended 30 September 2026 30 September 2025 Unaudited Unaudited CASH FLOWS FROM OPERA TING ACTIVITIES Profit before tax 6,874 .78 3,305.72 Adjustments for: Depreciation and amortisation expense 3,271 .05 2,249.28 Provision for doubtfol debts 12 .66 - Finance costs 6,894.83 4,974 .84 Interest income (1,668. ·18) (1,105.83) Amortisation of deferred income (456.95) (352 .88) Amortisation of deferred expenses 0.98 Anci lliary cost on borrow ings prepaid 159 .11 Contingent consideration re lated to investment disposed in earlier years (42.49) Gain on derivates instr uments marked to market - (284.15) Deferred consideration written off - 147 .28 Recoverable written off 20 .60 Net foreign exchange difference 9.04 0.07 Employee stock option expense 44.10 45 .94 Loss on sa le of fixed assets (net) 39 .63 Cost towards increase of authorized share capita l 1.40 Insurance claim received (42.81) Operati ng profit before working capita l changes 15,003.33 9,094.69 Movement in working capital Change in inventories (155.69) (247.85) Change in trade receivables (1 ,080 .12) 864 .04 Change in other current and non-current financia l assets (156 .63) 962 .96 Change in other current and non-current assets (1,799.80) (4,155 .14) Change in trade payables (19.78) (1 ,939.28) Change in other current and non-current financial liabilities 911.05 (955 .74) Change in current and non-current provisions 54 .95 26.19 Change in other current and non-c urrent liabilities (344.44) (384 .06) Cash flows generated from operating activities post wo rking capita l cha nges 12,412 .87 3,265.81 Income tax paid (net) (1,746 .95) (321.13) Net cash flows ge nerated from operating activities (A) 10,665.92 2,944.68 CASH FLOWS FROM INVESTING ACTIVITIES Payment for purchase of property, plant and equipment (including capital work-in-progress, capital creditors and capital advances) (63,292.14) (14,024 .16) Proceeds from sale of property, plant and equipment 20 .07 Interest received from deposits and others 1,860 .19 1,084 .51 Proceeds from contingent consideration related to investment disposed in earlier years - 42.49 Investment in fixed depos its (net) (20,194.40) (13 ,599 .20) Loans (given to)/received back from re lated parties (net) (408 .00) 1,874 .35 Proceeds of assets held for sa le 95.76 Net cas h flows used in investi ng activities (B) (81,938.59) (24,601.94) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from equity share capital issued net of issue expenses 27,698 .65 Repayment of non convertible debentures (8,189.80) (770 .51) Proceeds from long tenn borrowings 77,779.38 27,750.36 Repayment of long tenn borrowings (3,324 .94) (7,602.13) Proceeds from/(repayment of) short term borrowings (net) 10 ,329 .37 (421.37) Payment of lease liabi lities (including interest paid on lease liabi lities Rs. 340.11 million (30 Sep 2025: Rs . 326.79 million) (956.49) (530.47) Finance costs paid (10,532 .18) (5,464.04) Dividend paid (121.02) Net cash flows ge nerated from financi ng activities (C) 92,803.99 12,840 .82 Increase/(decrease) in cash and cash equivalents (A+B+C) 21,531.32 (8,816.44) Cash and cash equiva lents at the beginning of the period 22,309.43 12,842 .73 Cash and cash equivalents at the end of the period 43,840 .75 4,026 .29
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ACME Solar Holdings Limited (formerly known as ACME Solar Holdings Private Limited) Notes to the Unaudited Consolidated Financial Results for the six months period ended 30 September 2026 The above consolidated financial results of ACME Solar Holdings Limited (Formerly known as ACME Solar Holdings Private Limited) ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiarie s together referred to as 'the Group') for the quarter and period ended 30 September 2026 have been reviewed by the Audit Co mmittee and approved by the Board of Directors of Holding Company at their respec tive meetings held on 28 October 2026. The Joint Statutory Auditors of the Holding Company have carried out limited review of these results and issued an unmodified opinion. 2 The above consolidated financial results have been prepared in accordance with the recognition and measurement principles of Indian Accounting Standard (referred to as "Ind AS") 34 - Interim Financial Reporting as notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended) specified under section 133 of the Companies Act, 2013, other acco untin g principles ge nerally accepted in India and in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Lis tin g Obligations and Disclosure Requirements) Regulation, 2015 (as amended). 3 The Holding Company has issued 100 ,178,890 equity shares having face value of Rs . 2 each at Rs. 279.50 per equity share (inc luding share premium of Rs. 277.50 per share ) through Qualified Institutional Placement ("QIP"). The details of utili satio n ofQIP proceeds of Rs. 27,629.04 million (net of iss ue expenses of Rs . 370 .96 million) is as follows: (Amounts in Rs. million) Objects of the Issue of Placement Document Amount to be utilised Amount utilised upto 30 Total amount unutilisecl (net) September 2026 as at 30 September 2026 Repayment/ pre-payment, in part or in full, of certain outstanding borrowings 21,000 .00 13 ,972.50 7,027 .50 availed by or sanctioned to the Holding Company and certain of its Subsidiaries General Corporate Purpose 6,629.04 6,600.00 29 .04 4 During the period ended 30 September 2026, the Holding Company has allotted 723,642 equity shares of Rs. 2 each to the Employee Welfare Trust ('the Trust') under the ESOP Scheme 2025 . The Trust has transferred 416,896 shares to eligible employees upon exercise of vested options during the six months period ended 30 September 2026. The Trust held 889,636 shares as at 30 September 2026. 5 The exceptional items includes a) contingent consideration received related to investments disposed in earlier year amounting to Rs. 42.49 million during the quarter and period ended 30 September 2025 and Rs. 185 .88 million during the year ended 31 March 2026; and b) ancilliary cost of Rs . 159.11 million incurred on prepayment of borrowings by subsidiaries during the period ended 30 September 2025 and year ended 31 March 2026 . 6 The Group operates in only one segme nt. Therefore, disclosure relating to segment as per Ind AS 108 -Operating Segments, is not applicable and accordingly not made . Registered Office: Plot No. 152, Sector 44, Gurugram 122002, Haryana, India CIN: L40I06HR2015PLC 102129 Place: Gurugram Date: 28 October 2026 , For and on behalf of the Boa rd of Directors of A~ag~(fo,medy kaowa as ACME Sola< Holdiags P<ivat, Limited) Manoj Kumar Upadhyay Chairman and Managing Director DIN No . 01282332
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Leading Through Innovation ACME Solar Holdings Limited CIN: L40106HR2015PLC102129 Corporate Office: 4th, 6th to 8th Floor, Block A1, DLF World Tech Park, DLF IT SEZ Silokhera, Sector 30, Gurugram, Haryana 122001 India Tel: +91-124-4507100 Fax: +91-124-7117001 Regd. Office: Plot No .152, Sector-44, Gurugram 122002, Haryana, India Tel: +91-124-7117000 Fax: +91-124-7117001 Email: cs.acme@acme.in; Website: www.acmesolar.in; Annexure II Information as required under Regulation 30 and Schedule III of SEBI Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular bearing No. HO/49/14/14(7)2025 -CFD- POD2/I/3762/2026 dated January 30, 2026 S. No. Particulars Remarks 1 Reason for change viz. appointment, reappointment, resignation, removal, death or otherwise Appointment of M/s Grant Thornton Bharat LLP, as the Internal Auditor of the Company 2 Date of appointment/ reappointment/ cessation (as applicable) & term of appointment/re- appointment Date of appointment: October 28, 2026; and Term of appointment: Appointment is for for a period of 18 months, effective from October 01, 2026 to March 31, 2028, co vering the financial years 2026 –27 and 2027–28 3 Brief profile (in case of appointment) Grant Thornton Bharat LLP (“Firm”) is registered under the Indian Limited Liability Partnership Act (LLPIN: AAA-7677) and is a founding member firm of the Grant Thornton International network (Grant Thornton International Ltd, UK). The Firm works across assurance, global delivery, risk, tax, regulatory, ESG, transformation and deals consulting, and serves several Fortune India 500 and Fortune India Next 500 companies. Globally, the Grant Thornton network is, as per the Firm, ranked among the top 5 in all ma jor markets, including India. The Firm has deep business and industry experience in the renewable energy and power sectors, including internal audit, IFC and controls advisory. It adopts an integrated internal audit approach covering process, financial, IT and fraud risks to enhance risk governance. It uses audit analytics software such as ACL, IDEA and its proprietary tool, IntelliRO. 4 Disclosure of relationships between directors (in case of appointment of a director) Not Applicable