ACME Solar FY26 results: revenue up 54%, PAT ₹115 crore

Key updates at a glance

ACME Solar Holdings reported strong year-on-year growth across recent FY26 quarters, supported by capacity additions and improved capacity utilisation factor (CUF). For Q2 FY26 (quarter ended September 2025), the company reported a sharp rise in consolidated revenue and profit, along with higher EBITDA. It also disclosed operational improvements, including higher electricity generation and CUF. Separately, net sales data points for September 2025 and December 2025 indicate continued momentum in reported sales on both consolidated and standalone bases.

Q2 FY26: revenue more than doubles on CUF and capacity

For Q2 FY26, ACME Solar said revenue increased 103.8% year-on-year to ₹601 crore, driven by capacity additions and higher CUF. Another reported comparison put consolidated revenue from operations at ₹601 crore versus ₹295 crore in Q2 FY25, implying about 104% YoY growth.

Profitability also moved sharply higher in the same quarter. EBITDA rose 108.3% YoY to ₹534 crore, while PAT increased 652.1% YoY to ₹115 crore. The company also reported the base PAT in Q2 FY25 at ₹15 crore, highlighting the scale of the jump.

Q3 FY26: revenue ₹617 crore, EBITDA margin improves

In the subsequent quarter commentary (Q3 FY26), ACME Solar reported total revenue of ₹617 crore, up 54% YoY, again attributing growth to capacity addition and higher CUF. The company also reported an EBITDA margin of 91.5% in Q3 FY26 compared with 89.6% last year, citing operating leverage and operational efficiency.

PAT for Q3 FY26 was reported at ₹114 crore, with a PAT margin of 18.4%. While the article text does not provide Q3 FY25 PAT or EBITDA in absolute terms, it does provide the margin comparison and the YoY revenue growth number, which helps frame the quarter as margin-resilient alongside expansion.

Operational metrics: generation up 49%, CUF rises to 24.3%

Alongside financial performance, ACME Solar disclosed operating metrics for the quarter, reporting generation of 1,567 million units, up over 49% YoY. It also stated that CUF improved to 24.3% from 22.7% last year.

These two metrics matter because they link directly to the drivers cited for revenue growth. Higher generation and improved CUF typically indicate better utilisation of installed capacity, which can support revenue and margins when tariffs and offtake remain steady.

Net sales snapshots: September and December 2025

Separate net sales datapoints provide additional context on reported sales performance across quarters.

For December 2025, ACME Solar consolidated net sales were reported at ₹496.79 crore, up 42.34% YoY. For the same period, ACME Solar standalone net sales were reported at ₹917.66 crore, up 229.17% YoY.

For September 2025, ACME Solar consolidated net sales were reported at ₹467.75 crore, up 80.19% YoY. The article text does not specify whether these net sales figures align exactly with the Q2 FY26 revenue-from-operations number of ₹601 crore, so they are best read as additional disclosed sales indicators rather than a direct substitute for the revenue line reported in results.

Standalone EPC performance disclosed for Q2 FY26

The article also cites standalone EPC metrics for the quarter: revenue of ₹332 crore and EBITDA of ₹106 crore. While it does not provide the comparable prior-period figures for the EPC segment, the inclusion of standalone EPC numbers indicates that, alongside the IPP business, the engineering, procurement and construction operations were also material in the quarter’s reported financials.

Another results datapoint: revenue ₹510.98 crore and profit growth claim

One section of the provided text states: revenue stands at ₹510.98 crore, a quarter-on-quarter increase of 4.95% from ₹486.89 crore, and YoY growth of 65.02%. It also references very large YoY net profit growth percentages, including a 10,456.83% YoY growth claim in one line.

Separately, the text says ACME Solar Holdings Ltd’s net profit jumped 9,312.23% YoY to ₹130.83 crore in “Q1 2025-2026”, and that net profits increased 6.06% on a quarterly basis. As the source excerpt does not provide the corresponding prior-year and prior-quarter profit numbers in rupees for this specific comparison, these are best treated as reported growth statements and a reported profit figure for that period.

Stock price snapshot provided

The text includes a market snapshot for ACME Solar Holdings Ltd: share price ₹270.45, open ₹279.8, previous close ₹280.06, day high ₹283.93, day low ₹268.55, 52-week high ₹303.94, and 52-week low ₹167.75. These figures provide context on where the stock was trading relative to its recent range at the time of the cited snapshot.

Summary table of disclosed numbers

What investors will track next

Based on the disclosures, the key variables to track in upcoming updates will be whether generation and CUF improvements sustain, and whether the very high EBITDA margins reported for Q3 FY26 remain stable. Investors will also watch how the standalone EPC business scales, given the disclosed quarterly revenue and EBITDA figures.

ACME Solar’s next set of earnings disclosures and operational updates will clarify whether the growth seen in Q2 and Q3 FY26 continues at similar rates, and how the mix of IPP and EPC contributes to reported revenue and profitability.