Acme Solar Holdings Limited (ACMESOLAR) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 24, 2026 3 min read

Acme Solar Holdings Limited is scaling its renewable energy footprint with a focus on solar generation and battery energy storage systems (BESS) amid a shifting grid landscape in India. Investors are looking to this quarter's results for updates on the commissioning trajectory of its 1.5 GW FY27 capacity target and the impact of recent deleveraging efforts following its Rs. 2,800 Cr QIP.

Quick Details

Results date	July 29, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 705 Cr
Previous quarter PAT	Rs. 138 Cr
Previous quarter EBITDA margin	90.2%
Market cap	Rs. 26083.66 Cr
CMP	Rs. 369.0

Acme Solar Holdings Limited Q1 Results Date and Time

The board meeting is scheduled for July 29, 2026, to consider the unaudited Q1 FY27 results.

What to expect from Acme Solar Holdings Limited's Q1 FY27 results

Acme Solar's performance in Q1 FY27 is expected to reflect the interplay between steady PPA-backed revenue and the operational headwinds of grid curtailment in Rajasthan, where the company holds a significant asset concentration. While the company's generation capacity grew to 2,982 MW by March 2026, management has flagged that national renewable curtailment reached 300 GWh in Q1 2026, which may exert pressure on generation volumes relative to the 1,720 MUs reported in Q4 FY26. Finance costs, which rose to Rs. 337 Cr in the previous quarter, are expected to show stabilization as the Rs. 2,800 Cr QIP proceeds are utilized to reduce leverage, maintaining the net operational debt/EBITDA ratio within the 5.5x covenant. The upcoming call will likely focus on the commercialization status of the 3,280 MW generation and 12 GWh BESS under-construction portfolio, alongside any updates on the Rs. 472.93 Mn outstanding receivables related to the Andhra Pradesh PPA dispute.

Key Things To Watch

Performance vs Guidance Tracking: Tracking progress against the company's stated capacity expansion and leverage goals.

1.5 GW generation capacity commissioning by FY27 — Rs. 12,000 Cr capex committed including BESS
1.1 GW additional commissioning by FY28 — Rs. 10,000 Cr capex committed including BESS
Net operational debt/EBITDA ratio — target of 5.5x or lower — stood at 4.2x in Q1 FY26

BESS commercialization and revenue: Monitoring the operational ramp-up of energy storage assets.

Actual daily realization vs. Rs. 2.2 Cr/day run-rate
Commissioned capacity status vs. 3.62 GWh total operational BESS as of July 2026
Management guidance on 1-cycle vs 2-cycle daily operational strategy

Risks and headwinds to monitor: Operational and regulatory challenges impacting project economics.

Update on Andhra Pradesh PPA dispute receivables — Rs. 472.93 Mn pending across 5 instalments
Impact of Rajasthan grid curtailment on generation volumes and CUF
Status of ISTS waiver extension for co-located BESS projects beyond June 2028

Frequently Asked Questions

How did Acme Solar's revenue change in the most recent full year?

Total revenue rose to Rs. 2,507 Cr in FY26 from Rs. 1,575 Cr in FY25, representing a 59.2% YoY increase. This growth was driven by capacity additions and higher customer utilization factors.

What is the status of the company's BESS project funding?

The company secured Rs. 2,646.64 Cr in long-term project funding from REC Ltd in July 2026. This capital is earmarked for a 450 MW / 1,800 MWh BESS project with a PPA signed with SJVN.

How does the company manage its debt levels?

Acme Solar maintains a net operational debt/EBITDA covenant of 5.5x and recently closed a Rs. 2,800 Cr QIP to reduce leverage. The company also refinanced Rs. 3,300 Cr of debt during FY26, reducing interest rates by 150 bps.