ACME Solar shares rally 5% after Q2 profit jumps over 100%, signs 400MV agreement with NTPC

The PAT in Q2FY26 was Rs 115 crore.5% for the quarter (y-o-y basis) to Rs 1,007 crore in Q2FY27 from Rs 601 crore in Q2 FY26, primarily driven by BESS and RE capacity addition. EBITDA margin of 86.7% for the quarter, marginally lower YoY as it also includes cost of power purchased for BESS operations under operating expenses.The asset base stands at Rs 28,462 crore, up Rs 11,466 crore from last year on account of commissioning of BESS and RE assets.

The company commissioned 2.1 GWh BESS for the quarter till date, taking total commissioned BESS capacity to 5.2 GWh – 2nd largest BESS capacity in India. It commissioned BESS and solar enabled partial commissioning of 1.9 GW projects and the initial target achieved for half yearly BESS commissioning at 5 GWh.Live EventsACME Solar has raised its FY27 battery energy storage system (BESS) commissioning target to over 12 GWh from the earlier 10 GWh.

The company has also increased its renewable energy generation capacity target for 2030.The company said that its power generation increased by 19.6% to 1,840 million units in Q2 FY27 against 1,539 million units in Q2FY26 driven by capacity addition and higher irradiation. Around 324 million units sold incrementally through short term peak power BESS operations.The capacity utilization factor has increased from 24.1% in Q2 FY26 to 27.8% in Q2 FY27.

The plant availability and grid availability at 99.3% and 99.2% respectively for Q2 FY27.Agreement with NTPCAccording to a filing with the exchange on Thursday, the company said that ACME Marigold Urja, a wholly owned subsidiary of ACME Solar Holdings Limited has executed a Power Purchase Agreement (PPA) with NTPC Limited (NTPC) for a Firm and dispatchable Renewable Energy (FDRE) power project for a contract capacity of 400 MW under NTPC’s FDRE Tranche 01.NTPC is the name of the entity awarding the order(s)/contract(s) and is awarded by a domestic entity.

The scheduled commencement of supply date (SCSD) is June 30, 2028. The project tenure is 25 years from the date of SCSD. Why Nomura, other brokerages remain bullish?The total size of the project is 400 MW contracted capacity, at a tariff of Rs 4.37 per unit. No promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s).ACME Solar Holdings share price movementIn the last one month, the stock went down 2.75%.

In 2026 so far, the stock went up 79.07% and nearly 49.12% in the last one year.Disclosure: This article has been written by Surbhi Khanna, who is not a SEBI-registered Research Analyst or an investment advisor . Surbhi Khanna does not hold any financial interest in Economic Times as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.

They should not be construed as the views or recommendations of the EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.(You can now subscribe to our ETMarkets WhatsApp channel)