ACMESOLAR / Q2-FY26 / claim-ledger

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Acme Solar Holdings · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY26 · 2025-11-15Back to quarter ↗

Questions audited

Answered directly

73%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Mohit Kumar · ICICI Securities

partial

Risk of cancellation for projects without signed PPAs?

there is an increased urgency from the central government to take a decision for the states to sign the pending PPAs... we have attractive tariffs... we are quite advanced in couple of them... we remain confident because the directive is not to do the legacy PPAs which are not finding any takers

Mohit Kumar · ICICI Securities

direct

Transmission issues delaying under-construction projects?

max delay of a quarter from the signed PPA dates is what we are seeing... connectivity wise from our PPA timelines we are not seeing delay more than a quarter

Bala Subramanyam · Aihant Capital

evasive

Sustainability of higher under-construction tariffs vs operational?

I would not compare weighted average tariffs... each source either generates or stores... we will always bid for projects with 14-15% ROE... tariff and revenue I would request you to not look at it on a standalone basis

Bala Subramanyam · Aihant Capital

direct

Key learnings from BESS pilot and long-term service agreements?

we were able to improve by 4-5% of the roundtrip efficiency because of this configurational adjustment... we have long-term service agreement for 15 years with the vendors

Bala Subramanyam · Aihant Capital

direct

Refinancing details: fixed/floating, tenor, bullet repayments, hedging?

all of our debt which we have refinanced is for a tenor of 20 years... effectively getting a rate of around 8%... it is floating... we maintain a proportion of fixed and floating

Kan Jen · Aendas Park

partial

Impact of potential cancellation of 42 GW awarded capacity?

their target is primarily the solar projects which have been bidded very long back... this 42 GW may have gone down... we are quite hopeful that this will find takers

Kan Jen · Aendas Park

partial

Status of two solar projects without signed PPA (Acme Sigma/Omega)?

that project because that pooling scheme has been cancelled... that is under litigation... some states have shown interest... it is a state-by-state situation

Kan Jen · Aendas Park

partial

Capex spend of 1,400 cr in H1; on track for 12,000-14,000 cr target?

we have ordered batteries... LCs have been opened... it is very lumpy... 12,000 crores may get split to June... a quarter of capex delay may be there at max

Punit · HSBC

direct

How to use non-solar connectivity; need additional plants?

you can install batteries for the existing solar plant utilization... clipping power can be charged but you have to take NOC from the existing PPA holder

Punit · HSBC

direct

Will GST reduction benefit be passed to discoms automatically?

all our existing PPAs which are getting implemented we have to pass on this benefit... it is a future benefit not a current benefit

Punit · HSBC

direct

CUF experienced for new solar and wind capacities?

in the June quarter 30% plus CUF... solar is close to P50... wind is also around 37.5 but early days

Rogesh Patell · Dalat Capital

direct

Funding details for FY26 capex: debt/equity split and sources?

all of our capex is between 75:25 to 80:20 debt equity... for a 12,000 cr it will be 9,000 cr debt and 3,000 cr equity... we have cash on balance sheet, undrawn securitization proceeds of around 1,000 odd crores