**MARKET BRIEF: ACME Solar Holdings Ltd (Q3 FY26)** **Market Reaction & Price Action** Following the release of Q3 results, ACME Solar shares witnessed strong buying interest, surging approximately **5-6%** in intraday trade to hover around the **₹226** level. The market capitalization currently stands near **₹13,600 crore**, reflecting positive investor sentiment toward the company's aggressive capacity expansion and operational efficiency. **Financial Highlights** The company delivered a mixed but growth-oriented financial performance for the quarter ending December 2025: * **Revenue Surge:** Consolidated revenue jumped **53.9%** year-on-year to **₹617 crore**, driven by robust power generation and new capacity additions. * **Profitability:** Net profit recorded a marginal rise of **1.5%** to **₹114 crore**. While the bottom-line growth appears flat, the operational scale-up is evident in the top line. * **EBITDA:** Operational performance remained strong with EBITDA rising **57.2%** to **₹564 crore**, improving margins to **91.5%**. **Operational Drivers** * **Power Generation:** Total generation spiked **49%** to **1,567 Million Units (MUs)**, aided by a better Capacity Utilization Factor (CUF) of **24.3%** (up from 22.7%). * **Project Commissioning:** The company partially commissioned **72 MW** of its 100 MW wind power project in Gujarat, further diversifying its energy mix. **Strategic Wins & Funding** Beyond the quarterly numbers, ACME Solar secured critical growth levers: * **New Contracts:** Signed Power Purchase Agreements (PPAs) for a **250 MW** project with NHPC and a **200 MW** solar-plus-storage project with SECI. * **Capital Security:** Successfully secured a debt tie-up of **₹4,725 crore** from leading institutions, including Power Finance Corporation (PFC), to fund future renewable projects and optimize financing costs. **Shareholder Returns** The Board declared an interim dividend of **₹0.20** per equity share for FY 2025-26. The record date for eligibility is set for **February 6, 2026**. **Sector Outlook** ACME Solar’s expansion aligns with India’s broader 2026 energy roadmap, where installed power capacity has crossed **513 GW**. With the government emphasizing storage and grid reliability, ACME’s pivot toward hybrid projects and battery storage (BESS) positions it strategically within the evolving high-growth renewable landscape. **Summary** ACME Solar is prioritizing rapid top-line expansion and asset creation over immediate profit maximization. The successful debt fundraise and aggressive project commissioning schedule provide high revenue visibility for upcoming quarters.