Clean Max Enviro Energy Solutions Limited (CleanMax) announced robust financial results for the first half of FY27, ending September 30, 2026. The company achieved a 58% year-on-year increase in EBITDA, reaching ₹1,011 crore. Profit After Tax (PAT) saw a dramatic surge, growing more than six-fold to ₹120 crore from ₹19 crore in the prior year’s comparable period. Revenue from operations also saw a significant uptick.
CleanMax Delivers Strong H1 FY27 Performance
Clean Max Enviro Energy Solutions Limited (CleanMax) has announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The company reported significant growth across key financial metrics, highlighting a strong performance in the first half of FY27.
Key Financial Highlights (H1 FY27)
Revenue from Operations saw a substantial increase of 67% YoY, reaching ₹1,560 crore in H1 FY27, compared to ₹933 crore in H1 FY26. Adjusted EBITDA grew by 56% YoY to ₹1,047 crore. The reported EBITDA also showed robust growth, increasing by 58% YoY to ₹1,011 crore.
Profit After Tax (PAT) experienced exceptional growth, rising more than six-fold to ₹120 crore in H1 FY27, a significant improvement from ₹19 crore in H1 FY26. This translates to an impressive 532% YoY growth.
Q2 FY27 Performance
In the second quarter of FY27 (Q2 FY27), Revenue from Operations grew by 37% YoY to ₹728 crore. Adjusted EBITDA increased by 43% YoY to ₹553 crore, while reported EBITDA grew by 51% YoY to ₹548 crore. Reported PAT for Q2 FY27 stood at ₹65 crore, marking an 82% YoY increase.
Operational and Capacity Expansion
CleanMax commissioned 550 MW of Renewable Energy (RE) Power Sales capacity in the first half of FY27, bringing its total operational RE Power Sales capacity to 3,638 MW, up approximately 57% YoY. The company expects to execute at least 450 MW of STU-connected and onsite projects in the second half of FY27, along with the 534 MW Koppal CTU project. The total operational and contracted RE Power Sales portfolio reached 6.3 GW as of September 2026, with the RE Services segment adding 0.8 GW, totaling 7.1 GW.
The company’s total platform capacity, including available grid evacuation, stood at approximately 13 GW as of September 30, 2026, an increase from 7.8 GW as of March 31, 2025.
Financial Stability and Market Position
The weighted average cost of debt stood at 8.33% as of September 2026, down from 9.49% in March 2025. CleanMax holds an AA (Stable) credit rating from Crisil. The company has a weighted average PPA tenor of approximately 23 years, serving 606 C&I customers.
CleanMax also successfully raised ₹2,500 crore through India’s first green bond issuance in the C&I renewable energy sector, with its credit rating affirmed at CRISIL AA/Stable.
Leadership Commentary
Mr. Kuldeep Jain, Founder and Managing Director, stated, “Our operational portfolio continues to expand, while our platform capacity has crossed 13 GW, providing the capacity and connectivity required to serve the next wave of C&I renewable energy demand. We believe securing grid connectivity ahead of demand is important for long-term value creation. We are comfortably placed to exceed our 1,500 MW capacity addition guidance during the year.”
Mr. Nikunj Ghodawat, Chief Financial Officer, added, “Our focus remains on scaling with execution discipline, financial prudence and a diversified portfolio. Our H1 performance reflects the increasing scale and operating leverage of the business, with Adjusted EBITDA growing 56% and PAT increasing more than six-fold year-on-year.”
Source: BSE
