CleanMax Enviro Energy Solutions Limited has reported significant financial performance for H1 FY 2026-27. The company’s Adjusted EBITDA grew by 56% to ₹1,047 crore, while Profit After Tax (PAT) surged by 6.3x to ₹120 crore. This growth is driven by an expanded operational platform, improved contracting abilities, and strategic capital raising initiatives.
Strong Financial Performance in H1 FY27
CleanMax Enviro Energy Solutions Limited has announced robust financial results for the first half of the fiscal year 2026-27 (H1 FY27). The company achieved a substantial 56% growth in Adjusted EBITDA, reaching ₹1,047 crore compared to ₹670 crore in H1 FY25-26. Profit After Tax (PAT) also saw a significant increase, growing 6.3 times from ₹19 crore to ₹120 crore.
Key Growth Drivers Identified
The company attributes this strong performance to several structural factors, including increased revenue generation capacity, enhanced operating leverage, and a lower cost of capital. Operational RE Power Sales capacity grew by approximately 57% year-on-year, with generation exported rising by 66%. Cash SG&A as a percentage of Adjusted EBITDA decreased to 11.4%, thereby lifting the RE Power Sales EBITDA margin to around 84%. Furthermore, the cost of project debt has reduced to 8.2%.
Expanding Platform and Contracted Capacity
CleanMax’s total platform size, encompassing operational, under-execution, and evacuation-available capacities, stood at 13,199 MW as of September 30, 2026. This represents a 70% increase from 7,762 MW on March 31, 2025. The company continues to execute at pace, aiming to exceed 1.5 GW of capacity commissioned during the current fiscal year. Contracted portfolio has grown by 43% to 7,100 MW.
Strategic Capital Raising Initiatives
The company highlighted its ability to raise substantial capital to fuel growth. A recent ₹2,500 crore green bond issuance marked India’s first in the C&I renewable energy sector. CleanMax also benefits from diversified equity sources, including its IPO proceeds, joint ventures with global corporations, and customer-partner equity. The cost of borrowing is competitive at 8.33%, with 53.7% of debt being fixed-rate.
Outlook and Future Strategy
CleanMax is well-positioned for continued growth, emphasizing its sustainable foundations including strong demand, ample capital, and diversified execution capabilities. The company is also venturing into new products like battery energy storage (BESS) and is on track to add 1,500 MW this year. The focus remains on expanding its operational and contracted capacity while maintaining a healthy financial profile.
Investor Information
Shareholders are invited to review the detailed operational and financial KPIs presented in the letter, including growing C&I operational capacity to 4,342 MW and a steady increase in repeat customer orders to 84.89%. The company reaffirms its commitment to sustainable growth and strengthening its market position.
Source: BSE
