Clean Max Q1 Consolidated Revenue Tops ₹8.32 Billion

MUMBAI, India — Clean Max Enviro Energy Solutions Limited reported a consolidated revenue from operations of ₹8.32 billion (₹832 crore) for the first quarter ended June 30, 2026, representing a 107% year-on-year increase compared to ₹4.02 billion (₹402 crore) in the corresponding period last year. The Mumbai-headquartered commercial and industrial renewable energy solutions provider posted a consolidated net profit of ₹485.2 million (₹48.52 crore) for the quarter, turning around from a loss of ₹170 million (₹17 crore) in Q1 FY26.

The financial results, approved by the company's Board of Directors on July 31, 2026, were driven by strong volume expansion across its operational power assets and rapid execution in its renewable energy services division.

Detailed Financial and Operational Performance Breakdown

Clean Max Enviro Energy Solutions achieved significant operational scale during the quarter, commissioning a record 0.5 GW (500 MW) of new renewable energy capacity across multiple Indian states. This represents the highest single-quarter capacity addition in the company's 15-year history.

Segmental Revenue and Profitability Summary

Portfolio Growth and Data Center Demand

• Contracted Capacity: The total contracted Renewable Energy (RE) Power Sales capacity reached 6.0 GW as of June 30, 2026, comprising 3.5 GW of operational capacity and 2.5 GW under execution.

• Total Portfolio: Including the RE Services segment, total contracted capacity expanded to 6.8 GW, representing a threefold increase over two years.

• Data Center & AI Expansion: Demand from data centers and artificial intelligence infrastructure providers contributed 42% of total contracted RE Power Sales capacity, reaching over 2.5 GW.

• Customer Retention: Repeat commercial and industrial (C&I) clients accounted for 79% of new capacity added during the quarter.

• Customer Base: The company actively serves 593 corporate clients under power purchase agreements (PPAs) with a weighted average tenor of 23 years.

Strategic Initiatives and Capital Structure Optimization

The Board of Directors approved two strategic structural initiatives during its meeting:

1. SPV Consolidation: Consolidation of select rooftop solar Special Purpose Vehicles (SPVs) representing 148 MWp across four entities into the holding company to streamline operating expenses and optimize cash flows.

2. Bond Issuance: Approval for issuing domestic non-convertible bonds to diversify capital sources and secure long-term, fixed-rate financing for capital expenditures.

The company reduced its weighted average cost of project debt to 8.4% as of June 2026, down from 9.2% in April 2025, supported by its CARE AA- (Stable) credit rating. Selling, General & Administrative (SG&A) expenses as a percentage of RE Power Sales total income decreased to 8.7%.

Official Sources Section

According to regulatory filings submitted to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

• The Board of Directors of Clean Max Enviro Energy Solutions Limited approved the unaudited financial statements on July 31, 2026.

• Results were uploaded to the official portals of the
  National Stock Exchange of India
  and
  BSE Limited

• Regulatory compliance filings were signed by Company Secretary and Compliance Officer Ullash Parida in Mumbai.

Quote Section

According to official executive statements released with the financial statements:

Kuldeep Jain, Founder and Managing Director of Clean Max Enviro Energy Solutions Limited, stated:

"We had a strong quarter. Operating results saw a strong growth in EBITDA, driven by volume growth and higher EBITDA margins in both business segments of RE power sales and RE services. Further, we added a record new capacity of over 500 MW in the first quarter, and are well on track to meet our guidance of adding a minimum of 1,500 MW of new capacity during the year."

Nikunj Ghodawat, Chief Financial Officer, added:

"Q1 FY27 reflects the strength of our business model as scale translates into stronger financial performance. As our commissioned portfolio grows, earnings, profitability and cash flows continue to strengthen."

Why It Matters

The rapid growth in commercial renewable energy adoption highlights accelerating demand from power-intensive sectors like data centers and digital infrastructure in India. Clean Max's margin expansion and lower borrowing costs demonstrate how scale and operational efficiency benefit pure-play clean energy developers operating in the open-access market.

Key Facts at a Glance

• Consolidated Revenue: ₹8.32 billion (₹832 crore), up 107% year-on-year.

• Consolidated Net Profit: ₹485.2 million (₹48.52 crore) compared to a net loss of ₹170 million in Q1 FY26.

• Contracted Capacity: Total portfolio reached 6.8 GW, including 6.0 GW in Power Sales.

• Quarterly Execution: Record 0.5 GW (500 MW) of new capacity commissioned during Q1 FY27.

• Cost of Debt: Weighted average interest rate reduced to 8.4%.

Frequently Asked Questions (FAQ)

What was Clean Max Enviro Energy Solutions' total revenue in Q1 FY27?

Clean Max reported consolidated revenue from operations of ₹8.32 billion (₹832 crore) for the quarter ended June 30, 2026.

Did Clean Max Enviro Energy Solutions report a profit for the quarter?

Yes, the company generated a consolidated net profit of ₹485.2 million (₹48.52 crore) for Q1 FY27, turning around from a loss in the prior-year period.

How much capacity did Clean Max commission in Q1 FY27?

The company commissioned over 0.5 GW (500 MW) of renewable energy capacity, making it the highest quarterly commissioning in its history.

What percentage of Clean Max's power sales portfolio comes from data centers?

Data center and artificial intelligence infrastructure clients account for 42% of Clean Max's contracted RE Power Sales portfolio, representing over 2.5 GW.

Source: BSE Limited, National Stock Exchange of India, Ministry of Finance.