CleanMax Q3 Addendum on Maharashtra Banking Norms Impact

CleanMax issues addendum to Q3 FY26 shareholder letter clarifying potential impact of proposed solar banking restrictions and Time-of-Day tariffs.
Assumes worst-case scenario of immediate, nationwide adoption, estimating only a 1.5% EBITDA impact on its 3 GW operational portfolio.
Analysis reveals 48% of portfolio revenue (onsite, CTU, STU third-party) has zero impact, with full impact concentrated in STU group captive segment.
Company highlights structural advantage of wind-solar hybrid offerings in mitigating regulatory risk and maintaining customer savings.