Summary of Key Information:

Reporting Period (Quarter/Year): Quarter ended 30 June 2026

Nature of Filing / Announcement: Outcome of Board Meeting

Audit Opinion:

Clean - Unmodified conclusion by statutory auditors B S R & Co. LLP on both standalone and consolidated financial results

Key Financial Highlights [₹ in million]:

Consolidated Results:

Quarter Ended 30 June 2026:

  • Revenue from Operations: ₹8,321.56
  • Renewable Energy Power Sales: ₹5,282.57
  • Renewable Energy Services: ₹3,001.47
  • Others: ₹37.52
  • Total Income: ₹8,741.02
  • EBITDA: ₹4,628.62
  • Net Profit: ₹551.74
  • EPS: Basic ₹4.14, Diluted ₹4.11
  • Other Equity: Not Specified
  • Cash and Cash Equivalents: Not Specified
  • Debt: Not Specified

Comparatives:

  • Q1 FY26 Revenue: ₹4,023.39 (107% YoY growth)
  • Q1 FY26 Net Profit: (₹165.97) loss (improvement to profit)

Standalone Results:

Quarter Ended 30 June 2026:

  • Revenue from Operations: ₹21,253.47
  • Total Income: ₹22,972.75
  • EBITDA: ₹5,901.33
  • Net Profit: ₹3,501.99
  • EPS: Basic ₹29.90, Diluted ₹29.68
  • Other Equity: ₹56,361.53 (as of 31 March 2026)

Segment-wise Performance:

Segment A - Renewable Energy Power Sales:

  • Revenue: ₹5,282.57 million
  • Segment EBITDA: ₹4,604.21 million
  • Segment Results: ₹2,577.39 million

Segment B - Renewable Energy Services:

  • Revenue: ₹3,001.47 million
  • Segment EBITDA: ₹335.87 million
  • Segment Results: ₹152.67 million

Corporate Actions:

Debenture Issuance:

  • Approved issuance of listed, rated, redeemable non-convertible debentures up to ₹25,000 million (₹2,500 crore) via private placement
  • To be listed on BSE and/or NSE wholesale debt market segment
  • Security: Charge over project assets, non-disposal undertaking for immovable properties, charge over inter-corporate loans, pledge over shares
  • Interest: Fixed, payable quarterly/semi-annually
  • Tenor, coupon, allotment and maturity dates to be decided by committees

Amalgamation:

  • Approved composite scheme of amalgamation of four wholly-owned subsidiaries:
  • Clean Max Aditya Power Private Limited (Net worth: ₹165,312.12 million)
  • Cleanmax IPP 1 Private Limited (Net worth: ₹305.96 million)
  • CMES Power 1 Private Limited (Net worth: ₹138.71 million)
  • CMES Infinity Private Limited (Net worth: ₹13.87 million)
  • Rationale: Operational efficiencies, simplified holding structure, reduced administrative costs, consolidated rooftop business
  • No change in shareholding pattern as no new shares will be issued

Debenture Reclassification:

  • Amendment to Debenture Trust Deed dated 27 October 2025
  • Reclassification of listed debentures from unsecured to secured
  • Security cover enhanced from 0.7x to 1.0x of outstanding secured obligations

Other Significant Information:

IPO Proceeds Utilization (as of 30 June 2026):

  • Total fresh issue proceeds: ₹11,492.46 million (net of issue expenses)
  • Prepayment of borrowings: ₹11,226.74 million (fully utilized)
  • General corporate purpose: ₹265.72 million (fully utilized)
  • ₹120.70 million for issue expenses remains unutilized in escrow

Going Concern Assessment:

  • Current liabilities exceeded current assets by ₹12,761.60 million at consolidated level
  • Current liabilities exceeded current assets by ₹15,199.95 million at standalone level
  • Board believes adequate resources exist through projected cash flows, sanctioned credit facilities, and proposed NCD issuance

Recent Transactions:

  • Completed dilution of 49% investment in Clean Max Taurus Private Limited to Apple India Private Limited on 14 May 2026
  • Recognized net loss of ₹77.80 million on this transaction

Entities in Consolidation:

The consolidation includes 183 subsidiaries, 4 subsidiaries reviewed by other auditors, and joint ventures. Major entities include Clean Max Photovoltaic Private Limited, Clean Max Mercury Power Private Limited, and numerous other Clean Max group entities.