Clean Max Enviro Energy Solutions Limited – Investor Presentation Summary
Key Operational Highlights
- Operational RE Power Sales capacity reached 3,493 MW as of June 30, 2026, representing 31% YoY growth
- 403 MW of new RE Power Sales capacity commissioned in Q1 FY27 across 5 states in India
- 79% of new volumes contracted with existing customers (repeat business)
- Data & AI customers represent a major growth driver, accounting for significant portion of contracted RE power sales capacity
- Grid uptime maintained at 99.10% (trailing 12 months)
Segment-wise Performance
RE Power Sales Segment:
- Revenue: ₹5,283 million in Q1 FY27 (47% YoY growth)
- Gross Margin: 92.06%
- Adjusted EBITDA: ₹4,604 million
- Adjusted EBITDA Margin: 83.67%
RE Services Segment:
- Revenue: ₹3,001 million in Q1 FY27 (627% YoY growth)
- Gross Margin: 15.65%
- Adjusted EBITDA: ₹336 million
- Adjusted EBITDA Margin: 11.16%
Financial Highlights
Revenue from Operations: ₹8,322 million in Q1 FY27 (107% YoY growth)
EBITDA: ₹4,629 million in Q1 FY27 (68% YoY growth)
Adjusted EBITDA: ₹4,940 million in Q1 FY27 (74% YoY growth)
Reported PAT: ₹552 million in Q1 FY27 (from loss of ₹166 million in Q1 FY26)
EBITDA Margin: Not explicitly stated as percentage of revenue
YoY Comparison: All key financial metrics showed significant improvement compared to Q1 FY26
Drivers of financial performance: Capacity commissioning, operational scale, superior EBITDA margins
Key Risks: Grid backdowns expected in 525 MW CTU project in Rajasthan over next 6-12 months due to transmission system upgradation
Geographical Revenue Split
Domestic vs Export: Not explicitly specified in percentage terms
Regional Breakdown (Operational Capacity as of June 30, 2026):
- Gujarat: 842 MW (24% of total)
- Karnataka: 1,104 MW (32% of total)
- Rajasthan: 525 MW (15% of total)
- Haryana: 193 MW (6% of total)
- Maharashtra: 168 MW (5% of total)
- Tamil Nadu: 136 MW (4% of total)
- Chhattisgarh: 107 MW (3% of total)
- Onsite Solar: 419 MW (12% of total) across 22 Indian states and 4 countries
Balance Sheet Snapshot
Gross Block: ₹141,381 million (as of June 30, 2026)
Net Debt: ₹118,092 million (as of June 30, 2026)
Total Equity: ₹58,316 million (as of June 30, 2026)
Financial Health Insights: Growth due to increase in commissioned and under construction capacity
Capex & Cash Flow Health
Capital Expenditure: Unit economics provided: Solar - ₹3.5 Cr/MWp, Wind - ₹7.8 Cr/MW (excluding soft costs of 5-7%)
Free Cash Flow: Not specified
Operating Cash Flow: Not specified
Net Debt Movement: Increased from ₹96,841 million (FY26) to ₹118,092 million (Q1 FY27)
Investment Rationale: Capacity expansion, technology upgrades
Strategic & R&D Initiatives
Investments in Innovation: Focus on Data & AI customer segment, diversified renewable mix across solar and wind
Expected impact on growth: Data & AI customers are major growth driver
Strategic Rationale: Expanding into high-growth markets, reducing operational costs through scale
Industry Trends & Business Environment
Macro/Industry Trends: Growing demand for renewable energy from C&I segment
Impact on Company: Strong contracting run-rate driven by high quality customers and repeat orders
Management Commentary & Growth Outlook
Strategic Outlook: Company expects minimum 1,500 MW commissioning in FY27
FY28 Guidance: Minimum run-rate EBITDA of ₹3,000 crore based on minimum 4.6 GW capacity as of April 1, 2027
Market Share Targets: India's Largest C&I Renewable Energy Provider
Risks and Opportunities: Grid evacuation challenges in CTU projects, stabilization period of 3-6 months for STU projects post-COD
ESG Updates
Greenhouse Gas Reporting: Independent assurance by LRQA Limited in accordance with GRI Standards
Scope 1 Emissions: 0 tCO2e (trailing twelve months)
Scope 2 Emissions: 3,514 tCO2e (trailing twelve months)
Scope 3 Emissions: 218,938 tCO2e (trailing twelve months)
Electricity Generation: 3,793,541 MWh (trailing twelve months)
IREC Credits: 1,300 MWh redeemed for period Apr 2026 - June 2026 to offset imported electricity