Clean Max Enviro returns to profit in Q1 as revenue more than doubles; keeps FY28 EBITDA guidance

Clean Max Enviro Energy Solutions reported a strong June quarter (Q1FY27), with revenue more than doubling year-on-year and the company returning to profitability, driven by record renewable energy capacity additions and continued growth in its contracted renewable energy portfolio.

Revenue for Q1FY27 stood at ₹832 crore, up 107% from ₹402.3 crore a year earlier. Adjusted EBITDA rose 74% to ₹494 crore from ₹283.9 crore in the corresponding quarter last year. However, the adjusted EBITDA margin narrowed to 50% from 70.6% a year ago. The company reported a profit after tax (PAT) of ₹55 crore, compared with a loss of ₹16.6 crore in Q1FY26.

During the quarter, Clean Max Enviro commissioned 0.53 GW of renewable energy capacity—its highest-ever quarterly addition—taking its contracted renewable energy power sales capacity to 6 GW as of June-end from 5.7 GW at the end of March. The company’s operational renewable energy power sales capacity increased to 3,493 MW from 3,088 MW in the previous quarter, comprising 2,442 MW of solar and 646 MW of wind.

The company maintained its guidance of a minimum ₹3,000 crore EBITDA for FY28. It also reiterated its FY27 target of commissioning at least 1.5 GW of renewable energy capacity and said it has already achieved around 40% of that target in the first quarter. Around 2.6 GW of contracted capacity is currently under execution.

Clean Max Enviro said it holds an estimated 14% share of India’s commercial and industrial (C&I) non-data centre renewable energy market. It added that 42% of its contracted capacity, or 2.5 GW, is linked to Data & AI customers, highlighting the segment as a key long-term growth driver.

Shares of Clean Max Enviro Energy Solutions ended 2.48% higher at ₹1,341.40 on the NSE on July 31.