Clean Max Enviro Energy Solutions Limited has informed the Exchange about Transcript
CLEANMAX · price
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Clean Max Enviro, India's largest pure-play commercial and industrial (C&I) renewable energy company, shared its first earnings call post-listing. For the nine months ended December 2025, revenue grew 29% year-on-year to INR 13,554 million, EBITDA rose 33% to INR 9,448 million, and profit after tax jumped from INR 22 million to INR 402 million. Q3 alone saw 40% EBITDA growth to INR 307 crore, driven by higher power sales volumes and margin expansion (power sales EBITDA margin rose from 81% to 83%, RE services from 15% to 22%). The company has 5.7 GW of contracted RE power sales capacity (3x growth in two years), of which 3 GW is operational and 2.7 GW is under execution. Management guided to commissioning over 1.5 GW in FY27 and indicated EBITDA margins could rise to 85–86% over the next 2–3 years.
Positive signals for shareholders — strong volume growth, expanding margins, falling cost of debt (9.5% to 8.7%), and visible execution pipeline support the stock's growth story. However, management declined to provide FY27 capex, debt, or EBITDA run-rate guidance, which may limit near-term visibility for analysts.