CleanMax Q2 FY27 growth and FY28 target of at least Rs 3,000 crore reported EBITDA
CLEANMAX · price
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On the reaction day the stock moved 0.1 pts less than Nifty Smallcap 250 and 0.1 pts less than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CleanMax posted Q2 FY27 revenue of Rs 728 crore, up 37%, adjusted EBITDA of Rs 553 crore, up 43%, and PAT of Rs 65 crore, up 82%. H1 revenue rose 67% to Rs 1,560 crore, while PAT reached Rs 120 crore. Renewable power sales capacity was 3.6 GW, 2.6 GW was contracted but not yet executed, and the portfolio reached 13.2 GW. For FY28, management targets 4.6 GW capacity by 1 April 2027 and at least Rs 3,000 crore reported EBITDA.
Growth and 2.6 GW of contracted projects support the outlook, but net debt of Rs 13,838 crore and lower power output at Bikaner II add risk.