Financial Results for the quarter and year ended 31 March 2026
CLEANMAX · price
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Clean Max reported strong full-year results with total income of ₹20,752.14 million, up 28.9% from ₹16,103.42 million in the prior year. Revenue from operations grew ~27.9% to ₹19,128.73 million, driven by Renewable Energy Power Sales (₹13,994.50M, +26.4% YoY) and Renewable Energy Services (₹4,973.28M, +32% YoY). EBITDA improved to ₹12,945.63 million (+27.5% YoY), though finance costs remain high at ₹7,859.22 million. PAT surged 340% to ₹855.77 million from ₹194.29 million. Total assets nearly doubled to ₹230,982.78 million, supported by a massive expansion in gross borrowings (₹113,124.22 million vs ₹71,268.37 million) and capex of ₹56,872 million on property, plant and equipment. The company listed during FY2026, and the auditor noted that Q3 FY2025 and Q4 FY2024 figures were not subjected to audit as the listing happened during Q4. Basic EPS stands at ₹9.10 vs ₹2.88.
Clean Max delivered exceptional PAT growth (>340%) and strong revenue expansion, signalling a scaling renewable energy platform. However, the near-doubling of borrowings and high finance costs raise leverage concerns that investors should monitor, especially given the company's heavy capex cycle.