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Home › Business ›CleanMax Doubles Revenue to INR 832 Cr in Q1 FY27, Contracted RE Portfolio Reaches 6.8 GW

CleanMax Doubles Revenue to INR 832 Cr in Q1 FY27, Contracted RE Portfolio Reaches 6.8 GW

CleanMax reported Q1 FY27 revenue of INR 832 crore, up 107 percent from Q1 FY26, with adjusted EBITDA of INR 494 crore and PAT of INR 55 crore, while its contracted renewable energy portfolio expanded to 6.8 GW. The company has commissioned 500 MW of RE projects across India during the quarter.

August 01, 2026. By Mrinmoy Dey

Clean Max Enviro Energy Solutions (CleanMax) has reported a 107 percent YoY growth in its revenue from operations to INR 832 crore in Q1 FY27 from INR 402 crore in Q1 FY26, led by a larger operational asset base and ramp-up in the RE Services segment. The adjusted EBITDA grew by 74 percent to INR 494 crore in Q1 FY27 from INR 284 crore in Q1 FY26. The company reported profit after tax (PAT) of INR 55 crore in Q1 FY27 aided by operating leverage and a larger base of stabilised assets.

Contracted RE Power Sales capacity reached 6 GW as of June 30, 2026. Including the RE Services segment, CleanMax's total contracted portfolio stood at 6.8 GW as of June 30, 2026, representing a threefold increase over the past two years, stated the company.

It further added that the quarter was marked by strong execution across its renewable energy portfolio, with a record 0.5 GW of capacity commissioned across multiple states in India representing the highest quarterly commissioning in the company’s history.

Demand from the data centre and AI segment continue to contribute strong growth, accounting for 42 percent of contracted RE Power Sales capacity as of June 30, 2026. Contracted capacity serving these customers has increased from 0.24 GW in March 31, 2024 to over 2.5 GW as of June 30, 2026 representing nearly 10x growth in just over two years, stated the company.

Commenting on the performance, Kuldeep Jain, Founder and Managing Director, Clean Max Enviro Energy Solutions, said, “We had a strong quarter. Operating results saw a strong growth in EBITDA; driven by volume growth and higher EBITDA margins in both business segments of RE power sales and RE services. Further, we added a record new capacity of over 500 MW in the first quarter, and are well on track to meet our guidance of adding a minimum of 1,500 MW of new capacity during the year.”

Nikunj Ghodawat, Chief Financial Officer, Clean Max Enviro Energy Solutions, added, “Q1 FY27 reflects the strength of our business model as scale translates into stronger financial performance. As our commissioned portfolio grows, earnings, profitability and cash flows continue to strengthen. Combined with a lower cost of debt and a strong credit profile, we're well positioned to fund our growth pipeline while maintaining financial discipline.”

To enhance operational efficiency, the company has initiated the consolidation of select rooftop solar SPVs, representing 148 MWp of capacity across four SPVs, into the holding company. This consolidation is expected to drive operating efficiencies and strengthen cash flow generation over the coming years, stated the company.

Additionally, CleanMax’s Board has approved the issuance of domestic bonds to diversify and expand its capital sources for future capital expenditure requirements. The proposed bond issuance is expected to improve funding competitiveness, optimise borrowing costs, and enable the company to secure long-term financing at fixed interest rates, stated the company.

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Clean Max Enviro Energy Solutions

CleanMax

CleanMax Q1 FY27 performance

CleanMax RE portfolio

CleanMax Q1 FY27 results

Kuldeep Jain

Nikunj Ghodawat