Clean Max Enviro Energy Solutions Ltd (CLEANMAX) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management reaffirmed its guidance to add 1,500 MW in FY27 and achieve a minimum of Rs. 3,000 crores in EBITDA by FY28.
- Grid curtailment at the Bikaner site has significantly improved, falling from a peak of 70% to 26% in October, mitigating a key investor concern.
- The company has hedged against rising interest rates, with 54% of its debt now at a fixed rate, protecting project IRRs from potential rate hikes.
Performance Overview
- Clean Max Enviro Energy Solutions Ltd reported strong execution with 6.3 GW of contracted RE power sales, of which 3.6 GW is operational.
- The company commissioned 600 MW of new capacity in H1 FY27, with 80% concentrated in the key industrial states of Gujarat, Karnataka, Maharashtra, and Tamil Nadu.
- Financial performance was highlighted by a 56% YoY growth in H1 EBITDA, driven by strong operational performance and capacity additions.
- The company secured a credit rating upgrade to AA Stable from CRISIL and successfully issued its first AA-rated green bond of Rs. 2,500 crore.
- A robust execution pipeline is in place, with 2.6 GW of contracted capacity under construction, representing about 21 months of future growth at the current pace.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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