| Textual Information(1) |
Clean Max Enviro Energy Solutions Limited (formerly known as Clean Max Enviro Energy Solutions Private Limited) (the Company) is engaged in developing renewable power projects and in generation and sale of green power. The status of the Company has changed from private limited to public limited. Pursuant to the provisions of Section 18 of the Companies Act, 2013, read with Rule 33 of the Companies (Incorporation) Rules, 2014, as amended from time to time, and vide Shareholders’ approval dated 9th July, 2025, the name of the Company has changed from 'Clean Max Enviro Energy Solutions Private Limited' to 'Clean Max Enviro Energy Solutions Limited' with effect from 7th August, 2025, on which date the Registrar of Companies, Mumbai gave its approval for the said conversion. The equity shares of the Company were listed on National Stock Exchange of India Limited (NSE) and BSE limited (BSE) on 02nd March, 2026. The above unaudited standalone financial results which are published in accordance with the Regulation 33 and 52(4) read with Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”), for the quarter ended 30th June, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 31st July, 2026. The above unaudited standalone financial results have been subject to Limited Review by the statutory auditors of the Company and they have expressed an unmodified conclusion on the unaudited standalone financial results. The unaudited standalone financial results of the Company are in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS 34) Interim Financial Reporting as prescribed under Section 133 of the Companies Act, 2013. Disclosures in compliance with 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended 30th June, 2026 is attached as Annexure I. The Company publishes these unaudited standalone financial results along with the unaudited consolidated financial results. In accordance with Ind AS 108, Operating Segments, the Company has disclosed the segment information in the unaudited consolidated financial results. The Company has completed its Initial Public Offer (IPO) on 02nd March, 2026. The details of utilisation of IPO proceeds from fresh issue of Rs. 11,492.46 million (net of issue expenses of Rs. 537.32 million) is as follows: Objects of the issue of prospectus Proceeds from fresh issue (net) Amount utilized up to 31st March, 2026 Prepayment of outstanding borrowings 11,226.74 5,236.74 General corporate purpose 265.72 - Total 11,492.46 5,236.74 Objects of the issue of prospectus Amount utilised during Total amount unutilised the quarter ended 30th June, 2026 upto 30th June, 2026 Prepayment of outstanding 5,990.00 - borrowings General corporate purpose 265.72 - Total 6,255.72 - The IPO proceeds towards issue expenses in respect of fresh issue aggregating to Rs. 120.70 million is currently unutilised and parked in an escrow account. During the quarter ended 30th June, 2026, the Company has pre-paid its 11.50% p.a Listed, Rated, Redeemable, Non-Convertible Debentures and 11.50% p.a Unlisted, Rated, Redeemable, Non-Convertible Debentures, having aggregate principal amounting to Rs. 5,990 million on 2nd April, 2026 out of its IPO proceeds from fresh issue of equity shares. The original repayment of these debentures was due on 08th June 2027. As at 30th June, 2026, the Company's current liabilities exceeded its current assets by Rs. 15,199.95 million. Given the nature of its business and based on current overall business plan which includes projected cash flows from operations and sanctioned but undrawn credit facilities from lenders, the roll forward and refinance options available to optimize working capital limits, and the proposed issuance of Non-Convertible Debentures (as referred in Note 10), the Board of Directors is of the view that Company has adequate resources to meet its obligations as and when they fall due and does not anticipate any material uncertainty related to going concern. Accordingly, the unaudited standalone financial results have been prepared on a going concern basis. The Board of Directors of the Company, at its meetings held on 10th November 2025, approved the sale of the Company's investments in certain subsidiaries to Clean Max Taurus Private Limited (Group Company) as part of a strategic reorganization. Consequently, the Company has recognized a net loss of Rs. 77.80 million on the sale of these investments. Subsequently, the Company and Apple India Private Limited entered into a strategic investment transaction in Clean Max Taurus Private Limited, with equity participation in the ratio of 51:49, respectively. The Board of Directors, at its meeting held on 31st July, 2026, approved the scheme of amalgamation of four wholly owned subsidiaries Clean Max Aditya Power Private Limited, Clean Max IPP 1 Private Limited, CMES Power 1 Private Limited and CMES Infinity Private Limited (“Amalgamating Companies”) with the Company, subject to approval from the Hon’ble The National Company Law Tribunal, Mumbai and other regulatory authorities. The amalgamation is aimed at improving operational and management efficiencies and streamlining business operations across the group and hence, it will not have any impact on the unaudited standalone financial results. The Board of Directors of the Company, at its meeting held on 31st July, 2026, approved the issuance of listed, rated, secured, redeemable Non-Convertible Debentures (NCDs), on a private placement basis to certain identified investors, for an amount up to Rs. 25,000 million, in one or more tranches/series, subject to such approvals as may be required. The proceeds from the proposed issue of NCDs are intended to be utilized as per the terms agreed in the debenture trust deed which includes capital expenditure for projects and repayment/prepayment of long-term borrowings, general corporate purposes, etc. The Company in extra-ordinary general meeting dated 27th June, 2025, had approved split of each equity share of face value of Rs. 10 each into 10 shares of face value of Re. 1 each (the 'Split'). Further, pursuant to a resolution passed in extra-ordinary general meeting dated 8th August, 2025, Shareholders have approved the issuance of bonus shares to the equity shareholders in the ratio of (the 'Bonus'). The effect of Split and Bonus issues has been adjusted for the quarter ended 30th June, 2025 while calculating Earnings Per Share (EPS). Figures for the unaudited standalone financial results for quarter ended 30th June, 2025 were reviewed by the predecessor auditor who had expressed an unmodified conclusion via report dated 29th August, 2025. Figures for the quarter ended March 31, 2026 represent the difference between the audited figures for the year ended 31st March, 2026 and the published year to date figures for the nine months period ended December 31, 2025. The above Unaudited Standalone Financial Results of the Company are available on the Company's website (www.cleanmax.com) and that of NSE (www.nseindia.com) and BSE (www.bseindia.com) |