Integrated Filing — IndAS



General information about company

Scrip Code 544717
NSE Symbol CLEANMAX
MSEI Symbol NOTLISTED
ISIN INE647U01026
Name of company CLEAN MAX ENVIRO ENERGY SOLUTIONS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 31-07-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 27-07-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter First quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 31-07-2026   15:00:00
End date and time of board meeting 31-07-2026   18:00:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 83,215.60 83,215.60
Other income 4,194.60 4,194.60
Total income 87,410.20 87,410.20
2 Expenses
(a) Cost of materials consumed 28,971.80 28,971.80
(b) Purchases of stock-in-trade 916.40 916.40
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 3,226.50 3,226.50
(e) Finance costs 25,471.10 25,471.10
(f) Depreciation, depletion and amortisation expense 11,463.40 11,463.40
(f) Other Expenses
1 Other Expenses 8,009.30 8,009.30
Total other expenses 8,009.30 8,009.30
Total expenses 78,058.50 78,058.50
3 Total profit before exceptional items and tax 9,351.70 9,351.70
4 Exceptional items 0.00 0.00
5 Total profit before tax 9,351.70 9,351.70
6 Tax expense
7 Current tax 5,033.20 5,033.20
8 Deferred tax (1,151.00) (1,151.00)
9 Total tax expenses 3,882.20 3,882.20
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 5,469.50 5,469.50
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 47.90 47.90
16 Total profit (loss) for period 5,517.40 5,517.40
17 Other comprehensive income net of taxes 2,974.00 2,974.00
18 Total Comprehensive Income for the period 8,491.40 8,491.40
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 4,851.70 4,851.70
Total profit or loss, attributable to non-controlling interests 665.70 665.70
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 7,825.70 7,825.70
Total comprehensive income for the period attributable to owners of parent non-controlling interests 665.70 665.70
21 Details of equity share capital
Paid-up equity share capital 1,172.20 1,172.20
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 4.14 4.14
Diluted earnings (loss) per share from continuing operations 4.11 4.11
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 4.14 4.14
Diluted earnings (loss) per share from continuing and discontinued operations 4.11 4.11
24 Debt equity ratio 2.3700 2.3700
25 Debt service coverage ratio 1.4200 1.4200
26 Interest service coverage ratio 2.2800 2.2800
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Clean Max Enviro Energy Solutions Limited (formerly known as Clean Max Enviro Energy Solutions Private Limited) (the Parent Company), its subsidiaries (the Company and its subsidiaries together referred to as the Group) and its joint ventures are engaged in developing renewable power projects and in generation and sale of green power. The status of the Parent 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 Parent 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 Parent Company were listed on National Stock Exchange of India Limited (NSE) and BSE limited (BSE) on 02nd March, 2026. The above unaudited consolidated 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 consolidated financial results have been subject to “Limited Review” by the statutory auditors of the Parent Company and they have expressed an unmodified conclusion on the unaudited consolidated financial results. The unaudited consolidated financial results of the Group and its joint ventures 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 segment reporting of the Group and its joint ventures has been prepared in accordance with Ind AS 108 on Operating Segment as attached in Annexure II. The Managing Director of the Group and its joint ventures has been identified as Chief Operating Decision Maker (CODM) who allocates the resources based on analysis of various performance indicator of the Group and its joint ventures. 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 Parent Company has prepaid 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 02nd 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 Group's and its joint ventures current liabilities exceeded its current assets by Rs.12,761.60 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 the Group and its joint ventures have 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 consolidated financial results have been prepared on a going concern basis. Pursuant to the share purchase agreement dated 06th May, 2025 with Apple India Private Limited, the Parent Company has diluted 49% of its total investments in Clean Max Taurus Private Limited. During the quarter ended 30th June, 2026, the said transaction is completed on 14th May, 2026. 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 Parent 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 consolidated financial results. The Board of Directors of the Parent 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 at group level, general corporate purpose, etc. The Parent 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 unaudited consolidated financial results for the quarter ended 30th June, 2025 have been approved by the Parent Company's Board of Directors in their meeting held on 31st July, 2026. Figures for the quarter ended 31st March, 2026 represent the difference between the audited figures for the financial year ended 31st March, 2026 and the published year to date figures for the nine months period ended 31st December, 2025. The above unaudited Consolidated Financial Results of the Group and its joint ventures are available on the Parent Company's website (www.cleanmax.com) and that of NSE (www.nseindia.com) and BSE (www.bseindia.com) Financial Results of Clean Max Enviro Energy Solutions Limited (Formerly known as Clean Max Enviro Energy Solutions Private Limited) (Rs. in Million) Particulars Quarter Ended Year Ended 30.06.2026 31.03.2026 30.06.2025 31.03.2026 Unaudited Unaudited Audited Total Income* 22,972.75 20,017.81 11,896.55 63,573.12 Profit before tax for the quarter/year 4,682.17 1,886.93 1,743.26 10,390.65 Profit after tax for the quarter/year 3,501.99 1,244.94 1,335.45 7,673.49 *Includes Revenue from Operations & Other Income



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026 01-04-2026
Date of end of reporting period 30-06-2026 30-06-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Segment A - Renewable Energy Power Sales 52,825.70 52,825.70
2 Segment B - Renewable Energy Services 30,014.70 30,014.70
3 Other unallocable 0.003752 0.003752
Total Segment Revenue 83,215.60 83,215.60
Less: Inter segment revenue
Revenue from operations 83,215.60 83,215.60
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Segment A - Renewable Energy Power Sales 25,773.90 25,773.90
2 Segment B - Renewable Energy Services 1,526.70 1,526.70
3 Other unallocable (6,437.70) (6,437.70)
Total Profit before tax 20,862.90 20,862.90
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income 15,345.50 15,345.50
Profit before tax 5,517.40 5,517.40
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Segment A - Renewable Energy Power Sales 21,03,306.90 21,03,306.90
2 Segment B - Renewable Energy Services 1,82,772.30 1,82,772.30
3 Other unallocable 0.00 0.00
Total Segment Asset 22,86,079.20 22,86,079.20
Un-allocable Assets 1,83,116.20 1,83,116.20
Net Segment Asset 24,69,195.40 24,69,195.40
4 Segment Liabilities
Segment Liabilities
1 Segment A - Renewable Energy Power Sales 17,48,005.70 17,48,005.70
2 Segment B - Renewable Energy Services 45,557.30 45,557.30
3 Other unallocable 0.00 0.00
Total Segment Liabilities 17,93,563.00 17,93,563.00
Un-allocable Liabilities 92,468.80 92,468.80
Net Segment Liabilities 18,86,031.80 18,86,031.80
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) a. Renewable Energy Power Sales is the segment that sells electricity to customers through long-term PPAs and EAPAs, with offerings including Onsite Solar, Offsite, STU-Connected, and CTU-Connected. b. Renewable Energy Services Segment includes third party Engineering Procurement and Commission services and carbon services. c. Unallocable Income and Expenses i. Unallocable income includes cash flow hedges - ineffective portion of changes in fair value, profit on derecognition of ROU, Net foreign exchange gain, Interest income from amortisation of financial liability, gain on modification of borrowing terms, gain on change of ownership interest in subsidiary, gain on sale of property, plant and equipment (net) and gain on financial assets classified at fair value through profit and loss ii. Unallocable expense include gratuity expense, employee share based payment expenses, net foreign currency exchange loss, bad debts written off, expected credit loss allowance, MTM loss on forward contracts (net), non-operating sundry expense, loss on derecognition of ROU and loss on assets sold/written off. d. Segment Assets and Segment Liabilities are as at 30th June, 2026, 30th June, 2025 and 31st March, 2026. Unallocable assets and liabilities mainly includes deferred tax asset and liabilities, income tax assets and liabilities, security deposit, cash and cash equivalents and statutory obligations.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026 01-04-2026
B Date of end of reporting period 30-06-2026 30-06-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement (losses)/gain of the defined benefit obligation (15.70) (15.70)
Total Amount of items that will not be reclassified to profit and loss (15.70)
2 Income tax relating to items that will not be reclassified to profit or loss (3.90) (3.90)
3 Amount of items that will be reclassified to profit and loss
1 Exchange differences on translation of financial statements of foreign operations 2,155.30 2,155.30
2 Effective portion of gains in a cash flow hedge 1,109.80 1,109.80
Total Amount of items that will be reclassified to profit and loss 3,265.10
4 Income tax relating to items that will be reclassified to profit or loss 279.30 279.30
5 Total Other comprehensive income 2,974.00 2,974.00