Clean Max Enviro Energy Solutions, India’s largest renewable energy provider for the commercial & industrial (C&I) segment, reported strong growth in revenue and profitability during FY2025–26, achieving its highest-ever EBITDA.
Revenue from operations increased to INR 1,913 crore, representing a 28% increase over INR 1,496 crore in FY2024–25. EBITDA increased 28% year-on-year to INR 1,295 crore.
Profit After Tax (PAT) surged 4.4x to INR 85.6 crore, compared to INR 19.4 crore in FY2024–25.
Q4 FY2026
Revenue from operations for Q4 FY2026 stood at INR 557 crore, a 25% increase YoY. EBITDA for Q4 FY2026 grew 14% year-on-year to INR 350 crore, while PAT surged 165% year-on-year to INR 45.4 crore.
The company stated that its renewable energy power sales business continued to demonstrate strong operating leverage and margin expansion during FY2025–26. EBITDA margins improved from 81.9% in FY2024–25 to 83.5% in FY2025–26.
Financing and capital efficiency metrics continued to strengthen during FY2025–26, supported by lower borrowing costs, disciplined leverage, and efficient capital deployment across projects. Strategic partnerships also continued to support growth in a capital-efficient manner during the year, said the company.
Key performance highlights
CleanMax’s contracted renewable energy power sales portfolio reached 5.7 GW as of March 31, 2026. This includes 3.1 GW of operational capacity and 2.6 GW of capacity under execution. Including the RE Services business, the total contracted portfolio reached 6.5 GW.
Demand from the Data and AI segment continued to be a major growth driver, with the segment now contributing 42% of CleanMax’s contracted renewable energy power sales portfolio. Contracted capacity from this high-potential segment grew nearly tenfold, from 254 MW in FY2023–24 to 2,380 MW in FY2025–26.
During FY2025–26, the company also commissioned its first 525 MWp CTU-connected project in Bikaner, Rajasthan, aimed at supplying renewable energy offsets to large technology customers.
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