CleanMax shares rise as quarterly profit jumps and earnings beat market estimates

Strong Q2 Results

Shares of Clean Max Enviro Energy Solutions traded higher on Wednesday after the renewable energy company posted a sharp jump in second-quarter profit and revenue. Net profit rose 82.3% year-on-year to ₹64.9 crore for Q2 FY27, beating the estimated ₹42 crore. Revenue from operations climbed 37% to ₹727.6 crore. The broader platform capacity reached approximately 13 GW as of September 30, 2026.

Growth Drivers

The earnings beat was driven largely by higher power sales and a favorable business mix. EBITDA jumped 51% to ₹547.7 crore, beating the consensus estimate of ₹436 crore. Power sales revenue surged 67% to ₹604 crore with an 84% margin. For the first half of the fiscal year, revenue reached ₹1,560 crore and profit after tax surged past previous figures to ₹120 crore. Repeat customers accounted for 85% of newly contracted capacity.

Outlook and Brokerage Views

CleanMax reiterated its target to reach ₹3,000 crore in EBITDA by FY28 and plans to add more than 1.5 GW of capacity in FY27. Founder and Managing Director Kuldeep Jain noted that securing grid connectivity ahead of demand remains a key focus. Brokerage firm Macquarie maintained an 'Outperform' rating on the stock with a target price of ₹1,700 per share.

Context

Commercial and industrial power consumers in India increasingly turn to renewable energy suppliers to cut costs and meet green targets. CleanMax operates in this corporate clean energy segment, building contracted wind and solar portfolios to serve large business clients.