Clean Max Enviro Energy Solutions Limited has announced the outcome of its postal ballot conducted through remote e-voting, which concluded on May 17, 2026. The scrutinizer, Ms. Nikita Mahavir Kothari of N Kothari & Associates, submitted her report on May 19, 2026, confirming that all 48 resolutions listed in the notice were passed with the requisite majority.

The resolutions included special resolutions to amend the Object Clause and Articles of Association of the company. Shareholders also approved the appointment of Mr. Dinesh Khara (DIN: 06737041) as a Non-Executive Independent Director and his remuneration. Furthermore, the company ratified the “Amended and Restated Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 – Amended 2026” and approved the extension of its benefits to employees of subsidiary companies.

A significant portion of the ballot concerned material related party transactions. Shareholders approved transactions between the company and its wholly owned subsidiaries, such as Clean Max Ahhope Private Limited and Clean Max Alchemy Private Limited. Resolutions also covered transactions with other subsidiaries, including Clean Max Astria Private Limited and Clean Max Centaurus Private Limited, as well as fellow subsidiaries like Clean Max Vayu Private Limited and Clean Max Sphere Energy Private Limited.

The e-voting process was managed by MUFG Intime India Private Limited. The cut-off date for determining voting entitlements was April 10, 2026. The detailed results and the scrutinizer’s report have been uploaded to the company’s website and the Registrar and Share Transfer Agent’s portal.

Voting Summary

Clean Max Enviro Energy Solutions Limited reported its audited standalone and consolidated financial results for the quarter and year ended 31 March 2026. The company achieved its highest ever consolidated EBITDA of ₹1,295 crore, while Run-Rate EBITDA reached ₹1,870 crore as of April 1, 2026. The earnings conference call transcript was made available on the company's website on May 18, 2026.

Consolidated Financial Performance

For the full year FY26, revenue from operations increased 28% to ₹1,913 crore from ₹1,496 crore in FY25. Reported Profit After Tax (PAT) surged 340% to ₹85.6 crore compared to ₹19.4 crore in the previous year. On a quarterly basis, Q4 FY26 revenue stood at ₹557 crore, a 25% increase from ₹446 crore in Q4 FY25, while PAT for the quarter rose 165% to ₹45.4 crore from ₹17.2 crore. Funds Flow from Operations (FFO) for the power business grew 71% to ₹546 crore in FY26.

Operational Capacity and Run-Rate EBITDA

Operational capacity grew nearly 80% year-on-year to approximately 3.1 GW, comprising 2,442 MWp solar and 646 MW wind. The contracted renewable energy power sales portfolio reached approximately 5.7 GW as of 31 March 2026. Run-Rate EBITDA reflects annualised earnings from the full commissioned fleet at steady state.

Strategic Partnerships and Financial Metrics

The company maintained a Net Debt/Adjusted EBITDA ratio of approximately 4.75x. Strategic partnerships included an investment of approximately ₹104 crore with Apple in a 150 MW renewable energy portfolio and an initial investment of ₹176 crore from Osaka Gas. Demand from the Data & AI segment contributed approximately 42% of the contracted RE power sales portfolio.

Management Guidance and Outlook

During the earnings conference call, management shared key guidance and strategic observations for the year ahead. While the company does not provide a formal EBITDA forecast for the next year, management noted that historically, reported EBITDA has been approximately 1.1x the run-rate EBITDA. The guidance for new RE power sales capacity addition in FY26-27 is at least 1,500 megawatts (1.5 gigawatts), and notably, this entire capacity expected to be commissioned is already 100% contracted at the start of the fiscal year.

On the contracting pipeline, management highlighted that 1,400 megawatts of new contracts were signed in FY25-26, matching the 1,400 megawatts commissioned during the same period, indicating active replenishment of the pipeline. The mix of wind and solar, as well as the share of Data & AI within the pipeline, is not expected to change based on current observations.