CMClean Max Enviro Energy Solutions544717Quarterly results

Q2 FY27 results: revenue ₹728 crore, PAT ₹65 crore, ₹2,500 crore green bond raised

Q2 FY27: revenue ₹728 crore (up 37% YoY), PAT ₹65 crore (up 82%).

By ScoutQuest · Tue 3 Nov 2026, 9:57 PM IST · 3 min read

Q2 FY27 Revenue

₹728 crore (up 37% YoY)

Q2 FY27 PAT

₹65 crore (up 82%)

Operational RE Power Sales Capacity

3,638 MW

Results snapshot

• Revenue from operations in Q2 FY27 was ₹728 crore, up 37% YoY from ₹531 crore.
• Reported PAT in Q2 FY27 was ₹65 crore, up 82% YoY from ₹36 crore.
• Revenue from operations in H1 FY27 was ₹1,560 crore, up 67% YoY from ₹933 crore.
• Reported PAT in H1 FY27 was ₹120 crore, compared with ₹19 crore in H1 FY26; the table shows a 532% YoY rise.
• Adjusted EBITDA in H1 FY27 was ₹1,047 crore, up 56% YoY. On a reported basis, EBITDA grew 58% from ₹638 crore to ₹1,011 crore.
• Q2 FY27 Adjusted EBITDA was ₹553 crore, up 43% YoY; reported EBITDA for the quarter was ₹548 crore, up 51%.

The company described the results as unaudited standalone and consolidated figures for the quarter and half year ended 30 September 2026, approved by the Board.

Operating numbers

• 550 MW of RE Power Sales capacity was commissioned in H1 FY27 across six states.
• Operational RE Power Sales capacity rose to 3,638 MW, up about 57% YoY.
• RE Power Sales operational and contracted capacity was 6.3 GW as of September 2026; RE Services added 0.8 GW, taking the total operational and contracted portfolio to 7.1 GW.
• The total platform, including grid evacuation available or applied for including CTU connectivity, was about 13 GW as on September 30, 2026, against 7.8 GW as on March 31, 2025.
• Weighted average PPA tenor was about 23 years, with 606 C&I customers.
• About 75% of contracted capacity is STU-connected and a quarter CTU-connected.
• Data Centres and AI infrastructure customers made up 41% of the contracted RE Power Sales portfolio, and about 85% of new contracted capacity in H1 came from repeat customers.

Funding and cost of capital

• The company raised ₹2,500 crore through India's first green bond issuance in the C&I renewable energy sector, at fixed coupons for tenors of up to ten years, with participation from development finance institutions, banks, mutual funds and other institutional investors.
• Weighted average cost of debt was 8.33% as of September 2026, down from 9.49% in March 2025.
• The credit rating is CRISIL AA/Stable.

What the company guides for

• In H2 FY27 it expects to execute at least about 450 MW of STU-connected and onsite projects, plus the 534 MW Koppal CTU project in Karnataka, planned to be commissioned in phases between December 2026 and March 2027.
• FY27 capacity addition guidance is a minimum of 1.5 GW of RE Power Sales capacity; the Managing Director said the company is comfortably placed to exceed it.
• It reiterated guidance of reported EBITDA above ₹3000 crores in FY28.

How to read this

• The release is heavy on growth rates, so the base matters: a small H1 FY26 PAT of ₹19 crore is what makes the H1 PAT growth rate look very large.
• Capacity additions, contracted GW and the cost of debt are the operating levers the company points to, alongside the green bond fund raise.
• The FY27 capacity addition and FY28 EBITDA figures are forward-looking guidance stated by the company, not reported results.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev