Clean Max Enviro Energy Solutions has allotted 2 lakh equity shares of the face value of Re 1 each fully paid up, as reported by Business Standard. The allotment comprises 1 lakh shares pursuant to exercise of vested stock options at an exercise price of Re 1 per option, and 1 lakh bonus shares allotted pursuant to the bonus issuance in the ratio of 1:1 approved by shareholders through resolution dated 8 August 2025.
The bonus shares were allotted under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 as amended from time to time (CMES ESOS) to eligible employees, according to Business Standard reports. The scheme provides for employee stock options as part of the company's employee compensation structure.
Consequent to the allotment, the paid-up share capital of the company shall stand increased from ₹11,72,71,170 to ₹11,74,71,170, as reported by Business Standard. This represents a modest increase of ₹2,00,000 in the company's share capital following the employee share allotment.
CleanMax's latest financial results demonstrate robust growth momentum, with consolidated revenue more than doubling in Q1FY27 while adjusted EBITDA rose 74% and the company swung to a net profit of ₹55 crore compared with a loss of ₹17 crore a year earlier. The company's Renewable Energy Power Sales revenue rose 47% to ₹528 crore, while Renewable Energy Services revenue increased 7.3 times to ₹300 crore. Power sales contributed 63.5% of revenue and services accounted for 36% of the total revenue mix.
Despite strong financial performance, the company faces increased leverage with net debt reaching ₹11,809 crore and management expecting it to rise further by FY28. The annualised net debt-to-EBITDA ratio stands at 4.7 times, with management guiding for steady-state net debt to reach ₹16,000 crore by FY28. The company has set a target for minimum reported EBITDA of ₹3,000 crore by FY28, more than twice its FY26 EBITDA of ₹1,295 crore.
