Clean Max Enviro issues fresh guidance

The Q1 FY27 letter text and the latest annual report capex deployment schedule are not reported in the available filing context. However, consolidated balance sheet figures for FY26 provide the financial scale of operational versus under-construction assets:

• Operational assets (Property, Plant, and Equipment): Rs 11,744.5 Crores on a consolidated basis for FY26 ^[1].
• Under-construction assets (Capital Work in Progress): Rs 5,339.2 Crores on a consolidated basis for FY26 ^[2].

Limits

Detailed capacity breakdowns in physical units (such as megawatts) from the Q1 FY27 letter and the specific milestone-wise capex deployment schedule from the annual report are not publicly available in the current retrieval set, preventing a precise alignment check against management's stated schedule.

Segment-wise disclosures separating 'Data & AI Growth' from the legacy C&I renewable power business are not reported in the latest quarterly filings for Q4 FY26.

While segment-level granularity for the Data & AI driver is absent from the disclosures, the aggregate financial performance reported for Q4 FY26 is as follows:

• Consolidated Performance: Total revenue was Rs 557.46 Crores with an EBITDA margin of 62.7% ^[3]. Consolidated EBITDA stood at Rs 349.74 Crores ^[4].
• Standalone Performance: Total revenue was Rs 1,896.6 Crores with an EBITDA margin of 17.8% ^[5]. Standalone EBITDA stood at Rs 337.93 Crores ^[6].

Implication: Because management and official filings do not provide a distinct revenue or EBITDA breakdown for the 'Data & AI Growth' segment versus the legacy C&I renewable power business, evaluating the relative contribution or margin divergence of the new driver is not possible from the current financial disclosures.

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