Clean Max Enviro Energy Solutions Limited Share Price & Analysis
Price Chart
Fundamentals
Concerns
- ✗Premium to sector peers (P/E 234x vs industry 51.1x)
- ✗Heavy debt load (D/E 2.7x)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| ADANIPOWER Adani Power Limited | ₹217 | ₹4.1L Cr | 32.4 | 6.44 | 21.1 | 17.2 | 0.83 |
| NTPC NTPC Limited | ₹350 | ₹3.3L Cr | 12.2 | 1.67 | 14 | 8.33 | 1.33 |
| POWERGRID Power Grid Corporation of India Limited | ₹289 | ₹2.6L Cr | 16.6 | 2.68 | 16.5 | 9.74 | 1.37 |
| ADANIGREEN Adani Green Energy Limited | ₹1,472 | ₹2.5L Cr | 136 | 12.17 | 11.4 | 7.39 | 5.19 |
| ADANIENSOL Adani Energy Solutions Limited | ₹1,729 | ₹2.1L Cr | 92.3 | 8.16 | 9.44 | 9.65 | 1.93 |
| TATAPOWER Tata Power Company Limited | ₹378 | ₹1.2L Cr | 31.3 | 3.05 | 10.2 | 10.5 | 1.86 |
| JSWENERGY JSW Energy Limited | ₹561 | ₹99K Cr | 45.5 | 3.21 | 7.51 | 8.16 | 2.37 |
Showing 7 peers in the same sector · Sorted by market cap
Corporate Events
Board Meeting Intimation for Considering and Approving the Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended 31 March 2026
Latest News
All news →CleanMax commissions record 500 MW in Q1 FY27
*CleanMax commissions record 500 MW in Q1 FY27* — Clean Max Enviro Energy Solutions announced a record commissioning of **over 500 MW** of renewable energy projects in Q1 FY27, boosting its operational portfolio to **4.2 GW**. This marks the highest quarterly addition in the company’s history. The strong execution reflects rising demand for clean energy solutions and could enhance future revenue visibility. 📊 *STOCKS:* CLEANMAX | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Renewables
Meta, CleanMax partner on 900 MW renewable energy project in India
*Meta, CleanMax partner on 900 MW renewable energy project in India* — CleanMax announced a strategic partnership with Meta to develop approximately **900 MW** of renewable energy capacity in India. The collaboration aims to support Meta’s global sustainability goals while boosting CleanMax’s project pipeline. This reinforces CleanMax’s position in the corporate renewable energy space. 📊 *STOCKS:* CLEANMAX | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #RenewableEnergy
Clean Max allots 8,740 shares via ESOP
*Clean Max allots 8,740 shares via ESOP.* Clean Max Enviro Energy Solutions Limited has allotted **8,740 equity shares** under its employee stock ownership plan. The allotment is part of its ESOP/ESOS/ESPS program. No financial impact is expected as the number is small. 📊 *STOCKS:* CLEANMAX | 🏢 *SECTOR:* Energy | #LOWIMPACT #ESOP
Clean Max to host investor meet for analyst updates.
*Clean Max to host investor meet for analyst updates.* The company is scheduled to conduct an analyst and institutional investor meet to share business updates. Specific date and time will be disclosed in due course. No financial figures or strategic announcements were revealed in the filing. 📊 *STOCKS:* CLEANMAX | 🏢 *SECTOR:* Corporate | #LOWIMPACT #InvestorMeet
Apple India acquires full stake in Clean Max Taurus
*Apple India acquires full stake in Clean Max Taurus.* The deal strengthens Apple’s renewable energy footprint in India. Clean Max Taurus is a leading player in the clean energy sector with **500+ MW** of operational projects. Financial terms were not disclosed. 📊 *STOCKS:* | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Acquisition
Apple, CleanMax finalize ₹100 Cr renewable energy deal
*Apple, CleanMax finalize ₹100 Cr renewable energy deal.* The agreement strengthens CleanMax's position in the green energy space with a major international client. The deal supports Apple’s global carbon-neutral goals. 📊 *STOCKS:* CLEANMAX | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #RenewableEnergy
Law firm advises on credit facilities for Clean Max Tasman
Cyril Amarchand Mangaldas provided legal advice to lenders for external commercial borrowing and credit facilities for Clean Max Tasman. The deal supports the company’s renewable energy projects. Specific financial terms were not disclosed. 📊 *STOCKS:* | 🏢 *SECTOR:* Corporate | #LOWIMPACT #legal
Legal firm advises lenders on Clean Max Tasman financing
*Legal firm Cyril Amarchand Mangaldas advises lenders on credit facilities for Clean Max Tasman.* The deal involves external commercial borrowing for a clean energy venture. No specific financial figures or company names are disclosed. This is a routine advisory assignment with limited market impact. 📊 *STOCKS:* | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Legal
Financials
Quarterly Results
| Metric | Mar 2026 | Dec 2025 | Sep 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|
| Revenue | ₹557 Cr ▲32.0% | ₹422 Cr ▼20.5% | ₹531 Cr ▲19.1% | ₹446 Cr ▲19.3% | ₹374 Cr |
| Op. Profit | ₹268 Cr ▲1.9% | ₹263 Cr ▼21.5% | ₹335 Cr ▲30.4% | ₹257 Cr ▲39.7% | ₹184 Cr |
| OPM | 48.0% ▼22.6% | 62.0% ▼1.6% | 63.0% ▲8.6% | 58.0% ▲18.4% | 49.0% |
| Net Profit | ₹45 Cr ▲114.3% | ₹21 Cr ▼41.7% | ₹36 Cr ▲111.8% | ₹17 Cr ▲525.0% | ₹-4 Cr |
| EPS (₹) | 4.73 ▲75.8% | 2.69 ▲8.0% | 2.49 ▼94.3% | 43.39 ▲794.6% | 4.85 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Revenue | ₹1.9K Cr ▲27.9% | ₹1.5K Cr ▲7.6% | ₹1.4K Cr ▲49.5% | ₹930 Cr ▲32.5% | ₹702 Cr ▲13.0% | ₹621 Cr |
| Expenses | ₹781 Cr ▲31.3% | ₹595 Cr ▼13.0% | ₹684 Cr ▲23.2% | ₹555 Cr ▲36.7% | ₹406 Cr ▲6.6% | ₹381 Cr |
| Op. Profit | ₹1.1K Cr ▲25.6% | ₹901 Cr ▲27.6% | ₹706 Cr ▲88.3% | ₹375 Cr ▲27.1% | ₹295 Cr ▲22.9% | ₹240 Cr |
| OPM | 59.0% ▼1.7% | 60.0% ▲17.6% | 51.0% ▲27.5% | 40.0% ▼4.8% | 42.0% ▲7.7% | 39.0% |
| Other Income | ₹169 Cr ▲48.2% | ₹114 Cr ▲356.0% | ₹25 Cr ▲143.1% | ₹-58 Cr ▼744.4% | ₹9 Cr ▼40.0% | ₹15 Cr |
| Interest | ₹786 Cr ▲18.6% | ₹663 Cr ▲31.5% | ₹504 Cr ▲132.3% | ₹217 Cr ▲29.9% | ₹167 Cr ▲18.4% | ₹141 Cr |
| Depreciation | ₹380 Cr ▲26.7% | ₹300 Cr ▲35.1% | ₹222 Cr ▲88.1% | ₹118 Cr ▲37.2% | ₹86 Cr ▲22.9% | ₹70 Cr |
| PBT | ₹135 Cr ▲159.6% | ₹52 Cr ▲940.0% | ₹5 Cr ▲127.8% | ₹-18 Cr ▼134.6% | ₹52 Cr ▲18.2% | ₹44 Cr |
| Tax % | 37.0% ▼51.9% | 77.0% ▼91.4% | 897.0% ▲275.3% | 239.0% ▲469.0% | 42.0% ▲0.0% | 42.0% |
| Net Profit | ₹86 Cr ▲352.6% | ₹19 Cr ▲150.0% | ₹-38 Cr ▲35.6% | ₹-59 Cr ▼296.7% | ₹30 Cr ▲20.0% | ₹25 Cr |
| EPS (₹) | 8.04 ▼85.4% | 54.89 ▲177.9% | -70.44 ▲60.9% | -179.97 ▼314.3% | 83.97 ▼74.9% | 334.17 |
| Div Payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|---|
| Liabilities | |||||||
| Equity Capital | ₹12 Cr ▲20.0% | ₹10 Cr ▲100.0% | ₹5 Cr ▲25.0% | ₹4 Cr ▲0.0% | ₹4 Cr ▲0.0% | ₹4 Cr ▲426.3% | ₹0.76 Cr |
| Reserves | ₹4.6K Cr ▲74.1% | ₹2.7K Cr ▲3.9% | ₹2.6K Cr ▲39.9% | ₹1.8K Cr ▲51.5% | ₹1.2K Cr ▼4.0% | ₹1.3K Cr ▲2414.0% | ₹50 Cr |
| Borrowings | ₹12.7K Cr ▲23.1% | ₹10.3K Cr ▲27.5% | ₹8.1K Cr ▲45.2% | ₹5.6K Cr ▲40.3% | ₹4.0K Cr ▲147.4% | ₹1.6K Cr ▲19.7% | ₹1.3K Cr |
| Other Liabilities | ₹5.2K Cr ▲31.8% | ₹4.0K Cr ▲67.3% | ₹2.4K Cr ▲62.0% | ₹1.5K Cr ▼13.4% | ₹1.7K Cr ▲96.2% | ₹862 Cr ▼30.5% | ₹1.2K Cr |
| Total Liabilities | ₹22.6K Cr ▲33.1% | ₹16.9K Cr ▲30.1% | ₹13.0K Cr ▲46.9% | ₹8.9K Cr ▲29.0% | ₹6.9K Cr ▲84.4% | ₹3.7K Cr ▲41.6% | ₹2.6K Cr |
| Assets | |||||||
| Fixed Assets | ₹12.0K Cr ▲25.1% | ₹9.6K Cr ▲18.6% | ₹8.1K Cr ▲21.2% | ₹6.6K Cr ▲127.0% | ₹2.9K Cr ▲36.3% | ₹2.1K Cr ▲5.8% | ₹2.0K Cr |
| CWIP | ₹5.3K Cr ▲49.5% | ₹3.6K Cr ▲86.9% | ₹1.9K Cr ▲181.3% | ₹680 Cr ▼74.7% | ₹2.7K Cr ▲344.9% | ₹603 Cr ▲438.4% | ₹112 Cr |
| Investments | ₹137 Cr ▲168.6% | ₹51 Cr ▼32.9% | ₹76 Cr ▼18.3% | ₹93 Cr ▲89.8% | ₹49 Cr ▲16.7% | ₹42 Cr ▲500.0% | ₹7 Cr |
| Other Assets | ₹5.1K Cr ▲36.1% | ₹3.8K Cr ▲26.4% | ₹3.0K Cr ▲105.7% | ₹1.4K Cr ▲19.4% | ₹1.2K Cr ▲29.8% | ₹934 Cr ▲94.2% | ₹481 Cr |
| Total Assets | ₹22.6K Cr ▲33.1% | ₹16.9K Cr ▲30.1% | ₹13.0K Cr ▲46.9% | ₹8.9K Cr ▲29.0% | ₹6.9K Cr ▲84.4% | ₹3.7K Cr ▲41.6% | ₹2.6K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Operating CF | ₹1.7K Cr ▲23.3% | ₹1.4K Cr ▲1532.6% | ₹86 Cr ▼90.7% | ₹928 Cr ▲113.8% | ₹434 Cr ▼11.2% | ₹489 Cr |
| Investing CF | ₹-6.0K Cr ▼65.1% | ₹-3.6K Cr ▼86.0% | ₹-1.9K Cr ▲35.6% | ₹-3.0K Cr ▼191.2% | ₹-1.0K Cr ▼102.7% | ₹-510 Cr |
| Financing CF | ₹5.1K Cr ▲105.4% | ₹2.5K Cr ▲38.7% | ₹1.8K Cr ▼16.6% | ₹2.1K Cr ▲268.4% | ₹582 Cr ▲1193.3% | ₹45 Cr |
| Net Cash Flow | ₹873 Cr ▲212.9% | ₹279 Cr ▲535.9% | ₹-64 Cr ▼204.9% | ₹61 Cr ▲458.8% | ₹-17 Cr ▼170.8% | ₹24 Cr |
| Free Cash Flow | ₹-4.0K Cr ▼160.4% | ₹-1.6K Cr ▲14.2% | ₹-1.8K Cr ▲8.0% | ₹-2.0K Cr ▼423.7% | ₹-375 Cr ▼1141.7% | ₹36 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
| Debtor Days | 53d ▲15.2% | 46d ▼30.3% | 66d ▼1.5% | 67d ▲28.8% | 52d ▲85.7% | 28d |
| Inventory Days | — | — | — | — | — | — |
| Days Payable | — | — | — | — | — | — |
| Cash Conv. Cycle | 53d ▲15.2% | 46d ▼30.3% | 66d ▼1.5% | 67d ▲28.8% | 52d ▲85.7% | 28d |
| Working Capital Days | -766d ▼77.3% | -432d ▼146.9% | -175d ▲63.0% | -473d ▼122.1% | -213d ▼26.0% | -169d |
| ROCE | 6.0% ▼14.3% | 7.0% ▼12.5% | 8.0% ▲14.3% | 7.0% ▼30.0% | 10.0% | — |
Source: Screener.in · Lower days = better efficiency
About Clean Max Enviro Energy Solutions Limited
The company is India’s largest Commercial & Industrial (C&I) renewable energy provider, with over 15 years of operating history.[1]
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