Clean Max Enviro Energy Solutions Ltd.

•

cleanmax.comBSE: 544717NSE: CLEANMAX

Market Cap₹ 16,229 Cr.

Current Price

High / Low₹ 1,536 / 727

Stock P/E21.1

Book Value₹ 503

Price to Book1.62

Dividend Yield0.00 %

ROCE22.1 %

ROE17.3 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Renewable Power Projects: 73.2% • Renewable Energy Services: 26.0% • Other Unallocable: 0.8%

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Latest quarter profit grew 20227.3% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.03x)
Operating margins have improved to 18.4% from 15.1%
Attractively priced for its growth - PEG of 0.3
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (34.1% of PBT)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 222.8%
Contingent liabilities are large at 128.0% of net worth
Total debt has risen sharply - up 39.7% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ADANIPOWER	204.75	27.70	394854.12	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	332.00	11.60	321929.32	2.71	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	266.95	15.62	248279.62	3.37	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1288.95	119.01	212312.77	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1390.00	58.23	169990.67	0.00	12365.60	2194.43	97110.80	1324.06	9.71	31.27
6.	TATAPOWER	365.00	30.19	116629.89	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	529.90	49.39	97156.25	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	75.76	20.04	76101.18	2.13	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	88.18	122.42	74303.38	0.00	304.84	38.26	1106.86	62.72	3.73	91.95
10.	TORNTPOWER	1275.35	27.65	64265.34	1.57	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	269.35	11.64	37349.06	1.43	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	CLEANMAX	1380.85	172.41	16229.37	0.00	551.74	3102.58	8321.56	1767.89	6.69	20.03

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026	Jun 2026
	639	1,039	1,128	1,521	1,897	2,125
	488	886	1,015	1,146	1,669	1,829
Operating Profit	151	153	113	375	227	296
OPM %	23.60%	14.70%	9.99%	24.68%	11.99%	13.94%
	48	57	62	91	111	172
Interest	46	61	52	95	136	108
Depreciation	10	11	10	14	13	14
Profit before Tax	142	138	174	357	189	468
Tax %	26.68%	17.38%	23.39%	24.35%	34.02%	25.21%
Net Profit	104	114	134	270	124	350
	10.97	11.45	13.16	26.44	11.93	29.90

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,776	2,106	2,270	6,003	6,671
	2,424	1,655	1,841	4,898	5,659
Operating Profit	352	452	430	1,106	1,012
OPM %	12.70%	21.45%	18.93%	18.42%	15.17%
	-22	122	190	354	435
Interest	103	155	192	370	391
Depreciation	18	30	39	50	52
Profit before Tax	209	389	389	1,039	1,189
Tax %	36.90%	27.43%	23.39%	26.15%	26.08%
Net Profit	132	282	298	767	879
EPS	348.87	641.99	587.80	65.54	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: 29%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 80%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 14%
Last Year:: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4	4	5	12
	1,523	2,429	3,306	5,553
	892	1,143	1,540	2,159
Trade Payables	1,164	766	1,269	3,290
	466	588	1,180	2,062
Total Liabilities	4,049	4,929	7,300	13,076
	335	707	852	1,149
Capital Work in Progress	359	86	226	546
	1,509	2,041	2,946	3,843
	67	35	49	181
	0	642	376	788
Cash & Bank	134	57	286	1,439
	1,646	1,361	2,565	5,130
Total Assets	4,049	4,929	7,300	13,076

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	957	58	1,083	2,945
Cash from Investing	-1,553	-707	-1,677	-3,741
Cash from Financing	597	636	779	1,671
	-9	-13	185	874

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Feb 2026	Mar 2026	Jun 2026
	49.48	49.48	49.42
	29.94	29.80	11.21
	15.19	14.75	14.67
Government	0.00	0.00	0.00
	5.40	5.97	24.70

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Press Release

2026-09-08 - Clean Max Enviro Energy Solutions Limited has informed the Exchange regarding a press release dated September 08, 2026, titled Crisil Ratings Assigns CRISIL AA/Stable Corporate Credit Rating to CleanMax Affirms Market Leadership and Prudent Financial Discipline.

2026-09-07

Credit Rating- New

2026-09-07 - Clean Max Enviro Energy Solutions Limited has informed the Exchange about Credit Rating- New

2026-09-03

ESOP/ESOS/ESPS

2026-09-03 - Clean Max Enviro Energy Solutions Limited has informed the Exchange regarding Allotment of 46978 Shares.

2026-08-28

General Updates

2026-08-28 - Clean Max Enviro Energy Solutions Limited has informed the Exchange about General Updates

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Clean Max Enviro Energy Solutions Limited has informed the Exchange about Schedule of meet

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Clean Max Enviro Energy Solutions Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-26

General Updates

2026-08-26 - Clean Max Enviro Energy Solutions Limited has informed the Exchange about General Updates

2026-08-25

Shareholders meeting

2026-08-25 - Clean Max Enviro Energy Solutions Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-21

ESOP/ESOS/ESPS

2026-08-21 - Clean Max Enviro Energy Solutions Limited has informed the Exchange regarding Allotment of 13562 Shares.

News

Recent coverage and analyst commentary for CLEANMAX

Loading news…

🤖

AI Stock Analyst

Clean Max Enviro Energy Solutions Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

ADANIPOWER

204.75

27.70

394854.12

0.00

4866.60

47.24

18901.89

33.97

17.79

42.67

NTPC

332.00

11.60

321929.32

2.71

6896.44

-88.71

50740.96

7.81

8.52

33.23

POWERGRID

266.95

15.62

248279.62

3.37

3598.42

-0.89

11496.72

2.68

9.74

82.97

ADANIGREEN

1288.95

119.01

212312.77

0.00

983.00

19.30

4431.00

16.61

9.90

91.24

ADANIENSOL

1390.00

58.23

169990.67

0.00

12365.60

2194.43

97110.80

1324.06

9.71

31.27

TATAPOWER

365.00

30.19

116629.89

0.68

1400.86

10.98

19051.26

5.63

11.63

21.53

JSWENERGY

529.90

49.39

97156.25

0.38

532.70

-36.27

5207.13

1.24

8.50

55.22

NHPC

75.76

20.04

76101.18

2.13

1178.09

4.15

3808.31

18.50

6.16

61.80

NTPCGREEN

88.18

122.42

74303.38

0.00

304.84

38.26

1106.86

62.72

3.73

91.95

TORNTPOWER

1275.35

27.65

64265.34

1.57

661.85

-10.75

8124.15

2.75

14.37

18.93

NLCINDIA

269.35

11.64

37349.06

1.43

436.33

-48.01

4716.75

23.29

11.27

32.83

CLEANMAX

1380.85

172.41

16229.37

0.00

551.74

3102.58

8321.56

1767.89

6.69

20.03

Dec 2024

Mar 2025

Jun 2025

Dec 2025

Mar 2026

Jun 2026

639

1,039

1,128

1,521

1,897

2,125

488

886

1,015

1,146

1,669

1,829

Operating Profit

151

153

113

375

227

296

OPM %

23.60%

14.70%

9.99%

24.68%

11.99%

13.94%

111

172

Interest

136

108

Depreciation

Profit before Tax

142

138

174

357

189

468

Tax %

26.68%

17.38%

23.39%

24.35%

34.02%

25.21%

Net Profit

104

114

134

270

124

350

10.97

11.45

13.16

26.44

11.93

29.90

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,776

2,106

2,270

6,003

6,671

2,424

1,655

1,841

4,898

5,659

Operating Profit

352

452

430

1,106

1,012

OPM %

12.70%

21.45%

18.93%

18.42%

15.17%

-22

122

190

354

435

Interest

103

155

192

370

391

Depreciation

Profit before Tax

209

389

1,039

1,189

Tax %

36.90%

27.43%

23.39%

26.15%

26.08%

Net Profit

132

282

298

767

879

EPS

348.87

641.99

587.80

65.54

—

Dividend Payout %

0.00%

—

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

1,523

2,429

3,306

5,553

892

1,143

1,540

2,159

Trade Payables

1,164

766

1,269

3,290

466

588

1,180

2,062

Total Liabilities

4,049

4,929

7,300

13,076

335

707

852

1,149

Capital Work in Progress

359

226

546

1,509

2,041

2,946

3,843

181

642

376

788

Cash & Bank

134

286

1,439

1,646

1,361

2,565

5,130

Total Assets

4,049

4,929

7,300

13,076

Mar 2023

Mar 2024

Mar 2025

Mar 2026

957

1,083

2,945

Cash from Investing

-1,553

-707

-1,677

-3,741

Cash from Financing

597

636

779

1,671

-9

-13

185

874

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Feb 2026

Mar 2026

Jun 2026

49.48

49.42

29.94

29.80

11.21

15.19

14.75

14.67

Government

0.00

5.40

5.97

24.70

Clean Max Enviro Energy Solutions Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Clean Max Enviro Energy Solutions Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI