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CLEANMAX · Clean Max Enviro Energy Solutions Ltd · Electric Utilities

CLEANMAX · Clean Max Enviro Energy Solutions Ltd · Electric Utilities

₹1,276.5+2.2%

As of 05 Nov close

52-week range. Price history incomplete · as of 05 Nov 2026

Price chartDaily closes on the stock page.

Stock Condition:Pro

Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.

Full signal detail →

Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old

Revenue growth acceleratingFII holding falling for 2+ quartersDebt-to-equity above 1x

Revenue (latest Q)

₹832 Cr

Revenue YoY

PAT YoY

+441.7%

Operating margin

Revenue, last 7 quarters

P/E (TTM)

P/B

3.5

P/S (TTM)

7.2

Sector P/E

22.3

Dividend yield

0.0%

CompanyP/EP/BNet marginROED/EDiv. yield
CLEANMAX (this stock)99.83.5+6.7%+3.4%3.110.0%
Adani Power30.16+24.1%+21.9%0.840.0%
Power Grid Corporation of India16.82.5+40.4%+18.9%1.47+3.3%
Adani Green Energy136.310.4+13.2%+8.9%5.080.0%

Promoter

falling 1q

FII

MF

3.16% (+0.90pp)

rising 2q

Insider trades

DateInsiderTypeQtyValue
21 May 2026Vamsi Krishna PillaSELL2,036₹24.74 lakh
20 May 2026Vamsi Krishna PillaSELL48₹58,147
19 May 2026Pranjal PaulSELL5,000₹61.29 lakh
18 May 2026Anilkumar Madhukar MahajanSELL3,000₹36.6 lakh
18 May 2026Parthipan SSELL3,200₹38.88 lakh
15 May 2026Arsikere Vasanthkumar TejusSELL3,000₹39.57 lakh
15 May 2026Chintan ShahSELL1,000₹12.99 lakh
15 May 2026Paurush ChaturvediSELL6,379₹85.93 lakh
15 May 2026Ashu GuptaSELL20,540₹2.68 Cr
15 May 2026Hardhik PinjalaSELL770₹10.01 lakh
15 May 2026Sushant Arun NagreSELL1,100₹14.47 lakh
15 May 2026Viren Mahesh ShahSELL3,000₹38.75 lakh
15 May 2026Chandrashekhar Reddy C ASELL1,000₹12.89 lakh
15 May 2026Harrsita SanjeshSELL1,320₹17.17 lakh
15 May 2026Harrsita SanjeshSELL1,320₹17.17 lakh

Bulk/block deals

canonicalSymboldatebuy quantitybuyer countdeal strengthdeal types present
CLEANMAX2026-09-2826219233STRONGBULK
CLEANMAX2026-09-0300STRONGBULK

News timeline

No related news.

Concalls & investor presentations

AI-generated
Concall transcriptPositive07 Aug 2026
View source filing →

Key takeaway: During the earnings conference call for the quarter ended June 30, 2026, management reported significant growth in profit after tax (PAT), which reached INR 55 crores, driven by a doubling of revenues and improved EBITDA margins in both renewable energy power sales and services. The EBITDA margins increased from 76% to 84% in power sales and from 9% to 11% in services. Management highlighted the addition of 500 megawatts of new capacity in the first quarter and expressed confidence in meeting a goal of 1.5 gigawatts of new capacity for the fiscal year. They provided guidance for FY28, projecting a minimum EBITDA of INR 3,000 crores, nearly 2.4 times the FY26 figure. The company emphasized its strong position in the Data and AI segment, which constitutes 42% of contracted capacity, and noted a substantial pipeline of projects, particularly in the industrial sector, where contracted volumes have doubled over the last two years. The management also discussed ongoing efforts to lower borrowing costs and improve operational efficiency.

Management emphasized strong growth and operational improvements throughout the call.

Sourced from an exchange-filed transcript, dated 07 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive31 Jul 2026
View source filing →

Key takeaway: The investor presentation by Clean Max Enviro Energy Solutions Limited disclosed the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Management reported a significant increase in revenue from operations, reaching INR 8,322 million, a 107% growth year-over-year. Adjusted EBITDA also saw a substantial rise to INR 4,940 million, reflecting a 74% increase. The company highlighted that 42% of its contracted renewable power sales capacity is attributed to Data & AI customers, which is a major growth driver. Operational capacity grew to 3,493 MW, with 403 MW commissioned in Q1 FY27. The profit after tax turned positive at INR 552 million, compared to a loss in the previous year. The presentation emphasized strong contracting discipline, with 79% of new volumes contracted with existing customers. Overall, the document provided a comprehensive overview of the company's financial performance and operational highlights.

Management emphasized significant growth in revenue and operational capacity.

Sourced from an exchange-filed presentation, dated 31 Jul 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive18 May 2026
View source filing →

Key takeaway: During the earnings conference call for the financial year ending March 31, 2026, management reported that Clean Max Enviro Energy Solutions Limited achieved significant operational milestones, including a contracted renewable energy sales capacity of 5.7 GW, with 3.1 GW operational and 2.6 GW under execution. The company added 1,400 MW of new capacity in FY26. Financial highlights included an EBITDA of INR 1,295 crores, a 28% increase from the previous year, and a consolidated profit after tax of INR 86 crores, up from INR 19 crores. Management noted that 42% of contracted capacity is with Data and AI customers, reflecting a substantial growth from 14% two years prior. The company emphasized its diversified growth engines and strong repeat business rate of 74%. Management also discussed the impact of curtailment on certain projects and the ongoing efforts to manage costs and improve margins.

Management highlighted strong growth and operational achievements throughout the fiscal year.

Sourced from an exchange-filed transcript, dated 18 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive12 May 2026
View source filing →

Key takeaway: The investor presentation disclosed the audited standalone and consolidated financial results of Clean Max Enviro Energy Solutions Limited for the quarter and financial year ended March 31, 2026. Management reported a significant increase in operational capacity, achieving 3,088 MW, with a 28% year-over-year revenue growth to INR 19,129 million. EBITDA also rose to INR 12,946 million, reflecting a 28% increase. The profit after tax surged to INR 856 million from INR 194 million in the previous year. The company highlighted its strong contracting run-rate, with 1.4 GW of renewable energy power sales capacity commissioned across seven states. Management noted that 74% of new volumes were contracted with existing customers, emphasizing a focus on data and AI as a key growth driver. The presentation included details on financial metrics, operational performance, and strategic partnerships, underscoring the company's commitment to renewable energy solutions.

Management emphasized strong growth in operational capacity and financial performance.

Sourced from an exchange-filed presentation, dated 12 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive22 Mar 2026
View source filing →

Key takeaway: During the earnings conference call for the quarter and nine months ended December 31, 2025, management reported a 33% year-on-year growth in EBITDA, driven by a 26% increase in power sales revenue. The EBITDA for the quarter increased by 40% compared to the same quarter last year. Management highlighted a reduction in weighted average interest rates from 9.2% to 8.7% and an increase in profit after tax from INR 2 crores to INR 40 crores for the first nine months. CleanMax has contracted 5.7 GW of renewable energy power sales capacity, a 300% increase over the last two years, with 3 GW already operational. The company also reported a significant growth in its data and AI customer segment, which now constitutes 42% of its contracted capacity. Management expressed confidence in achieving a goal of 1.5 GW of additional capacity in the next fiscal year.

Management emphasized strong growth metrics and operational achievements.

Sourced from an exchange-filed transcript, dated 22 Mar 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive17 Mar 2026
View source filing →

Key takeaway: The investor presentation by Clean Max Enviro Energy Solutions Limited detailed the company's unaudited financial results for the quarter and nine months ended December 31, 2025. Key highlights included an operational capacity of 3.0 GW and a contracted capacity of 5.7 GW in renewable energy power sales, marking a 76% year-over-year increase. The presentation reported a 33% year-over-year growth in EBITDA, rising from INR 709 crore in the previous year to INR 945 crore. The company also noted a significant increase in reported profit after tax, from INR 2 crore to INR 40 crore. Management highlighted the successful commissioning of 1.3 GW of capacity across seven states and emphasized the role of data and AI in driving growth, with 42% of contracted capacity attributed to this segment. The document also outlined strategic partnerships and improvements in financial metrics, including a reduction in the weighted average interest rate on project finance.

Management emphasized strong growth and operational achievements.

Sourced from an exchange-filed presentation, dated 17 Mar 2026. Summary is RedixFi-generated and distinct from investment advice.

AI Summary of Annual Report

AI-generated
FY2025-26859 pages

Clean Max Enviro Energy Solutions Limited (CLEANMAX) reported a current liabilities exceed current assets by ₹17,240.95 million as of March 31, 2026, but the Board believes the company has adequate resources to meet obligations. The company has no defaults on borrowings, no wilful defaulter status, and no material uncertainty regarding going concern. It has corporate guarantees secured against renewable energy assets and long-term PPAs. A Show Cause Notice (SCN) of ₹97.69 million is pending with the Deputy Commissioner of State Tax, Mumbai, related to tax liabilities and guarantees. The company's IPO funds were utilized for business purposes, with unutilized amounts temporarily invested. The auditor noted key audit matters including revenue recognition and impairment assessments.

  • Current liabilities exceed current assets by ₹17,240.95 million, but the Board believes resources are adequate to meet obligations.
  • No defaults on borrowings, no wilful defaulter status, and no material going concern uncertainty.
  • Corporate guarantees secured against renewable energy assets and long-term PPAs.
  • Pending SCN of ₹97.69 million from Mumbai's Deputy Commissioner of State Tax.
  • IPO funds utilized for business purposes, with unutilized amounts temporarily invested.

Key takeaway: Despite current liquidity challenges, CLEANMAX maintains no defaults, adequate resources, and secured guarantees, though a significant tax dispute remains pending.

The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.

Filed with NSE · 30 Jun 2026View source filing →

Governance disclosures

AI-generated

Needs attention

Regulatory Action (1 item)

Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.

Regulatory Action

1 occurrence

Recent (last 12 months)

Annual Report30 Jun 2026 (FY2025-26)· 3 passages
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A Show Cause Notice (SCN) dated September 25, 2025 was issued by the Deputy Commissioner of State Tax, Mumbai, involving Rs. 97.69 Million, alleging contraventions related to credit notes, tax liabilities, excess input tax credit, corporate guarantees, and bank guarantees for the period April 2021 to March 2022. The matter is pending.

Routine disclosures

Internal Control Weakness

1 occurrence

Recent (last 12 months)

Annual Report30 Jun 2026 (FY2025-26)
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The auditor mentions significant deficiencies in internal controls that could affect the consolidated financial statements.

Contingent Liability

2 occurrences

Recent (last 12 months)

Annual Report30 Jun 2026 (FY2025-26)· 14 passages
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The company has contingent liabilities including disputed claims for income tax and goods and service tax, and guarantees for subsidiaries and associates. It also has commitments related to unexecuted contracts and put option obligations on subsidiaries' shares.

Annual Report30 Jun 2026 (FY2025-26)· 4 passages
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The company has contingent liabilities reported for bank guarantees and corporate guarantees in its financial statements.

Related-Party Transaction

2 occurrences

Recent (last 12 months)

Annual Report30 Jun 2026 (FY2025-26)· 8 passages
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The company approved material related-party transactions involving Clean Max Aria Private Limited, Clean Max Astria Private Limited, Clean Max Boreal Private Limited, and Clean Max Charge LLP.

Annual Report30 Jun 2026 (FY2025-26)· 11 passages
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The company approved a material related-party transaction with Clean Max Ni Private Limited, a wholly owned subsidiary, up to INR 576.97 crore, subject to being at arm's length and in the ordinary course of business.

Management & Board Governance

1 occurrence

Recent (last 12 months)

Annual Report30 Jun 2026 (FY2025-26)· 2 passages
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Mr. Sumit Banerjee, a Non Executive Independent Director of the Company, resigned from the Board with effect from the [date not specified] during the Financial Year 2025-26.

Promoter Share Pledge

1 occurrence

Recent (last 12 months)

Structured Filing Data (NSE Pledge Disclosure)18 Jul 2026

5.5% of promoter holding pledged (quarter 2026-Q3 as of 2026-07-18).

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