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CLEAN MAX ENVIRO EN SOL L CLEANMAX NSEINFRA

Utilities · Utilities - Renewable · India
https://www.cleanmax.com

Clean Max Enviro Energy Solutions Limited engages in development and maintenance of renewable energy projects, such as solar and wind power solutions for commercial and industrial customers. The company operates in 2 segments, Renewable Energy Power Sales Segment and Renewable Energy Services Segment. The company delivers renewable energy through wind and solar farms, rooftop and ground-mounted solar projects, and solar carports. It offers turnkey engineering, procurement, and construction services, including project design, regulatory approvals, installation, and ongoing operation and maintenance. Clients can procure green energy via long-term power purchase agreements, open access solar and wind farms, and group captive projects. The company supplies renewable energy certificates, supports carbon projects, and provides hybrid clean energy solutions, distributed solar, and technologies such as solar trackers, robotic cleaning, and remote monitoring. The company serves commercial and industrial clients in sectors including automotive, education, pharmaceuticals, fast-moving consumer goods, information technology, data centers, textiles, and chemicals across India, the Middle East, and Southeast Asia. The company was incorporated in 2010 and is headquartered in Mumbai, India.

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₹1,109.90
+27.94% 1Y

Market & Price

Market Cap
₹12,994.62 Cr
Current Price
₹1,109.90
High / Low (52W)
₹1,364.80 / ₹769.70
Beta
-

Valuation

Stock P/E
123.46
Industry PE
25.70
Forward P/E
35.13
PEG Ratio
-
Book Value
₹262.88
Price to Book
4.22
P/S
6.79
EV/EBITDA
-
Dividend Yield
-

Profitability & Returns

ROCE
5.12%
ROE
1.96%
ROA
2.58%
Profit Margin
4.92%
Op Margin
30.66%
EPS (Latest Qtr)
₹5.02
EPS (TTM)
₹8.99

Balance Sheet & Liquidity

Debt/Equity
2.30
Quick Ratio
0.50
Current Ratio
0.66
Debt
₹12,684.31 Cr
Total Assets
₹23,098.28 Cr
Current Assets
₹3,405.12 Cr
Working Capital
₹-1,724.10 Cr

Ownership

Promoter Holding
75.02%
Chg in Prom Hold
-
FII / Inst Holding
10.44%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
-
Total Revenue (TTM)
₹1,912.87 Cr
EBITDA
₹1,132.22 Cr
Free Cash Flow
₹-2,721.67 Cr
Operating Cash Flow
₹1,731.24 Cr
Shares Outstanding
₹11.71 Cr
Gross Margin
73.79%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
26.88%
Profit 5Y
81.41%
Revenue (YoY)
25.10%
Earnings (YoY)
-

PROS

  • Compounding revenue at 26.9% over 5 years.
  • Profit CAGR of 81.4% over 5 years.

CONS

  • Trading at a high P/E of 123.5.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Utilities).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 CLEANMAX CLEAN MAX ENVIRO EN SOL L NSEINFRA 1,109.90 123.46 ₹12,994.62 Cr - 5.12% 1.96% 26.88% 81.41%
2 ADANIPOWER Adani Power Limited NSEINFRA 243.37 36.76 ₹4.69 L Cr - 15.47% 20.91% 12.57% 6.16%
3 NTPC NTPC Limited NIFTY50NSEINFRAPSU 386.90 12.71 ₹3.75 L Cr 2.93% 9.27% 13.69% 2.49% 16.95%
4 POWERGRID Power Grid Corporation of India Limited NIFTY50NSEAIINFRAPSU 290.55 14.45 ₹2.70 L Cr 4.22% 10.70% 16.49% 2.02% 1.09%
5 ADANIGREEN Adani Green Energy Limited NSEINFRA 1,475.40 153.85 ₹2.43 L Cr - 6.51% 7.58% 18.47% 19.26%
6 ADANIENSOL Adani Energy Solutions Limited NSEINFRA 1,513.30 81.32 ₹1.82 L Cr - 8.72% 9.66% 28.29% 22.02%
7 ENRIN Siemens Energy India Limited NSEINFRA 3,872.10 105.28 ₹1.38 L Cr 0.10% 29.23% - 63.51% 83.35%
8 TATAPOWER Tata Power Company Limited NSEAIINFRA 420.75 35.96 ₹1.34 L Cr 0.59% 8.76% 11.34% 4.88% 3.95%
9 JSWENERGY JSW Energy Limited NIFTY_MIDNSEINFRA 595.05 46.74 ₹1.09 L Cr 0.34% 7.51% 8.82% 24.01% 14.86%
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Quarterly Results

Figures in INR.

Metric Mar 2025Mar 2026
Revenue 441.71 Cr554.55 Cr
Cost of Revenue 155.25 Cr181.49 Cr
Gross Profit 286.46 Cr373.07 Cr
Operating Expenses 110.63 Cr202.13 Cr
Operating Income 175.83 Cr170.94 Cr
EBITDA 310.78 Cr352.11 Cr
Interest Expense 203.64 Cr180.18 Cr
Pretax Income 26.20 Cr75.25 Cr
Tax Provision 8.98 Cr29.86 Cr
Net Income 22.01 Cr55.42 Cr
Diluted EPS 1.885.02

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 928.57 Cr1,389.58 Cr1,483.90 Cr1,896.78 Cr
Cost of Revenue 427.46 Cr451.44 Cr409.96 Cr501.40 Cr
Gross Profit 501.11 Cr938.14 Cr1,073.94 Cr1,395.37 Cr
Operating Expenses 235.97 Cr452.02 Cr473.50 Cr643.06 Cr
Operating Income 265.14 Cr486.11 Cr600.44 Cr752.31 Cr
EBITDA 307.21 Cr711.62 Cr1,022.62 Cr1,300.82 Cr
Interest Expense 207.78 Cr483.90 Cr662.89 Cr785.92 Cr
Pretax Income -16.16 Cr6.20 Cr59.75 Cr134.98 Cr
Tax Provision 43.32 Cr43.84 Cr40.32 Cr49.40 Cr
Net Income -65.27 Cr-30.99 Cr27.84 Cr94.13 Cr
Diluted EPS -5.57-2.652.38-

Compounded Sales Growth

5 Years:26.88%
1 Year:25.10%

Compounded Profit Growth

5 Years:81.41%
1 Year:-

Stock Price Performance

1 Year:+27.94%
6 Months:-
3 Months:-
1 Month:+3.64%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 7,000.14 Cr9,076.55 Cr13,279.25 Cr23,098.28 Cr
Current Assets 959.44 Cr1,006.61 Cr1,869.17 Cr3,405.12 Cr
Cash & Equivalents 113.17 Cr49.62 Cr328.58 Cr1,201.96 Cr
Inventory 76.75 Cr39.96 Cr52.08 Cr39.95 Cr
Receivables 169.41 Cr251.75 Cr188.07 Cr277.88 Cr
Total Liabilities 5,531.38 Cr6,842.57 Cr10,074.48 Cr17,574.74 Cr
Current Liabilities 1,629.26 Cr1,285.44 Cr2,450.57 Cr5,129.21 Cr
Long Term Debt 3,618.52 Cr5,195.41 Cr7,126.84 Cr11,312.42 Cr
Total Debt 3,875.24 Cr5,570.43 Cr8,087.19 Cr12,684.31 Cr
Total Equity 1,210.74 Cr1,833.47 Cr2,563.48 Cr4,638.27 Cr
Shares Outstanding 11.71 Cr11.71 Cr11.71 Cr11.71 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 927.65 Cr86.28 Cr1,404.20 Cr1,731.24 Cr
Investing Cash Flow -3,010.76 Cr-1,938.60 Cr-3,617.05 Cr-5,957.47 Cr
Financing Cash Flow 2,144.33 Cr1,788.78 Cr2,481.24 Cr5,095.40 Cr
Capital Expenditure -2,845.59 Cr-1,866.13 Cr-2,910.62 Cr-5,754.32 Cr
Free Cash Flow -1,917.94 Cr-1,779.86 Cr-1,506.42 Cr-4,023.08 Cr
Net Change in Cash 61.21 Cr-63.55 Cr268.39 Cr869.17 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % 54.0%67.5%72.4%73.6%
Operating Margin % 28.6%35.0%40.5%39.7%
Net Margin % -7.0%-2.2%1.9%5.0%
ROE % -5.4%-1.7%1.1%2.0%
ROCE % 4.9%6.2%5.5%4.2%

Shareholding Pattern

Insiders
75.02%
Institutions
10.44%
Public Float
41.77%

Analyst View

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