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CLEAN MAX ENVIRO EN SOL L

CLEANMAXNSE
Market snapshot · 2026-08-10 20:09 UTC

1,292.00

₹-31.80 (-2.40%)

MARKET CAP

₹15.15K Cr

STOCK P/E

96.6x

52W HIGH

₹1,536.00

52W LOW

₹727.10

BOOK VALUE

₹444.41

EPS

₹13.37

ROE

SECTOR

Utilities

DEBT/EQUITY

229.64

VOLUME

1.32L

P/B RATIO

2.91x

PEG RATIO

Sector

Utilities

Themes

Renewable Energy
₹1,456.90₹1,294.83₹1,132.75₹970.68₹808.60VolumeMar '26Mar '26Apr '26May '26Jun '26Jun '26Jul '26Aug '26

AI Summary

✦ Clartha

Clean Max Enviro Energy Solutions is a renewable-energy developer and operator serving commercial and industrial customers. Power Sales monetizes wind, solar, hybrid, rooftop, floating, and carport projects, while Services earns from development, EPC, transmission, operations, and lifecycle asset management. Hyperscaler demand and data-centre growth could accelerate contracted renewable capacity, supporting 27.7% revenue growth and improving margins. Profit grew 238.1%, but ROE is unavailable, limiting assessment of capital efficiency. At 229.64 debt/equity, leverage can materially amplify financial risk and distort returns to equity. The stock trades at 99x earnings, a rich valuation versus its growth rate and sector norms. Positive sentiment reflects renewable demand, but execution, financing costs, and customer concentration remain open questions.

Valuation Metrics

Trading 11.4% above historical median. Valuation is rising — currently in the strongly overvalued zone (z-score: +0.94). Confidence: 83%.

Live forward EPS implies next-12-month EPS of ₹31.32. Applying the stock's normalized valuation corridor produces a fair range of ₹2,221.21 to ₹3,043.99, with base value near ₹2,784.35 (+115.5% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Below normalized range

Forward EPS

₹31.32

Forward P/E

41.3x

Base Fair Value

₹2,784.35

Fair Range

₹2,221.21 - ₹3,043.99

Upside To Base

+115.5%

Estimate Source

Live forward EPS

P/E
Strongly Overvalued

5Y Average

93.42

Current

99.01

Overvalued

97.19

Undervalued

70.92

EV/EBITDA
Overvalued

5Y Average

19.94

Current

20.63

Overvalued

21.32

Undervalued

18.23

P/B
Strongly Undervalued

5Y Average

3.16

Current

2.91

Overvalued

3.63

Undervalued

2.69

Peers & Comparison

Sector: Utilities · Theme: Renewable Energy

Renewable Energy Peers5 peers
Avg P/E: 27.8x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
SJVN LTD
SJVNRenewable Energy
+52.0%12.8%
41.9x
Premium
+51% vs avg
-26.9%
ACME SOLAR HOLDINGS LTD
ACMESOLARRenewable Energy
+46.8%21.1%
37.8x
Premium
+36% vs avg
+33.7%
JAIPRAKASH POWER VEN. LTD
JPPOWERRenewable Energy
+12.2%11.1%
25.4x
Fair
-9% vs avg
-7.3%
WAAREE RENEWABLE TECH LTD
WAAREERTLRenewable Energy
+53.2%-34.0%
18.7x
Undervalued
-33% vs avg
-9.6%
KPI GREEN ENERGY LIMITED
KPIGREENRenewable Energy
+39.8%17.7%
15.3x
Undervalued
-45% vs avg
-29.5%
WHY THESE PEERS

CLEAN MAX ENVIRO EN SOL L trades at a premium (96.6x vs peer avg 27.8x), implying higher growth or quality expectations from the Renewable Energy cohort. Peers include SJVN LTD, ACME SOLAR HOLDINGS LTD, JAIPRAKASH POWER VEN. LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹2.13K CrJun 2026

Latest net profit

₹350 CrJun 2026

Latest EPS

₹29.88Jun 2026

Net margin

20.0%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.0%7.0%14.0%21.0%28.0%0.00 Cr550 Cr1.10K Cr1.65K Cr2.20K Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr550 Cr1.10K Cr1.65K Cr2.20K Cr₹0₹8₹16₹24₹32
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOtheradjustmentsOperatingprofitOther incomeInterestOtheradjustmentsProfitbefore taxTax & otherNet Profit0.00 Cr550 Cr1.10K Cr1.65K Cr2.20K Cr

Latest reported period: Jun 2026

Results

MetricDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +6391,0391,1281,4581,5211,8972,125
Expenses +4888869531,1311,1461,6691,707
Operating Profit151153175327375227418
OPM %24%15%16%22%25%12%20%
Other Income +4857629191111172
Interest4661528795136108
Depreciation10111012141314
Profit before tax142138174319357189468
Tax %27%17%23%25%24%34%25%
Net Profit +104114134239270124350
EPS in Rs205.73224.2326.3323.5626.2810.6329.88
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderMar 2023Mar 2024Mar 2025Dec 2025Mar 2026
Promoters17.45%17.64%65.27%49.48%49.48%
FII42.26%10.76%10.62%
DII34.37%33.93%
Public1.75%0.85%0.70%2.99%3.32%
Others80.80%39.25%34.03%2.40%2.65%
Mar 2026
Promoters
FII
DII
Public
Others