Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · CLEAN MAX ENVIRO EN SOL L · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
CLEAN MAX ENVIRO EN SOL L
NSE: CLEANMAX · BSE: 544717
NSE: CLEANMAX · BSE: 544717
Utilities › Power › Power › Power Generation
CLEAN MAX ENVIRO EN SOL L
StateQ1 FY27 filed
Last close · 27 Oct 2026₹1,221.00
Market cap₹14.3k cr
TTM P/E · P/B · EV/EBITDA— · 2.59 · —
CLEAN MAX ENVIRO EN SOL L is a Power company listed on NSE. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 1,913 |
| EBITDA (ex other income) | 1,132 |
| margin % | 59.2 |
| Owners' profit | 94 |
| EPS, as reported (₹) | 9.10 |
| ROE % · ROCE % | 1.5 · 5.1 |
| Debt / equity (x) | 2.25 |
| Cash from operations | 1,731 |
| Capex | (5,687) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · CLEAN MAX ENVIRO EN SOL L · 28 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 422 | 557 | 832 |
| Profit before tax | 6 | 73 | 94 |
| Net profit | 21 | 45 | 55 |
| EPS (₹) | 2.70 | 5.31 | 4.14 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Segment A - Renewable Energy Power Sales | 680 | 69.4 |
| Segment B - Renewable Energy Services | 292 | 29.8 |
| Other unallocable | 7 | 0.8 |
| Total, before eliminations | 980 | 100.0 |
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| NTPC LTD | 2,92,646 | 10.5 | 1.39 | 9.6 | 13.0 | 5.5 | 10.9 | 32.8 |
| ADANI GREEN ENERGY LTD | 2,12,298 | 87.7 | 7.11 | 27.3 | 6.7 | 1.3 | 32.9 | 95.1 |
| JSW ENERGY LIMITED | 86,061 | 41.9 | 2.56 | 14.4 | 8.2 | 1.9 | 22.3 | 59.6 |
| NHPC LTD | 73,530 | 19.4 | 1.52 | 19.6 | 8.7 | 2.7 | 3.8 | 65.7 |
| NTPC GREEN ENERGY LIMITED | 70,242 | 117.4 | 3.66 | 37.5 | 2.7 | 1.2 | — | 90.7 |
| NLC INDIA LIMITED | 31,990 | 9.6 | 1.27 | 9.0 | 14.9 | 5.4 | 12.2 | 34.4 |
| ACME SOLAR HOLDINGS LTD | 29,643 | 42.9 | 5.86 | 20.5 | 9.8 | 2.7 | — | 96.9 |
| SJVN LTD | 20,081 | 31.5 | 1.41 | 14.4 | 4.5 | 2.8 | 12.7 | 65.9 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 100.5 | 19.1 | 20 of 22 | 10% |
| P/B | 2.6 | 1.4 | 20 of 26 | 24% |
| ROCE | 0.7 | 2.7 | 19 of 29 | 36% |
| ROE | 1.6 | 5.3 | 18 of 26 | 32% |
| Debt / Equity | 2.3 | 0.8 | 21 of 26 | 20% |
| EBITDA margin | 55.6 | 53.8 | 12 of 24 | 52% |
| Market cap | 14313 | 3297 | 9 of 29 | 71% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · CLEAN MAX ENVIRO EN SOL L · 28 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Risk Management Committee approves corporate guarantees for two subsidiaries | board shareholder meetings | low | — | — |
| 16 Oct 2026 · Sells 26 percent stake in subsidiary Clean Max Hachi to Chambal Fertilisers | strategic transactions | medium | — | — |
| 9 Oct 2026 · Acquisition of Massmunch Company Limited in Thailand | strategic transactions | medium | — | — |
| 9 Oct 2026 · Clean Max Enviro files quarterly demat compliance certificate | compliance | minimal | — | — |
| 8 Oct 2026 · Allotment of 53,336 equity shares under ESOS 2015 to employees | capital market events | low | — | — |
| 7 Oct 2026 · Corporate Guarantee of Rs 45.09 Cr for Subsidiary Clean Max Patagonia | credit debt | medium | — | — |
| 1 Oct 2026 · BSE approves change of 40,000 NCDs from unsecured to secured | credit debt | medium | — | — |
| 30 Sept 2026 · Clean Max Enviro to meet analysts via Avendus Spark on 7 Oct | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Clean Max lists 2,500 crore green NCDs on BSE across 5 series | capital market events | low | — | — |
| 30 Sept 2026 · FII Augment India sells 7.25% stake in Clean Max Enviro via open market | ownership changes | high | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in