CLEANMAX
Clean Max Enviro Energy Solutions Limited
Renewable energy projects and EPC services for corporates
Utilities›Power›Power›Power Generation
cleanmax.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
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What you need to know
CleanMax (Clean Max Enviro Energy Solutions) builds, owns and operates solar, wind and hybrid renewable power plants that supply electricity to corporate and industrial customers under long-term contracts, and also sells engineering and maintenance services for customers' own plants.
Company snapshot
11thBy market cap
Ranked among 27 companies in Power Generation.
What we see
- ✓118% of operating profit came in as cash over the last three years — profits are backed by real cash.
- ✗Interest coverage of 1.0x — earnings barely cover interest payments, which is a warning sign.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|
| Sales | 422 Cr | 557 Cr | 832 Cr |
| Operating expenses (approx.) | 159 Cr | 290 Cr | 411 Cr |
| EBITDA | 263 Cr | 268 Cr | 421 Cr |
| OPM % | 62.3% | 48.0% | 50.6% |
| Other income | 44 Cr | 82 Cr | 42 Cr |
| Interest | 190 Cr | 180 Cr | 255 Cr |
| Depreciation | 111 Cr | 97 Cr | 115 Cr |
| Profit before tax | 7 Cr | 75 Cr | 94 Cr |
| Tax % | -219.4% | 39.7% | 41.3% |
| Net profit | 21 Cr | 45 Cr | 55 Cr |
| EPS (₹) | ₹2.70 | ₹5.31 | ₹4.14 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|
| Sales | 930 Cr | 1,390 Cr | 1,496 Cr | 1,913 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 642 Cr | 693 Cr | 588 Cr | 781 Cr | Sign in free for the trailing twelve months |
| EBITDA | 287 Cr | 697 Cr | 908 Cr | 1,132 Cr | Sign in free for the trailing twelve months |
| OPM % | 30.9% | 50.1% | 60.7% | 59.2% | Sign in free for the trailing twelve months |
| Other income | 31 Cr | 35 Cr | 115 Cr | 162 Cr | Sign in free for the trailing twelve months |
| Interest | 217 Cr | 504 Cr | 663 Cr | 786 Cr | Sign in free for the trailing twelve months |
| Depreciation | 118 Cr | 222 Cr | 300 Cr | 380 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -16 Cr | 6 Cr | 60 Cr | 135 Cr | Sign in free for the trailing twelve months |
| Tax % | -268.1% | 707.5% | 67.5% | 36.6% | Sign in free for the trailing twelve months |
| Net profit | -59 Cr | -38 Cr | 19 Cr | 86 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-9.01 | ₹-3.94 | ₹2.88 | ₹9.10 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 0.0% | Sign in free for the trailing twelve months |
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity capital | 4 Cr | 4 Cr | 5 Cr | 12 Cr |
| Reserves | 1,207 Cr | 1,829 Cr | 2,558 Cr | 4,627 Cr |
| Borrowings | 3,843 Cr | 5,515 Cr | 7,974 Cr | 12,411 Cr |
| Other liabilities | 1,688 Cr | 1,328 Cr | 2,101 Cr | 5,164 Cr |
| Total liabilities | 7,000 Cr | 9,077 Cr | 13,279 Cr | 23,098 Cr |
| Fixed assets (net) | 2,901 Cr | 6,610 Cr | 7,916 Cr | 11,745 Cr |
| CWIP | 2,682 Cr | 677 Cr | 1,913 Cr | 5,339 Cr |
| Investments | 49 Cr | 93 Cr | 76 Cr | 137 Cr |
| Loans & advances | — | — | — | 3 Cr |
| Inventories | 77 Cr | 40 Cr | 52 Cr | 40 Cr |
| Trade receivables | 169 Cr | 252 Cr | 188 Cr | 278 Cr |
| Cash & bank | 113 Cr | 50 Cr | 329 Cr | 1,202 Cr |
| Other assets | 1,009 Cr | 1,355 Cr | 2,806 Cr | 4,355 Cr |
| Total assets | 7,000 Cr | 9,077 Cr | 13,279 Cr | 23,098 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Cash from operating activity | 928 Cr | 86 Cr | 1,404 Cr | 1,731 Cr |
| Cash from investing | -3,011 Cr | -1,939 Cr | -3,617 Cr | -5,957 Cr |
| Cash from financing | 2,144 Cr | 1,789 Cr | 2,481 Cr | 5,095 Cr |
| Net cash flow | 61 Cr | -64 Cr | 268 Cr | 873 Cr |
| Free cash flow (OCF − Capex) | -1,911 Cr | -1,779 Cr | -1,503 Cr | -4,023 Cr |
Ratios
| Metric | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| ROCE % | 3.8% | 6.6% | 6.5% | 5.1% |
| ROE % | -4.4% | -1.4% | 0.9% | 1.7% |
| Debtor days | 66 | 66 | 46 | 53 |
| Inventory days | 65 | 32 | 47 | 31 |
| Days payable | 954 | 640 | 1158 | 1371 |
| Cash conversion cycle | -822 | -541 | -1065 | -1287 |
| OCF / EBITDA % | 322.9% | 12.4% | 154.7% | 152.9% |
| OCF / EBITDA % (3 years) | — | — | 127.8% | 117.7% |
| Debt / equity | 3.17 | 3.01 | 3.11 | 2.68 |
| Current ratio | 0.59 | 0.78 | 0.76 | 0.66 |
| Net debt / EBITDA | 12.98 | 7.84 | 8.42 | 9.90 |