Clean Max Enviro Energy Solutions Limited share price

Key numbers

Market cap

₹ 16,341 Cr

Current price

₹ 1,393.40

52-week high / low

₹ 1,536 / 727

Stock P/E

103.1

Book value

₹ 396.2

Dividend yield

0.00%

ROCE

6.2%

ROE

2.6%

Debt to equity

2.76

Sales growth (3 yrs)

27.1%

Profit growth (3 yrs)

-

1-year return

-

About Clean Max Enviro Energy Solutions Limited

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 two segments, Renewable Energy Power Sales Segment and Renewable Energy Services Segment. The company delivers renewable energy through wind, solar, and hybrid farms, rooftop and ground-mounted solar projects, floating solar, and solar carports. It also offers off-site renewable energy solutions, such as STU-connected and CTU-connected off-site solutions. In addition, the company offers land identification and acquisition; transmission and evacuation infrastructure; engineering, procurement, and construction; operations and maintenance; and lifecycle asset management services, as well as carbon trading and advisory services. In addition, it supplies renewable energy certificates, supports carbon project financing, and provides hybrid clean energy solutions, distributed solar, and technologies. The company serves commercial and industrial clients in sectors including automotive, education, pharmaceuticals, fast-moving consumer goods, information technology, data centers,…

Quarterly results

Consolidated figures in ₹ crores

Concall summary (2026-08-07)

AI summary of the earnings call transcript · tone: Positive · source document

Guidance & outlook

• So, we are comfortable providing that new guidance, that we will have a minimum EBITDA of INR3,000 crores in FY28, which is nearly 2.4x the EBITDA in FY26.
• So, 2.4x in 2 years, from about INR1,290 crores in FY26 to a minimum of INR3,000 crores in FY28 on the back of this 1,500 megawatt of opex capacity that we plan to add in the current financial year.

Growth & demand

• So, first message about the quarter's performance is we had terrific growth in our profit after tax, which was at INR55 crores, which was really driven by three things.
• We had 42% of our capacity in Data and AI in terms of our contracted capacity, 42% is Data and AI, and we have about 10x growth in the last 2 years.

Margins & costs

• Second is we improved our EBITDA margins in both of the segments of our business, which is in renewable energy power sales, our EBITDA margins went up from 76% to 84%, and in renewable energy services, they increased from 9% to 11%.
• So, RE power sales first quarter of last fiscal, our EBITDA margin was 76%, which has increased to about 84% in the first quarter of this fiscal.

Capex & expansion

• So if you work the equation all the way through, every 1 gigawatt of data center IT load translates to 6 gigawatt of new RE capacity plus a few gigawatt of storage, which equates to a INR40,000 crores investment, and there's many, many more gigawatts of d ata center capacity to come in India over the next 5 -7 years.
• So, there's low penetration with a high consumer proposition, and therefore, the last 2 years we have seen over 46% annual CAGR in terms of new capacity signed up, and we do think that some of that will continue.

Balance sheet & cash

• We've also lowered our borrowing costs on project finance from 9.4%, as I mentioned in April 2025, to about 8.4% in June 2026.
• So out of the total INR11,800 crores net debt, approximately 44% of the debt is against the project which has been operational at the 12 months prior to the start of the year, which is INR5,154 crores.

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