AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep - Clean Max will attend Jefferies India Forum 2026 in Gurgaon on 17 September 2026.
Source: Bse
Clean Max Enviro Energy Solutions Limited (CLEANMAX)
Small CapPower stocks · Small cap · NSE
Clean Max Enviro Energy Solutions Limited operates in Renewable Power, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:47 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
49NeutralSMA20 +1.9% / mo · MACD −
Stock trend: 49
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CLEANMAXD candles · FIT view+15.3%Latest close ₹1218.50 on 2026-10-21
Daily history is available from 2026-03-02; the requested 1Y window is partially covered.
Bar
-1.7%
RSI
38
MACD hist
-15.11
52W pos
61%
2026-10-21O ₹1239.80H ₹1256.00L ₹1210.50C ₹1218.50Vol 1.5L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CLEANMAXNifty PowerNifty 500
- CLEANMAX
- -10.8%
- Nifty 500
- -6.5%
- Nifty Power
- -14.5%
- Vs Nifty 500
- -4.3 pp
Chart stats
21 Oct 2026- From 52W high
- -20.7%
- 52W range position
- 61%
- ATR (14)
- 5.2%
- Volume vs 20D
- 0.12x
- Avg traded value
- ₹168 Cr
- 20D price channel
- ₹1,210.5 - ₹1,481
₹1,536
₹727.1 - ₹1,536
₹63.4
Latest completed session
20-session average
48.5% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Verify management risk first
Do not let cheap valuation override weak Trust or governance evidence.
U-Score
Legacy · OVERVALUED19
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average32
Revenue +107.0% · PAT NDF YoY
Technical
Neutral49
Price trend and sector-relative-strength timing.
Valuation
Legacy model-245.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence40
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 32/100margin compression · Rev +107% YoY · +49% QoQ
Filed 31 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹832 Cr | +107.0% | +49.4% |
| EBITDA | ₹421 Cr | +58.3% | +57.1% |
| Operating margin | 51.0% | -1500 bps | +300 bps |
| PAT | ₹55 Cr | NDF | +22.2% |
| PAT margin | 6.6% | +1084 bps | -147 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 97.70
- P/B
- 3.29
- EV/EBITDA
- 16.49
- Market Cap
- 15321.00Cr
Profitability
- ROE
- 1.76%
- ROCE
- 6.16%
- ROA
- 0.70%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 25.00%
- EPS 5Y
- 19.00%
- Revenue 3Y
- 27.00%
- EPS 3Y
- -8.00%
Balance Sheet
- Debt/Equity
- 2.73
- Interest Coverage
- 1.57×
- Altman Z
- 1.17
- Book Value
- 396.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 1731.00 Cr
- EPS TTM
- 14.05
Shareholding
- Promoter Hold
- 49.43%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 71%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 832+49.4% vs prev
Net Profit
₹ CrLatest: 55.0+22.2% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 38. Wait for confirmation.
- SMA20 rising (~1.8% over last month) — short-term momentum positive.
- RSI(14) at 38 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 21% off 52W high · 68% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
72
RS percentile
Insufficient history
1M return
-9.1%
3M return
-10.8%
6M return
+15.8%
1Y return
-
RS 1D
+1
RS 20D
-8
Sector rank
#12
Industry rank
#75
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price below
200-DMA
unavailable
Sector
neutral
Industry
lagging
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
158 observations
21 Oct 2026Value 146.88-0.48%
RS vs Nifty 500147
Valuation & peers
U-Score 19 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 19 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Distress Watch
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth15/25
Quality0/20
Balance Sheet0/15
Cash Flow1/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
19
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
19/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 15/25 to the score.
- Cash flow contributes 1/10 to the score.
- Valuation contributes 0/30 to the score.
Main drags
- Altman Z is 1.2, in distress territory.
- Fair-value margin of safety is negative at -245.1%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
97.7
PB
3.3
EV/EBITDA
16.5
ROE
1.8%
ROCE
6.2%
FCF Yield
—
Debt/Equity
2.7
MoS
-245.1%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
19
Previous: 19
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-245.1%
Previous: -250.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
19
19
19
19
19
19
19
19
19
19
19
19
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹353.82
-244.4% MoS
Growth-justified P/E
25.1
Growth-justified Value
₹353.08
-245.1% MoS
PEG
5.14
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
INDOWIND
Small
Indowind Energy Limited
Renewable Energy
match 162
23
—
0.1%
-3673%
OVERVALUED
GREENPOWER
Small
Orient Green Power Company Limited
Renewable Energy
match 160
53
19.0
5.3%
+40%
FAIR VALUE
ADANIGREEN
Large
Adani Green Energy Limited
Renewable Energy
match 148
21
110.6
11.4%
-340%
OVERVALUED
INOXGREEN
Micro
Inox Green Energy Services Limited
Renewable Energy
match 144
32
42.1
5.1%
-42%
WATCHLIST
URJA
Small
Urja Global Limited
Renewable Energy
match 134
13
352.0
0.8%
-5274%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Clean Max Enviro Energy Solutions Limited operates in Renewable Power, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
40Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 1st percentile of the scored universe and 1st percentile within Power. Main check: balance sheet trust is weak at 8/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
30 docs text-extracted · 7 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
1st percentile
overall median 67 · Power: 1st pctile, median 65 · Small: 1st pctile, median 66
Evidence depth
Financial-only
30 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Do not rely on management narrative unless hard turnaround evidence is visible.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
8
weak · leverage and solvency
Discipline
28
weak · capital discipline
Results
45
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
Trust risks
- ▸Debt/equity is 2.73.
- ▸Altman Z is 1.18.
- ▸Only 0 years of positive FCF.
- ▸Interest coverage is 1.6x.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Clean Max Enviro Energy Solutions Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 23 Sep - Allotment of 2,830 equity shares under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 21 Sep - Appoints Vipin Balan as Head-Projects; sells 2,600 shares each in three subsidiaries for ₹26,000 each.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 11 Sep - Allotment of 17,660 equity shares under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 as amended from time to time
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 21 Aug - Allotment of 13562 Shares under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 as amended
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 11 Aug - Allotment of 2,00,000 shares under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 as amended
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 17 Jul - Allotment of 9220 ESOPs pursuant to CMES ESOP Scheme
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 13 Jul - Allotment of 8740 Shares under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 as amended
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 18 Jun - Allotment of 49,810 Shares under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 as amended
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 10 Jun - Meta and CleanMax announce ~900 MW renewable partnership, including 837 MW solar and wind in Rajasthan and Karnataka.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 5 Jun - Allotment of 13,326 equity shares under Clean Max Enviro Energy Solutions Limited Employee Stock Option Scheme 2015 as amended
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.