CLEANMAX share price, P/E, ROE & financials

On 6 Nov 2026, Clean Max Enviro Energy Solutions was priced at ₹1,259.70, or 81.4× trailing earnings, against an industry P/E of 45.8×, and the shares are 18% below their 52-week high. Sales grew 27% a year over 3 years, with ROCE of 4.9% and ROE of 2.6%. Debt is 2.32× equity. It is a small-cap company with a market cap of ₹14,815 Cr, ranked 7th of 18 Utilities (Renewable) companies by market cap; the shares rose 45% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹1,021.20
Day high: ₹1,314.70
Day low: ₹1,021.20
Prev. close: ₹1,276.50
Volume: 8.9 L

Health check

2 good · 4 to check

ReturnsAhead
+45.2% over a year, better than 6 of 7 peers.
Price tagPricier
P/E 81.4 vs industry 45.8.
GrowthStrong
Sales +27.1% a year over 3 years.
ProfitabilityWeak
ROCE 4.9% vs peer median 5.8%.
Balance sheetStretched
Debt 2.32× equity, interest covered 1.2×, Piotroski 7 of 9.
Red flags4 to check
Return on equity is low at 2.6%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Utilities - Renewable

17 listed peers. Screen the industry

Small cap

₹14,815 Cr, #7 of 18 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹2,343 Cr · profit ₹157 Cr

Market cap: ₹14,815 Cr; Small cap
P/E: 81.4; Industry 45.8
Price to book: 3.18; Peers 3.17
Dividend yield: 0.00%
ROE: 2.6%; Peers 7.3%
ROCE: 4.9%; Peers 5.8%
Debt to equity: 2.32; Debt ₹12,808 Cr
EPS (TTM): ₹15.47; Face value ₹1
OPM (TTM): 58.4%; Net margin 6.7%
Sales growth: +37.1%; Latest quarter vs a year ago
Profit growth: +86.2%; Latest quarter vs a year ago
Price to sales: 6.32; EV/EBITDA 20.3

Strengths

Quarterly profit up 86.2% on a year ago.
Quarterly sales up 37.1% on a year ago.
Positive operating cash flow in each of the last 4 years.

Risks to check

Return on equity is low at 2.6%.
Debt is 2.32× equity.
P/E of 81.4 against an industry P/E of 45.8.
Interest coverage of only 1.6×.

Derived automatically from reported figures. Not a recommendation.

About Clean Max Enviro Energy Solutions

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…

Headquarters: Mumbai
Employees: 594
Sector: Utilities
ISIN: INE647U01026
Website: cleanmax.com

Price range

52 weeks

₹727.10₹1,536.00

Today

₹1,021.20₹1,314.70

Avg volume (3M): 5.7 L
1-year return: plus 45.2%
From 52-week high: minus 18.0%

Analyst consensus

9 analysts

Strong buyMean target ₹1,621.11 28.7%

Target range, with today’s price

Low ₹1,500.00High ₹1,750.00

Today’s price ₹1,259.70 is below the lowest analyst target.

Consensus from Yahoo Finance. Not a recommendation.

Peers · Utilities - Renewable

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
ADANIGREENAdani Green Energy	1,424.10	plus 0.65%	2,34,574	129.5	30.6	6.3%	90.8%	3.75	16.6%	plus 30.2%
ENRINSiemens Energy India	2,809.00	minus 1.75%	1,00,034	67.2	63.4	29.2%	21.5%	0.04	–	minus 11.9%
NHPCNHPC	82.08	plus 1.84%	82,450	19.1	23.7	5.8%	46.1%	1.13	2.0%	minus 4.2%
NTPCGREENNTPC Green Energy	82.63	minus 1.27%	69,627	107.3	40.5	2.9%	87.5%	1.92	156.2%	minus 16.9%
ACMESOLARACME Solar Holdings	394.95	minus 3.17%	27,883	34.2	24.8	7.0%	86.5%	3.30	16.0%	plus 49.0%
SJVNSJVN	57.15	minus 0.70%	22,459	22.7	16.4	5.0%	67.8%	2.25	14.6%	minus 34.1%
CLEANMAXClean Max Enviro Energy Solutions	1,259.70	minus 1.32%	14,815	81.4	21.8	4.9%	58.4%	2.32	27.1%	plus 45.2%
JNPRJuniper Green Energy	255.81	plus 0.31%	14,556	135.3	43.7	2.8%	64.7%	2.84	–	minus 1.5%
Median of 7 peers	–	−0.70%	69,627	67.2	30.6	5.8%	67.8%	2.25	16.0%	−4.2%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
531	418	555	828	728
195	155	287	407	203
335	263	268	421	524
63.2%	63.0%	48.3%	50.8%	72.1%
31.5	44.1	84.5	42.4	24.1
195	190	180	255	289
88.8	111	96.7	115	139
82.6	6.6	75.3	94	120
56.9%	−219.4%	39.7%	41.3%	45.9%
25.3	27.6	55.4	48.5	47
2.16	2.36	5.02	4.11	3.98

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +27.1%
ROE: 2.6%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
929	1,390	1,494	1,908
–	+49.6%	+7.5%	+27.7%
621	682	586	698
307	708	909	1,211
33.1%	50.9%	60.8%	63.4%
87.7	11.6	26.7	−35.5
208	484	639	738
116	222	300	380
−87.7	−7.7	63.5	77.7
−16.2	6.2	59.7	135
−268.1%	707.5%	67.5%	36.6%
−65.3	−31	27.8	94.1
-5.57	-2.65	2.38	8.96

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
3.6	4.4	5.1	11.7
1,207	1,829	2,558	4,627
3,875	5,570	8,087	12,808
1,914	1,673	2,629	5,652
7,000	9,077	13,279	23,098
5,608	7,336	10,396	17,583
2,707	727	2,481	5,839
1.2	20.7	55.4	102
116	53	329	1,202
−1,433	940	18.1	−1,628
7,000	9,077	13,279	23,098

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
928	86.3	1,404	1,731
−3,011	−1,939	−3,617	−5,957
2,144	1,789	2,481	5,095
61.2	−63.5	268	869
−2,846	−1,866	−2,911	−5,754
−1,918	−1,780	−1,506	−4,023

Shareholding pattern

Source: NSE filings

49.3%

promoters

Promoters49.28%
Public50.72%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	49.28%	50.72%	minus 0.14
30 Jun 2026	49.42%	50.58%	minus 0.06
31 Mar 2026	49.48%	50.52%	0.00
1 Mar 2026	49.48%	50.52%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you