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Clean Max Enviro Energy Solutions Ltd.

PowerPower Generation/Distribution

www.cleanmax.com BSE: 544717NSE: CLEANMAX

₹1,286.95BSE2.70%

16 Sep, 4:01 PM

₹1,286.95

₹15.13K Cr

160.71

3.28

2.43%

₹1,327.00

₹1,265.00

₹1,532.80

₹728.00

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Price Performance

Peer Comparison

Name
ADANI POWER ADANIPOWER	202.35	27.37	3,90,225.80	0.00	4,866.60	47.24%	18,901.89	33.97%	17.79
NTPC LTD NTPC	327.00	11.42	3,17,080.98	2.75	6,896.44	12.90%	50,740.96	7.81%	8.52
POWER GRID POWERGRID	263.50	15.42	2,45,070.91	3.42	3,598.42	-0.89%	11,496.72	2.68%	9.74
ADANIGREEN ADANIGREEN	1,269.60	117.22	2,09,125.48	0.00	983.00	19.30%	4,431.00	16.61%	9.90
ADANIENSOL ADANIENSOL	1,350.00	56.56	1,65,098.85	0.00	1,236.56	129.44%	9,711.08	42.41%	9.71
TATA POWER TATAPOWER	361.00	29.86	1,15,351.76	0.69	1,400.86	10.98%	19,051.26	5.63%	11.63
JSW ENERGY JSWENERGY	505.70	47.13	92,719.22	0.40	532.70	-36.27%	5,207.13	1.24%	8.50
Clean Max Enviro Energy Solutions Ltd. CLEANMAX	1,286.95	160.71	15,128.02	0.00	55.17	432.43%	832.16	106.83%	6.69

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026	Jun 2026
	373.73	445.51	402.34	422.46	557.46	832.16
Expenses	189.42	188.74	356.94	159.32	289.84	665.95
	184.31	256.76	45.40	263.14	267.62	166.20
	49.32%	57.63%	11.28%	62.29%	48.01%	19.97%
	35.63	49.63	8.90	43.83	82.12	41.95
Interest	153.67	203.64	0.00	189.67	180.18	0.00
	82.90	80.93	83.45	110.98	96.68	114.63
	-16.53	26.21	-29.54	6.63	75.26	94.00
	73.88%	34.26%	43.81%	-219.36%	39.68%	41.30%
	2.46	22.01	-14.20	27.65	55.42	48.52
	0.49	4.34	-2.80	2.69	4.73	4.14

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00
INCOME :
Operating Income	929.58	1,389.84	1,495.70	1,912.87
Operating Income (Net)	929.58	1,389.84	1,495.70	1,912.87
EXPENDITURE :
Power Generation & Distribution Cost	427.46	451.45	410.75	502.09
Employee Cost	67.51	158.45	104.68	103.71
General and Administration Expenses	45.17	59.10	62.00	76.20
Selling and Distribution Expenses	1.98	2.52	1.25	5.50
Miscellaneous Expenses	12.59	11.85	15.83	94.27
	554.70	683.36	594.52	781.77
Operating Profit (Excl OI)	374.88	706.48	901.19	1,131.10
	31.40	35.47	116.07	165.06
	406.28	741.95	1,017.26	1,296.16
Interest	217.58	504.76	665.07	787.51
PBDT	188.70	237.19	352.19	508.64
	117.62	221.53	299.99	379.91
Profit Before Taxation & Exceptional Items	71.08	15.66	52.20	128.73
Exceptional Income / Expenses	-89.19	-10.77
	-18.11	4.89	59.75	134.98
Provision for Tax	43.32	43.84	40.32	49.40
	-61.43	-38.95	19.43	85.58
Extra items			0.00	0.00
Minority Interest	-5.80	6.66	8.41	8.56
Share of Associate	1.95	1.31
Consolidated Net Profit	-65.27	-30.99	27.84	94.13
Profit Balance B/F	-410.68	-536.98	-610.60	-506.40
Appropriations	-475.95	-567.97	-582.76	-412.26
	-179.95	-70.44	54.90	8.04
Adjusted EPS	-9.00	-3.52	2.74	8.04

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	3.63	4.40	5.07	11.71
Share Warrants & Outstandings	27.50	45.29	88.56	83.08
Total Reserves	1,179.62	1,783.78	2,469.85	4,543.47
Reserve excluding Revaluation Reserve	1,179.62	1,783.78	2,469.85	4,543.47
Revaluation reserve	0.00	0.00
	1,210.74	1,833.47	2,563.48	4,638.27
Minority Interest	258.01	400.51	641.29	885.27
Secured Loans	3,618.52	5,195.42	7,126.84	10,916.25
Unsecured Loans				396.17
Deferred Tax Assets / Liabilities	-0.51	-17.34	9.12	-2.29
Other Long Term Liabilities	152.48	149.30	228.03	579.48
Long Term Provisions	3.69	4.52	5.38	10.39
Total Non-Current Liabilities	3,774.18	5,331.89	7,369.37	11,900.00
Trade Payables	1,119.37	788.16	1,295.43	3,481.22
Other Current Liabilities	410.46	419.89	1,043.21	853.46
Short Term Borrowings	50.00	50.74	99.66	626.47
Short Term Provisions	49.43	26.65	12.28	168.06
Total Current Liabilities	1,629.26	1,285.44	2,450.57	5,129.21
Total Liabilities	6,872.19	8,851.31	13,024.72	22,552.75
Gross Block	3,310.28	7,251.89	8,963.21	13,242.63
Less: Accumulated Depreciation	381.12	602.61	903.36	1,288.78
Net Block	2,929.17	6,649.29	8,059.85	11,953.85
Capital Work in Progress	2,682.15	677.47	1,912.54	5,339.21
Non Current Investments	45.23	89.54	76.15	136.75
Long Term Investment	45.23	89.54	76.15	136.75
Long Term Loans & Advances	112.31	153.51	657.42	659.32
Other Non Current Assets	143.41	272.73	449.09	1,054.94
Total Non-Current Assets	5,912.76	7,844.71	11,155.55	19,147.63
Currents Investments	3.31	3.39
Inventories	76.75	39.96	52.08	39.95
Sundry Debtors	169.41	251.75	188.07	277.88
Cash and Bank	530.50	382.36	1,189.39	2,287.96
Other Current Assets	42.04	84.82	115.64	280.93
Short Term Loans and Advances	137.44	244.34	323.99	518.39
Total Current Assets	959.44	1,006.61	1,869.17	3,405.12
Net Current Assets (Including Current Investments)	-669.82	-278.84	-581.40	-1,724.10
Total Assets	6,872.19	8,851.31	13,024.72	22,552.75
Contingent Liabilities	365.75	648.61	871.87	1,232.86
Total Debt	3,843.42	5,514.56	7,973.70	12,400.34
	3,262.32	4,064.97	4,879.57	389.07
Adjusted Book Value	163.12	203.25	243.98	389.07

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00
	71.08	15.66	59.75	134.98
Adjustment	335.06	726.27	902.23	1,092.79
Changes In working Capital	536.02	-555.69	524.17	578.77
Cash Flow after changes in Working Capital	942.16	186.24	1,486.14	1,806.54
Cash Flow from Operating Activities	927.65	86.28	1,404.20	1,731.24
Cash Flow from Investing Activities	-3,010.77	-1,938.60	-3,617.05	-5,957.47
Cash Flow from Financing Activitie	2,144.33	1,788.78	2,481.24	5,095.40
Net Cash Inflow / Outflow	61.21	-63.55	268.39	869.17
Opening Cash & Cash Equivalents	51.95	113.17	49.62	328.59
Cash & Cash Equivalent on Amalgamation / Take over / Merger			10.58	0.11
Effect of Foreign Exchange Fluctuations				4.10
Closing Cash & Cash Equivalent	113.17	49.62	328.59	1,201.96

Ratios

Valuation

160.71

3.28

19.47

7.91

8.01

392.17

Profitability

2.43

6.69

0.48

59.13

4.47

Leverage & Liquidity

2.72

0.66

1.17

Returns

0.00

0.11

Shareholding Pattern

Numbers in percentages

Particulars	Feb '26	Mar '26	Jun '26
	49.48	49.48	49.42
	45.12	44.55	25.88
	5.40	5.97	24.70
	50.52	50.52	50.58
No. of Shareholders	34,276	31,746	23,620

Corporate Actions

Showing: All

Date	Type	Details
2026-07-27	Board Meeting	Amalgamation & Quarterly Results & Inter-alia to transact the following business:- i. The un-audited standalone and consolidated financial results for the quarter ended 30 June 2026. ii. Issuance of listed, rated, redeemable, non-convertible debentures/bond on private placement basis. iii. Amendment in terms and conditions of the Debenture Trust Deed dated 27 October 2025. iv. The draft composite scheme of amalgamation among Clean Max Aditya Power Private Limited, CleanMax IPP 1 Private Limited, CMES Power 1 Private Limited, CMES Infinity Private Limited and Clean Max Enviro Energy Solutions Limited and matters related thereto. v. The proposal for grant of in-principle approval of corporate restructuring by way of amalgamation/merger of the Company and its subsidiaries.
2026-07-01	AGM
2026-05-06	Board Meeting	Audited Results

Insider Trading

Date	Person	Category	Transaction Type	Shares
2026-05-22	Arsikere Vasanthkumar Tejus	Invocation Of Pledged	Sell	3,000
2026-05-22	Ashu Gupta	Invocation Of Pledged	Sell	20,540
2026-05-22	Chintan Shah	Market	Sell	1,000
2026-05-22	Paurush Chaturvedi	Market	Sell	6,379
2026-05-22	Pranjal Paul	Market	Sell	5,000
2026-05-22	Vamsi Krishna Pilla	Market	Sell	48
2026-05-22	Vamsi Krishna Pilla	Market	Sell	2,036

Sector Overview

PowerPower Generation/Distribution

Clean Max Enviro Energy Solutions Ltd. operates in the Power sector under the Power Generation/Distribution industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

10 members across the board and senior leadership

Ullash Parida

Company Secretary & Compliance Officer

—

Kuldeep Jain

Chairman & Managing Director

₹8.76 Cr

Mar '26

Pratap Jain

Non Independent & Non Executive Director

—

Murzash Manekshana

Non Independent & Non Executive Director

—

Nawal Saini

Non Independent & Non Executive Director

—

Ajay Kaul