Clean Max Enviro Energy Solutions Ltd
CLEANMAXClean Max Enviro Energy Solutions Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the price is already 17 weeks into its uptrend — timing risk, not thesis risk.
The price is in a confirmed uptrend (17 weeks in) while the P/E sits at the 45th percentile of its own 0-year range. Underneath, the last four quarters read mixed, and 2,644% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Clean Max Enviro Energy Solutions Ltd trades at ₹1,249, in a confirmed uptrend and 17 weeks into that stage. That is +14.2% against its own 200-day average. It sits at 54% of a 52-week range of ₹999 to ₹1,457. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).
Today the stock is in a confirmed uptrend — week 17 of stage 2, confirmed. At ₹1,249 it trades +14.2% versus its 200-day average and sits at 54% of its 52-week range (₹999–₹1,457).
Against the market, two honest reads. Cumulative: over the last 4 months the stock moved +25% while the NIFTY 500 moved +3% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-08-07) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Clean Max Enviro Energy Solutions Ltd's story is not scored yet against the markers our research file set on 14 June 2026. Where it sits in its own cycle: Not stated in the research file. Still open: 525 MW Bikaner project (12% of run-rate EBITDA) experiencing 30% grid curtailment; September 2026 resolution is a grid estimate, not a company commitment.
What is proven. See the research file
What is not proven yet. 525 MW Bikaner project (12% of run-rate EBITDA) experiencing 30% grid curtailment; September 2026 resolution is a grid estimate, not a company commitment.
🚨 Layer 1 read, 27 June 2026 — DROP. Real renewable-capacity growth, but priced at 168x earnings on returns that are still structurally thin.
What would change Layer 1’s mind. Two-plus quarters of ROCE inflecting UP as the 2.6 GW backlog stabilizes (proving the capacity build converts to improving equity returns), OR conversely Bikaner CTU curtailment exceeding the guided 6% EBITDA drag, would change the rank — sustained ROCE decline alongside rising leverage would tip it toward DROP.
🚨 What the surface reading misses. The surface reading is: 42% concentration in one customer segment creates single-segment dependency risk The research reads it further: Data and AI is not one customer — it is 42% of volume from multiple global hyperscalers (Apple, Meta, Google, Amazon, NTT Data, Iron Mountain) each with independent build cycles. Per-building AI power 10x conventional means even modest data-center expansion creates disproportionate MW demand. The 10x growth in 2 years is not a one-time shift — India AI chip deployments are structurally in early innings.
🚨 What the surface reading misses. The surface reading is: OCF/PAT 48x suggests very high cash conversion or anomalous one-off The research reads it further: The 48x ratio is mechanically correct for an infrastructure business: reported PAT is suppressed by depreciation (Rs 380 Cr FY26) and high interest on non-recourse project debt, while OCF adds back depreciation. The ratio measures the depreciation shield relative to thin reported earnings, not earnings inflation. Cash is real — the divergence is accounting structure.
Sources: our stock research file (14 June 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Clean Max Enviro Energy Solutions Ltd reported ₹832 Cr of revenue in the Jun 26 quarter, +107.0% year on year. That is the 3rd straight quarter of year-on-year growth. Over 5 years it has compounded at 25.2% a year. The last full year, FY26, came in at ₹1,913 Cr. The last four reported quarters add to ₹2,342 Cr.
Why this happened. Data and AI portfolio grew 10x to 2.4 GW (42% of 5.7 GW contracted) in 2 years. Per-building AI chip power consumption is 10x conventional buildings. Apple partnership (second JV, Rs 104 Cr co-investment for 150 MW), Iron Mountain, NTT Data repeats, and ongoing engagement with Meta, Google, Amazon anchor the demand pipeline. 75% of new annual volume from existing clients signals franchise value.
FY26 revenue came in at ₹1,913 Cr (+27.9% on the year), capping 5 years at 25.2% compound. The latest quarter (Jun 26) printed ₹832 Cr, +107.0% year on year — the 3rd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +30.8% growth against the decade's 25.2% — the current year is running faster than its own long-run rate.
FY26-Q4. revenue ₹557 Cr and profit ₹45 Cr as reported.
FY27-Q1. revenue ₹832 Cr and profit ₹55 Cr as reported.
Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Clean Max Enviro Energy Solutions Ltd's operating margin is 51.0% in the Jun 26 quarter, −15.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 39.0% to 60.0%. The current quarter sits inside that band.
Why this happened. Weighted average borrowing cost reduced from 9.4% to 8.5% via portfolio refinancing of stabilized assets and proactive fixed-rate debt mix (now 40%). Under-construction portfolio currently carries higher rates; as projects commission and stabilize, refinancing unlocks further improvement. At Rs 12,684 Cr borrowings, each 50 bps reduction = approximately Rs 63 Cr annualized PAT uplift.
The latest quarter's operating margin is 51.0%, −15.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 39.0%–60.0%.
🚨 Why the margin moved: operating margin went −15.4 pp year on year while gross margin went −20.4 pp — the loss came mostly from the gross line: input costs and pricing.
FY26-Q4. revenue ₹557 Cr and profit ₹45 Cr as reported.
FY27-Q1. revenue ₹832 Cr and profit ₹55 Cr as reported.
Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Clean Max Enviro Energy Solutions Ltd earned ₹55.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹86.0 Cr. The 5-year compound rate is 28.0%. That is 6.6% of the quarter's revenue. The same quarter a year earlier lost ₹17.0 Cr. 2 of the last 8 reported quarters were loss-making.
Jun 26 profit was ₹55.0 Cr, null year on year. On the full year, FY26 printed ₹86.0 Cr (+352.6%), and the 5-year compound rate is 28.0%.
FY26-Q4. revenue ₹557 Cr and profit ₹45 Cr as reported.
FY27-Q1. revenue ₹832 Cr and profit ₹55 Cr as reported.
Why-sources: our stock research file (14 June 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 2,644% of Clean Max Enviro Energy Solutions Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹1,731 Cr of operating cash against ₹86.0 Cr of profit. After ₹7,704 Cr of capital spending, ₹−5,973 Cr was left as free cash.
FY26: operating cash of ₹1,731 Cr against reported profit of ₹86.0 Cr, leaving free cash of ₹−5,973 Cr after ₹7,704 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 2,644% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 2,644%: the cash cycle stretched 25 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 14.0× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Clean Max Enviro Energy Solutions Ltd's cash conversion cycle runs 53 days in FY26, up from 28 days in FY21. Capital spending ran ₹12,587 Cr over the last 3 years. At FY26 sales of ₹1,913 Cr each day of that cycle holds about ₹5.2 Cr, so roughly ₹278 Cr sits inside the business at any moment.
Why this happened. RE Services EBITDA margin expanded from 14.4% to 19.6% in FY26, with both gross margin and EBITDA margin improving simultaneously. Segment contributes 5–7% of consolidated EBITDA but growing faster (+40% revenue FY26 vs +26% for Power Sales) and provides an O&M annuity stream requiring minimal incremental capital.
Why this happened. 2.6 GW under construction at Mar 2026, average locked tariff Rs 3.85/unit, 70% solar/30% wind mix. 80%+ land already acquired (target 100% by Sep 2026). FY27 minimum guidance: 1.5 GW additions, requiring no new-contract dependency for execution. Run-rate EBITDA projected Rs 1,870 Cr at FY27 start vs Rs 1,295 Cr reported FY26 — 44% increase driven purely by commissioning backlog converting to annuity.
FY26: debtors at 53 days, inventory at 29 days — roughly 1.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 53 days, looser than FY21's 28.
The full loop: cash goes out to suppliers and production on day 0; stock waits 29 days to sell; customers pay about 53 days after that; and suppliers themselves are paid at 1,274 days — netting out to the 53-day cycle.
In money terms: at FY26 sales of ₹1,913 Cr, each day of the cycle holds about ₹5.2 Cr — so the 53-day loop keeps roughly ₹278 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹12,587 Cr over the last 3 fiscal years against ₹902 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹5,343 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Clean Max Enviro Energy Solutions Ltd earns a ROCE of 6% in FY26. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 4.5% net margin on 0.08× asset turns.
FY26 ROCE is 6%.
Why the return is what it is — the wiring (FY26): 4.5% net margin × 0.08× asset turns × 4.86× balance-sheet leverage ≈ 1.7% on equity. Margin does its share; leverage is a meaningful part of the equation.
The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 149% on reported income across 6 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Clean Max Enviro Energy Solutions Ltd carries ₹12,684 Cr of borrowings against ₹4,639 Cr of equity in FY26, a debt-to-equity of 2.73. Operating profit covers the interest bill 1×. Over 5 years borrowings went from ₹1,341 Cr to ₹12,684 Cr. Capital spending ran ₹12,587 Cr across the last 3 of those years.
FY26: borrowings of ₹12,684 Cr against equity of ₹4,639 Cr — a debt-to-equity of 2.73. Operating profit covers the interest bill 1×. Over 5 years borrowings went from ₹1,341 Cr to ₹12,684 Cr while capital spending ran ₹12,587 Cr in just the last 3 — part of the build-out is riding on borrowed money.
The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 149% on reported income across 6 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Clean Max Enviro Energy Solutions Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — .
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Clean Max Enviro Energy Solutions Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Clean Max Enviro Energy Solutions Ltd trades at 93.5× P/E, mid-range by its own standards (45th percentile). Its long-run median P/E is 125.8×, measured across 0.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 93.5× is mid-range by its own standards (45th percentile), against a long-run median of 125.8× measured over 0.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
The PEG ratio, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 149% on reported income across 6 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Clean Max Enviro Energy Solutions Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 1 curve, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +27.9% | +27.2% | +25.2% | — |
| Profit | +352.6% | — | +28.0% | — |
| EPS | −85.4% | — | −52.5% | — |
4-Factor Sector Score
44.4/100 — rank 1 of 1 in Power Generation & Supply · 44% evidence confidence · provisional, ranked below fully-evidenced peers
Clean Max Enviro Energy Solutions Ltd scores 44.4 out of 100 against the 1 companies it is compared with in Power Generation & Supply, ranking 1. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 15.7 + 8.7 + 10 + 10 = 44.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Clean Max Enviro Energy Solutions Ltd's management promised, set against what actually arrived — 3 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Capacity Addition Guidance Scope Changed · 3 August 2026. In May 2026, management defined the 1.5 GW target specifically as RE Power Sales capacity. In Aug 2026, management reported 500 MW of total Q1 commissioning, comprising only 400 MW of RE Power Sales and 100 MW of RE Services, while restating the target as operational capacity. Management did not explain whether RE Services capacity now counts toward the previously defined target, creating ambiguity in progress tracking and valuation models.
Bikaner Curtailment Outlook Deteriorated · 3 August 2026. Management's latest assessment materially worsens both the severity and expected duration of the Bikaner curtailment risk. In May 2026, curtailment was reported at approximately 30%, while the March 2026 call referenced a grid forecast for resolution by September; in Aug 2026, management reported approximately 70% backdown and assumed it would continue throughout the financial year. Although management said the number keeps changing, it did not identify a specific operational development explaining the deterioration, increasing the downside risk to EBITDA.
RE Power Sales EBITDA Margin Improvement Timeline Extended · 13 May 2026. In the Mar 2026 call, management stated that the RE Power Sales EBITDA margin (then at approximately 83%) would reach 85-86% within 2 to 3 years, implying an expected arrival by approximately FY28-FY29. The May 2026 call extended this same target to 3 to 4 years without any explanation for the pushout, implying FY29-FY30. A one-year delay in the margin improvement trajectory is material for analysts who anchored near-term earnings models to the earlier, more aggressive timeline.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Clean Max Enviro Energy Solutions Ltdthis pageCLEANMAX | 44.4/100Thin evidence · provisional44% evidence | ASLEEP | 15.7/35 Revenue 23.4% · PAT 100% · OPM change -15 pp 71% evidence | 8.7/25 ROCE 6.2% · OPM 51% 76% evidence | 10.0/20 P/E 93.5× · PEG — 0% evidence | 10.0/20 RS sector — · RS bench — · 1Y —4 of 5 weeks ahead 0% evidence |
| Exact sum: 15.7 + 8.7 + 10 + 10 = 44.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Clean Max Enviro Energy Solutions Ltd's share price today?
Clean Max Enviro Energy Solutions Ltd trades at ₹1,249. The company is valued at ₹14,666 Cr. The stock sits at 54% of its 52-week range of ₹999–₹1,457, +14.2% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 17 weeks in. — as of 14 August 2026.
What were Clean Max Enviro Energy Solutions Ltd's latest quarterly results?
Clean Max Enviro Energy Solutions Ltd reported revenue of ₹832 Cr and net profit of ₹55.0 Cr for the Jun 26 quarter. Earnings per share were ₹4.14. The operating margin was 51.0%, 15.0 pp lower than a year earlier. — as of 14 August 2026.
What is Clean Max Enviro Energy Solutions Ltd's revenue?
Clean Max Enviro Energy Solutions Ltd reported revenue of ₹832 Cr in the Jun 26 quarter, +107.0% year on year. For the full FY26 fiscal year, revenue was ₹1,913 Cr (+27.9%). Over the last 5 years revenue compounded at 25.2% a year. — as of 14 August 2026.
What is Clean Max Enviro Energy Solutions Ltd's profit?
Clean Max Enviro Energy Solutions Ltd earned ₹55.0 Cr of net profit in the Jun 26 quarter. Full-year FY26 profit was ₹86.0 Cr. The operating margin ran 51.0% in the latest quarter. — as of 14 August 2026.
What is Clean Max Enviro Energy Solutions Ltd's market cap?
Clean Max Enviro Energy Solutions Ltd's market capitalisation is ₹14,666 Cr at a share price of ₹1,249. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Clean Max Enviro Energy Solutions Ltd's P/E ratio?
Clean Max Enviro Energy Solutions Ltd trades at a P/E of 93.5×, at the 45th percentile of its own 0-year range, against a long-run median of 125.8×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Clean Max Enviro Energy Solutions Ltd pay a dividend?
No — Clean Max Enviro Energy Solutions Ltd has recorded a dividend payout of 0% of profit in each of its last 6 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 14 August 2026.
Is Clean Max Enviro Energy Solutions Ltd overvalued?
On its own history, Clean Max Enviro Energy Solutions Ltd looks mid-range: its P/E of 93.5× sits at the 45th percentile of its 0-year range (long-run median 125.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.
How is Clean Max Enviro Energy Solutions Ltd performing?
Clean Max Enviro Energy Solutions Ltd is in a confirmed uptrend, 17 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 1 week. This describes what the data did, not a rating. — as of 14 August 2026.
Is Clean Max Enviro Energy Solutions Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 17 of stage 2), trading +14.2% versus its 200-day average and at 54% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.
Is Clean Max Enviro Energy Solutions Ltd beating the market?
Not lately — on a trailing-13-week view Clean Max Enviro Energy Solutions Ltd is currently behind the NIFTY 500 (1 week and counting; last ahead the week of 2026-08-07), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4 months the stock moved +25% against the NIFTY 500's +3% — ahead of the index over the full window. — as of 14 August 2026.
Will Clean Max Enviro Energy Solutions Ltd's share price go up?
This page publishes no price forecast for Clean Max Enviro Energy Solutions Ltd. What it measures instead: the share price is ₹1,249, the price is in a confirmed uptrend 17 weeks in. Its P/E of 93.5× sits at the 45th percentile of its own 0-year range. — as of 14 August 2026.
Who owns Clean Max Enviro Energy Solutions Ltd?
Promoters hold 49.4% of Clean Max Enviro Energy Solutions Ltd, foreign institutions 11.2%, domestic institutions 14.7% and the public 24.7% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 14 August 2026.
Does Clean Max Enviro Energy Solutions Ltd have too much debt?
It carries real leverage — Clean Max Enviro Energy Solutions Ltd's debt-to-equity is 2.73, and operating profit covers the interest bill 1×. FY26 borrowings were ₹12,684 Cr against equity of ₹4,639 Cr. Read the returns on this page with that leverage in mind — as of 14 August 2026.
What is Clean Max Enviro Energy Solutions Ltd's capex?
Clean Max Enviro Energy Solutions Ltd spent ₹12,587 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹7,704 Cr, with ₹5,343 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Clean Max Enviro Energy Solutions Ltd's cash flow?
Clean Max Enviro Energy Solutions Ltd generated ₹1,731 Cr of operating cash flow in FY26 and ₹−5,973 Cr of free cash flow after ₹7,704 Cr of capital spending. Reported profit that year was ₹86.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Clean Max Enviro Energy Solutions Ltd's profit real cash?
Yes — over the last 3 fiscal years, 2,644% of Clean Max Enviro Energy Solutions Ltd's reported profit arrived as operating cash. Though the latest year ran at 2013% — the trend is the thing to watch. In FY26, operating cash was ₹1,731 Cr against reported profit of ₹86.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is Clean Max Enviro Energy Solutions Ltd in its business cycle?
Clean Max Enviro Energy Solutions Ltd's FY26 operating margin was 59.0%, against a 6-year band of 39.0%–60.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 51.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What could break the Clean Max Enviro Energy Solutions Ltd story?
Biggest watch item: the price is already 17 weeks into its uptrend — timing risk, not thesis risk. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.
Is Clean Max Enviro Energy Solutions Ltd a stock worth studying right now?
This is not investment advice. The machine read: Clean Max Enviro Energy Solutions Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.