Clean Max Enviro Energy
Stock Snapshot
Price Performance
Vista Outlook
View Technicals Analysis →Basis of our Recommendation
Clean Max Enviro Energy's recent management commentary highlights a robust growth trajectory, driven by a substantial 2.6 GW contracted capacity pipeline and a target of at least 1,500 MW in new capacity additions for FY26-27. The Data and AI segment is emerging as a key growth engine, with demand from AI workloads expected to drive significant revenue. High customer retention rates, with 74% of new volumes from existing clients, further bolster the company's competitive position. However, risks such as curtailment in CTU projects and regulatory uncertainties surrounding new DSM rules could impact earnings. Vista's financial outlook reflects stable revenue growth and improving margins, supported by a favorable pricing environment and operational efficiencies. The expected margin increase to 17.37% aligns with management's guidance for continued profitability. Industry dynamics, including strong demand for renewable energy and supportive policy frameworks, enhance Clean Max's growth prospects. Over the next 12-24 months, key opportunities include expanding into new states and leveraging the Data and AI segment, while watchpoints include regulatory challenges and potential impacts from elevated domestic module prices
Why We Like This Stock
- Strong contracted capacity pipeline of 2.6 GW and a target of 1,500 MW in new capacity additions
- High customer retention with 74% of new volumes from existing clients, indicating robust demand and relationships
- Positive industry dynamics with increasing demand for renewable energy and supportive policy frameworks
Things To Watch Out For
- Regulatory uncertainties surrounding new DSM rules could impact revenue and margins
- Curtailment risks in CTU projects, particularly in Rajasthan, affecting a portion of run-rate EBITDA
- Elevated domestic module prices may impact customer savings, although management expects to pass on costs
Key Parameters
Financial Snapshot
| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 1,390 | 1,496 | 1,913 | 3,124 | 3,896 |
| Profit Before Tax (Cr.) | 13 | 43 | 135 | 316 | 364 |
| PBT Margin | 0.9% | 2.9% | 705.7% | 10.1% | 9.4% |
| Net Profit (Cr.) | -108 | 4 | 69 | 237 | 238 |
| Earnings Per Share | -8.6 | 1.0 | 6.7 | 17.6 | 20.3 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Antique | ▲ Buy | 1,711 | 02-Jul-2026 |
| JPMorgan | ▲ Buy | 1,478 | 14-May-2026 |
Company Overview
Show Company Profile
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, textiles, and chemicals across India and internationally. Clean Max Enviro Energy Solutions Limited was incorporated in 2010 and is headquartered in Mumbai, India.