Clean Max Enviro
BSE: CLEANMAX · Power Generation
Snapshot
Unlock Clean Max Enviro's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
CleanMax Enviro Energy Solutions is India's largest provider of renewable energy for the Commercial and Industrial (C&I) sector. The company specialises in delivering sustainable power solutions through open access and captive renewable energy projects.
Business Model
The company generates revenue by providing renewable energy solutions to commercial and industrial clients, leveraging an operational capacity of 2.80 GW. It operates through a model focused on long-term power supply agreements with a diverse base of 555 customers.
- Operational Capacity:2.80 GW
- Customer Base:555
Growth Outlook
Growth is driven by the increasing demand for renewable energy among commercial and industrial consumers seeking to decarbonise their operations. The company maintains a strong market position with an 8% share in FY25 open access capacity additions.
- FY25 Open Access Market Share:8%
Key Risks
- Regulatory Risk. Changes in state-level open access policies and grid connectivity regulations could impact project viability and profitability.
- Counterparty Credit Risk. The company's revenue is dependent on the financial health and payment reliability of its commercial and industrial customers.
- Execution and Operational Risk. Delays in project commissioning or technical underperformance of renewable assets could adversely affect operational targets.
- Competitive Intensity. The C&I renewable energy sector is becoming increasingly crowded, which may lead to margin compression and pricing pressure.
Price
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Peers · Power Generation
| Company | Mkt Cap (Cr) | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
Clean Max EnviroCLEANMAX | 9,604 | — | — | — | 59.0% | — | — | — |
Jaiprakash Power Ventures Ltd.JPPOWER | 10,225 | 34.67 | 8.95 | 1.9% | 28.7% | 3.6% | 6.9% | -28.5% |
Reliance Power Ltd.RPOWER | 8,925 | -30.36 | 8.70 | 0.5% | 35.9% | -2.1% | 4.8% | -62.8% |
GMR Power And Urban Infra LimitedGMRP&UI | 7,919 | 12.10 | 9.21 | 15.6% | 27.6% | 67.0% | 20.4% | -18.4% |
KPI Green Energy LimitedKPIGREEN | 7,401 | 16.85 | 12.41 | 55.3% | 37.2% | 18.8% | 17.6% | -26.9% |
Inox Green Energy Services LimitedINOXGREEN | 5,639 | 71.08 | 38.14 | 24.2% | 68.6% | 5.4% | 8.1% | +23.4% |
As of Mar 2026
Financials
Clean Max Enviro
BSE: CLEANMAX · Power Generation
Snapshot
Unlock Clean Max Enviro's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
CleanMax Enviro Energy Solutions is India's largest provider of renewable energy for the Commercial and Industrial (C&I) sector. The company specialises in delivering sustainable power solutions through open access and captive renewable energy projects.
Business Model
The company generates revenue by providing renewable energy solutions to commercial and industrial clients, leveraging an operational capacity of 2.80 GW. It operates through a model focused on long-term power supply agreements with a diverse base of 555 customers.
- Operational Capacity:2.80 GW
- Customer Base:555
Growth Outlook
Growth is driven by the increasing demand for renewable energy among commercial and industrial consumers seeking to decarbonise their operations. The company maintains a strong market position with an 8% share in FY25 open access capacity additions.
- FY25 Open Access Market Share:8%
Key Risks
- Regulatory Risk. Changes in state-level open access policies and grid connectivity regulations could impact project viability and profitability.
- Counterparty Credit Risk. The company's revenue is dependent on the financial health and payment reliability of its commercial and industrial customers.
- Execution and Operational Risk. Delays in project commissioning or technical underperformance of renewable assets could adversely affect operational targets.
- Competitive Intensity. The C&I renewable energy sector is becoming increasingly crowded, which may lead to margin compression and pricing pressure.
Price
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Unlock AI insights, financials, peers and live data on Clean Max Enviro and 5,000+ companies — free.
Peers · Power Generation
As of Mar 2026