Clean Max Enviro Energy Solutions Ltd. Share Price

Nuvoco Vistas Q2 Profit Surges 78% to ₹65 Crore

reported strong Q2 FY27 results, with consolidated net profit rising approximately 78% YoY to ₹64.79 crore from ₹36.43 crore. Revenue from operations increased 13.5% to ₹2,789.97 crore, despite erratic monsoon rainfall and higher operating costs. EBITDA grew approximately 11% YoY to ₹411 crore, while EBITDA margin stood at around 14.6%, compared with 14.9% last year. Cement sales volumes reached 4.7 million tonnes, reflecting healthy demand despite seasonal challenges. The company also commissioned 2 MTPA of grinding capacity at its Limda plant in Surat, strengthening its presence in Western India. Additionally, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid project in Rajasthan, expected to generate approximately 100 million units of renewable electricity annually. From a research perspective, double-digit revenue growth and higher cement volumes indicate improving business momentum. However, rising fuel, packaging and other input costs continue to pressure operating margins. Another positive factor is the decline in finance costs, which supported net profit growth despite relatively slower EBITDA expansion. Investors should monitor cement realisations, EBITDA per tonne, capacity utilisation, debt levels and execution of ongoing expansion projects. Learning Takeaway: In the cement industry, volume growth alone does not determine profitability. Investors should evaluate cement prices, EBITDA per tonne, energy costs and capacity utilisation to understand sustainable earnings growth. Disclosure: This post is for educational purposes only and does not constitute investment advice. Any holdings or conflicts of interest should be disclosed separately.

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Clean Max Enviro Energy Solutions Expands in Southeast Asia

DHARMESH BHATT (Research Analyst) SEBI Registration No. INH000009685 In a strategic move to accelerate its international expansion, Clean Max Enviro Energy Solutions Limited has announced the 100% acquisition of Thailand-based Massmunch Company Limited. The acquisition is executed through CleanMax’s indirect Thai subsidiaries to support and scale renewable energy capacity across Southeast Asia. ***** Key Highlights ***** Strategic Geographic Expansion: The acquisition directly supports the growth and development of CleanMax’s solar renewable energy capacity in Thailand. Acquisition Structure: CleanMax operates through its Dubai entity, Cleanmax Solar MENA FZCO, which holds two Thai subsidiaries—Cleanmax Energy (Thailand) Co. Ltd. (holding 99.99%) and Cleanmax IHQ (Thailand) Co. Ltd. (holding 0.01%). Enterprise Valuation: The total enterprise value for the 100% share capital acquisition is 1,250,000 Thai Baht (THB), paid via cash consideration. Completion Timeline: The transaction is slated for completion by October 31, 2026. Arm’s-Length Deal: The transaction does not fall under related party transactions, with no promoter interest involved. Strategic Significance : Massmunch Company Limited was incorporated in early 2025 specifically for renewable energy generation in Thailand. By absorbing the entity into its corporate fold, CleanMax builds on its established international footprint across India, the UAE, and Thailand. This strategic move aligns with CleanMax's broader initiative to deliver commercial and industrial solar solutions globally, leveraging local entity structures to build, own, and operate clean energy infrastructure across emerging Southeast Asian markets.

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Nuvoco plans 46.4 MW captive renewable project

Research Analyst: UJVIN NEVATIA (PROPRIETOR: NEVAT INVESTMENTS) | SEBI Registration No.: INH100009628 Nuvoco Vistas Corporation Limited (

) plans to acquire a 26% stake in a CleanMax subsidiary for a 46.4 MW wind-solar hybrid project in Rajasthan. What happened? The project will combine 20 MW of wind capacity, 26.4 MW of solar capacity and a 2 MWh battery storage system. It is expected to generate around 100 million units of electricity annually. Nuvoco's investment is capped at ₹26 crore. CleanMax will develop, operate and maintain the project under a 25-year arrangement. Why does it matter? Power and fuel are major operating costs for cement manufacturers. Captive renewable energy can reduce dependence on conventional electricity and exposure to fuel-price volatility. The project is also expected to help Nuvoco avoid approximately 1.25 lakh tonnes of annual CO₂ emissions. My view The investment is primarily an operating-cost management initiative rather than a new revenue opportunity. The group captive structure allows Nuvoco to secure renewable electricity without developing and operating the entire project itself. However, the actual savings will depend on electricity tariffs, generation efficiency and transmission costs. What I am watching next I would track project commissioning, renewable power consumption and power cost per tonne of cement. These will show whether the investment delivers measurable savings. No Recommendations Source: NDTV Profit Disclosure: I, my entity, associates or relatives do not have any holding, position or other material interest in Nuvoco Vistas Corporation Limited.

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CleanMax Raises ₹2,500 Crore Through Green Bonds

has raised ₹2,500 crore through India's first green bond issuance for the Commercial & Industrial (C&I) renewable energy sector. The fundraising was completed through secured, listed and redeemable Non-Convertible Debentures (NCDs) on a private placement basis, marking one of the company's largest domestic capital-market issuances to date. The NCD issuance is structured across five series, with maturities ranging from 2 to 10 years and fixed coupon rates between 8.25% and 8.76%. The bonds have received a CRISIL AA/Stable rating, reflecting the company's credit profile and financial fundamentals. The Green Bond Framework was independently reviewed by CareEdge Advisory for alignment with SEBI regulations and ICMA Green Bond Principles 2025. The funds will be utilised to finance or refinance large-scale renewable energy projects, including solar, wind, hybrid generation and battery storage. The issuance attracted participation from prominent institutional investors, including International Finance Corporation (IFC), NABFID, IIFCL, Aditya Birla Capital, IDFC First Bank and Nippon India Mutual Fund. The transaction provides CleanMax with long-term fixed-rate institutional capital while diversifying its funding sources beyond equity and project-level debt. The company has also established a Green Bond Committee to evaluate and monitor environmental and social impacts throughout the project lifecycle. As of June 30, 2026, CleanMax had a contracted renewable energy portfolio of 6.0 GW, with approximately 600 customers across technology, digital infrastructure, manufacturing and industrial sectors. Data centres and AI infrastructure customers contributed 42% of its contracted renewable energy power sales portfolio. Disclosure: I do not hold any position or financial interest in the mentioned stock.

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Clean Max Enviro Energy Solutions Ltd on different parameter

Quality Assessment:- The overall quality evaluation of Clean Max Enviro incorporates its financial strength, operational performance, and market positioning. The company’s return on capital employed (ROCE) of 16.5% and consistent profit growth over recent quarters support a favourable view of its fundamental health. Financial Trends:- Financially, Clean Max Enviro has demonstrated strong performance in the recent quarter, with net profit rising by 181.31% year-on-year. The company reported a quarterly profit after tax (PAT) of ₹48.52 crores, marking a 106.2% increase compared to the average of the previous four quarters. Net sales for the quarter reached ₹832.16 crores, reflecting a 74.0% rise over the same comparative period. Valuation Metrics:- In terms of valuation, Clean Max Enviro’s metrics suggest a shift from an attractive to a fair valuation category. The price-to-earnings (PE) ratio stands at 109.09, which is elevated compared to some peers but balanced by other factors. The price-to-book value ratio is 3.03, while enterprise value to EBIT and EBITDA ratios are 16.92 and 16.15 respectively, indicating moderate valuation multiples relative to earnings and cash flow Technical Indicators:- Recent market analysis reveals a transition in the technical outlook for Clean Max Enviro, moving from a sideways trend to a mildly bullish stance. Weekly Bollinger Bands have shown a bullish pattern, while the Dow Theory and On-Balance Volume (OBV) indicators on a weekly basis also suggest a mild upward momentum. This technical shift is further supported by the stock’s price action, which has seen a 6.0% increase on the latest trading day, reaching an intraday high of ₹1,480.20 against a previous close of ₹1,373.25.

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CleanMax: 4.2 GW built, but the stock trades at 90x

Clean Max Enviro Energy Solutions Limited (NSE: CLEANMAX) added a record 530 MW in Q1 FY27. Its operating portfolio is now about 4.2 GW, up from 3.6 GW. What happened Q1 FY27 revenue roughly doubled to ₹832 crore. The company posted a net profit of ₹48.5 crore against a loss a year ago. Management has set a floor of ₹3,000 crore of EBITDA for FY28. That is more than double the ₹1,295 crore reported in FY26. The stock listed in March at ₹1,053 and now trades near ₹1,280. Why it matters CleanMax sells power directly to companies, not to state utilities. Around 43% of its contracted capacity is tied to data centres and technology clients, with customers like Amazon, Google and Equinix. Contracts run for an average of 22.8 years. So the data centre boom shows up here as locked-in revenue, not as hope. My view Do not judge this stock on its P/E of about 90. Renewable assets carry heavy depreciation and interest, which crush early profits. Cash flow is the better measure. Add the market value of ₹15,000 crore to net debt of over ₹10,000 crore, and you get an enterprise value near ₹25,000 crore. Against FY26 EBITDA, that is about 19 times. If the FY28 floor of ₹3,000 crore is met, the same value falls to roughly 8 times. That is the whole bet. It must build a lot, on borrowed money, without slipping. Miss the target and the 90 times multiple stops looking clever. What I am watching Q2 FY27 results, due in November. Capacity additions above 400 MW a quarter and interest costs matter most. On the chart, ₹1,536 is the high and ₹1,150 is my line in the sand. My stance: Buy on dips near ₹1,150. Track EBITDA delivery, not quarterly profit. Disclosure: I do not hold a position in Clean Max Enviro Energy Solutions Limited at the time of writing. This is not investment advice.

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