Clean Max Enviro Energy shares rise over 5% as company swings back to profit in Q3, EBITDA up 34%

The stock rose as much as 5.49% to ₹939.60 per share on the National Stock Exchange (NSE) in the early trade. At 9:27 am, it was up 1.22% to ₹901.60 apiece.

Clean Max Enviro Energy Q3 results

Clean Max Enviro Energy posted a net profit of ₹21.17 crore in the three months ending December 2025. In the year-ago period, it had reported a net loss of ₹4.31 crore, according to an exchange filing.

Its consolidated revenue from operations increased 13% to ₹422.45 crore in the December quarter of the current financial year, compared to ₹373.72 crore in the same period of the previous fiscal year.

The company's operating profit, or earnings before interest, taxes, depreciation and amortisation (EBITDA), rose 33.96% to ₹564 crore in Q3 FY26 as against ₹421 crore a year back.

As of March 1, 2025, CleanMax has a total energy sale (contracted capacity) of around 5.7 GW (compared to 1.75 GW as of April 1, 2024; 4.4 GW as of April 1, 2025; and 5.5 GW as of December 31, 2025).

"A key driver of this growth has been the demand from the data and AI sector, which now represents 42% of contracted capacity (2.4 GW), which has risen by ~10 times in the last 2 years. The company also recently commissioned its first 0.5 GW CTU-connected plant in Bikaner, designed to supply renewable energy offsets to data and AI customers," the company said in a regulatory filing.

Clean Max Enviro Energy Solutions hit the primary market on March 2 at ₹960 per share on the NSE, reflecting a discount of 8.83% compared to the IPO issue price of ₹1,053 apiece.

The ₹3,100 crore initial public offering was a fresh issuance of shares aggregating to ₹1,200 crore and an offer for sale of ₹1,900 crore.