CLEAN MAX ENVIRO EN SOL L (CLEANMAX)
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Macquarie sets ₹1,700 target on CleanMax after Q2
CleanMax share price: Macquarie sees upside to FY27 estimates, sets ₹1,700 target after Q2 - Published OnNov 4, 2026 | 09:44 IST - Last Updated OnNov 4, 2026 | 09:44 IST Macquarie believes the company remains on track to achieve its estimated capacity addition of 1.6 GW in FY27. The brokerage added that the EBITDA performance in the first half of FY27 presents an upside risk to its full-year estimates. Shares of Clean Max Enviro Energy Solutions Ltd.
CleanMax H1 FY27 revenue jumps 67% to ₹1,560 crore
Listen to this article in summarized format For H1 FY27, revenue from operations grew 67% to ₹1,560 crore, while reported EBITDA increased 58% to ₹1,011 crore. H1 PAT rose more than six-fold to ₹120 crore, compared with ₹19 crore in H1 FY26. Repeat customers accounted for ~85% of newly contracted capacity.
CleanMax Raises ₹2,500 Crore via Green NCDs from Institutions
Clean Max Enviro has raised ₹2,500 crore through green non-convertible debentures (NCDs) from institutional investors, with the issuance also described as green bonds. The deal marks one of the larger green debt raises in the Indian market, underscoring growing institutional appetite for renewable-energy-linked paper. The company has not yet disclosed the use of proceeds or the coupon structure.
Macquarie initiates Clean Max coverage with outperform rating
With today’s gain, the stock has risen 13% over the past three sessions. Macquarie is the second brokerage to initiate coverage of the stock in two sessions, following JM Financial. Why is Macquarie bullish on Clean Max shares? Macquarie expects CleanMax's installed base to more than double to around 8 GW by FY29E.