Скачать или смотреть CleanMax Enviro Energy IPO Analysis | Profit Decline Alert! | GMP, Financials, Review Hindi | Avoid?

CleanMax Enviro Energy IPO Analysis | Profit Decline Alert! | GMP, Financials, Review Hindi | Avoid?

🔥 CleanMax Enviro Energy IPO 2026 - Complete Honest Analysis in Hindi 🔥

India's largest C&I renewable energy company IPO la rahi hai! Par PE 377x aur Debt ₹8,000 Cr! Apply karein ya skip? 😱

📊 IPO की पूरी जानकारी:
✅ Company: CleanMax Enviro Energy Solutions Ltd
✅ Business: B2B Solar + Wind + Hybrid Power (Commercial & Industrial)
✅ Founded: 2010 (15 years old)
✅ Headquarters: Mumbai, Maharashtra
✅ Owner: Brookfield Corporation (Canada) - Majority stake
✅ Capacity: 2.54 GW Operational + 2.53 GW Under Execution
✅ Clients: Google, Adobe, HCL, ITC, Taj, Dr. Reddy's, L&T, Bajaj
✅ PPAs: 22.8 years average contract duration
✅ Network: 300+ clients across India

💰 IPO Complete Details:
Issue Size: ₹3,100 Crores (MASSIVE!)
Fresh Issue: ₹1,200 Cr (39%)
OFS (Offer for Sale): ₹1,900 Cr (61% - Brookfield exiting!)
Price Band: ₹1,000 - ₹1,053 per share
Face Value: ₹1 (Premium 1,000x!)
Lot Size: 14 shares
Min Investment: ₹14,742 (1 lot)
Max Retail: ₹1,94,688 (13 lots)
Anchor Raised: ₹921 Cr from 41 investors
Opening: 23 Feb 2026 (Monday)
Closing: 25 Feb 2026 (Wednesday)
Allotment: 26 Feb 2026 (Thursday)
Listing: 2 March 2026 (Monday)
Platform: BSE + NSE Mainboard

📈 Financial Performance (Critical Analysis!):
FY23: Revenue ₹929.58 Cr | Loss ₹59.47 Cr ❌
FY24: Revenue ₹1,425.31 Cr | Loss ₹37.64 Cr ❌
FY25: Revenue ₹1,610.34 Cr (+13%) | Profit ₹19.43 Cr ✅ (Finally Profitable!)
H1 FY26: Revenue ₹932.77 Cr | Profit ₹82.38 Cr

Key Metrics:
Net Profit Margin: 1.2% (Very Thin!)
EBITDA Margin: 68% (Strong)
Total Debt: ₹7,974 Crores (5x Revenue!) 😱
Debt/Equity: 2.39x (Very High!)
ROE: 1.09% (Low!)
ROCE: 10.74%

⚠️ VALUATION SHOCK:
EPS (FY25): ₹2.79
IPO Price: ₹1,053
PE Ratio: 377x (Three Hundred Seventy Seven!) 🤯
Industry Average: 15-40x
NTPC Renewable: PE 15-20x
Adani Green: PE 40-50x
CleanMax: PE 377x (10x EXPENSIVE!)

🎯 Current Market Status:
GMP: ₹3 (Pathetic!)
Expected Listing: ₹1,056
Expected Gain: 0.28% ONLY! (₹41 per lot)
Expert Rating: AVOID ❌
Reason: "Aggressively priced at 377x PE"

💡 Fund Utilization:
Debt Repayment: ₹1,122.67 Cr (93% of fresh issue!)
General Corporate: Remaining
⚠️ Note: 93% funds debt chukane mein - NO GROWTH CAPEX!

🏆 Anchor Investors (Big Names):
✅ SBI Life Insurance
✅ Nomura India
✅ Abu Dhabi Investment Authority
✅ Societe Generale
✅ Eastspring Investments
✅ 41 Total Investors - ₹921 Cr raised

⚠️ RED FLAGS to Consider:
❌ PE 377x (10x expensive vs peers!)
❌ Debt ₹8,000 Cr (5x revenue - crushing burden!)
❌ GMP ₹3 (Market not excited!)
❌ Only 1 year profitable (FY23-24 losses!)
❌ 93% funds → Debt repayment (Not for growth!)
❌ OFS 61% (Brookfield exiting!)
❌ Net margin 1.2% (Very thin!)
❌ Customer concentration (Top 10 = 36%)
❌ Geographic concentration (Karnataka 48%, Gujarat 30%)
❌ Weather dependent (Solar/Wind variability)
❌ ROE 1.09% (Very low return!)
❌ Expert says AVOID

✅ Positive Points (Limited):
✅ India's #1 C&I renewable energy player
✅ Strong operational capacity (2.54 GW)
✅ Big tech clients (Google, Adobe, HCL)
✅ Long-term contracts (22.8 years)
✅ Turned profitable in FY25
✅ Growing renewable energy sector
✅ AI/Data centers demand (43% capacity)
✅ Strong anchor book (₹921 Cr)

⏰ Video Timestamps:
0:00 - Powerful Hook
0:45 - Company Story & Business Model
1:45 - IPO Complete Details
2:45 - Financial Deep Dive (Critical!)
3:45 - GMP & Valuation Reality Check
4:45 - Final Honest Verdict

🎯 EXPERT RATING:
Arihant Plus: AVOID ❌
Reason: "Aggressively priced at PE 377x, suitable only for high-risk long-term investors, not recommended for listing gains"

💯 MY FINAL VERDICT:
❌ Rating: 4/10 (Below Average)
❌ Listing Gains: STRONG AVOID (GMP ₹3!)
❌ Long-Term: HIGH RISK AVOID (PE 377x + Debt bomb!)
❌ Recommendation: SKIP THIS IPO!

💡 Better Strategy:
Wait for 30-40% correction post-listing, then evaluate at lower valuations!

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📌 Disclaimer: This is educational content only. Stock market investments involve risk. Do your own research or consult a SEBI registered financial advisor before investing. I am not a SEBI registered advisor. This is not a buy/sell recommendation.

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