📣 𝗡𝗲𝘄𝘀 𝗦𝘁𝗼𝗿𝘆: 𝗠𝗲𝘁𝗮, 𝗖𝗹𝗲𝗮𝗻𝗠𝗮𝘅 𝗽𝗮𝗿𝘁𝗻𝗲𝗿 𝗼𝗻 𝟵𝟬𝟬𝗠𝗪 𝗿𝗲𝗻𝗲𝘄𝗮𝗯𝗹𝗲𝘀 𝗶𝗻 𝗜𝗻𝗱𝗶𝗮 Indian renewable energy developer CleanMax and technology firm Meta have agreed to partner on the development of 837MW of wind and solar projects in India, in addition to previously announced projects. Read the full article by Keertiman Upadhyay: okt.to/4pxTZO #ArgusMedia #IlluminatingTheMarkets

Yess.. CleanMax is Going to be Massive

Cleanmax has a JV with Apple India, a recent order from Meta, and Google as a client.

#CLEANMAX could be India's GE Vernova $GEV — Let's compare their valuations and estimate a target stock-price ↓ After the Meta 900 MW deal, this stock deserves a different framework. WHY GE VERNOVA? GEV became the poster stock for AI data center power infrastructure. Gas turbines, hyperscaler clients, long-term contracts, massive backlog. CleanMax shares the same DNA — just in India: • Same clients: Meta, Apple, Google, Amazon, Equinix • Same demand driver: AI data centers needing 24/7 guaranteed power • Same revenue structure: ultra-long contracts (22-yr avg PPA tenure) • Same backlog logic: 5.7 GW contracted vs 3.1 GW operational — nearly 2x current base already signed WHY EV/EBITDA AND NOT P/REVENUE? CleanMax's EBITDA margin is ~67%. GEV's is ~8%. Using EV/Revenue would make CleanMax look "expensive" at 11.5x vs GEV at 6x — but that's purely the margin difference at work. A company with 8x higher margins should command higher revenue multiples. The fair comparison is EV/EBITDA: • GEV currently trades at ~40x NTM EV/EBITDA (more than 2x the sector median of ~17x) • CleanMax trades at just ~12x run-rate EBITDA That gap is where the re-rating story lives. WHAT DO THE NUMBERS LOOK LIKE? CleanMax run-rate EBITDA: ₹1,870 Cr (commissioned fleet as of Apr '26) Net Debt: ~₹6,150 Cr Shares: ~12.86 Cr Pre-deal stock price: ~₹1,232 If CleanMax were to ever trade at GEV-equivalent multiples: @ 27x EV/EBITDA → ₹3,447/share ( 180%) @ 40x EV/EBITDA → ₹5,338/share ( 333%) @ 50x EV/EBITDA → ₹6,792/share ( 452%) CleanMax deserves a discount to GEV (it's an IPP/developer, not a manufacturer, and is India-listed) — so a realistic re-rating range would be 25–35x, implying ₹2,950–₹4,700/share. For context: every analyst covering it today (HSBC, JPM, IIFL) has targets of ₹1,150–1,340 — all built on ~10–12x utility-style multiples. None have priced in an AI infrastructure narrative re-rating yet. has THE CAVEAT None of this is a price target or financial advice. These are scenario illustrations of what happens if the narrative and multiple re-rating that played out for GEV in the US were to partially replicate for CleanMax in India. Key risks: India open-access tariff regulation, high leverage (4.75x Net Debt/EBITDA), PAT is still thin (₹85.6 Cr), and GEV-style multiples in Indian markets have zero historical precedent for a developer. But the structural thesis is clean: same clients, same AI power demand, already funded pipeline, and currently priced like a utility.

What's Your Highest Conviction Stocks that you're Holding in your Portfolio Right Now and Not Even think of Selling atleast for Next 5years.. Comment Below 👇 Mine : Aditya Infotech and Cleanmax Enviro solutions

Bloom is different beast man read about fuel cells and gas turbines shortage why some dc adopting those .. cleanmax is like energy provider to dc and other c&i . There r r many like that in india but it cracked great clients . Market so far not convinced r not excited as much even after meta deal

Thanks for feedback. What's your overall opinion on Cleanmax? What's a good thinking framework for this stock?

What can be a good framework to think about the case of Cleanmax? Is there any other counterpart in US-Market which we can use for making comparison?

Power source? Nearly 1GW of clean & renewable energy via CleanMax Fourth Partner Energy. Cooled with desalinated seawater. This is world-class infrastructure — not a server room. ♻️⚡

What do you think about comparing CLEANMAX to GE VERNOVA to estimate a target stock-price:

The last catalyst for #CLEANMAX occurred around mid-May, which drove the stock-price up. It happened as a result of multiple partnership announcements. The current trigger from the $META 900MW deal sounds much bigger, but somehow didn't drive up the price higher than the previous levels. Does it make you think if the stock still has potential to go higher from its current levels?