Clean Science & Technology Ltd. (CLEAN) AI Stock Analysis

• Market Cap: ₹91.48B
• Dividend Yield: 0.66%
• Average Volume (3M): 19.45K
• Price to Earnings (P/E): 37.3
• Beta (1Y): 0.81
• Revenue Growth: 12.16%
• EPS Growth: 2.96%
• Country: IN
• Employees: 457
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 4.30
• Shares Outstanding: 106,276,500
• 10 Day Avg. Volume: 21,755
• 30 Day Avg. Volume: 19,449
• PEG Ratio: 5.89
• Price to Book (P/B): 9.14
• Price to Sales (P/S): 13.39
• P/FCF Ratio: 180.04
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹857.00
• Price Target Upside: -0.86% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹851.00 ▼(-1.55% Downside)

Score is driven primarily by strong financial performance (growth, profitability, and very low leverage). This is offset by weak technical conditions (below key moving averages with negative MACD and oversold RSI) and a relatively expensive valuation (high P/E with low dividend yield).

Positive Factors

High Profitability and Margins

Sustained high gross and operating margins reflect process innovation and pricing power in specialty chemicals. These margins provide durable cash generation, support reinvestment into capacity and R&D, and create a buffer against raw-material volatility over the medium term.

Extremely Low Leverage and Strong Equity Base

Near-zero leverage and a high equity ratio give the company long-term financial resilience, low interest burden, and funding optionality. This balance sheet strength supports capex for capacity expansion, opportunistic M&A, and stability through industry cycles without financing stress.

Consistent Revenue Growth and Diversified B2B Mix

Double-digit recent revenue growth, coupled with sales across performance chemicals, pharma intermediates and FMCG ingredients, points to a diversified B2B revenue base. This mix reduces exposure to any single end-market and supports sustainable demand and pricing leverage over multiple cycles.

Negative Factors

Low Free Cash Flow Conversion

A sub-0.3 FCF-to-net-income ratio indicates a sizable gap between accounting profits and cash retained after investments. Persistently low conversion can constrain internal funding for growth, limit dividend or buyback capacity, and increase sensitivity to working-capital swings.

Negative EPS Growth Trend

Negative EPS growth despite strong margins signals potential dilution, non-recurring items, or pressure on per-share earnings. Over months this can undermine returns to shareholders and suggests management must improve capital allocation or operational levers to restore per-share growth.

Limited Disclosure on Customer/Contract Concentration

Absence of disclosed customer concentration or long-term contract detail reduces visibility into revenue durability and bargaining dynamics. If a few large customers drive sales, the company could face sudden demand shifts or pricing pressure, raising structural revenue and margin risk.

Clean Science & Technology Ltd. Business Overview & Revenue Model

Company Description

Clean Science and Technology Limited engages in the research, development, manufacture, and marketing of specialty chemicals in India and internationally. The company offers anisole, mono methyl ether of hydroquinone, guaiacol, 4-methoxy acetophenone, butylated hydroxy anisole, veratrole, L-ascorbyl palmitate, N,N'-dicyclohexylcarbodiimide, tertiary butyl hydroquinone, para benzoquinone, 2,5-di-tertiary butyl hydroquinone, and para di-methoxy benzene (1,4-DMB). It serves consumer and industrial markets. The company was incorporated in 2003 and is based in Pune, India.

How the Company Makes Money

Clean Science & Technology Ltd. generates revenue through the production and sale of specialty chemicals, particularly in agrochemicals and pharmaceuticals. The company has established a robust revenue model that includes direct sales to end-users and long-term contracts with major corporations in its target sectors. Key revenue streams include the sale of its proprietary chemical products, research and development services, and licensing agreements for its innovative technologies. Additionally, partnerships with leading companies in the agrochemical and pharmaceutical industries enhance CLEAN's market reach and contribute to its earnings by securing stable demand for its products.

Clean Science & Technology Ltd. Financial Statement Overview

Summary

Strong fundamentals supported by high Income Statement score (85) with solid revenue growth and strong profitability/margins, a robust Balance Sheet (80) with minimal leverage and high equity ratio, and positive Cash Flow (75) with decent cash generation but comparatively weaker free cash flow conversion.

Income Statement

The company exhibits strong revenue growth with a 24% increase from 2024 to 2025 and a consistent increase over the years. Gross profit margin is solid at 67.7% for 2025, indicating strong cost control. Net profit margin stands at 27.3%, showcasing profitability. EBIT and EBITDA margins are impressive at 61.9% and 44.1% respectively, reflecting effective operational efficiency.

Balance Sheet

The balance sheet is robust with a low debt-to-equity ratio of 0.0015, indicating minimal leverage. Return on equity is healthy at 18.7%, signaling efficient use of equity. The equity ratio is strong at 88.1%, highlighting financial stability and low reliance on debt.

Cash Flow

The cash flow statement shows positive free cash flow, though with a modest growth rate. Operating cash flow to net income ratio is 0.81, indicating good cash generation from operations. The free cash flow to net income ratio is 0.27, pointing to effective capital expenditure management, though with room for improvement.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.86B	9.67B	7.91B	9.36B	6.85B	5.12B
Gross Profit	6.42B	6.08B	5.07B	5.10B	4.47B	3.77B
EBITDA	3.83B	3.87B	3.31B	4.02B	3.00B	2.59B
Net Income	2.69B	2.64B	2.44B	2.95B	2.28B	1.98B
Balance Sheet
Total Assets	0.00	16.08B	13.96B	11.52B	9.25B	6.60B
Cash, Cash Equivalents and Short-Term Investments	3.64B	3.64B	3.13B	3.42B	2.97B	2.48B
Total Debt	0.00	21.28M	20.30M	20.58M	3.31M	3.31M
Total Liabilities	-14.16B	1.91B	1.93B	1.42B	1.56B	1.20B
Stockholders Equity	14.16B	14.16B	12.03B	10.10B	7.68B	5.40B
Cash Flow
Free Cash Flow	0.00	718.88M	47.96M	959.57M	-124.09M	1.08B
Operating Cash Flow	0.00	2.14B	2.37B	2.79B	1.27B	1.93B
Investing Cash Flow	0.00	-1.52B	-1.86B	-2.70B	-785.51M	-1.87B
Financing Cash Flow	0.00	-525.09M	-531.91M	-550.26M	-1.47M	-58.93M

Clean Science & Technology Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 864.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CLEAN, the sentiment is Negative. The current price of 864.4 is above the 20-day moving average (MA) of 855.66, below the 50-day MA of 881.62, and below the 200-day MA of 1138.27, indicating a bearish trend. The MACD of -13.64 indicates Positive momentum. The RSI at 29.82 is Positive, neither overbought nor oversold. The STOCH value of 28.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CLEAN.

Clean Science & Technology Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VINATIORGA	69 Neutral	₹157.98B	35.67	―	0.48%	8.96%	17.70%
FINEORG	68 Neutral	₹129.91B	32.04	―	0.26%	5.73%	-7.74%
ANURAS	66 Neutral	₹141.76B	91.26	―	0.06%	69.32%	113.55%
CLEAN	63 Neutral	₹91.48B	37.26	―	0.66%	12.16%	2.96%
AARTIIND	62 Neutral	₹134.76B	35.65	―	0.26%	8.26%	-34.62%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ALKYLAMINE	61 Neutral	₹80.23B	44.04	―	0.62%	3.95%	8.28%

Clean Science & Technology Ltd. Corporate Events

Clean Science & Technology Files SEBI Compliance Certificate on Demat Processes

Clean Science and Technology Limited has submitted to stock exchanges a confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025. The registrar and share transfer agent, MUFG Intime India Private Limited, confirmed that all securities received for dematerialisation or rematerialisation during the quarter were appropriately processed, listed on the relevant stock exchanges, and that physical certificates were duly verified, cancelled, and replaced with depository records within prescribed timelines, underscoring the company’s ongoing compliance with securities handling and listing norms.

Clean Science & Technology Announces Director’s Resignation at Wholly Owned Subsidiary

Clean Science & Technology Ltd. has announced that Parth Ashok Maheshwari has resigned as a director of its wholly owned subsidiary, Clean Fino-Chem Limited, effective from the close of business on 1 January 2026. The board of Clean Fino-Chem has accepted his resignation by way of a circular resolution, and Maheshwari has stated that he is stepping down to pursue personal interests and that there are no material reasons behind his decision, suggesting no immediate operational or governance concerns for the company or its stakeholders.

Clean Science & Technology Ltd. Expands Employee Stock Options

Clean Science & Technology Ltd. has announced the allotment of 2,708 equity shares to eligible employees under its Employee Stock Option Scheme 2021. This move increases the company’s paid-up share capital, reflecting its commitment to employee engagement and retention, and potentially strengthening its market position.