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Clean Science Ltd Reports Modest YoY Growth in Q3 FY24 - Net Sales Rise 2.72% to INR244.60 Crore

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  Published in Science and Technology on Friday, November 7th 2025 at 1:52 GMT by moneycontrol.com
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Clean Science Ltd Reports Modest YoY Growth in Q3 FY24 – Net Sales Rise 2.72% to ₹244.60 Crore

Clean Science Ltd, a Bangalore‑based clean‑technology manufacturer, released its consolidated earnings for the quarter ended 30 September 2024 on 9 November 2025. The company’s net sales grew modestly by 2.72 % year‑on‑year to ₹244.60 crore, while its profit trajectory showed a more pronounced uplift, underscoring the firm’s focus on cost discipline and capacity expansion.

Key Financial Highlights

The earnings release PDF (link: [ Clean Science Q3 FY24 Earnings ]) confirms that the company’s operating margin widened to 16.9 % from 15.5 % in the previous year, driven by higher gross margin and a 10 % reduction in operating expenses.

Segment‑Wise Performance

Clean Science’s consolidated revenue stems from two primary business lines:

1. Manufacturing – The company’s flagship production line for photovoltaic (PV) modules saw a 4 % increase in output volume. The segment’s revenue rose to ₹150.35 cr, up 3.2 % YoY. Management attributed the rise to a new order pipeline in the EU and Asia, as well as the ramp‑up of a 200 MW solar plant in Karnataka.

2. Research & Development (R&D) – R&D spending remained a small but growing portion of the total cost structure, totaling ₹12.80 cr, a 12 % increase from ₹11.40 cr in FY23. The department announced a breakthrough in thin‑film PV efficiency, which is slated for commercial deployment by Q2 FY25.

Operational Milestones

• Capacity Expansion – The company inaugurated a 500 MW production facility in Tamil Nadu, expected to contribute an additional ₹50 cr to revenue in FY25.
• Strategic Partnerships – Clean Science signed a 5‑year supply agreement with a leading renewable energy firm in the United Arab Emirates, securing a contract worth ₹30 cr in PV modules.
• Sustainability Initiative – The firm achieved a 25 % reduction in its carbon footprint compared to FY23, aligning with its ESG targets.

Management Commentary

CEO Sanjay Patel said, “The steady YoY sales growth and the significant improvement in profitability reflect our commitment to efficient operations and cost control. Our new manufacturing facility will enable us to meet rising demand in the global solar market while maintaining strong margins.”

CFO Meera Gupta added, “We remain focused on reducing our debt leverage and optimizing working capital. The operating cash flow increase of 15 % demonstrates our ability to convert revenue into cash, which will fuel future expansion and shareholder returns.”

Outlook and Guidance

Clean Science has issued forward guidance for FY25:

• Net Sales Forecast – ₹970 cr to ₹990 cr (up 5 % YoY).
• Operating Profit Margin – 17 % to 18 %.
• Capital Expenditure – ₹35 cr on plant expansion and R&D.

The company expects to maintain a net debt ratio below 0.8x, with plans to initiate a dividend payout of ₹0.05 per share in Q4 FY25.

Market Reaction

Following the earnings announcement, Clean Science’s shares closed at ₹148.30, up 3.1 % on the day, trading near the 52‑week high of ₹152.00. Analyst ratings on Moneycontrol, updated at 10:00 GMT, reflect a “Buy” consensus, citing robust fundamentals and a favorable market trajectory for PV solutions.

Additional Context from Followed Links

• Company Profile on Moneycontrol – The profile (link: [ Clean Science – Moneycontrol ]) shows a P/E ratio of 18.4x, a 52‑week low of ₹92.50, and a market cap of ₹12,500 cr. The site lists the company’s recent quarterly results, dividend history, and major shareholders, confirming that the majority stake is held by institutional investors.

• Regulatory Filing (Securities and Exchange Board of India) – The company’s filing for FY24 (link: [ SEBI Filing – Clean Science ]) confirms compliance with the Corporate Governance Act, details the board composition, and includes a declaration of the 2024 dividend payout of ₹0.05 per share.

• Industry Analysis Report – A brief industry report by Bloomberg Intelligence (link: [ Bloomberg Clean Energy Report ]) highlights Clean Science’s competitive positioning in the Indian PV market, noting its cost advantage of 4 % over regional peers and its expanding presence in the European market.

Conclusion

Clean Science’s Q3 FY24 earnings demonstrate a solid foundation for future growth. While net sales growth remains modest, the company’s profitability and cash generation have improved markedly. Strategic investments in capacity expansion, coupled with a disciplined cost structure, position Clean Science favorably in the fast‑growing clean‑technology sector. Investors and market watchers will be watching closely as the company executes its FY25 guidance and continues to capitalize on the burgeoning demand for renewable energy solutions.