Clean Science and Technology Limited

Clean Science and Technology Limited — the brief

Forensic posture: Clean disclosures. The auditor issued an unqualified opinion with zero flags, related-party dealings are routine (mostly ₹214.89 Cr in subsidiary funding), contingent liabilities sit at a benign 7.8% of net worth, and earnings quality scores excellent at 82/100 with strong cash conversion—though the fundamental-quality scorecard shows mixed signals.

What retail misses·The Piotroski weakness (score 3 out of 8) signals deteriorating operational metrics beneath the surface—return-on-assets is falling, borrowings are rising, and asset turnover is shrinking—none of which show up in standard profit-growth headlines but are captured in rigorous fundamental health checks.

Strengths noted in disclosures: Auditor (PwC) signed off unqualified with zero high, material, or minor flags. · Contingent liabilities total ₹110.56 Cr, only 7.8% of net worth; largest item is ₹66.88 Cr in EPCG export obligations (a known government-trade scheme, not a dispute). · Earnings quality composite of 82/100 reflects excellent cash-to-profit alignment and low manipulation risk; Altman bankruptcy model flags zero stress at a score of 27.5.