Race Eco Chain Ltd

Race Eco Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Race Eco Chain Ltd

₹ 330 1.29%
26 Apr - close price
raceecochain.com BSE: 537785 NSE : RACE
About

Incorporated in 1999, Race Eco Chain Ltd is engaged in the collection and supply of recyclable waste to recyclers. Company also manufactures recycled products[1]

Key Points

Business Overview:[1]
RACE (Recycling and Circular Economy) aggregates plastic waste and produces recycled products, reducing the carbon footprint. Their vertical setup ensures waste collection, auditing, and product creation, employing AI for traceability. They've developed an AI-powered app with blockchain for secure transactions connecting buyers and sellers. Recycled PET fabric from their GRS-certified mills offers a traceable circle of trust.

Website BSE NSE
  • Market Cap ₹ 543 Cr.
  • Current Price ₹ 330
  • High / Low ₹ 409 / 190
  • Stock P/E 258
  • Book Value ₹ 13.2
  • Dividend Yield 0.00 %
  • ROCE 8.27 %
  • ROE 6.53 %
  • Face Value ₹ 10.0
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Pros

  • Company's working capital requirements have reduced from 69.5 days to 40.5 days

Cons

  • Stock is trading at 24.9 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 5.16% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 31.8% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Trading Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
42.78 49.18 84.81 92.32 110.74 78.88 69.40
42.46 48.84 84.22 91.48 108.81 77.61 68.10
Operating Profit 0.32 0.34 0.59 0.84 1.93 1.27 1.30
OPM % 0.75% 0.69% 0.70% 0.91% 1.74% 1.61% 1.87%
0.21 0.30 0.15 0.19 0.03 0.06 0.14
Interest 0.14 0.19 0.12 0.26 0.55 0.77 0.77
Depreciation 0.11 0.10 0.11 0.13 0.12 0.13 0.14
Profit before tax 0.28 0.35 0.51 0.64 1.29 0.43 0.53
Tax % 32.14% 20.00% 29.41% 31.25% 29.46% 32.56% 13.21%
0.19 0.28 0.36 0.44 0.91 0.30 0.45
EPS in Rs 0.12 0.17 0.22 0.27 0.55 0.18 0.27
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
32 34 40 42 42 35 55 50 16 59 157 269 351
31 34 39 42 41 34 54 50 16 59 157 267 346
Operating Profit 0 0 1 0 1 1 1 -0 -0 0 0 2 5
OPM % 2% 1% 1% 1% 2% 2% 2% -0% -2% 0% 0% 1% 2%
0 0 0 1 0 0 0 1 1 2 2 1 0
Interest 0 0 0 1 1 1 1 1 1 1 0 1 2
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 1
Profit before tax 0 0 0 0 0 0 0 0 0 1 1 2 3
Tax % 27% 27% 200% 29% 31% 29% -75% 29% -100% 32% 14% 27%
0 0 -0 0 0 0 0 0 0 1 1 1 2
EPS in Rs 4.93 4.93 -0.01 0.05 0.05 0.07 0.05 0.03 0.02 0.61 0.56 0.79 1.27
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 23%
5 Years: 37%
3 Years: 157%
TTM: 71%
Compounded Profit Growth
10 Years: 52%
5 Years: 75%
3 Years: 110%
TTM: 189%
Stock Price CAGR
10 Years: 40%
5 Years: 46%
3 Years: 10%
1 Year: 71%
Return on Equity
10 Years: 2%
5 Years: 3%
3 Years: 5%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 0 0 16 16 16 16 16 16 16 16 16 16 16
Reserves 5 7 0 0 0 1 1 1 1 2 3 4 5
2 3 4 6 4 6 5 7 7 7 5 16 32
13 9 6 2 10 2 17 11 3 7 9 13 10
Total Liabilities 20 19 26 24 31 24 39 35 27 32 34 49 64
2 2 2 3 2 2 2 2 2 1 3 3 3
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 4 6 0 0 0 5
18 17 24 22 29 21 36 29 20 31 31 46 56
Total Assets 20 19 26 24 31 24 39 35 27 32 34 49 64

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-1 -2 -2 -8 2 -0 8 7 -4 -5 5 -15
-0 1 1 7 0 -1 -6 -8 5 10 -6 7
1 1 1 1 -2 1 -2 2 -1 -1 -2 10
Net Cash Flow 0 0 0 -0 0 0 0 0 -0 4 -3 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 124 133 100 81 139 192 102 72 146 91 40 50
Inventory Days 73 51 43 32 100 6 86 63 1 1
Days Payable 156 101 56 14 88 4 109 88 18 16
Cash Conversion Cycle 41 83 87 99 151 194 79 47 146 91 22 34
Working Capital Days 43 84 101 170 165 207 87 55 185 122 46 40
ROCE % 8% 4% 3% 4% 4% 3% 3% 3% 2% 10% 4% 8%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
44.79% 44.79% 44.79% 44.79% 44.79% 44.79% 44.79% 44.79% 44.79% 44.79% 44.79% 44.79%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03%
3.31% 3.26% 1.83% 1.83% 1.83% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
51.90% 51.95% 53.38% 53.38% 53.38% 55.22% 55.21% 55.22% 55.21% 55.20% 55.20% 55.18%
No. of Shareholders 4915205485715745927147541,4121,8733,6504,144

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

Credit ratings

Concalls

  • Feb 2024
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  • Nov 2023
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  • Jun 2023
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