Race Eco Chain Ltd

₹ 417 -0.69%

18 Sep - close price

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 ₹ 685 Cr.
Current Price ₹ 417
High / Low ₹ 460 / 226
Stock P/E 576
Book Value ₹ 13.5
Dividend Yield 0.00 %
ROCE 11.7 %
ROE 7.43 %
Face Value ₹ 10.0

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Pros

Cons

Stock is trading at 30.8 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Company has a low return on equity of 5.57% over last 3 years.

* 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	Mar 2024	Jun 2024
	42.78	49.18	84.81	92.32	110.74	78.88	69.40	79.47	86.17
	42.46	48.84	84.22	91.48	108.81	77.61	68.10	78.44	84.75
Operating Profit	0.32	0.34	0.59	0.84	1.93	1.27	1.30	1.03	1.42
OPM %	0.75%	0.69%	0.70%	0.91%	1.74%	1.61%	1.87%	1.30%	1.65%
	0.21	0.30	0.15	0.19	0.03	0.06	0.14	0.44	0.15
Interest	0.14	0.19	0.12	0.26	0.55	0.77	0.77	0.75	0.83
Depreciation	0.11	0.10	0.11	0.13	0.12	0.13	0.14	0.27	0.16
Profit before tax	0.28	0.35	0.51	0.64	1.29	0.43	0.53	0.45	0.58
Tax %	32.14%	20.00%	29.41%	31.25%	29.46%	32.56%	45.28%	46.67%	37.93%
	0.19	0.28	0.36	0.44	0.91	0.30	0.29	0.24	0.36
EPS in Rs	0.12	0.17	0.22	0.27	0.55	0.18	0.18	0.15	0.22
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	34	40	42	42	35	55	50	16	59	157	269	338	314
	34	39	42	41	34	54	50	16	59	157	267	333	309
Operating Profit	0	1	0	1	1	1	-0	-0	0	0	2	6	5
OPM %	1%	1%	1%	2%	2%	2%	-0%	-2%	0%	0%	1%	2%	2%
	0	0	1	0	0	0	1	1	2	2	1	1	1
Interest	0	0	1	1	1	1	1	1	1	0	1	3	3
Depreciation	0	0	0	0	0	0	0	0	0	0	0	1	1
Profit before tax	0	0	0	0	0	0	0	0	1	1	2	3	2
Tax %	27%	200%	29%	31%	29%	-75%	29%	-100%	32%	14%	27%	42%
	0	-0	0	0	0	0	0	0	1	1	1	2	1
EPS in Rs	4.93	-0.01	0.05	0.05	0.07	0.05	0.03	0.02	0.61	0.56	0.79	0.96	0.73
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	24%
5 Years:	46%
3 Years:	79%
TTM:	-7%

Compounded Profit Growth
10 Years:	55%
5 Years:	100%
3 Years:	11%
TTM:	-40%

Stock Price CAGR
10 Years:	44%
5 Years:	63%
3 Years:	25%
1 Year:	56%

Return on Equity
10 Years:	3%
5 Years:	5%
3 Years:	6%
Last Year:	7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	0	16	16	16	16	16	16	16	16	16	16	16
Reserves	7	0	0	0	1	1	1	1	2	3	4	6
	3	4	6	4	6	5	7	7	7	5	16	37
	9	6	2	10	2	17	11	3	7	9	13	14
Total Liabilities	19	26	24	31	24	39	35	27	32	34	49	73
	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
Investments	0	0	0	0	0	0	4	6	0	0	0	5
	17	24	22	29	21	36	29	20	31	31	46	65
Total Assets	19	26	24	31	24	39	35	27	32	34	49	73

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-2	-2	-8	2	-0	8	7	-4	-5	5	-15	-10
	1	1	7	0	-1	-6	-8	5	10	-6	7	-11
	1	1	1	-2	1	-2	2	-1	-1	-2	10	18
Net Cash Flow	0	0	-0	0	0	0	0	-0	4	-3	2	-3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	133	100	81	139	192	102	72	146	91	40	50	57
Inventory Days	51	43	32	100	6	86	63			1	1	1
Days Payable	101	56	14	88	4	109	88			18	16	14
Cash Conversion Cycle	83	87	99	151	194	79	47	146	91	22	34	44
Working Capital Days	84	101	170	165	207	87	55	185	122	46	40	55
ROCE %	4%	3%	4%	4%	3%	3%	3%	2%	10%	4%	8%	12%

Shareholding Pattern

Numbers in percentages

4 Recently

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 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%	0.03%	0.17%
	3.26%	1.83%	1.83%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	51.95%	53.38%	53.38%	53.38%	55.22%	55.21%	55.22%	55.21%	55.20%	55.20%	55.18%	55.04%
No. of Shareholders	520	548	571	574	592	714	754	1,412	1,873	3,650	4,144	4,247

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	42.85%	28.85%	44.85%	44.85%	44.79%	44.79%	44.79%	44.79%	44.79%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.17%
	5.36%	7.79%	0.00%	0.00%	3.31%	1.83%	0.00%	0.00%	0.00%
	51.80%	63.36%	55.15%	55.15%	51.90%	53.38%	55.22%	55.18%	55.04%
No. of Shareholders	281	236	236	302	432	571	754	4,144	4,247

* 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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Race Eco Chain Ltd

Race Eco Chain Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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