Race Eco Chain Ltd
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]
- Market Cap ₹ 304 Cr.
- Current Price ₹ 177
- High / Low ₹ 398 / 171
- Stock P/E 49.0
- Book Value ₹ 42.2
- Dividend Yield 0.00 %
- ROCE 9.64 %
- ROE 8.30 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
Cons
- Stock is trading at 4.20 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 62.0 to 78.5 days.
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|
| 269 | 347 | 555 | 668 | |
| 267 | 342 | 545 | 655 | |
| Operating Profit | 2 | 6 | 10 | 13 |
| OPM % | 1% | 2% | 2% | 2% |
| 1 | 1 | 1 | 3 | |
| Interest | 1 | 3 | 4 | 6 |
| Depreciation | 0 | 1 | 1 | 1 |
| Profit before tax | 2 | 3 | 6 | 9 |
| Tax % | 27% | 43% | 24% | |
| 1 | 2 | 4 | 7 | |
| EPS in Rs | 0.79 | 0.94 | 2.25 | 3.60 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 90% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 303% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 31% |
| 5 Years: | 3% |
| 3 Years: | -5% |
| 1 Year: | -52% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 16 | 16 | 17 | 17 |
| Reserves | 4 | 6 | 54 | 56 |
| 16 | 43 | 62 | 71 | |
| 13 | 18 | 49 | 58 | |
| Total Liabilities | 49 | 83 | 182 | 202 |
| 3 | 3 | 10 | 13 | |
| CWIP | 0 | 8 | 1 | 3 |
| Investments | 0 | 1 | 14 | 13 |
| 46 | 71 | 157 | 173 | |
| Total Assets | 49 | 83 | 182 | 202 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| -15 | -9 | -43 | |
| 7 | -18 | -14 | |
| 10 | 24 | 61 | |
| Net Cash Flow | 2 | -3 | 5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 50 | 58 | 79 |
| Inventory Days | 1 | 1 | 1 |
| Days Payable | 16 | 18 | 24 |
| Cash Conversion Cycle | 34 | 41 | 55 |
| Working Capital Days | 20 | 15 | 21 |
| ROCE % | 11% | 10% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Nov - Newspaper Publication of Financial Results for the Quarter and Half Year ended 30th September, 2025.
-
Financial Results For The Quarter And Half Year Ended 30Th September, 2025.
12 Nov - Board approved unaudited standalone and consolidated Q2/H1 results for September 30, 2025; limited review.
-
Board Meeting Outcome for Outcome Of Board Meeting
12 Nov - Board approved unaudited Q2/H1 results (30 Sep 2025); disinvested 65% India Polymers; invested Rs5.10 crore in subsidiary;
-
Board Meeting Intimation for The Meeting Of The Directors Of The Company Is Scheduled On 12/11/2025 Inter Alia, To Consider And Approve The Standalone And Consolidated Un-Audited Financial Results For The Quarter And Half Year Ended On 30Th September, 2025
6 Nov - Board meeting 12 Nov 2025 to approve unaudited Q2/H1 results ended 30 Sep 2025.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
15 Oct - Pls find enclosed certificate under Reg 74(5) of SEBI (DP) Regulations.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
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.