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 ₹ 390 Cr.
- Current Price ₹ 226
- High / Low ₹ 405 / 210
- Stock P/E 94.2
- Book Value ₹ 41.5
- 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 5.45 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 | 625 | |
| 267 | 342 | 545 | 614 | |
| Operating Profit | 2 | 6 | 10 | 11 |
| OPM % | 1% | 2% | 2% | 2% |
| 1 | 1 | 1 | 1 | |
| Interest | 1 | 3 | 4 | 5 |
| Depreciation | 0 | 1 | 1 | 1 |
| Profit before tax | 2 | 3 | 6 | 7 |
| Tax % | 27% | 43% | 24% | |
| 1 | 2 | 4 | 5 | |
| EPS in Rs | 0.79 | 0.94 | 2.25 | 2.40 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 94% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 302% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 33% |
| 5 Years: | 18% |
| 3 Years: | 2% |
| 1 Year: | -44% |
| 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 | |
|---|---|---|---|
| Equity Capital | 16 | 16 | 17 |
| Reserves | 4 | 6 | 54 |
| 16 | 43 | 62 | |
| 13 | 18 | 49 | |
| Total Liabilities | 49 | 83 | 182 |
| 3 | 3 | 10 | |
| CWIP | 0 | 8 | 1 |
| Investments | 0 | 1 | 14 |
| 46 | 71 | 157 | |
| Total Assets | 49 | 83 | 182 |
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
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Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
1d - Race Ecu Chain completed sale of India Polymers Pvt Ltd shares; no longer a subsidiary.
- ESG RATING CFC Finlease Private Limited - SEBI Registered ERP - IN/ERP/Category-II/0011 26 Sep
-
Closure of Trading Window
26 Sep - Trading window closed from 1 October 2025 until 48 hours after unaudited Q2 results for September 30, 2025.
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
26 Sep - AGM on 24 Sep 2025: all five resolutions (financials, reappointment, auditors, related-party transactions, loan/guarantee limit) approved.
- Shareholder Meeting / Postal Ballot-Outcome of AGM 24 Sep
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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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.