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 ₹ 223 Cr.
- Current Price ₹ 132
- High / Low ₹ 364 / 131
- Stock P/E 36.0
- 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 3.13 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: | 27% |
| 5 Years: | -8% |
| 3 Years: | -12% |
| 1 Year: | -62% |
| 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
- Closure of Trading Window 29 Dec
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Board Meeting Outcome for Outcome Of The Board Meeting Held On 15Th December, 2025
15 Dec - 15 Dec 2025: Board approved demerger; GEOECO 113:100, GATEWAY 27:25; director redesignation; corporate office shift.
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Announcement under Regulation 30 (LODR)-Change in Directorate
15 Dec - Board approved demerger; GEOECO 113:100, GATEWAY 27:25 share swap; director redesignation; corporate office shifted; 15 Dec 2025
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Announcement under Regulation 30 (LODR)-Resignation of Director
13 Dec - Anil Kumar Behl resigned as Independent Director effective 13-Dec-2025; will remain Non‑Executive Director.
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Closure of Trading Window
8 Dec 2025 - Race Eco Chain board meeting 15 Dec 2025 to consider Scheme of Arrangement; trading window closed 9–17 Dec 2025.
Annual reports
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Financial Year 2025
from bse
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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
from bse
Concalls
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Nov 2025TranscriptAI SummaryPPT
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Jun 2025TranscriptAI SummaryPPT
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Feb 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Jun 2024TranscriptAI SummaryPPT
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Feb 2024TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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Jun 2023TranscriptAI SummaryPPT
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.