Race Eco Chain Ltd

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

Race Eco Chain Ltd

₹ 114 -0.64%
03 Jun 12:32 p.m.
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 - BE
  • Market Cap ₹ 196 Cr.
  • Current Price ₹ 114
  • High / Low ₹ 276 / 84.1
  • Stock P/E 29.0
  • Book Value ₹ 43.0
  • Dividend Yield 0.00 %
  • ROCE 11.0 %
  • ROE 9.28 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 2.69 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 8.66% over last 3 years.
  • Earnings include an other income of Rs.4.97 Cr.

* 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

Utilities Utilities Other Utilities Waste Management

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
92.32 110.74 78.88 72.68 85.17 86.44 106.29 168.42 193.95 156.73 148.43 131.12 182.48
91.48 108.81 77.71 71.20 84.13 85.04 104.44 165.39 190.54 153.82 144.76 127.77 178.20
Operating Profit 0.84 1.93 1.17 1.48 1.04 1.40 1.85 3.03 3.41 2.91 3.67 3.35 4.28
OPM % 0.91% 1.74% 1.48% 2.04% 1.22% 1.62% 1.74% 1.80% 1.76% 1.86% 2.47% 2.55% 2.35%
0.19 0.03 0.06 0.15 0.61 0.15 0.10 0.28 0.44 0.35 1.70 1.77 1.15
Interest 0.26 0.55 0.77 0.77 0.84 0.93 1.01 0.75 1.55 1.65 1.98 2.06 2.51
Depreciation 0.13 0.12 0.13 0.14 0.41 0.30 0.17 0.18 0.22 0.25 0.52 0.51 0.51
Profit before tax 0.64 1.29 0.33 0.72 0.40 0.32 0.77 2.38 2.08 1.36 2.87 2.55 2.41
Tax % 31.25% 29.46% 33.33% 18.06% 70.00% 68.75% 5.19% 25.63% 23.56% 69.12% -3.14% 23.14% 18.67%
0.44 0.91 0.22 0.59 0.11 0.11 0.73 1.77 1.59 0.42 2.97 1.95 1.96
EPS in Rs 0.27 0.55 0.13 0.36 0.07 0.07 0.42 0.92 0.86 0.20 1.62 1.02 1.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026
269 347 555 619
267 342 545 605
Operating Profit 2 6 10 14
OPM % 1% 2% 2% 2%
1 1 1 5
Interest 1 3 4 8
Depreciation 0 1 1 2
Profit before tax 2 3 6 9
Tax % 27% 43% 24% 21%
1 2 4 7
EPS in Rs 0.79 0.94 2.25 3.92
Dividend Payout % 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 32%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 73%
TTM: 74%
Stock Price CAGR
10 Years: 27%
5 Years: -12%
3 Years: -22%
1 Year: -57%
Return on Equity
10 Years: %
5 Years: %
3 Years: 9%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 16 16 17 17
Reserves 4 6 54 57
16 43 62 90
13 18 49 51
Total Liabilities 49 83 182 216
3 3 10 17
CWIP 0 8 1 5
Investments 0 1 14 12
46 71 157 182
Total Assets 49 83 182 216

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026
-15 -9 -43
7 -18 -14
10 24 61
Net Cash Flow 2 -3 5
Free Cash Flow -15 -18 -43
CFO/OP -698% -147% -428%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 50 58 79 59
Inventory Days 1 1 1 2
Days Payable 16 18 24 18
Cash Conversion Cycle 34 41 55 43
Working Capital Days 20 15 21 8
ROCE % 11% 10% 11%

Insights

In beta
Mar 2015 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Plastic Waste Aggregated
MT ・Standalone data

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Biofuel / Biomass Aggregated
MT ・Standalone data
Recycler Network
Number ・Standalone data
Suppliers Network
Number ・Standalone data
CO2 Saved (Cumulative)
Tonnes ・Standalone data
Nature of Business
Text ・Standalone data
Number of Collection Centres
Number ・Standalone data
Total Waste Aggregated (Combined)
MT ・Standalone data

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
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% 0.03% 0.17% 0.10% 0.00% 0.01% 0.00% 0.72% 0.71% 0.71%
0.00% 0.00% 0.00% 0.00% 0.00% 0.58% 0.58% 0.58% 0.58% 0.58% 0.58% 0.58%
55.21% 55.20% 55.20% 55.18% 55.04% 54.51% 54.63% 54.61% 54.63% 53.89% 53.92% 53.93%
No. of Shareholders 1,4121,8733,6504,1444,2476,2466,6516,8427,0267,0356,9636,796

* 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

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