Race Eco Chain Ltd
RACE NSE
Race Eco Chain Ltd
UtilitiesNSE: RACE BSE: 537785 Waste Management
Key Fundamentals
MicrocapWaste ManagementUtilitiesMarket Cap
₹178 Cr
Volatility
Moderate
P/E Ratio
23.17
EBITDA
₹14.20 Cr
Return on Equity
5.38%
Debt to Equity
1.22
Book Value
₹42.95
52W High
₹252
52W Low
₹84.11
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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44 extracted metrics + investor summaries across FY21–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Weaknesses
3- 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.5.66 Cr.
Growth Rate
Revenue Growth
11.29% ↗
Net Income Growth
78.81% ↗
Cash Flow Change
-399.88% ↘
ROE
-22.70% ↗
ROCE
-38.99% ↘
EBITDA Margin (Avg.)
19.37% ↗
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 111 | 78.88 | 72.68 | 85.17 | 86.44 | 106 | 168 | 194 | 157 | 148 | 131 | 182 | 191 |
| Expenses | 109 | 77.71 | 71.2 | 84.13 | 85.04 | 104 | 165 | 191 | 154 | 145 | 128 | 178 | 187 |
| Operating Profit | 1.93 | 1.17 | 1.48 | 1.04 | 1.4 | 1.85 | 3.03 | 3.41 | 2.91 | 3.67 | 3.35 | 4.28 | 3.58 |
| OPM % | 1.74% | 1.48% | 2.04% | 1.22% | 1.62% | 1.74% | 1.8% | 1.76% | 1.86% | 2.47% | 2.55% | 2.35% | 1.87% |
| Other Income | 0.03 | 0.06 | 0.15 | 0.61 | 0.15 | 0.1 | 0.28 | 0.44 | 0.35 | 1.7 | 1.77 | 1.15 | 1.04 |
| Interest | 0.55 | 0.77 | 0.77 | 0.84 | 0.93 | 1.01 | 0.75 | 1.55 | 1.65 | 1.98 | 2.06 | 2.51 | 2.47 |
| Depreciation | 0.12 | 0.13 | 0.14 | 0.41 | 0.3 | 0.17 | 0.18 | 0.22 | 0.25 | 0.52 | 0.51 | 0.51 | 0.76 |
| PBT | 1.29 | 0.33 | 0.72 | 0.4 | 0.32 | 0.77 | 2.38 | 2.08 | 1.36 | 2.87 | 2.55 | 2.41 | 1.39 |
| Tax % | 29.46% | 33.33% | 18.06% | 70% | 68.75% | 5.19% | 25.63% | 23.56% | 69.12% | -3.14% | 23.14% | 18.67% | 25.9% |
| Net Profit | 0.91 | 0.22 | 0.59 | 0.11 | 0.11 | 0.73 | 1.77 | 1.59 | 0.42 | 2.97 | 1.95 | 1.96 | 1.03 |
| EPS in Rs | 0.55 | 0.13 | 0.36 | 0.07 | 0.07 | 0.42 | 0.92 | 0.86 | 0.2 | 1.62 | 1.02 | 1.08 | 0.64 |
Profit & Loss
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales | 269 | 347 | 555 | 619 | 653 |
| Expenses | 267 | 342 | 545 | 605 | 638 |
| Operating Profit | 2 | 6 | 10 | 14 | 15 |
| OPM % | 0.8% | 1.7% | 1.8% | 2.3% | 2.3% |
| Other Income | 1 | 1 | 1 | 5 | 6 |
| Interest | 1 | 3 | 4 | 8 | 9 |
| Depreciation | 0 | 1 | 1 | 2 | 2 |
| PBT | 2 | 3 | 6 | 9 | 9 |
| Tax % | 27% | 43% | 24% | 21% | — |
| Net Profit | 1 | 2 | 4 | 7 | 8 |
| EPS in Rs | 0.79 | 0.94 | 2.25 | 3.92 | 4.36 |
| Div. Payout % | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 16 | 16 | 17 | 17 |
| Reserves | 4 | 6 | 54 | 57 |
| Borrowings | 16 | 43 | 62 | 90 |
| Other Liabilities | 13 | 18 | 49 | 51 |
| Total Liabilities | 49 | 83 | 182 | 216 |
| Fixed Assets | 3 | 3 | 10 | 17 |
| CWIP | 0 | 8 | 1 | 5 |
| Investments | 0 | 1 | 14 | 12 |
| Other Assets | 46 | 71 | 157 | 182 |
| Total Assets | 49 | 83 | 182 | 216 |
Cash Flow
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Operating | -15 | -9 | -43 | 19 |
| Investing | 7 | -18 | -14 | -29 |
| Financing | 10 | 24 | 61 | 20 |
| Net Cash Flow | 2 | -3 | 5 | 10 |
| Free Cash Flow | -15 | -18 | -43 | 6 |
| CFO/OP | -698 | -147 | -428 | 145 |
Ratios
| 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% |
Documents
1
Announcement under Regulation 30 (LODR)-Acquisition
2 May - Race Eco Chain invested Rs 1.02 crore in subsidiary Ganesha Recycling Chain, allotted 1,02,000 shares on 02 May 2025. 2 May - Race Eco Chain invested Rs 1.02 crore in subsidiary Ganesha Recycling Chain, allotted 1,02,000 shares on 02 May 2025.
2
Announcement under Regulation 30 (LODR)-Acquisition
2 May - Race Eco Chain invested Rs 1.02 crore in subsidiary Ganesha Recycling Chain, allotted 1,02,000 shares on 02 May 2025. 2 May - Race Eco Chain invested Rs 1.02 crore in subsidiary Ganesha Recycling Chain, allotted 1,02,000 shares on 02 May 2025.
3
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Pls find enclosed Certificate under Reg 74(5) of SEBI (DP) Regulation, 2018 7 Apr - Pls find enclosed Certificate under Reg 74(5) of SEBI (DP) Regulation, 2018
4
Board Meeting Outcome for Intimation For The Forfeiture Of The Convertible Warrants
1 Apr - 19,55,000 warrants forfeited; Rs.17,20,40,000 subscription forfeited after non-conversion by March 31, 2026. 1 Apr - 19,55,000 warrants forfeited; Rs.17,20,40,000 subscription forfeited after non-conversion by March 31, 2026.
5
Forfeiture Of The Convertible Warrants
1 Apr - Forfeited Rs17.20 crore subscription for 1,955,000 warrants (Rs352 each); conversion deadline March 31, 2026. 1 Apr - Forfeited Rs17.20 crore subscription for 1,955,000 warrants (Rs352 each); conversion deadline March 31, 2026.
Frequently Asked Questions about Race Eco Chain Ltd
What does Race Eco Chain Ltd do?
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]
Where is Race Eco Chain Ltd (RACE) listed?
Race Eco Chain Ltd is listed on the Indian stock exchanges. It is listed on NSE: RACE and BSE: 537785. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Race Eco Chain Ltd belong to?
Race Eco Chain Ltd operates in the Utilities sector within the Waste Management industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Race Eco Chain Ltd?
Race Eco Chain Ltd has a market capitalisation of approximately ₹178.35 Cr. Based on this, it is classified as a Small Cap stock.
What is the PE ratio of Race Eco Chain Ltd?
The Price-to-Earnings (PE) ratio of Race Eco Chain Ltd is 23.17. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Race Eco Chain Ltd?
Over the past 52 weeks, Race Eco Chain Ltd has traded between a low of ₹84.11 and a high of ₹252. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Race Eco Chain Ltd?
Race Eco Chain Ltd has a Return on Equity (ROE) of 5.38%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Race Eco Chain Ltd on Tapetide?
On Tapetide, you can view Race Eco Chain Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
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]
Website raceecochain.com
CEO Mr. Sunil Kumar Malik
Employees 61
Listed 2023-05-09
Face Value ₹ 10
Issued Size 1,72,57,200