Race Eco Chain Limited

: RACE · Other Utilities

52W Range₹84 ₹252

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Snapshot

Unlock Race Eco Chain Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Race Eco Chain Ltd specialises in the collection, aggregation, and supply of recyclable waste to industrial recyclers. The company also manufactures recycled products, including GRS-certified PET fabric, while leveraging AI and blockchain technology to ensure traceability within the circular economy.

Business Model

The company operates an integrated model that manages the waste lifecycle from collection and auditing to the production of recycled goods. Revenue is generated through the supply of raw recyclable materials and the sale of value-added recycled products.

Management Commentary

Management focuses on building a 'circle of trust' by utilising technology to formalise the waste management sector and enhance transparency for buyers and sellers.

Growth Outlook

Growth is driven by the increasing demand for sustainable and traceable recycled materials across global supply chains. The company aims to scale its AI-powered platform to improve operational efficiency and expand its footprint in the circular economy.

Key Risks

  • Supply Chain Volatility. The company is susceptible to fluctuations in the availability and quality of waste materials, which can impact production consistency.
  • Regulatory Compliance. Changes in environmental regulations and waste management policies in India could necessitate significant operational adjustments.
  • Technological Dependency. Reliance on AI and blockchain platforms introduces risks related to system failures, cybersecurity threats, or integration challenges.
  • Market Competition. The recycling sector is becoming increasingly crowded, potentially putting pressure on margins as more players enter the circular economy space.

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Key Metrics

REVENUE

₹619 Cr

TTM · consolidated

+11.5%YoY

NET PROFIT

₹7 Cr

TTM · consolidated

-1.9%YoY

EPS

₹5.12

TTM · consolidated

+17.7%YoY

RETURN ON EQUITY

10.1%

TTM · consolidated

-11.4 ppYoY

RETURN ON CAPITAL EMPLOYED

21.5%

TTM · consolidated

-13.4 ppYoY

P/E

21.1x

Q4 FY26 · consolidated

21.1 vs 69.1x5Y avg

EV/EBITDA

15.6x

Q4 FY26 · consolidated

15.6 vs 20.3x5Y avg

EBITDA MARGIN

2.6%

TTM · consolidated

-0.1 ppYoY

NET PROFIT MARGIN

1.1%

Q4 FY26 · consolidated

+0.3 ppYoY

DEBT TO EQUITY

1.2x

Q4 FY26 · consolidated

+0.35xYoY

Peers · Other Utilities

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Race Eco Chain LimitedRACE
₹174 Cr19.6415.6511.5%2.6%10.1%21.5%-57.2%
Antony Waste Handling Cell LimitedAWHCL
₹1,099 Cr18.816.4511.8%20.6%9.9%10.2%-32.3%
Eco Recycling LimitedECORECO
₹902 Cr38.8726.749.6%69.2%23.0%29.4%-20.7%
JITF Infralogistics LimitedJITFINFRA
₹818 Cr-16.997.5514.1%21.5%1.9%14.5%+24.9%
Denta Water and Infra Solutions LimitedDENTA
₹758 Cr14.1610.0530.6%12.3%16.9%-28.8%
Concord Enviro Systems LimitedCEWATER
₹554 Cr-77.5417.82-9.0%6.8%-1.3%3.1%-50.7%

As of Q4 FY26

Financials