Race Eco Chain Limited
Race Eco Chain Limited operates in Waste Management, part of the Utilities sector. It booked ₹191 cr of revenue in its latest quarter (Q1 FY27) and kept 0.6% of sales as profit. It is the 5th largest of 5 Waste Management companies we track, by market value.
| Segment | FY25 | FY26 | Share |
|---|---|---|---|
| Recycle Division | 527 | 601 | 95% → 97% |
| Biomass Division | 19 | 8 | 3% → 1% |
| Restore Division | 9 | 10 | 2% → 2% |
| Total | 555 | 619 |
From the company's consolidated segment filings (Ind AS 108). Margin is segment operating profit (before interest & tax) over segment revenue; reconciliation rows like inter-segment eliminations are excluded from the mix.
Healthier than 41% of companies in Utilities, on the 5 of 6 measures we could read for it. Each measure is ranked against the 7–23 companies that reported it.
Measures financial condition, not whether to buy. Learn what this score means · How this is calculated
- RSI (14)
- 47
At close. Not part of the score.
How much profit it earns on the money it employs
How much it owes, and whether earnings cover the interest
Whether reported profit actually arrives as cash
What today's price implies, against our models or its peers
How much of the promoters' stake is pledged, and how much they hold
Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.
What if I invest in RACE?
Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.
The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.
P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.
An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.
| Revenue from Operations | ₹191 cr |
| Other Income | ₹81.9 L |
| Total Income | ₹192 cr |
| Cost of Materials | ₹0 cr |
| Purchases of Stock-in-Trade | ₹190 cr |
| Inventory Change (±) | ₹-4 cr |
| Employee Benefit Expense | ₹1 cr |
| Finance Costs | ₹2 cr |
| Depreciation & Amortisation | ₹75.9 L |
| Other Expenses | ₹1 cr |
| Total Expenses | ₹191 cr |
| Exceptional Items | ₹22.1 L |
| Profit before Tax | ₹1 cr |
| Tax Expense | ₹36 L |
| Net Profit | ₹1 cr |
| Net margin on total income | 0.5% |
| Metric | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 131 cr | 182 cr | 191 cr |
| Total income | 132 cr | 183 cr | 192 cr |
| Expenses | 130 cr | 181 cr | 191 cr |
| Profit before tax | 3 cr | 2 cr | 1 cr |
| Tax | 58.7 L | 45.4 L | 36 L |
| Net profit (owners' share) | 2 cr | 2 cr | 1 cr |
| Net margin (owners' share, on revenue) | 1.3% | 1.1% | 0.6% |
| EPS (₹) | 1.13 | 1.14 | 0.60 |
| Company | Price | Market cap | P/E | ROE | Net margin | 1-yr return |
|---|---|---|---|---|---|---|
| Refex Industries Limited | ₹218 | ₹2,991 cr | 12.6 | 12.6% | 6.7% | — |
| EMS Limited | ₹289 | ₹1,606 cr | 25.9 | 5.9% | 9.8% | — |
| Antony Waste Handling Cell Limited | ₹292 | ₹827 cr | 270.0 | 0.4% | 0.3% | — |
| Concord Enviro Systems Limited | ₹237 | ₹490 cr | — | -12.3% | -20.6% | — |
| Race Eco Chain Limitedthis company | ₹104 | ₹180 cr | 43.5 | 6.0% | 0.6% | — |
A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.
Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.
Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.
The company also transacted with 12 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.
Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.