RACE Eco Chain

Noida, India Founded: 1999 • Age: 27 yrs Listed
An online platform for trading recycled plastics is provided.

About RACE Eco Chain

RACE Eco Chain is a publicly listed company based in Noida (India) founded in 1999. An online platform for trading recycled plastics is provided. It operates on a AI-as-a-Service, Circular Economy, and Professional Services model in Environment and Industrial Goods & Manufacturing sectors. The company has 3 employees. Its chief executive, as recorded, is Ravi Madan. Its Indian entity Race Eco Chain Limited reported revenue of β‚Ή624 Cr. RACE Eco Chain offers products and services including Waste Management, Biomass Briquettes, and Recycled Products. Its focus areas include Environmental Services, Waste Management, Plastic Recycling and Energy. Its competitors include ReCircle and GERL; 1 of its 2 listed competitors has raised funding.

Company details

RACE Eco Chain is focused on plastic waste management and recycling in India. The company is involved in organizing the unorganized waste industry with a vast supplier network. Solutions are provided for waste collection, biomass briquettes, and recycled products. Operations are supported by AI and blockchain technology for traceability. Sectors served include environmental sustainability and green energy. Commitment is shown towards reducing carbon footprints and achieving ESG goals. Services are extended to brands, recyclers, and waste suppliers across India.

  • Headquarters Noida, India
  • Employees 3
  • Stage Public
  • Sectors
    Environment
    Industrial Goods & Manufacturing
  • Email
    β€’β€’β€’β€’β€’β€’β€’β€’
  • Phone
    β€’β€’β€’β€’ β€’β€’β€’β€’
  • Website raceecochain.com
  • Social LinkedIn X Facebook Instagram YouTube
  • Legal Name Race Eco Chain Ltd.
Key Metrics
  • Market Cap
    ₹184 Cr

    RACE · NSE

  • Share Price
    ₹104.84

    -1.78% today

  • Revenue
    ₹619 Cr

    FY 2025-26 · +11.5% YoY

  • EBITDA
    ₹14.20 Cr

    Margin 2.3%

  • Net Profit
    ₹6.75 Cr

    FY 2025-26 · +72.6% YoY

  • P/E (TTM)
    24.0x

    P/B 3.2x

  • Investors
  • Employee Count
    3

Products & Services of RACE Eco Chain

RACE Eco Chain offers a comprehensive portfolio of products and services, including Waste Management, Biomass Briquettes, and Recycled Products.

Waste Management
Environmental Services

Waste management services are provided for plastic recycling.

Biomass Briquettes
Green Energy

Biomass briquettes are manufactured for sustainable energy solutions.

Recycled Products
Sustainable Products

Recycled products are created from high-quality plastic waste.

Apps and channels of RACE Eco Chain

RACE Eco Chain publishes 2 mobile apps with over 100 downloads; its YouTube channel Race EcoChain Ltd has 186 subscribers and 25 videos.

Race Eco Chain
Google Play Business Everyone Free
Developer: Race Ecochain Ltd
View on Google Play
Race Buyer & Seller
App Store Business 17+
Developer: Race Eco Chain Limited
View on App Store
Race EcoChain Ltd
YouTube 186 subscribers 25 videos Howto & Style
Open channel

Videos from RACE Eco Chain

The most watched videos on RACE Eco Chain's YouTube channel, Race EcoChain Ltd (186 subscribers). Click a video to play it here.

Unleash the power of Recycling and Circular Economy with Race Eco Chain Ltd.
9.3K views
Race Eco Chain 2024 Highlights
1.7K views
How Recycled Products Are Made|| PET Bottle Recycling Process|| Detailed Recycling Process
496 views
RACE EcoChain Ltd. Listed Under National Stock Exchange (NSE)
355 views

More on Race EcoChain Ltd.

Funding Insights of RACE Eco Chain

  • Total Rounds 1
  • Investors Count 1

All 1 funding rounds of RACE Eco Chain with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Jun 2024Post-IPO––
Valuation history

1 investors in total: 1 institutional.

Investors in RACE Eco Chain

RACE Eco Chain has secured backing from 1 investor. Prominent investors backing the company include Ganesha Ecosphere.

All
InvestorDescriptionFounded YearDomainLocation
Plastic waste is recycled through services offered by Ganesha Ecosphere.
1987ganeshaecosphere.comKanpur, India
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Investor details for RACE Eco Chain

The complete investor list, round-by-round participation and investor portfolios require an active premium plan.

  • Complete investor list
  • Round participation
  • Investor portfolios
  • Co-investor network

Verified entity values are shown only after access is granted.

Board of directors of Race Eco Chain Limited (RACE Eco Chain)

Race Eco Chain Limited is the primary company behind RACE Eco Chain. The board of Race Eco Chain Limited currently have 6 directors; the longest-serving is Sunil Kumar Malik, appointed in 1999. 24 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Sunil Kumar Malik
DIN 00143453
Managing Director22 Nov 199926 yrs 11 moRace Eco Chain Limited
Pranav Vasan
DIN 07631095
Director12 Apr 20197 yrs 6 moRace Eco Chain Limited
Sanjay Kukreja
DIN 08506956
Director20 Jul 20197 yrs 3 moRace Eco Chain Limited
Anil Kumar Behl
DIN 00697588
Director31 Aug 20224 yrs 2 moRace Eco Chain Limited
Lalit Kumar Malik
DIN 08693650
Director02 Jan 20233 yrs 10 moRace Eco Chain Limited
Seema Malik
DIN 09498208
Director30 Jun 20233 yrs 4 moRace Eco Chain Limited

People of RACE Eco Chain

2 people are tracked at RACE Eco Chain (2 in leadership); the tracked headcount is 3.

NameRoleGroup
Managing DirectorLeadership
Ravi Madan
CEOLeadership
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Complete people profiles for RACE Eco Chain

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  • Board tenure
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IPO & Listings of RACE Eco Chain

RACE Eco Chain is a publicly listed company on the NSE with ticker symbol RACE in India, operating in the Process industries sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date09 May 2023
  • Listed onNSE: RACE
  • Listed entityRace Eco Chain Ltd.
  • Exchange sectorProcess industries
  • ISININE084Q01012
  • Share price₹107.61 (+0.98% on the day) · 2026-10-14
  • Market capitalisation₹182 Cr
  • Price to earnings24.7
  • EPS (diluted, trailing year)₹4.36
  • Volume (last session)10,457

Financials of RACE Eco Chain

Exchange-reported figures of Race Eco Chain Limited, the listed company behind RACE Eco Chain (NSE: RACE).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹619 Cr
+11.5% YoY
EBITDA
₹14.20 Cr
+45.3% YoY
Profit After Tax
₹6.75 Cr
+72.6% YoY
Net Worth
₹74.13 Cr
+3.6% YoY
Total Assets
₹177 Cr
+26.6% YoY
Total Debt
₹90.04 Cr
+46.1% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Income statement
Revenue619555347269
Revenue growth+11.5%+59.8%+29.1%-
EBITDA14.209.775.782.08
EBITDA margin+2.3%+1.8%+1.7%+0.8%
Profit before tax9.175.562.741.78
Net profit6.753.911.581.30
Net profit margin+1.1%+0.7%+0.5%+0.5%
EPS (β‚Ή)4.232.260.940.79
Balance sheet
Total assets17714064.8536.23
Net worth74.1371.5722.2120.57
Total debt90.0461.6142.5215.51
Cash & bank15.595.270.443.10
Net working capital11798.3952.2632.96
Cash flow
Cash from operations18.87(42.86)(8.53)-
Cash from investing(28.79)(13.40)(18.21)-
Cash from financing20.2461.1024.07-
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue191182131148157194168106
Revenue growth (YoY)+21.9%-5.9%-22.2%+39.7%+81.3%---
Other income1.041.151.771.700.350.440.280.10
EBITDA3.584.283.343.672.913.413.041.86
EBITDA margin+1.9%+2.3%+2.5%+2.5%+1.9%+1.8%+1.8%+1.7%
Depreciation0.760.510.510.520.250.220.180.17
Interest2.472.512.061.981.651.550.751.01
Profit before tax1.392.412.542.871.362.082.390.78
Tax0.360.450.59(0.09)0.940.490.610.04
Net profit1.031.961.952.960.421.591.780.74
EPS (β‚Ή)0.601.141.101.671.130.891.002.34
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue38246033826915758.7215.83
Revenue growth-17.1%+36.0%+25.8%+71.2%+167.7%+270.9%-
EBITDA9.928.445.532.080.19(0.16)(0.35)
EBITDA margin+2.6%+1.8%+1.6%+0.8%+0.1%-0.3%-2.2%
Profit before tax3.544.762.701.781.061.470.03
Net profit2.273.751.591.290.441.14(0.17)
Net profit margin+0.6%+0.8%+0.5%+0.5%+0.3%+1.9%-1.1%
EPS (β‚Ή)1.332.180.950.790.560.610.02
Balance sheet
Total assets15213059.1736.2324.4625.0624.18
Net worth69.2771.2022.2320.5719.2618.1117.12
Total debt82.3158.5636.8415.515.096.676.78
Cash & bank8.174.340.403.101.104.130.18
Net working capital10691.5450.9432.9620.9623.768.24
Cash flow
Cash from operations14.05(28.32)(10.09)(14.59)4.86(5.10)(3.99)
Cash from investing(26.37)(31.66)(11.11)6.65(5.77)9.764.73
Cash from financing16.1563.9118.519.94(1.99)(0.71)(0.87)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue93.1810878.6596.1198.81139129106
Revenue growth (YoY)-5.7%-22.2%-38.9%-9.6%+14.7%---
Other income1.040.810.630.550.430.530.340.10
Total expenses90.8910576.3593.5996.85136126104
EBITDA2.293.062.302.521.962.692.411.86
EBITDA margin+2.5%+2.8%+2.9%+2.6%+2.0%+1.9%+1.9%+1.7%
Depreciation0.430.300.340.300.160.180.170.17
Interest2.112.261.921.871.551.480.731.00
Profit before tax0.791.310.670.900.681.561.850.79
Tax0.170.500.44(0.26)0.590.290.460.04

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 08 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue191182131148157194168106
Revenue growth (YoY)+21.9%-5.9%-22.2%+39.7%+81.3%---
Other income1.041.151.771.700.350.440.280.10
EBITDA3.584.283.343.672.913.413.041.86
EBITDA margin+1.9%+2.3%+2.5%+2.5%+1.9%+1.8%+1.8%+1.7%
Depreciation0.760.510.510.520.250.220.180.17
Interest2.472.512.061.981.651.550.751.01
Profit before tax1.392.412.542.871.362.082.390.78
Tax0.360.450.59(0.09)0.940.490.610.04
Net profit1.031.961.952.960.421.591.780.74
EPS (β‚Ή)0.601.141.101.671.130.891.002.34
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Revenue619555347269
Revenue growth+11.5%+59.8%+29.1%-
Other income4.970.960.700.85
Total expenses605545342267
Employee cost0.002.721.962.20
EBITDA14.209.775.782.08
EBITDA margin+2.3%+1.8%+1.7%+0.8%
Depreciation1.800.870.800.44
Interest8.204.302.940.71
Profit before tax9.175.562.741.78
Tax1.891.351.180.48
Net profit6.753.911.581.30
Net profit margin+1.1%+0.7%+0.5%+0.5%
EPS (β‚Ή)4.232.260.940.79
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Equity & liabilities
Share capital17.2617.2616.4316.43
Reserves & surplus39.6737.115.784.14
Shareholders' funds (net worth)74.1371.5722.2120.57
Minority interest12.386.360.030.00
Secured loans83.9454.8413.117.22
Unsecured loans6.106.7729.418.29
Total debt90.0461.6142.5215.51
Total liabilities17714064.8536.23
Assets
Gross block22.0914.115.365.21
Net block16.6010.422.792.91
Capital work in progress5.080.528.050.00
Investments12.0914.331.410.00
Inventories2.801.240.960.62
Sundry debtors99.9311955.1136.65
Cash & bank balances15.595.270.443.10
Loans & advances37.5315.1113.845.54
Total current assets15614170.3545.91
Total current liabilities38.6242.6418.0912.95
Net working capital11798.3952.2632.96
Total assets17714064.8536.23
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Opening cash5.270.443.10-
Net cash from operating activities18.87(42.86)(8.53)-
Net cash from investing activities(28.79)(13.40)(18.21)-
Net cash from financing activities20.2461.1024.07-
Net change in cash10.324.83(2.66)-
Closing cash15.595.270.44-
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Growth
Sales growth+11.5%+59.8%+29.1%-
EBITDA growth+45.3%+69.0%+177.9%-
PBT growth+64.9%+102.9%+53.9%+9997.0%
Net income growth+72.6%+147.5%+21.5%-
Revenue CAGR (3Y)+32.0%---
EBITDA CAGR (3Y)+89.7%---
Profitability & leverage
Net income margin+1.2%+0.8%+0.5%+0.5%
Return on capital employed-+9.9%+11.2%-
Return on net worth-+8.9%+7.3%-
Debt / equity-1.111.36-
Long-term debt / equity-0.060.13-
Interest cover66.1348.3159.0443.29
Efficiency & per share
Fixed asset turnover-58.1965.75-
Inventory turnover-504.64439.85-
Debtors turnover-6.367.57-
EPS (β‚Ή)4.232.260.940.79
Dividend per share (β‚Ή)0.000.000.000.00
Book value per share (β‚Ή)0.0031.5113.5212.52
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue93.1810878.6596.1198.81139129106
Revenue growth (YoY)-5.7%-22.2%-38.9%-9.6%+14.7%---
Other income1.040.810.630.550.430.530.340.10
Total expenses90.8910576.3593.5996.85136126104
EBITDA2.293.062.302.521.962.692.411.86
EBITDA margin+2.5%+2.8%+2.9%+2.6%+2.0%+1.9%+1.9%+1.7%
Depreciation0.430.300.340.300.160.180.170.17
Interest2.112.261.921.871.551.480.731.00
Profit before tax0.791.310.670.900.681.561.850.79
Tax0.170.500.44(0.26)0.590.290.460.04
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue38246033826915758.7215.83
Revenue growth-17.1%+36.0%+25.8%+71.2%+167.7%+270.9%-
Other income2.421.110.670.851.622.501.41
Total expenses37245233326715758.8816.18
Employee cost2.472.411.962.201.631.000.71
EBITDA9.928.445.532.080.19(0.16)(0.35)
EBITDA margin+2.6%+1.8%+1.6%+0.8%+0.1%-0.3%-2.2%
Depreciation1.100.680.660.440.330.230.30
Interest7.704.112.840.710.420.640.73
Profit before tax3.544.762.701.781.061.470.03
Tax1.271.011.130.490.150.48(0.02)
Net profit2.273.751.591.290.441.14(0.17)
Net profit margin+0.6%+0.8%+0.5%+0.5%+0.3%+1.9%-1.1%
EPS (β‚Ή)1.332.180.950.790.560.610.02
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital17.2617.2616.4316.4316.4316.4316.43
Reserves & surplus34.8136.745.804.142.831.680.69
Shareholders' funds (net worth)69.2771.2022.2320.5719.2618.1117.12
Secured loans82.2154.8413.1110.574.183.836.71
Unsecured loans0.103.7223.734.940.912.840.07
Total debt82.3158.5636.8415.515.096.676.78
Total liabilities15213059.1736.2324.4625.0624.18
Assets
Gross block10.916.195.065.214.502.603.87
Net block6.202.582.792.912.641.071.62
Capital work in progress0.170.010.000.000.000.100.00
Investments21.5221.485.200.000.000.005.56
Inventories0.001.090.830.620.294.443.79
Sundry debtors77.1795.1053.2236.6517.2114.576.31
Cash & bank balances8.174.340.403.101.104.130.18
Loans & advances41.7616.0710.565.5411.567.730.66
Total current assets12711765.0145.9130.1630.8710.94
Total current liabilities21.0925.0614.0712.959.207.112.70
Net working capital10691.5450.9432.9620.9623.768.24
Total assets15213059.1736.2324.4625.0624.18
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash4.340.403.091.104.130.180.32
Net cash from operating activities14.05(28.32)(10.09)(14.59)4.86(5.10)(3.99)
Net cash from investing activities(26.37)(31.66)(11.11)6.65(5.77)9.764.73
Net cash from financing activities16.1563.9118.519.94(1.99)(0.71)(0.87)
Net change in cash3.823.94(2.69)2.00(2.89)3.95(0.14)
Closing cash8.174.340.403.101.104.130.18
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-17.1%+36.0%+25.8%+71.2%+167.7%+270.9%-
EBITDA growth+17.5%+52.6%+165.9%+994.7%+218.8%+54.3%-
PBT growth-25.6%+76.3%+51.7%+67.9%-27.9%+4800.0%-57.1%
Net income growth-39.5%+135.9%+23.3%+193.2%-61.4%+770.6%-
Revenue CAGR (3Y)+12.4%+43.1%+79.3%+157.1%+46.3%+2.1%-23.3%
EBITDA CAGR (3Y)+68.3%+254.2%-----
Profitability & leverage
Net income margin+0.6%+0.8%+0.5%+0.5%+0.6%+1.7%+0.3%
Return on capital employed+8.0%+9.4%+11.6%+8.2%+3.7%+9.5%+2.0%
Return on net worth+3.3%+8.1%+7.3%+6.5%+2.4%+6.5%-1.1%
Debt / equity1.001.021.220.520.310.380.40
Long-term debt / equity0.000.000.000.010.010.000.00
Interest cover87.3052.9658.3243.29-300.00-164.10-112.31
Efficiency & per share
Fixed asset turnover44.6681.8365.9255.4244.2818.154.20
Inventory turnover700.59479.48466.90591.3866.4714.273.00
Debtors turnover4.436.217.539.999.895.621.95
EPS (β‚Ή)1.332.180.950.790.560.610.02
Dividend per share (β‚Ή)0.000.000.000.000.000.000.00
Book value per share (β‚Ή)30.1731.2913.5312.5211.7211.0210.42

Timeline of RACE Eco Chain

3 dated milestones of RACE Eco Chain across 25 years, from founding to its latest funding, stage changes and deals.

  1. Founded RACE Eco Chain is founded.
  2. IPO Lists on the stock exchange (IPO).
  3. Funding First funding round.

Competitors of RACE Eco Chain

RACE Eco Chain has 2 listed competitors in our database, 1 of them funded. They include ReCircle and GERL.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
recircle.in2015Mumbai, India$691,93453
Provider of waste management and recycling solutions for businesses and individuals
greenearthlabs.in2022Delhi, India
Circular polymers are developed for plastic recycling using proprietary technologies.
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Detailed competitors of RACE Eco Chain

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Web traffic of RACE Eco Chain

The website of RACE Eco Chain (raceecochain.com) receives about 8.4K visits a month.

  • Monthly visits
    8.4K

    ▲ 533.8% vs previous month

Similar websites

Websites whose visitors overlap most with RACE Eco Chain. Affinity shows how closely the audiences match.

Top companies in Waste & Water Management Systems

3 companies that operate in the same segment as RACE Eco Chain (Waste & Water Management Systems) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Provider of climate-smart deeptech solutions for renewable energy and sustainable agriculture
2010Pune, Maharashtra, IndiaUSD 76.38 MUSD 56.11 M702
Provider of smart water purifier rental and maintenance services
2016Bengaluru, Karnataka, IndiaUSD 19.29 MUSD 3.62 M
Tech-based solid waste management and recycling solutions are provided.
2008Noida, Uttar Pradesh, IndiaUSD 31.1 MUSD 52.13 M106
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Related news about Race Eco Chain

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Frequently Asked Questions about RACE Eco Chain

RACE Eco Chain was founded in 1999 and raised its 1st funding round 25 years after it was founded.

RACE Eco Chain is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.

Ravi Madan is the CEO of RACE Eco Chain, as recorded in our data.

RACE Eco Chain has 3 employees.

The primary company behind RACE Eco Chain, Race Eco Chain Limited, reported revenue of β‚Ή624 Cr for FY 2026, up 11% year on year.

RACE Eco Chain is focused on plastic waste management and recycling in India. The company is involved in organizing the unorganized waste industry with a vast supplier network. Solutions are provided for waste collection, biomass briquettes, and recycled products. Operations are supported by AI and blockchain technology for traceability. Sectors served include environmental sustainability and green energy. Commitment is shown towards reducing carbon footprints and achieving ESG goals. Services are extended to brands, recyclers, and waste suppliers across India.

RACE Eco Chain's top competitors include ReCircle and GERL.

RACE Eco Chain offers Waste Management, Biomass Briquettes, and Recycled Products.

Yes, RACE Eco Chain is publicly traded on NSE under the ticker symbol RACE.

RACE Eco Chain has 1 investor. Key investors include Ganesha Ecosphere.

RACE Eco Chain operates through Race Eco Chain Limited.

The legal entities of RACE Eco Chain currently have 8 directors, including Sunil Kumar Malik, Sanjay Kukreja, Pranav Vasan and others.

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