Race Eco Chain share price, P/E, ROE & financials

On 6 Nov 2026, Race Eco Chain was priced at ₹104.84, or 23.0× trailing earnings, against an industry P/E of 13.9×, and the shares are 50% below their 52-week high. Sales and net profit grew 32% and 73% a year over 3 years, with ROCE of 19% and ROE of 9.3%. Debt is 1.04× equity. It is a small-cap company with a market cap of ₹181 Cr, ranked 5th of 11 Waste Management companies by market cap; the shares fell 50% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year

Open: ₹105.67
Day high: ₹106.65
Day low: ₹103.30
Prev. close: ₹106.74
Volume: 10.2K

Health check

3 fair · 3 to check

ReturnsBehind
−49.5% over a year, better than 0 of 7 peers.
Price tagPricier
P/E 23.0 vs industry 13.9.
GrowthSteady
Sales +32.0%, profit +73.0% a year over 3 years.
ProfitabilityAverage
ROCE 19.1% vs peer median 13.7%.
Balance sheetFair
Debt 1.04× equity, interest covered 2.2×.
Red flags3 to check
P/E of 23.0 against an industry P/E of 13.9.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Waste Management

10 listed peers. Screen the industry

Small cap

₹181 Cr, #5 of 11 in its industry by size.

Defensive

Beta 0.40 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Jun 2026: sales ₹653 Cr · profit ₹8 Cr

Market cap: ₹181 Cr; Small cap
P/E: 23.0; Industry 13.9
Price to book: 2.31; Peers 1.62
Dividend yield: 0.00%
ROE: 9.3%; Peers 11.3%
ROCE: 19.1%; Peers 13.7%
Debt to equity: 1.04; Debt ₹90 Cr
EPS (TTM): ₹4.56; Face value ₹10
OPM (TTM): 2.3%; Net margin 1.2%
Sales growth: +21.9%; Latest quarter vs a year ago
Profit growth: +218.8%; Latest quarter vs a year ago
Price to sales: 0.28; EV/EBITDA 19.1

Strengths

Quarterly profit up 218.8% on a year ago.
Quarterly sales up 21.9% on a year ago.

Risks to check

P/E of 23.0 against an industry P/E of 13.9.
50% below its 52-week high.
Interest coverage of only 1.9×.

Derived automatically from reported figures. Not a recommendation.

About Race Eco Chain

Race Eco Chain Limited, together with its subsidiaries, engages in waste management activities in India. It operates through Misc. Old Economy Products; Recycle Division; Restore Division; Biomass Division; and IT Division segments. The company is involved in the collection and supply of recyclable waste, such as PET plastic bottle waste, non-PET plastic recycling, wastepaper, metal waste, and other wastes; and sale of biomass briquettes, such as mustard,…

Headquarters: Noida
Employees: 46
Sector: Industrials
ISIN: INE084Q01012
Website: raceecochain.com

Price range

52 weeks

₹84.11₹208.61

Today

₹103.30₹106.65

Avg volume (3M): 58K
1-year return: minus 49.5%
From 52-week high: minus 49.7%

Peers · Waste Management

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
NRLNupur Recyclers	166.88	minus 0.18%	1,153	67.3	68.6	13.7%	9.1%	0.23	4.9%	plus 141.5%
AWHCLAntony Waste Handling Cell	304.45	minus 0.83%	864	14.8	5.5	10.6%	18.1%	0.50	7.2%	minus 40.6%
ECORECOEco Recycling	395.75	minus 3.33%	764	32.1	24.8	26.7%	59.4%	0.05	39.5%	minus 15.4%
ORGANICRECOrganic Recycling Systems	215.55	minus 1.28%	336	11.7	12.1	16.3%	19.2%	0.37	78.1%	plus 31.0%
RACERace Eco Chain	104.84	minus 1.78%	181	23.0	19.2	–	1.5%	1.04	32.0%	minus 49.5%
RESGENResGen	46.00	0.00%	96	9.5	6.9	18.7%	17.1%	0.02	44.6%	minus 43.3%
GEMENVIROGEM Enviro Management	38.00	minus 2.54%	86	18.1	15.4	12.3%	3.0%	0.09	33.8%	minus 27.8%
GANVERSEGanesha Ecoverse	23.50	0.00%	58	–	–	−12.1%	394.1%	0.34	52.7%	minus 31.1%
Median of 7 peers	–	−0.83%	336	16.4	13.8	13.7%	18.1%	0.23	39.5%	−27.8%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Sep 25	Dec 25	Mar 26	Jun 26
157	148	131	182	191
154	145	128	178	187
2.9	3.7	3.3	4.3	3.6
1.9%	2.5%	2.6%	2.3%	1.9%
0.3	1.7	1.8	1.2	1
1.7	2	2.1	2.5	2.5
0.3	0.5	0.5	0.5	0.8
1.4	2.9	2.5	2.4	1.4
69.4%	−3.3%	23.1%	18.8%	25.8%
0.3	2.8	1.8	1.9	1.1
1.13	1.72	1.10	1.14	0.60

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +32.0%
Profit CAGR 3Y: +73.0%
EPS CAGR 3Y: +70.5%
ROE: 9.3%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
269	347	555	619
–	+29.1%	+59.7%	+11.5%
267	341	545	604
2.2	6.3	9.9	14.7
0.8%	1.8%	1.8%	2.4%
0.6	0.3	0.7	3.9
0.7	2.8	4.1	7.7
0.4	0.8	0.9	1.8
0.2	−0.2	−0	−0
1.8	2.7	5.5	9.2
27.0%	43.3%	24.4%	20.5%
1.3	1.5	3.9	6.8
–	+18.7%	+151.3%	+73.8%
0.79	0.92	2.22	3.92

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
16.4	16.4	17.3	17.3
4.1	5.8	54.3	56.9
15.5	42.5	61.6	90
13.1	18.2	49.1	51.3
49.2	83	182	216
2.9	10.8	12.6	29.2
–	2.6	2.2	12.7
0	1.4	14.3	12.1
3.1	0.4	5.3	15.6
43.2	67.7	148	146
49.2	83	182	216

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
−14.6	−8.5	−42.9	18.9
6.6	−18.2	−13.4	−28.8
9.9	24.1	61.1	20.2
2	−2.7	4.8	10.3
−0.7	−9	−8.9	−12.6
−15.3	−17.6	−51.7	6.3

Shareholding pattern

Source: NSE filings

44.8%

promoters

Promoters44.79%
Public55.21%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	44.79%	55.21%	0.00
30 Jun 2026	44.79%	55.21%	0.00
31 Mar 2026	44.79%	55.21%	0.00
31 Dec 2025	44.79%	55.21%	0.00
30 Sep 2025	44.79%	55.21%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you