RACE—56

Race Eco Chain Ltd

Textiles & Leather GoodsVerified

Score breakdown

Profitability+9Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion95AI synthesis40Observations3

Race Eco Chain Ltd has a debt-to-equity ratio of 0.86 and a current ratio of 1.35, indicating moderate liquidity and a balanced capital structure [doc:HA-latest]. However, the company's cash and equivalents are negative at -INR 1,000, and its operating cash flow is negative at -INR 412.31 million, signaling potential liquidity constraints [doc:HA-latest]. The company's profitability is modest, with a return on equity of 5.44% and a return on assets of 2.14%. These figures are below the typical thresholds for strong performance in the waste management and recycling industry, suggesting that the company is not generating robust returns relative to its equity and asset base [doc:HA-latest]. Race Eco Chain Ltd operates across four segments: Recycle, Restore, Biomass, and Other waste. The company's revenue is diversified across these segments, with a focus on polyethylene terephthalate (PET) Plastic Bottle Waste, Non-PET Plastic Recycling, Wastepaper, and Metal Waste. The company also delivers sustainable biomass fuel through products like Mustard Briquettes and Sawdust Briquettes [doc:HA-latest]. The company's growth trajectory is uncertain, with no specific numeric deltas provided for the current or next fiscal year. However, the company's operating income of INR 88.51 million and net income of INR 38.93 million suggest a modest level of profitability. The company's capital expenditure of -INR 88.65 million indicates a reduction in investment, which may affect long-term growth [doc:HA-latest]. The company faces moderate liquidity risk due to its negative cash and equivalents and negative operating cash flow. The risk assessment indicates a low probability of dilution, but the company's negative net cash position after subtracting total debt is a key flag to monitor [doc:HA-latest]. Recent events and filings have not been provided in the input data, so no specific recent developments can be cited. However, the company's AI-enabled app and blockchain-based transaction services represent innovative approaches to its business model [doc:HA-latest].

Profile

CompanyRace Eco Chain Ltd

TickerRACE.NS

SectorConsumer Cyclicals

BusinessCyclical Consumer Products

Industry groupCyclical Consumer Products

IndustryTextiles & Leather Goods

AI analysis

Business. Race Eco Chain Ltd collects, segregates, transports, trades, processes, composts, recycles, treats, and disposes of various types of waste, including plastic, paper, and metal, and delivers sustainable biomass fuel and AI-enabled blockchain-based transaction services [doc:HA-latest].

Classification. Race Eco Chain Ltd is classified under the Consumer Cyclicals economic sector, specifically in the Textiles & Leather Goods industry, with a confidence level of 0.92 [doc:verified market data].

Key takeaways

Race Eco Chain Ltd has a moderate liquidity position with a current ratio of 1.35 but faces challenges due to negative cash and equivalents.
The company's profitability is modest, with a return on equity of 5.44% and a return on assets of 2.14%.
The company operates across four segments, with a focus on plastic and metal waste recycling and sustainable biomass fuel.
The company's growth trajectory is uncertain, with no specific numeric deltas provided for the current or next fiscal year.
The company faces moderate liquidity risk and a low probability of dilution.
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Financial snapshot

PeriodHA-latest

CurrencyINR

Revenue$5.55B

Gross profit$153.4M

Operating income$88.5M

Net income$38.9M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow-$412.3M

CapEx-$88.7M

Free cash flow-$38.0M

Total assets$1.82B

Total liabilities$1.11B

Total equity$715.7M

Cash & equivalents-$1.0k

Long-term debt$616.1M

Annual history (last 5)

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Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book$715.7M

Net cash-$616.1M

Current ratio1.4

Debt/Equity0.9

ROA2.1%

ROE5.4%

Cash conversion-10.6%

CapEx/Revenue-1.6%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Textiles & Leather Goods · cohort 271 companies

MetricRACEActivity

Op margin1.6%4.3% medp25 -0.2% · p75 8.6%below median

Net margin0.7%2.3% medp25 -0.6% · p75 6.5%below median

Gross margin2.8%17.4% medp25 10.3% · p75 28.8%bottom quartile

CapEx / revenue-1.6%-2.9% medp25 -6.0% · p75 -1.1%above median

Debt / equity86.0%46.3% medp25 9.2% · p75 99.3%above median

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-03 21:28 UTC#efbeaef2

Source: analysis-pipeline (hybrid)Generated: 2026-05-03 21:30 UTCJob: a416f0e2