RACE Eco Chain FY26 Profit Drops 39% Despite 11% Revenue Growth

Total Income: ₹38,424.83 lakhs (Previous year: ₹46,141.38 lakhs)
Revenue from Operations: ₹38,182.48 lakhs (Previous year: ₹46,029.91 lakhs)
Profit Before Tax: ₹356.86 lakhs (Previous year: ₹476.33 lakhs)
Profit After Tax: ₹229.62 lakhs (Previous year: ₹375.76 lakhs)
Earnings Per Share (EPS): ₹1.33 (Previous year: ₹2.23)

Revenue from Operations: ₹61,875.59 lakhs (11% increase from FY25 ₹55,509.53 lakhs)
Profit After Tax: ₹729.46 lakhs (Previous year: ₹419.48 lakhs)
Earnings Per Share (EPS): ₹4.23 (Previous year: ₹2.43)
Total Comprehensive Income: ₹6,041.31 lakhs

Authorized Share Capital: ₹25.00 crores
Paid-up Equity Share Capital: ₹17.26 crores (1.73 crore equity shares)
Warrant Forfeiture: ₹17.20 crore forfeited from 19.55 lakh unexercised warrants
Non-Current Investments: ₹1,209.23 lakhs, including ₹903.26 lakhs in Prime Industries Limited and ₹305.87 lakhs in Rudra Ecovation Limited warrants
Property, Plant & Equipment: Gross block increased by ₹788.18 lakhs to ₹2,215.62 lakhs, primarily in Plant & Machinery, Vehicles, and Furniture

Total Borrowings: ₹8,996.06 lakhs
Secured Term Loans: ₹153.09 lakhs
Secured Cash Credit (ICICI Bank): ₹4,673.33 lakhs
Secured Bill Discounting (S G Finserve): ₹2,845.73 lakhs
Unsecured Loans from Related Parties: ₹350.00 lakhs
Unsecured Intercorporate Loans: ₹1,251.66 lakhs
Trade Receivables: ₹9,992.57 lakhs (net), majority undisputed and less than 6 months old
Cash & Cash Equivalents: ₹1,543.01 lakhs

1. Silverline Eco Thrive Limited

2. Ganesha Recycling Chain Private Limited (51% ownership)

3. Vasundhara Envirogreen Private Limited

4. Race Grassland Private Limited (incorporated March 9, 2026, 51% ownership)

Completed disinvestment from India Polymers Private Limited
Acquired 51% stake in Ganesha Recycling Chain to expand PET washing infrastructure
Divested 0.99% equity stake in Prime Industries Limited, ceasing associate status
Ganesha Recycling acquired 51% stake in Shubhlaxmi Ecoplast LLP

Date & Time: September 26, 2026 at 1:00 PM (Video Conferencing)

1. Adoption of audited standalone and consolidated financial statements

2. Re-appointment of Mr. Lalit Kumar Malik as Director

3. Appointment of Akshay Singhla & Associates as Statutory Auditors for 5 years

4. Re-appointment and remuneration of Mr. Sunil Kumar Malik as Managing Director for 3 years

Forward integration into PET washing through Ganesha Recycling Chain
Establishment of multiple PET washing lines across India
Target to produce quality recycled PET flakes for downstream applications
Estimated market opportunity: $1.58 billion (2025) growing to $3.13 billion by 2033

1. Recycle Division: Revenue ₹60,060.87 lakhs, PBT ₹1,065.19 lakhs

2. Restore Division: Revenue ₹987.90 lakhs, PBT ₹166.25 lakhs

3. Biomass Division: Revenue ₹826.82 lakhs, PBT ₹26.60 lakhs

Chairman & Managing Director: Mr. Sunil Kumar Malik
Non-Executive Directors: Mr. Lalit Kumar Malik, Mr. Anil Kumar Behl
Independent Directors: Mr. Sanjay Kukreja, Mr. Pranav Vasan, Mrs. Seema Malik

Focus on pan-India PET collection network expansion
Strengthening technology platform (RACE Eco App)
Building ESG-aligned supplier ecosystem
Demerger scheme for Biomass and Restore Bag divisions under regulatory consideration
Behavioral change initiatives for waste segregation and responsible disposal