Race Eco Chain reported a consolidated net profit of ₹7.29 crore for the financial year ended March 31, 2026, marking a 73.9% increase from the previous year's ₹4.19 crore.

The waste management and recycling company saw its consolidated operating revenue grow by 11.5% to ₹618.75 crore, up from ₹555.10 crore in FY25. The top-line expansion was supported by higher volumes in its core recycling division and forward integration efforts through its subsidiary, Ganesha Recycling Chain Private Limited.

Financial Performance

The company's profitability improved significantly on a consolidated basis, with EBITDA rising by 46.39% to ₹14.20 crore. This growth outpaced the revenue increase, leading to an expansion in the EBITDA margin by 55 basis points to 2.30% from 1.75% in the prior year.

On a standalone basis, however, the parent entity faced headwinds. Standalone revenue contracted by 17.0% to ₹381.82 crore, and standalone net profit fell by 38.9% to ₹2.30 crore. This divergence highlights the growing contribution of subsidiaries to the group's overall bottom line.

What the Numbers Show

The data reveals a distinct operational divergence between the holding company and its consolidated group. While the standalone entity saw revenues decline, the consolidated group grew double-digits. This suggests that value creation is increasingly concentrated within subsidiaries like Ganesha Recycling Chain, which is focused on PET washing and processing. The consolidation of these entities has effectively insulated the group's top-line growth from the volatility affecting the parent company's direct trading operations.

Business Highlights

Race Eco Chain aggregated approximately 80,609 metric tonnes of plastic waste during the year. The PET Waste Division contributed ₹363.68 crore in revenue, generating an EBIT of ₹7.76 crore. The Biomass Division aggregated 10,140 metric tonnes, contributing ₹8.27 crore to the top line.

Corporate Actions

The Board of Directors proposed the re-appointment of Mr. Sunil Kumar Malik as Managing Director for a three-year term starting October 2, 2026. Additionally, the company recommended appointing Akshay Singhla & Associates as statutory auditors for five years.

The 26th Annual General Meeting is scheduled for September 26, 2026, to approve these resolutions and adopt the audited financial statements for FY26.

Race Eco Chain Limited has confirmed the cut-off date for determining voting rights at its upcoming Annual General Meeting. The record date is set for Friday, September 28, 2026, superseding earlier indications of September 19. This clarification ensures shareholders holding equity on this date are eligible to vote electronically.

The company issued a compliance notice to the Bombay Stock Exchange and the National Stock Exchange on September 1, 2026. This submission confirms the publication of newspaper advertisements in "Financial Express" and "Jansatta" regarding the upcoming shareholder meeting. Additionally, the company notified shareholders who have not registered email addresses about the availability of the AGM notice and annual report.

Meeting Details

The 26th AGM will be held without the physical presence of shareholders. The format adheres to the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders will transact business as outlined in the official AGM Notice.

Agenda Items

Shareholders will consider ordinary business including the adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. The meeting will also see the re-appointment of Mr. Lalit Kumar Malik as a Director, who retires by rotation.

Additionally, shareholders will vote on the appointment of Akshay Singhla & Associates as Statutory Auditors for a five-year term concluding with the 31st AGM. As special business, the Board seeks approval for the re-appointment of Mr. Sunil Kumar Malik as Managing Director for three years, from October 2, 2026, to October 1, 2029.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations. The company also cited compliance with circulars from the Ministry of Corporate Affairs and SEBI. Shiwati, the Company Secretary and Compliance Officer, signed the submission digitally on September 1, 2026.

E-Voting and Participation

The register of members will remain closed from September 20, 2026, to September 26, 2026. Remote e-voting begins on Wednesday, September 23, 2026, at 9:00 am and ends on Friday, September 25, 2026, at 5:00 pm.