Race Eco Chain Limited (RACE) - Net Assets

Latest as of September 2025: Rs844.15 Million INR ≈ $9.13 Million USD

Based on the latest financial reports, Race Eco Chain Limited (RACE) has net assets worth Rs844.15 Million INR (≈ $9.13 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs2.02 Billion ≈ $21.83 Million USD) and total liabilities (Rs1.17 Billion ≈ $12.71 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Race Eco Chain Limited liquidity resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs844.15 Million
% of Total Assets	41.81%
Annual Growth Rate	30.43%
5-Year Change	330.2%
10-Year Change	363.16%
Growth Volatility	86.59

Race Eco Chain Limited - Net Assets Trend (2009–2025)

This chart illustrates how Race Eco Chain Limited's net assets have evolved over time, based on quarterly financial data. Also explore how large is Race Eco Chain Limited's balance sheet for the complete picture of this company's asset base.

Annual Net Assets for Race Eco Chain Limited (2009–2025)

The table below shows the annual net assets of Race Eco Chain Limited from 2009 to 2025. For live valuation and market cap data, see Race Eco Chain Limited (RACE) total market value.

Year	Net Assets	Change
2025-03-31	Rs779.31 Million ≈ $8.43 Million	+250.45%
2024-03-31	Rs222.37 Million ≈ $2.40 Million	+8.11%
2023-03-31	Rs205.70 Million ≈ $2.22 Million	+6.76%
2022-03-31	Rs192.67 Million ≈ $2.08 Million	+6.36%
2021-03-31	Rs181.15 Million ≈ $1.96 Million	+5.82%
2020-03-31	Rs171.18 Million ≈ $1.85 Million	+0.22%
2019-03-31	Rs170.82 Million ≈ $1.85 Million	+0.30%
2018-03-31	Rs170.31 Million ≈ $1.84 Million	+0.48%
2017-03-31	Rs169.50 Million ≈ $1.83 Million	+0.74%
2016-03-31	Rs168.26 Million ≈ $1.82 Million	+0.08%
2015-03-31	Rs168.12 Million ≈ $1.82 Million	+0.72%
2014-03-31	Rs166.92 Million ≈ $1.81 Million	+146.71%
2013-03-31	Rs67.66 Million ≈ $731.67K	+39.40%
2012-03-31	Rs48.53 Million ≈ $524.87K	+262.19%
2011-03-31	Rs13.40 Million ≈ $144.92K	+9.90%
2010-03-31	Rs12.19 Million ≈ $131.86K	+9.72%
2009-03-31	Rs11.11 Million ≈ $120.18K	--

Equity Component Analysis

This analysis shows how different components contribute to Race Eco Chain Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 9607600000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs96.08 Million	13.42%
Common Stock	Rs172.57 Million	24.11%
Other Comprehensive Income	Rs172.04 Million	24.04%
Other Components	Rs275.06 Million	38.43%
Total Equity	Rs715.75 Million	100.00%

Race Eco Chain Limited Competitors by Market Cap

The table below lists competitors of Race Eco Chain Limited ranked by their market capitalization.

Company	Market Cap
Devonian Health Group Inc V:GSD	$22.43 Million
Chonburi Concrete Product Public Company Limited BK:CCP	$22.43 Million
Seach Medical Group Ltd TA:SEMG	$22.44 Million
KONG SUN (BL25000) F:KOJ5	$22.45 Million
Foxx Development Holdings Inc. NASDAQ:FOXX	$22.42 Million
Integrum AB Series B ST:INTEG-B	$22.41 Million
Flux Power Holdings Inc NASDAQ:FLUX	$22.41 Million
Stardust Power Inc. NASDAQ:SDST	$22.40 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Race Eco Chain Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 222,106,000 to 715,746,000, a change of 493,640,000 (222.3%).
Net income of 38,929,000 contributed positively to equity growth.
New share issuances of 462,440,000 increased equity.
Other comprehensive income increased equity by 168,795,000.
Other factors decreased equity by 176,524,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs38.93 Million	+5.44%
Share Issuances	Rs462.44 Million	+64.61%
Other Comprehensive Income	Rs168.79 Million	+23.58%
Other Changes	Rs-176.52 Million	-24.66%
Total Change	Rs-	222.25%

Book Value vs Market Value Analysis

This analysis compares Race Eco Chain Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 2.67x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 177.70x to 2.67x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2009-03-31	Rs0.68	Rs120.18	x
2010-03-31	Rs0.74	Rs120.18	x
2011-03-31	Rs0.82	Rs120.18	x
2012-03-31	Rs2.95	Rs120.18	x
2013-03-31	Rs644.34	Rs120.18	x
2014-03-31	Rs1589.68	Rs120.18	x
2015-03-31	Rs10.23	Rs120.18	x
2016-03-31	Rs9.37	Rs120.18	x
2017-03-31	Rs10.93	Rs120.18	x
2018-03-31	Rs10.56	Rs120.18	x
2019-03-31	Rs10.10	Rs120.18	x
2020-03-31	Rs10.42	Rs120.18	x
2021-03-31	Rs11.02	Rs120.18	x
2022-03-31	Rs11.73	Rs120.18	x
2023-03-31	Rs12.52	Rs120.18	x
2024-03-31	Rs13.44	Rs120.18	x
2025-03-31	Rs45.05	Rs120.18	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Race Eco Chain Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 5.44%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 0.70%
• Asset Turnover: 3.04x
• Equity Multiplier: 2.55x
Recent ROE (5.44%) is above the historical average (3.20%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2009	0.67%	0.02%	1.80x	16.49x	Rs-1.04 Million
2010	8.86%	0.37%	1.78x	13.61x	Rs-139.30K
2011	9.01%	0.56%	2.69x	5.96x	Rs-133.00K
2012	2.33%	0.35%	1.59x	4.14x	Rs-3.72 Million
2013	1.66%	0.33%	1.76x	2.87x	Rs-5.64 Million
2014	-0.11%	-0.05%	1.51x	1.58x	Rs-16.88 Million
2015	0.72%	0.29%	1.73x	1.45x	Rs-15.61 Million
2016	0.53%	0.21%	1.35x	1.84x	Rs-15.93 Million
2017	0.73%	0.35%	1.46x	1.42x	Rs-15.71 Million
2018	0.47%	0.15%	1.43x	2.27x	Rs-16.22 Million
2019	0.30%	0.10%	1.42x	2.06x	Rs-16.57 Million
2020	0.21%	0.23%	0.59x	1.57x	Rs-16.75 Million
2021	5.50%	1.70%	1.82x	1.78x	Rs-8.15 Million
2022	4.76%	0.58%	4.67x	1.75x	Rs-10.09 Million
2023	6.34%	0.48%	5.47x	2.39x	Rs-7.52 Million
2024	6.97%	0.45%	4.19x	3.74x	Rs-6.72 Million
2025	5.44%	0.70%	3.04x	2.55x	Rs-32.65 Million

Industry Comparison

This section compares Race Eco Chain Limited's net assets metrics with peer companies in the Waste Management industry.

Industry Context

Industry: Waste Management
Average net assets among peers: $1,559,792,604
Average return on equity (ROE) among peers: 24.29%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Race Eco Chain Limited (RACE)	Rs844.15 Million	0.67%	1.39x	$22.43 Million
Antony Waste Handling Cell Limited (AWHCL)	$4.43 Billion	10.18%	0.79x	$144.35 Million
Cerebra Integrated Technologies Limited (CEREBRAINT)	$252.84 Million	1.96%	0.92x	$4.43 Million
Nupur Recyclers Limited (NRL)	$540.00K	60.74%	172.46x	$43.38 Million

About Race Eco Chain Limited

NSE:RACE India Waste Management

Market Cap

$22.43 Million

Rs2.07 Billion INR

Market Cap Rank

#24784 Global

#1372 in India

Share Price

Rs120.18

Change (1 day)

-1.46%

52-Week Range

Rs86.05 - Rs269.25

All Time High

Rs443.05