Race Eco Chain Limited Approves Auditor Appointments and Reports Q2 Financials
Race Eco Chain Limited, on August 12, 2026, finalized several key corporate governance appointments while reporting its unaudited financial results for the quarter ended June 30, 2026. The board meeting approved the company's annual report and set the date for its upcoming Annual General Meeting (AGM).The Board of Directors reviewed and approved the standalone and consolidated un-audited financial results for the quarter, which were subject to a limited review report by Chartered Accountants.
Governance Appointments and Key Decisions
Key decisions made during the board meeting included:- Internal Audit: M/s Modi Harsh & Co. was appointed as the Internal Auditor for the Financial Year 2026-2027.
- Statutory Audit: The Board approved the appointment of M/s Akshay Singhla & Associates, Chartered Accountants, to serve as Statutory Auditors for a term of five years, commencing from the conclusion of the ensuing 26th AGM until the conclusion of the 31st AGM.
- Managing Director Re-appointment: Mr. Sunil Kumar Malik was re-appointed as Managing Director of the Company for three years, effective October 02, 2026, and ending on October 1, 2029.
Quarterly Financial Performance Summary (Q ended June 30, 2026)
Race Eco Chain Limited reported its performance across standalone and consolidated entities for the quarter ended June 30, 2026. The results are presented in lakhs, except Earnings Per Share (EPS).The Consolidated Statement of Unaudited Financial Results showed the following key figures:
| Metric | Q Ended June 30, 2026 (Unaudited) | Q Ended March 31, 2026 (Audited) | Q Ended June 30, 2025 (Unaudited) | Year Ended March 31, 2026 (Audited) |
|---|---|---|---|---|
| Revenue from Operations | 19,106.45 | 18,247.66 | 15,672.60 | 61,875.49 |
| Total Income (including Other Income) | 19,188.30 | 18,300.22 | 15,701.65 | 62,041.07 |
| Total Expenses | 19,070.93 | 18,121.59 | 15,572.19 | 61,454.80 |
| Profit before tax (before associates) | 117.38 | 178.63 | 129.46 | 586.27 |
| Profit for the period | 22.27 | 55.70 | 195.70 | 307.09 |
| EPS - Basic | 0.60 | 1.14 | 1.13 | 4.23 |
Standalone and Segmental Review
The company's standalone performance for the quarter also showed key figures, with total income standing at 9,421.60 lakhs against total expenses of 10,774.87 lakhs. Profit for the period was reported at 60.99 lakhs.The segment-wise financial results provided a detailed look into operations across three divisions: Recycle, Restore, and Biomass Division.
| Segment | Revenue (Q ended June 30, 2026) | Profit from Ordinary Activities before Exceptional Items & Tax (lakhs) |
|---|---|---|
| Recycle Division | 8,665.63 | 245.49 |
| Restore Division | 62.41 | 1.54 |
| Biomass Division | 589.46 | 24.66 |
The company's operations include Plastic Waste, Home furnishing, Madeup, Bags & Garments, and Briquettes. During the reporting period, the Company forfeited 1,955,000 convertible warrants issued on a preferential basis, for which an upfront subscription amount of $17,20,40,000 had been received. Additionally, the company acquired 102,000 equity shares of its subsidiary, M/s Ganesha Recycling Chain Private Limited, for a total consideration of $1,02,00,000.
RACE Stock Price Movement
Shares of Race Eco Chain Limited slipped by 6.55% on Wednesday, closing at ₹102.31 after shedding ₹7.08 from the previous day’s close. The stock traded with a volume of 12,964 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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