What we do Race Eco Chain Limited focuses on plastic waste recycling, eco-friendly products, and biomass briquettes, promoting sustainability through organized waste management using AI-driven technology. |
Founded in 1,999 |
Market share Growing pan-India network with 80+ recyclers and 35+ collection centers; significant player in India’s plastic waste recycling sector. |
Problem solved Addresses plastic pollution by converting unorganized waste chains into organized, transparent, and traceable recycling supply networks via technology. |
Top clients or who we serve Serves B2B partners in recycling and waste management sectors, including recyclers, brands needing sustainable packaging, and biomass users. |
Key management Sunil Kumar Malik (Managing Director), Lalit Malik (Non-Executive Director), Anil Kumar Behl, Sanjay Kukreja, Pranav Vasan (Independent Directors). |
Our journey and innovations Founded in 1999, evolved from fabric trading to advanced AI-enabled waste recycling; launched 'RESTORE' brand and formed key joint ventures for PET recycling. |
Where we operate India-wide operations with collection centers in Uttar Pradesh, Jharkhand, Karnataka, Assam, and pan-India recycler network. |
Top products or what we offer 'RESTORE' recycled plastic products, plastic waste collection, biomass briquettes, and eco-friendly bags and garments. |
Top brands RESTORE - recycled sustainable products; Ganesha Recycling Chain Pvt Ltd JV for premium rPET flakes production. |
Raw materials needed Plastic waste (PET and others), biomass residues for briquettes, recyclable plastics sourced through company network. |
Raw materials supplier Mainly sourced through 300+ suppliers and 80+ recyclers across India; also from acquired firms like Vasundhara Envirogreen Pvt Ltd. |
Recurring vs cyclical contribution Revenue is largely recurring through steady waste collection contracts and product sales with cyclical fluctuations linked to regulatory environment. |
Our industry position Emerging leader formalizing India's unorganized plastic recycling market with technology and ESG compliance focus. |
Financial highlights FY25 consolidated revenue ₹555.1 crore with net profit ₹4.19 crore; YOY revenue growth approx 60%, net profit up 171%. |
Geographical revenue split Primarily domestic Indian market; expanding collection centers in multiple Indian states. |
Order book - |
Whats driving growth Rising plastic waste generation, government EPR mandates, ESG demand, technology adoption, and strategic partnerships fuel growth. |
Our future plans Expand collection centers, increase AI app adoption, grow biomass supply chain, JV scaling, and demerger for focused operations. |
Our green promise Commitment to ESG with traceability, CO2 reductions, certifications (ISO 14001, SMETA) and transparent sustainability reporting. |
Our people and values Focused on professional governance with audit, nomination, CSR committees, and ethical practices including whistleblower policy. |
Key challenges ahead Supply chain disruptions, regulatory changes, pricing volatility of recycled materials, and scaling formalization of waste sector. |
Interesting facts Developed AI-enabled 'RACE App' for waste transactions; jointly launched India’s first Talent recognition for waste suppliers 'Udaan'. |
Risks and strategy Risks from raw material price fluctuations and operational challenges mitigated through tech adoption, partnerships, and supply chain diversification. |
