Race Eco Chain Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Operating Revenue	6,302	5,551	3,475	2,691	1,572	587.16
Other Revenue	6.07	-	-	-0.1	-	-
Revenue	6,308	5,551	3,475	2,691	1,572	587.16
Revenue Growth (YoY)	41.34%	59.75%	29.14%	71.15%	167.75%	271.00%
Cost of Revenue	6,096	5,398	3,373	2,627	1,536	554.87
Gross Profit	212.04	152.76	101.7	63.73	36.48	32.3
Selling, General & Admin	39.71	33.78	23.37	26.39	18.05	12.14
Other Operating Expenses	31.91	21.04	20.07	16.19	15.76	18.42
Operating Expenses	86.73	63.6	51.46	47.01	37.11	32.88
Operating Income	125.32	89.16	50.24	16.71	-0.63	-0.59
Interest Expense	-70.84	-40.79	-27.7	-6.95	-3.93	-6.12
Interest & Investment Income	7.56	7.56	4.33	5.54	6.23	6.97
Earnings From Equity Investments	27.49	0.62	-	-	-	-
Currency Exchange Gain (Loss)	-0.03	-0.03	-0.06	0.09	0.39	0.81
Other Non Operating Income (Expenses)	-0.63	-0.63	0.75	0.04	2.88	8.82
EBT Excluding Unusual Items	88.87	55.89	27.56	15.43	4.95	9.88
Gain (Loss) on Sale of Investments	-	-	-	-	0.24	7.37
Gain (Loss) on Sale of Assets	-	-	-	0.01	5.42	-2.52
Other Unusual Items	-	-	-	-0.12	-	-
Pretax Income	88.87	55.89	27.56	17.89	10.61	14.73
Income Tax Expense	19.64	13.94	12.09	4.84	1.44	4.77
Earnings From Continuing Operations	69.23	41.95	15.47	13.05	9.17	9.97
Minority Interest in Earnings	-5.43	-3.02	0.02	-	-	-
Net Income	63.8	38.93	15.49	13.05	9.17	9.97
Net Income to Common	63.8	38.93	15.49	13.05	9.17	9.97
Net Income Growth	183.68%	151.30%	18.72%	42.26%	-7.96%	2608.26%
Shares Outstanding (Basic)	17	17	17	16	16	16
Shares Outstanding (Diluted)	17	17	17	16	16	16
Shares Change (YoY)	2.99%	1.48%	2.57%	-	-	-10.68%
EPS (Basic)	3.81	2.31	0.92	0.79	0.56	0.61
EPS (Diluted)	3.75	2.28	0.92	0.79	0.56	0.61
EPS Growth	176.00%	147.64%	16.34%	41.53%	-7.96%	2932.19%
Free Cash Flow	-	-515.1	-120.05	-145.87	11.15	-53.3
Free Cash Flow Per Share	-	-30.12	-7.12	-8.88	0.68	-3.24
Gross Margin	3.36%	2.75%	2.93%	2.37%	2.32%	5.50%
Operating Margin	1.99%	1.61%	1.45%	0.62%	-0.04%	-0.10%
Profit Margin	1.01%	0.70%	0.45%	0.48%	0.58%	1.70%
Free Cash Flow Margin	-	-9.28%	-3.45%	-5.42%	0.71%	-9.08%
EBITDA	132.04	96.44	58.25	21.15	2.67	1.75
EBITDA Margin	2.09%	1.74%	1.68%	0.79%	0.17%	0.30%
D&A For EBITDA	6.73	7.28	8.02	4.43	3.3	2.33
EBIT	125.32	89.16	50.24	16.71	-0.63	-0.59
EBIT Margin	1.99%	1.61%	1.45%	0.62%	-0.04%	-0.10%
Effective Tax Rate	22.10%	24.95%	43.87%	27.05%	13.54%	32.36%
Revenue as Reported	6,317	5,560	3,482	2,699	1,588	612.18
Advertising Expenses	-	1.88	0.53	0.46	0.35	0.32

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.