Race Eco Chain Limited

22,491 MT

300+ Suppliers Network*35+ Collection centres* Q2FY26 : Performance Highlights (Standalone) (YoY) ~22,491 MT This is the quantum of waste (in tonnes) that we aggregated during Q2FY26. India generates more t

20%

ated during Q2FY26. India generates more than 62mn tons of municipal solid waste annually and only 20% is recycled. The problem is huge and lot to contribute hence we have a towards cleaner India! SNA

₹ 96.10 crore

cled. The problem is huge and lot to contribute hence we have a towards cleaner India! SNAPSHOTS ₹ 96.10 crore 10% YoY Operating Revenue 20,238 22,491 Q1FY26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29%

10%

lem is huge and lot to contribute hence we have a towards cleaner India! SNAPSHOTS ₹ 96.10 crore 10% YoY Operating Revenue 20,238 22,491 Q1FY26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29% YoY

₹ 3.06 crore

S ₹ 96.10 crore 10% YoY Operating Revenue 20,238 22,491 Q1FY26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin*

29%

ore 10% YoY Operating Revenue 20,238 22,491 Q1FY26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin* PAT

₹ 1.15 crore

oY Operating Revenue 20,238 22,491 Q1FY26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin* PAT Margin *To refle

480%

Revenue 20,238 22,491 Q1FY26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin* PAT Margin *To reflect up

3.19%

1 Q1FY26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin* PAT Margin *To reflect upon our core operations,

138 bps

Y26 Q2FY26 Waste Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin* PAT Margin *To reflect upon our core operations, EBITDA m

1.20%

Waste Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin* PAT Margin *To reflect upon our core operations, EBITDA margin is co

143 bps

Aggregated (MT) ₹ 3.06 crore 29% YoY ₹ 1.15 crore 480% YoY EBITDA PAT 3.19% 138 bps YoY 1.20% 143 bps YoY EBITDA Margin* PAT Margin *To reflect upon our core operations, EBITDA margin is computed e

“Restore Division The Biofuel Division faced operational headwinds during FY25: Revenue Performance: Revenue declined to ₹18.71 crore from ₹44.31 crore in FY24, representing a 58% YoY reduction Operational Challenges: The division experienced significant procurement chain disruptions that impacted performance Strategic Response: Management has initiated a comprehensive restructuring of the biomass procurement ecosystem to address these challenges.”

“The RESTORE Division has demonstrated exceptional momentum, validating our strategic focus on sustainability-driven solutions: Revenue Acceleration: Delivered transformative growth with standalone revenue increasing nearly three-fold to ₹8.94 crore in FY25 from ₹2.34 crore in FY24.”

“Profitability Breakthrough: Achieved structural profitability turnaround, generating positive EBIT of ₹0.25 crore in FY25 compared to a loss of ₹0.06 crore in FY24.”

“20 Consolidated Income Statement Particulars (INR Cr) Q2FY26 Q1FY26 Q2FY25 FY25 FY24 INCOME STATEMENT INR Cr Revenue from Operations Operating Costs Operating Profit Other Income Finance Costs Depreciation and Amortisation Share of Profit / Loss in Associates Profit Before Tax (PBT) Less: Tax expense Profit After Tax (PAT) 148.43 144.75 3.86 0.38 1.98 0.52 1.31 2.87 (0.10) 2.97 We have used summarized financials for presentation purpose.”

“Through which we are aiming to work towards offering market insights such as price trends, future industry prospects, environmental government compliance, and the latest news and developments in the waste management sector.”

“Following this categorization, we intend to initiate the independent third-party ESG assessment for the most actively involved segment of our value chain partners.”

“Aim to forge similar joint ventures with other recyclers.”

Segment Performance

2

Sustainability Gap

1

Current Challenge

1

Regulatory Shift

1

Strategic Positioning

1

ESG Assessments

1

Ecosphere

1

Supplier Sustainability Checks

1

Dedicated Collection Centers

1

Highlights

1

Segment Performance

Restore Division The Biofuel Division faced operational headwinds during FY25: Revenue Performance: Revenue declined to ₹18.71 crore from ₹44.31 crore in FY24, representing a 58% YoY reduction Operational Challenges: The division experienced significant procurement chain disruptions that impacted performance Strategic Response: Management has initiated a comprehensive restructuring of the biomass procurement ecosystem to address these challenges. Forward Outlook: We are implementing targeted interventions to rebuild supply chain resilience and are confident in restoring growth trajectory in upcoming quarters. The RESTORE Division has demonstrated exceptional momentum, validating our strategic focus on sustainability-driven solutions: Revenue Acceleration: Delivered transformative growth with standalone revenue increasing nearly three-fold to ₹8.94 crore in FY25 from ₹2.34 crore in FY24. Profitability Breakthrough: Achieved structural profitability turnaround, generating positive EBIT o

Current Challenge

The majority of India's recycled waste is managed by the informal sector, often lacking adherence to health, safety, and governance standards.

Regulatory Shift

SEBI's mandates are driving India towards ESG compliance, with BRSR core disclosures for value chain coupled with mandatory EPR targets for PIBOs.

ESG Assessments

We are planning to engage independent third parties for comprehensive ESG evaluations across our value chain. Alliance with Ganesha

Dedicated Collection Centers

Strategizing to establish collection centers that strictly follow ESG compliances. Outcome Our ESG-focused initiatives position us strategically to meet increasing demand for sustainable value chains, addressing both regulatory requirements and market expectations. Thus, we are highly committed to be the catalysts in bridging the existing sustainability gap in the waste management sector. 22 Race at the forefront for upcoming Opportunities & Challenges OPPORTUNITY Bottle to Bottle Manufacturing. Growing demand for ESG complaint and organized Waste Supply Chain EPR norms require 1/3rd of recycled material to be used for packaging material Manufacturing by 2025. Technology will play a huge role in organizing the unorganized waste market. CHALLENGE Is expected to grow significantly leading to larger demand for R- PET material. Major Corporations , FMCG Companies are pushing recyclers for organized Supply Chain for Waste procurement. Leading to huge demand for recycled products and waste m

Future Strategy

form Race Ecochain with Ganesha Ecosphere Limited, the largest PET recycler in India, have signed an agreement on 31st January 2025 to joint venture named Ganesha Recycling Chain Private Limited. This collaboration aims to launch numerous washing lines across India to transform PET bottles into premium rPET flakes. Strengthens our position in the growing market and contributing to circular economy This collaboration aims to launch numerous washing lines across India to transform PET bottles into premium rPET flakes. This joint venture is poised to address the escalating demand for recycled PET (rPET) in India, driven by ESG mandates and regulatory requirements. This JV advances both environmental protection and economic growth. This joint venture marks a significant forward integration of RACE business, positioning RACE for higher-margin opportunities. Reduced environmental impact by promoting effective utilization of PET Creating employment opportunities within the recycling industry.