Scans

Tools

Home

Charts

Watchlist

Products

Rockingdeals Circular Economy Ltd

ROCKINGDCE

NSE

₹219.00-3.25%19 Oct 2026

Reports

Trading

Rockingdeals Circular Economy Ltd

ROCKINGDCE

NSE

₹219.00

-3.25%

19 Oct 2026

SOICxStockScans Reports

Ask AI

Trading

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.

Rockingdeals Circular Economy Ltd is India’s first listed B2B re-commerce company, built on a simple idea: branded goods that are returned, excess, or open-box still have value, and someone needs to connect them to buyers who want genuine products at lower prices. Founded in 2002 and operating since 2005, the company was pioneered by a founder who later helped Amazon and Flipkart build their own refurbished-device segments - essentially creating the playbook for organized recommerce in India. Everything the company does flows from one recurring approach: it buys inventory that brands need to clear - at steep discounts - grades and refurbishes it through its own classification centre, and sells it across multiple channels without undercutting the brand’s main distribution.

Business segments

A single engine with three reinforcing layers - bulk trading of excess and refurbished inventory across 18 categories, a barter desk that swaps goods for advertising, and an e-waste recycling operation under construction - all feeding the same core promise of extending product lifecycles.

1. Excess-inventory trading: the core engine that buys what brands cannot sell at full price

The company acquires overstock, returns, open-box and pre-owned branded goods directly from manufacturers and e-commerce platforms at discounts of 15 to 40 percent, then grades, warranties and resells them - it is a margin business built on trust, not a technology platform.

Sourced directly from the brand, not the grey market - inventory comes from over 30 brand partners including Whirlpool, Puma, Godrej, Skechers, Dyson, Livpure and FabIndia, plus e-commerce returns, giving buyers confidence that products are genuine and traceable. The company is FabIndia’s only partner for clearing excess inventory, a role the brand chose over opening its own factory outlets.
Graded and refurbished in-house - a dedicated Classification Centre with skilled technicians sorts every product into five grades, from “Like New” (99-100 percent condition, original packaging, manufacturer warranty) down to “Non Functional” (marked for parts or recycling), with all grades except the last representing working products. Refurbished items carry a 12-month warranty, compared to zero warranty from unorganized competitors, which is how the company justifies its defined pricing.
Sold through a hybrid B2B-B2C network - historically 80 percent of sales went to retailers, distributors and corporations, but the company is opening company-owned and franchise stores to shift toward 80 percent B2C, with 24 retail locations already operating across North and North-East India, including three stores in Mizoram and a warehouse-cum-retail store in Guwahati. It also sells through commission agents, business partners and its own e-commerce platform, having served over 4,000 customers and moved more than five million products.
Inventory that resists downturns - the sourcing model benefits whether consumer demand is high or low: strong sales generate more returns and seconds inventory, while weak sales leave brands with more excess stock available at better prices, so the pipeline stays full either way. Write-offs are kept below 1 percent through strategic liquidation events like garden sales and exhibitions.

2. Barter exchange: swapping goods for advertising without spending cash

The company trades its inventory directly for television, radio, digital and print advertising space - turning unsold products into media exposure while preserving cash and locking in sales.

Goods become ad budgets - with over a decade of corporate barter experience, the company provides products to media owners in exchange for advertising inventory, reducing the cash it would otherwise spend on marketing. This creates confirmed sales on the product side while the advertising itself can drive further customer traffic.
A margin layer, not a separate business - the barter desk is described as a source of “great margins and great profitability,” contributing to overall company performance rather than operating as a standalone profit centre. It works because the company already holds the inventory; barter simply changes what it receives in return.

3. E-waste management and recycling: the end-of-life promise under construction

The company is building a dedicated recycling plant in Rajasthan to handle end-of-life electronics - closing the loop on the circular-economy story and creating a new revenue stream from recovered materials.

A plot in an industrial recovery park - in March 2025, the company won a bid for a 5,000-square-metre plot in Rajasthan’s first Integrated Resource Recovery Park, a 44-hectare zone designed for special-category waste processing. The planned unit will recycle discarded electrical and electronic equipment under India’s E-Waste (Management) Rules, 2022.
Services already offered - even before the plant is built, the company provides e-waste collection, segregation, secure data destruction and environmentally friendly disposal, along with Extended Producer Responsibility compliance solutions for manufacturers. Recovered materials from recycling represent a potential revenue stream once the facility is operational.

Group structure and partners

The company operates through two wholly owned subsidiaries - one for quick-commerce distribution in India and one for Middle East expansion - while maintaining a non-compete arrangement with a promoter-group retail entity that shares the same brand name.

Sustainquest Private Limited - incorporated in September 2024 as a wholly owned subsidiary, SQPL acts as an Alpha Seller on quick-commerce platforms Blinkit, Zepto and Flipkart, buying inventory from brands like Jivo and supplying it for rapid delivery. Commercial operations began in June 2025.
Rocking Deals General Trading LLC - incorporated in Dubai in October 2024, this subsidiary is the authorized trading partner for Eureka Forbes in the GCC region and has signed a strategic agreement with Amazon UAE to manage and redistribute near-expiry inventory with less than 30 percent shelf life remaining. In February 2026, it partnered with GRENEW FZE of Sharjah to source and supply e-waste and surplus inventory for recycling, with profits shared equally and no upfront consideration paid - GRENEW already operates a 10,000-square-metre facility capable of processing up to 50,000 metric tons of waste per year.
Rockingdeals Private Limited - a separate promoter-group company that runs retail stores under the same “Rockingdeals” brand name, governed by a non-compete agreement: RDPL sources most of its inventory from RDCEL and focuses on retail, while RDCEL handles the B2B market, ensuring the two entities do not conflict. The company has also pledged its property as collateral for RDPL’s credit facilities of Rs 495 lakhs.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹182Cr

Close Price

₹219.00

Industry

Trading

Price To Earnings

14.43

Price To Sales

1.52

Revenue

₹120Cr

Rev Gr TTM

Revenue Growth TTM

116.20%

PAT Gr TTM

PAT Growth TTM

89.70%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
Revenue RevenueCr	16	34	21	34	55	65
Growth YoY Revenue Growth YoY%			36.8	0.3	157.7	90.2
Expenses ExpensesCr	13	29	16	29	46	57
Operating Profit Operating ProfitCr	2	5	5	5	9	8
OPM OPM%	14.5	15.5	24.3	15.3	15.7	11.8
Other Income Other IncomeCr	0	0	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	1	1
Depreciation DepreciationCr	0	0	1	2	1	1
PBT PBTCr	2	5	5	5	8	7
Tax TaxCr	1	1	1	1	2	1
PAT PATCr	1	4	3	2	5	5
Growth YoY PAT Growth YoY%			122.2	-43.2	57.5	127.6
NPM NPM%	9.2	11.1	15.0	6.3	9.2	7.5
EPS EPS₹	0.0	6.4	5.7	3.8	7.8	7.4

Quarter	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
Revenue RevenueCr	16	34	21	34	55	65
Growth YoY Revenue Growth YoY%			36.8	0.3	157.7	90.2
Expenses ExpensesCr	13	29	16	29	46	57
Operating Profit Operating ProfitCr	2	5	5	5	9	8
OPM OPM%	14.5	15.5	24.3	15.3	15.7	11.8
Other Income Other IncomeCr	0	0	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	0	0	1	1
Depreciation DepreciationCr	0	0	1	2	1	1
PBT PBTCr	2	5	5	5	8	7
Tax TaxCr	1	1	1	1	2	1
PAT PATCr	1	4	3	2	5	5
Growth YoY PAT Growth YoY%			122.2	-43.2	57.5	127.6
NPM NPM%	9.2	11.1	15.0	6.3	9.2	7.5
EPS EPS₹	0.0	6.4	5.7	3.8	7.8	7.4

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue RevenueCr	15	50	55	120
Growth Revenue Growth%		230.2	11.9	116.2
Expenses ExpensesCr	13	42	45	104
Operating Profit Operating ProfitCr	2	8	10	16
OPM OPM%	16.5	15.2	18.8	13.6
Other Income Other IncomeCr	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	1	1
Depreciation DepreciationCr	0	0	3	3
PBT PBTCr	2	7	7	13
Tax TaxCr	1	2	2	3
PAT PATCr	1	5	5	10
Growth PAT Growth%		259.1	2.5	89.7
NPM NPM%	9.7	10.5	9.6	8.4
EPS EPS₹		10.2	9.4	16.6

Financial Year	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue RevenueCr	15	50	55	120
Growth Revenue Growth%		230.2	11.9	116.2
Expenses ExpensesCr	13	42	45	104
Operating Profit Operating ProfitCr	2	8	10	16
OPM OPM%	16.5	15.2	18.8	13.6
Other Income Other IncomeCr	0	0	0	0
Interest Expense Interest ExpenseCr	0	0	1	1
Depreciation DepreciationCr	0	0	3	3
PBT PBTCr	2	7	7	13
Tax TaxCr	1	2	2	3
PAT PATCr	1	5	5	10
Growth PAT Growth%		259.1	2.5	89.7
NPM NPM%	9.7	10.5	9.6	8.4
EPS EPS₹		10.2	9.4	16.6

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	6	6	7
Reserves ReservesCr	29	35	64
Current Liabilities Current LiabilitiesCr	5	14	26
Non Current Liabilities Non Current LiabilitiesCr	0	0	1
Total Liabilities Total LiabilitiesCr	40	54	99
Current Assets Current AssetsCr	34	39	84
Non Current Assets Non Current AssetsCr	6	15	14
Total Assets Total AssetsCr	40	54	99

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	6	6	7
Reserves ReservesCr	29	35	64
Current Liabilities Current LiabilitiesCr	5	14	26
Non Current Liabilities Non Current LiabilitiesCr	0	0	1
Total Liabilities Total LiabilitiesCr	40	54	99
Current Assets Current AssetsCr	34	39	84
Non Current Assets Non Current AssetsCr	6	15	14
Total Assets Total AssetsCr	40	54	99

Consolidated

Standalone

Financial Year	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	0	-15	3	-21
Investing Cash Flow Investing Cash FlowCr	0	-2	-11	-2
Financing Cash Flow Financing Cash FlowCr	-1	19	7	28
Net Cash Flow Net Cash FlowCr	0	2	-1	4
Free Cash Flow Free Cash FlowCr		-17	-7	-25
CFO To PAT CFO To PAT%	29.0	-294.5	56.2	-211.6
CFO To EBITDA CFO To EBITDA%	17.0	-204.0	28.8	-131.6

Financial Year	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	0	-15	3	-21
Investing Cash Flow Investing Cash FlowCr	0	-2	-11	-2
Financing Cash Flow Financing Cash FlowCr	-1	19	7	28
Net Cash Flow Net Cash FlowCr	0	2	-1	4
Free Cash Flow Free Cash FlowCr		-17	-7	-25
CFO To PAT CFO To PAT%	29.0	-294.5	56.2	-211.6
CFO To EBITDA CFO To EBITDA%	17.0	-204.0	28.8	-131.6

Consolidated

Standalone

Financial Year	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr		207	130	108	182
Price To Earnings Price To Earnings		39.7	24.4	9.0	14.4
Price To Sales Price To Sales		4.2	2.3	0.9	1.5
Price To Book Price To Book		5.9	3.2	1.3	2.5
EV To EBITDA EV To EBITDA		27.3	13.1	7.3	12.2
Profitability Ratios Profitability Ratios
GPM GPM%		20.7	31.7	22.0	22.0
OPM OPM%	16.5	15.2	18.8	13.6	13.6
NPM NPM%	9.7	10.5	9.6	8.4	8.4
ROCE ROCE%		21.5	16.6	15.9	15.9
ROE ROE%		14.9	13.2	14.2	14.2
ROA ROA%		13.0	9.9	10.3	10.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr		207	130	108	182
Price To Earnings Price To Earnings		39.7	24.4	9.0	14.4
Price To Sales Price To Sales		4.2	2.3	0.9	1.5
Price To Book Price To Book		5.9	3.2	1.3	2.5
EV To EBITDA EV To EBITDA		27.3	13.1	7.3	12.2
Profitability Ratios Profitability Ratios
GPM GPM%		20.7	31.7	22.0	22.0
OPM OPM%	16.5	15.2	18.8	13.6	13.6
NPM NPM%	9.7	10.5	9.6	8.4	8.4
ROCE ROCE%		21.5	16.6	15.9	15.9
ROE ROE%		14.9	13.2	14.2	14.2
ROA ROA%		13.0	9.9	10.3	10.3
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	TAINWALCHM	JUJHARLOGI	NOVELIX	ROCKINGDCE	RAMAVISION	AMRAPLIN	SPCENET
Market CapitalizationMkt CapCr	185	184	183	182	181	181	180
Close PriceClose₹	197.04	198.90	64.13	219.00	173.55	35.11	3.17
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	23.05	13.71	34.29	14.43	25.98	11.33	7.04
Price To SalesPS	10.38	1.53	1.24	1.52	1.03	0.00	0.95
RevenueRevenueCr	18	120	147	120	176	52,101	190
Revenue Growth TTMRev Gr TTM%	11.9%	606.5%	179.9%	116.2%	45.6%	89.7%	8.1%
PAT Growth TTMPAT Gr TTM%	15.4%	1,228.6%	535.1%	89.7%	160.4%	818.5%	96.3%

	TAINWALCHM	JUJHARLOGI	NOVELIX	ROCKINGDCE	RAMAVISION	AMRAPLIN	SPCENET
Market CapitalizationMkt CapCr	185	184	183	182	181	181	180
Close PriceClose₹	197.04	198.90	64.13	219.00	173.55	35.11	3.17
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	23.05	13.71	34.29	14.43	25.98	11.33	7.04
Price To SalesPS	10.38	1.53	1.24	1.52	1.03	0.00	0.95
RevenueRevenueCr	18	120	147	120	176	52,101	190
Revenue Growth TTMRev Gr TTM%	11.9%	606.5%	179.9%	116.2%	45.6%	89.7%	8.1%
PAT Growth TTMPAT Gr TTM%	15.4%	1,228.6%	535.1%	89.7%	160.4%	818.5%	96.3%