Antony Waste Handling Shares Tumbled 10%: Released Q2 FY25 Results

Antony Waste Handling Cell Limited (AWHCL), a leading player in the Indian Municipal Solid Waste Management Industry, has announced its financial results for the quarter (Q2 FY25) and half year (1H FY25) ended September 30, 2024.

Q2 FY25 Financial Highlights

For Q2 FY25, AWHCL reported a total operating revenue of ₹200 crore. The company achieved an EBITDA of ₹49 crore, with EBITDA margins standing at 21%. Additionally, the sales of Refuse Derived Fuel (RDF) during Q2 FY25 grew by 5%, reaching approximately 30,500 tonnes, showing a steady increase from the previous year’s 29,000 tonnes.

Strategic Investments and Milestones

During 1H FY25, AWHCL made significant investments in its Collection & Transportation (C&T) business, ensuring improved performance across its ongoing projects. One of the key milestones for the company was the successful completion of the first anniversary of its Waste-to-Energy (WtE) facility, which achieved an impressive 71% Plant Load Factor (PLF).

Expansion and Future Outlook

In addition to the WtE milestone, the company secured the Navi Mumbai C&T business in the last quarter, reinforcing its strong track record in winning re-tendered contracts. The commencement of operations at AWHCL’s Construction & Demolition (C&D) waste site and the anticipated ramp-up of biomining activities at the CIDCO project further underscores the company’s commitment to long-term sustainability and financial growth.

Commenting on the results, Jose Jacob, Chairman & Managing Director of Antony Waste Handling Cell Limited, said, ” For Q2FY25, we report a stable quarter with operating revenue of ₹200 crore. On a YOY basis, this appears soft, mainly due to the absence of a one-time lumpsum receipt of the escalation amount in the year-ago period. Adjusted for this one-off, and project roll-offs, our core operating revenue has improved by 6% YOY. The H1 2025 EBITDA margin stands at 22.6%, and we believe we are improving on the same with our recent investments. These results demonstrate our dedication to long-term cost optimization, operational excellence, and delivering substantial value to our stakeholders.” 

Adding to this, Jose Jacob stated, “During the quarter, the PCMC Waste-to-Energy (WtE) plant successfully completed its scheduled maintenance during the quarter. Since its commissioning on October 7, 2023, the plant has maintained a Plant Load Factor (PLF) of 71%. Additionally, the Company has during the quarter and subsequently, received ₹ 45 crore of the capital grant, and the same has been applied towards debt reduction. Also, the Company’s Wholly owned subsidiary, AG Enviro Infra Projects Private Limited achieved a significant milestone by successfully securing ~₹ 976 Crore Collection and Transportation (C&T) contract from the Navi Mumbai Municipal Corporation for the third consecutive term. 

On November 11, 2024, Antony Waste Handling shares opened at ₹713.50 and touched the day low of ₹712.70 at 09:40 AM, reflecting a fall of 10% from the previous close.

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