Antony Waste Kicked Off FY2025 With Strong Growth in Q1

On July 15, 2024, Antony Waste Handling Cell Limited (AWHCL) released its business update for the quarter ended June 30 2024 (Q1 FY2025). The AWHCL commenced FY 2025 with another quarter of robust financial performance, driven by exceptional results in the Collection and Disposal business and a successful ramp-up at the Waste to Energy plant in Pimpri.

Growing Plant Load Factor

For the quarter ending June 30, 2024, the team has built on a solid foundation, achieving approximately 11% year-on-year growth in core revenues. The Waste to Energy facility in Pimpri reached an impressive Plant Load Factor (PLF) of around 89% this quarter, up from 71% during its first full operational quarter in Q4 FY2024—marking a significant achievement.

In the first quarter, the company processed about 1.18 million tonnes of waste, reflecting a 6% year-on-year increase, after adjusting for the completion of the Mangalore C&T project and the GNIDA Biomining project last year. Within the C&T business segment for Q1 FY25, the company managed approximately 0.47 million tonnes, showing a growth of about 4% compared to the same period last year. Additionally, the Waste Processing division handled around 0.71 million tonnes.

Operational Highlights

Total Core Operating Revenue, which includes tipping revenue from C&T and Waste Processing, as well as revenue from power sales, saw an impressive 11% increase in Q1 FY25 compared to the previous year. This growth is attributed to rising tipping fees and increased revenues from fixed shifts, trips, and household fees. The company is also beginning to see steady contributions from its new C&T project in Panvel and power sweeping initiatives in Nagpur and PCMC, along with revenue from its Waste to Energy project.

The company’s momentum remains strong, reporting solid circular economy metrics with Refuse Derived Fuel (RDF) sales reaching about 34,000 tonnes in Q1 FY25, a 23% increase from the same period last year. This ability to repurpose inorganic fractions from municipal solid waste into RDF supports the company’s commitment to sustainable practices and helps cement companies meet their alternative fuel requirements.

In addition, compost sales for Q1 FY25 totalled approximately 6,000 tonnes, compared to 2,800 tonnes sold in the same period last year.

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