Antony Waste Handling Cell Limited is an India-based company engaged in the business of mechanical power sweeping of roads and collection and transportation of waste. The Company is also involved in waste-to-energy projects and undertakes the designing, construction, operation, and maintenance of the integrated waste management facility in Kanjurmarg, Mumbai. It stands as one of the top five players in the Indian municipal waste management industry with an established track record of approximately 20 years.
Antony Waste Handling Cell Limited was founded in 2000 and is based in Thane, India. The company was incorporated on January 17, 2001, and is part of the 'Antony' Group, which has diversified business interests, including in the automotive body-building and ancillary industries.
The company operates as a comprehensive waste management solutions provider with a primary focus on municipal solid waste (MSW) management. As a leader in India's MSW management sector, it offers a range of services, including the collection & transportation (C&T), processing, and disposal of solid waste, to Indian municipal corporations.
The Company operates through its integrated waste management services segment. Its service portfolio includes waste collection and transportation, MSW processing, mechanized and non-mechanized sweeping projects, scrap/recyclables sales, and waste-to-energy solutions. It primarily undertakes MSW collection & transport (C&T) projects, MSW processing projects, and mechanized sweeping projects. The Company is currently undertaking projects for the Municipal Corporation of Greater Mumbai, The Navi Mumbai Municipal Corporation, The Thane Municipal Corporation, and The North Delhi Municipal Corporation, among others.
AWHCL services over 23 municipalities across 9 states and has handled 19.6 million tonnes (MMT) of waste since inception. The company operates Asia's largest single-location waste processing plant at Kanjurmarg and Maharashtra's first integrated waste-to-energy project at PCMC.
Antony Waste Handling Cell Limited is recognized as one of the top five players in the Indian Municipal Solid Waste (MSW) management industry, boasting an established track record of 17 years. The company provides a full spectrum of MSW services, including solid waste collection, transportation, processing, and disposal services across the country, primarily catering to Indian municipalities. It is among the select few companies that have pioneered in the MSW collection and transportation sector and is also a key player in landfill construction and management, with in-house expertise for landfill construction and its subsequent management.
Antony Waste Handling provides comprehensive waste management services, including solid waste collection, transportation, and processing. With operations spread across India, it offers eco-friendly solutions for urban sanitation, waste-to-energy projects, and recycling initiatives, contributing to sustainable waste management.
The company's financial performance demonstrates strong operational growth, particularly in recent quarters.
- Net Profit: Rose 45.45% to ₹40.00 crore in Q4 FY25, compared to ₹27.50 crore in Q4 FY24.
- Sales: Increased 15.51% to ₹242.66 crore in Q4 FY25, from ₹210.08 crore in Q4 FY24.
- Operating Revenue: Grew 14% to ₹223 crores in Q4 FY25.
- PAT (Profit After Tax): Reached ₹46 crores in Q4 FY25, a 53% year-on-year growth.
- Net Profit: Declined marginally by 0.99% to ₹85.36 crore in FY25, from ₹86.21 crore in FY24.
- Sales: Rose 7.14% to ₹933.61 crore in FY25, from ₹871.41 crore in FY24.
- Operating Revenue: ₹842 crores, a 10% increase over FY24.
- EBITDA: ₹220 crores, a 9% year-on-year growth with a margin of 23%.
- PAT (Profit After Tax): ₹101 crores, a marginal growth of 1%.
- Extraordinary Gain: ₹23.9 crores from arbitration proceedings.
- Market Capitalization: ₹1,922 Crore
- Current Price: ₹677
- High / Low (52-week): ₹902 / ₹460
- Stock P/E: 27.6
- Book Value: ₹232
- Dividend Yield: 0.00 %
- ROCE (Return on Capital Employed): 12.1 %
- ROE (Return on Equity): 11.3 %
- Face Value: ₹5.00
- Net Debt: ₹341 crores with a net debt to equity ratio of 0.4 times.
- Cash Flow from Operations: Improved by 34% year-on-year to ₹187 crores.
AWHCL continues to build on its cluster-based strategy for MSW projects, with a strong focus on waste-to-energy (WtE), segregation, and bio-mining. The company has reaffirmed its leadership through the successful operation of Asia's largest single-location waste processing plant at Kanjurmarg and Maharashtra's first integrated WtE project at PCMC, which achieved 90% PLF (Plant Load Factor) during the period.
- Order Book Position: Approximately ₹8,300 crores, reinforcing confidence in achieving long-term strategic objectives.
- Growth Projections: The company projects a compound annual growth rate (CAGR) of 25% over the next 3-5 years, bolstered by new initiatives and a strategic shift towards growth.
- New Opportunities: Actively pursuing new opportunities, including waste-to-energy projects. The company has submitted two WtE tenders in South India and one in the western part of the country, with three more WtE projects in development. In the collection and transportation segment, work is underway on the Mumbai C&T tenders and a package in South India.
Antony Waste Handling Cell Limited demonstrates a strong commitment to environmental sustainability through its operations and initiatives:
- Waste Managed (FY25): Approximately 1.36 million tonnes.
- Refuse-Derived Fuel (RDF) Sold (Q4): Approximately 45,200 tonnes.
- Green Power Generation (PCMC WtE Plant in Q4): Over 27 million green units.
- CO₂ Emissions Avoided (Q4): Approximately 2,629 tonnes.
The company's waste-to-energy facility at PCMC achieved an impressive plant load factor of approximately 82%, highlighting its reliability and effectiveness. The construction and demolition waste recycling initiative set a new industry benchmark with a 96% recycling rate.
Antony Waste Handling Cell Ltd is uniquely positioned to benefit from the increasing formalization and privatization of India's MSW ecosystem, further bolstered by a rising regulatory focus on sustainability. The company remains a resilient, ESG-centric waste management leader, well-positioned to capitalize on India's burgeoning circular economy and environmental sustainability goals.
