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Antony Waste Handling Cell Ltd

₹ 4991.74%
06 Jan – close price
🔗antony-waste.com•BSE: 543254•NSE: AWHCL
Market Cap₹ 1,416 Cr.
Current Price₹ 499
High / Low₹ 693
Stock P/Enull
Book Value₹ 83.7
Dividend Yield0.00 %
ROCE1.94 %
ROE0.76 %
Face Value₹ 5.00
Sales₹ 34.3 Cr.
OPM-14.2 %
Mar Cap₹ 1,416 Cr.

ABOUT

Antony Waste Handling Cell Ltd is engaged in the business of mechanical power sweeping of roads, collection and transportation of waste, waste to energy project and undertake the designing, construction, operation and maintenance of the integrated waste management facility in Kanjurmarg, Mumbai.[1]It is one of the top five players in the Indian municipal waste management industry with a track record of ~20 years.[2]

KEY POINTS

Business ProfileThe company is a leader in India’s Municipal Solid Waste (MSW) management sector. It offers a range of MSW services, including the collection & transportation (C&T), processing, and disposal of solid waste, to Indian municipal corporations.[1]

Also present in buckets:
Aggressive Growth TriggersAggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsOrder Book PositionOrder Book PositionLarge Order ReceiptsLarge Order ReceiptsJv Partnerships AcquisitionsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.EMS416.3014.162311.750.3628.14-43.12172.47-26.1326.91926.4924.41163.2228.242.2217.210.16
2.Antony Waste han498.85–1416.030.000.25-83.778.52-8.491.9434.31-14.25-0.070.255.960.610.08
3.Eco Recyc.503.8547.43972.270.005.60-28.6414.4212.0436.8243.3559.5820.505.739.6023.120.07
4.Concord Enviro462.0018.29956.170.004.49-71.95124.85-22.8815.04557.0512.2052.295.311.746.980.30
5.Z-Tech (India)647.8039.74928.310.006.06102.0034.5081.2028.12114.1128.6023.366.065.1615.670.02
6.Effwa Infra221.5020.11512.710.0010.14113.0390.2148.2333.87214.4717.7825.4910.144.8817.520.14
7.Namo eWaste189.3542.83433.000.006.9930.9087.3230.6619.08170.3210.3810.116.994.5210.450.06
–Median: 14 Co.205.4320.11401.180.05.834.3977.8430.6623.31142.7417.6516.115.893.2812.270.23

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
13.9712.598.5816.658.828.7512.5311.678.4614.5215.189.318.52
Expenses
13.4210.5910.1314.087.819.5810.6910.149.3911.0312.608.1210.10
Operating Profit
0.552.00-1.552.571.01-0.831.841.53-0.933.492.581.19-1.58
Other Income
2.410.602.330.470.962.714.261.1326.222.960.452.193.54
Profit before tax
1.851.32-0.541.900.350.782.870.2123.944.702.152.000.96
Tax %
37.30%3.03%5.56%-3.68%25.71%76.92%12.54%-628.57%4.18%26.81%30.23%23.00%73.96%
Net Profit
1.151.29-0.561.970.270.182.511.5422.943.451.501.540.25
EPS in Rs
0.410.45-0.200.700.100.060.890.548.081.220.530.540.09

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
4050535957545555533534
Expenses
3436384646394146463439
Operating Profit
71415131115141072-5
Other Income
3958-156161543035
Interest
76887544432
Depreciation
33432224232
Profit before tax
-113810-1415241762625
Net Profit
-113810-1414191362423
EPS in Rs
-8.64102.9463.936.75-5.314.926.564.502.228.528.03
Dividend Payout %
0%0%0%0%0%0%0%0%0%0%–

Compounded Profit Growth

10 Years:%
5 Years:-16%
3 Years:-55%
TTM:-102%

Compounded Sales Growth

10 Years:%
5 Years:-9%
3 Years:-14%
TTM:-19%

Return on Equity

10 Years:%
5 Years:6%
3 Years:3%
Last Year:1%

Stock Price CAGR

10 Years:%
5 Years:6%
3 Years:18%
1 Year:-18%

Balance Sheet

Standalone figures in ₹ crores

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
111713141414141414
Reserves
-74-66526565156175189198223223
Borrowings
178176595437323127402119
Other Liabilities
1822212429343630252524
Total Liabilities
124134134150143236256260276282280
Fixed Assets
141514129753272525
Gross Block
27.6631.7121.2321.2721.4021.5321.5519.8345.7943.24–
Accumulated Depreciation
14.0217.106.809.7712.1314.3416.2216.8618.3418.60–
CWIP
03000003221
Investments
3636363636767676777979
Other Assets
74808310398153175178170177176
Total Assets
124134134150143236256260276282280

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
––––11-312-61158
Cash from Investing Activity
––––-0-38317-14-12
Cash from Financing Activity
––––-1171-5-711-22
Net Cash Flow
––––02-04825

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
386403291102173241320322391481
Inventory Days
––––––––––
Days Payable
––––––––––
Cash Conversion Cycle
386403291102173241320322391481
Working Capital Days
32173-25-27867485599594298319
ROCE %
–18%15%15%9%12%13%10%4%2%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
46.23%46.23%46.23%46.23%46.07%46.07%46.07%46.07%46.08%46.08%46.08%46.08%
FIIs
12.54%11.97%13.14%13.77%12.39%11.94%10.79%11.36%10.46%10.99%13.09%12.81%
DIIs
6.31%6.13%6.10%6.10%6.08%6.61%5.14%4.01%4.42%4.70%3.68%3.68%
Public
34.93%35.68%34.54%33.89%35.26%35.29%37.93%38.49%38.98%38.17%37.09%37.38%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Antony Waste Handling Cell Ltd Files SEBI Compliance Certificate for Q4FY26; RTA Confirms No Dematerialization Requests

15th April 2026, 8:41 pm

Antony Waste Reports Strong FY26 Performance, Secures Major WtE Investment from JFE Engineering

15th April 2026, 6:45 pm

Antony Waste subsidiary inks deal with Japan's JFE for ¥750 Million investment in WTE projects

8th April 2026, 4:59 pm

Antony Waste Handling Cell to Close Trading Window from April 1, 2026

30th March 2026, 6:12 pm

Antony Waste Handling Cell Limited: Q3 FY26 Earnings Call Transcript Highlights Strong Contract Wins and Future Growth Drivers

9th February 2026, 6:07 pm

Published by Other Websites

External media mentions & references

Indian Markets Retreat: Nifty Dips Below 23,800 on Financials Drag

9th April 2026, 4:40 pm

JFE Backs India Waste Projects, But High Debt Sparks Concern

8th April 2026, 8:45 pm

Japan's JFE Engineering Buys 25% Stake in Indian Waste-to-Energy Projects

8th April 2026, 4:21 pm

Antony Waste Shares Jump on ₹44 Cr JFE Green Project Deal

8th April 2026, 12:48 pm

Major Firms Reveal Q3 Results Jan 30: NTPC, BoB, Bajaj Auto Estimates

29th January 2026, 11:38 pm

News Articles

Editorial & research coverage

Institutional Trades Reshape Portfolios on Jan 27
Institutional Trades Reshape Portfolios on Jan 27

27th January 2026, 9:17 pm

Market Movers: Banks Mixed, Industrials Surge, Pharma Faces Scrutiny
Market Movers: Banks Mixed, Industrials Surge, Pharma Faces Scrutiny

27th January 2026, 7:08 am

Indian Markets Dive; 3 Stocks Show Resilience with Breakouts
Indian Markets Dive; 3 Stocks Show Resilience with Breakouts

24th January 2026, 5:24 pm

RIL, Banks Post Q3 Results; Tech Stocks Show Mixed Fortunes
RIL, Banks Post Q3 Results; Tech Stocks Show Mixed Fortunes

19th January 2026, 7:09 am

Flat Finish: Sensex, Nifty Stall as IT Sector Drags Market Down!
Flat Finish: Sensex, Nifty Stall as IT Sector Drags Market Down!

23rd December 2025, 4:29 pm

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

15h - Certificate under Regulation 74(5) of SEBI (DP) Regulations, 2018, for the quarter ended December 31, 2025.

Announcement under Regulation 30 (LODR)-Acquisition

30 Dec - Mumbai Eco incorporated Dec 30, 2025; Antony gains 51% via ₹51,000 subscription to run two BMC collection projects.

Closure of Trading Window

26 Dec - Trading window closed Jan 1, 2026 until 48 hours after unaudited Q3/9M Dec 31, 2025 results disclosure.

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

22 Dec - Subsidiary won 10-year DBOT 600–800 TPD MSW plant contract from TMC; ~₹330 crore value; ₹67 crore capex.

Update On Scheme Of Merger With Wholly Owned Subsidiary

18 Dec - NCLT approved merger of AG Enviro into Antony Waste; appointed date April 1, 2025; order dated Dec 18, 2025.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Credit Ratings

Rating update

3 Apr 2025 from care

Rating update

29 Mar 2024 from care

Rating update

7 Apr 2022 from care

Rating update

23 Feb 2021 from care

Rating update

23 Feb 2021 from care

Rating update

23 Jul 2020 from care

Concalls

Nov 2025

TranscriptPPTRecording

Aug 2025

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Jun 2025

TranscriptPPTRecording

Feb 2025

TranscriptPPTRecording

Nov 2024

TranscriptPPTRecording

Aug 2024

TranscriptPPT

Jun 2024

TranscriptPPT

Apr 2024

Recording

Feb 2024

TranscriptPPT

Feb 2024

PPT

Nov 2023

TranscriptPPT

Aug 2023

TranscriptPPTRecording

May 2023

TranscriptPPT

Feb 2023

TranscriptPPT

Nov 2022

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Aug 2022

TranscriptPPT

Jun 2022

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Feb 2022

TranscriptPPT

Nov 2021

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Sep 2021

Transcript

Aug 2021

TranscriptPPT

Jul 2021

TranscriptPPT

Feb 2021

TranscriptPPT

Stock Analysis

Description

  1. Antony Waste Handling Cell Ltd is a leading player in India's municipal solid waste management sector, offering services like collection, transportation, and processing of waste to municipal corporations.

Key Growth Triggers

  1. Secured two major MSW C&T contracts from BMC in Mumbai with an estimated revenue potential of ~₹1,330 crore over seven years, expanding operations to seven wards.
  2. Won a 10-year DBOT concession from Thane Municipal Corporation for a 600-800 TPD MSW pre-processing facility, valued at ~₹329.45 crore, with ~₹67 crore capex.
  3. Completion of the merger with AG Enviro Infra Projects Private Limited is expected to drive economies of scale, operational efficiencies, and improved cash flow management.
  4. Strong operational momentum observed with ~19% YoY growth in total MSW tonnage managed in Q3 FY26 (~1.42 MT), and increased RDF sales by 29% YoY in 9M FY26.

Order Book

  1. New contracts in Mumbai (₹1,330 crore) and Thane (₹330 crore) significantly bolster the company's order book, contributing to long-term revenue visibility and annuity-like income.

Key Red Flags

  1. Currently no specific red flags are highlighted in this business update.

Key Dates To Watch

  1. The company is expected to announce its Q4 FY26 financial results and provide further strategic updates in the upcoming quarter.

Corporate Announcements

15th Apr 26
Impact Rating: 6
Antony Waste Handling Cell Ltd filed its SEBI (Depositories and Participants) Regulations, 2018 certificate for the quarter ended March 31, 2026. The RTA confirmed no dematerialization requests were received as all shares are held in demat form.
15th Apr 26
Impact Rating: 9
Antony Waste reported 13% revenue growth for FY26, alongside operational improvements. A key highlight is the strategic investment from JFE Engineering for its waste-to-energy ventures in Andhra Pradesh.
8th Apr 26
Impact Rating: 7
Antony Waste Handling Cell Limited's subsidiary, Antony Lara, signed agreements with JFE Engineering Corporation, Japan, for an investment exceeding ¥ 750 Million. This will bring JFE a 25% stake in two Waste-to-Energy SPVs.
30th Mar 26
Impact Rating: 4
Antony Waste Handling Cell Ltd has announced a trading window closure for designated persons and relatives, effective April 1, 2026. It will reopen 48 hours post the disclosure of Q4/FY26 audited financial results.
9th Feb 26
Impact Rating: 9
Antony Waste Handling's Q3 FY26 call: Rs. 240 Cr revenue (9% YoY), Rs. 1,330 Cr BMC order, Rs. 67 Cr Thane project, and 20% CAGR growth target.