Antony Waste Handling Cell Ltd FY26 Results

Antony Waste Handling Cell Ltd's total revenue for FY26 reached ₹1,084.1 crore, marking a 13% increase from ₹958.8 crore in FY25. The company managed approximately 5.69 Million Metric Tonnes (MMT) of waste during the fiscal year.

Reader Takeaway: Steady revenue growth with operational profit rise, but net profit decline due to one-off FY25 gain.

What just happened

Antony Waste Handling Cell Ltd announced its financial results for the fiscal year ending March 31, 2026 (FY26). Total revenue grew by 13% to ₹1,084.1 crore from ₹958.8 crore in FY25. EBITDA saw a 7% increase to ₹236.3 crore from ₹220.2 crore in the prior year. However, Profit After Tax (PAT) attributable to owners decreased by 12% to ₹75.5 crore, down from ₹85.4 crore in FY25.

Why this matters

The revenue growth indicates successful expansion in waste collection, transportation, and processing services. The decline in net profit, however, requires a closer look. It was primarily due to FY25 including an exceptional income of ₹23.9 crore from an arbitration settlement, which was not present in FY26. This normalization explains the apparent drop in net profit and earnings per share (EPS), which fell 12% to ₹26.6.

The backstory

Antony Waste Handling Cell Ltd is a key player in the Indian waste management sector. The company operates on a cluster-based model, focusing on long-term contracts. Its operations span waste collection and transportation (C&T) and waste processing, including waste-to-energy projects.

What changes now

The company is poised to continue its growth trajectory, supported by ongoing projects across 30 sites. The stable outlook is further reinforced by its healthy Net Debt-to-Equity ratio of 0.3x as of Q4FY26, indicating prudent financial management. Average contract durations, 7.7 years for C&T and 23 years for processing, provide revenue visibility.

Risks to watch

Investors should monitor the company's ability to maintain its profit margins amidst rational bidding practices. Successful execution of its numerous ongoing projects is also crucial for sustaining growth.

Peer comparison

While direct financial comparisons require specific data, Antony Waste's performance in revenue growth and operational scale in waste management services places it as a significant entity within its niche. The sector is growing due to increasing urbanization and stricter environmental regulations.

Context metrics (time-bound)

• Total Revenue FY26: ₹1,084.1 crore (+13% YoY)
• EBITDA FY26: ₹236.3 crore (+7% YoY)
• PAT FY26: ₹75.5 crore (-12% YoY)
• Net Debt/Equity: 0.3x (as of Q4FY26)
• Waste Managed: ~5.69 MMT annually
• PCMC WtE Plant PLF: 83% in Q4FY26

What to track next

Focus on the company's ability to translate its expanded operational capacity and revenue growth into improved net profitability. Keep an eye on new contract wins and the successful commissioning of ongoing projects.