Antony Waste Handling Cell Limited (AWHCL) — Financial Results

Investor Takeaways

Overall Tone: Neutral

Key Financial Highlights

What Changed

The filing highlights a 20% YoY increase in adjusted PAT to ₹92 crores, driven by operational efficiency and cash flow management. Revenue growth of 15% YoY to ₹920 crores reflects expanding waste-to-energy and EPR project execution. The company strengthened its balance sheet with a net debt to equity ratio of 0.3x, indicating low leverage. A record order book of Rs.18,000 crores provides visibility into future revenue streams, with 40% slated for execution over 5–7 years. Management announced a capex plan of ₹750 crores for FY27–FY28, focused on sustainable growth through strategic waste management infrastructure. The maiden dividend of ₹0.50 per share signals commitment to shareholder returns. EBITDA margins remained stable at 22%, supported by cost discipline and operational scalability. The company’s fundamentals are underpinned by strong cash flow and a conservative capital structure.

Peer Comparison

AWHCL trades at a discount to peers on P/E basis, with a lower market capitalization relative to WABAG and IONEXCHANG. Its capex plans and order book scale are comparable to sector peers focused on infrastructure and utilities.

Risks & Concerns

Quarterly Trend

The company has demonstrated consistent revenue and profit growth across quarters, with OPM stability above 17% and EPS peaking in Q4FY24 at ₹9.70. Profit growth accelerated in Q4FY24, though margin expansion was tempered by higher operational costs. The full-year FY26 performance aligns with this upward trend, supported by scale and project execution.

Forward Guidance

📄 View Original Announcement (PDF)

About Antony Waste Handling Cell Limited (AWHCL)

Utilities · Other Utilities · Listed on NSE

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