Antony Waste Handling Cell has fixed the term of Shiju Jacob Kallarakal as Executive Director for a period of five years, effective from July 28, 2026, to July 27, 2031. The decision was taken by the Board of Directors on the recommendation of the Nomination and Remuneration Committee during a meeting held on July 28, 2026. The appointment requires ratification by shareholders at the company’s 25th Annual General Meeting.

The Board confirmed that Mr. Kallarakal is not debarred from holding office by any order passed by SEBI or other competent authorities. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026.

Director Profile

Shiju Jacob Kallarakal has been associated with Antony Waste Handling Cell since its inception in 2001. He holds a Bachelor’s degree in Chemical Engineering from Bharati Vidyapeeth’s College of Engineering, University of Mumbai. With over two decades of experience in the Solid Waste Management sector, he has played a key role in expanding the company’s operational footprint across collection, transportation, mechanised sweeping, waste processing, and Waste-to-Energy initiatives.

Previously serving as Executive Director and Chief Financial Officer, Mr. Kallarakal now holds the mandate of Executive Director and Chief Risk Officer. In this role, he oversees enterprise risk management, drives operational efficiency through technology adoption such as GPS/RFID enabled fleet tracking, and manages strategic implementation.

Key Details

The fixation of term includes provisions for remuneration over the five-year period. The move ensures continuity in leadership for the company’s risk management and operational strategy functions.

Antony Waste Handling Cell reported steady operational performance for Q1FY27, with total tonnage managed growing 5.4% year-on-year to approximately 1.40 million tonnes. Core revenue grew by approximately 7%, driven by continued ramp-up in existing contracts and improved throughput across project locations. The company also successfully refinanced a term loan for its material subsidiary, Antony Lara Renewable Energy Private Limited, reducing the interest rate by 200 basis points to 8.25% per annum. Subsequent to the quarter, the Pimpri Chinchwad Waste-to-Energy facility suffered a force majeure event on July 8, 2026, resulting in structural damage and the loss of nine lives.

Operational Performance for Q1FY27

The company managed approximately 1.40 million tonnes of waste during the quarter, reflecting growth across both Collection & Transportation (C&T) and Processing segments. C&T volumes rose 5.1% year-on-year to approximately 0.55 million tonnes, while Processing volumes increased 5.5% to approximately 0.85 million tonnes. The company noted that core revenue growth of around 7% underscores resilient demand despite seasonal and macroeconomic challenges.

Refuse Derived Fuel (RDF) sales stood at approximately 40,000 tonnes, a decline of 28% compared to the corresponding period last year. The company stated this decline was due to the completion of the CIDCO biomining project, which had contributed meaningfully in Q1 FY26. Compost sales remained broadly stable at approximately 6,000 tonnes.

Refinancing of Subsidiary Debt

Antony Waste Handling Cell refinanced the term loan of Antony Lara Renewable Energy Private Limited, which operates the PCMC Waste-to-Energy facility. The refinancing lowered the interest rate from 10.25% per annum to 8.25% per annum. This reduction is expected to lower the interest burden at the subsidiary level, enhance free cash flow generation, and improve overall returns from the asset.

Force Majeure Event at PCMC Facility

On July 8, 2026, the PCMC Waste-to-Energy Facility experienced a force majeure event caused by exceptionally heavy monsoon rainfall. The rainfall destabilised municipal waste in a legacy landfill located outside the facility's boundary, causing the waste mass to collapse onto the site. This collapse resulted in structural damage to the administrative building, where 23 employees were present at the time.

Rescue operations involving the National Disaster Response Force (NDRF), the Indian Army, and local emergency agencies rescued 14 employees. The company confirmed the loss of nine lives in the incident. In response, the company committed to providing financial assistance of ₹25,00,000 to the family of each deceased employee, covering funeral expenses, offering employment to next of kin, and bearing educational expenses for minor children where applicable. The Material Recovery Facility (MRF) and composting plant have resumed operations.