Antony Waste Handling Cell Limited has uploaded the transcript of its earnings call held on Tuesday, August 11, 2026, at 2:30 pm (IST), discussing operational and financial performance for the first quarter of FY27 (Q1FY27). The disclosure was filed with the Listing Departments of BSE Limited and the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The filing, referenced as AW/COMP/SE/2026-27/45 dated August 17, 2026, follows previous intimations regarding the earnings call schedule and audio recording upload. It provides detailed insights into the company’s financial results, including a significant contraction in profitability due to non-recurring items and operational challenges at its Waste-to-Energy facility.

Filing Details

The document was authorized by Harshada Rane, Company Secretary & Compliance Officer, who digitally signed it on August 17, 2026, at 20:03:35 +05'30'.

Financial Performance

The company reported total operating revenue of ₹269 crore, a 6% increase year-on-year. This growth was driven by higher volumes across project sites and contractual tariff-linked escalations. Collection and Transportation (C&T) revenue grew 10% to ₹156 crore, while processing segment revenue rose 3% to ₹75 crore.

However, profitability faced significant pressure. EBITDA fell 27% year-on-year to ₹45 crore, with margins contracting to 16.8% from 24.4% in Q1FY26. This compression was attributed to higher operating expenses, including an 18% rise in employee costs (now 34% of revenue) and a one-time deferral of waste disposal activities costing approximately ₹10 crore. Net profit plummeted to ₹0.7 crore from ₹23 crore in the prior year, heavily impacted by a ₹7 crore prepayment charge related to term loan refinancing.

Operational Updates

Operations were affected by a tragic incident at the PCMC Waste-to-Energy facility on July 8, where heavy rainfall caused a legacy waste mound collapse. The company suspended WtE operations pending safety assessments, though Material Recovery Facility (MRF) and composting operations resumed on July 28. Management expects the WtE plant to restart by the first week of October.

Total waste handled reached approximately 1.4 million tons, a 5% increase year-on-year. C&T operations processed 0.55 million tons, while processing facilities managed 0.85 million tons. The PCMC plant generated over 20 million green units, avoiding 2,782 tons of CO₂ equivalent emissions.

Strategic Developments

Antony Waste secured a new contract from the Greater Noida Industrial Development Authority for the procurement and O&M of electrical mechanical road sweeping machines. Valued at ₹243 crore over five years with a two-year extension option, the project is expected to commence in Q3FY27 and contribute approximately ₹46 crore in first-year revenue.

Additionally, the company refinanced a ₹140 crore term loan for its subsidiary Antony Lara Renewable Energy Private Limited, reducing the interest rate from 10.25% to 8.25%. As of June 2026, gross debt stood at ₹435 crore against cash balances of ₹111 crore, resulting in net debt of ₹324 crore.

What the Numbers Show

The sharp decline in PAT to ₹0.7 crore is largely non-operational, driven by the ₹7 crore refinancing prepayment charge and ₹10 crore in deferred disposal costs. Excluding these one-time items, the underlying operational margin pressure stems primarily from rising employee costs, which jumped to 34% of revenue from 30% a year ago due to Labour Code changes and headcount additions. While revenue growth remains healthy at 6%, the divergence between top-line resilience and bottom-line contraction highlights the impact of transitional cost structures and regulatory compliance expenses.

Antony Waste Handling Cell Limited reported a sharp contraction in profitability for the quarter ended June 30, 2026 (Q1FY27), with standalone net profit attributable to owners falling 97% year-on-year to ₹0.7 crore from ₹23.0 crore. While total revenue from operations grew by 6% to ₹268.8 crore, earnings were severely impacted by rising operational costs and a one-time expense of ₹7 crore related to the prepayment of a term loan for its subsidiary, Antony Lara Renewable Energy.

Q1FY27 Financial Performance

The divergence between revenue growth and profit decline highlights intensifying cost pressures within the waste management business. Standalone operating revenue rose 6% to ₹260.1 crore, driven by a 10% increase in Municipal Solid Waste (MSW) Collection & Transportation (C&T) revenue to ₹166.3 crore. However, MSW Processing revenue grew only marginally by 3% to ₹74.7 crore, while other operating income declined by 14% to ₹19.1 crore.

EBITDA contracted significantly by 27% to ₹45.0 crore from ₹62.1 crore in the corresponding period last year, compressing the EBITDA margin to 16.8% from 24.4%. Chairman & Managing Director Jose Jacob attributed the moderation to higher operating expenses, including vehicle hiring and transportation costs at the CIDCO plant. Additionally, certain waste disposal transportation activities deferred from Q4FY26 resulted in an incremental expense of approximately ₹10 crore during the quarter.

Strategic Refinancing and Operational Highlights

Despite the financial headwinds, the company maintained robust operational volumes. In Q1FY27, Antony Waste Handling Cell managed approximately 1.40 million metric tonnes (MMT) of waste, representing a ~5% year-on-year growth. C&T volumes grew ~5% to ~0.55 million tonnes, while processing volumes rose ~6% to ~0.85 million tonnes. The company sold around 40,000 tonnes of Refuse Derived Fuel (RDF), a decline of ~28% year-on-year, and 6,000 tonnes of compost, which remained stable.

A key strategic development was the refinancing of the term loan for Antony Lara Renewable Energy. The company prepaid the existing loan, reducing the interest rate by 200 basis points from 10.25% to 8.25%. Although this triggered a one-time expense of ₹7 crore impacting Q1FY27 profits, management stated that the lower borrowing cost is expected to deliver recurring interest savings, reduce the finance burden, and support stronger cash flow generation from the Waste-to-Energy facility going forward.

What the Numbers Show

The significant drop in standalone PAT despite moderate revenue growth indicates a structural shift in cost dynamics combined with timing-related expenses. The incremental ₹10 crore transportation cost and the ₹7 crore loan prepayment charge together account for ₹17 crore of the decline in profitability, suggesting that underlying operational performance may be less severe than the headline PAT figure implies. Investors should monitor whether the higher vehicle hiring and transportation costs persist in subsequent quarters or if they were primarily driven by the deferral of Q4FY26 activities.