Antony Waste Handling Cell Reports Q3 FY24 Results: Revenue Stable, Net Profit Dips

2 min read     Updated on 06 Sept 2025, 11:58 AM
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Ashish ThakurScanX News Team
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Overview

Antony Waste Handling Cell Limited reported Q3 FY24 results with revenue at ₹21,715.22 lakhs, slightly down from ₹21,752.55 lakhs in Q3 FY23. Net profit decreased by 2.56% to ₹1,561.08 lakhs. The company commissioned a 14 MW Waste to Energy plant in October 2023 and issued 61,471 equity shares under its employee stock option plan. However, it faces significant challenges with outstanding receivables totaling over ₹6,817.83 lakhs from various sources, including municipal corporations, potentially impacting cash flow and financial stability.

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*this image is generated using AI for illustrative purposes only.

Antony Waste Handling Cell Limited , a key player in the waste management sector, has released its financial results for the third quarter ended December 31, 2023. The company reported a stable revenue performance but faced challenges in profitability and receivables.

Q3 FY24 Financial Highlights

  • Revenue from operations stood at ₹21,715.22 lakhs, marginally lower than ₹21,752.55 lakhs in Q3 FY23
  • Net profit decreased to ₹1,561.08 lakhs from ₹1,602.12 lakhs year-over-year, a 2.56% decline

Nine-Month Performance

For the nine-month period of FY24:

  • Revenue increased to ₹66,271.26 lakhs from ₹65,247.62 lakhs in the same period last year
  • Net profit declined to ₹6,972.64 lakhs from ₹7,218.00 lakhs

Operational Developments

  • Commissioned a 14 MW Waste to Energy plant in October 2023
  • Issued 61,471 equity shares under its employee stock option plan during the quarter

Challenges in Receivables

The company is facing significant challenges with outstanding receivables:

  • ₹663.63 lakhs in long-outstanding amounts from municipal corporations under various disputes
  • ₹1,500.00 lakhs currently under Supreme Court review
  • ₹4,005.96 lakhs in other financial assets overdue
  • ₹648.24 lakhs in trade receivables from municipal corporations overdue

These outstanding amounts pose a potential risk to the company's cash flow and financial stability.

Financial Performance Analysis

Metric Q3 FY24 Q3 FY23 Change
Revenue from Operations ₹21,715.22 lakhs ₹21,752.55 lakhs -0.17%
Net Profit ₹1,561.08 lakhs ₹1,602.12 lakhs -2.56%

Despite the marginal decrease in quarterly revenue, Antony Waste Handling Cell has managed to maintain relatively stable operations. However, the decline in net profit, both for the quarter and the nine-month period, indicates pressure on the company's profitability.

The commissioning of the 14 MW Waste to Energy plant in October 2023 marks a significant operational milestone for the company, potentially opening new revenue streams and enhancing its waste management capabilities.

The issue of substantial outstanding receivables remains a critical concern for Antony Waste Handling Cell. With significant amounts under dispute or review, including ₹1,500.00 lakhs at the Supreme Court level, the company may face challenges in working capital management and future growth investments if these issues are not resolved promptly.

The company's decision to issue equity shares under its employee stock option plan demonstrates a commitment to aligning employee interests with company performance, which could potentially boost motivation and retention.

As Antony Waste Handling Cell navigates these financial and operational challenges, stakeholders will be watching closely to see how the company addresses its receivables issues and leverages its new waste-to-energy capabilities to drive future growth and profitability.

Historical Stock Returns for Antony Waste Handling Cell

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Antony Waste Handling Cell Expands into Waste-to-Energy with New Subsidiaries

2 min read     Updated on 03 Sept 2025, 01:17 PM
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Naman SharmaScanX News Team
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Overview

Antony Waste Handling Cell Limited (AWHCL) has established two new subsidiaries for waste-to-energy projects: Kurnool Renew Energy Private Limited and Kadapa Renew Energy Private Limited. AWHCL's material subsidiary, Antony Lara Enviro Solutions, holds a 73% stake in both entities. The Kadapa project, a ~15-MW Waste to Energy facility, focuses on processing MSW waste through Material Recovery Facility and incineration. This strategic expansion diversifies AWHCL's portfolio beyond traditional waste management services into renewable energy production.

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*this image is generated using AI for illustrative purposes only.

Antony Waste Handling Cell Limited (AWHCL), a prominent player in the solid waste management sector, is making significant strides in the waste-to-energy domain with the establishment of new subsidiaries. The company has recently announced the creation of two new entities to spearhead its waste-to-energy projects in different regions of India.

Kurnool Renew Energy Private Limited

AWHCL has established a new subsidiary called Kurnool Renew Energy Private Limited for a waste-to-energy project. This strategic move underscores the company's commitment to expanding its footprint in the renewable energy sector. Antony Lara Enviro Solutions, a material subsidiary of AWHCL, holds a substantial 73.00% stake in this newly created entity, highlighting the company's significant investment in this venture.

Kadapa Renew Energy Private Limited

In a related development, AWHCL's material subsidiary, Antony Lara Enviro Solutions Private Limited, has incorporated another Special Purpose Vehicle (SPV) named Kadapa Renew Energy Private Limited. This step-down subsidiary was formed in accordance with the requirements of a ~15-MW Waste to Energy Project awarded by the New & Renewable Energy Development Corporation of Andhra Pradesh Limited.

Project Details and Shareholding

The Kadapa Renew Energy project aims at "Processing of MSW waste through Material Recovery Facility and incinerate waste in Waste to Energy Facility." This aligns with AWHCL's core competency in solid waste management while venturing into the energy generation aspect.

Antony Waste Handling Cell Limited effectively holds a 73.00% stake in Kadapa Renew Energy Private Limited through its ownership in Antony Lara Enviro Solutions. This majority stake ensures that AWHCL maintains significant control over the operations and direction of these new waste-to-energy initiatives.

Strategic Expansion

These new subsidiaries represent AWHCL's strategic expansion into the waste-to-energy sector, diversifying its portfolio beyond traditional waste management services. By leveraging its expertise in solid waste management and venturing into energy production from waste, the company is positioning itself at the forefront of sustainable waste management solutions in India.

The establishment of these subsidiaries not only demonstrates AWHCL's commitment to innovation in waste management but also aligns with the growing emphasis on renewable energy sources in India. As these projects develop, they have the potential to contribute significantly to both waste reduction and clean energy production in their respective regions.

Antony Waste Handling Cell Limited's move into the waste-to-energy sector through these new subsidiaries marks a significant step in the company's growth strategy, potentially opening up new revenue streams and reinforcing its position in the evolving landscape of waste management and renewable energy in India.

Historical Stock Returns for Antony Waste Handling Cell

1 Day5 Days1 Month6 Months1 Year5 Years
0.0%+0.81%-5.26%+8.93%-19.45%+41.60%
Antony Waste Handling Cell
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