Antony Waste Handling Cell Reports Q3 FY24 Results: Revenue Stable, Net Profit Dips
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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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
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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0.0% | +0.81% | -5.26% | +8.93% | -19.45% | +41.60% |