Antony Waste Handling Cell Limited announced that its material subsidiary AG Enviro Infra Projects Private Limited has secured two significant municipal solid waste collection and transportation contracts from the Brihanmumbai Municipal Corporation (BMC). The combined value of these contracts is approximately ₹1,330.00 crores, covering a period of 7 years and reinforcing the company's leadership position in India's urban waste management sector. The company currently maintains a market capitalization of ₹1,236.00 crores.

Contract Details and Structure

The contracts have been awarded to a consortium led by AG Enviro Infra Projects Private Limited, which holds a 51% stake. The consortium also includes M/s. Jigar Transport Company with 29% and M/s. M.K. Enterprises with 20%. This joint venture structure enables comprehensive service delivery across Mumbai's municipal waste management requirements.

Project Scope and Operations

Under the terms of the contracts, the joint venture will manage the collection and transportation of approximately 1,250 metric tonnes per day (MTPD) of municipal solid waste across key Mumbai wards. The operations will cover:

• 650 MTPD from A, B, C, and D Wards of Mumbai City
• 600 MTPD from N, S, and T Wards of Mumbai City

The projects involve providing owned new vehicles for waste collection and transportation to designated landfill sites, strengthening Mumbai's municipal waste infrastructure and ensuring improved service reliability.

Management Commentary

Commenting on the contract award, Jose Jacob, Chairman & Managing Director of Antony Waste Handling Cell Limited, stated that the company is delighted to secure these two significant collection and transportation contracts from BMC. He emphasized that this award reinforces their leadership in executing large-scale municipal waste operations across India's urban markets, noting that Mumbai has always been a cornerstone geography for the group.

Strategic Significance

The seven-year contract tenure provides stable long-term revenue visibility and supports the company's strategy of building a resilient waste management portfolio. The contracts underscore Antony Waste's proven execution capabilities, strong operational track record, and ability to manage large-scale urban projects in high-density metropolitan environments. The award further strengthens the company's long-term partnership with Mumbai and enhances its ability to deliver sustainable growth and long-term value for stakeholders.

Regulatory Compliance

The contract award notification was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company confirmed that the promoter/promoter group/group companies have no interest in the entity BMC that awarded the contracts, and the contracts do not fall within related party transactions.

Antony Waste Handling Cell Limited (AWHCL) has reported a robust performance for the second quarter, with significant growth in revenue and new project acquisitions. The company's strategic expansion and operational efficiency have positioned it well in India's evolving waste management sector.

Financial Performance

AWHCL reported an operating revenue of Rs 233.00 crores for Q2, marking a 16% year-on-year growth. This growth was driven by higher tipping fees, steady contributions from fixed shifts, trips, and household collection fees, along with improved operational efficiency.

The company's financial highlights for Q2 include:

Segment-wise Performance

AWHCL's performance across its business segments showcased balanced growth:

• Collection and Transportation (C&T): Revenue grew by 14% year-on-year to Rs 161.00 crores.
• Processing: Revenue increased by 22% year-on-year to Rs 72.00 crores.

Operational Highlights

• Total waste handled reached 1.27 million tons in Q2, up 6% year-on-year.
• The PCMC Waste-to-Energy plant generated over 41 million green units and avoided 2,347 tons of CO2 emissions.
• Construction and Demolition (C&D) Waste Recycling Facility achieved a 96% recycling rate.

New Project Acquisitions

AWHCL secured two new Waste-to-Energy projects in Andhra Pradesh:

• Total Project Value: Rs 3,200.00 crores over 20 years
• Capex per Project: Estimated at Rs 300.00-325.00 crores
• Viability Gap Funding: Rs 65.00 crores per project from state and municipal corporations

These projects are similar to the company's existing 15-megawatt MSW-based power plants and are expected to commence construction by Q4.

Financial Position

• Net Debt: Rs 343.00 crores
• Debt-to-Equity Ratio: 0.4x
• Order Book: Approximately Rs 12,500.00 crores

Future Outlook

AWHCL is focusing on expanding its processing infrastructure and strengthening its presence in high-growth emerging sectors. The company is exploring opportunities in vehicle scrapping and tire recycling businesses, with plans to set up facilities in collaboration with MIDC.

N.G. Subramanian, Group CFO, commented on the results, stating, "Our performance this quarter reflects our disciplined execution, operational agility, and continued focus on innovation and sustainability. We remain committed to driving long-term value for our stakeholders as we expand our presence in the waste management sector."

With its strong operational foundation and strategic expansions, Antony Waste Handling Cell Limited appears well-positioned to capitalize on the growing opportunities in India's waste management industry.