Antony Waste Handling Cell Ltd
Antony Waste Handling Cell Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Post commercialization of two Andhra Pradesh waste-to-energy projects in FY '29, annual revenue is expected to start between Rs. Revenue growth target: 20% to 25% CAGR over the next few years, driven by new project wins and steady execution.
From Antony Waste Handling Cell Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Post commercialization of two Andhra Pradesh waste-to-energy projects in FY '29, annual revenue is expected to start between Rs. 90 crores to Rs. 140 crores, scaling up to Rs. 130-140 crores, adding to existing Rs. 1,000+ crores revenue.
- Revenue growth for next year (FY '27) is targeted at 15%-18%, aiming around Rs. 1,200 crores from approximately Rs. 1,000 crores currently.
- Long-term revenue growth guidance is a 20% CAGR moving forward, supported by new project wins such as Atkoli, 2 BMC C&T contracts, and Andhra Pradesh WTE projects.
- Contribution from Construction & Demolition segment expected to double from current 5% as policy changes drive revenue growth in coming quarters.
- Volume seasonality observed with 55% of tonnage during wet season (June to October), boosting volumes.
- New tenders, especially in Eastern India and Tamil Nadu, expected post elections, indicating potential for further project additions and volume growth.
Profitability & Margins
See what Antony Waste Handling Cell Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Two Andhra Pradesh waste-to-energy projects at Kadapa and Kurnool with total capex of Rs.600-650 crores; construction period planned for 24 months, revenue from FY '29 onwards.
- Atkoli project and two BMC Collection & Transportation contracts also underway with associated capital expenditure.
- Addition of 335 vehicles at new NMMC project; incremental deployments at PCMC and Nagpur sites.
- Targeted debt/equity ratio up to 1x-1.2x over next 2 years to support capex.
- Continued investment in technology, innovation, and operational excellence to consolidate industry position.
- Focus on high-value contracts and circular economy solutions expected to improve margins.
- Potential future waste-to-energy tenders in eastern India and Tamil Nadu post elections.
- No fresh update on tire recycling projects; careful and selective bidding on new projects for profitability.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Antony Waste Handling Cell Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The company has secured a Rs.1,330 crore Collection & Transportation (C&T) order over a 7-year period through a joint venture, with Antony holding 51% ownership.
- The entire Rs.1,330 crore revenue and expenses are consolidated in Antony's books; minority interest accounts for other partners' share of profits.
- There are ongoing bids and tenders, including:
- - One live tender for a waste-to-energy (WTE) project in eastern India.
- - Several WTE tenders expected soon in Tamil Nadu post-state elections.
- - Tenders related to C&D segment expected to increase due to policy changes.
- The company anticipates doubling the C&D segment's contribution, currently at 5%, in FY27.
- Future projects focus on both processing and C&T, with careful project selection to ensure profitability.
- The board aims to grow non-municipal business segments such as B2C "Click-to-clean," EPR market, and electricity board clients.
Antony Waste Handling Cell Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹262 Cr, net profit ₹15 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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Frequently Asked Questions
What were Antony Waste Handling Cell Ltd Q3 FY26 results?
Post commercialization of two Andhra Pradesh waste-to-energy projects in FY '29, annual revenue is expected to start between Rs. Revenue growth target: 20% to 25% CAGR over the next few years, driven by new project wins and steady execution.
What is Antony Waste Handling Cell Ltd share price analysis?
Antony Waste Handling Cell Ltd currently shows a neutral. The stock trades at a P/E of 19.0 with a market cap of ₹1,108 Cr. Investors should review the full earnings analysis for detailed insights.
Is Antony Waste Handling Cell Ltd planning capital expenditure?
Two Andhra Pradesh waste-to-energy projects at Kadapa and Kurnool with total capex of Rs.600-650 crores; construction period planned for 24 months, revenue from FY '29 onwards.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.