The Quarter story
The two most recent quarterly results, compared side-by-side.
Strong operational scale and workforce stability, but severe profit margin compression and slow cash collections are pressuring bottom-line returns.
MSW Collection & Transportation revenue grew from ₹151.4 Cr in Q1 FY26 to ₹166.3 Cr in Q1 FY27 — core waste handling income remains steady
EBIT margin slipped from 16.3% in Q1 FY26 to 8.5% in Q1 FY27 — operating profitability is under pressure
Frontline workforce expanded from 9,201 in Q1 FY26 to 9,782 in Q1 FY27 — operational capacity is scaling up
Net profit margin fell from 9.0% in Q1 FY26 to 0.3% in Q1 FY27 — bottom-line returns have nearly vanished
Staff retention recovered from 91.32% in Q3 FY26 to 98.87% in Q1 FY27 — team stability has improved
Finance costs surged from ₹14.5 Cr in Q3 FY26 to ₹21.4 Cr in Q1 FY27 — interest expenses are eating into earnings
Waste managed volumes increased from 1.33 MT in Q1 FY26 to 1.67 MT in Q4 FY26 — processing throughput is growing
Debtor days stayed flat at 114 days from Q1 FY26 to Q1 FY27 — cash collection remains consistently slow
Direct emissions dropped from 19,866 tCO2e in Q3 FY26 to 6,601 tCO2e in Q1 FY27 — environmental footprint is shrinking
Contracts & Others revenue dropped from ₹30.8 Cr in Q1 FY26 to ₹8.7 Cr in Q1 FY27 — ancillary income streams are shrinking
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