According to latest reports from CNBC TV18, nine workers were killed when a waste mound outside Antony Waste Handling Cell's PCMC Waste-to-Energy plant in Pune collapsed following exceptionally heavy rainfall. The debris crashed onto the administration building, causing severe damage to the structure where 23 employees were present at the time. The company stated that based on preliminary information, incessant rains caused thousands of tonnes of waste from a landfill outside the facility to collapse on to the site, resulting in the tragic incident. As per CNBC TV18, emergency response teams including the National Disaster Response Force (NDRF), the Indian Army, the Fire Brigade and the local administration conducted rescue operations post the incident. The latest update confirms that as many as 14 employees were rescued and are currently receiving medical treatment and counselling. The company had first informed stock exchanges of the incident on Thursday, July 9, 2026.
According to CNBC TV18, Antony Waste has announced comprehensive support measures for affected families. The company will bear all hospital, medical and counselling expenses for employees injured in the incident. Additionally, it will cover funeral and last-rites expenses. In a significant gesture, the company will provide financial assistance of ₹25 lakh to each bereaved family, comprising ex gratia support from the company along with benefits payable under applicable statutory welfare and insurance schemes, as well as its Group Insurance Policy. The company has also committed to offering employment to an immediate family member of each deceased employee, and bearing the educational expenses of the minor children of every deceased employee. As per CNBC TV18, the company has assigned a representative as a single point of contact for each affected family, assisting with medical care, documentation, insurance claims, statutory benefits and other formalities, under the direct overnight of senior management.
The collapse has resulted in 100% immediate downtime for the affected section of the facility, which processes 1,000 tons per day (TPD) of municipal solid waste and generates 14 MW of green energy. According to latest analysis, disruption in a 1,000 TPD facility will likely impact tipping fee revenue and power sale income for the current quarter by an estimated 5-8% depending on downtime duration. The facility, which represents a significant shift from traditional waste collection to high-margin waste processing, is estimated to have cost ₹250 crore in capital expenditure for the Pimpri-Chinchwad WtE project. As per JPMorgan analysis, expected operational downtime at a plant handling 1,000 TPD and potential liability costs create immediate negative pressure on cash flow projections. The incident highlights structural risks in large-scale waste processing and could trigger scrutiny from the Pimpri-Chinchwad Municipal Corporation (PCMC), with markets closely watching management's commentary on 'Force Majeure' clauses in their concession agreement.
According to CNBC TV18, Antony Waste Handling Cell shares were trading 2.4% lower at ₹453.65 apiece in early trade on Monday, July 13, following the incident announcement. The stock has declined 6.7% this year so far, compared to a 0.68% rise in the NSE Nifty 50 Index. This compares to a 0.68% rise in the NSE Nifty 50 Index. As per The Economic Times, shares of Antony Waste Handling Cell could witness heavy selling pressure on July 13 after the company informed exchanges about the serious incident. The company added that based on the information currently available, no immediate material impact on the company's operations has been identified, with the current priority being to support ongoing rescue operations. According to latest trading data, total traded volume stood at 0.15 times its 30-day average with the relative strength index at 43.41. Out of two analysts tracking the company, two maintain a 'buy' rating, according to Bloomberg data, with the average 12-month consensus price target of ₹600 implying an upside of 34.6%.
