Antony Waste Handling Cell announced on Tuesday that it has secured a ₹243.22 crore project with the Greater Noida Industrial Development Authority for a five-year period. According to reports from Moneycontrol, under the contract, the company will provide Electric Mechanical Road Sweeping Machines (MRSMs), along with comprehensive operations and maintenance (O&M), for roads under the jurisdiction of Greater Noida's East Zone. This significant contract win reinforces the company's position in the waste management sector.
The company reported total operating revenue of ₹269 crore for the quarter ended June 30, 2026, representing a 6% year-on-year increase from ₹246 crore in Q1FY26. However, net profit attributable to owners dropped dramatically by 97% to ₹0.7 crore from ₹23 crore in the corresponding period last year. EBITDA contracted significantly by 27% to ₹45 crore from ₹62.1 crore, with EBITDA margin compressing to 16.8% from 24.4%, a decline of 760 basis points. As reported by Moneycontrol, the profit decline was primarily driven by a one-time expense of ₹7 crore related to the prepayment of the term loan for Antony Lara Renewable Energy and higher operating expenses including vehicle hiring and transportation costs. The company also faced labor inflation with employee costs rising 18% year-on-year, now accounting for 34% of revenue compared to 30% previously.
Despite financial headwinds, the company maintained robust operational volumes in Q1FY27. C&T volumes grew approximately 5% to 0.55 million tonnes, while processing volumes rose around 6% to 0.85 million tonnes. Total municipal solid waste handled increased around 5% to 1.40 million tonnes. The company sold around 40,000 tonnes of Refuse Derived Fuel (RDF), representing a decline of 28% year-on-year, though management noted this decline was mainly due to the completion of the CIDCO bio-mining project rather than weaker demand, with realization improving to more than ₹300 per ton. Compost sales remained broadly stable at approximately 6,000 tonnes. According to Moneycontrol, MSW Collection & Transportation revenue grew 10% to ₹166.3 crore, while MSW Processing revenue increased only marginally by 3% to ₹74.7 crore, and other operating income declined by 14% to ₹19.1 crore.
A key strategic development was the refinancing of the term loan for Antony Lara Renewable Energy. The company prepaid the existing loan, reducing the interest rate by 200 basis points from 10.25% to 8.25% and extending the tenor to 15 years. While this triggered a one-time expense of ₹7 crore impacting Q1FY27 profits, management stated that the lower borrowing cost is expected to deliver recurring interest savings and reduce the finance burden. Chairman & Managing Director Jose Jacob attributed the moderation in profitability to higher operating expenses, including vehicle hiring and transportation costs at the CIDCO plant and certain waste disposal transportation activities that deferred from Q4FY26, resulting in an incremental expense of approximately ₹10 crore. The company also faced input-cost volatility with fuel, repairs and maintenance, and transportation costs remaining unpredictable, while finance costs rose 35% year-on-year reflecting higher debt base from refinancing.
The quarter was significantly impacted by operational disruptions at the company's waste-to-energy facilities. The PCMC waste-to-energy plant was suspended after a severe monsoon event on July 8, causing a large fixed-cost burden in the quarter. Material recovery and composting units restarted later in July, while the waste-to-energy plant is expected to restart in the first week of October after safety checks. Management indicated that the PCMC incident could still lead to an ₹22-24 crore impairment charge in Q2. Despite these challenges, the company's Waste-to-Energy plant at PCMC generated over 20 million green units during the quarter, helping avoid approximately 2,782 tons of CO2 equivalent emissions. The company's Construction & Demolition waste recycling facility continued to operate efficiently, achieving an industry-leading recycling rate of 96%, reinforcing its commitment to circular economy practices.
