Antony Waste Handling Cell Ltd
Antony Waste Handling Cell Ltd is engaged in the business of mechanical power sweeping of roads, collection and transportation of waste, waste to energy project and undertake the designing, construction, operation and maintenance of the integrated waste management facility in Kanjurmarg, Mumbai.[1] It is one of the top five players in the Indian municipal waste management industry with a track record of ~20 years.[2]
Strengths
- +Company has reduced debt.
- +Company is almost debt free.
Weaknesses
- −Stock is trading at 5.48 times its book value
- −Though the company is reporting repeated profits, it is not paying out dividend
- −Company has low interest coverage ratio.
- −The company has delivered a poor sales growth of -9.05% over past five years.
- −Company has a low return on equity of 3.42% over last 3 years.
- −Earnings include an other income of Rs.33.5 Cr.
- −Company has high debtors of 481 days.
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 46.07% | 46.07% | 46.08%▲0.0 | 46.08% | 46.08% | 46.08% | 46.08% | 46.08% |
| FIIs | 10.79% | 11.36%▲0.6 | 10.46%▼0.9 | 10.99%▲0.5 | 13.09%▲2.1 | 12.81%▼0.3 | 11.78%▼1.0 | 14.79%▲3.0 |
| DIIs | 5.14% | 4.01%▼1.1 | 4.42%▲0.4 | 4.7%▲0.3 | 3.68%▼1.0 | 3.68% | 3.72%▲0.0 | 3.39%▼0.3 |
| Public | 37.93% | 38.49%▲0.6 | 38.98%▲0.5 | 38.17%▼0.8 | 37.09%▼1.1 | 37.38%▲0.3 | 38.37%▲1.0 | 35.7%▼2.7 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 15.18 | 12.59 | 11.67 | 8.82 | 9.31 | 155.54 | 8.46 | 8.75 | 155.93 | 169.19 |
| Expenses | 12.6 | 10.59 | 10.14 | 7.81 | 8.12 | 129.13 | 9.39 | 9.58 | 141.24 | 148.51 |
| Operating Profit | 2.58 | 2 | 1.53 | 1.01 | 1.19 | 26.41 | -0.93 | -0.83 | 14.69 | 20.68 |
| OPM % | 17% | 15.89% | 13.11% | 11.45% | 12.78% | 16.98% | -10.99% | -9.49% | 9.42% | 12.22% |
| Net Profit | 1.5 | 1.29 | 1.54 | 0.27 | 1.54 | 8.66 | 22.94 | 0.18 | -1.99 | 4.44 |
| EPS ₹ | 0.53 | 0.45 | 0.54 | 0.1 | 0.54 | 3.05 | 8.08 | 0.06 | -0.7 | 1.56 |
AI Insights
TTM revenue at ₹342Cr, up 877.1% YoY. OPM at 10%.
Borrowings at ₹19Cr. Debt-to-equity ratio: 0.09x. Healthy balance sheet.
CWIP at ₹1Cr (4% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 3.39% (-2.71pp change). FIIs: 14.79% (+1.65pp change). Promoters hold 46.08%.
ROCE improving from 0% (Mar 2016) to 2% (Mar 2025). Working capital days: 319.
PE 485x with 1.94% ROCE. Price is 448% above book value of ₹83.7. Dividend yield: 0%.
Recent Announcements
- Issuance Of Corporate Guarantee On Behalf Of Subsidiary Company 13 May - Antony Waste issued ₹9.88 crore corporate guarantee for subsidiary Mumbai Eco Solutions to Bajaj Finance.
- Outcome Of The Litigation Impacting The Company 7 May - Supreme Court dismissed BNCMC’s appeal; Antony Waste to receive ₹15 crore within three months, with 9% interest on delay.
- Issuance Of Corporate Guarantee On Behalf Of Subsidiary Company 5 May - Company issued ₹9.17 crore corporate guarantee for subsidiary Mumbai Eco Solutions with ICICI Bank.
- Issuance Of Corporate Guarantee On Behalf Of Subsidiary Company 4 May - Company issued ₹123 crore corporate guarantee for Antony Lara Renewable Energy’s HDFC Bank facility takeover.
- Compliances-Certificate Under Reg. 74 (5) Of SEBI (DP) Regulations, 2018 15 Apr - RTA confirmed Regulation 74(5) not applicable; all securities remained dematerialized for quarter ended March 31, 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse