Antony Waste Handling Cell Ltd

Dematerialisation status

• Regulation not applicable; all securities are in dematerialised form.
• No dematerialisation/rematerialisation requests were received in the quarter.

Antony Waste Handling Cell Ltd – Trading Window closed from Oct 01, 2026 up to 48 hours after disclosure of unaudited financial results for the second quarter and half year ending September 30, 2026

Corporate guarantee details

• Company extends a corporate guarantee in favor of ICICI Bank for Mumbai Eco Solutions.
• Guarantee covers up to ₹34 crore; Antony's liability is 51% of outstanding facilities.
• The guarantee is continuing, irrevocable, unconditional and co-extensive with the borrower's obligations.
• Contingent liability with no immediate impact on the company.
• Guarantor is Antony Waste Handling Cell; subsidiary is Mumbai Eco Solutions Private Limited.
• Promoter group has no interest; guarantee is at arm's length; disclosure dated 28 September 2026.

Meeting Details

• Date and time: September 23, 2026 at 02:00 p.m. onwards.
• Type and mode: 1x1 / group meeting(s).
• Organiser: JM Financial Services Limited.

Participants

• Company officials (management) to attend.

Purpose

• Discussions will be based on publicly available information.

Corporate guarantee details

• Purpose: Corporate guarantee issued to ICICI Bank for Mumbai Eco Solutions Pvt Ltd's credit facilities.
• Extent: 51% of total principal ₹2,82,83,388 (₹28,283,388).
• Contingent liability: ₹14,424,528 for Antony Waste if Mumbai Eco defaults.
• Promoter group not involved; arrangement at arm's length.
• Impact: no immediate effect beyond contingent liability; disclosed for records.

AGM Details

• The AGM was held on 20 August 2026 at 11:30 a.m. through VC/OAVM.
• Record date was 13 August 2026.
• Total shareholders on record: 80,853.
• All resolutions were passed by the requisite majority.

Key Resolutions and outcomes

• Adopt standalone and consolidated financial statements for FY2026.
• Declare final dividend on equity shares for FY2026.
• Re-appoint Shiju Jacob Kallarakal as Director, liable to retire by rotation.
• Approve material related party transactions with Antony Lara Enviro Solutions Private Limited.
• Approve material related party transactions with Mumbai Eco Solutions Private Limited.
• Approve material related party transactions with Antony Lara Renewable Energy Private Limited.
• Approve material related party transactions with Kadapa Renew Energy Private Limited.
• Reclassify authorised share capital and amend the Memorandum of Association.
• Increase borrowing limits under Section 180(1)(c).
• Create security over assets under Section 180(1)(a).
• Grant loans under Section 185.
• Remuneration to Shiju Jacob Kallarakal, Executive Director, ratified.
• Fix term of Shiju Jacob Kallarakal as Executive Director.
• Pay commission to Independent Directors.

Dividend Details

• Final dividend per share amount not disclosed in the filing.

Director Changes

• Shiju Jacob Kallarakal was re-appointed as Director, liable to retire by rotation.

Material Related Party Transactions

• Related party transactions approved with Antony Lara Enviro Solutions Private Limited.
• Related party transactions approved with Mumbai Eco Solutions Private Limited.
• Related party transactions approved with Antony Lara Renewable Energy Private Limited.
• Related party transactions approved with Kadapa Renew Energy Private Limited.

Other Material Approvals

• Borrowing limits increased under Section 180(1)(c).
• Security over assets created under Section 180(1)(a).
• Loans under Section 185 approved.
• Remuneration and term approvals for Executive Director and related directives.

AGM Details

• AGM held on Aug 20, 2026 at 11:30 IST via VC/OAVM.
• Remote e-voting from Aug 17 to Aug 19, 2026.
• Quorum: 50 members representing 78,26,635 equity shares.
• MD was absent; Executive Director chaired the meeting.

Directors

• Shiju Jacob Kallarakal to be re-appointed as Director, liable to retire by rotation.

Key Resolutions

• Ordinary: Adopt audited standalone and consolidated financial statements for year ended March 31, 2026.
• Ordinary: Declare final dividend on equity shares for year ended March 31, 2026.
• Ordinary: Reclassify the authorised share capital with consequential MOA amendment.
• Special: Increase borrowing limits under Section 180(1)(C) of the Companies Act, 2013.
• Special: Create security interest over assets under Section 180(1)(A).
• Special: Consider and approve loan under Section 185 of the Companies Act, 2013.
• Special: Approve and ratify remuneration to Shiju Jacob Kallarakal, Executive Director.
• Special: Fix term of Shiju Jacob Kallarakal as Executive Director and remuneration.
• Ordinary: Approve payment of commission to Independent Directors.

Material Related Party Transactions

• Approve RPT with Antony Lara Enviro Solutions Private Limited (material subsidiary).
• Approve RPT with Mumbai Eco Solutions Private Limited (subsidiary).
• Approve RPT with Antony Lara Renewable Energy Private Limited (material subsidiary).
• Approve RPT between Antony Lara Enviro Solutions Private Limited and Antony Lara Renewable Energy Private Limited.
• Approve RPT between Antony Lara Enviro Solutions Private Limited and Kadapa Renew Energy Private Limited.
• Approve RPT between Antony Lara Enviro Solutions Private Limited and Kurnool Renew Energy Private Limited.

Auditors

• Statutory auditors Walker Chandiok & Co LLP attended AGM.
• Secretarial auditors SGGS and Associates attended; no changes announced.

Voting Status

• Outcomes subject to requisite majority; results to be declared on stock exchanges.

Meeting Details

• Date and time: August 25, 2026 at 11:00 a.m. onwards
• Organised by: Systematix Institutional Equities
• Nature: 1x1 / Group Meeting(s)
• Participants: Company officials to attend
• Purpose: Discussions will be based on publicly available information

Financial Performance

• Q1 FY27 revenue ₹269 crores, up 6% YoY.
• EBITDA ₹45 crores; margin 16.8% vs 24.4% in Q1 FY26.
• PAT ₹0.7 crores; one-off prepayment charge ₹7 crores.
• Net debt ₹324 crores; gross debt ₹435 crores; cash ₹111 crores; DSO 114 days.
• Refinancing: ₹140 crores refinanced at 8.25%.
• Impairment: WtE PCMC estimate ₹22-₹24 crores; insurance recovery possible.

Operational Highlights

• Volumes: C&T 0.55 mn tons; MSW processing 0.85 mn; total 1.40 mn.
• C&T revenue ₹156 crores; MSW revenue ₹75 crores.
• WtE PCMC green units >20 million; CO2 avoided ~2,782 tons.
• RDF sales 40,000 tons; down ~28% YoY; Compost 6,000 tons.
• RDF realization net ~₹300/ton; last year ~₹250/ton.
• Recycling rate 96%.
• CIDCO bio-mining completed; Atkoli processing start by Q4 FY27.

Projects and Capex

• Greater Noida IDA contract: ₹243 crores over 5 years; 2-year extension option.
• First-year revenue from Greater Noida: ₹46 crores.
• Project scope includes 16 electric sweepers; ~640 km roads daily.
• Atkoli project: Thane processing; start by Q4 FY27; escalations tie-up.

Q&A Highlights

• WtE restart: back by first week of October; revenue starts then.
• Fixed WtE costs about ₹2.5–₹3 crore per month; ₹7 crore prepayment charge noted.
• Processing volumes moderated due to CIDCO bio-mining ending; Atkoli expected to offset.
• Margin normalization expected to 20–22% over next 3 quarters.
• Refinancing improves cost of debt; payback period ~15 years; ₹7 crore prepayment charge.
• DSO around 114 days; volume ramps from BMC and Atkoli lines.

Outlook and Guidance

• FY27 EBITDA margin to revert to historical levels around 20–22%.
• Volume uplift from BMC and Atkoli ramps; full effect by Q4 FY27.