Antony Waste Handling Cell Ltd

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.

Meeting Details

• Date and time: August 11, 2026 at 2:30 pm IST.
• Type and mode: Earnings Call; audio recording of the call posted.
• Event/organiser: Earnings Call organized by Antony Waste Handling Cell Ltd.
• Purpose: discuss Q1FY27 operational and financial performance.
• Availability: audio recording uploaded on the company's investor website.

Award details

• GNIDA awarded procurement and 5-year O&M of Electric Mechanical Road Sweeping Machines.
• Engagement term: 5 years, extendable by 2 years.
• Contract value: approx ₹243.22 crore over five years, providing revenue visibility.
• Domestic awarding entity; GNIDA is within India.
• No promoter group interest; not a related-party transaction.

Financial highlights

• Total operating revenue for Q1FY27: ₹260.1 crore.
• EBITDA ₹45 crore; EBITDA margin 16.8%.
• PAT ₹0.7 crore; PAT margin 0.3%.
• Revenue by segment: MSW C&T ₹166.3 cr; MSW processing ₹74.7 cr.
• Total operating revenue from operations ₹268.8 cr.
• Total MSW handled ~1.40 million tonnes; C&T ~0.55m; processing ~0.85m.
• RDF sales down ~28% to 40,000 tonnes.
• Compost sales ~6,000 tonnes.
• Refinanced Antony Lara Renewable Energy loan; interest rate cut 200 bps to 8.25%.
• One-time prepayment expense ₹7 crore; PAT impact.
• Outlook: strong order book and project pipeline; disciplined execution.

Business Overview

• Integrated MSW management covering collection, transport, processing, composting, RDF and WTE.
• Operations across 10 states with 25+ municipal partners; 40+ projects completed/ongoing.
• Asia's largest single-location bio-reactor landfill at Kanjurmarg; WTE plant with PCMC power sale.
• Core revenue streams: MSW C&T, MSW processing, RDF, compost, and WTE.
• Fleet of ~2,639 vehicles, GPS-tracked for route optimization.

Operational Highlights

• Q1FY27 waste managed about 1.40 MMT.
• RDF sales ~40,000 tonnes; compost sales ~6,000 tonnes in Q1FY27.
• Green units generated >20 million; CO2e avoided ~2,780 tonnes; training >8,310 hours.
• 19 ongoing contracts; average MSW C&T duration 7.7 years.
• 6 Waste Processing and 1 C&D contracts; average 23 years.
• Kanjurmarg bio-reactor landfill handles ~6,000 tpd; 2,484 of 2,639 vehicles GPS fitted.
• WTE project inaugurated; power sale started to PCMC.

Financial Performance

• FY26 consolidated revenue ₹1,084.1 cr; EBITDA ₹236.3 cr; PAT ₹91.7 cr.
• EBITDA margin 21.8%; PAT margin 8.5%; PBT before exceptional items ₹89.7 cr.
• Q1FY27 total revenue ₹268.8 cr; EBITDA ₹45.0 cr; EBITDA margin 16.8%.
• Q1FY27 PAT for owners ₹0.8 cr; PAT margin 0.3%.
• Total assets ₹1,738.7 cr; total equity ₹915.2 cr; borrowings ₹425.5 cr.
• Cash and cash equivalents ₹109.6 cr; net cash from operating activities ₹139.4 cr.

Capital Structure & Liquidity

• Total borrowings ₹425.5 cr; cash ₹109.6 cr; net debt/equity 0.3x.
• Credit ratings: CARE BBB+ (Stable) for working capital; CARE A3+ for bank guarantees.
• Crisil ratings assigned to subsidiaries Antony Lara Enviro Solutions and Antony Lara Renewable Energy.
• Consolidated cash flow from operations ₹139.4 cr; end-Cash ₹109.6 cr.

Strategic Priorities & Outlook

• Cluster-based growth with emphasis on WTE, segregation, and bio-mining.
• Bid selectively in new states; pursue profitable contracts with escalations.
• Increase non-municipal revenue; leverage technology and client diversification.

Risks & Mitigation

• Forward-looking statements carry risk; mitigated by diversified portfolio.
• Mitigation includes pass-through cost escalations and targeting financially stable municipalities.

Governance & Leadership

• Chairman & MD: Jose Jacob Kallarakal; Executive Director & CRO: Shiju Jacob Kallarakal.
• Independent Directors: Ajit Kumar Jain; Suneet K Maheshwari; Priya Balasubramanian.
• Non-Executive Director & Chief Sustainability Officer: Shiju Antony Kallarakal.

Meeting Details

• Date and time: August 13, 2026 at 10:00 a.m. onwards.
• Organised by: Equirus Securities.
• Nature: 1x1 / Group Meetings (virtual).

Participants

• Company officials including senior management will attend.

Purpose

• Discussions will be based on publicly available information.