Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

05 Nov 2025 CW Team

EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing revenue grew to Rs 721 million. For H1 FY26, total operating revenue stood at Rs 4.562 crore, reflecting a 15 per cent year-on-year rise.

During the quarter, the company sold around 40,081 tonnes of Refuse Derived Fuel (RDF) and 3,251 tonnes of compost. For the first half of FY26, RDF sales totalled 95,820 tonnes, and compost sales stood at 9,858 tonnes, reinforcing AWHCL’s focus on circular economy and sustainable waste-to-resource initiatives.

In a major development, subsidiary Antony Lara Enviro Solutions Pvt Ltd secured two 15 MW Waste-to-Energy (WtE) projects in Andhra Pradesh from the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd. With a combined concession value of approximately Rs 32 billion over 20 years, two new Special Purpose Vehicles—Kadapa Renew Energy Pvt Ltd and Kurnool Renew Energy Pvt Ltd—have been incorporated to execute these projects.

The company also reported progress on its merger of AG Enviro Infra Projects Pvt Ltd, its largest wholly owned subsidiary, with the listed holding entity. The merger process is now in its final stage following the admission of the Joint Company Scheme Petition by the Hon’ble National Company Law Tribunal, Mumbai Bench.

Commenting on the performance, Jose Jacob, Chairman and Managing Director, Antony Waste Handling Cell Limited, said, “Operational efficiencies and enhanced throughput were the key drivers of our growth this quarter. With new WtE projects and structural integration initiatives, we are well-positioned to sustain momentum and deliver long-term value to all stakeholders.”

AWHCL continues to strengthen its leadership in sustainable urban waste management through disciplined strategy, technological innovation, and expansion into renewable energy-driven waste solutions.

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing revenue grew to Rs 721 million. For H1 FY26, total operating revenue stood at Rs 4.562 crore, reflecting a 15 per cent year-on-year rise.During the quarter, the company sold around 40,081 tonnes of Refuse Derived Fuel (RDF) and 3,251 tonnes of compost. For the first half of FY26, RDF sales totalled 95,820 tonnes, and compost sales stood at 9,858 tonnes, reinforcing AWHCL’s focus on circular economy and sustainable waste-to-resource initiatives.In a major development, subsidiary Antony Lara Enviro Solutions Pvt Ltd secured two 15 MW Waste-to-Energy (WtE) projects in Andhra Pradesh from the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd. With a combined concession value of approximately Rs 32 billion over 20 years, two new Special Purpose Vehicles—Kadapa Renew Energy Pvt Ltd and Kurnool Renew Energy Pvt Ltd—have been incorporated to execute these projects.The company also reported progress on its merger of AG Enviro Infra Projects Pvt Ltd, its largest wholly owned subsidiary, with the listed holding entity. The merger process is now in its final stage following the admission of the Joint Company Scheme Petition by the Hon’ble National Company Law Tribunal, Mumbai Bench.Commenting on the performance, Jose Jacob, Chairman and Managing Director, Antony Waste Handling Cell Limited, said, “Operational efficiencies and enhanced throughput were the key drivers of our growth this quarter. With new WtE projects and structural integration initiatives, we are well-positioned to sustain momentum and deliver long-term value to all stakeholders.”AWHCL continues to strengthen its leadership in sustainable urban waste management through disciplined strategy, technological innovation, and expansion into renewable energy-driven waste solutions.

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