Antony Waste Handling Cell Ltd. · NSE:AWHCL
Antony Waste Handling Cell — Q3 FY2026 Earnings Presentation
40 slides from Antony Waste Handling Cell's earnings presentation, January 2026
Slide 1: Q3 & 9MFY26 Investor Presentation
Antony Waste Handling Cell Limited Q3 & 9MFY26 Investor Presentation
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Antony Waste Handling Cell Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe fo
Slide 3: Q3FY26 Highlights
Q3FY26 Highlights 3 Sustainability with Growth ….
Slide 4: Key Updates
Key Updates 1 ~1.42 MMT / ~4.01 MMT 4 ~ 2.5 3 Mn+ Units / ~ 44.2 2 Mn+ Units Waste Managed* Green Units generated through PCMC Q3FY26 / 9MFY26 WTE Plant Q3FY26 / 9MFY26 2 ~37,840 Tonnes / ~1,33,661 Tonnes 5 ~1,215 Tonnes / ~6,994 Tonnes Sale of Refuse Derived Fuel Avoided tonnes of Co 2 e Q3FY26 / 9
Slide 5: Quarterly Highlights
Quarterly Highlights Total Revenue EBITDA PAT after excluding exceptional item (₹ in Cr) (₹ in Cr) (₹ in Cr) 265 269 62 254 59 58 30 249 250 57 55 233 227 223 218 50 49 50 44 22 23 21 18 17 16 15 15 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY24 FY24 FY25 FY25
Slide 6: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit and Loss ( ₹ in Cr) Q3FY26 Q3FY25 Y - o- Y 9MFY26 9MFY25 Y - o- Y Revenue from MSW C&T 174.5 162.7 7% 486.4 440.0 11% Revenue from MSW Processing 65.5 58.3 12% 209.7 178.9 17% Total operating Revenue 239.9 221.0 9% 696.1 618.9 12% Contract & Others 29.4 28
Slide 7: About Us
About Us 7 Sustainability with Growth ….
Slide 8: Committed to Sustainability with Growth
Committed to Sustainability with Growth Operational Excellence Market Leader Operates Largest Single location waste processing plant in Asia ~ 18 2 million+ Green Units (1) Since inception of the project till December 2025 25+ Leading > 2 decades 40+ Player in SWM Industry Operational Excellence Com
Slide 9: Over 25 years of Journey
Over 25 years of Journey ✓ Commencement of WTE project Inaugurated by the Honorable PM, Shri Narendra Modi, and started power sale to PCMC ✓ Awarded C&T project from Panvel Municipal Corp & Navi Mumbai Municipal Corp ✓ Awarded C&T project by TMC ✓ Awarded CIDCO Bio -Mining Project ✓ Awarded new C&T
Slide 10: Our Waste Management Solutions
Our Waste Management Solutions Mechanised and Non -Mechanised Sweeping Municipal Waste Waste Processing Collection and and Treatment Transportation Construction and Demolition Waste management Comprehensive Waste Hygiene Solutions to for all Spaces Energy 10 Sustainability with Growth ….
Slide 11: End-to-end waste management capabilities
End - to- end waste management capabilities… 1 Door to Door collection Involves collection of over 7,100 tonnes of MSW per day, from households, commercial establishments, institutions, public pla ces , and other urban sources 2 Transportation Our operations are supported by a fleet of over 2,600 sp
Slide 12: Strategic Revenue Diversification
Strategic Revenue Diversification ✓ Door to door collection through primary collection vehicles ✓ Transportation of waste to processing facility, transfer station or a landfill disposal site Revenue Distribution ✓ Revenue calculation based on No . of trips/ Per tonnes/ Fixed per day ✓ Escalation bas
Slide 13: De-risked business model
De - risked business model Number of Projects Revenue from Operations ( ₹ in Cr) Average ongoing contract durations (in years) 26 23 959 15 16 14 465 7.7 7 109 95 FY10 FY15 FY20 FY25 FY10 FY15 FY20 FY25 MSW C&T Sweeping Waste Processing Revenue from Performance % Revenue Contribution Factors de - ri
Slide 14: Our Strategy
Our Strategy ✓ Traditionally we have followed cluster -based approach to bid for projects – Ensuring a Steady Source of Revenue ✓ 10 on -going projects in MMR from Clients of Proven Economic Position ✓ 6 on -going projects in NCR Cluster based approach for growth ✓ Continue to focus on bidding proje
Slide 15: One of the largest single location plant in Asia
One of the largest single location plant in Asia* 2010 - 2036 ~11 ~6,000 ~18.86 90% (25 years) Years Tonnes mmt Project Tenure Balance Tenure Currently managing waste Total waste generated in Since project inception till per day Mumbai is handled at December 2025 Kanjurmarg site We operate one of th
Slide 16: Maharashtra's 1st Integrated Waste-to-Energy Project
Maharashtra’s 1 st Integrated Waste - to- Energy Project Inaugurated on August 1, 2023 by Shri Narendra Modi, Hon’ble Technology Project Tenure 2019 -2040 Prime Minister of India Partner Integrated Project Processing Pre -processing, Composting, Power over 1,000 Tonnes Per Day of Municipal generatio
Slide 17: Proven Expertise in Project Execution
Proven Expertise in Project Execution Collection and Waste Processing & Construction and Mechanised Sweeping Transportation Disposal Demolition Waste Greater Noida Jhansi CIDCO Mumbai Greater Noida Nagpur Kadapa 30 Nashik Ongoing projects Navi Mumbai Kurnool Noida Nagpur Mumbai 10 North Delhi Mumbai
Slide 18: Access to Technology Backed Vehicles & Equipment
Access to Technology Backed Vehicles & Equipment Collection and Transportation Technological Intervention Key equipment vendors Small Tipper 1,596 Electric Vehicle 105 Compactor 587 Waste processing technology Key Processes Dumper Placer 40 ✓ Aerobic process using MRF and composting facility at Kanj
Slide 19: Promoters & Board of Directors
Promoters & Board of Directors Jose Jacob Kallarakal Shiju Jacob Kallarakal Shiju Antony Kallarakal Chairman & Managing Director Executive Director & Chief Risk Officer Non - Executive Director & Chief Sustainability Officer ✓ > 25 years experience in waste management ✓ > 25 years of experience in w
Slide 20: Credit Rating
Credit Rating Amount Company Name Agency Rating Instrument (in Lakh) CARE BBB+; Stable 1,350 Working Capital Limits Antony Waste Handling Cell CARE Rating CARE A3+ 2,200 Bank Guarantee CARE BBB; Stable 4,200 Term Loan AG Enviro Infra Projects CARE Rating CARE BBB; Stable 2,700 Cash Credit CARE A3+ 3
Slide 21: Group Structure
Group Structure JV Lara Central De Partner Tratamento De Residuos LTDA, Brazil 27% 73% Merged into Holdco 51% 49% 100% 51% 100% Kerzellion Facility Mumbai Eco Management Services Integrated waste Solutions Pvt. Ltd. Pvt. Ltd. Management facility 2% Bio - mining 98% Providing Waste Management Collect
Slide 22: All India Ranking as per Swachh Bharat Survey 2025
All India Ranking as per Swachh Bharat Survey – 2025 Leading Player in Indian Municipal Solid Waste Management Industry Super Swachh Ranking 31 st 27 th 22 nd League City 07 th Delhi Nagpur Nashik Navi Mumbai Pimpri Chinchwad Category >10 Lakh >10 Lakh >10 Lakh >10 Lakh >10 Lakh Population Populatio
Slide 23: Industry Dynamics
Industry Dynamics India’s Waste Management Industry has enormous growth potential On average India practices higher open dumping vs global average India Waste Management Market (in ₹ billion ) Compost Recycled 10% 5% 1,714 Compost 7.2% CAGR Growth W2E 18% 13% 1,211 Landfill Recycled 52% Open 25% dum
Slide 24: Emerging areas of growth
Emerging areas of growth Biomethanation Population Waste Qty Approx. Capex Treatment option Products (‘000) (TPD) (₹ in lakh/TPD) ➢ Anaerobic fermentation of bio -degradable waste in an enclosed space - generates methane rich bio -gas fuel and sludge, used for making compost ➢ Like composting, biome
Slide 25: An ESG Centric Business
An ESG Centric Business Our Ratings: Crisil - ESG 54 SES – ESG 65.2 25 Sustainability with Growth ….
Slide 26: Sustainable Synergy: Our Commitment to Environmental Stewardship
Sustainable Synergy : Our Commitment to Environmental Stewardship Leachate treatment Greenhouse gases Company and two of its process aimed at captured from BLF material subsidiaries reducing Biochemical stations & leachate have Oxygen Demand treatment plan ISO 14001 certifications (BOD) levels 1 2 3
Slide 27: People-First Principles: Fostering Social Growth and Inclusion
People - First Principles : Fostering Social Growth and Inclusion POSH policy is All our employees and implemented with workers are fully CSR initiatives focused 100% coverage across covered by Health and on Health, Education, the organization Accident Insurance and Environment 1 2 3 4 5 6 Implement
Slide 28: Integrity in Leadership: Governing with Transparency and Accountability
Integrity in Leadership: Governing with Transparency and Accountability Diverse 6 -member Board, led by the Chairman & MD, Vigil Mechanism/ The Anti -Corruption and includes 3 Independent Whistleblower Policy to Bribery Policy applies to all Directors, one of whom is an facilitate reporting of genui
Slide 29: ESG Performance at Glance
ESG Performance at Glance Scope 1 Emission Scope 2 Emission Emissions Avoided 19,866 (tCO 2 e ) 2,646 (tCO 2 e ) 6,994 (tCO 2 e ) Human Resources Gender Diversity Retention Rate Staff – 1,158 Staff – 4.92% Staff – 91.32% Swachhta Warrior – 9,793 Swachhta Warrior – 2.24% Swachhta Warrior – 96.71% Tra
Slide 30: Historical Financial Highlights
Historical Financial Highlights 30 Sustainability with Growth ….
Slide 31: Consolidated Financial Highlights
Consolidated Financial Highlights PBT before exceptional item Revenue ( ₹ in Cr) EBITDA (₹ in Cr) & EBITDA Margin (%) (₹ in Cr) & PBT Margin (%) 23.0% 27.1% 22.5% 16.9% 25.0% 12.2% 959 220 14.7% 11.7% 9.9% 895 19.2% 202 113 875 117 102 109 167 168 129 130 71 95 232 667 261 209 99 175 481 FY21 FY22 F
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit and Loss ( ₹ in Cr) FY25 FY24 FY23 FY22 FY21 Revenue from MSW C&T 580.6 557.5 468.4 417.2 297.3 Revenue from MSW Processing 260.9 208.6 174.5 150.8 131.9 Total operating Revenue 841.5 766.1 643.0 568.0 429.2 Contract & Others 117.3 128.8 232.2 98.7 51.5 To
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (₹ in Cr) Mar- 25 Mar- 24 Mar- 23 Mar- 22 Mar- 21 Equity & Liabilities (₹ in Cr) Mar- 25 Mar- 24 Mar- 23 Mar- 22 Mar- 21 Non - Current Assets 1,204.2 1,059.2 893.0 618.5 481.2 Total Equity 819.2 718.4 616.8 532.7 442.6 Property Plant & Equipment 388.1 271.8 190.3 11
Slide 34: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (₹ in Cr) Mar- 25 Mar - 24 Mar- 23 Mar- 22 Mar - 21 Net Profit Before Tax 118.4 109.1 102.3 109.1 70.6 Adjustments for: Non -Cash Items / Other Investment or Financial Items 112.8 69.9 64.2 51.6 48.6 Operating profit before working capital changes 231.3 1
Slide 35: Annexures
Annexures 35 Sustainability with Growth ….
Slide 36: Quality Cum Cost Based Bidding Process
Quality Cum Cost Based Bidding Process ▪ Project area analysis ▪ Compliance with various covenants for project closure ▪ Feasibility study - Project report ▪ For projects on operation and maintenance basis, entire ▪ Key Execution & Admin. risks vehicle fleet is required to be returned to municipalit
Slide 37: Our Infrastructure at Kanjurmarg
Our Infrastructure at Kanjurmarg Material Recovery Facility Bio - reactor Landfill Gas Collection Composting 37 Sustainability with Growth ….
Slide 38: Our Infrastructure at PCMC Waste to Energy Plant
Our Infrastructure at PCMC Waste to Energy Plant Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 38 Sustainability with Growth ….
Slide 39: Abbreviations
Abbreviations ▪ ALESPL: Antony Lara Enviro Solutions Private Limited ▪ SLF: Sanitary Landfill ▪ AWHCL: Antony Waste Handling Cell Limited ▪ SWM: Solid Waste Management ▪ BN : Billion ▪ TMC: The Thane Municipal Corporation ▪ BLF: Bio -Reactor Landfill ▪ TPD: Tonne / Day ▪ C&T: Collection and Transpor
Slide 40: Thank You!
Company: CIN: L90001MH2001PLC130485 Mr. Subramanian NG E: Investor.relations@antonywaste.in ` www.antony -waste.com Investor Relations Advisor: CIN: U74140MH2010PTC204285 Mr. Jigar Kavaiya / Mr. Umang Shah Thank You ! E:mail: jigar.kavaiya@sgapl.net / umang .shah@sgapl.net T: +91 9920602034 / +91 82
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