Antony Waste Handling Cell Ltd - Q1FY23 Business Update

Antony Waste Handling Cell Limited has announced the business update for the first quarter ended June 30, 2022("Q1FY23").

The company continues its strong trend, with Q1FY23 reporting record high core operating revenues. For Q1FY23, the Company handled 1.05 million tons, which is an increase of 17.0% YoY. In its Collection & Transportation Business, the Company managed approximately 0.40 million tons, an increase of 15.8% YoY while total tonnage processed at Waste Processing stood at 0.65 million tons, an increase of 17.8% YoY. The sharp increase in the latter is a reflection of improving operations at its biomining project in GNIDA.

Total Operating Revenue (tipping revenue from C&T, Mechanical Power Sweeping and Waste Processing) for Q1FY23 has improved by approximately 26% YoY (including various escalations and revenues from fixed shifts/trips/household fees). The quarter saw a strong and continued improvement in economic activities across all the regions where the Company provides services Please note that the total tonnage handled by the Collection & Transportation business excludes those projects with fixed shifts/trips/households.

Total compost sales stood at 4,406 tons as compared to 3,339 tons in the previous quarter (+32.0% seq.) due to seasonal factors. On a YOY basis, it is down 9.2%, due to a delay in offtake by a client. The same is expected to be remedied in Q2FY23.

While computing core operating revenues, the Company excludes revenue from Contract income under the Ind AS 115 - Revenue from Contracts with Customers.

The Company through its wholly owned subsidiary, bagged a 5-years C&T contract for two zones (Panchavati and Satpur) in the city of Nashik. We expect the project to commence operations on or before September 30, 2022.

The above information is on consolidated basis and subject to a limited review by the management team.

The Company will continue to provide the above update at the end of every quarter for the current financial year.

Shares of Antony Waste Handling Cell Limited was last trading in BSE at Rs. 296.90 as compared to the previous close of Rs. 285.65. The total number of shares traded during the day was 5384 in over 940 trades.

The stock hit an intraday high of Rs. 305.00 and intraday low of 284.40. The net turnover during the day was Rs. 1568283.00.

Source : Equity Bulls

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AntonyWasteHandlingCell INE01BK01022 AWHCL BusinessUpdate Q1FY2023