Antony Waste Handling Cell Ltd - Q3FY23 Business Update

Antony Waste Handling Cell Ltd in its endeavour towards sustainable development, is reporting yet another quarter of solid and sustainable growth. The quarter witnessed record sales of Refuse Derived Fuel ("RDF") which stood at 15,337 tons.

The total tonnage handled stood at approx. 1.05 million tons (+4% YoY) with seasonal weakness at its Collection & Transportation (C&T) operations, offset by continued growth at its processing contracts. In its C&T business for Q3 FY23 the Company managed approximately 0.40 million tons (almost flat on a YoY basis), while Waste Processing handled about 0.64 million tons, an increase of 7% YoY. For the nine months period ended December 31, 2022, total tonnage handled (across C&T and Waste Processing) stood at appx 3.15 million tons, an increase of 9% YoY.

Please note that the total tonnage handled by the C&T business excludes those projects whose billing is based on fixed shifts / trips / household counts.

1. Total Operating Revenue (tipping revenue from C&T, Waste Processing and Mechanical Power Sweeping) for Q3FY23 has improved by approximately 7% YoY (including various escalations and revenues from fixed shifts / trips / household fees). The quarter saw incremental contributions from its new projects (the Nashik C&T project started operations in December 2022), and the benefits of rate escalation continued to be reflected in the tipping fees.

2. The total sale of compost were down at 1,716 tons vs. 3,144 tons in the same quarter of previous year (weighed by extended monsoon conditions). The Company expects this shortfall to be made up in the current quarter.

Further, the Company in continuation with its cluster-focused business approach, has bagged 7-year mechanical power sweeping contract from Pimpri Chinchwad Municipal Corporation (PCMC). The contract is for the supply of 4 Nos of Power Sweeping Machine and requires ~161 km of road to be attended to, daily.

Additionally, true to its goal of creating a sustainable and 360-degree resource recycling organization, the Company has managed to recycle appx. 88 tons at its Varanasi site. In this way, it has prevented the waste from ending up at the local landfill.

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

Shares of Antony Waste Handling Cell Limited was last trading in BSE at Rs. 304.00 as compared to the previous close of Rs. 304.40. The total number of shares traded during the day was 1324 in over 189 trades.

The stock hit an intraday high of Rs. 310.00 and intraday low of 303.15. The net turnover during the day was Rs. 404241.00.

Source : Equity Bulls

Keywords

AntonyWasteHandlingCell INE01BK01022 AWHCL Q3FY23 BusinessUpdate