Antony Waste Handling Cell shares jumped 6.5 per cent and registered an intraday high of Rs 830 per share on BSE. The waste management company’s scrip advanced after it informed that it has collected and transported (C&T) a record amoung of waste materials at 0.49 tonnes in the quarter ended September 30, 2024.
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Further, the company’s combined tonnage for C&T and processing reached 1.19 million tonnes in the quarter under review, implying a 4 per cent increase year-over-year (Y-o-Y). Meanwhile, organic growth in volumes handled by the company rose by 6.9 per cent Y-o-Y, excluding expired contracts in the second quarter, as per the company’s exchange filing.
In H1FY25, the total Municipal Solid Waste (MSW) volume managed by Antony Waste stood at 2.38 million tonnes, after adjusting for expired and completed projects. This implies an increase of 6.8 per cent Y-o-Y.
Further, the Pimpri Chinchwad Municipal Corporation (PCMC) Waste-to-Energy (WtE) plant achieved a Plant Load Factor (PLF) of 71 per cent since its commissioning on October 7, 2023.
As per the company’s exchange filing, during the September quarter, the company sold 30,500 tonnes of refuse derived fuel (RDF) and 4,000 tonnes of compost. For H1FY25, RDF reached 64,750 tonnes and compost was recorded at 10,200 tonnes, reflecting an Y-o-Y growth of 13.8 per cent and over 100 per cent, respectively.
Meanwhile, in the same period, a subsidiary of Antony Waste secured a Rs 908 crore C&T contract from the Navi Mumbai Municipal Corporation for the third consecutive term.
The company’s subsidiary, AG Enviro, also received an upgrade in its credit rating to BBB with a ‘Stable’ outlook, from CARE Ratings.
Antony Waste Handling Cell is involved in waste management services in India. They handle municipal solid waste management, providing solutions for waste collection, processing, and disposal.
The company’s operations often include setting up waste processing facilities and implementing strategies to reduce landfill use.
In the past one year, Antony Waste shares have gained 81 per cent, compared to the BSE Sensex’s rise of 23 per cent during the same period.
First Published: Oct 16 2024 | 2:07 PM IST
