Antony Waste Handling Cell achieves record Rs 221cr revenue in Q3 amid strong RDF, compost sales

Antony Waste Handling Cell Limited, a leading player in India‘s municipal solid waste management sector, reported significant financial growth for the third quarter of the fiscal year 2025. The company’s total operating revenue increased by 15% year-over-year (YoY) to ₹221 crore, reflecting robust performance across waste collection, processing, and sustainable waste solutions. The strong revenue growth was accompanied by an 18% rise in earnings before interest, tax, depreciation, and amortization (EBITDA), which reached ₹59 crore, marking a notable improvement in operational efficiency and profitability.

The EBITDA margin for the quarter improved by approximately 120 basis points to 23.5%, driven by higher revenue from compost and refuse-derived fuel (RDF) sales, increased tipping fees, and enhanced waste-to-energy (WtE) production. This demonstrates the company’s ability to leverage its waste management infrastructure to optimize financial performance while contributing to environmental sustainability.

What Factors Drove Antony Waste’s Revenue Growth in Q3?

Antony Waste Handling Cell’s financial success in the third quarter was underpinned by multiple factors, including higher waste collection volumes, improved contract execution, and increased revenue from waste processing. The company reported ₹162.7 crore in revenue from municipal solid waste collection and transportation, up from ₹138.3 crore in the same quarter last year. Additionally, revenue from waste processing operations increased to ₹58.3 crore, reflecting growing demand for sustainable waste solutions and efficient resource recovery.

Sales of refuse-derived fuel reached approximately 38,500 tonnes during the quarter, while compost sales rose to 6,400 tonnes. These figures highlight the company’s commitment to reducing landfill dependency and promoting circular economy initiatives by transforming waste into valuable resources.

While revenue from contract and other segments declined to ₹28.2 crore from ₹31 crore in the previous year, the overall performance remained strong due to the company’s emphasis on waste-to-energy initiatives and innovative recycling programs.

How Did Waste-to-Energy and Recycling Initiatives Impact Earnings?

One of the standout achievements of the quarter was the 76% plant load factor (PLF) achieved at the company’s Waste-to-Energy (WtE) facility. This high efficiency contributed significantly to the company’s revenue, reinforcing its position as a leader in sustainable waste processing. Additionally, the commercial launch of the Construction & Demolition (C&D) waste recycling project added a new revenue stream, with over 20,000 metric tonnes of waste processed at the Dahisar plant in Mumbai. Impressively, 96% of this waste was successfully recycled into reusable materials, showcasing the company’s leadership in responsible waste management.

Beyond energy recovery, Antony Waste Handling Cell advanced its sustainable waste solutions through a research-driven project in collaboration with IIT Bombay. This initiative explores the use of end-of-life plastics in road construction, aligning with India’s growing emphasis on waste-to-value innovations.

What Does the Chairman Say About the Company’s Growth Strategy?

Jose Jacob, Chairman and Managing Director of Antony Waste Handling Cell, attributed the company’s strong quarterly performance to multiple factors, including operational efficiencies, revenue diversification, and increased green energy generation. He emphasized that the company’s strategy of directly awarding new contracts to its material subsidiaries has streamlined operations and improved financial efficiency.

He also noted that the company’s project re-win in Navi Mumbai reinforces its long-term market position and adds to its order book. With growing urbanization and the rising need for municipal solid waste management, Antony Waste Handling Cell remains well-positioned for sustained growth.

Jacob highlighted that the company is actively working to optimize operations and streamline its group structure to enhance efficiency. The transition from executing projects through multiple special purpose vehicles (SPVs) to awarding contracts directly to subsidiaries has played a key role in strengthening its consolidated financial performance.

How Is Antony Waste Handling Cell Supporting the Circular Economy?

The company’s focus on sustainable waste processing aligns with its broader commitment to environmental responsibility. By investing in advanced waste recovery technologies, Antony Waste Handling Cell is contributing to the circular economy by transforming waste into valuable resources.

During the quarter, the company’s RDF sales totaled approximately 103,000 tonnes for the nine-month period of FY25, while compost sales reached 16,400 tonnes. These figures underscore its ability to process organic and non-recyclable waste into marketable byproducts that contribute to sustainable urban development.

The company’s landfill operations also remain a crucial component of its business. As one of the key players in landfill construction and management, it continues to develop large-scale waste disposal solutions that minimize environmental impact while supporting India’s growing urban infrastructure.

What Is the Future Outlook for Antony Waste Handling Cell?

With the rising demand for waste management solutions in India, Antony Waste Handling Cell is well-positioned to benefit from the increasing emphasis on sustainable waste processing. The company’s focus on waste-to-energy initiatives, recycling, and circular economy principles provides a strong foundation for long-term growth.

By optimizing its operations and expanding its presence in the municipal solid waste sector, Antony Waste Handling Cell aims to maintain its leadership in waste management while reinforcing its role in driving sustainable urban development. As government policies continue to promote green energy and waste reduction, the company’s expertise in sustainable waste solutions will likely open new revenue opportunities.

As India moves towards a more sustainable future, Antony Waste Handling Cell remains at the forefront of innovation, driving impactful change in waste management while strengthening its financial performance.