India · Delayed Price · Currency is INR Antony Waste Handling Cell Earnings Call Transcripts
Fiscal Year 2027
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Revenue grew 6% year-on-year to INR 269 crore, but EBITDA margin fell to 16.8% due to non-recurring costs and higher expenses. New contracts and refinancing are set to improve margins and growth in H2 FY 2027, with volume expansion expected from BMC and Atkoli projects.
Fiscal Year 2026
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Celebrating 25 years, the company reported 9% revenue growth and steady margins, with a record INR 18,000 crore order book supporting a 15%-20% revenue CAGR outlook. New WTE projects, EPR expansion, and policy-driven C&D growth underpin future performance.
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Q3 FY26 saw 9% revenue growth and strong execution, with major project wins in Mumbai and Thane expanding long-term revenue visibility. EBITDA margin guidance remains at 22%-23%, and revenue is expected to reach INR 1,200 crore in FY27, supported by new waste-to-energy projects.
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Q2 FY 2026 saw 16% revenue growth and 18% EBITDA growth, with robust performance across segments and new WTE projects secured. Margins remain strong, and the company maintains a positive outlook with ongoing expansion and operational improvements.
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Q1 FY 2026 saw 13% revenue growth, record waste processing, and strong WTE performance with 84% PLF. EBITDA margin held at 24%, net debt reduced, and new project bids are expected to drive future growth.
Fiscal Year 2025
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Strong revenue and EBITDA growth in FY25 was driven by robust waste processing, favorable arbitration gains, and strategic contract renewals. The company maintains a healthy order book and targets 20-25% CAGR in operating cash flow over the next 3-5 years.
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Q3 FY25 saw record operating revenue and EBITDA growth, driven by strong C&T and processing segments, contract escalations, and new project ramp-ups. Outlook remains robust with 15%-18% revenue growth expected next year and a 25% CAGR over 3-5 years, despite upcoming large CapEx for new WTE projects.
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Q2 FY25 saw stable revenue at INR 200 crores, with core growth of 6% after adjusting for one-offs. EBITDA margin was 21.4%, and a major INR 976 crore contract was secured. Guidance remains strong, with 14%-18% H2 growth expected and a 23% EBITDA margin targeted.
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Q1 FY25 saw 11% revenue growth and a 6% EBITDA increase, driven by strong waste-to-energy operations and new project contributions. EBITDA margin held at 23.8%, with improved cash flow and robust guidance for 14%-18% core revenue growth.