Antony Waste Handling Cell Limited (AWHCL) has released the transcript of its earnings call held on June 1, 2026, discussing the operational and financial performance for Q4 and the full fiscal year 2026. The company celebrated its 25th anniversary, reflecting on its journey in waste management. During the call, the Board recommended a maiden dividend of ₹0.50 per equity share, representing 10% of the face value, to reward shareholders. The company highlighted significant additions to its platform in FY26, including entry into the EPR business, securing two waste-to-energy (WTE) projects in Andhra Pradesh, two new collection and transportation contracts in Mumbai, and a preprocessing solid waste facility in Thane. A strategic partnership with Japan's JFE Engineering for WTE development and the merger of AG Enviro Infra Projects were also noted. Operational performance saw C&T volumes grow by approximately 9% year-on-year to 2.12 million tons, and processing volumes expanded by approximately 19% to 3.6 million tons. Total MSW managed for the year rose by 15% to 5.69 million tons. In Q4 FY26, processing volumes grew by 32% to 1.15 million tons, with total quarterly MSW handled increasing by 23% to 1.67 million tons. The Pimpri-Chinchwad Municipal Corporation (PCMC) waste-to-energy facility generated 69.3 million units of green power and avoided approximately 10,000 tons of CO2e emissions in FY26. The construction and demolition recycling facility achieved a 96% recycling rate, and annual RDF sales reached 177,000 tons, up 20% year-on-year. Operating revenue for FY26 reached ₹920 crores, an increase of 9%, while Q4 operating revenue was ₹254 crores, up 14%. Core operational revenue, including project revenue, crossed ₹1,000 crores for the first time. EBITDA margins were maintained at around 22% for both Q4 and the full year. Reported profit after taxes (PAT) for the full year was ₹92 crores. Adjusted for a one-time income of ₹24 crores in FY25, Q4 PAT increased by approximately 67% and full-year PAT rose by 20%. As of March 2026, the group's gross debt was approximately ₹426 crores, with cash and bank balances around ₹123 crores, resulting in a net debt of approximately ₹302 crores. The net debt to equity ratio stood at 0.3x. The company's order book reached an all-time high of ₹18,000 crores. In a significant development for Q1 FY27, the Supreme Court dismissed the Bhiwandi Nizampur City Municipal Corporation's Special Leave Petition in a long-standing arbitration matter, directing the corporation to disburse a settlement amount of ₹15 crores within 3 months with interest. The company reiterated its confidence in delivering a 15% to 20% revenue CAGR over the next 5 years, supported by its order book and project pipeline.
