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Net sales (including
other operating income) of Antony Waste Handling Cell has increased 61.73% to
Rs 235.11 crore. Sharp growth in revenue from operations was largely
driven by 340% jump in contract revenue to Rs 83.60 crore. The C&T revenue
was up 21% to Rs 115 crore and
processing was up 14% to RS 41.10 crore. Higher C&T and processing is
largely due to increase
in tonnages handled and processed of around 1.05 million tons which is up 17.0%
y-o-y. The growth in volumes tracks the economic activities which has improved
across all regions where the Company provides services.
Operating profit margin
has declined from 25.7% to 18.7%, leading to 18% rise in operating profit to Rs
44.01 crore. Purchase of finished goods cost fell from 0.17% to
0.06%. Employee cost decreased from 31.41% to 21.25%.
Other expenses rose from 42.71% to 59.96%. Other direct
service cost rose from 5.19% to 27.55%.
Other income rose 5.54%
to Rs 4.57 crore. PBIDT rose 16.44% to Rs 48.58
crore. Provision for interest rose 2.40% to Rs 5.55
crore.
PBDT rose 18.54% to Rs
43.03 crore. Provision for depreciation rose 4.01% to Rs 8.31
crore.
Profit before tax grew
22.64% to Rs 34.72 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 6.07 crore, compared to
Rs 5.95 crore. Effective tax rate was 17.48% compared to 21.02%.
Minority interest
decreased 2.68% to Rs 5.45 crore. Net profit attributable to owners
of the company increased 38.42% to Rs 23.20 crore.
Management Comment
Commenting on the results, Jose Jacob,
Chairman & Managing Director, Antony Waste Handling Cell Limited said, “In line with our expectations, we
have started the financial year on a strong note. The group has reported
highestever quarterly operating revenues of ? 156 crores. The operating revenue
for the quarter was up by 19% y-o-y, driven by volumes growth, pricing benefits
and new projects witnessing ramp up. EBITDA has increased by 17% YoY whereas our
consolidated PAT registered a growth of 28% YoY in Q1 FY23. The bio-mining activity
at our first cell in Kanjurmarg is progressing well, despite heavy rains
witnessed in the month of June. To support this, we are happy to inform that in
the month of July, the site has despatched record tonnage of Compost, and RDF.
This also follows a record month of new compost orders being bagged. The
construction activity at our Pimpri Chinchwad Waste to Energy Project is
progressing well and we reiterate that we expect the plant to be fully
operational by the end of FY23. In order to strengthen our leadership team
further, the Company has appointed Mr. Mahendra Ananthula as Group President
(Operations, Business Development & Diversification) to its leadership
team. He has over 30 years of functional experience, the last 25 of which have
been in the infrastructure sector, with extensive experience in Corporate
Strategy, Project Development, Sales and Business Development, and Consulting
in Urban Infrastructure. He has extensive experience of working with government
and private sector companies. His appointment will enable us to grow faster and
diversify our presence further in our related area of expertise i.e. Solid
Waste Management. ESG is more than a checkbox item. It all comes down to making
a difference, both for your company and for the rest of the society.
Approximately 8% of our total fleet now is made up of electric and CNG
vehicles. Waste processing and conversion into compost, energy, and refuse
derived fuel aids in the reduction of greenhouse gas (GHG) emissions. At our
Kanjurmarg site, of the total energy consumed, approximately 85% of this is of
renewable nature, generated using bioreactor technology by converting gas into
energy. We will continue to deploy sustainable business practices which will
help lead us towards our long-term commitment of “Sustainability with Growth”.
Promoters’ stake was
46.23% as of 30 June 2022, compared to 46.23% as of 30 June 2021. | Antony Waste Handling Cell : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 235.11 | 145.37 | 61.73 | 648.42 | 465.05 | 39.43 | | OPM (%) | 18.72 | 25.72 | -700 bps | 22.84 | 24.63 | -179 bps | | OP | 44.01 | 37.39 | 17.71 | 148.12 | 114.56 | 29.29 | | Other Inc. | 4.57 | 4.33 | 5.54 | 18.37 | 15.71 | 16.93 | | PBIDT | 48.58 | 41.72 | 16.44 | 166.49 | 130.27 | 27.80 | | Interest | 5.55 | 5.42 | 2.40 | 20.49 | 28.46 | -28.00 | | PBDT | 43.03 | 36.30 | 18.54 | 146.00 | 101.81 | 43.40 | | Depreciation | 8.31 | 7.99 | 4.01 | 33.31 | 31.22 | 6.69 | | PBT | 34.72 | 28.31 | 22.64 | 112.69 | 70.59 | 59.64 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 34.72 | 28.31 | 22.64 | 112.69 | 70.59 | 59.64 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 34.72 | 28.31 | 22.64 | 112.69 | 70.59 | 59.64 | | Taxation | 6.07 | 5.95 | 2.02 | 22.29 | 6.52 | 241.87 | | PAT | 28.65 | 22.36 | 28.13 | 90.4 | 64.07 | 41.10 | | Minority Interest (MI) | 5.45 | 5.6 | -2.68 | 22.51 | 19.03 | 18.29 | | Net profit | 23.2 | 16.76 | 38.42 | 67.89 | 45.04 | 50.73 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 23.2 | 16.76 | 38.42 | 67.89 | 45.04 | 50.73 | | EPS (Rs)* | 8.20 | 5.92 | 38.42 | 24.00 | 15.92 | 50.73 | | | * EPS is on current equity of Rs 14.14 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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