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Consolidated Net sales (including other operating income) of Antony Waste Handling Cell for the quarter ended Dec 2022 has increased 34.84% to Rs 217.53 crore. Operating profit margin has declined from 19.69% to 13.55%, leading to 7.18% decline in operating profit to Rs 29.48 crore. Purchase of finished goods cost fell from 0.15% to 0.04%. Employee cost decreased from 32.66% to 25.39%. Other expenses rose from 47.51% to 61.03%. Other direct service cost rose from 3.59% to 20.95%. Other income rose 6.70% to Rs 4.78 crore. PBIDT fell 5.46% to Rs 34.26 crore. Provision for interest rose 22.20% to Rs 6 crore. PBDT fell 9.80% to Rs 28.26 crore. Provision for depreciation rose 10.96% to Rs 9.62 crore. Profit before tax down 17.74% to Rs 18.64 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 2.62 crore, compared to Rs 3.65 crore. Effective tax rate was 14.06% compared to 16.11%. Minority interest decreased 32.78% to Rs 4.02 crore. Net profit attributable to owners of the company decreased 7.90% to Rs 12.00 crore. Nine month performance
Net sales (including other operating income) of Antony Waste Handling Cell has increased 41.78% to Rs 652.48 crore. Operating profit margin has declined from 23.17% to 17.55%, leading to 7.42% rise in operating profit to Rs 114.53 crore. Purchase of finished goods cost fell from 0.15% to 0.07%. Employee cost decreased from 31.87% to 24.52%. Other expenses rose from 44.81% to 57.86%. Other direct service cost rose from 3.96% to 21.08%. Other income rose 2.25% to Rs 14.07 crore. PBIDT rose 6.83% to Rs 128.6 crore. Provision for interest rose 8.61% to Rs 17.91 crore. PBDT rose 6.55% to Rs 110.69 crore. Provision for depreciation rose 6.09% to Rs 26.3 crore. Profit before tax grew 6.69% to Rs 84.39 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 12.21 crore, compared to Rs 14.13 crore. Effective tax rate was 14.47% compared to 17.86%.Minority interest decreased 20.30% to Rs 13.66 crore. Net profit attributable to owners of the company increased 22.35% to Rs 58.52 crore. Operational Key Highlights In Q3FY23, the Company reported quarterly operating revenue of 158 crores, up 6% year on year, helped by
incremental contributions from its new Nashik C&T project, which began operations in December 2022, and the
benefits of rate escalation were reflected in tipping fees.
? The Company handled 1.05 million tonnes of waste (C&T and Processing) during the quarter, a 4% y-o-y increase.
For 9MFY23, it was 3.15 million tonnes, a 9% increase year on year.
? Total waste processed for Q3FY23 was ~0.64 million tonnes, an increase of 7% y-o-y.
? Total tonnage handled by the C&T business (excluding those projects with fixed shifts/trips/household units) in
Q3FY23 was ~0.40 million tons (flat on a y-o-y basis).
? The quarter saw record sales of Refuse Derived Fuel ("RDF"), at 15,337 tonnes. During Q3FY23, due to the
extended monsoon season, total compost sales was lower at 1,716 tonnes as compared to 3,144 tonnes in Q3FY22.
This decline is expected to be made up in the next quarter.
? The Company during the quarter has recycled ~88 tonnes at its Varanasi site which in turn prevents the waste from
ending up at the local landfill.
? MSW C&T sales are up by 5% to ? 114 crores in Q3FY23 as compared to ? 109 crores in Q3FY22.
? MSW Processing sales are up by 11% at ? 44 crores in Q3FY23 as compared to ? 39 crores in Q3FY22 Others Promoters’ stake was 46.23% as of 31 December 2022 ,compared to 46.23% as of 31 December 2021 . Promoters pledged stake was 0.08% as of 31 December 2022
Management Comments :
Commenting on the results, Jose Jacob, Chairman & Managing Director, Antony Waste Handling Cell Limited
said,
“Strong on ground execution by the team has resulted operating revenue growth of 6% in Q3 FY23 on YOY basis. This
growth also captures incremental contributions from our new Nashik C&T project, which began operations in December
2022, as well as tipping fees escalation to take into account the inflation in various costs. In Q3 FY23, EBITDA de-grew
by 5% YOY, while consolidated PAT de-grew by 16% YOY.
I am happy to inform you that we have been awarded first of its kind contract for Collection, Transportation, Processing,
and Disposal of Construction & Demolition (C&D) Waste in Mumbai City. This subsegment of waste offers huge
opportunity considering the infrastructure growth across the country. Bagging this contract provides us with a head start
along with building a strong track record for future bids. C&D materials consists of debris generated from the
construction, renovation, and demolition/ redevelopment of buildings, roads, and bridges. We would use the Sustainable
Material Recovery approach, which identifies specific C&D materials as commodities that can be re-used in new
construction projects.
Bio-mining activities at our Kanjurmarg integrated waste processing site progressed well during the quarter. Demand for
our RDF has been strong due to its high calorific value, which has resulted in record RDF sales of 15,337 tonnes. Our
Pimpri Chinchwad Waste to Energy Project is on track to commence operations in Q1 FY24.
Our subsidiary Antony Lara Enviro Solutions Private Limited has been assessed and found to be in compliance with ISO
14001:2015 and ISO 9001:2015 certification requirements. The ISO 14001:2015 certificate demonstrates our
commitments towards managing our environmental responsibilities in a systematic manner that contributes to the
environmental pillar of sustainability whereas ISO 9001:2015 certificate demonstrates the quality of management systems
we follow as an organization. The award of these certificates is a proud moment for us and is a testimony of hard work put
in by our employees.
Our entire business, including the 360-degree recycling solutions, has a long-term strategic vision. In the future, we hope
to win new contracts and provide quality services to the corporation. In the recent budget, the Government of India
announced several initiatives aimed at Swachh Bharat as well as Greener India and we are placed in forefront to capitalize
on these opportunities.”
| Antony Waste Handling Cell : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 217.53 | 161.32 | 34.84 | 652.48 | 460.19 | 41.78 | 648.42 | 465.05 | 39.43 | | OPM (%) | 13.55 | 19.69 | -614 bps | 17.55 | 23.17 | -562 bps | 22.84 | 24.63 | -179 bps | | OP | 29.48 | 31.76 | -7.18 | 114.53 | 106.62 | 7.42 | 148.12 | 114.56 | 29.29 | | Other Inc. | 4.78 | 4.48 | 6.70 | 14.07 | 13.76 | 2.25 | 18.37 | 15.71 | 16.93 | | PBIDT | 34.26 | 36.24 | -5.46 | 128.60 | 120.38 | 6.83 | 166.49 | 130.27 | 27.80 | | Interest | 6.00 | 4.91 | 22.20 | 17.91 | 16.49 | 8.61 | 20.49 | 28.46 | -28.00 | | PBDT | 28.26 | 31.33 | -9.80 | 110.69 | 103.89 | 6.55 | 146.00 | 101.81 | 43.40 | | Depreciation | 9.62 | 8.67 | 10.96 | 26.3 | 24.79 | 6.09 | 33.31 | 31.22 | 6.69 | | PBT | 18.64 | 22.66 | -17.74 | 84.39 | 79.1 | 6.69 | 112.69 | 70.59 | 59.64 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 18.64 | 22.66 | -17.74 | 84.39 | 79.1 | 6.69 | 112.69 | 70.59 | 59.64 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 18.64 | 22.66 | -17.74 | 84.39 | 79.1 | 6.69 | 112.69 | 70.59 | 59.64 | | Taxation | 2.62 | 3.65 | -28.22 | 12.21 | 14.13 | -13.59 | 22.29 | 6.52 | 241.87 | | PAT | 16.02 | 19.01 | -15.73 | 72.18 | 64.97 | 11.10 | 90.4 | 64.07 | 41.10 | | Minority Interest (MI) | 4.02 | 5.98 | -32.78 | 13.66 | 17.14 | -20.30 | 22.51 | 19.03 | 18.29 | | Net profit | 12 | 13.03 | -7.90 | 58.52 | 47.83 | 22.35 | 67.89 | 45.04 | 50.73 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 12 | 13.03 | -7.90 | 58.52 | 47.83 | 22.35 | 67.89 | 45.04 | 50.73 | | EPS (Rs)* | 4.24 | 4.61 | -7.90 | 20.69 | 16.91 | 22.35 | 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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