Antony Waste Handling Q4 net profit rises by 144%YoY. EBITDA up 11% YoY

Antony Waste Handling on Friday announced a 144% year-on-year (YoY) growth in its net profit to ₹30.2 crore for the fourth quarter of the financial year 2024. The company recorded a 4% YoY growth in its consolidated revenue at ₹217.5 crore.

Below are some of the other highlights from the company’s quarterly results:

•    Earnings before interest, taxes, depreciation, and amortisation (EBITDA) in Q4 grew 11% YoY to ₹43.5 crore. 
  

•    The EBITDA margin during the quarter expanded to 20% compared to 18.8% in the corresponding period last year. 
  

•    Net profit margin for the quarter rose to 13.9% compared to 5.9% last year.
  

For the financial year ended March 31, 2024, the company’s net profit saw an 18% YoY growth to ₹99.9 crore. The total consolidated revenue during the year grew 2% YoY to ₹896.4 crore. Despite the rise in profit, shares of Antony Waste Handling were trading lower by 3.3% on Monday.

The company said it has seen improvements in its cash flow as it secured collections from clients during the year. The company has launched a construction and debris processing project in Mumbai and will commence commercial operations at the CIDCO biomining site in the first quarter of FY25.

“Total operating revenue, excluding contract revenue but including revenue from the sale of recyclables and refuse derived fuel (RDF), stood at ₹829 crore, reflecting a 21% year-over-year growth. This uptick is attributable to enhanced operational efficiency, driven by increases in tipping fees and revenue from fixed shifts, trips, and household fees,” said Jose Jacob, Chairman and Managing Director of the company.

The company said that during the year, it successfully secured contracts across businesses. Below are some of the key highlights:

•   The Group expects to build on the operational success of the Waste to Energy plant in Moshi, which has a power generation capacity of 14 MW. “This plant has achieved an impressive Plant Load Factor (PLF) of around 71% during its inaugural full quarter of operation, marking a significant milestone. The company’s objective is to stabilize this performance at around 80% moving forward,” the company noted. 
  

•   Additionally, the company signed a contract worth around ₹386 crore for a C&T project of MSW with the Panvel Municipal Corporation. PMC will procure the entire infrastructure for the project, making it an asset-light model. 
  

•   The company also bagged a bio-mining contract in CIDCO valued at around ₹77 crore, involving around ₹8.6 lakh tonnes of legacy waste, with an execution timeline of 730 days. 
  

The company has grown its revenues by an annualised 23.1% and profit by 24.2% over the past three years.

“As we close FY24 and move past the bulk of our capex phase for existing projects, we are confident about reaching significant milestones. This confidence is bolstered by the launch of a construction and debris processing project in Mumbai and increased power sales in PCMC,” the company’s CMD said in the statement.