Shares of Antony Waste Handling Cell Limited are expected to attract significant attention from investors during trading on Thursday, December 18. This follows a major announcement by the company regarding its subsidiary securing substantial new contracts in Mumbai.
Major Contracts Secured from BMC
In a regulatory filing made after market hours, the waste management firm disclosed that its material subsidiary, AG Enviro Infra Projects Private Limited, has been awarded two significant collection and transportation contracts. The contracts were granted by the Brihanmumbai Municipal Corporation (BMC).
The projects will be executed by a consortium or joint venture. In this partnership, AG Enviro Infra Projects holds a controlling 51% stake. The remaining shares are held by Jigar Transport Company (29%) and MK Enterprises (20%).
As per the company's statement, this joint venture will be responsible for the collection and transportation of roughly 1,250 metric tons per day (MTPD) of municipal solid waste. The operations will cover several key wards within Mumbai.
Management Commentary and Financial Performance
Expressing his views on this development, Jose Jacob, Chairman and Managing Director of Antony Waste Handling Cell Limited, stated that the award reinforces the company's leading position in managing large-scale municipal waste operations across India's urban centers.
He further added, "The seven-year contracts enhance revenue visibility, support our strategy of building a resilient management portfolio, and further strengthen our ability to deliver sustainable growth and long-term value for our stakeholders."
The contract win comes against the backdrop of the company's recent financial performance. For the second quarter of the fiscal year 2025, Antony Waste reported a 16% year-on-year growth in operating revenue, which reached ₹233 crore. This growth was driven by higher volumes and escalated contracts.
The company's net profit for the quarter stood at ₹17.3 crore, marking a 13% increase compared to the same period in the previous fiscal year. During Q2, the company sold about 40,081 tonnes of Refuse Derived Fuel (RDF) and 3,251 tonnes of compost.
Stock Performance and Other Projects
Despite the positive news, the company's share price has faced considerable pressure in the market. Since May 2025, the stock has declined by 36%, partly due to broader market weakness. This fall represents a 50% drop from its peak price of ₹902 per share, which was recorded in July 2024.
In terms of yearly performance, the stock is down by 30% so far in 2025. This is a stark reversal from its gains of 27% in 2024 and a significant 58% rally in 2023.
In another significant development, another key subsidiary, Antony Lara Enviro Solutions Private Limited, has secured two major Waste-to-Energy (WtE) projects. Each project has a capacity of approximately 15 MW and is located in Andhra Pradesh. These projects were awarded by the New & Renewable Energy Development Corporation of Andhra Pradesh.
The new BMC contracts are seen as a crucial positive trigger for the company, providing long-term revenue assurance and potentially improving investor sentiment around the stock in the upcoming sessions.
