Antony Waste Q3 Update – Strong Operations, Big Mumbai Wins & Subsidiary Merger

Antony Waste Handling Cell reported a strong Q3 business update, marked by large municipal contract wins, higher processing volumes, and structural simplification through a completed merger. Major Mumbai C&T Wins Secured two BMC Collection & Transportation (C&T) contracts across 7 wards Revenue potential of ~₹1,330 crore over 7 years Provides long-tenure, annuity-like cash flows and strong revenue visibility Processing & Circular Economy Push Processing tonnage up 26% YoY in Q3 Up 14% YoY in 9M, reflecting scale-up in waste processing Strengthens focus on resource recovery and circular economy New Thane Pre-Processing Facility Won DBOT concession for a 600–800 TPD MRF facility at Atkoli, Thane Estimated capex of ~₹67 crore, to be reimbursed by TMC Enhances long-term asset base with limited balance sheet strain Merger Completed NCLT-approved merger of AG Enviro Infra Projects into Antony Waste completed Benefits include: Improved scale and operational efficiency Better cash flow visibility Reduced compliance and administrative overheads Impact: Positive Large municipal contracts, rising processing volumes, and structural simplification through merger significantly improve revenue visibility, execution strength, and long-term growth outlook. If you found this post helpful, do follow me for more such insights!