Antony Waste Q1 FY27: Tonnage Up 5.4%, Refinancing Cuts Debt Cost
Antony Waste Handling Cell Limited reported Q1 FY27 operational highlights with total tonnage up 5.4% YoY to 1.40 million tonnes and core revenue up 7%. The company successfully refinanced a subsidiary's term loan, reducing interest costs by 200 bps to 8.25%. Subsequently, a force majeure event occurred at the PCMC WtE plant on July 8, 2026, due to heavy rains, resulting in tragic loss of life.
The force majeure event at the PCMC WtE facility, resulting in fatalities and structural damage, has a high impact on the company due to the tragic loss of life, operational disruption, and the commitment to extensive support for the affected families. The refinancing, while positive, is overshadowed by the severe impact of the natural calamity.
While the Q1 FY27 operational and financial performance showed positive trends (tonnage growth, refinancing), the subsequent force majeure event at the PCMC WtE plant, leading to loss of life and structural damage, significantly overshadows these positives, resulting in a negative sentiment.
Antony Waste Handling Cell Limited reported its business update for the quarter ended June 30, 2026 (Q1 FY27), highlighting steady operational performance and a significant refinancing achievement.
The company managed a total tonnage of approximately 1.40 million tonnes, marking a 5.4% increase year-on-year. Collection & Transportation (C&T) volumes grew by 5.1% YoY to about 0.55 million tonnes, while Processing volumes increased by 5.5% YoY to approximately 0.85 million tonnes. Core revenue saw a growth of about 7% YoY.
Sales of Refuse-Derived Fuel (RDF) stood at approximately 40,000 tonnes, showing a 28% YoY decline. This decrease is attributed to the completion of the CIDCO biomining project in the prior year's comparable quarter. Compost sales remained stable at around 6,000 tonnes.
A key financial highlight was the successful refinancing of the term loan for Antony Lara Renewable Energy Private Limited, its material subsidiary operating the Pimpri Chinchwad Waste-to-Energy facility. The interest rate was reduced from 10.25% per annum to 8.25% per annum, a reduction of 200 basis points. This move is expected to lower the interest burden, enhance free cash flow, and improve overall returns from the Waste-to-Energy asset, optimizing the capital structure.
Subsequent to Q1 FY27, on July 8, 2026, the Pimpri Chinchwad Waste-to-Energy Facility experienced a force majeure event due to exceptionally heavy monsoon rainfall. Accumulated waste in a legacy landfill outside the company's operational control collapsed, causing structural damage to the administrative building. Tragically, nine employees lost their lives, and fourteen were rescued. The company has committed to covering all funeral expenses, providing ₹25,00,000 in financial assistance per deceased employee, offering employment to next of kin, and bearing the educational expenses of minor children. Medical coverage is also extended to injured employees.
The Material Recovery Facility (MRF) and composting plant are now fully operational, and the company is committed to the phased restart of the remaining facility. Further updates will be provided quarterly.
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