Waste Management Company Secures Rs 67.7 Crore Contract from Navi Mumbai Municipal Corporation for Green Waste Management!
The company’s shares have delivered an impressive return of over 90 per cent in the past 1 year.
This Small-Cap company specializes in mechanical power sweeping of roads, waste collection and transportation, and waste-to-energy projects. The company has bagged a work order from Navi Mumbai Municipal Corporation.
AG Enviro Infra Projects Private Limited, a material subsidiary of Antony Waste Handling Cell Ltd, has secured an additional contract worth Rs 67.7 crore for the Collection and Transportation (C&T) of Green Waste from Navi Mumbai Municipal Corporation (NMMC).
This new contract adds to the existing project for Door-to-Door Collection and Transportation of Municipal Solid Waste (MSW), bringing the total contract value from NMMC to approximately Rs 976 crore. The contract is for 9 years, and it has been confirmed that the promoter group has no interest in the entity awarding the contract, which does not constitute a related party transaction.
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Currently, the company’s shares are trading at around Rs 712 and the current market capitalization stands at Rs 2020 crore. Additionally, the shares have delivered an impressive return of over 90 per cent in the past 1 year.
As per the Quarterly Results, in the Q1 FY25, Antony Waste Handling Cell Ltd recorded a revenue of Rs 227 crore compared to Rs 222 crore. It reported an operating profit of Rs 49 crore. The net profit stood at Rs 21 crore. Looking at the annual performance, the company generated a revenue of Rs 873 crore in FY24 compared to Rs 854 crore. The operating profit for FY24 was Rs 178 crore with a net profit of Rs 100 crore compared to a loss of Rs 85 crore in FY23.
Disclaimer: The article is for informational purposes only and not investment advice.