Shares of Antony Waste Handling Cell Ltd. rallied nearly 7% to touch a day’s high of Rs 753 on 8th October, after its subsidiary, AG Enviro Infra Projects, secured a Rs 908 crore contract from Navi Mumbai Municipal Corporation.

The nine-year contract focuses on collecting and transporting municipal solid waste. It is expected to support future growth as the Navi Mumbai Municipal Corporation expands to new areas.

Chief Financial Officer NG Subramanian mentioned that additional revenue could be generated due to rising volumes and escalations.

The Rs 908 crore is the minimum revenue expected over nine years, with potential increases as 14 new villages are added to the corporation and the airport development boosts tonnage. Currently, Navi Mumbai generates 760 tonnes of waste per day.

Antony Waste Handling expects a 125-150 basis point margin improvement by FY26, driven by operational efficiency.

The firm is targeting 18% revenue growth and an EBITDA margin of 23-24% for FY25. Due to the time needed to operationalize new assets, full benefits are expected in FY26.

The stock has surged by almost 52% so far in 2024. Currently, the firm’s market capitalisation stands at around Rs 2,130 crore.

At 3:30 PM, the shares of Antony Waste closed 6.89% higher at Rs 753 on NSE.

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