Synopsis:
Antony Waste has set up a step-down subsidiary, Kadapa Renew Energy Pvt. Ltd., for a ~15 MW Waste-to-Energy project in Andhra Pradesh.
The shares of India’s leading integrated solid waste management company, specializing in integrated solid waste management services, are in focus following the incorporation of Kadapa Renew Energy Pvt Limited for executing a ~15 MW Waste-to-Energy project.
With a market capitalization of Rs. 1,644.88 crores on Wednesday, the shares of Antony Waste Handling Cell Limited jumped upto 1.7 percent, making a high of Rs. 582.00 per share compared to its previous closing price of Rs. 572.10 per share.
What Happened
Antony Waste Handling Cell Limited, engaged in comprehensive Municipal Solid Waste (MSW) management, has announced the incorporation of a step-down subsidiary named Kadapa Renew Energy Private Limited, through its material subsidiary Antony Lara Enviro Solutions Pvt. Ltd.
This new Special Purpose Vehicle (SPV) has been formed to execute a ~15 MW Waste-to-Energy project awarded by the New & Renewable Energy Development Corporation of Andhra Pradesh.
The SPV will handle the processing of municipal solid waste and convert it into energy.. Antony Waste indirectly holds a 73% stake in the new entity through its subsidiary. This development aligns with the company’s core business of solid waste management and supports its strategic growth in renewable energy projects.
Financials & Others
The company’s revenue rose by 8.97 percent from Rs. 227 crore to Rs. 247 crore in Q1FY25-26. Meanwhile, the Net profit rose from Rs. 21 crore to Rs. 23 crore during the same period.
Antony Waste Handling Cell Limited is one of the leading companies in India’s municipal solid waste (MSW) management sector, providing a comprehensive range of services that include waste collection, transportation, processing, and disposal across the country. Founded in 2001 and headquartered in Thane, Maharashtra, and is recognized as a pioneer in adopting innovative and sustainable waste management practices.
The company has over 20 years of operational experience. The company has completed and is executing 35+ projects across 9 states and operates the largest single-location waste processing plant in Asia.
It has processed over 20.36 million metric tonnes of waste and generated more than 164 million green units as of June 2025. With a fleet of ~2,591 vehicles, partnerships with 23+ municipal bodies, and over 10,000 full-time employees, it manages ~90% of Mumbai’s waste, demonstrating strong market leadership and operational excellence.
As of FY25, Antony Waste’s revenue is strategically diversified across three main segments: MSW Collection & Transportation (C&T) contributes the largest share at 61%, involving door-to-door waste collection and transport to disposal sites, with 15 ongoing contracts averaging 7.7 years.
MSW Processing makes up 27%, covering sorting, composting, and recycling of waste, with 3 processing and 1 C&D project, averaging 23 years in duration. The remaining 12% comes from Contracts & Others, which includes street sweeping, scrap sales, and DBOOT projects, with revenue based on area covered and contract terms.
Written By Sridhar J
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