Net profit for period: Q1 FY27: 18.20; Q4 FY26: 737.29; Q1 FY25: 116.05
Earnings per share (₹5 face value): Q1 FY27 Basic: 0.48, Diluted: 0.48; Q4 FY26: 2.60; Q1 FY25: 0.41
Key Operational and Legal Matters
Trade Receivables Recovery Issues
₹1,500.00 lakhs due from Municipal Corporation: Supreme Court dismissed Municipal Corporation's SLP on May 5, 2026, upholding conciliation arrangement. Supreme Court directed Municipal Corporation to discharge outstanding dues with interest consequences for delay. The stipulated period has lapsed, and company issued formal reminder letter.
₹1,946.88 lakhs due from another Municipal Corporation: Overdue for considerable period but Municipal Corporation made steady repayments including ₹502.12 lakhs during current quarter. Company received balance confirmation and communication that State Government approval obtained for remittance.
Income Tax Department Proceedings
Income Tax Department conducted searches at business premises and directors' residences in October 2021.
Demand orders received u/s 143(3) and 147 of Income-tax Act for AY 2015-16 to AY 2022-23 primarily related to expense disallowances.
Appeals filed with CIT(A) and rectification applications with AO.
Subsequent to quarter end, company received favorable partial orders u/s 250 for AY 2015-16 to AY 2018-19 where certain deductions allowed by CIT(A).
No material adjustments made in financial results as management believes company's position is well-supported.
Kanjurmarg Landfill Matter
Bombay High Court judgment dated May 2, 2025 set aside 2009 de-notification of approximately 120 hectares at Kanjurmarg landfill, restoring protected forest status.
SLPs filed by Antony Lara Enviro Solutions Private Limited, BMC, and State of Maharashtra.
Supreme Court stayed Bombay High Court judgment on August 1, 2025, preserving status quo and continuing landfill operations.
Next hearing scheduled on August 12, 2026.
Separate PIL regarding odor, gas emissions, and health issues at Kanjurmarg: Bombay High Court order dated January 21, 2026 expanded monitoring committee. Order dated July 15, 2026 noted compliance measures implemented. Next compliance review scheduled on August 12, 2026.
Force Majeure Event
On July 8, 2026 (post-quarter), Antony Lara Renewable Energy Private Limited's waste-to-energy facility at Pimpri Chinchwad, Pune affected by exceptional force majeure event.
Unusually heavy monsoon rainfall caused municipal waste from adjacent legacy landfill to collapse onto facility, damaging administrative building and resulting in loss of life and injuries to employees.
Core waste-processing and power-generation infrastructure not affected.
MRF/Composting operations resumed on July 28, 2026; WtE operations to resume after OEM and Hitachi Zosen inspection and certification.
Financial impact (asset damage, employee compensation, support costs net of insurance recoveries) under evaluation and cannot be reliably estimated. Will be recognized in Q2 FY27 results.
Merger with AG Enviro Infra Projects Private Limited
Scheme of merger by absorption approved by NCLT Mumbai on December 18, 2025 with appointed date April 1, 2025.
Effective date: December 31, 2025 (filed with ROC Mumbai).
Comparative financial information for Q1 FY25 restated: Revenue increased from ₹875.13 lakhs to ₹14,675.41 lakhs; Net profit increased from ₹18.10 lakhs to ₹116.05 lakhs.
Other Matters
Company issued 4,414 equity shares in Q1 FY26 and 6,770 equity shares in Q2 FY25 pursuant to AWHCL ESOP 2022 scheme exercise at premium of ₹165 per share.
New Labour Codes implemented from November 21, 2025: Recognized impact of ₹522.83 lakhs in consolidated and ₹486.34 lakhs in standalone results for FY26 under employee benefits expense.
Entities Included in Consolidated Results
Subsidiaries
Antony Lara Enviro Solutions Private Limited
Antony Lara Renewable Energy Private Limited
Varanasi Waste Solutions Private Limited
Antony Recycling Private Limited
AL Waste Bio Remediation LLP
Kadapa Renew Energy Private Limited
Kurnool Renew Energy Private Limited
Mumbai Eco Solutions Private Limited
Associate
Home Management and Care Givers Sector Skill Council
Auditor's Review
Walker Chandiok & Co LLP conducted limited review of financial results.
Auditors drew attention to uncertainty regarding timing of recoverability of ₹1,946.88 lakhs trade receivables from Municipal Corporation.
Auditors noted uncertainty regarding outcome of Income Tax Department proceedings and potential adjustments.
One subsidiary's financial information not reviewed by their auditors but not material to group (revenue: ₹0.49 lakhs, net profit: ₹0.20 lakhs).
Associate's financial information not reviewed by their auditors but not material to group.
Board Meeting Details
Meeting held on August 10, 2026
Commenced at 12:45 p.m., concluded at 3:53 p.m.
Documents hosted on company website: https://www.antony-waste.com/investors/financial/
