Antony Waste Handling Cell's core operating revenue has the potential to grow at 18-20% compounded annually over the next 3-4 years, said Chief Financial Officer (CFO) NG Subramanian.

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The company also enjoys a low net debt-to-equity ratio at 0.7x, he pointed out in a chat with CNBC-TV18.

Subramanian said the Mumbai Metropolitan Region (MMR) region contributes nearly 42% of the company's total revenue. The MMR area encompasses major urban centres such as Navi Mumbai, the Brihanmumbai Municipal Corporation (BMC), Panvel, and Thane.

"These regions are characterised by high population density, substantial tonnage yields, reliable cash flows, and a consistent payment history," he highlighted.

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The company's stock has risen nearly 9% in the past month and about 45% over the last half-year. In the most recent financial quarter, the company reported a 20% expansion in its operating income over the previous year.

Also Read | Textbooks to include lessons on waste management from next academic year: Kerala govt

On October 27, the company announced a major order win worth ₹386 crore by one of its major subsidiaries, AG Enviro Infra Projects, from the Panvel Municipal Corporation in the Mumbai Metropolitan Region. The contract pertains to the collection and transportation of municipal solid waste from door to door by the corporation. This five-year contract also includes the provision for a potential two-year extension.

Earlier this month, the company made public its initiation of commercial power sales from its newly operational waste-to-energy power facility to the Pimpri Chinchwad Municipal Corporation.

Also Read | Antony Waste starts commercial power sale from its waste-to-energy power plant

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