Antony Waste reports Rs 19.9288 crore Pune collapse loss

Antony Waste Handling Cell Limited recorded a Rs 19.9288 crore exceptional loss in the quarter ended 30 September 2026 after waste from an adjacent landfill collapsed onto its Pune facility on 8 July 2026, contributing to a consolidated net loss of Rs 1.7283 crore. The company said the core waste-processing and power-generation infrastructure was not affected.

What happened at Antony Waste's Pune facility?

Antony Waste's waste-to-energy subsidiary at Pimpri Chinchwad, Pune, was affected on 8 July 2026 when unusually heavy monsoon rainfall caused municipal waste from an adjacent legacy landfill to collapse onto part of its facility. The legacy landfill was outside the subsidiary's premises and operational control, according to the financial-results note issued on 5 November 2026.

The collapse damaged the administrative building, resulted in loss of life and injured certain employees. Antony Waste said the subsidiary immediately undertook relief and rehabilitation measures and extended financial and other support to affected employees and their families. The filing does not specify the number of deaths, injuries, beneficiaries or the amount of individual compensation.

The company distinguished the damaged administrative building from the operational plant. Antony Waste said the core waste-processing and power-generation infrastructure was not affected by the 8 July event. This distinction underpins management's assessment that the incident is not expected to have a material long-term impact on the subsidiary's operations or its ability to continue as a going concern.

How did the Pune collapse affect Antony Waste's quarterly results?

The Pune incident changed Antony Waste's quarter ended 30 September 2026 from a Rs 18.7414 crore profit before exceptional items and tax to a Rs 1.1874 crore loss before tax after the Rs 19.9288 crore exceptional charge. In the preceding quarter ended 30 June 2026, profit before tax was Rs 1.3356 crore, while the comparable quarter ended 30 September 2025 recorded Rs 20.1727 crore.

Antony Waste reported a Rs 1.7283 crore consolidated net loss for the September 2026 quarter, compared with a Rs 74.88 lakh profit in the June 2026 quarter and a Rs 17.2602 crore profit in the September 2025 quarter. Basic and diluted loss per equity share was Rs 0.64, compared with earnings per share of Rs 0.27 in the prior quarter and Rs 4.81 a year earlier.

The exceptional loss comprised impairment of property, plant and equipment, intangible assets under development and intangible assets, along with hiring charges, other related costs and compensation paid to employees or their next of kin. The half-year cash-flow statement separately recorded Rs 8.866 crore of impairment of property, plant and equipment, intangible assets under development and intangible assets for the period ended 30 September 2026.

Did revenue decline after the Pune landfill collapse?

No, Antony Waste's revenue from operations increased to Rs 321.2298 crore in the September 2026 quarter from Rs 260.5907 crore in the June 2026 quarter and Rs 257.6505 crore in the September 2025 quarter. The exceptional charge, rather than a reported decline in quarterly revenue, was the direct factor that moved the group into a quarterly net loss.

Total income was Rs 330.3274 crore in the September quarter, including Rs 9.0976 crore of other income, compared with Rs 268.8264 crore in the immediately preceding quarter. Total expenses rose to Rs 311.586 crore from Rs 267.4908 crore, while impairment loss on financial assets increased to Rs 27.8755 crore from Rs 41.22 lakh.

For the half year ended 30 September 2026, Antony Waste reported revenue from operations of Rs 582.2205 crore, compared with Rs 504.9869 crore in the corresponding 2025 period. Despite the revenue increase, the group reported a half-year net loss of Rs 97.95 lakh, against a Rs 40.2174 crore profit a year earlier, after recognising the Rs 19.9288 crore exceptional item.

The September-quarter statement also included Rs 21.9362 crore of project expenses, compared with Rs 81.31 lakh in the June 2026 quarter and Rs 2 crore in the September 2025 quarter. Antony Waste did not identify those project expenses as costs of the Pune collapse, so they cannot be counted as an additional quantified loss from the incident.

Which Pune operations have resumed and which remain pending?

Antony Waste resumed material recovery facility, or MRF, and composting operations on 28 July 2026, but it did not report that waste-to-energy operations had restarted by 30 September 2026. The company said waste-to-energy activity would resume after inspection and certification by original equipment manufacturers, or OEMs, and Hitachi Zosen (Kanadevia).

The filing provides no date for completion of the OEM inspections or for the restart of power generation. It instead states that the processing and power-generation infrastructure was unaffected, while making the return of waste-to-energy operations conditional on certification. This leaves the restart timetable unresolved despite the resumption of MRF and composting activity within 20 days of the 8 July event.

Antony Waste recognised the Rs 19.9288 crore charge during the quarter and period ended 30 September 2026, before disclosing a waste-to-energy restart date. Management's going-concern assessment is based on its evaluation of the damage and the unaffected core infrastructure, not on a completed return to full operations.

What other financial matters does Antony Waste disclose?

Antony Waste reported total assets of Rs 1,815.9569 crore as of 30 September 2026, up from Rs 1,738.7517 crore on 31 March 2026. Total equity increased to Rs 929.7215 crore from Rs 915.1916 crore, while non-current borrowings rose to Rs 298.5713 crore from Rs 270.1552 crore over the same six-month period.

Cash and cash equivalents in the cash-flow statement declined to Rs 55.4848 crore at 30 September 2026 from Rs 109.5676 crore at the beginning of the financial year. Net cash used in investing activities was Rs 94.8102 crore for the half year, compared with Rs 22.9785 crore in the corresponding 2025 period, alongside Rs 105.8452 crore of purchases of property, plant and equipment and intangible assets.

The independent auditor drew attention to Rs 19.4688 crore due from a municipal corporation that was overdue for a substantial period as of 30 September 2026. Management said it had received a balance confirmation, that approval for remittance had been obtained from the state government, and that settlement arrangements were under way; the auditor did not modify its review conclusion.

A separate Rs 15 crore municipal receivable remains subject to enforcement following a Supreme Court order dated 5 May 2026. Antony Waste said the payment period ordered by the court had lapsed, the company had sent a reminder and filed a contempt petition and miscellaneous application, while management continued to consider the amount good and recoverable.

Conclusion

The Pune landfill collapse imposed a Rs 19.9288 crore exceptional loss on Antony Waste's September 2026 quarter, turning a Rs 18.7414 crore profit before exceptional items and tax into a Rs 1.1874 crore pre-tax loss. Revenue from operations increased year on year and sequentially, but the charge for impaired assets, related costs and employee compensation resulted in a Rs 1.7283 crore consolidated net loss.

The next disclosed operational marker is inspection and certification by the OEMs and Hitachi Zosen (Kanadevia), which Antony Waste has said are required before waste-to-energy operations resume. The company has not provided a date for that certification or restart, making subsequent disclosures on the Pune plant's return to operation the key development to watch.