Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Antony Waste Handling Cell Ltd

AWHCL
Recycling

Antony Waste Handling Cell Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: Foreign institutions moved +2.3 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.

The price is in a downtrend (44 weeks in) while the P/E sits at the 36th percentile of its own 6-year range. Underneath, the last four quarters read deteriorating — profit −19.6% year on year, and 160% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.

Stage
Mixed
partial read
Price
₹427
−29.2% 1Y
P/E
16.1×
36th pctile
of its own 6-year range
Revenue (Mar 26)
₹286 Cr
+17.7% YoY
Profit (Mar 26)
₹37.0 Cr
−19.6% YoY
Operating margin
20.0%
−1.0 pp YoY
ROCE
11%
FY26
ROIC
9.6%
vs WACC 12.0% → −2.4 pp
Cash conversion
160%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the ratio and its quarterly curve are not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Antony Waste Handling Cell Ltd trades at ₹427, in a downtrend and 44 weeks into that stage. That is −12.8% against its own 200-day average. It sits at 14% of a 52-week range of ₹401 to ₹591. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (8 weeks and counting).

Today the stock is in a downtrend — week 44 of stage 4, confirmed. At ₹427 it trades −12.8% versus its 200-day average and sits at 14% of its 52-week range (₹401–₹591).

Jul 26: ₹427 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−12.8% versus the 200-day line, week 44 of stage 4
Price50-day avg200-day avg
S2S4S2S4₹929₹756₹584₹412₹240₹427₹490Jul 23May 24Feb 25Nov 25Jul 26
S2S4S2S4₹929₹756₹584₹412₹240₹427₹490Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2021 Each cell is one week from 2021 to now (295 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Jan 21Jul 26

Against the market, two honest reads. Cumulative: over the last 5.6 years the stock moved +5% while the NIFTY 500 moved +100% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (8 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Antony Waste Handling Cell Ltd trades at 16.1× P/E, mid-range by its own standards (36th percentile). Its long-run median P/E is 19.3×, measured across 5.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 16.1× is mid-range by its own standards (36th percentile), against a long-run median of 19.3× measured over 5.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 16.1× vs a 19.3× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 5.6-year window; loss-period spikes above 28× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (36th percentile)
P/EMedianEPS (TTM) (quarterly)
29.1×₹32.923.7×₹24.718.3×₹16.412.9×₹8.27.5×₹0.0×16.10×₹27Jan 21Jun 22Nov 23Apr 25Jul 26
29.1×₹32.923.7×₹24.718.3×₹16.412.9×₹8.27.5×₹0.0×16.10×₹27Jan 21Nov 23Jul 26
P/E
16.1×
36th percentile of 6y

Why the multiple sits where it does: over the past year annual EPS moved −11.6% against a −29.2% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +4.4%/yr price move, ~+14.2%/yr came from earnings growth and ~−9.8 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

03 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Antony Waste Handling Cell Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 11.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Growth, year by year: revenue +12.7% in FY26, profit −8.9% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
63%72%47%28%30%−16%13%−60%−3.2%−104%%%12.7%−8.9%FY16FY21FY26
63%72%47%28%30%−16%13%−60%−3.2%−104%%%12.7%−8.9%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit rolling over
RevenueProfitEPS
19%166%14%107%8.2%48%2.7%−10%−2.8%−69%%%17.7%−19.6%−11.6%Jun 23Sep 24Mar 26
19%166%14%107%8.2%48%2.7%−10%−2.8%−69%%%17.7%−19.6%−11.6%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
15%14%13%12%11%%11%FY23FY24FY26
15%14%13%12%11%%11%FY23FY24FY26
Revenue growth
Steady high
latest +17.7% · span −1.3% to +17.7%
Profit growth
Falling
latest −19.6% · span −53.1% to +53.3%
ROCE
Falling
latest 11.0% · span 11.0%–15.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+12.7%+7.2%+17.8%+17.0%
Profit−8.9%+2.7%+7.5%+14.9%
EPS−11.6%+3.4%+10.8%−14.9%
Share price−29.2%+10.7%+4.4%
Revenue YoY (Mar 26)
+17.7%
latest quarter vs a year ago
Profit YoY (Mar 26)
−19.6%
latest quarter vs a year ago
Revenue 10y
17.0%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

44.6/100 — rank 8 of 9 in Recycling · 77% evidence confidence

Antony Waste Handling Cell Ltd scores 44.6 out of 100 against the 9 companies it is compared with in Recycling, ranking 8. Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

The four contributions add to the total exactly: 13.1 + 13 + 13.8 + 4.7 = 44.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Antony Waste Handling Cell Ltd reported ₹286 Cr of revenue in the Mar 26 quarter, +17.7% year on year. That is the 6th straight quarter of year-on-year growth. Over 10 years it has compounded at 17.0% a year. The last full year, FY26, came in at ₹1,053 Cr. The last four reported quarters add to ₹1,053 Cr.

FY26 revenue came in at ₹1,053 Cr (+12.7% on the year), capping 10 years at 17.0% compound. The latest quarter (Mar 26) printed ₹286 Cr, +17.7% year on year — the 6th consecutive quarter of year-over-year growth.

FY26 revenue ₹1,053 Cr (+12.7% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
17.0% a year over 10 years
RevenueYoY growth
1.1k63%85347%56930%28413%0−3.2%₹ Cr%₹1,05312.7%FY16FY21FY26
1.1k63%85347%56930%28413%0−3.2%₹ Cr%₹1,05312.7%FY16FY21FY26
Mar 26: ₹286 Cr (+17.7% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
6th straight quarter of growth
Revenue (quarterly)YoY growth
30919%23214%1548.2%772.7%0−2.8%₹ Cr%₹28617.7%Jun 23Sep 24Mar 26
30919%23214%1548.2%772.7%0−2.8%₹ Cr%₹28617.7%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +12.8% growth against the decade's 17.0% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +12.7% over the last 4 quarters against +9.8%/yr over the last 8 — stabilising; TTM profit −8.0% vs −4.6%/yr — rolling over.

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Antony Waste Handling Cell Ltd's operating margin is 20.0% in the Mar 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged 17.0% to 30.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 20.0%, −1.0 pp against the same quarter a year ago. Across 11 fiscal years the operating margin has ranged 17.0%–30.0%.

🚨 Why the margin moved: operating margin went −1.1 pp year on year while gross margin went +0.0 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 20.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 11-year window.
within a 17.0–30.0% band over 11 years
operating marginYoY change (pp)
31%3.7%27%1.1%24%−1.5%20%−4.1%16%−6.7%%%20%−1%FY16FY21FY26
31%3.7%27%1.1%24%−1.5%20%−4.1%16%−6.7%%%20%−1%FY16FY21FY26
Mar 26: 20.0% operating margin (−1.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
24%6.9%22%3.7%20%0.5%17%−2.7%15%−5.9%%%20%−1%Jun 23Sep 24Mar 26
24%6.9%22%3.7%20%0.5%17%−2.7%15%−5.9%%%20%−1%Jun 23Sep 24Mar 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Antony Waste Handling Cell Ltd earned ₹37.0 Cr of net profit in the Mar 26 quarter, −19.6% year on year. Full-year FY26 profit was ₹92.0 Cr. The 10-year compound rate is 14.9%. That is 12.9% of the quarter's revenue. The same quarter a year earlier earned ₹46.0 Cr.

Mar 26 profit was ₹37.0 Cr, −19.6% year on year. On the full year, FY26 printed ₹92.0 Cr (−8.9%), and the 10-year compound rate is 14.9%.

FY26 profit ₹92.0 Cr (−8.9% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
14.9% a year over 10 years
Net profitYoY growth
10945%8229%5514%27−1.3%0−17%₹ Cr%₹92−8.9%FY16FY21FY26
10945%8229%5514%27−1.3%0−17%₹ Cr%₹92−8.9%FY16FY21FY26
Mar 26: ₹37.0 Cr (−19.6% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
50166%37107%2548%12−10%0−69%₹ Cr%₹37−19.6%Jun 23Sep 24Mar 26
50166%37107%2548%12−10%0−69%₹ Cr%₹37−19.6%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed +17.7% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit −3.4% vs revenue +12.8%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 160% of Antony Waste Handling Cell Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹139 Cr of operating cash against ₹92.0 Cr of profit. After ₹80.0 Cr of capital spending, ₹59.0 Cr was left as free cash.

FY26: operating cash of ₹139 Cr against reported profit of ₹92.0 Cr, leaving free cash of ₹59.0 Cr after ₹80.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 160% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹139 Cr vs profit ₹92.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
160% of 3-year profit arrived as cash
Operating cashNet profitFree cash
222106−10−125−241₹ Cr₹139₹92₹59FY16FY21FY26
222106−10−125−241₹ Cr₹139₹92₹59FY16FY21FY26
FY26: CFO = 151% of profit (three-year rate 160%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
265%218%171%123%76%%151%FY16FY21FY26
265%218%171%123%76%%151%FY16FY21FY26

Why conversion sits at 160%: the cash cycle stretched 42 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.

Router verdict: the bigger cash user is investment — capital spending ran 2.0× depreciation over three years, so the next section's job is to check what that build-out is buying.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Antony Waste Handling Cell Ltd's cash conversion cycle runs 112 days in FY26, up from 70 days in FY21. Capital spending ran ₹421 Cr over the last 3 years. At FY26 sales of ₹1,053 Cr each day of that cycle holds about ₹2.9 Cr, so roughly ₹323 Cr sits inside the business at any moment.

FY26: debtors at 112 days (an asset-light business — no inventory to speak of) — for a full cycle of 112 days, looser than FY21's 70.

In money terms: at FY26 sales of ₹1,053 Cr, each day of the cycle holds about ₹2.9 Cr — so the 112-day loop keeps roughly ₹323 Cr sitting inside the business at any moment.

FY26: a 112-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 11-year window.
+42 days vs FY21
Cash cycleDebtor days
140118977553days112d112dFY16FY18FY21FY23FY26
140118977553days112d112dFY16FY21FY26

On the investment side: capital spending of ₹421 Cr over the last 3 fiscal years against ₹209 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹29.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹80.0 Cr, work-in-progress ₹29.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
32622712930−69₹ Cr₹80₹29FY17FY19FY21FY23FY26
32622712930−69₹ Cr₹80₹29FY17FY21FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Antony Waste Handling Cell Ltd earns a ROCE of 11% in FY26. Return on invested capital clears the cost of that capital by −2.4 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 8.7% net margin on 0.61× asset turns.

FY26 ROCE is 11%.

🚨 Why the return is what it is — the wiring (FY26): 8.7% net margin × 0.61× asset turns × 2.35× balance-sheet leverage ≈ 12.5% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 9.6% − 12.0% = a −2.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 11% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 10-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEROIC (annual)WACC
27%23%18%13%8.3%%11%9.8%FY17FY21FY26
27%23%18%13%8.3%%11%9.8%FY17FY21FY26
Q4 FY26: ROCE 9.1% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
14%12%11%9.5%8.1%%9.1%9.2%Q1 FY24Q2 FY25Q4 FY26
14%12%11%9.5%8.1%%9.1%9.2%Q1 FY24Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Antony Waste Handling Cell Ltd carries total debt of ₹459 Cr against shareholder equity of ₹915 Cr as of Mar 26, a debt-to-equity of 0.50. On the annual view that ratio went from 0.33 in FY22 to 0.50 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹459 Cr against shareholder equity of ₹915 Cr — a debt-to-equity of 0.50. On the annual view, debt-to-equity went from 0.33 (FY22) to 0.50 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹459 Cr at 0.50× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
5450.64×4090.56×2730.47×1360.39×00.31×₹ Cr×₹4590.50×FY22FY24FY26
5450.64×4090.56×2730.47×1360.39×00.31×₹ Cr×₹4590.50×FY22FY24FY26
Mar 26: debt ₹459 Cr, debt-to-equity 0.50 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
5450.63×4090.59×2730.56×1360.53×00.49×₹ Cr×₹4590.50×Jun 23Sep 24Mar 26
5450.63×4090.59×2730.56×1360.53×00.49×₹ Cr×₹4590.50×Jun 23Sep 24Mar 26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions added 2.3 points of Antony Waste Handling Cell Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 13.1% of the company. Domestic institutions moved −1.8 points over the same window, to 3.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +2.3 points over 8 quarters to 13.1%; Domestic institutions: −1.8 points over 8 quarters to 3.4%; Promoters: +0.0 points over 8 quarters to 46.1%.

Why the register moved: rotation — foreign institutions +2.3 points against domestic institutions −1.8 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
49%37%25%12%0.0%%46.1%14.8%3.4%35.7%Mar 24Mar 25Mar 26
49%37%25%12%0.0%%46.1%14.8%3.4%35.7%Mar 24Mar 25Mar 26
Foreign institutions added 2.3 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
50%37%25%12%0.0%%46.1%13.1%3.4%37.4%Jun 23Dec 24Jun 26
50%37%25%12%0.0%%46.1%13.1%3.4%37.4%Jun 23Dec 24Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Antony Waste Handling Cell Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Recycling
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Bhagyanagar India LtdBHAGYANGR 72.4/100Favorable setup80% evidence LEADER 31.9/35 Revenue 49.1% · PAT 100% · OPM change 1.7 pp 95% evidence 14.4/25 ROCE 20.7% · OPM 5% 95% evidence 10.8/20 P/E 19.4× · PEG — 15% evidence 15.3/20 RS sector 79.9% · RS bench 93.8% · 1Y 282.2%12 of 12 weeks ahead 100% evidence
Exact sum: 31.9 + 14.4 + 10.8 + 15.3 = 72.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2NILE LtdNILE 64.5/100Mixed-positive evidence77% evidence TURNING 22.7/35 Revenue 13% · PAT 55.6% · OPM change -1 pp 83% evidence 17.5/25 ROCE 25.3% · OPM 7% 95% evidence 10.9/20 P/E 10.2× · PEG — 50% evidence 13.4/20 RS sector 3.2% · RS bench 6.4% · 1Y 5.5%5 of 8 weeks ahead 70% evidence
Exact sum: 22.7 + 17.5 + 10.9 + 13.4 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Namo eWaste Management LtdNAMOEWASTE 63.3/100Thin evidence · provisional56% evidence LEADER 20.2/35 Revenue — · PAT — · OPM change 3 pp 26% evidence 15.5/25 ROCE 21.3% · OPM 11% 95% evidence 8.9/20 P/E 43.7× · PEG — 15% evidence 18.7/20 RS sector 23.7% · RS bench 36.4% · 1Y 39.9%12 of 12 weeks ahead 100% evidence
Exact sum: 20.2 + 15.5 + 8.9 + 18.7 = 63.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4Pondy Oxides & Chemicals LtdPOCL 59.2/100Mixed-positive evidence96% evidence ASLEEP 28.2/35 Revenue 43.8% · PAT 100% · OPM change 1 pp 88% evidence 13.3/25 ROCE 23.2% · OPM 6% 100% evidence 15.7/20 P/E 30.2× · PEG 0.96 100% evidence 2.0/20 RS sector -59.5% · RS bench 1.4% · 1Y -52.2%3 of 12 weeks ahead 100% evidence
Exact sum: 28.2 + 13.3 + 15.7 + 2 = 59.2 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -59.5% and the one-year return is -52.2%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
5Eco Recycling Ltd530643 48.6/100Mixed-negative evidence78% evidence BREAKING OUT 8.3/35 Revenue 9.6% · PAT -1.7% · OPM change -1.8 pp 83% evidence 19.4/25 ROCE 30% · OPM 69.5% 76% evidence 9.8/20 P/E 41.6× · PEG — 50% evidence 11.1/20 RS sector -7.8% · RS bench 2.9% · 1Y -26.7%12 of 12 weeks ahead 100% evidence
Exact sum: 8.3 + 19.4 + 9.8 + 11.1 = 48.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Jain Resource Recycling LtdJAINREC 45.8/100Mixed-negative evidence69% evidence ASLEEP 17.1/35 Revenue 48.4% · PAT 54.7% · OPM change -1.5 pp 88% evidence 14.1/25 ROCE 25.5% · OPM 3.5% 100% evidence 4.6/20 P/E 34.1× · PEG 3.48 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —1 of 12 weeks ahead 0% evidence
Exact sum: 17.1 + 14.1 + 4.6 + 10 = 45.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Gravita India LtdGRAVITA 45.5/100Mixed-negative evidence100% evidence ASLEEP 16.6/35 Revenue 17.5% · PAT 15.7% · OPM change -3 pp 100% evidence 10.2/25 ROCE 17% · OPM 7% 100% evidence 11.5/20 P/E 30.4× · PEG 1 100% evidence 7.2/20 RS sector -13.8% · RS bench -4% · 1Y -14.3%8 of 12 weeks ahead 100% evidence
Exact sum: 16.6 + 10.2 + 11.5 + 7.2 = 45.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Antony Waste Handling Cell Ltdthis pageAWHCL 44.6/100Mixed-negative evidence77% evidence ASLEEP 13.1/35 Revenue 12.7% · PAT -8% · OPM change -1 pp 83% evidence 13.0/25 ROCE 11.2% · OPM 20% 95% evidence 13.8/20 P/E 16.1× · PEG — 50% evidence 4.7/20 RS sector -17.8% · RS bench -16.1% · 1Y -29.7%1 of 10 weeks ahead 70% evidence
Exact sum: 13.1 + 13 + 13.8 + 4.7 = 44.6 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
9Ganesha Ecosphere LtdGANECOS 28.3/100Adverse evidence90% evidence TURNING 4.9/35 Revenue 1% · PAT -62.5% · OPM change -3 pp 88% evidence 5.3/25 ROCE 5.4% · OPM 12% 100% evidence 10.2/20 P/E 83× · PEG 0.43 100% evidence 7.9/20 RS sector -27% · RS bench 15.3% · 1Y -19.5%9 of 10 weeks ahead 70% evidence
Exact sum: 4.9 + 5.3 + 10.2 + 7.9 = 28.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Antony Waste Handling Cell Ltd's share price today?

Antony Waste Handling Cell Ltd trades at ₹427, −29.2% over the past year. The company is valued at ₹1,212 Cr. The stock sits at 14% of its 52-week range of ₹401–₹591, −12.8% versus its 200-day average. On the tape, the price is in a downtrend, 44 weeks in. — as of 31 July 2026.

What were Antony Waste Handling Cell Ltd's latest quarterly results?

Antony Waste Handling Cell Ltd reported revenue of ₹286 Cr and net profit of ₹37.0 Cr for the Mar 26 quarter. Revenue rose 17.7% and profit fell 19.6% year on year. Earnings per share were ₹11.46. The operating margin was 20.0%, 1.0 pp lower than a year earlier. — as of 31 July 2026.

What is Antony Waste Handling Cell Ltd's revenue?

Antony Waste Handling Cell Ltd reported revenue of ₹286 Cr in the Mar 26 quarter, +17.7% year on year. For the full FY26 fiscal year, revenue was ₹1,053 Cr (+12.7%). Over the last 10 years revenue compounded at 17.0% a year. — as of 31 July 2026.

What is Antony Waste Handling Cell Ltd's profit?

Antony Waste Handling Cell Ltd earned ₹37.0 Cr of net profit in the Mar 26 quarter, −19.6% year on year. Full-year FY26 profit was ₹92.0 Cr. The operating margin ran 20.0% in the latest quarter. — as of 31 July 2026.

What is Antony Waste Handling Cell Ltd's market cap?

Antony Waste Handling Cell Ltd's market capitalisation is ₹1,212 Cr at a share price of ₹427. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Antony Waste Handling Cell Ltd's P/E ratio?

Antony Waste Handling Cell Ltd trades at a P/E of 16.1×, at the 36th percentile of its own 6-year range, against a long-run median of 19.3×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Antony Waste Handling Cell Ltd pay a dividend?

Yes — Antony Waste Handling Cell Ltd's dividend payout was 2% of profit in FY26, and it recorded a payout in 1 of its last 11 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Antony Waste Handling Cell Ltd overvalued?

On its own history, Antony Waste Handling Cell Ltd looks mid-range against its own history: its P/E of 16.1× sits at the 36th percentile of its 6-year range (long-run median 19.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

Is Antony Waste Handling Cell Ltd growing?

Not right now — Antony Waste Handling Cell Ltd's latest numbers are shrinking: latest-quarter revenue +17.7% year on year, profit −19.6%, and the margin −1.0 pp at 20.0%. The 10-year compound rates are 17.0% (revenue) and 14.9% (profit). The earnings engine currently reads: deteriorating — as of 31 July 2026.

How is Antony Waste Handling Cell Ltd performing?

Antony Waste Handling Cell Ltd is in a downtrend, 44 weeks in. Its latest quarter's revenue rose 17.7% and profit fell 19.6% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 8 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Antony Waste Handling Cell Ltd in?

Mixed — no clean majority across the growth curves, ROCE slipping at 11.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +17.7% latest, profit growth −19.6% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Antony Waste Handling Cell Ltd in an uptrend?

No — the price is in a downtrend (week 44 of stage 4), trading −12.8% versus its 200-day average and at 14% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Antony Waste Handling Cell Ltd beating the market?

Not lately — on a trailing-13-week view Antony Waste Handling Cell Ltd is currently behind the NIFTY 500 (8 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 5.6 years the stock moved +5% against the NIFTY 500's +100% — behind the index over the full window. — as of 31 July 2026.

Will Antony Waste Handling Cell Ltd's share price go up?

This page publishes no price forecast for Antony Waste Handling Cell Ltd. What it measures instead: the share price is ₹427, the price is in a downtrend 44 weeks in. Its P/E of 16.1× sits at the 36th percentile of its own 6-year range. — as of 31 July 2026.

Who owns Antony Waste Handling Cell Ltd?

Promoters hold 46.1% of Antony Waste Handling Cell Ltd, foreign institutions 13.1%, domestic institutions 3.4% and the public 37.4% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 2.3 points over 8 quarters. — as of 31 July 2026.

Does Antony Waste Handling Cell Ltd have too much debt?

It is moderate — Antony Waste Handling Cell Ltd's debt-to-equity is 0.62, and operating profit covers the interest bill 3×. FY26 borrowings were ₹459 Cr against equity of ₹739 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.

What is Antony Waste Handling Cell Ltd's capex?

Antony Waste Handling Cell Ltd spent ₹421 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹80.0 Cr, with ₹29.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Antony Waste Handling Cell Ltd's cash flow?

Antony Waste Handling Cell Ltd generated ₹139 Cr of operating cash flow in FY26 and ₹59.0 Cr of free cash flow after ₹80.0 Cr of capital spending. Reported profit that year was ₹92.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Antony Waste Handling Cell Ltd's profit real cash?

Yes — over the last 3 fiscal years, 160% of Antony Waste Handling Cell Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹139 Cr against reported profit of ₹92.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Antony Waste Handling Cell Ltd in its business cycle?

Antony Waste Handling Cell Ltd's FY26 operating margin was 20.0%, against a 11-year band of 17.0%–30.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 20.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Antony Waste Handling Cell Ltd story?

The sharpest disagreement: Foreign institutions moved +2.3 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Antony Waste Handling Cell Ltd a stock worth studying right now?

This is not investment advice. The machine read: Antony Waste Handling Cell Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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