Financial Performance:
- Core operating revenue increased by 19% in FY '24.
- Total operating revenue excluding contract revenue stood at INR 829 crores, reflecting a 21% year-over-year growth.
- Core EBITDA amounted to INR 198 crores, showing a 29% year-over-year growth.
- Core EBITDA margin was 23%.
- Debt stood at INR 414.6 crores with a net debt of INR 343 crores.
- Weighted cost of debt for the group is around 8.5%.
Operational Performance:
- Managed 1.14 million tons of waste in the quarter, a 10% year-on-year increase.
- Successfully commissioned the 14 megawatts waste-to-energy plant in Pimpri-Chinchwad.
- Achieved a plant load factor of approximately 71% during the initial quarter of operation.
- Generated over 37 million green units of electricity.
- Record RDF sale of 1.47 lakh tons.
- Sold around 10,000 tons of compost during FY '24.
New Projects and Contracts:
- Secured a contract worth approximately INR 386 crores for collection and transportation projects in Panvel Municipal Corporation.
- Secured a biomining contract in CIDCO valued at approximately INR 77 crores.
- Working on a vehicle scrapping business starting with cars and trucks.
- Exploring the possibility of entering the 2-wheeler vehicle scrapping segment.
- Planning capex for potential projects at the Kanjurmarg site.
Regulatory Environment:
- Following EPR norms for recycling PET bottles.
- Vehicle scrapping regulations mandate scrapping of vehicles after 10-15 years depending on fuel type.
- In discussions with BMC for potential capex at the Kanjurmarg site.
Future Outlook:
- Expecting a 20% CAGR in revenue over the next 2 years.
- Anticipating revenue growth from waste-to-energy projects, construction and debris processing, and new contracts.
- Margin guidance in the range of 22% to 24%.
- Focus on environmental sustainability and innovation for future growth.
Subscribe To Our Free Newsletter |