Antony Waste Handling Cell (AWHCL) Q4 22/23 earnings summary

Executive summary

• FY23 revenue fell 14.2% YoY to ₹105,692 lakh as delayed USFDA inspection at Unit II deferred customer orders and demand softened among some customers.

• Operating margin remained healthy at 40.7%, down 590 bps YoY; infrastructure expansion and Unit II regulatory approvals strengthened capacity and market access.

Financial highlights

• Revenue from operations was ₹105,692.43 lakh vs ₹123,125.60 lakh in FY22; other income rose to ₹7,737.17 lakh from ₹4,898.05 lakh.

• PBT before exceptional items was ₹43,598.03 lakh vs ₹54,659.23 lakh; PAT was ₹38,567.11 lakh vs ₹40,599.02 lakh.

• Including the ₹6,180.24 lakh exceptional gain, PBT was ₹49,778.27 lakh; consolidated PAT was ₹38,518.51 lakh.

• Operating cash flow was ₹31,898.33 lakh; investing cash outflow was ₹22,620.15 lakh, including ₹17,867.98 lakh of fixed-asset and other capital expenditure.

Outlook and guidance

• Management looked for greater stability and continued success in FY24, citing customer focus, delivery execution, quality and ongoing innovation.

• Unit III was expected to begin production in 2024, with commercial-scale high-potent compounds and peptide manufacturing among its priorities.

• An oligonucleotide laboratory at Unit I was planned to become operational in H2 2023.