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Subscribe to Antony Waste Handling Cell: Mehta Equities

Mehta Equities has come out with its report on Antony Waste Handling Cell. The research firm has recommended to ''Subscribe'' the ipo in its research report as on December 21, 2020

December 22, 2020 / 12:11 PM IST
 
 
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Mehta Equities IPO report on Antony Waste Handling Cell.


Antony Waste Handling Cell Limited (Antony Waste) is amongst the leading top 5 players in the Indian MSW management industry. Antony Waste primarily undertakes MSW C&T projects, MSW processing projects and mechanized sweeping projects through themselves and/or their Subsidiaries. It has an established track record of 19 years primarily catering to Indian municipalities. As on date they have undertaken more than 25 projects out of which 18 are ongoing comprising 12 MSW C&T projects, 2 MSW processing projects and 4 mechanized sweeping projects. As of November 15, 2020, they had a fleet of 1,147 vehicles of which 969 were equipped with GPS technology. They procure the components of its vehicles mostly from leading international suppliers including from Compost System GmbH.


Valuation and Outlook


On valuations parse at upper price band (Rs 315/-), the issue is asking for market cap Rs 891 Cr and seeking PE 15xtimes on annualized H1FY21 EPS, Hence, based on all the above rationale we are neutral with no wow factor and advise only high risk investors can look into this issue and subscribe with caution note.


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