Dear Stakeholders
In recent years, there has been a rapid surge in urbanisation. This,
coupled with the fact that India has the highest population in the world, has led to
substantial increase in waste generation. With strong economic growth and heightened urban
consumption rates, India is among the top countries in terms of generating a significant
amount of municipal solid waste (MSW).
In this context, we at AWHCL are poised to capitalise on the growing
demand for efficient waste management solutions. We have taken significant strides in FY24
and I am delighted to share that we have successfully fulfilled our established
priorities, advanced our ongoing projects, introduced new revenue streams and streamlined
our cost structure. These efforts have laid a strong foundation for our continued success
and long-term value creation for our stakeholders.
The year in review
In the year under review, we achieved a landmark milestone with the
inauguration of our cutting-edge integrated Waste-to-Energy Plant by the Hon'ble
Prime Minister of India, Shri Narendra Modi, at the Pimpri-Chinchwad Municipal
Corporation. As one of the first of its kind in Maharashtra, this plant further fortified
our reputation as a reliable player in the waste management sector. It also aligns with
the Government's Swachh Bharat Abhiyan, an initiative that aims to create a cleaner,
greener India. This initiative reverberates globally, especially now that India leads the
G20, a platform for global collaboration on pressing issues.
Another notable development that happened during the year has been the
commencement of commercial power sales from our innovative waste-to-energy plant in Pimpri
Chinchwad. I am happy to report that the plant has surpassed expectations, consistently
meeting all technical and operational benchmarks set by our esteemed partner, Hitachi
Zosen. Currently, the plant supplies 8 megawatts of clean electricity to the PCMC water
pumping station in Ravet and the sewage treatment plant in Chikali, contributing to
substantial cost savings on their energy bills. This achievement signifies a crucial step
towards sustainable waste management and a promising future for our Company's
environmental impact.
During FY24, we submitted a Scheme of Merger to the National Company
Law Tribunal (NCLT), proposing the integration of our two wholly-owned
subsidiaries—Antony Infrastructure and Waste Management Services Private Limited, and
KL EnviTech Private Limited—into AG Enviro Infra Projects Private Limited, a key
wholly-owned subsidiary. This merger, approved by the NCLT vide order dated August 13,
2024, is designed to streamline our corporate structure, enhance both operational and
managerial efficiency and leverage combined assets for a more robust and sustainable
business. It will also ensure cost savings and promote efficient resource utilisation.
Fostering a circular economy
At AWHCL, we are building an ESG-focused enterprise with the goal of
fostering a circular economy within the cities we serve. This commitment translates into
integrating circular principles, such as diverting waste from landfills and utilising
Refuse Derived Fuel (RDF) as a sustainable alternative to coal. This approach
"Our commitment to enabling responsible growth is exemplified by
the efforts we have made to prevent ~8,132 metric emissions. We believe in
tonnes of CO2
leading by example; this is why one of our facilities even generates
renewable energy from byproducts. Additionally, we capture and flare greenhouse gases
produced during waste processing to further curb our environmental footprint."
maximises resource extraction and facilitates outreach initiatives that promote
responsible waste management practices.
As a testament to the benefit of this approach, cement producers are
increasingly recognising the value of our RDF. During the year under review, RDF sales
peaked at ~1.47 lakh metric tonnes, a significant increase from ~0.51 lakh metric tonnes
last year. Additionally, we have sold ~9,973 metric tonnes of compost this year, further
highlighting our commitment to sustainable practices.
Catalysing responsible growth
We are deeply committed to cultivating positive change in the
communities we serve. Recognising the social and environmental dimensions of waste
management, we collaborate with local NGOs to address these challenges. Through regular
meetings with community members, we ensure open communication and simultaneously gather
valuable insights. Additionally, we conduct Information, Education and Communication (IEC)
activities to raise awareness about responsible waste management practices. By working
closely with local stakeholders, we strive to contribute to a sustainable future that
benefits both our Company and the communities in which we operate.
We are pleased to announce that the utilisation of Refuse-Derived Fuel
(RDF) supplied by our Company has enabled cement
manufacturers to avoid an estimated 1.24 lakh tonnes of CO2
equivalent emissions in FY24. This significant achievement underscores
our dedication to sustainability and aiding our clients in their aim to reduce their
reliance on fossil fuels.
We have also received prestigious ranking in the cities we serve, as
highlighted during the recent Swachh Bharat survey.
On track for growth
Looking ahead, we are expanding our revenue stream by diversifying into
the collection, transportation, processing and disposal of C&D projects. Also, we are
expanding our presence in India's MSW management space, while sharpening our focus on
rational project selection to enhance urban waste management.
Our efforts are concentrated on improving operational efficiency while
emphasising economic viability and environmental sustainability. By diversifying into
emerging waste management segments, we aim to address a wide array of waste management
concerns that will further promote responsible consumption and production practices.
In closing, I wish to express my deepest gratitude to everyone who has
been an integral part of our journey. Your unwavering support and dedication have fuelled
our progress and together, we stand poised to create a healthier, cleaner tomorrow. I
eagerly anticipate that continued collaboration and shared commitment will drive us toward
this brighter future.
Best regards,
Jose Jacob Kallarakal
Chairman and Managing Director