Why is Antony Waste han falling/rising?

Recent Price Movement and Market Context

Antony Waste Handling’s stock has been trending downward over multiple time frames. Over the past week, the stock fell by 5.67%, contrasting sharply with the Sensex’s modest gain of 0.79%. The one-month decline is even more pronounced at 12.02%, while the Sensex rose by 0.95% during the same period. Year-to-date, the stock has lost nearly a quarter of its value, down 24.95%, whereas the Sensex has advanced by over 9%. This negative trend extends to the one-year horizon, with the stock falling 24.97% against the Sensex’s 10.47% gain. Although the three-year return of 43.90% slightly outpaces the Sensex’s 39.39%, the recent underperformance signals growing investor concerns.

On the day in question, the stock traded close to its 52-week low, just 0.51% above the bottom price of ₹460.65. It also underperformed its sector by 0.46%, indicating relative weakness within its industry group. Furthermore, Antony Waste Handling is trading below all key moving averages—5-day, 20-day, 50-day, 100-day, and 200-day—highlighting a bearish technical setup that may deter short-term traders and investors.

Investor participation appears to be waning, with delivery volume on 20 Nov falling by 11.44% compared to the five-day average. This decline in trading activity suggests reduced enthusiasm or conviction among shareholders, which can exacerbate downward price pressure. Despite this, liquidity remains adequate for moderate trade sizes, with the stock’s traded value supporting transactions up to ₹0.08 crore based on 2% of the five-day average.

Financial Performance and Valuation Considerations

Despite the recent price weakness, Antony Waste Handling exhibits some positive financial attributes. The company maintains a high return on capital employed (ROCE) of 16.42%, signalling efficient management and effective utilisation of capital. Its debt servicing capability is strong, with a low Debt to EBITDA ratio of 1.45 times, reducing concerns over financial leverage. Additionally, the stock trades at an attractive valuation, with an enterprise value to capital employed ratio of 1.6, suggesting it is priced at a discount relative to its peers’ historical averages.

However, these positives are overshadowed by deteriorating profitability and growth metrics. Over the past year, the company’s profits have declined by 7.7%, and the stock’s return of -24.97% reflects this downturn. The operating profit growth rate over the last five years has been a modest 9.66% annually, which is considered weak for sustaining investor confidence in the long term.

Recent quarterly results released in September 2025 further highlight challenges. The operating profit to interest coverage ratio dropped to a low of 3.23 times, indicating tighter margins for meeting interest obligations. Profit after tax (PAT) for the quarter stood at ₹13.65 crore, down 13.2% compared to the average of the previous four quarters. Moreover, the debtors turnover ratio for the half-year period fell to 3.12 times, signalling slower collection efficiency and potential working capital concerns.

These financial headwinds have contributed to the stock’s underperformance relative to broader market indices and the BSE500 over the last three years, one year, and three months. The majority shareholding by promoters has not been sufficient to arrest the decline, as investor sentiment remains cautious amid the company’s subdued growth and profitability outlook.

Conclusion: Why the Stock Is Falling

The decline in Antony Waste Handling Cell Ltd’s share price on 21-Nov is primarily attributable to its weak financial performance and disappointing growth prospects. The stock’s consistent underperformance against the Sensex and sector peers, coupled with falling profits and deteriorating operational metrics, has eroded investor confidence. Technical indicators, including trading below all major moving averages and reduced investor participation, reinforce the bearish sentiment. While the company’s efficient capital use and manageable debt levels offer some reassurance, these factors have not been sufficient to offset concerns over profitability declines and sluggish growth. Consequently, the stock remains under pressure, reflecting a cautious outlook among market participants.

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