💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment of metal casting. Revenue for Q2 FY26 was INR 0.6573 Cr, representing a 46.8% YoY decline from INR 1.2352 Cr in Q2 FY25. H1 FY26 revenue was INR 1.9329 Cr, down 17.5% YoY from INR 2.3423 Cr in H1 FY25.

Geographic Revenue Split

100% of operations and revenue are concentrated in Rajkot, Gujarat, based on the registered office and property notice disclosures.

Profitability Margins

Net profit margin for Q2 FY26 was 5.67% (INR 3.73 Lakhs profit on INR 65.73 Lakhs revenue), an improvement from 0.05% in Q2 FY25. However, the H1 FY26 net margin was negative at -3.08% due to a loss of INR 5.95 Lakhs.

EBITDA Margin

Operating profit (PBT) margin for Q2 FY26 was 7.8% (INR 5.13 Lakhs). The company reported an operating loss of INR 7.81 Lakhs for H1 FY26, compared to a profit of INR 0.30 Lakhs in H1 FY25.

Credit Rating & Borrowing

Not disclosed, but property notices for security interests suggest the company has outstanding debt that it may be struggling to service.

⚙️ Operational Drivers

Raw Materials

Metal scrap and pig iron (standard for casting), though specific % of cost is not disclosed.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Products & Services

Metal castings for industrial and automotive applications.

Brand Portfolio

ANB Metal Cast Limited (AMCL)

🌍 External Factors

Industry Trends

The foundry industry is consolidating, with larger players adopting green technologies. AMCL's small scale and financial deficit position it poorly for this transition.

Competitive Landscape

Competes with numerous small-to-medium foundries in the Rajkot casting cluster, which is one of India's largest.

Competitive Moat

The company lacks a durable moat, as evidenced by its small revenue base (INR 5.44 Cr annual) and negative reserves (INR -0.42 Cr), which indicate a lack of cost leadership or brand power in the competitive metal casting industry.

Macro Economic Sensitivity

Highly sensitive to the Indian manufacturing sector's health. A slowdown in industrial CAPEX would directly reduce demand for casting products.

Consumer Behavior

Industrial clients are increasingly demanding higher precision and faster turnaround times, which requires investment in CNC machining and automated molding—investments AMCL may struggle to fund given its INR -0.42 Cr reserves.

Geopolitical Risks

Minimal direct exposure, but sensitive to global iron ore and scrap metal price volatility.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Companies Act 2013 and SEBI (LODR) Regulations 2015. As a metal casting unit, it must also comply with Gujarat Pollution Control Board (GPCB) norms for foundry emissions and waste disposal.

Taxation Policy Impact

Tax expense for Q2 FY26 was INR 1.40 Lakhs on a PBT of INR 5.13 Lakhs, implying an effective tax rate of 27.3%.

Legal Contingencies

Multiple property notices and security interest disclosures (dated Nov 2025) involve the company's registered office and other assets in Rajkot, with specific claim amounts including INR 9.57 Lakhs, INR 11.31 Lakhs, and INR 3.51 Lakhs.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the company's ability to continue as a going concern, given the 46.8% YoY revenue drop in Q2 FY26 and a total reserve deficit of INR 0.4294 Cr.

Geographic Concentration Risk

100% of revenue and assets are concentrated in Rajkot, Gujarat, making the company highly vulnerable to regional economic shifts or local regulatory changes.

Technology Obsolescence Risk

High risk; the company's lack of capital (negative reserves) prevents upgrading from traditional casting methods to modern, efficient processes.

Credit & Counterparty Risk

High risk; the company's own financial distress and property notices suggest it may face difficulties in both collecting receivables and meeting its own credit obligations.