AMCL - ANB Metal
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.
Capital Expenditure
Not disclosed in available documents.
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.
Import Sources
Not disclosed in available documents.
Key Suppliers
Not disclosed in available documents.
Capacity Expansion
Not disclosed in available documents.
Raw Material Costs
Not disclosed in available documents.
Manufacturing Efficiency
Not disclosed in available documents.
Logistics & Distribution
Not disclosed in available documents.
Strategic Growth
Expected Growth Rate
Not disclosed
Growth Strategy
Not disclosed in available documents.
Products & Services
Metal castings for industrial and automotive applications.
Brand Portfolio
ANB Metal Cast Limited (AMCL)
New Products/Services
Not disclosed in available documents.
Market Expansion
Not disclosed in available documents.
Market Share & Ranking
Not disclosed in available documents.
Strategic Alliances
Not disclosed in available documents.
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.
Environmental Compliance
Not disclosed in available documents.
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.
Third Party Dependencies
Not disclosed in available documents.
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.