ANB Metal Cast Limited (AMCL)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, ANB Metal's revenue was ₹137 Cr (+114.1% year on year, +56.0% on the previous half-year), and net profit ₹13.0 Cr (+225.0% year on year); the operating margin was 23.7%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹137 | +114.1% | +56.0% |
| Operating profit | ₹32.5 | +224.5% | +149.0% |
| Net profit | ₹13.0 | +225.0% | +53.0% |
| EPS (₹) | 10.96 | +118.8% | — |
| Operating margin | 23.7% | — | — |
AMCL delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the AMCL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 86.7%. That is higher than usual for this stock. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average. 1 bulk or block deal was reported in AMCL in the last 60 days: ₹11 Cr sold, none bought.
Delivery in the last 5 sessions: 94.3% · 69.2% · 87.5% · 75.0% · 100.0%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 12 Oct | Sell | Minerva Ventures Fund | ₹11.34 Cr | ₹295.81 | 383,200 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Acuité Ratings & Research has assigned a long-term credit rating of 'ACUITE BBB' with a 'Stable' outlook to ANB Metal Cast Limited's ₹59.00 crore bank loan facilities. The rationale highlights the company's revenue growth to ₹225.19 crore in FY26 from ₹162.57 crore in FY25 (a 2-year CAGR of 41.70%) and net worth expansion to ₹98.34 crore. The rating is supported by a conservative gearing ratio of 0.50x and interest coverage of 11.12x, though constrained by working capital intensity with GCA days at 263 days.
- Assigned new credit rating of 'ACUITE BBB' with 'Stable' outlook for ₹59.00 Cr bank loan facilities
- Operating income rose to ₹225.19 Cr in FY26 compared to ₹162.57 Cr in FY25, reflecting a 41.70% 2-year CAGR
- Operating margin expanded to 14.41% in FY26 (up from 10.71% in FY25), with PAT margin at 9.53%
- Gearing stood low at 0.50x in FY26 with interest coverage ratio at 11.12x, against total debt of ₹48.74 Cr
- Proposed ₹15 Cr capex to expand extrusion press capacity from 9,800 MTPA to 18,000 MTPA by January 2027
ANB Metal Cast Limited has scheduled its 7th Annual General Meeting for Wednesday, September 30, 2026. The company has fixed September 23, 2026, as the cut-off date to determine shareholder eligibility for e-voting. Additionally, the Register of Members and Share Transfer Books will be closed from September 24, 2026, to September 30, 2026 (both days inclusive). This is a standard statutory disclosure with no direct impact on financial operations.
- 7th Annual General Meeting scheduled for September 30, 2026
- Cut-off date for e-voting set for September 23, 2026
- Share transfer books closed from September 24, 2026, to September 30, 2026
ANB Metal Cast Limited has issued the notice for its 7th Annual General Meeting scheduled for September 30, 2026. Key special resolutions include approval of related party transactions up to ₹50 crore with AZ Windows Private Limited (a promoter-held entity with 65% ownership) for FY 2026-27. Additionally, the company seeks shareholder approval to change its name to 'ANB Limited' to reflect broader business diversification. Resolutions also cover secretarial auditor appointment for a 5-year term (FY 2026-27 to FY 2030-31) and ratification of ₹25,000 cost auditor remuneration.
- 7th AGM scheduled for September 30, 2026, at 12:00 P.M. via Video Conferencing.
- Proposed related party transactions of up to ₹50 crore with AZ Windows Private Limited for FY 2026-27.
- Proposed change of name from 'ANB Metal Cast Limited' to 'ANB Limited' subject to RoC and shareholder approvals.
- Appointment of M/s. H Togadiya & Associates as Secretarial Auditors for 5 years (FY 2026-27 to FY 2030-31).
- Ratification of ₹25,000 remuneration plus applicable taxes for Cost Auditor M/s. Sagar M. Kapadiya & Co.
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
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.
