ANB Metal Cast deploys Rs 40.46 crore; Rs 2.10 crore remains

ANB Metal Cast Limited had deployed Rs 40.46 crore of Rs 42.56 crore in net issue proceeds by September 30, 2026, leaving Rs 2.10 crore in its current account for manufacturing-expansion capital expenditure. The certificate shows full deployment of Rs 21.50 crore for long-term working capital and Rs 7.36 crore for general corporate purposes.

How much of ANB Metal Cast's issue proceeds was deployed?

ANB Metal Cast had deployed Rs 40.46 crore of its Rs 42.56 crore net issue proceeds at the end of the quarter ended September 30, 2026. The figure comprised Rs 11.60 crore used for expansion capital expenditure, Rs 21.50 crore for long-term working capital, and Rs 7.36 crore for general corporate purposes.

K M Chauhan & Associates certified the utilisation using ANB Metal Cast's unaudited books and relevant records as at September 30, 2026. The certificate, dated November 5, 2026, states that use of the net proceeds was in line with the objects disclosed in the offer document and was furnished to Acuite Ratings & Research Limited under a monitoring agency agreement dated July 7, 2025.

Long-term working capital was the largest stated object at Rs 21.50 crore and had been fully deployed by September 30, 2026. Expansion capital expenditure was allocated Rs 13.70 crore and was the only object carrying an unutilised balance, while the Rs 7.36 crore general-corporate-purpose allocation was also fully used.

What remains unspent from ANB Metal Cast's issue proceeds?

ANB Metal Cast had Rs 2.10 crore unspent as of September 30, 2026, entirely earmarked for capital expenditure on the proposed expansion of its existing manufacturing facilities. The balance was the unused portion of the Rs 13.70 crore allocated to this object in the offer document.

The expansion object covers construction of an additional floor and installation of additional plant and machinery. The certificate does not provide a separate physical-progress measure for the construction or equipment installation, but it records cumulative capital-expenditure utilisation of Rs 11.60 crore by the quarter end.

During the quarter ended September 30, 2026, ANB Metal Cast deployed Rs 2.96 crore towards the expansion project. Cumulative use for the object therefore rose from Rs 8.64 crore at the beginning of the quarter to Rs 11.60 crore at its end, while no quarterly deployment was reported for working capital or general corporate purposes because those allocations were already fully utilised.

The Rs 2.10 crore balance was shown as outstanding in ANB Metal Cast's current account on September 30, 2026. The deployment schedule reported no investment instrument, invested amount, maturity date, earnings, return on investment, or quarter-end market value for the unutilised proceeds.

Did ANB Metal Cast report a delay in its expansion plan?

ANB Metal Cast did not report a delay in implementation of an issue object in the September 30, 2026 monitoring certificate. Its delay table records “NA” for the object, the scheduled completion date, the actual completion date, and the number of days or months of delay.

The “NA” entries mean the certificate did not identify a reportable delay or provide a completion timetable for the expansion. The filing does not state when the additional floor or plant and machinery will be completed, leaving deployment of the Rs 2.10 crore capital-expenditure balance as the remaining disclosed step for this issue object.

K M Chauhan & Associates said its report followed the format prescribed by the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations, 2018. The firm also declared that it had no direct or indirect interest in, or relationship with, ANB Metal Cast, its promoters, directors or management that it considered a conflict while monitoring the proceeds.

How do the proceeds disclosures compare with ANB Metal Cast's financial results?

ANB Metal Cast's issue-proceeds disclosure is separate from its financial results, but the half year ended September 30, 2026 provides context for the quarter in which Rs 2.96 crore of expansion expenditure was deployed. Revenue from operations was Rs 156.7815 crore for the half year, compared with Rs 87.8036 crore in the half year ended September 30, 2025.

Profit after tax was Rs 11.5263 crore for the half year ended September 30, 2026, compared with Rs 8.494 crore a year earlier. Finance costs increased to Rs 2.1208 crore from Rs 1.3745 crore, while depreciation and amortisation rose to Rs 42.35 lakh from Rs 40.98 lakh in the corresponding prior-year period.

Net cash flow from operating activities was negative Rs 19.071 crore in the half year ended September 30, 2026, compared with negative Rs 33.5374 crore in the comparable 2025 period. Purchase of fixed assets was Rs 3.6849 crore, compared with Rs 19.59 lakh a year earlier, while cash and cash equivalents stood at Rs 1.5382 crore on September 30, 2026, versus Rs 13.683 crore on September 30, 2025.

ANB Metal Cast reported a single segment under Accounting Standard 17, so its financial statements do not separately identify revenue, profit, assets or cash flow from the expansion project. The proceeds certificate instead distinguishes Rs 11.60 crore of cumulative expansion use from the Rs 28.86 crore combined utilisation for working capital and general corporate purposes.

Conclusion

The September 30, 2026 certificate shows that ANB Metal Cast had completed deployment for its Rs 21.50 crore working-capital object and Rs 7.36 crore general-corporate-purpose object, while construction and machinery-related expansion remained the sole use with a balance. The Rs 2.96 crore spent on that object during the quarter lifted cumulative capital-expenditure use from Rs 8.64 crore to Rs 11.60 crore.

The next disclosure to watch is whether ANB Metal Cast deploys the remaining Rs 2.10 crore held in its current account and provides additional progress on the additional floor and plant and machinery. The certificate reported no implementation delay as of September 30, 2026, but did not disclose either a scheduled or actual completion date for the expansion.