Generally speaking, the majority of foundries use their own scrap for castings, but for better results in terms of properties, they preferred to use other types of scrap, such as ductile iron, pig iron, mild steel scrap (light, medium, and heavy), foundry returns, and machine shop borings for the production of grey cast iron. This study's primary goal is to analyse the technical and financial viability of internal brake drum casting at Bhalotia Auto Products Private Limited, a foundry located in Jamshedpur's Adityapur Industrial Area. Various combinations of scrap and alloying components were used for this study. Based on an examination of the sample's physical, chemical, mechanical, and optical properties, its performance is evaluated. Tensile strength, hardness, fractography, wear test, and metallurgical examinations (using an optical microscope and image analyser) are among the tests done on the sample. According to reports, the strength is quite excellent, with UTS ranging from 250 to 300 MPa, hardness between 200 and 240 BHN, and 90% “A” type graphite flakes (size: 4 to 6) with over 95% pearlite found in the optical research. The results of this study demonstrate the financial advantages of utilising various combinations of scrap and alloying components.