Nova Iron & Steel Limited anticipates a delay in submitting its audited financial results for the quarter and year ended March 31, 2026, citing the consequential impact of previous delays in unaudited filings. The company was required to submit these results to the stock exchange by May 30, 2026, under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The delay stems from lags in submitting unaudited results for the periods ended September 30, 2025, and December 31, 2025.

The preparation of financial statements and the completion of the statutory audit are currently in progress. The company stated it is making all efforts to finalize the audit process and submit the audited financial results at the earliest. This disclosure was communicated to the Bombay Stock Exchange via an online portal filing dated May 30, 2026.

The board meeting held on May 30, 2026, addressed the delay pursuant to SEBI Circular CIR/CFD/CMD-1/142/2018 dated November 19, 2018. This circular mandates listed entities to disclose specific reasons for any delays in filing financial results.

In addition to the financial results delay, the board approved the shifting of the company's registered office within local limits. The directors also granted authority to maintain the books of account, other relevant books, papers, minutes, and registers at a location other than the registered office.

The meeting commenced at 3:00 P.M. and concluded at 5:00 P.M. The filing was signed by Dheeraj Kumar, Company Secretary of Nova Iron & Steel Limited.

Nova Iron & Steel Limited has progressed with its promoter reclassification process, submitting a formal application to BSE Limited on April 14, 2026. The company's board had previously approved the reclassification request during its meeting held on April 8, 2026, involving three promoters seeking to transition their shareholding status from the promoter category to the public category, representing a combined stake of 9.09%.

BSE Application Submission

In compliance with Regulation 31A(8)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Nova Iron & Steel Limited submitted its application to BSE Limited seeking NOC/Approval for the promoter reclassification. The company formally intimated BSE about this submission through a letter dated April 15, 2026, confirming that the application was filed on April 14, 2026.

Board Meeting Outcome

The board meeting, which commenced at 4:15 P.M. and concluded at 5:00 P.M. on April 8, 2026, considered the reclassification request submitted by the promoters on March 31, 2026. The board unanimously approved the request in compliance with Regulations 30 and 31A(8) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Promoter Details and Shareholding

The reclassification involves three promoters who currently hold equity shares in the company:

Regulatory Compliance and Conditions

The board confirmed that the outgoing promoters satisfy all conditions prescribed under Regulation 31A(3)(b) of the SEBI Listing Regulations. Key aspects of their status include no representation on the board of directors, no key managerial positions in the company, no participation in company management, no special rights through formal or informal arrangements, and no involvement in any shareholder agreements.

Approval Process and Current Status

With the BSE application now submitted, the reclassification process moves to the regulatory approval stage. As per Regulation 31A provisions, the company must obtain shareholder approval through appropriate resolution, stock exchange approval from BSE Limited, and any other regulatory approvals that may be required. The board has authorized company officials including directors, company secretary, and chief financial officer to undertake all necessary actions for completing the reclassification process.