Nova Iron & Steel Limited has published its unaudited financial results for the quarter and half year ending 30/09/2025, fulfilling its regulatory obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. The company announced the publication through a formal communication to the Bombay Stock Exchange on 28/02/2026.

Financial Performance Overview

The company's financial results for the reporting period present a mixed performance picture across different metrics and timeframes.

Capital Structure and Reserves

The company's capital structure remained unchanged during the reporting period, with equity share capital maintained at ₹3613.95 lakhs. However, the reserves position shows a significant deficit of ₹4628.72 lakhs, compared to ₹1918.47 lakhs in the previous year, indicating accumulated losses over time.

Regulatory Compliance and Publication

The financial results extract was published in "Financial Express," an English national daily, and "Aaj Ki Jandhara," a regional daily on 28/02/2026. This publication ensures compliance with Regulation 47 of SEBI (LODR) requirements for listed companies. The company has requested the stock exchange to update its website for the information of shareholders and investors.

Performance Analysis

The quarterly results show contrasting trends between pre-tax and post-tax performance. While the company achieved a substantial net profit before tax of ₹1080.34 lakhs for the quarter, it reported a net loss after tax of ₹105.52 lakhs. The half-year performance shows better overall results with a net profit after tax of ₹115.21 lakhs, indicating improved operational efficiency over the extended period.

The earnings per share improved significantly from ₹-2.45 in the corresponding quarter of the previous year to ₹0.29 in the current quarter, reflecting the company's recovery trajectory. The detailed quarterly financial results are available on stock exchange websites and the company's official website for comprehensive analysis by stakeholders.

Nova Iron & Steel Limited has announced its unaudited financial results for the quarter and half year ended September 30, 2025, revealing a mixed performance with operational improvements offset by asset disposal challenges. The company's Board of Directors approved these results in a meeting held on February 26, 2026.

Financial Performance Overview

The company demonstrated revenue growth in Q2FY26 with operations generating ₹10,803.54 lakhs compared to ₹9,937.85 lakhs in the corresponding quarter of the previous year. However, this represented a sequential decline from Q1FY26's revenue of ₹11,297.09 lakhs.

Half Year Performance

For the half year ended September 30, 2025, the company showed improved profitability despite lower revenue. Revenue from operations stood at ₹22,100.63 lakhs compared to ₹22,447.39 lakhs in H1FY25, representing a decline of 1.54%. However, the company achieved a turnaround with net profit of ₹115.21 lakhs against a loss of ₹436.34 lakhs in the previous year.

Significant Asset Disposal and Lease Arrangement

A major development during the period was the disposal of charged assets to Shree Balaji Steel and Metal Private Limited on August 1, 2025. This disposal occurred due to the enforcement of charge by the lender following the company's inability to repay its debt, which resulted in an 'event of default' under the settlement agreement dated May 7, 2024. Shareholders approved this transaction in the Annual General Meeting held on September 17, 2025.

To ensure business continuity, the company entered into a lease agreement dated August 1, 2025, to obtain the same undertaking on lease for an initial period of 6 months. This arrangement was subsequently extended for an additional 60 months through a lease agreement dated January 21, 2026.

Balance Sheet Position

As of September 30, 2025, the company's total assets stood at ₹32,064.00 lakhs compared to ₹30,612.91 lakhs as of March 31, 2025. The company continues to face equity challenges with negative equity of ₹1,014.77 lakhs, though this represents an improvement from ₹1,130.00 lakhs negative equity as of March 31, 2025.

Auditor Observations

The independent auditors issued a qualified review report, highlighting concerns about the disposal of charged assets and compliance with SEBI regulations. They also noted that the company has not recognized interest on borrowings from certain lenders in the finance costs, with the impact being unascertainable due to insufficient information.

Earnings Per Share

The company reported basic and diluted earnings per share of ₹(0.29) for Q2FY26 after exceptional items, compared to ₹(2.45) in Q2FY25. For the half year, earnings per share improved to ₹0.32 from ₹(1.21) in the previous year.