Nova Iron & Steel Ltd (NISL) has received approval from the BSE Limited for the reclassification of Ambey Steel and Power Private Limited from the 'Promoter Group' category to the 'Public' category. This development marks a significant change in the company's shareholding structure and compliance with regulatory requirements.

Key Details of the Reclassification

Approval Process and Timeline

Regulatory Compliance

The reclassification was carried out in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Nova Iron & Steel Ltd is required to ensure compliance with subsequent relevant disclosures of material events related to this reclassification.

Company's Response

Dheeraj Kumar, Company Secretary of Nova Iron & Steel Ltd, confirmed the receipt of the approval letter from BSE Limited. The company has stated that the information regarding the reclassification will be made available on their official website at https://novaironsteel.com .

Additional Corporate Updates

In related news, Nova Iron & Steel Ltd held its 33rd Annual General Meeting (AGM) on September 17, 2025, through video conferencing. The AGM addressed several matters, including:

1. Adoption of financial statements for the year ended March 31, 2025
2. Reappointment of Mr. Hardev Chand Verma as Director
3. Appointment of Mr. Suraj Prakash Choudhary as an Independent Director
4. Ratification of Cost Auditors' remuneration
5. Appointment of M/s K.V. Bindra & Associates as Secretarial Auditor
6. Revision in remuneration of Mr. Dinesh Kumar Yadav, Whole Time Director

The reclassification of Ambey Steel and Power Private Limited and the proceedings of the AGM demonstrate Nova Iron & Steel Ltd's commitment to corporate governance and regulatory compliance. Shareholders and investors are advised to take note of these developments in their assessment of the company's structure and operations.

Nova Iron & Steel , a prominent player in the steel industry, has announced its unaudited financial results for the first quarter, showcasing strong performance amid challenging market conditions.

Financial Highlights

The company reported a total income from operations of Rs 1,430.90 crore for the quarter, demonstrating its resilience and market strength. [Nova Iron & Steel] achieved a net profit after tax of Rs 127.48 crore, indicating effective cost management and operational efficiency.

Key Metrics

The company's paid-up equity share capital stands at Rs 22.94 crore, reflecting a stable capital structure.

Corporate Actions

In a move to enhance shareholder accessibility, Nova Iron & Steel has announced a special window for re-lodging physical share transfer requests. This initiative, in compliance with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 2, 2025, allows shareholders to re-submit transfer deeds lodged before April 1, 2019, that were previously rejected, returned, or left unprocessed due to documentation or procedural issues.

The special window is open from July 7, 2025, to January 6, 2026, providing an extended opportunity for shareholders who missed the earlier deadline of March 31, 2021. Interested shareholders can submit the necessary documents to the company's Registrar and Transfer Agent, Beetal Financial & Computer Services Pvt. Ltd.

Industry Context

Nova Iron & Steel's strong performance comes at a time when several companies in the manufacturing sector have reported their quarterly results. The steel industry, in particular, has shown resilience despite global economic challenges, with Nova Iron & Steel's results reflecting the sector's potential for growth and profitability.

Conclusion

As Nova Iron & Steel continues to navigate the dynamic steel market, its quarterly results indicate a positive performance, positioning the company for potential growth in the coming periods.

Investors and stakeholders can access more detailed information about the financial results on the company's website ( www.jtl.one ) and the BSE website ( www.bseindia.com ).