Nova Iron & Steel Ltd

Reclassification filing

• Nova Iron & Steel submitted June 22, 2026 to BSE seeking NOC/approval to reclassify promoter holders to Public
• The request concerns three promoter shareholders: Aniket Singal, Priyanka Ankit Miglani, and Radhika Saurabh Dhoot
• All three currently hold NIL shares (0.00% of paid-up capital)
• Earlier application was closed by BSE; fresh submission filed on June 22, 2026
• Subject to SEBI LODR Regulation 31A(8)(c) compliance

Cost Auditor Re-appointment

• Board approved re-appointment of M/s J.K. Kabra & Company as Cost Auditor for FY2026-27.
• Term of appointment: 1 year from 1 April 2026 to 31 March 2027.
• Remuneration to be ratified by members at the ensuing AGM.

Appointments / Re-appointments

• Re-appointment of Hardev Chand Verma as Non-Executive, Non-Independent Director liable to retire by rotation.
• Continuation of Hardev Chand Verma as Non-Executive, Non-Independent Director beyond age 75.
• Re-appointment of M/s J.K. Kabra & Company as Cost Auditor for FY 2026-27, subject to remuneration ratification.

AGM Scheduling

• Notice for 34th AGM scheduled on 30 Oct 2026 at 1:00 PM via VC/OAVM.

MOA Alteration

• Alteration of MOA Clause III(A) with new sub-clause 4, subject to shareholder approval.

Charge satisfaction

• Nova Iron & Steel filed satisfaction of charge with ROC on 15/09/2026 for Essenn Investments Private Limited.
• Charge ID 100951799; SRN AC6053145.
• Charge amount ₹39.69 crore (₹396,937,630) originally dated 25/05/2024.
• Satisfaction completed on 20 August 2026.
• ROC certificate received on 15 September 2026; documents signed by Official Liquidator.
• Original charge between Nova Iron & Steel Limited and Essenn Investments Private Limited.
• Notice to update investor site.
• Fully satisfied; no outstanding balance under this charge.

Publication of unaudited results extract

• Extract of unaudited Q1-2026 results published in Financial Express and Chhattisgarh on 13.09.2026.
• Compliance with Regulation 47 of SEBI LODR; earlier intimation dated 11.09.2026.
• Copies enclosed; company to update website for shareholders and investors.

Financial results approved

• Unaudited standalone results approved for the quarter ended June 30, 2026.

Going concern and regulatory disclosures

• Note reports material going concern uncertainty due to loss of manufacturing base from lender actions.
• Pending litigations including IBC proceedings indicate significant financial risk.

Auditor remarks

• Auditor's review is qualified for non-recognition of interest on borrowings.
• Auditor notes going concern uncertainty in the statements.

Operational shift

• Trading commenced from 01-Apr-2026 after license termination; manufacturing ceased.

Financial highlights

• Revenue from operations: 6,749.03 lakh rupees for quarter ended 30 June 2026.
• Auditor notes going concern uncertainty due to loss of manufacturing base.

Exceptional items

• Exceptional items include gain on disposal of assets (Rs 5.98 lakh) and lease termination gain (Rs 302.29 lakh).

Audit & going concern

• Independent auditor's review is qualified due to unrecognized interest on borrowings.

Publication of results extract

• Extract of audited financial results for quarter and year ending 31/03/2026 published.
• Publications appeared in Financial Express and Chhattisgarh on 11/09/2026.
• Request to update the website for shareholders and investors.

Key audited standalone results

• Audited standalone results for year ended March 31, 2026: total income 46,792.13 Lakhs; net loss 1,596.91 Lakhs.
• EPS (after exceptional items) is negative 4.42 Rs.
• Total assets stand at 28,610.41 Lakhs; total liabilities at 31,316.89 Lakhs; net worth negative 2,706.48 Lakhs.
• Auditor qualifies the result due to non-compliance and lack of balance confirmations; going concern risk flagged.
• Disposal of charged assets to Shree Balaji Steel in 2025; leased back for manufacturing.
• Provisional attachment orders by Enforcement Directorate totaling Rs 28.40 Crore; some assets attached.
• Current liabilities exceed current assets by Rs 10,912.64 Lakhs; going concern justification given.
• Board approved these audited results on Sept 9, 2026; audit report issued Sep 9, 2026.