This is with reference to our earlier submission, dated 23/08/2025, of the Annual Report for the financial year 2024-25 pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure ....
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Nova Iron & Steel has filed a revised Annual Report for FY 2024-25 with BSE as a corrigendum to its earlier submission dated 23 August 2025. The original report had inadvertently omitted Note No. 4 on Significant Accounting Policies; this revised version includes that note, and the company confirms there are no other changes to financial or non-financial disclosures. The attached Annual Report shows FY25 gross revenue of Rs. 41,984.92 lakhs, down 26.2% from Rs. 56,896.14 lakhs in FY24. Net profit swung to Rs. 14,879.22 lakhs (from a Rs. 9,380.09 lakh loss last year), largely driven by a Rs. 15,808.36 lakh exceptional gain from write-back of time-barred borrowings. The Board has not recommended any dividend, and the statutory auditor has flagged qualifications around unconfirmed receivables, unsecured borrowings of Rs. 7,521.27 lakhs, and pending fair-value measurement of investments.
This is a procedural correction rather than a material event, so limited direct impact on the stock is expected. However, the underlying annual report highlights weaker top-line performance and ongoing risks including a pending CIRP application filed by Bhushan Power & Steel at NCLT Cuttack, plus auditor qualifications that shareholders should note.