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Nova Iron & Steel Q1 FY27 results: net profit down 61.1% to ₹0.86 crore, revenue down 40.3%
Nova Iron & Steel Ltd reported standalone revenue of ₹67.49 crore and a net profit of ₹0.86 crore for Q1 FY27, compared with ₹112.97 crore and ₹2.21 crore in Q1 FY26. EBITDA turned to a loss of ₹1.93 crore from ₹7.68 crore, while the company reported a ₹3.11 crore exceptional gain. The quarter’s unaudited results were approved by the board on 11 September 2026 and reviewed by MNRS & Associates.
Key points
- Revenue was ₹67.49 crore in Q1 FY27, down ₹45.48 crore from ₹112.97 crore in Q1 FY26.
- EBITDA was a loss of ₹1.93 crore in Q1 FY27, against ₹7.68 crore in Q1 FY26, while the margin fell to -2.9% from 6.8%.
- Net profit was ₹0.86 crore, down ₹1.35 crore from ₹2.21 crore in Q1 FY26, and basic EPS was ₹0.24.
- Profit before tax was ₹0.86 crore, compared with ₹2.21 crore in Q1 FY26; the quarter included a ₹3.11 crore exceptional gain.
- Revenue in the peer set grew at a median 14.2%, with 81 peers growing faster than Nova Iron & Steel and 4 growing slower.
How did Nova Iron & Steel perform in Q1 FY27?
Nova Iron & Steel reported standalone revenue of ₹67.49 crore for Q1 FY27, down ₹45.48 crore from ₹112.97 crore in Q1 FY26. EBITDA was a loss of ₹1.93 crore, compared with ₹7.68 crore in the year-ago quarter, while the EBITDA margin moved to -2.9% from 6.8%. The figures are standalone; no consolidated revenue or profit figures were provided.
Profit before tax was ₹0.86 crore in Q1 FY27, against ₹2.21 crore in Q1 FY26, and net profit was ₹0.86 crore, down ₹1.35 crore. Basic EPS was ₹0.24, compared with ₹0.61 in the year-ago quarter. Against Q4 FY26, revenue fell ₹68.34 crore to ₹67.49 crore, EBITDA moved from ₹5.92 crore to a loss of ₹1.93 crore, and net profit moved from a loss of ₹5.35 crore to ₹0.86 crore.
| ₹ crore | Q1 FY27 | Q4 FY26 | Q1 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 67.49 | 135.83 | 112.97 | −40.3% | −50.3% |
| Other income | 0.15 | 0.33 | 0.15 | +0.0% | −54.5% |
| Total expenses | 69.89 | 138.84 | 110.91 | −37.0% | −49.7% |
| EBITDA | −1.93 | 5.92 | 7.68 | turned to loss | turned to loss |
| EBITDA margin | -2.9% | 4.4% | 6.8% | −9.7 pp | −7.3 pp |
| Profit before tax | 0.86 | 0.70 | 2.21 | −61.1% | +22.9% |
| Tax | 0 | 6.05 | 0 | ||
| Net profit | 0.86 | −5.35 | 2.21 | −61.1% | turned to profit |
| EPS (₹) | 0.24 | 0.61 | −60.7% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Nova Iron & Steel's costs and profit?
Total expenses were ₹69.89 crore in Q1 FY27, down ₹41.02 crore from ₹110.91 crore in Q1 FY26. Employee cost fell ₹2.26 crore to ₹2.24 crore, finance costs fell ₹1.32 crore to ₹0.18 crore, depreciation fell ₹3.83 crore to ₹0.29 crore, and other expenses fell ₹18.75 crore to ₹0.89 crore. The reported cost of materials was ₹0 crore, down ₹83.86 crore from ₹83.86 crore in the year-ago quarter.
Other income was ₹0.15 crore, unchanged from Q1 FY26 and down ₹0.18 crore from ₹0.33 crore in Q4 FY26. The quarter included a ₹3.11 crore exceptional gain, compared with a ₹3.38 crore gain in Q4 FY26 and no exceptional item in Q1 FY26. Tax was ₹0 crore in both Q1 FY27 and Q1 FY26, while PBT declined ₹1.35 crore to ₹0.86 crore.
| ₹ crore | Q1 FY27 | Q1 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 83.86 | −83.86 | |
| Employee cost | 2.24 | 4.50 | −2.26 | −50.2% |
| Finance costs | 0.18 | 1.50 | −1.32 | −88.0% |
| Depreciation | 0.29 | 4.12 | −3.83 | −93.0% |
| Other expenses | 0.89 | 19.64 | −18.75 | −95.5% |
| Total expenses | 69.89 | 110.91 | −41.02 | −37.0% |
| Other income | 0.15 | 0.15 | 0 | +0.0% |
| Tax | 0 | 0 | 0 | |
| Exceptional items | +3.11 (gain) | none |
Source: Company's results filing (XBRL).
How has Nova Iron & Steel done over the last 8 quarters?
Revenue reached its highest level in Q4 FY26 at ₹135.83 crore and its lowest in Q1 FY27 at ₹67.49 crore. Profit was highest in Q4 FY25 at ₹157.88 crore and moved to a loss of ₹5.35 crore in Q4 FY26 before returning to ₹0.86 crore in Q1 FY27.
The EBITDA margin peaked at 6.8% in Q1 FY26 and bottomed at -6.2% in Q4 FY25. It was 4.4% in Q4 FY26 before moving to -2.9% in Q1 FY27, while revenue fell from ₹135.83 crore to ₹67.49 crore and profit moved from a loss of ₹5.35 crore to ₹0.86 crore.
What did the auditors point out?
MNRS & Associates issued a qualified conclusion on the standalone results for the quarter ended 30 June 2026. The auditors said the company had not recognised interest on borrowings outstanding with certain lenders within finance costs, and that the impact could not be ascertained because the required information was unavailable.
The auditors also stated that the results were prepared on a going-concern basis and that a material uncertainty existed. They referred to the company having lost its manufacturing base, including capital work-in-progress, due to charge enforcement by lenders, together with pending litigation under the Insolvency and Bankruptcy Code, 2016 and provisional attachments. Management nevertheless prepared the results on a going-concern basis.
How did Nova Iron & Steel shares react?
After the filing, the stock was up 8.0% at 5 minutes, 15 minutes and 30 minutes. On the reaction day, it closed up 20.0% from the pre-results close of ₹12.83; by the next day’s close, the gain from that close was 43.9%.
By the fifth session’s close, the stock was up 1.7% from the pre-results close. The industry median moved 0.3% on the reaction day, -0.4% by the next day’s close and -1.3% by the fifth session’s close. Earlier reaction-day moves were -2.5% on 26 February 2026, 1.2% on 4 July 2025, -0.7% on 30 May 2025 and -3.7% on 5 August 2024.
| After the filing | Stock | Iron & Steel Products median |
|---|---|---|
| 5 minutes | +8.0% | |
| 15 minutes | +8.0% | |
| 30 minutes | +8.0% | |
| Reaction day | +20.0% | +0.3% |
| Next day | +43.9% | −0.4% |
| 5 days | +1.7% | −1.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 26 February 2026 | −2.5% |
| 4 July 2025 | +1.2% |
| 30 May 2025 | −0.7% |
| 5 August 2024 | −3.7% |
Source: MarketPing price-reaction measurement.
How did other Iron & Steel Products companies do?
Among 85 Iron & Steel Products companies compared, the median revenue growth was 14.2%. Four peers grew more slowly than Nova Iron & Steel and 81 grew faster, while 69 peers reported higher profit.
| Nova Iron & Steel revenue growth (YoY) | −40.3% |
|---|---|
| Median of 85 other Iron & Steel Products companies | +14.2% |
| Companies with slower revenue growth than Nova Iron & Steel | 4 of 85 |
| Companies with faster revenue growth than Nova Iron & Steel | 81 of 85 |
| Companies whose net profit rose | 69 of 99 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Nova Iron & Steel's revenue in Q1 FY27?
Revenue from operations was ₹67.49 crore, down 40.3% from ₹112.97 crore in Q1 FY26 (standalone).
Did Nova Iron & Steel make a profit in Q1 FY27?
Yes. Net profit was ₹0.86 crore, against a net profit of ₹2.21 crore in Q1 FY26.
What was Nova Iron & Steel's EPS in Q1 FY27?
Basic earnings per share were ₹0.24, against ₹0.61 in Q1 FY26.
How did Nova Iron & Steel shares react to the Q1 FY27 results?
On the reaction day the stock moved +20.0% from the previous close; the median Iron & Steel Products stock moved +0.3%.
When did Nova Iron & Steel announce its Q1 FY27 results?
On 9 September 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting Under Regulation 29 SEBI (Listing Obligation And Disclosures Requirements) Regulations, 2015 (BSE, 3 September 2026) · PDF
- Board Meeting Intimation for Intimation Of Board Meeting Under Regulation 29 SEBI (Listing Obligation And Disclosures Requirements) Regulations, 2015 (BSE, 4 September 2026) · PDF
- Board Meeting Outcome for Outcome Of Meeting Of The Board Of Directors Of Nova Iron And Steel Limited (The 'Company') (BSE, 9 September 2026) · PDF
- Submission Of Audited Financial Results For The Quarter And Year Ended 31St March, 2026 (BSE, 9 September 2026) · PDF
- Un-Audited Financial Results For The Quarter Ended 30/06/2026 (BSE, 11 September 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On 11Th September, 2026 (BSE, 11 September 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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