Nova Iron & Steel Ltd — Results, 04-07-2025: Result

Nova Iron & Steel Ltd has announced a board meeting to approve the financial results for the quarter and half-year. The company reported total income of Rs. 419.85 Cr for the year with a net profit of Rs. 148.79 Cr despite exceptional items impacting prior periods. However, current liabilities exceed current assets by Rs. 98.23 Cr, and net worth remains negative at Rs. (11.30) Cr, raising concerns about its ability to continue as a going concern. The auditor issued a qualified opinion citing lack of confirmations for significant receivables, payables, loans of Rs. 75.21 Cr, investments valuation issues, and absence of controls to identify MSME suppliers. The company remains optimistic about future operations supported by ongoing capacity expansion and positive cash flows from operations.