Nova Iron & Steel Ltd — Others, 23-08-2025: Others

Nova Iron & Steel's FY25 Annual Report shows a 148.79 Cr profit, a major improvement from last year's 93.80 Cr loss. This profit largely results from writing back 160.48 Cr in old borrowings. Gross sales, however, declined by 26.20%. The company plans capacity expansion and asset realization to reduce debt. Critically, a financial creditor filed an insolvency application, and auditors highlight a material uncertainty regarding the company's 'going concern' status due to negative net worth and current liabilities exceeding assets, urging investor caution.