Nova Iron & Steel Files 34th Annual Report, Announces AGM

Nova Iron & Steel Ltd has filed its 34th Annual Report for the year ended March 31, 2026, along with the notice of its Annual General Meeting (AGM). The company reported a Gross Revenue of ₹46,666.07 lakhs (₹466.66 Crore), an increase of 11.93% from the previous year. However, it incurred a net loss of ₹1,596.89 lakhs (₹15.97 Crore) for the year, a significant shift from the profit of ₹14,879.22 lakhs (₹148.79 Crore) in the prior year. This loss is attributed to the disposal of charged assets following the lender's enforcement due to debt repayment inability, which disrupted operations. The company is transferring assets to lenders as per an award and is diversifying into trading iron, metals, and steel products to generate new revenue streams and reduce debt.