Nova Iron & Steel logo

Nova Iron & Steel financials: balance sheet, profit and loss, cash flow

BSE: 513566Industrial ProductsSmall Cap

Nova Iron & Steel Ltd. · Face value ₹10 · Listed May 1994
Last close ₹13.05down ₹0.68 (4.95%)

Share price at the BSE close on 30 Oct 2026. Previous close ₹13.73.

30 Oct: open ₹13.46, high ₹13.70, low ₹13.05

52-week range of traded prices to 30 Oct 2026
₹10.54Low, 7 Apr 2026₹18.46High, 11 Sep 2026
Market cap
₹47 Cr3,517th largest listed
P/E
Lossover the last 12 months
P/B
Net worth zero or below
Dividend yield
Nonein the last 12 months
ROE
Net worth zero or below
ROCE
−13.5%
Debt to equity
Net worth zero or below
Volume, BSE
319

Nova Iron & Steel's financial statements for the 10 years to Mar 2026, standalone: the listed company alone, without its subsidiaries, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Nova Iron & Steel annual reports

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
  • Loss
532.6Mar 17202.3Mar 183.60.6338Mar 1952−52329Mar 20345−12311Mar 21605−15332Mar 22698−1.8331Mar 23564−94397Mar 24417149247Mar 25467−16152Mar 26
A loss in the year to Mar 2026, −₹16 CrA loss in 6 of the 10 years shown

Operating and net margin, per cent

  • Operating margin
  • Net margin
43.1%−100.0%19.5%43.1%−93.5%−71.1%2.2%2.6%3.7%0.4%2.2%2.4%4.8%11.6%17.2%−100.0%−3.5%−2.4%−0.3%−16.6%35.7%−3.4%Mar 17Mar 19Mar 21Mar 23Mar 25Mar 26

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 1.9% of operating profit in the first full year.

The years either side of a change of basis do not compare. From the year to Mar 2020, the company's revenue for that year, ₹52 Cr, differs from its quarters added, ₹114 Cr.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

  1. Revenue467
  2. Materials and goods−351
  3. Employee costs−18
  4. Other expenses−86
  5. Operating profit11
  6. Depreciation−22
  7. Other income+1.3
  8. One-off items+12
  9. Finance costs−12
  10. Profit before tax−9.9
  11. Tax−6.0
  12. Net profit−16

What the company owns

  • Plant, investments and other assets₹262 Cr
  • Inventory₹12 Cr
  • Receivables₹11 Cr
  • Cash and bank₹1 Cr

What pays for it: net worth and liabilities

  • Borrowings₹152 Cr
  • Other liabilities₹96 Cr
  • Owed to suppliers₹38 Cr

Profit and loss

Standalone, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Nova Iron & Steel quarterly results

₹ croreMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Filed 9 SepJun 2026Twelve monthsFiled 11 Sep
Revenue from operations5320452345605698564417467421
4311789337590673561408455420
Materials and goods bought3821556293510576438304351336
Employee costs–45777812171816
Other expenses–4−1326377388111878667
Operating profit before depreciation108−3−378162629112
Operating margin19.5%43.1%−93.5%−71.1%2.2%2.6%3.7%0.4%2.2%2.4%0.4%
Materials, % of revenue–12.4%405.1%107.4%85.0%84.2%82.5%77.7%72.9%75.2%79.8%
Employee costs, % of revenue–22.7%136.4%13.5%1.9%1.2%1.2%2.1%4.1%4.0%3.8%
Other expenses, % of revenue–21.9%−348.1%50.2%10.8%12.0%12.7%19.7%20.8%18.4%16.0%
Depreciation and amortisation11179101045192219
Operating profit after depreciation97−4−44−1616−43−10−11−17
Other income02237855311
Finance costs77001251725111211
Profit before one-off items and tax32−3−415−113−62−18−22−27
One-off items––40000−651581215
Profit before tax321−415−113−127140−10−11
000111745−34−966
Net profit321−52−12−15−2−94149−16−17
Other comprehensive income––001000000
Total comprehensive income––1−52−11−15−2−94149−16−17
Net margin4.8%11.6%17.2%−100.0%−3.5%−2.4%−0.3%−16.6%35.7%−3.4%−4.1%
Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2017 they do not, so they are left blank.

Balance sheet

Standalone, ₹ crore, at 31 March.

₹ croreMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Filed 9 Sep
30−22−33−49−53−155−11−27
Share capital3636363636363636
Reserves−6−58−69−85−89−192−47−63
338329311332331397247152
432425504385200127160155
51735202352324158159
Total assets467420505538499295306286
389384378368377219245241
7835128170122776246
Net debt338329310330330394246151
Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March.

₹ croreMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Filed 9 Sep
18318−1036−9
19418−834−9
5−19−11−88−137−21
Receivables−130−20918
Inventories−62−514159−311
Payables45−7−372214−9
Other working capital2335−15−149−157−40
Tax paid000−220
Capital spending001036020
Free cash flow1839−4736−29
01−1−31−36−3
−17−4−1744−111
Dividends paid000000
Shares bought back000000
Shares issued000000
Net change in cash1002−20
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Per share

Standalone, ₹ per share, years to March.

₹ per shareMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Filed 9 Sep
Earnings per share₹0.71–₹0.17−₹14.45−₹3.30−₹4.09−₹0.50−₹25.96₹41.17–
Diluted earnings per share₹0.71–₹0.17−₹14.45−₹3.30−₹4.09−₹0.50−₹25.96₹41.17–
Book value per share––₹8.34−₹6.14−₹9.16−₹13.44−₹14.58−₹43.01−₹3.13−₹7.49
Shareholder yield––––0.0%0.0%–0.0%0.0%0.0%
Market cap at the year end (₹ crore)42.624.417.68.324.829.9–86.847.240.9
Earnings per share is left blank for the years to Mar 2018 and Mar 2026: the earnings per share stated does not match any profit the filing states over the shares in issue, and the share count barely moved during the period.

Ratios

Standalone, years to March.Nova Iron & Steel PE ratio and valuation

RatioMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Filed 9 Sep
Revenue growth–−63.1%−81.7%–560.5%75.6%15.3%−19.2%−26.1%11.9%
Operating profit growth–−18.3%–––103.8%63.6%−90.3%273.1%21.2%
Net profit growth–−11.3%−72.7%–––––––
––2.1%−1,313.2%43.1%36.2%3.5%90.1%−178.5%83.2%
–––−1,315.2 pts1,356.2 pts−6.9 pts−32.7 pts86.6 pts−268.6 pts261.7 pts
From the net margin–––−14.0 pts1,267.8 pts−12.6 pts−32.4 pts225.9 pts−283.5 pts195.6 pts
From asset turnover–––−170.5 pts−241.8 pts17.0 pts0.6 pts12.4 pts4.6 pts2.3 pts
From borrowing–––−1,130.7 pts330.2 pts−11.2 pts−0.9 pts−151.7 pts10.3 pts63.8 pts
Return on capital employed––−1.2%−14.5%−0.4%2.0%5.6%−17.7%−4.3%−8.9%
Cash conversion––––––––24.0%–
Interest cover1.41.1–––0.20.9–––
Debt to equity––11.22–––––––
Receivable days––3121940013108
Inventory days––1,00045868550172713
Payable days––38401618855276140
Cash conversion cycle, days––92964−72−2−43−23−19
Working capital days––−1,600−419−70−28−3216−4−15
Asset turnover––0.010.120.751.161.351.421.391.58
Assets per rupee of net worth––15.49111.49−16.73−12.77−10.24−3.82−3.61−15.44
Sales per rupee of plant––0.060.140.931.701.963.293.0027.85
Capital spending to depreciation––––0.050.000.970.800.000.91
Plant being built, % of plant in use––516.5%0.0%0.0%1.1%0.0%14.8%53.0%544.6%
Interest cover is left blank for the years to Mar 2019, Mar 2020, Mar 2021, Mar 2024, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2020, Mar 2021, Mar 2022, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: net worth is below zero, so there is no shareholders' money to set the borrowings against. Revenue growth is left blank for the year to Mar 2020: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year
−5.4%
Cash from operations against operating profit
−76.4%
Measure10 years5 years3 years
Revenue growth, yearly rate–6.2%−12.6%
Return on equity, average–6.9%−1.7%
Return on capital employed, average–−4.7%−10.3%
Operating margin, average−8.8%2.3%1.7%
Net margin, average−5.7%2.6%5.2%
Asset turnover, average–1.381.46
Cash conversion cycle, days, average–−9−13

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore5 years3 yearsLatest year
Cash from operations3817−9
Cash from investing−71−71−3
Cash from financing335411
Capital spending665720
Dividends paid000
Shares bought back000
Shares issued for cash000
Borrowings raised15913847
Borrowings repaid796215

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9––––767374
Altman Z-scorePublished threshold 1.81––−0.89−1.50−0.340.54–−0.242.470.97
Beneish M-scorePublished threshold −1.78––––0.65−1.96−1.9125.07−0.67−2.08
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets––––−6.39−3.62−3.61−13.0749.70−1.54
Cash from operations to profit, 3 yearsPublished threshold 0.7 times––––––––0.820.43
Receivables growth less revenue growthOur threshold 0 percentage points–––−1,357.55−539.34−156.9613.512,473.57−17.60−18.71
Inventory growth less cost-of-goods growthOur threshold 0 percentage points–––−366.35473.71−0.38−46.99−50.6144.72−62.45
Other current assets growth less revenue growthOur threshold 5 per cent of revenue–––−17.018.38−1.02−0.93−1.57−1.70−0.95
Assets under construction, years of additionsOur threshold 2 years of additions–––0.000.00–0.00–––
Effective tax ratePublished threshold 17.16 per cent4.32−0.357.25–331.90–152.66–−6.47–
Tax charged less tax paid, % of profitOur threshold 10 percentage points––––322.84–149.83–−7.88–
A threshold marked as ours has no published figure; it is the line we read the check against.