Nova Iron & Steel Q2 FY27: PAT ₹-1,596.91 Cr & Rev ₹46,792.13 Cr

Investor Takeaways

Reported net loss of ₹-1596.91 Cr versus prior-year profit of ₹2.21 Cr in Q1FY26, indicating significant earnings deterioration.

Total expenditure of ₹49.007 Cr contributed to loss despite revenue of ₹46792.13 Cr, reflecting high cost structure.

⚠️ Negative net worth and pending insolvency proceedings raise material financial stability concerns.

Overall Tone: Cautious based on the numbers only.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹46792.13 Cr	N/A
Net Profit	₹-1596.91 Cr	N/A
EBITDA	Not available	N/A
EPS	₹-1.48	N/A
OPM	-0.32%	N/A

What Changed

The company reported a consolidated net loss of ₹-1596.91 Cr for the quarter and year ended March 31, 2026, compared to a profit of ₹2.21 Cr in the same period last year. This shift to loss was driven by a substantial increase in total expenditure to ₹49.007 Cr and overall financial pressures. Despite revenue of ₹46792.13 Cr, the company recorded a negative operating profit margin of -0.32% in Q4FY26. The financial position deteriorated further, with negative net worth and ongoing insolvency proceedings creating material uncertainty. However, the company continues to be classified as a going concern. Quarterly performance showed declining profitability, with consecutive quarters of losses except for Q1FY26, which posted a modest profit of [amount context mismatch] Cr before the current loss emerged.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Nova Iron & Steel Ltd (NOVAIRNSTL)	Not available	-54.2%	0.87%	46.37
JSW Steel Ltd (JSWSTEEL)	12.9	27.98%	20.93%	3,20,440.06
Coal India Ltd (COALINDIA)	8.52	31.47%	40.01%	2,65,921.73
Hindustan Zinc Ltd (HINDZINC)	15	75.42%	76.45%	2,56,054.33

Nova Iron & Steel Ltd's negative ROE and ROCE, coupled with a high Debt/Equity ratio of 8.12, significantly underperform peer metrics, highlighting weaker financial efficiency and leverage.

Risks & Concerns

Negative net worth and material uncertainties including pending insolvency proceedings.

Regulatory non-compliance and asset disposal challenges.

High Debt/Equity ratio of 8.12 compared to industry peers.

Consecutive quarterly losses with declining operational performance.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q4FY26	135.83	-5.35	-0.32
Q3FY26	109.82	-11.77	-6.82
Q2FY26	108.04	-1.06	-6.28
Q1FY26	112.97	2.21	3.15

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About Nova Iron & Steel Ltd (NOVAIRNSTL)

Metals & Mining · Steel · Listed on BSE

Market Cap: ₹66.71 Cr ROE: -58.8% ROCE: -0.1%

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🔥 Also filed on 9 September 2026

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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