Nova Iron & Steel Ltd. — Regulatory Filings 2022

Aug 14, 2022

F-Block, ist Floor, International Trade Tower, Nehru Place, New Delhi-110019 INDIA Tel.: +94-11-30451000 Fax: +91-11-23712737 Email : ral_nlsi2007@yahoo.com, www.novaironsteel.com

THROUGH ONLINE PORTAL

Ref:NISL/LISTING/2022-23 Dated: 14/08/2022

The Secretary Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai-400001

Subject: Unaudited Financial Results for the quarter ending 30/06/2022

Dear Sir,

Board of Directors of the Company in its meeting held on 14/08/2022 approved the Unaudited Financial Results for the quarter ending 30/06/2022.

Pursuant to Regulation 33 and 30 read with Schedule III of SEBI (LODR) Regulations, 2015, please find enclosed herewith copy of Unaudited Financial Results for the quarter ending 30/06/2022 and Limited Review Report.

Kindly take note of the above and also update your website for the information of our shareholders and investors.

Yours faithfully, Dheeraj Kumar (Company Secretary Enct: as above

independent Auditor's Review Report on the Standalone Quarterly Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Nova Iron & Steel Limited Village-Dagori, Tehsil Belha, Bilaspur Chhattisgarh

• 1 We have reviewed the unaudited Ind AS Financial Results of M/s Nova Iron & Steel Ltd. (the "Company") for the quarter ended June 30, 2022 (the "Statement") attached herewith, being submitted by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulation'}, read with relevant circulars issued in this regard from time to time.
• 1. The preparation of the statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015, as amended, read with relevant circulars and other accounting principles generally accepted in india is the responsibility of the management of the Company and has been approved by the Board of Directors. Our responsibility is to express a conclusion onthe Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the independent Auditor of the Entity" issued by the institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement.
• 4, A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

5. Basis for Qualified Conclusion

As stated in Notes, company has not provided for interest expense of Rs.532.93 Lakhs (Estimated) for the quarter ended 30" June 2022 related to borrowings of Rs. 23,580.87 Lakhs. Statements of accounts were not available to confirm the balances/interest chargeable thereon.

Had the interest been so provided, the finance cost would have been higher and net profit would have been lower by Rs.532.93 Lakhs (Estimated) for the quarter ended 30th June 2022.

J-35B, First Floor, Central Market, Lajpat Nagar-2, New Delhi-110024 info@mnrsindia.com, +91-11-46502975

6. Qualified Conclusion

Based on our review conducted as stated above, with the exception of matters described in the preceding paragraph, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results have not been prepared in all material respects in accordance with the applicable Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies, and has not disclosed the information required to be disclosed in terms of 'the Regulation', read with relevant circulars including the manner in which it is to be disclosed, or that it contains any material misstatement except for the matters specified here under.

7. Emphasis of Matter

Attention is invited to Note No. 3 of the financial results, that land under Property Plant and Equipment includes land valued at Rs. 330.69 Lakhs bought by the company in the name of third parties. Transfer of the same in the company's name is yet to be initiated,

Our conclusion is not modified in respect of these matters.

8. Other Matter

The Company has no Chief Financial Officer as required u/s 203 of the Companies Act 2013.

Our Conclusion is not modified in respect of the above matter.

MNRS For and on behalf of & Associates
Chartered Accountants
Kumar Agarwal, FCA Neeraj
Partner M. No: 503441	B
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NOVA IRON & STEEL LTD

Registered Office : Village Dagori, Tehsil - Belha, Distt Bilaspur (Chhattisgarh) Email: rai_nisI2007@yahoo.com, website: www.novaironsteel.com

(CIN: L02710CT1989PLC010052) Phone: 011-30451000, Fax: 011-2371 2737) Statement of Un - Audited Financial Resuits for the Quarter Ended As On 30th June, 2022

	NOVA IRON & STEEL LTD
	Registered Office : Village Dagori, Tehsil - Belha, Distt Bilaspur (Chhattisgarh)
	Email: rai_nisI2007@yahoo.com, website: www.novaironsteel.com (CIN: L02710CT1989PLC010052) Phone: 011-30451000, Fax: 011-2371 2737)
	Statement of Un - Audited Financial Resuits for the Quarter Ended As On 30th June, 2022
Sr.No.	Particulars		Quarter Ended		(Rs. In Lakhs) Year Ended
		30.06.2022 (Un - Audited)	31.03.2022	30.06.2021 (Audited) (Un-Audited)	31.03.2022 (Audited)
4	Revenue from operations	18635.29	17540.52	12633.75	60539.95
2 =	[Other Income ' Total Income (1 + 2)	52.62 18687,S0	662.14 18202.66	79.15 12712.90	842.71 61382.66
3. 4	Expenses
	Cost of Materials Consumed (a)	15200.63	13053.65	9415.82	50649.85
	Changes in inventories of finished goods & work-in- (b) progress	411.80	-206.43	-166.75	347.74
	Employee benefits expense (c)	174.54	204.73	125,27	715.19
	Finance Costs (d)	160.57	2447.94	12.81	2486.66
	Depreciation (d)	246.21	245.05	247.50	993.01
	Direct & Other Expenses (e)	2185.27	2424.66	1198.39	7264.14
	Total Expenses	18379,02	18169.60	10833.06	62456.59
5	Profit / Loss (-) before exceptional item,share of profit of Joint Ventures / Associates and tax (3 - 4)	308.88	33.06	1879.85	-1073.93
	Exceptional Items	0.00	0.00	0.00	0.00
6
7	Profit / Loss (-) before share of profit of Joint Ventures /	308.88	33.06	1879.85	-1073.93
8	Assocaites and tax (6 +6) Add : Share of Profit of Joint Ventures / Associates	0.00	0.00	0.00	0.00
9	Profit/ Loss (-) before tax (7 + 8)	308.88	33.06	1879.85	-1073.93
10	Tax expense
	Current Tax (a)	0.00	0.00	0.00	0.00
	(c) Deffered Tax (credit)/charge	101.06	-20.59	105.92	404.26
	Eariler Years (d)	0.00	0.00	0.00	0.00
11	{Net Profit / Loss (-) for the period after tax (9-10)	207.82	53.65	1773.92	(1478.19)
12	{Other Comprehensive Income
	Items that will not be reclassified to Profit and Loss
	Change in Fair Vatue of Investment i	0.00	0.00	0.00	0.00
	Remeasurement of the net defined benefit liablity / ji asset Income tax effect on above	0.00	5.14	0.00	§.14

	Comprehensive Income Other period Total for the :	0.00	5.16	0,00	6.14
13	{i+ii+iii) Other Comprehensive Income for period (11 + 12)	207.82	58.79	1773.92	(1473.05)
14	Paid -up eauity share capital	3613.95	3613.95	3613.95
16	Face Value of share (In Rs.)	10.60	10.00		3613.95
16				10.00	10.00
	Earning per Share Basic 1	0.68	0.15	4.91	(4.09)
	Diluted 2	0.58	0.15	4.91	(4.09)
1	Notes : The above Un-Audited Financial Results for the quarter ended as on 30th June, 2022 have been reviewed by the Audit
2	Committee and taken on record at the Board Meeting held on 14.08.2022 ' The figures of the previous quarter / year have been regrouped / reclassified , where ever considered necessary to confirm
3	the current year's classification. Gratuity, Leave encashment, Income taxes, Deferred taxes and cther usual necessary provisions have been made on an estimated basis.
4	Land under Property Plant & Equipment includes land valued at Rs.194.34 Lakhs bought by the company in the name of third parties. Transfer of the same in the company's name is yet to be intiated.
5	The company has not provided for interest expense of Rs 532.93 Lakhs (Estimated) for the quarter ended 30th June 2022 related to short term borrowings of Rs 20427.88 Lakhs as on 30.06.2022.
			=	For and on behalf of Board of Directors ==For Nova lron & Steel Ltd.