Financial Performance Overview

Nava Limited reported exceptional standalone financial results for FY 2025-26 with revenue growth of 19.4% to ₹1,924.7 crore and PAT surge of 116% to ₹910.9 crore. The performance was bolstered by an exceptional gain of ₹40,395 lakhs from the buyback of shares by subsidiary Nava Global Pte Ltd. Consolidated revenue grew 7.7% to ₹4,290.9 crore while PAT declined 27.6% to ₹1,038.5 crore due to subsidiary performance.

Dividend Declaration & Capital Management

The company declared an interim dividend of ₹3.00 per share and recommended a final dividend of ₹5.50 per share, resulting in a record total dividend of ₹8.50 per share for FY26. Liquid investments increased substantially to ₹77,145 lakhs at standalone level (₹27,615 lakhs in FY25), with mutual fund investments rising to ₹70,613 lakhs from ₹13,121 lakhs. The debt-to-equity ratio remained low at 0.009x.

Business Segment Performance

Metals Business: Silico Manganese production grew 22.4% to 127,486 MT with sales up 42.0% to 134,410 MT. The business maintained strong contract coverage with 40% sold to Japanese mills under long-term contracts and 30% covered by quarterly fixed-base contracts with Indian steel producers.

Energy Business: Indian operations sold 1,607 million kWh with average PLF of 71.5%. Zambia operations (Maamba Energy) achieved 89.6% PLF with 300MW plant availability at 90%. The subsidiary paid dividend of $175 million, with Nava Global receiving $114 million.

Mining Business: External coal sales grew 6.4% to 471,976 MT though profitability declined 18.3% due to increased mining costs and forex losses.

Major Projects & Expansion

Maamba Energy Expansion: 300MW Phase II thermal plant ($400M capex) targeted for Q4 FY27 commissioning with $290M debt funding tied up. 100MW solar plant ($90M capex) scheduled for Q2 FY27 commissioning with 20-year PPA at $0.078 per kWh.

Agricultural Projects: Avocado plantation achieved first commercial harvest of 150 tonnes exported to South Africa, with FY27 target of 1,000 tonnes. Kawambwa Sugar integrated project (4,500Ha plantation, 2,500 TCD plant) targeted for Q4 FY28 commissioning.

Mineral Exploration: Manganese exploration completed in Côte d'Ivoire (360 sq km concession) and lithium exploration underway in Zambia's Mapatizya area.

Corporate Governance & Leadership

The Board recommended reappointment of P. Trivikrama Prasad and Nikhil Devineni (retiring by rotation) and reappointment of GRK Prasad as Executive Director. Mr. B. Srinivasa Rao was appointed as CFO effective March 2026. The company implemented Nava RSU Plan 2023 with 2,740,000 options granted during the year.

Risk Management & Sensitivity

The Group's exposure to market risk includes interest rate risk (50bps change impacts PBT by ₹277 lakhs), foreign currency risk (5% USD change impacts PBT by ₹68 lakhs), and other price risks. Borrowings increased to ₹2,22,092 lakhs (FY25: ₹88,839 lakhs) while maintaining strong liquidity of ₹3,44,640 lakhs in cash and liquid investments.

AGM & Shareholder Matters

The 54th Annual General Meeting is convened on August 14, 2026, with nine resolutions covering financial approvals, director appointments, and memorandum alterations. The register of members will be closed from August 8-14, 2026, for AGM and dividend purposes.

Outlook

The company plans Silico Manganese production of approximately 130,000 MT for FY27 while progressing major expansion projects in Zambia and agricultural ventures. The outlook remains positive with strong liquidity position and strategic investments across energy, metals, and agriculture sectors.