Nava Ltd Share Price – NSE  / BSE

Diversified, Small Cap

The Board of Nava at its meeting held on 08 August 2024 has approved the appointment of Nikhil Devineni (DIN - 08695842), as an Additional Director & Whole-time Director (designated as an “Executive Director”) effective from 02 September 2024 for a period of 5 (Five) years.

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Nava has fixed 01 September 2024 as record date for payment of interim dividend of Rs 4 per equity share.

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Nava announced that the Board of Directors of the Company at its meeting held on 8 August 2024, inter alia, have recommended the interim dividend of Rs 4 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

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On a consolidated basis, Nava's net profit surged 30.1% to Rs 445.9 crore on 16.7% increase in total revenue to Rs 1,258.40 crore in Q1 June 2024 over Q1 June 2023. Profit before tax surged 27.6% year-on-year to Rs 530.80 crore in Q1 June 2024.

The increase in PAT was aided by strong operational performance of Energy division in India & Zambia and supported by increased realisations in FAP & Mining divisions.

EBITDA rose 9.4% to Rs 626 crore in Q1 June 2024 over Q1 June 2023. EBITDA margin stood at 49.7% in Q1 June 2024 as against 53.1% in Q1 June 2023.

Total expenses rose 25% YoY to Rs 632.73 crore in quarter ended 30 June 2024. Cost of materials consumed was at Rs 363.55 crore (up 0.6% YoY) and employee expense was Rs 65.76 crore (up 13%) during the quarter.

The company will pay an interim dividend of Rs 4 per share. The record date is set on 1 September 2025.

Ashwin Devineni, CEO of Nava, commented on the results saying, We are thrilled with ourperformance this quarter, which is a testament to our strategic focus and operational excellence. We remain dedicated to our long-term goals, including further diversification and global expansion, he added.

Nava has business interests in metals, energy, mining, healthcare and commercial agriculture. Nava is one of the leading Ferroalloy producers in India, with about 175,000 MT capacity per annum. Besides India, Nava operates Zambia’s largest mine-to-mouth powerplant. As a multinational company today, Nava is investing into commercial agriculture with one of the largest avocado plantations in Zambia and into emerging businesses such as Healthcare in South-East Asia, creating a strong global footprint.

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