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Revenue
₹1,143 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Nava reported a strong standalone PAT of ₹911 crore (up 116% YoY), driven by upstream dividends and buyback proceeds. Consolidated profitability was impacted by a non-cash deferred tax liability at Mamba Energy due to Zambian kwacha appreciation. Core operations remain healthy: ferro alloys benefited from long-term contracts insulating 85-90% of sales from spot volatility, while power costs improved from lower Singareni coal prices. The 100MW solar project is commissioning in July 2026, and the 300MW thermal expansion at Mamba is on track for January 2027. Avocado commercial harvest began with 150 tons, targeting 1,000 tons next year. Management guided 35-40% EBITDA margins for FY27 but flagged risks from EU safeguard duties on alloy exports and contested lithium exploration licenses.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects consolidated EBITDA margins to be in the 35-40% range for FY27, though dynamic due to upcoming projects and tax holiday expirations.
- The 100MW solar project at Mamba Energy is scheduled to commence commissioning in July 2026.
- The 300MW expansion at Mamba Energy is expected to be commissioned in early January 2027.
- Commercial avocado harvest is expected to reach 1,000 tons in FY27, doubling annually until 2034.
Risks flagged
- European Union imposed safeguard duties on Indian manganese alloy imports, pressuring domestic prices as export volumes are diverted locally.
- Lithium exploration in Zambia is stalled due to a competing claim by another company; progress depends on ministry resolution.
- Zambian kwacha appreciation created a non-cash deferred tax liability; future exchange rate swings could impact reported earnings.
- Exchange-based power tariffs dropped 13% YoY due to renewable capacity additions; management relies on bilateral contracts to mitigate.
Key quotes
- We reported 116% increase in profit after tax to 911 crore rupees, marking one of the strongest performances in the company's history.
- Our level of volatility or exposure to the spot market is only to the extent of 10 to 15% per se.
- The deferred tax position will be reassessed during every reporting period based on the outstanding loan balances and the prevailing exchange rate.
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