Nava (513023) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated revenue of INR 4,135.2 crore for FY25, up 4.6% year-over-year, and highest-ever PAT of INR 1,434 crore.

• All major segments—metals, mining, and energy—showed robust growth compared to last year.

• Board recommended a final dividend of ₹6.00 per equity share for FY25, in addition to an interim dividend, and completed a share split and buyback.

• Power business turnaround and strong Energy segment performance significantly contributed to profit improvement.

• Audited consolidated and standalone financial results for FY25 were approved with unmodified audit opinions.

Financial highlights

• Consolidated revenue for FY25 reached INR 4,135.2 crore, a 4.6% increase year-over-year; PAT was INR 1,434 crore, the highest in company history.

• Standalone FY25 revenue was INR 1,612 crore, with PAT of INR 421.7 crore.

• Other income in standalone business rose from INR 79 crore to INR 188 crore, mainly due to dividends from subsidiaries.

• Net debt as of March 2025 was primarily $94 million for Phase Two Maamba, with no other significant debt at the group level.

• Basic EPS (consolidated) for FY25 was ₹37.63, up from ₹32.52 in FY24.

Outlook and guidance

• Solar plant in Zambia targeted for commissioning by July 2026; 300 MW power expansion on schedule for August 2026.

• Avocado project to yield first commercial crop by end of 2025; sugar plant expected to commission by March 2028.

• Management expects continued operational strength and incremental revenue from new projects over the next 2–3 years.

• Management remains confident in the recoverability of significant trade receivables, supported by sovereign guarantees and favorable arbitration outcomes.

• Ferroalloys division expected to perform better in FY26 due to product diversification and favorable export markets.