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.

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

• Completed a stock split in Q3 and a share buyback of INR 360 crore in Q4 to enhance shareholder value.

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

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 subsidiary dividends totaling INR 110 crore.

• Net debt as of March 2025 is 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 coal expansion scheduled for August 2026.

• Avocado project to yield first commercial crop by end of 2025; sugar plant to start contributing from March 2028.

• Maintenance CapEx expected at $25 million per year; peak debt for expansion projects estimated at $250–300 million.

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

• Continued focus on cost optimization, efficiency improvements, and strategic investments.