NAVA Limited reported a strong Q2 FY’26, marked by consistent operational performance and strategic progress. The company declared a 300% interim dividend, the highest in its history. Revenue grew steadily, driven by robust performance in the Metals segment and sustained momentum in the Energy business. The successful transition of the Odisha captive power plant into an independent power plant strengthens the company’s growth. New projects are advancing well, and long-term fundamentals remain robust.
Financial Performance Overview
NAVA Limited announced a strong second quarter for FY’26, noting consistent operational performance across its business segments. In a move demonstrating commitment to shareholder value, NAVA declared a record interim dividend of 300%.
Key Highlights
Key highlights from the earnings call include:
- Revenues experienced steady growth, fueled by robust performance within the Metals segment and consistent momentum in the Energy sector.
- The successful transition of the Odisha captive power plant into an independent power plant (IPP) is expected to bolster the company’s growth trajectory in the energy sector. This 60-megawatt thermal power plant IPP has secured a long-term Power Purchase Agreement (PPA) for a period of 5 years, commencing from Feb, 2026. The delivered rate is INR 5.95. The PPA covers 50 megawatt out of the total capacity.
- New projects, including the 100-megawatt solar power project and the 300-megawatt expansion at Maamba, are progressing as planned.
Strategic Initiatives
The company continues to actively explore opportunities for strategic expansion in both greenfield and M&A activities within its core verticals. The management emphasized a commitment to maintaining a strong balance sheet with limited debt, allowing for swift action on attractive opportunities. Capital expenditure on the Maamba Phase 2 expansion is currently at $226 million out of a total outlay of $400 million.
Dividend Policy and Cash Flow Utilization
NAVA Global’s dividend policy targets a distribution of 30% of PAT as dividends. NAVA Global has declared $10 million to Nava. Excess cash will primarily be deployed towards expansions and growth capital.
Mining Exploration Update
Exploration works are underway in both Zambia and Cote d’Ivoire. Definite news is expected by the end of next year. The company is also exploring better options for its Nacharam land, given the increasing real estate values in the region.
Source: BSE
