PRNewswire
Hyderabad (Telangana) [India], November 12: Nava Limited, the flagship company of the diversified multinational group spanning metals, energy, mining and commercial agriculture, announced its financial results for the second quarter ended September 30, 2026.
The quarter Results are marked by highest-ever revenue of ₹1,252 crore, a growth of 30% year-on-year.
Consolidated Profit After Tax (PAT) more than doubled at ₹403 crore, a growth of 127% year-on-year, with energy in the forefront supplemented by contributions from other businesses and positive deferred tax adjustment.
The group's foray into renewable energy gained traction with the graduated commissioning of 100 MW solar power project in Zambia ushering in a new phase of growth.
The Avocado plantation project, the integrated Sugar project, mineral exploration for Manganese, Lithium etc., continue to make good strides during the quarter.
The quarterly performance denotes sustainability with continued up-streaming of dividends and substantially improved financial position by recovery of arrears from the Utility in Zambia.
Business and Strategic Developments
Energy:
The energy segment delivered strong performance, supported by healthy PLFs in domestic operations. The commissioning of the 100 MW solar project in Zambia also marks a significant milestone, opening a promising new avenue for future growth and expansion in renewable energy.
MEL's Phase II 300 MW power expansion continues to progress, with full commissioning targeted for July 2027.
Mining:
In Côte d'Ivoire, exploration activities at Nava's 360 sq. km manganese concession continue to advance, with promising initial results. Exploration for lithium and other minerals in Zambia, is ongoing.
Agribusiness:
Nava Avocado Limited
Nava's avocado is set for its first commercial harvest and sales from November 2026 to March 2027, utilizing the state-of-the-art packhouse and aided by GlobalG.A.P. and SMETA accreditations for international market access.
Kawambwa Sugar Limited
The integrated Sugar project implementation is on track for commercial operations from FY 2028-29, with progress in sugarcane cultivation, irrigation infrastructure and construction activities. Nava has continued to leverage its rich experience in this business to pursue best cost and project management practices in all facets.
Commenting on the performance, Ashwin Devineni, Managing Director & CEO, Nava Limited, said:
"Nava's record quarterly and year-to-date operating revenue reflects the strength of our diversified businesses and the sustained performance of our core operations. The robust year-on-year growth in profitability, supported by our energy and mining businesses, reinforces the resilience of our operating model.
Beyond financial performance, this quarter marks meaningful progress in our long-term growth strategy. The commissioning of our 100 MW solar project in Zambia represents an important milestone in our renewable energy journey, while the substantial recovery of outstanding receivables from ZESCO further strengthens our financial position. With our 300 MW power expansion progressing and our agribusiness ventures approaching key commercial milestones, we remain focused on disciplined execution, operational excellence and building a diversified portfolio that creates sustainable long-term value."
About Nava Limited
Founded in 1972, Nava Limited is a publicly listed multinational corporation with interests in metals, energy, mining, healthcare and commercial agriculture. The Company operates one of India's leading ferro alloys businesses and Zambia's largest mine-to-mouth power plant. Nava is expanding its global presence through investments in renewable energy and commercial agriculture, with a focus on building a diversified and resilient portfolio.
Media Contact:
Ms. Lisa Rufus G.
Phone: +91 91542 40656
Email: lisa.r@navalimited.com
This document may contain forward-looking statements based on management's beliefs, opinions and expectations as of the date of this release. Actual results may vary due to risks and uncertainties, and the Company does not assume any obligation to update such statements in response to future developments. Please refer to official disclosures for the most accurate and up-to-date information.
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Nava Reports Highest Quarterly Revenue of ₹1,252 Crore, PAT Surges 127% YoY to ₹403 Crore
