PRNewswire
Hyderabad (Telangana) [India], February 7: Nava Limited, a leading conglomerate with business interests in metals, energy, mining, commercial agriculture, and healthcare, has announced its financial results for the quarter and nine months ended 31st December 2024.
Key Business Highlights
* Nava Limited has reported higher consolidated performance for 9 month ending December 2024
* Quarter-on-quarter, consolidated profit increased by 6%, reflecting a strong resilience despite revenue drop.
* Ongoing overseas projects are on track.
Renewable Energy Initiatives
* Nava Limited's subsidiary, Maamba Energy Limited, has incorporated 'Maamba Solar Energy Limited' in Zambia on 28th Jan 2025 as a 100% subsidiary, to assess the feasibility of developing a solar power project in Zambia.
* Project cost, technology selection, and power off-take agreements with ZESCO are currently underway.
FINANCIAL PERFORMANCE

* Standalone PAT increased by 5% Y-o-Y to Rs47.4 crore, despite a 9% decline in operational revenue.
DIVISIONAL INSIGHTS
Maamba Energy Limited (MEL):
* Plant Availability: Maintained high operational efficiency with a 95.1% plant availability.
* Revenue & Profitability: Total income for the quarter was Rs546.8 crore, while PAT stood at Rs291.3 crore.
* Financial Strength: MEL paid $139.7 million towards overdue interest and repayment of shareholder loans.
* Phase II Expansion: Construction is progressing steadily, with orders placed for major plant and machinery.
Metals Division:
* Plans to mitigate severe sectoral pressure by diversifying products and exports.
Domestic Energy Plants:
* Captive and merchant power operations remain stable with moderate coal costs, despite merchant challenges.
* Planned maintenance outages impacted the plant availability during Q3.
Commercial Agriculture Projects:
* Avocado Plantation work is progressing smoothly with construction on a state of the art pack-house set to begin before H2 FY 26.
* For the integrated Sugar Project, preparatory works for land development, irrigation and captive plantation are under way with the Government set to fulfil the infrastructure development.
Commenting on the results, Ashwin Devineni, CEO of Nava Limited said, "Despite challenging market conditions, we have maintained profitability and enhanced operational efficiencies. Our continued focus on business expansion, cost optimization, and strategic investments will drive long-term value creation for our stakeholders. Our commitment to sustainable growth is reflected in our planned diversification strategies, that are expected to take shape in due course of time."
Quantitative Table of Operational Data (Sales Qty):

About Nava Limited
Founded in 1972, Nava Limited is a publicly listed multinational corporation with interests in metals, energy, mining, healthcare, and commercial agriculture. As one of India's leading ferroalloy producers, Nava also operates Zambia's largest mine-to-mouth power plant. Expanding its global presence, Nava is investing in commercial agriculture in Zambia and healthcare in Southeast Asia. For more information, please visit www.navalimited.com.
For more information, contact:
Mr. VSN Raju
Company Secretary and Vice President
Nava Limited
Tel: +91 40 23403501 / +91 40 67283333
Email: investorservices@navalimited.com
Media Contact:
Ms. Lisa Rufus G.
Phone: +91 91542 40656
Email: lisa.r@navalimited.com
Nava Limited will host a conference call to discuss the quarterly financial results in detail on 07 February 2025 at 1600hrs (IST). Investors and stakeholders are invited to visit the company's website for further details.
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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