Nava Limited Reports 116% Standalone PAT Growth to ₹911 Cr, Declares ₹5.50 Final Dividend
Nava Limited reported a 116% YoY increase in standalone PAT to ₹911 crore for FY26. Revenue from standalone operations rose 19.4% to ₹1925 crore. The company declared a final dividend of ₹5.50 per share, bringing the total for FY26 to ₹8.50. Key projects like MEL's 300 MW expansion and MSEL's solar project are progressing.
The substantial increase in standalone profit, record revenue, and a strong dividend payout are material financial events that will likely impact investor sentiment and the company's valuation.
The company reported significant growth in standalone profit and revenue, along with a healthy dividend payout. While consolidated PAT was impacted by tax adjustments, the overall operational performance and future project progress are strong.
Nava Limited announced its audited financial results for the fourth quarter and financial year ended March 31, 2026. The company reported a significant 116% year-on-year increase in standalone Profit After Tax (PAT), reaching ₹911 crore, compared to ₹422 crore in the previous fiscal year. This surge was driven by strong operational performance, higher ferro alloy sales, improved energy revenues, and increased dividend income from overseas operations.
On a standalone basis, revenue from operations grew by 19.4% year-on-year to ₹1925 crore, marking an all-time high. Total income increased by 25% year-on-year. The Ferro Alloy income saw a 29% rise due to higher sales volumes, and the Energy division's revenue increased by 27% quarter-on-quarter following the availability of a medium-term PPA for 50 MW.
Consolidated performance showed that Profit Before Tax remained stable compared to the previous year. The MEL power division now operates under a 15% tax structure, leading to higher outgoings. Consolidated Profit After Tax (PAT) was ₹1038.6 crore in FY26, down from ₹1434.0 crore in FY25, a change primarily attributed to a deferred tax provision related to the appreciation of the Zambian Kwacha.
Nava Limited declared a final dividend of ₹5.50 per share for FY2025-26. Including the interim dividend of ₹3.00 per share already paid, the total dividend for the financial year stands at ₹8.50 per share. The company also received ₹705 crore through dividend and share buyback during the year, and successfully recovered over 90% of ZESCO Arrears.
Looking ahead, MEL's 300 MW Phase-II expansion project is progressing steadily and is expected to be commissioned by January 2027. MSEL's solar power project construction is on schedule, with commissioning expected to begin by July 2026. In agribusiness, Nava Avocado Limited's packhouse construction is on track for completion by September 2026, and plantation activity is expected by the end of FY27. Kawambwa Sugar Limited has commenced sugarcane plantation, with project commissioning anticipated by March 2028.
Ashwin Devineni, MD & CEO, commented, "This has been a strong year for Nava, with our standalone profit growing by over 100% and our businesses continuing to deliver stable operational performance. While consolidated PAT was impacted by tax-related adjustments at MEL following the completion of its tax holiday period, the overall operational performance of the business remains strong and consistent. We are also encouraged by the steady progress across our future-focused projects in power, renewables, and agribusiness."
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