NAVA LIMITED

Operates across power generation, ferro alloys, and mining, with the Energy segment generating 69.0% of FY26 segment revenue (₹3,747.71 crore) and EBIT of ₹1,409.37 crore. Power assets include a 100 MW solar project scheduled to commission in July 2026 (expected $20-22 million top-line and $6-7 million bottom-line) and a 300 MW Phase 2 expansion at Maamba Energy in Zambia targeted for January 2027. The Ferro Alloys segment contributes 22.1% of segment revenue (₹1,200.49 crore) and EBIT of ₹31.14 crore, with planned silico manganese production of ~130,000 tons for FY27, of which 40% is exported to Japanese mills under long-term contracts. The Mining segment accounts for 8.8% of revenue (₹479.58 crore) with EBIT of ₹109.6 crore. Newer ventures include avocado farming, with a first commercial harvest of 150 MT in FY26 and a peak revenue target of $22 million post-2032. Costs are led by materials at 31.6% of revenue, with depreciation at 9.1% and other operating expenses at 17.9%. Operations span 8 Indian states and 11 countries, with exports at 49.65% of revenue.