Nava rallies after Q2 PAT more than doubles to Rs 315 cr
Profit before tax (PBT) climbed 85.57% YoY to Rs 453.15 crore in Q2 FY27.
EBITDA jumped 64% to Rs 561 crore in Q2 FY27 compared with Rs 341 crore in Q2 FY26.
The company's energy business registered strong performance, aided by healthy plant load factors (PLFs) across its domestic operations. The commissioning of its 100 MW solar power project in Zambia marked a significant milestone in its renewable energy expansion, creating an additional avenue for long-term growth.
Nava's renewable energy initiatives gained further momentum with the phased commissioning of the solar project in Zambia, marking a new phase in the group's diversification strategy.
Meanwhile, exploration activities at the company's 360 sq. km manganese concession in C?te d'Ivoire continued to progress, with encouraging initial findings. Exploration for lithium and other minerals in Zambia is also underway
In its agribusiness segment, Nava is preparing for the first commercial harvest and sale of avocados between November 2026 and March 2027. The company plans to leverage its modern packhouse infrastructure and GlobalG.A.P. and SMETA accreditations to strengthen access to international markets.
The integrated sugar project remains on schedule to commence commercial operations in FY 2028-29. Progress is being made across sugarcane cultivation, irrigation infrastructure and construction activities, with the company focusing on cost optimisation and efficient project management.
Ashwin Devineni, managing director & CEO, Nava, 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.
Nava is a multinational company with diversified business interests spanning metals, energy, mining, healthcare and commercial agriculture. It operates one of India's leading ferroalloy businesses and the largest mine-to-mouth power plant in Zambia. The company is strengthening its global footprint through strategic investments in renewable energy and commercial agriculture, while focusing on developing a diversified and resilient business portfolio.
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