NAVA Limited Reports Q4 FY26 and FY26 Results; Standalone Income Reaches Highest Levels
NAVA Limited released its financial results for the fourth quarter and the financial year ended March 31, 2026, revealing strong standalone performance across its core business segments.The company reported consolidated revenue totaling ₹ 4,478.7 Cr, marking an 8.3% Year-over-Year (YoY) increase. Meanwhile, standalone total income climbed to ₹ 2,241.7 Cr, reflecting a 24.5% YoY growth.
Financial Highlights for Q4 & FY26
The overall financial picture highlighted significant growth in certain areas, though the consolidated Profit After Tax (PAT) declined by 27.6% YoY to ₹ 1,038.6 Cr, primarily due to tax applicability under Maamba Energy Ltd (MEL) and a notional Deferred Tax Liability (DTL) provision of ₹ 261 Cr resulting from Zambian Kwacha appreciation.On a positive note, standalone income for the year recorded a substantial increase, reaching ₹ 910.9 Cr, and the standalone EBITDA was robust at ₹ 702.8 Cr, marking a 24.8% increase. Standalone profitability was aided by strong operational performance, coupled with dividend and share buyback cashflows.
For the fourth quarter alone, consolidated PAT stood at ₹ 136.3 Cr, while standalone PAT reached ₹ 478.1 Cr, representing a 392.3% YoY increase.
| Financial Metrics | Q4 FY26 | Q3 FY26 | QoQ Var% | Q4 FY25 | YoY Var% | FY26 | FY25 | YoY Var% |
|---|---|---|---|---|---|---|---|---|
| Consolidated Total Income | 1,194.8 | 1,061.5 | 12.6% | 1,055.8 | 13.2% | 4,478.7 | 4,135.2 | 8.3% |
| Consolidated EBITDA | 423.2 | 513.0 | -17.5% | 419.2 | 1.0% | 1,905.2 | 1,986.8 | -4.1% |
| Consolidated PAT | 136.3 | 325.7 | -58.2% | 302.8 | -55.0% | 1,038.6 | 1,434.0 | -27.6% |
| Standalone Total Income | 614.3 | 499.7 | 22.9% | 528.3 | 16.3% | 2,241.7 | 1,800.2 | 24.5% |
| Standalone EBITDA | 169.9 | 160.8 | 5.7% | 127.2 | 33.5% | 702.8 | 563.2 | 24.8% |
| Standalone PAT | 478.1 | 135.3 | 253.3% | 97.1 | 392.3% | 910.9 | 421.7 | 116.0% |
Business Segment Performance
The Ferro Alloys segment showed strong operational increases. Silico Manganese production remained flat during the quarter, while the total production increased by 22% for the financial year.| Metric (tons) | Q4 FY26 | Q3 FY26 | Q4 FY25 | FY26 | FY25 | YoY Var% |
|---|---|---|---|---|---|---|
| Si Mn Production | 33,547 | 33,537 | 25,617 | 127,486 | 104,165 | 22.4% |
| Si Mn Sales | 40,863 | 31,648 | 37,645 | 134,410 | 94,686 | 42.0% |
| Ferro Silicon Production | 300 | - | 5,145 | 5,966 | 13,490 | -55.8% |
| Ferro Silicon Sales | 2,313 | 1,735 | 4,682 | 8,039 | 12,162 | -33.9% |
Si Mn sales quantity recorded a 29.1% Quarter-on-Quarter (QoQ) increase and a 42.0% YoY increase, bolstered by higher export sales. The shift in production from Ferro Silicon contributed to the overall segment growth.
The Indian Energy business segment reported that the volume growth was evident, although revenue declined due to tariff softness.
Key operational metrics for the Indian Energy segment are summarized below:
| Power Unit | Q4 FY26 (in MnkWh) | Q3 FY26 (in MnkWh) | Q4 FY25 (in MnkWh) | FY26 (in MnkWh) | YoY Var% |
|---|---|---|---|---|---|
| Sold (Total) | 625 | 432 | 535 | 2,274 | 16.7% |
| Merchant - Nava | 260 | 163 | 163 | 893 | 59.3% |
| Merchant - NBEIL | 203 | 106 | 200 | 714 | 1.6% |
| Captive | 162 | 163 | 172 | 667 | -6.0% |
The company noted that all power plants operated at healthy Plant Load Factors (PLFs) during the quarter. Specific units, including the Telangana Ops (74.6% PLF in FY26) and Odisha Ops (77.2% PLF in FY26), showed strong performance compared to previous fiscal years.
In the Zambian energy operation, the total revenue for the financial year reached 256 (units unspecified), up from 245.2 in the previous year.
| Metric | Q4 FY26 | Q3 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|---|
| Total Revenue | 60.8 | 72.4 | 54.8 | 256 | 245.2 |
| EBITDA | 28.6 | 46.5 | 31.4 | 151.4 | 155.4 |
| PAT | 2.1 | 32.6 | 23.1 | 81.4 | 115.5 |
| Receivables | 77.4 | 85.5 | 202 | 77.4 | 202 |
While revenue increased due to higher energy sales quantity and tariff escalation, the PAT was lower due to tax applicability and DTL provision associated with Kwacha appreciation.
Other Business Developments
Beyond the core segments, the company reported several key operational updates:- Maamba Energy: The cumulative dividend declared for the year was US$ 175 Mn, with Nava Global's share amounting to US$ 113.75 Mn. Nava Global paid a dividend of US$ 24 Mn during the year, and arrears decreased to US$ 28.0 Mn, with a realization of US$ 7.5 Mn during the quarter.
- Dividend Receivables: During the year, the company received a total of ₹ 705 Cr in dividends and share buyback amounts, including ₹ 29.5 cr paid by Nava Bharat Projects during the quarter.
- Infrastructure Projects: Maamba Solar's 100 MW construction is progressing well, with commissioning planned for July 26. Meanwhile, MEL's Phase II, 300 MW, is seeing steady mechanical and electrical erections. The integrated Sugar project continues its progress with sugarcane plantation activity, and ordering for all major packages is complete, commencing construction activities.
NAVA Stock Price Movement
As of 3:30 PM, shares of NAVA LIMITED are dropping sharply by 10.03%, currently trading at ₹633. The stock experienced this downturn amid a robust trading volume of 2.41 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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