Nava Revenue Jumps 29.9% to Quarterly Record in Second Quarter
Key Facts
Nava reported record revenue from operations of 1,252.3 crore rupees in the second quarter of fiscal 2027, up 29.9% year over year, according to its investor presentation. Revenue was 963.7 crore rupees in the year-earlier period. The company said the figure was its highest quarterly revenue. The increase came with revenue growth in the energy and mining segments, according to the presentation. The figures put the period’s performance in the context of revenue expansion compared with the second quarter of fiscal 2026.
EBITDA rose to 560.9 crore rupees, up 64.4% year over year, from 341.3 crore rupees a year earlier. The EBITDA margin was 42.0%, compared with 34.5% in the second quarter of fiscal 2026. Nava attributed the increase in operating profit to improved realized prices in India’s energy segment and lower coal prices. In contrast, the company said other expenses increased because of foreign-exchange losses on current assets after the Zambian kwacha weakened. It also cited higher freight costs and costs related to the shutdown of MEL facilities.
Profit before tax rose to 453.2 crore rupees, up 85.6% year over year from 244.2 crore rupees. Tax expenses fell to 49.4 crore rupees from 66.3 crore rupees in the year-earlier period, a decline of 25.5%. The company said lower tax expenses were linked to a reversal of a deferred-tax provision, alongside the weakening of the Zambian kwacha. These items show the differing drivers of profit before tax and tax expense during the quarter. The company said results benefited from growth in the energy and mining segments as well as a positive tax effect.
Energy revenue rose 34.4% year over year, and Nava said its power plants operated at healthy levels and the availability of MEL facilities increased. Mining revenue also grew 33.10% as sales volumes rose. For the first half of fiscal 2027, revenue from operations was 2,464.1 crore rupees, up 14.2% year over year. Net profit for the first half was 736.3 crore rupees, up 27.6% from the year-earlier period. This reflects the reported growth in revenue and profit across the first six months, alongside the announced quarterly results.
On its projects, Nava said its 100-megawatt Maamba Solar project was declared operational on 24 September 2026, with electricity supply to the grid beginning. The company is targeting full commissioning of the 300-megawatt Maamba Energy Phase II expansion in July 2027. It also expects its first avocado harvest and commercial sales between November 2026 and March 2027. The company said its integrated sugar project remains on track to begin commercial operations in fiscal 2028-29. These dates place the power projects, agricultural expansion and sugar project among the company’s next steps.