### **Overview** Nava Ltd. (formerly Nava Bharat Ventures Limited), incorporated in 1972 and listed on the BSE and NSE, is a diversified multinational conglomerate with integrated operations across **metals, energy, mining, agribusiness, and healthcare**. Headquartered in India, the company operates across Asia and Africa through 3 Indian and 14 foreign subsidiaries. With a long-standing presence in commodity-based industries, Nava has strategically diversified into high-growth, high-margin sectors to build resilience and sustainable global leadership. --- ### **Core Business Segments** #### **1. Metals & Ferroalloys** - Nava is one of India’s leading **ferroalloy producers**, with an annual production capacity of **175,000 metric tons (MT)**. - Operations located in **Paloncha, Telangana (125,000 MTPA)** and **Kharagpur, Odisha (50,000 MTPA)**, both producing silico-manganese. - Key customers include domestic steel mills and international markets in **Japan, USA, Middle East, Southeast Asia, and Europe**. - The business benefits from **captive power (204 MW)** and stable offtake agreements (e.g., with Tata Steel), ensuring high plant utilization (>80%). - **Export-driven** (~40% of production), with ferrosilicon emerging as a key growth product due to strong demand in the U.S. - Achieved profitability in FY25 after cost rationalization, improved export mix, and higher Q4 volumes. #### **2. Energy & Power** - **Total installed capacity: 734 MW**, with operations in **India (434 MW)** and **Zambia (300 MW)**. - In India: - Operates **five thermal plants** in Telangana, Odisha, and Andhra Pradesh using **Fluidized Bed Combustion (FBC)** technology. - **204 MW** is captive (supporting ferroalloys), while surplus power is sold on the merchant market. - The 150 MW **NBEIL plant in Paloncha** contributes significant EBITDA (~$20 million/month) under short-to-medium term bilateral contracts and e-auctions. - In Zambia: - **Maamba Energy Limited (MEL)** operates a **300 MW mine-to-mouth thermal plant**—the country’s only such facility. - Operates at an impressive **89.9–90% Plant Load Factor (PLF)**. - Power sold under a **20-year PPA with ZESCO**, featuring a **sovereign-backed 'Take or Pay' clause** and **USD-denominated tariffs** ($0.105–$0.106/unit), indexed to inflation. - Generated **$214.9 million in revenue and $149.5 million in EBITDA (64.2% margin)** in FY2024. - **Phase-2 expansion underway** to double capacity to **600 MW**, along with a **100 MW solar project** via **Maamba Solar Energy Limited**, supporting long-term energy diversification. #### **3. Mining** - **Maamba Collieries Limited (MCL)** operates **Zambia’s largest coal mine**, holding **193 million metric tons of SAMREC-compliant reserves** across a 7,700-hectare concession. - Supplies **high-grade coal to industrial clients** like **Lafarge and Dangote**, generating stable external sales (~40,000 MT/month, to scale to 60,000 MT). - All sales are **USD-denominated**, minimizing forex risk. - Exploring **lithium, amethyst, and tantalum** in Zambia (~7,566 ha license), with three-year drilling plans. - **Nava Resources CI**, a 100% subsidiary in **Côte d'Ivoire**, holds a **64.7 sq.km manganese ore exploration permit**—a strategic step toward **backward integration** for silico-manganese production in India. - Magnetite exploration in Zambia continues, though plans have been reassessed for commercial viability. #### **4. Agribusiness** - A key strategic diversification into **high-margin, long-term export crops**, particularly **avocados and sugar** in **Zambia**. - **Nava Avocado Limited (NAL)**, a 100% subsidiary, is developing **one of the world's largest avocado plantations**: - **2,092-hectare total area**, with **1,100 hectares under development**. - Over **175,000 trees planted** (as of Jul 2025); full maturity expected by 2027. - **First commercial harvest expected in November–December 2025**, with peak yield of **20–25 MT/ha**, targeting **25,000 MT/year**. - Planned investment: **$45 million**; export-oriented and aligned with **Global Good Agricultural Practice (GAP)** standards. - **Sugarcane & Integrated Sugar Complex**: - **Kawambwa Sugar Limited (KSL)** allocated **10,000 hectares** in Luena, Zambia. - Phased development: - **Phase I**: 2,500 TCD sugar plant, 20 MW co-generation plant, 20 KLPD distillery, irrigation, and estate development. - **Capital outlay**: ~**$200 million**. - Reuse of an idle **20 MW plant from Dharmavaram, India**, enhances scalability and reduces costs. - Nursery established, land development underway on **4,500 hectares**; debt financing in discussion. - Together, agribusiness projects are **creating over 1,000 jobs** and targeting **non-cyclical, export-led revenue streams**. #### **5. Healthcare** - Expansion into **Southeast Asia (Singapore & Malaysia)** via subsidiaries: - **Nava Healthcare Pte Ltd** (fully owned post-acquisition of Tiash Pte Ltd). - **Compai Pharma**: Distributor of **women’s healthcare products**, added **7 exclusive products in FY25**, including **FMT (fecal microbiota transplant)**. - **The Iron Suites Medical Center, Singapore**: Integument clinic specializing in **IV iron therapy and lifestyle disease management**. - **Asset-light, low-capital business model** focused on **distribution, diagnosis, and treatment administration**. - Secured **exclusive rights for niche products** in APAC, with inclusion in Malaysia’s **'Bluebook'** and Singapore’s **Standard Drug List (SDL)** boosting visibility and sales. - Aims to **achieve break-even by 2025–26** and expand into additional ASEAN markets. - Healthcare revenue grew significantly in prior years (**+80–83% YoY**), supported by marketing and rising demand. --- ### **Strategic Initiatives & Expansion (As of Jul 2025)** - **Capital Investment**: Plans to invest **up to $750 million in FY26** across energy, agribusiness, and minerals. - Funded via **internal accruals and external debt**. - **Geographic Expansion**: - Advancing entry into **Indonesia and Vietnam** via healthcare subsidiaries. - Exploring **manganese smelting and power projects in Côte d'Ivoire**, leveraging local resources. - **Integrated Value Chains**: - Aligning **infrastructure, resource supply, and market access** to de-risk growth. - Backed by **vertical integration** in **manganese, coal, and power** to control costs and enhance margins. - **Sustainability & Innovation**: - **Waste-to-value**: Repurposing low-grade coal waste using **FBC technology**, reducing disposal costs and generating new revenue streams. - Emphasizing **resource efficiency and ESG compliance** to attract sustainability-focused investors. - **Global Leadership Vision**: - Building **multi-sectoral global presence** with **durable competitive advantages** through **capital discipline, innovation, and integration**. --- ### **Financial & Operational Highlights** - **Power Generation**: 734 MW (300 MW in Zambia, 434 MW in India), 20 MW in Andhra Pradesh currently idle. - **Coal Reserves (Zambia)**: 193 million metric tons. - **Agribusiness Scale**: 2,092 ha (avocado), 10,000 ha (commercial agriculture in Zambia). - **Export Focus**: Metals (40–50%), agribusiness (100% targeted), coal (Zambia & DRC). - **Revenue Visibility**: ~60% of Indian power committed via bilateral agreements; strong PPAs in Zambia. - **Debt Strategy**: Actively engaging banks for structured financing, particularly for sugar and avocado projects.