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The share price of this leading firm engaged in the line of metals manufacturing, power, mining, agribusiness, and healthcare business surged by 6.5 percent to an intraday high of Rs 758.70 per share on Monday after its subsidiary was granted a license to explore Lithium and other minerals in Zambia.

Share price movement:

With a market capitalization of Rs 11,695.13 crores, the shares of Nava Limited surged by 4.29 percent, trading at Rs 743.45 apiece at 2:00 pm on Monday’s afternoon market hours. The shares of this company generated a multi-bagger return of 141 percent over the past year and 61 percent over the past 6 months.

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What happened:

According to Nava Limited’s stock exchange filings, the company announced that their subsidiary firm Maamba Collieries Limited (MCL) has been issued two Large Scale Exploration Licenses with a validity of 4 years to explore Lithium and other minerals such as Amethyst, Aquamarine, Tantalum, and Tin in the Southern Province lands of Zambia. The land aggregates to around 8200 hectares (Ha) in size.

Financials:

Reviewing the financials on a year-on-year basis, the revenues rose by 6.5 percent from Rs 3,582 crores in FY23 to Rs 3,818 crores in FY24. In the same time frame, the net profits also increased from Rs 1,222 crores to Rs 1,256 crores, demonstrating a 2.7 percent surge.

As of FY24, the EBITDA margin decreased by 6 percent, from Rs 1,967.6 crores in FY23 to Rs 1,855.9 crores in FY24. The firm’s debt-to-equity ratio declined from 1.0 times in FY20 to 0.1 times in FY24.

Revenue breakdown:

In FY24, the revenue segment breakdown shows that 37 percent of sales came from Zambia Power, 18 percent from ferroalloys, 26 percent from India Power, and 9 percent each from mining and other sources.

New ventures:

The company recently ventured into the healthcare-enabled services sector, beginning with Singapore and Malaysia, through the acquisition of a 65 percent stake in TIASH Pte Limited a medical company which focuses  on the detection and management of iron deficiency.

NAVA’s other subsidiary named Nava Energy Pte Limited, provides operations and maintenance services for MCL’s energy plant in Zambia. This generates a stable cash flow stream, which is sent back to India.

Shareholding Pattern:

As of March 2024, the firm’s shareholding pattern stood at 48.84 percent for promoters, 42.14 percent for the public, 8.86 percent for foreign institutional investors, and 0.16 percent for domestic institutional investors.

About the Company:

Nava Bharat Ventures Limited was established in 1972 as an Indian ferro alloys manufacturer. Nava Bharat is now a multinational company operating in India, Southeast Asia, and Africa with businesses in metals manufacturing, power, mining, agribusiness, and healthcare.

Written By Zahal

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