Nava Ltd is a diversified global conglomerate with interests in metals, energy, mining, agribusiness, and emerging sectors like healthcare. As a leading producer of ferro alloys, a significant portion of its production is exported internationally. In energy, the company operates power plants and oversees their development, from planning to commissioning. Nava Ltd’s mining presence is strong in Zambia through its subsidiary Maamba Energy, with further exploration in Cote d’Ivoire. The company is also engaged in avocado and sugarcane plantations in Zambia and is investing in high-growth sectors like healthcare. With consistent revenue and profit growth, Nava Ltd’s stock, listed on both the BSE and NSE, has been performing well in the market.
Nava Ltd has recently reported strong financial performance, achieving its highest consolidated revenue and profit for FY24, with a total income of ₹3,955 crore and a profit after tax of ₹1,256 crore. The company also declared a final dividend of 200% (₹4 per share) for FY24. In addition, Nava Ltd successfully repaid long-term debt of ₹2,621.1 crore (USD 314.4 million) at Maamba Collieries Limited (MCL), allowing future free cash flow distributions to its sponsors starting in FY25. The company has also been active in corporate governance, with key updates from their 52nd Annual General Meeting, changes in directorship, and various investor presentations.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 48.83% | 48.85% | 48.85% | 48.85% | 48.85% |
| FIIs + | 8.90% | 9.24% | 9.18% | 8.86% | 9.32% |
| DIIs + | 0.32% | 0.22% | 0.08% | 0.16% | 0.23% |
| Public + | 41.96% | 41.70% | 41.90% | 42.14% | 41.62% |
| No. of Shareholders | 47,231 | 46,674 | 49,596 | 56,675 | 48,308 |
The shareholding pattern of Nava Ltd has remained relatively consistent, with slight variations over the observed quarters. Promoters maintained a steady stake of around 48.85% from June 2023 to June 2024. Foreign Institutional Investors (FIIs) experienced a modest rise, increasing from 8.90% in June 2023 to 9.32% in June 2024, despite a brief decrease in March 2024. Domestic Institutional Investors (DIIs) held a small but fluctuating portion, ranging between 0.08% and 0.32% during this time. Public shareholding, while significant, decreased slightly from 41.96% in June 2023 to 41.62% in June 2024. The number of shareholders grew from 47,231 in June 2023 to 56,675 by March 2024, later adjusting to 48,308 in June 2024.
Below are the trading platforms that you can use to purchase Nava Ltd shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| September 2024 | 1,215.65 | 1,057.09 |
| October 2024 | 1,203.62 | 1,046.62 |
| November 2024 | 1,251.76 | 1,088.49 |
| December 2024 | 1,264.28 | 1,099.37 |
In September 2024, Nava Ltd’s stock price is projected to reach a maximum of ₹1,215.65 and a minimum of ₹1,057.09. Moving into October 2024, the maximum price is expected to be ₹1,203.62, while the minimum may fall to ₹1,046.62. As we approach November 2024, the stock could climb to a high of ₹1,251.76, with a lower limit of ₹1,088.49. By December 2024, Nava Ltd’s stock is anticipated to peak at ₹1,264.28, with a minimum price of ₹1,099.37.
| When | Maximum Price | Minimum Price |
| January 2025 | 1,276.92 | 982.25 |
| February 2025 | 1,289.82 | 992.17 |
| March 2025 | 1,316.91 | 1,013.01 |
| April 2025 | 1,303.87 | 1,002.98 |
| May 2025 | 1,265.89 | 973.76 |
| June 2025 | 1,322.86 | 1,017.58 |
| July 2025 | 1,296.92 | 997.63 |
| August 2025 | 1,337.03 | 1,028.48 |
| September 2025 | 1,353.07 | 1,040.83 |
| October 2025 | 1,388.25 | 1,067.89 |
| November 2025 | 1,422.96 | 1,094.58 |
| December 2025 | 1,486.99 | 1,143.84 |
As we step into January 2025, Nava Ltd’s stock is expected to reach a maximum of ₹1,276.92 and a minimum of ₹982.25. By March, it may rise to ₹1,316.91, with a low of ₹1,013.01. As we approach June, prices could range between ₹1,322.86 and ₹1,017.58, and by September, the stock may peak at ₹1,353.07, with a minimum of ₹1,040.83. Finally, as we step into December 2025, Nava Ltd’s stock is projected to hit a high of ₹1,486.99 and a low of ₹1,143.84.
| When | Maximum Price | Minimum Price |
| January 2026 | 1,531.60 | 1,178.16 |
| February 2026 | 1,493.31 | 1,148.70 |
| March 2026 | 1,523.18 | 1,171.68 |
| April 2026 | 1,554.26 | 1,195.59 |
| May 2026 | 1,538.88 | 1,183.75 |
| June 2026 | 1,577.35 | 1,213.34 |
| July 2026 | 1,546.42 | 1,189.55 |
| August 2026 | 1,594.25 | 1,226.34 |
| September 2026 | 1,626.13 | 1,250.87 |
| October 2026 | 1,668.41 | 1,283.39 |
| November 2026 | 1,710.12 | 1,315.48 |
| December 2026 | 1,752.87 | 1,348.37 |
| When | Maximum Price | Minimum Price |
| January 2027 | 1,770.40 | 1,361.85 |
| February 2027 | 1,815.80 | 1,396.77 |
| March 2027 | 1,886.61 | 1,451.24 |
| April 2027 | 1,849.62 | 1,422.79 |
| May 2027 | 1,795.75 | 1,381.35 |
| June 2027 | 1,876.56 | 1,443.51 |
| July 2027 | 1,839.76 | 1,415.20 |
| August 2027 | 1,896.66 | 1,458.97 |
| September 2027 | 1,963.05 | 1,510.04 |
| October 2027 | 2,014.09 | 1,549.30 |
| November 2027 | 2,064.44 | 1,588.03 |
| December 2027 | 2,116.05 | 1,627.73 |
| When | Maximum Price | Minimum Price |
| January 2028 | 2,158.37 | 1,660.28 |
| February 2028 | 2,213.71 | 1,702.86 |
| March 2028 | 2,300.05 | 1,769.27 |
| April 2028 | 2,254.95 | 1,734.58 |
| May 2028 | 2,189.27 | 1,684.05 |
| June 2028 | 2,287.79 | 1,759.84 |
| July 2028 | 2,242.93 | 1,725.33 |
| August 2028 | 2,312.30 | 1,778.69 |
| September 2028 | 2,393.23 | 1,840.94 |
| October 2028 | 2,455.45 | 1,888.81 |
| November 2028 | 2,516.84 | 1,936.03 |
| December 2028 | 2,579.76 | 1,984.43 |
| When | Maximum Price | Minimum Price |
| January 2029 | 2,631.35 | 2,024.12 |
| February 2029 | 2,698.82 | 2,076.02 |
| March 2029 | 2,804.08 | 2,156.98 |
| April 2029 | 2,749.10 | 2,114.69 |
| May 2029 | 2,669.03 | 2,053.10 |
| June 2029 | 2,789.13 | 2,145.49 |
| July 2029 | 2,734.44 | 2,103.42 |
| August 2029 | 2,819.01 | 2,168.47 |
| September 2029 | 2,917.68 | 2,244.37 |
| October 2029 | 2,993.54 | 2,302.72 |
| November 2029 | 3,068.38 | 2,360.29 |
| December 2029 | 3,145.09 | 2,419.30 |
| When | Maximum Price | Minimum Price |
| January 2030 | 3,207.99 | 2,467.68 |
| February 2030 | 3,290.24 | 2,530.96 |
| March 2030 | 3,418.56 | 2,629.66 |
| April 2030 | 3,351.53 | 2,578.10 |
| May 2030 | 3,253.92 | 2,503.01 |
| June 2030 | 3,400.34 | 2,615.65 |
| July 2030 | 3,333.67 | 2,564.36 |
| August 2030 | 3,436.77 | 2,643.67 |
| September 2030 | 3,557.06 | 2,736.20 |
| October 2030 | 3,649.54 | 2,807.34 |
| November 2030 | 3,740.78 | 2,877.52 |
| December 2030 | 3,834.30 | 2,949.46 |
In January 2030, Nava Ltd’s stock is projected to reach a maximum of ₹3,207.99 and a minimum of ₹2,467.68. By March, the price could rise to ₹3,418.56, with a low of ₹2,629.66. Moving through June, the stock might fluctuate between ₹3,400.34 and ₹2,615.65. As we approach September, Nava Ltd’s stock is expected to peak at ₹3,557.06, with a minimum of ₹2,736.20. Finally, as we step into December 2030, the stock could hit a high of ₹3,834.30 and a low of ₹2,949.46.
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 2,759 | 2,548 | 3,348 | 3,528 | 3,818 | 3,998 |
| Expenses + | 1,573 | 1,483 | 2,029 | 1,959 | 2,087 | 2,257 |
| Operating Profit | 1,186 | 1,066 | 1,319 | 1,569 | 1,731 | 1,741 |
| OPM % | 43% | 42% | 39% | 44% | 45% | 44% |
| Other Income + | 12 | 250 | 211 | 400 | 242 | 284 |
| Interest | 319 | 348 | 338 | 397 | 275 | 203 |
| Depreciation | 289 | 300 | 295 | 306 | 319 | 327 |
| Profit before tax | 590 | 668 | 896 | 1,266 | 1,379 | 1,494 |
| Tax % | 10% | 18% | 36% | 3% | 9% | |
| Net Profit + | 531 | 551 | 573 | 1,222 | 1,256 | 1,359 |
| EPS in Rs | 22.44 | 27.06 | 35.68 | 84.2 | 86.57 | 71.56 |
| Dividend Payout % | 7% | 9% | 17% | 7% | 5% |
Nava Ltd has demonstrated remarkable financial growth over the years, underscoring its strong business fundamentals and effective management strategies. From FY20 to FY24, the company has seen a steady rise in its total sales, which increased from ₹2,759 crore in FY20 to ₹3,818 crore by FY24, and further expanded to ₹3,998 crore in the trailing twelve months (TTM). This upward trajectory in sales reflects Nava Ltd’s ability to capitalize on its diversified business segments, particularly in metals and energy, contributing to consistent revenue growth.
On the expense side, the company has successfully managed its operational costs. While expenses increased from ₹1,573 crore in FY20 to ₹2,087 crore in FY24, this was proportionate to the growth in revenue, allowing Nava Ltd to maintain a healthy operating profit. The operating profit climbed from ₹1,186 crore in FY20 to ₹1,731 crore in FY24, showing the company’s ability to improve operational efficiency. The operating profit margin (OPM) remained strong, fluctuating around 44-45%, highlighting the company’s ability to convert sales into profits efficiently.
Other income for the company has been a significant contributor to its overall financials, with a substantial rise in FY23 to ₹400 crore, although it tapered to ₹242 crore in FY24. The interest expenses, which were ₹319 crore in FY20, gradually declined to ₹275 crore in FY24, reflecting better debt management and reduced financial liabilities. Depreciation costs remained relatively steady, with a minor increase from ₹289 crore in FY20 to ₹319 crore in FY24.
The profit before tax (PBT) exhibited impressive growth, jumping from ₹590 crore in FY20 to ₹1,379 crore in FY24, supported by the company’s operational and financial management. Despite fluctuations in the tax rate, which ranged from 3% in FY23 to 36% in FY22, the company’s net profit grew significantly, reaching ₹1,256 crore in FY24, a sharp increase from ₹531 crore in FY20.
Nava Ltd’s earnings per share (EPS) surged dramatically, growing from ₹22.44 in FY20 to ₹86.57 in FY24, reflecting robust profitability and shareholder returns. However, the dividend payout percentage has varied, peaking at 17% in FY22 and declining to 5% in FY24, suggesting a focus on reinvestment and growth rather than immediate shareholder distribution.
FAQs
Nava’s current market capitalization stands at ₹17,314 Cr.
The share price target for 2025 ranges from ₹973.76 (maximum) to ₹1,486.99 (maximum) respectively.
The share price target for 2030 ranges from ₹2,467.68 (minimum) to ₹3,834.30 (maximum).
The stock’s Price/Earnings (PE) ratio is currently 18.0.
The face value of Nava’s stock is ₹2.00.
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In conclusion, Nava Ltd’s robust financial performance and strategic advancements position it favorably in the market. The company has demonstrated consistent revenue growth, with FY24 marking a peak in consolidated revenue and profit. This success is underpinned by its diversified interests across metals, energy, mining, and agribusiness, complemented by significant international export and debt management achievements. The recent repayment of substantial long-term debt further strengthens its financial stability, allowing for future free cash flow distributions. The steady shareholding pattern, with increased participation from foreign institutional investors, reflects growing confidence in Nava Ltd’s prospects. Looking ahead, the projected share price targets for 2024 to 2030 suggest a positive trajectory, supported by the company’s strategic investments in high-growth sectors and strong operational fundamentals. With a current market capitalization of ₹17,314 crore and a favorable PE ratio of 18.0, Nava Ltd is well-positioned to continue its growth and deliver value to its shareholders.
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