Nava Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 19 Jul 2026 | Power | Market Cap: ₹16.5K Cr

Full operations of the 300 MW thermal power plant and 100 MW solar project expected from FY 27-28, with projected revenues of $180-200 million and $15-16 million respectively. Nava Limited is focusing on completion and operation of key growth projects: 300 MW thermal power plant and 100 MW solar project in Zambia, expected to be fully operational by FY '27-28, contributing significant revenue ($180-$200 million and $15-$16 million respectively in full year operations).

From Nava Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹559

Market Cap

₹16.5K Cr

P/E Ratio

21.6

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Nava Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.1K Cr, net profit ₹136 Cr.

Full financials →

📊 Revenue & Sales Performance

→Full operations of the 300 MW thermal power plant and 100 MW solar project expected from FY 27-28, with projected revenues of $180-200 million and $15-16 million respectively.
→Ongoing expansion includes a $55 million avocado project and a $100 million Kawambwa Sugar project, expected to scale over 4-8 years.
→Mining volumes remain steady at 35,000 to 42,000 tons monthly, considered sustainable.
→Domestic power segment faces pricing pressure; growth supported by long-term contracts such as a 5-year PPA at INR 5.2/kWh with Tamil Nadu.
→Zambia’s government is diversifying from hydro; multiple solar projects planned, including Nava's 100 MW solar project, adding renewable capacity.
→Continuous evaluation of pipeline projects for FY 28 and beyond, though details remain confidential at this stage.
→Expansion projects and agriculture diversification aim to enhance cash flows and long-term revenue resilience.

📈 Profitability & Margins

→Nava Limited is focusing on completion and operation of key growth projects: 300 MW thermal power plant and 100 MW solar project in Zambia, expected to be fully operational by FY '27-28, contributing significant revenue ($180-$200 million and $15-$16 million respectively in full year operations).
→Agricultural expansion includes avocado plantations (275 hectares divided into 4 divisions) with initial yields started; significant contribution expected in 4-5 years with $55 million committed capex.
→Kawambwa Sugar project with $100 million commitment, targeted completion by mid-2028, expected to further diversify revenue sources.
→Continued growth expected from stable operations of existing energy plants with planned annual shutdowns, and increasing bilateral power contracts in India to mitigate domestic demand volatility.
→Lithium mining in Africa is in early exploration, potential future growth area but too early to quantify.
→Management emphasizes sustainable long-term value creation with disciplined capital allocation and ongoing evaluation of new projects beyond FY '27.

See what Nava Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

→$55 million committed to avocado plantation project; currently 2 out of 4 divisions planted, with full production expected in ~8 years.
→$100 million committed to Kawambwa Sugar Limited project; sugar complex processing unit expected to complete by mid-2028.
→Ongoing capex for Zambia power projects:
→ - Phase 2 thermal power plant (300 MW) with a total outlay of $400 million; ~$90-100 million spent in current year.
→ - 100 MW solar power plant with $90 million outlay; $10 million capex incurred so far; payback period 10-12 years.
→New projects in pipeline for FY '28, though too early to disclose specifics.
→Constant evaluation of new projects, especially in renewables, agriculture, and power sectors.
→Capex in current year includes $8 million each for avocado and sugar projects.

💰 Fundraising & Capital Structure

→There is no explicit mention of new fundraising through debt or equity in the provided transcript.
→Current capex funding for projects in Zambia (300 MW thermal and 100 MW solar) is through a mix of debt and equity (debt-equity ratio around 70:30).
→The equity portion includes Nava contributing 65% and its partner ZCCM-IH contributing 35%.
→Ashwin Devineni mentioned ensuring enough cash availability for future greenfield or expansion projects, implying internal cash flow management rather than immediate external fundraising.
→No direct discussion of new debt or equity issuance plans for FY '27 or FY '28.
→The company is engaged in capital allocation discipline and buybacks, suggesting a stable financial position without a current need for fresh fundraising.

See what Nava Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

The transcript does not specifically mention current or expected order book or pending orders for Nava Limited. However, it provides insights related to ongoing and upcoming projects which indicate the company's order pipeline: - $55 million commitment for avocado plantation project. - $100 million commitment for the Kawambwa Sugar Limited project. - Ongoing capex includes around $90-$100 million for Phase 2 thermal power plant and $10 million towards the 100 MW solar power plant. - Projects in pipeline are being evaluated for FY '28 and beyond, though specifics are not disclosed yet. - 300 MW thermal power plant and 100 MW solar power plant in Zambia are under execution with completion expected FY '27-28. - Exploration ongoing for lithium mines in Africa, status early. - Company is actively evaluating new projects but too early to commit on them. No exact order book size or pending order numbers were disclosed.

Key Metrics

What Nava Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Nava Ltd Q3 FY26 results?

What is Nava Ltd share price analysis?

Nava Ltd currently shows a neutral. The stock trades at a P/E of 21.6 with a market cap of ₹16,485 Cr. Investors should review the full earnings analysis for detailed insights.

Is Nava Ltd planning capital expenditure?

$55 million committed to avocado plantation project; currently 2 out of 4 divisions planted, with full production expected in ~8 years.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.