NAVA LIMITED — Investor Presentation 2025

Nov 7, 2025

NAVA LIMITED

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NAVA/SECTL/318/2025-26 November 07, 2025

Listing Department Dept. of Corp. Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5[th] Floor, Phiroze Jeejeebhoy Towers, Plot No.C/1, G Block Dalal Street Bandra Kurla Complex, Bandra (E) MUMBAI – 400 001 MUMBAI – 400 051 NSE Symbol: ‘NAVA’ Scrip Code: ‘513023’ / ‘NAVA

Dear Sir,

Sub: Investor Presentation

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Please find enclosed the investor presentation for the Quarter ended September 30, 2025.

Kindly take the same on record and acknowledge the receipt.

Thanking you, Yours faithfully, for NAVA LIMITED VEGESINA Digitally signed by VEGESINA SATYANARA SATYANARAYANA RAJU YANA RAJU Date: 2025.11.07 15:03:10 +05'30' VSN Raju Company Secretary & Vice President

Encl: as above.

Regd. Off.: Nava Bharat Chambers, 6-3-1109/1, 3rd Floor, Raj Bhavan Road, Somajiguda, Hyderabad - 500 082, Telangana, India. CIN: L27101TG1972PLC001549 T +91 40 40345999, +91 40 23403501 E nava@navalimited.com; investorservices@navalimited.com W www.navalimited.com ISO 9001 | ISO 14001 | ISO 45001 | ISO 50001

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Forging new Paths. Reaching newer Frontiers .

Investor Presentation Q2 FY26

Confidentiality Statement & Disclaimer

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The information shared herein is strictly confidential, proprietary and unique to the company. It is only made and shared for the purpose and extent it is intended for and no other. Usage or sharing of the said information in any form, directly or indirectly and in any manner whatsoever, might constitute a violation of laws or regulations in vogue in geographies in which the company operates, besides breaching confidentiality. The users shall meet any liability emanating from such violation and shall indemnify company for any loss, damage, expense, penalty, fine, fee, charges incurred by company on account of any such violation.

Certain statements in this document that are not historical facts are forward looking statements. Such forwardlooking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Nava Limited will not be in any way be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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Contents

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Highlights Financial Update Business Update
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•
Financial Highlights • Income statement
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•
Business performance
update
•
Ferro alloys
• Energy
• Mining
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Contents

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Highlights Financial Update Business Update
•
• Business performance
Financial Highlights • Income statement
update
•
Ferro alloys
• Energy
• Mining
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Financial highlights for Q2 FY26

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Financial Highlights

Revenue

Consolidated Revenue at ₹ 989.7 Cr

PBT Margin Consolidated PBT at ₹ 244.2 Cr @24.7%

• Revenue grew YoY with higher Ferro Alloys sales at 32,760 MT Vs 19,337 MT for Sep 24

• Energy division sustained the revenue despite early monsoon and prolonged rains, affecting the power demand and tariffs

• FAP division - Realizations lower in the export market

PAT Margin @ 17.9% Consolidated PAT at ₹ 177.5 Cr

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Other highlights for Q2 FY26

Maamba Energy

• Received US$ 30.0 Mn during the quarter, bringing down the outstanding receivable to US$ 55.5 Mn.

Others

• Nava received dividend of US$ 10.0 Mn from Nava Global & INR 13.0 cr from Nava Bharat Energy India Limited during the quarter

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• Paying dividend to the sponsors – Nava Global received US$ 43.6 Mn till 30 Sep & US$ 72.8 Mn till date

• ✓ Odisha-Ops: 60 MW is converted into Independent Power Plant (IPP)

• ✓ MEL’s Phase II 300 MW expansion project is progressing well on all fronts ✓ Maamba Solar’s 100 MW solar project construction commenced in Sep 25

• ✓ Avocado plantation – First fruit yield and income projected in Q3 & Q4 FY26

• ✓ Integrated Sugar project – Sugarcane plantation multiplication is progressing well in phased manner and EPC contract works have commenced

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Contents

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Highlights Financial Update Business Update
•
• Business performance
Financial Highlights • Income statement
update
•
Ferro alloys
• Energy
• Mining
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Annexures

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Consolidated Financial Performance – Q2 FY26

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Particulars	Q2 FY26	Q1 FY26	Q o Q Var %	Q2 FY25	Y o Y Var %		6M FY26 2,157.0 65.3 2,222.3 742.5 (1.6) 231.7 177.4 (99.5) 202.8 968.9 43.6%	6M FY25 2,122.8 78.4 2,201.3 732.2 (109.3) 232.7 138.8 (47.1) 171.9 1,082.1 49.2%	Y o Y Var %	FY 25 3,983.5 151.6 4,135.2 1,329.8 (107.1) 468.4 253.1 (144.9) 349.0 1,986.8 48.0%
Revenue from operations Other income Total Income Cost of materials Change in FG Manufacturing expenses Employee costs Estimated credit loss Other expenses EBITDA EBITDA % Finance Charges Depreciation Profit before Tax (PBT) PBT % Tax expense Profit after Tax Profit / loss from discontinued ops Profit for the period (PAT) PAT %	963.7	1,193.2	-19.2%	900.5 42.4	7.0%				1.6% -16.7% 1.0% 1.4% -98.6% -0.4% 27.9% 111.3% 18.0% -10.5%
	26.0	39.3	-33.9%		-38.8%
	989.7	1,232.6	-19.7%	942.9	5.0%
	354.0	388.5	-8.9%	368.7 (134.3) 120.4 73.0 (29.7) 88.7	-4.0%
	(22.8)	21.2	-207.4%		-83.0%
	125.1	106.6	17.3%		3.9%
	111.6	65.8	69.7%		52.9%
	(25.5)	(74.1)	-65.6%		-14.3%
	106.0	96.9	9.4%		19.4%
	341.3	627.7	-45.6%	456.1	-25.2%
	34.5%	50.9%		48.4%
							4.1 184.7 780.1 35.1%	15.1 174.4 892.5 40.5%	-72.9% 5.9% -12.6%	25.9 352.4 1,608.5 38.9%
	2.8 94.3	1.3 90.5	113.1% 4.2%	6.5 88.4	-57.3% 6.7%
	244.2 24.7%	535.9 43.5%	-54.4%	361.3 38.3%	-32.4%
	(66.3) 177.9	(136.5) 399.4	-51.4% -55.5%	(31.4) 329.9	111.3% -46.1%		(202.8) 577.3 (0.7) 576.6 25.9%	(116.4) 776.2 1.7 777.9 35.3%	74.3% -25.6% -141.1% -25.9%	(172.8) 1,435.7 (1.7) 1,434.0 34.7%
	(0.40)	(0.3)	25.9%	2.08	-119.2%
	177.5 17.9%	399.1 32.4%	-55.5%	332.0 35.2%	-46.5%
Earnings per share(Rs. Per share)	4.58	10.89		8.65			15.46	20.91		37.69

8 All Amounts are in Rupees Crores unless otherwise stated S U M M A R Y

Standalone Financial Performance – Q2 FY26

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		Particulars	Q2 FY26	Q1 FY26	Q o Q Var %	Q2 FY25	Y o Y Var %		6M FY26	6M FY25	Y o Y Var %	FY 25 1,612.0 188.2 1,800.2 970.1 (95.4) 83.1 105.2 174.1 563.2 31.3%
		Revenue from operations Other income Total Income Cost of materials Change in inventories Manufacturing expenses Employee costs Other expenses EBITDA EBITDA % Finance Charges Depreciation Profit before Tax (PBT) PBT % Tax expense Profit after Tax Profit / loss from discontinued ops Profit for the period (PAT) PAT %	439.5	529.9	-17.1%	330.6	32.9%
									969.40 158.32 1,127.7 552.47 6.23 42.31 66.04 88.51 372.2 _33.0% _	848.5 127.6 976.0 527.8 (94.0) 41.4 57.8 84.7 358.3 36.7%	14.3% 24.1% 15.5% 4.7% -106.6% 2.1% 14.3% 4.5% 3.9%
			115.5	42.8	169.8%	99.9	15.6%
			555.0	572.7	-3.1%	430.5	28.9%
			273.5	279.0	-2.0%	275.2	-0.6%
			(8.8)	15.0	-158.6%	(112.6)	-92.2%
			21.1	21.2	-0.1%	22.4	-5.7%
			37.8	28.3	33.7%	28.0	34.7%
			46.4	42.1	10.2%	44.3	4.9%
			185.0	187.2	-1.2%	173.2	6.8%
			_33.3% _	32.7%		40.2%
									0.71 17.60 353.8 31%	1.4 16.7 340.2 35%	-47.5% 5.5% 4.0%	2.6 34.1 526.5 29%
			0.3	0.4	-9.3%	0.4	-23.3%
			8.9	8.7	1.8%	8.5	4.9%
			175.7	178.1	-1.3%	164.3	7.0%
			**31.7% **	31.1%		38.2%
			(18.9) 156.9 (0.4) 156.5 **28.2% **	(36.7) 141.4 (0.3) 141.0 24.6%	-48.6% 11.0% 25.8% 10.9%	(20.2) 144.0 2.1 146.1 33.9%	-6.6% 8.9% -119.2% 7.1%
									(55.61) 298.2 (0.72) 297.5 **26.4% **	(64.8) 275.4 1.74 277.2 28.4%	-14.2% 8.3% -141.2% 7.3%	(103.1) 423.4 (1.7) 421.7 23.4%
		Earnings per share(Rs. Per share)	5.53	4.99		5.04			10.51	9.55		14.54
9	S U M M A R Y All Amounts are in Rupees Crores unless otherwise stated

9 All Amounts are in Rupees Crores unless otherwise stated S U M M A R Y

Contents

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Highlights Financial Update Business Update
•
• Business performance
Financial Highlights • Income Statement
update
•
Business Highlights
•
Ferro alloys
• Energy
• Mining
Annexures
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Business segment update – Ferro Alloys

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Ke O eratin Metrics y p g

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Q2 Q1 Q o Q Q2 Y o Y 6M 6M
Particulars FY 25
FY26 FY26 Var % FY25 Var % FY26 FY25
Silico Manganese
Production (tons) 31,770 28,172 12.8% 30,676 3.6% 59,942 51,610 104,165
Sales (tons) 32,110 29,789 7.8% 16,694 92.3% 61,899 39,683 94,686
Ferro Silicon
Production (tons) 2,219 3,447 -35.6% 2,355 -5.8% 5,666 4,813 13,490
Sales (tons) 650 3,341 -80.5% 2,643 -75.4% 3,991 4,700 12,162
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• Production of Si Mn Alloys increased during the quarter with the moving of a furnace producing Fe Si production to Si Mn

• Si Mn sales quantity increased YoY by 92.3% with higher export sales

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Business segment update – Energy (India)

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Key Operating Metrics

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Q2 Q1 Q o Q Q2 Y o Y 6M 6M
Particulars FY 25
FY26 FY26 Var % FY25 Var % FY26 FY25
Total Power Units
Sold (in Mn kWh) 524 693 -24.4% 542 -3.3% 1217 1227 2183
Merchant – Nava 181 288 -37.3% 162 11.6% 469 464 768
Merchant – NBEIL 169 236 -28.4% 208 -18.7% 405 465 783
Captive 174 169 3.2% 172 1.1% 342 298 632
Average PLF (%) 65.8% 86.6% 68.4% 76.1% 77.7% 69.4%
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• Energy division operated at healthy PLFs despite the planned shutdowns at Odisha-Ops o Telangana Ops – 114 MW plant operated at PLF of 81.3% Vs 72.5% for Sep 24 o Odisha Ops – 150 MW plant witnessed PLF of 59.6% Vs 61.0% for Sep 24 with the maintenance shutdowns

• 150 MW unit of NBEIL operated at PLF of 60.1% Vs 73.2% for Sep 24. Lower demand affected the generation

• Captive Power sales increased with the higher Si Mn alloys production

Note:

• NBEIL: Nava Bharat Energy India Ltd; IPP: Independent Power Producer; CPP: Captive Power Plant.

• * PLF (%) provided for Operating Capacities of 414 MW

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Business segment update – MEL Zambia

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KeyOperatingMetrics	KeyOperatingMetrics	KeyOperatingMetrics				• Total revenue sustained Y-o-Y despite planned maintenance shutdown • PAT was affected by forex loss & tax expense. Power division profits are taxable at 15% from this FY Phase II • Construction works are progressing well across all major fronts • 100% of Engineering works completed • Manufacturing of all critical equipment are at advanced stages of completion • Debt of US$ 175.6 Mn drawn as on 30 Sep 25
Particulars Q2 FY26 Q1 FY26 Q2 FY25 Average PLF (%) 80.4% 95.2% 84.5% Power Units Sold (in Mn kWh) 478 560 500 Coal – Outside sales (MT 000's) 115 118 110	Q2 FY26	Q1 FY26 Q2 FY25	6M FY26	6M FY25	FY 25
			87.7 92.2% 1038.5 1,087.90 233 235.00		89.8% 2,109 443
Particulars Q2 FY26 Q1 FY26 Q2 FY25 Total Revenue 57.0 65.8 58.4 EBITDA 25.6 50.7 37.2 PAT 12.9 33.9 27.1 Receivables 97.0 132 241			6M FY26		FY 25 245.2 155.4 115.5 202

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Nava Limited

VSN Raju Vice President & Company Secretary Tel : + 91 40 2340 3501 | Email : vsn.raju@navalimited.com

THANK YOU