NAVA LIMITED — Investor Presentation 2025

Aug 14, 2025

NAVA LIMITED

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NAVA/SECTL/199/2025-26 August 14, 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 June 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: 2025.08.14 13:21:49 +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 Q1 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

• Segment performance

• 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
•
Segment performance •
Ferro alloys
•
Operational performance •
Energy
• Mining
• Operations& Maintenance
•
Commercial agriculture
•
Healthcare
Annexures
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Financial highlights for Q1 FY26

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Financial Highlights

Revenue

Consolidated Revenue at ₹ 1,232.6 Cr for Q1

• growth of 16.7% QoQ

• decline by 2.0% YoY

• Revenue & PAT grew QoQ driven by exceptional operational performance of Energy division

• Energy division PBT saw QoQ growth of 131.7% with the high PLFs at all power plants o 114 MW - 86.9%, one of the highest

• 150 MW Odisha plant - 90.1% PLF

Consolidated PBT at ₹ 535.9 Cr – Highest ever

PBT Margin @43.5%

• QoQ growth of 65.3%

• YoY growth of 0.9%

PAT Margin Consolidated PAT at ₹ 399.1 Cr Q1FY26 @ 32.4% •

• QoQ growth of 31.8%

• decline by 10.5% YoY

• MEL 300 MW - 95.2% PLF

o NBEIL – 82.8% PLF

• FAP division witnessed improved realizations in Ferro Silicon Alloys during the quarter

• MEL – 50% income tax concession regime for power division from this FY, resulting in lower PAT.

• Mining division continued its stable performance

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Other highlights for Q1 FY26

Maamba Energy

• Received US$ 75.0 Mn during the quarter, bringing down the outstanding receivable to US$ 85.5 Mn.

• Paid dividend of US$ 50.0 Mn to the sponsors, Nava group received US$ 32.5 Mn as its share

Others

• Nava received dividend of US$ 4.0 Mn from Nava Global during the quarter

• Name of material subsidiary Nava Bharat (Singapore) Pte Ltd changed to Nava Global Pte Ltd wef Aug 01, 2025

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• MEL’s Phase II 300 MW expansion project and Maamba Solar’s 100 MW solar project are on track for scheduled commissioning in Q2 FY27

• Avocado plantations are on track for first commercial harvest in Nov/Dec 2025

• Integrated Sugar project plantation is progressing well with contracts for project construction under finalization

• 20 MW idle co-gen plant is being relocated to Zambia as part of sugar project in Zambia

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Contents

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Highlights Financial Update Business Update
•
• Business performance
Financial Highlights • Income statement
update
•
Business Highlights •
Segment performance •
Ferro alloys
• Energy
• Mining
• Operations& Maintenance
•
Commercial agriculture
•
Healthcare
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Annexures

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Consolidated Financial Performance – Q1 FY26

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Particulars	Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y **Var % **	FY 25
Revenue from operations	1,193.2	1,018.2	17.2%	1,222.4	-2.4%	3,983.5
Other income	39.3	37.5	4.8%	36.0	9.3%	151.6
Total Income	1,232.6	1,055.8	16.7%	1,258.4	-2.0%	4,135.2
Cost of materials	388.5	318.0	22.2%	363.5	6.9%	1,329.8
Change in FG	21.2	93.5	-77.3%	25.0	-15.1%	(107.1)
Manufacturing expenses	106.6	117.7	-9.4%	112.3	-5.0%	468.4
Employee costs	65.8	61.2	7.5%	65.8	0.0%	253.1
Estimated credit loss	(74.1)	(47.5)	55.9%	(17.4)	325.6%	(144.9)
Other expenses	96.9	93.7	3.3%	83.2	16.4%	349.0
EBITDA	627.7	419.2	49.7%	626.0	0.3%	1,986.8
EBITDA %	50.9%	39.7%		49.7%		48.0%
Finance Charges	1.3	4.7	-72.4%	8.6	-84.8%	25.9
Depreciation	90.5	90.1	0.3%	86.1	5.1%	352.4
Profit before Tax (PBT)	535.9	324.3	65.3%	531.3	0.9%	1,608.5
PBT %	43.5%	30.7%		42.2%		38.9%
Tax expense	(136.5)	(21.1)	545.8%	(85.0)	60.6%	(172.8)
Profit after Tax	399.4	303.2	31.7%	446.3	-10.5%	1,435.7
Profit / loss from discontinued ops	(0.3)	(0.3)	-2.9%	(0.3)	-6.9%	(1.7)
Profit for the period (PAT)	399.1	302.8	31.8%	445.9	-10.5%	1,434.0
PAT %	32.4%	28.7%		35.4%		34.7%

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

Consolidated – Revenue & PBT by Segment Q1 FY26

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Particulars	Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y Var %	FY 25		19.9% 71.6% 8.4% 0.1% Metals Energy Mining Others
Ferro Alloys	291.4	349.1	-16.5%	232.1	25.5%	928.	8
Energy	1,045.3	834.6	25.2%	1,109.4	-5.8%	3,652.	9
Mining	123.3	99.3	24.2%	124.9	-1.3%	456.	0
Others	0.8	1.5	-45.2%	7.5	-88.7%	11.	9
Total	1,460.8	1,284.5	**13.7% **	1,473.9	-0.9%	5,049.	5
Less: Inter segment	(267.6)	(266.3)	0.5%	(251.5)	6.4%	(1,066.	0)
Revenue from Ops	1,193.2	1,018.20	**17.2% **	1,222.4	-2.4%	3,983.	5

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1.5%
37.1%
57.2%
4.2%
Metals Energy Mining Others
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Particulars	Q1	Q4	Q o Q	Q1	Y o Y	FY 25
	FY26	FY25	Var %	FY25	Var %
Ferro Alloys	13.6	2.0	567.0%	23.2	-41.3%	26.9
Energy	516.8	223.0	131.7%	397.4	30.0%	1,223.9
Mining	38.1	18.9	101.7%	45.6	-16.5%	162.7
Unallocated	334.7	81.6	310.3%	63.2	429.6%	208.4
Less: inter-segment	(367.2)	(1.2)		1.9		(13.3)
PBT	535.9	324.3	65.2%	531.3	0.9%	1,608.5

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

Standalone Financial Performance – Q1 FY26

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Particulars	Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y **Var % **	FY 25
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 %	529.9	483.6	9.6%	517.9	2.3%	1,612.0
	42.8	44.7	-4.3%	27.7	54.7%	188.2
	572.7	528.3	8.4%	545.5	**5.0% **	1,800.2
	279.0	223.6	24.8%	252.6	10.4%	970.1
	15.0	82.7	-81.8%	18.7	-19.5%	(95.4)
	21.2	19.5	8.4%	19.0	11.4%	83.1
	28.3	24.3	16.3%	29.7	-4.9%	105.2
	42.1	51.1	-17.6%	40.4	4.2%	174.1
	187.2	127.2	47.1%	185.1	1.1%	563.2
	_32.7% _	24.1%		33.9%		31.3%
	0.4	0.6	-34.1%	0.9	-59.2%	2.6
	8.7 178.1 **31.1% **	8.6 118.1 22.4%	1.7% 50.8%	8.2 176.0 32%	6.1% 1.2%	34.1 526.5 29%
	(36.7) 141.4 (0.3) 141.0 **24.6% **	(20.6) 97.5 (0.3) 97.1 18.4%	78.0% 45.1% 45.2%	(44.6) 131.4 (0.3) 131.1 24.0%	-17.6% 7.6% 7.6%	(103.1) 423.4 (1.7) 421.7 23.4%

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

Standalone – Revenue & PBT by Segment Q1 FY26

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Particulars		Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y Var %	FY 2	5
Ferro Alloys		291.4	349.1	-16.5%	232.1	25.5%	92	8.8
Energy		333.8	232.3	43.7%	356.4	-6.3%	1,03	9.3
Total		625.2	581.4	7.5%	588.5	6.2%	1,96	8.1
Less: Inter segment		(95.3)	(97.9)		(70.7)		(35	6.1)
Revenue from Ops		529.9	483.60	9.6%	517.9	2.3%	1,61	2.0

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7.6%
14.2%
78.2%
Metals Energy Unallocated
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	Particulars			Q1	Q4	Q o Q	Q1	Y o Y		FY 25
				FY26	FY25	Var %	FY25	Var %
	Ferro Alloys			13.6	2.8	395.2%	23.2	-41.3%		26.9
	Energy			139.2	85.9	62.0%	146.9	-5.2%		389.3
	Unallocated			25.3	29.4	-14.1%	5.9	327.2%		110.3
	PBT			178.1	118.1	50.8%	176.0	1.2%		526.5

11 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 • Revenue
update
•
Business Highlights •
Income statement update •
Ferro alloys
•
Margin bridge •
Energy
•
Cash generation •
Mining
Annexures
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Business segment update – Ferro Alloys

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Key Operating Metrics

Particulars	Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y Var %	FY 25
Silico Manganese Production (tons) 28,172 25,617 10.0% Sales (tons) 29,789 37,645 -20.9% Ferro Silicon Production (tons) 3,447 5,145 -33.0% Sales(tons) 3,341 4,682 -28.6%				20,934 34.6% 22,989 29.6% 2,458 40.2% 2,127 57.1%		104,165 94,686 13,490 12,162

• Production of Si Mn Alloys increased during the quarter with the moving of one furnace from Fe Si production. During the quarter 5 furnaces produced Si Mn Alloys & one furnaces produced Fe Si Alloys

• Sales quantity declined QoQ because of exceptional export sales made during the quarter of Mar 25.

• Fe Si Alloys realisations were higher with majority of export sales during the quarter

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Business segment update – Energy (India)

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Key Operating Metrics

Particulars	Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y Var %	FY 25
Total Power Units Sold (in Mn kWh) 693 535 29.6% Merchant – Nava 288 163 77.0% Merchant – NBEIL 236 200 18.1% Captive 169 172 -2.0% * Average PLF(%) 86.6% 69.1%				686 302 257 127 87.2%	1.1% -4.6% -8.0% 32.9%	2183 768 783 632 69.4%

• Energy division operated at healthy PLFs with the summer demand & availability of bilateral contracts o Telangana Ops – 114 MW plant operated at PLF of 86.9% Vs 81.8% for Jun 24 o Odisha Ops – 150 MW plant witnessed PLF of 90.1% Vs 87.3% for Jun 24

• 150 MW unit of NBEIL operated at PLF of 82.8% Vs 91.2% for Jun 24

• Captive Power sales increased with the increased 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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Key Operating Metrics

Particulars Q1 FY26 Q4 FY25 Q o Q Var % Q1 FY25 Y o Y Var % FY 25 Power Units Sold (in Mn kWh) 560 464 20.9% 588 -4.7% 2,109 Average PLF (%) 95.2% 80.4% 99.9% 89.8% Coal – Outside sales (MT 000's) 118 101 16.5% 125 -5.5% 443 Particulars Q1 FY26 Q4 FY25 Q o Q Var % Q1 FY25 Y o Y Var % FY 25 Total Revenue 66 55 19.6% 67 -1.8% 245 EBITDA 51 31 64.5% 42 21.4% 155 PAT 34 23 48.8% 31 12.2% 116 Receivables 132 202 -34.5% 282 -53.1% 202	Particulars	Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y Var %	FY 25	• Power revenue increased by 20.6% Q- o-Q with PLF of 96.3% Vs 80.9% for Mar 25. • Coal revenue grew by 18.0% with the increase in external sales quantities by 16.5% Q-o-Q • Power division profits are taxable at 15% from this FY. Phase II • Construction works are progressing well with civil foundations completed and commencement of mechanical erection works • Manufacturing of Boiler, Turbine and Generator equipment are in advances stage with stage/final inspections underway
	Power Units Sold (in Mn kWh) 560 464 20.9% Average PLF (%) 95.2% 80.4% Coal – Outside sales (MT 000's) 118 101 16.5%				588 99.9% 125	-4.7% -5.5%	2,109 89.8% 443
	Particulars	Q1 FY26	Q4 FY25	Q o Q Var %	Q1 FY25	Y o Y Var %	FY 25
	Total Revenue 66 55 19.6% EBITDA 51 31 64.5% PAT 34 23 48.8% Receivables 132 202 -34.5%				67 42 31 282	-1.8% 21.4% 12.2% -53.1%	245 155 116 202
								• Debt of US$ 135.2 Mn drawn as on 30 June 25
15	S U M M A R Y

•

Debt of US$ 135.2 Mn drawn as on 30 June 25

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Nava Limited

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

THANK YOU