On November 14, 2024, Nava Ltd.’s board of directors approved a 2:1 stock split, where each fully paid equity share with a face value of ₹2 will be split into two shares with a face value of ₹1 each. The company has not yet announced the record date for this stock split. This move will double the number of shares in circulation, making the stock more accessible to a broader investor base, although the overall value of an investor’s holdings will remain unchanged.
Nava Ltd. has been a standout performer in the market, delivering impressive returns. Over the past five years, the stock has surged by 1,329.94%, significantly outperforming its historical performance. In the short term, the stock has also shown substantial growth, rising by 76.38% in the last six months, 99.82% year-to-date, and 124.77% in the past year. As of November 14, 2024, the stock closed at ₹893, showing a marginal increase of 0.16% from the previous day’s close. It reached a 52-week high of ₹1,347.80 in September 2024 and a low of ₹374 in November 2023.
Along with the stock split announcement, Nava Ltd. released its Q2 financial results for the quarter ending September 30, 2024. The company reported a strong 71.7% year-over-year increase in its consolidated profit after tax (PAT), which rose to ₹331.9 crore. The standalone profit stood at ₹146.1 crore, boosted by a USD 10 million dividend from its subsidiary, Nava Bharat (Singapore). Despite facing some operational challenges, the company’s revenue remained robust across its diversified portfolio, which includes metals, energy, and agriculture.
Ashwin Devineni, CEO of Nava Ltd., expressed confidence in the company’s financial health and strategic direction. He credited the strong results to the company’s diversified business model, prudent financial management, and significant debt reduction, which have collectively bolstered cash flows and enhanced shareholder value. Devineni also highlighted the company’s global expansion, noting the new integrated sugar plant in Zambia and continued investments in healthcare in Southeast Asia and commercial agriculture in Zambia.
Nava Ltd., headquartered in Hyderabad, is a leading manufacturer of ferroalloys in India and has expanded its operations into power generation, metals, mining, healthcare, and commercial agriculture. The company operates Zambia’s largest mine-to-mouth power plant and is increasingly focusing on high-growth opportunities in Africa and Southeast Asia.
With its strong financial performance, strategic expansion plans, and a stock split to enhance accessibility, Nava Ltd. appears poised for continued growth and success in the years ahead.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial or investment advice. Please consult with a qualified financial advisor before making any investment decisions.
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