Nava Ltd

Nava Ltd

₹ 508 -1.34%
27 Feb 4:01 p.m.
About

Nava Bharat Ventures Ltd was established in 1972 as an Indian ferro alloys manufacturer, Nava Bharat is now a multinational company, operating in India, South East Asia and Africa with businesses in metals manufacturing, power, mining, agribusiness and healthcare. [1]

It owns Ferro Alloy facilities which are situated in Paloncha (Telangana) and Kharagprasad (Odisha). It also owns power generation capacity of 434 MW from its 8 thermal power plants located in different states of India. [2]

Its 65% owned subsidiary Maamba Collieries Ltd is Zambia’s largest coal mine concessionaire, which also led to the development of a 300 MW power plant in Zambia which repersents 10% of Zambia’s total installed power generation capacity. [2]

Key Points

Business Segment FY23

  • Market Cap 7,379 Cr.
  • Current Price 508
  • High / Low 535 / 215
  • Stock P/E 8.10
  • Book Value 440
  • Dividend Yield 1.18 %
  • ROCE 16.8 %
  • ROE 16.6 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Stock is trading at 1.16 times its book value
  • Company has delivered good profit growth of 31.0% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 8.49% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 13.1% over last 3 years.
  • Company has high debtors of 242 days.
  • Working capital days have increased from 176 days to 298 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Diversified Industry: Diversified - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
660 689 558 823 950 1,016 1,025 742 880 881 1,042 922 930
387 433 380 485 542 614 562 471 481 534 506 563 520
Operating Profit 273 256 178 338 408 403 463 271 399 347 536 359 410
OPM % 41% 37% 32% 41% 43% 40% 45% 37% 45% 39% 51% 39% 44%
50 107 54 -49 25 174 89 141 142 117 37 40 180
Interest 78 78 83 88 84 83 89 108 110 91 80 95 46
Depreciation 75 73 72 73 74 76 75 75 78 78 78 78 81
Profit before tax 170 211 76 128 275 417 387 230 353 295 416 226 464
Tax % 5% 24% 50% 112% 30% 14% 12% 22% -3% -16% 18% 15% -0%
162 159 38 -16 191 360 339 178 363 341 343 193 465
EPS in Rs 6.72 8.59 3.05 2.14 11.62 18.79 20.58 9.47 16.89 17.00 17.99 10.22 22.62
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
996 1,142 1,728 1,814 1,612 1,350 2,348 2,946 2,759 2,548 3,348 3,528 3,776
968 894 1,270 1,504 1,246 1,163 1,555 1,585 1,573 1,483 2,029 1,959 2,123
Operating Profit 28 248 458 310 366 187 793 1,361 1,186 1,066 1,319 1,569 1,653
OPM % 3% 22% 26% 17% 23% 14% 34% 46% 43% 42% 39% 44% 44%
368 64 92 113 85 135 69 35 12 250 211 400 375
Interest 25 19 126 112 88 72 246 362 319 348 338 397 312
Depreciation 51 59 112 79 84 90 228 276 289 300 295 306 314
Profit before tax 320 235 312 233 280 159 388 757 590 668 896 1,266 1,400
Tax % 21% 27% 11% 10% -6% 42% 28% 55% 10% 18% 36% 3%
252 171 276 209 297 93 278 339 531 551 573 1,222 1,342
EPS in Rs 15.91 10.66 15.67 11.54 15.88 4.87 13.33 15.47 22.44 27.06 35.68 63.93 67.83
Dividend Payout % 13% 23% 16% 22% 9% 21% 11% 10% 7% 9% 17% 9%
Compounded Sales Growth
10 Years: 12%
5 Years: 8%
3 Years: 9%
TTM: 3%
Compounded Profit Growth
10 Years: 18%
5 Years: 31%
3 Years: 25%
TTM: -1%
Stock Price CAGR
10 Years: 21%
5 Years: 38%
3 Years: 91%
1 Year: 120%
Return on Equity
10 Years: 10%
5 Years: 12%
3 Years: 13%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 18 18 18 18 18 36 36 36 35 30 29 29 29
Reserves 2,302 2,443 3,009 2,894 3,205 3,127 3,349 3,653 4,150 4,382 4,924 5,996 6,357
804 1,273 1,178 1,538 3,708 4,389 4,008 3,438 3,492 3,392 3,587 3,074 1,433
323 534 739 1,463 792 890 838 1,213 1,605 1,832 2,161 2,014 2,256
Total Liabilities 3,447 4,268 4,945 5,912 7,722 8,441 8,230 8,340 9,283 9,636 10,701 11,114 10,075
1,006 1,155 2,048 2,065 2,156 2,148 6,143 5,965 6,019 5,639 5,546 5,664 5,590
CWIP 918 1,068 1,321 2,247 3,574 3,969 10 6 17 17 17 47 73
Investments 116 149 177 106 57 411 175 155 124 314 529 450 435
1,407 1,895 1,399 1,495 1,935 1,913 1,903 2,214 3,122 3,665 4,609 4,953 3,977
Total Assets 3,447 4,268 4,945 5,912 7,722 8,441 8,230 8,340 9,283 9,636 10,701 11,114 10,075

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
233 -142 716 891 -126 39 201 824 527 758 608 1,223
-313 -335 -1,168 -866 -1,380 -690 267 1 7 -216 -212 28
132 423 48 -57 2,016 648 -813 -878 -482 -473 -415 -1,184
Net Cash Flow 51 -54 -403 -32 510 -3 -345 -52 52 69 -19 67

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 27 30 23 27 47 45 113 171 290 131 117 242
Inventory Days 225 291 212 215 181 218 144 160 185 199 148 262
Days Payable 115 72 224 278 67 49 46 54 49 49 34 59
Cash Conversion Cycle 137 249 12 -36 161 215 211 277 426 281 231 444
Working Capital Days 62 -111 -44 -197 41 -25 53 111 176 104 127 298
ROCE % 7% 7% 11% 7% 6% 2% 8% 15% 13% 12% 15% 17%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
45.53% 49.07% 49.26% 49.51% 49.51% 49.53% 48.81% 48.81% 48.81% 48.83% 48.85% 48.85%
0.00% 3.40% 4.85% 6.25% 7.60% 9.40% 10.23% 9.90% 9.38% 8.90% 9.24% 9.18%
2.54% 0.25% 0.25% 0.25% 0.25% 0.25% 0.34% 0.33% 0.32% 0.32% 0.22% 0.08%
51.93% 47.28% 45.64% 44.00% 42.65% 40.82% 40.64% 40.99% 41.50% 41.96% 41.70% 41.90%
No. of Shareholders 47,30045,07450,08645,55947,05146,75653,02849,18349,23347,23146,67449,596

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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