Nava Ltd

₹ 221 -3.91%
27 Jan - close price
nbventures.com BSE: 513023 NSE : NAVA
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

Captive Power for Ferro Alloy facilities
The Company’s Ferro Alloys facilities are supported by captive power from its own power plants giving them certain inherent advantages in terms of availability of power and control on costs.

Company's 125,000-TPA silico manganese manufacturing facility in Telangana is supported by a 114-MW captive power plant, and its 55,000 TPA silico-manganese capacity (post conversion from ferrochrome to silico-manganese) in Odisha is supported by a 90-MW captive power plant in the state[1]

Website BSE NSE
  • Market Cap ₹ 3,207 Cr.
  • Current Price ₹ 221
  • High / Low ₹ 279 / 113
  • Stock P/E 3.70
  • Book Value ₹ 380
  • Dividend Yield 2.71 %
  • ROCE 16.2 %
  • ROE 12.2 %
  • Face Value ₹ 2.00
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Pros

  • Stock is trading at 0.58 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 63.2% CAGR over last 5 years
  • Debtor days have improved from 179 to 117 days.

Cons

  • Company has a low return on equity of 11.2% over last 3 years.

* 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
672 510 809 599 600 660 689 558 823 950 1,016 1,025 742
395 296 571 318 359 387 433 380 485 542 614 562 471
Operating Profit 276 213 238 282 241 273 256 178 338 408 403 463 271
OPM % 41% 42% 29% 47% 40% 41% 37% 32% 41% 43% 40% 45% 37%
34 10 106 32 75 50 107 54 -49 25 174 89 141
Interest 83 82 74 106 86 78 78 83 88 84 83 89 108
Depreciation 73 73 71 76 75 75 73 72 73 74 76 75 75
Profit before tax 155 69 199 131 156 170 211 76 128 275 417 387 230
Tax % 9% 13% 7% 27% 14% 5% 24% 50% 112% 30% 14% 12% 22%
Net Profit 141 60 185 95 134 162 159 38 -16 191 360 339 178
EPS in Rs 5.38 2.70 8.11 3.90 5.77 6.72 8.59 3.05 2.14 11.62 18.79 20.58 9.47
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,090 996 1,142 1,728 1,814 1,612 1,350 2,348 2,946 2,759 2,548 3,348 3,733
866 968 894 1,270 1,504 1,246 1,163 1,555 1,585 1,573 1,483 2,029 2,189
Operating Profit 224 28 248 458 310 366 187 793 1,361 1,186 1,066 1,319 1,545
OPM % 21% 3% 22% 26% 17% 23% 14% 34% 46% 43% 42% 39% 41%
216 368 64 92 113 85 135 69 35 12 250 211 429
Interest 41 25 19 126 112 88 72 246 362 319 348 338 364
Depreciation 47 51 59 112 79 84 90 228 276 289 300 295 301
Profit before tax 352 320 235 312 233 280 159 388 757 590 668 896 1,309
Tax % 6% 21% 27% 11% 10% -6% 42% 28% 55% 10% 18% 36%
Net Profit 330 252 171 276 209 297 93 278 339 531 551 573 1,068
EPS in Rs 22.49 15.91 10.66 15.67 11.54 15.88 4.87 13.33 15.47 22.44 27.06 35.68 60.46
Dividend Payout % 13% 13% 23% 16% 22% 9% 21% 11% 10% 7% 9% 17%
Compounded Sales Growth
10 Years: 13%
5 Years: 20%
3 Years: 4%
TTM: 37%
Compounded Profit Growth
10 Years: 15%
5 Years: 63%
3 Years: 24%
TTM: 237%
Stock Price CAGR
10 Years: 8%
5 Years: 7%
3 Years: 46%
1 Year: 73%
Return on Equity
10 Years: 9%
5 Years: 10%
3 Years: 11%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
15 18 18 18 18 18 36 36 36 35 30 29 29
Reserves 1,875 2,295 2,443 2,715 2,892 3,205 3,127 3,376 3,681 4,150 4,382 4,924 5,484
726 804 1,273 1,178 1,538 3,708 4,389 4,008 3,438 3,492 3,392 3,587 3,863
226 330 534 1,034 1,464 792 890 811 1,185 1,605 1,832 2,161 2,587
Total Liabilities 2,843 3,447 4,268 4,945 5,912 7,722 8,441 8,230 8,340 9,283 9,636 10,701 11,963
939 1,006 1,155 2,048 2,065 2,156 2,148 6,143 5,965 6,019 5,639 5,546 5,750
CWIP 302 918 1,068 1,321 2,247 3,574 3,969 10 6 17 17 17 37
Investments 199 116 149 177 106 57 411 175 155 124 314 529 538
1,402 1,407 1,895 1,399 1,495 1,935 1,913 1,903 2,214 3,122 3,665 4,609 5,638
Total Assets 2,843 3,447 4,268 4,945 5,912 7,722 8,441 8,230 8,340 9,283 9,636 10,701 11,963

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
181 233 -142 716 891 -126 39 201 824 527 758 608
-223 -313 -335 -1,168 -866 -1,380 -690 267 1 7 -216 -212
198 132 423 48 -57 2,016 648 -813 -878 -482 -473 -415
Net Cash Flow 156 51 -54 -403 -32 510 -3 -345 -52 52 69 -19

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 27 27 30 23 27 47 45 113 171 290 131 117
Inventory Days 321 225 291 212 215 181 218 144 160 185 199 148
Days Payable 121 115 72 224 278 67 49 46 54 49 49 34
Cash Conversion Cycle 227 137 249 12 -36 161 215 211 277 426 281 231
Working Capital Days 67 62 -111 -44 -197 41 -25 53 111 176 104 127
ROCE % 14% 7% 7% 11% 8% 6% 2% 8% 16% 14% 13% 16%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
46.30 46.30 46.45 46.45 45.53 49.07 49.26 49.51 49.51 49.53 48.81 48.81
11.87 11.55 9.99 6.83 2.25 3.40 4.85 6.25 7.60 9.40 10.23 9.90
9.59 9.02 8.18 3.70 0.29 0.25 0.25 0.25 0.25 0.25 0.34 0.33
30.65 31.54 33.79 41.44 51.93 47.28 45.64 44.00 42.65 40.82 40.64 40.99
1.59 1.59 1.59 1.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

* 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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