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Nava Bharat Ventures spurts after Q3 PAT rises 42% YoY to ₹ 169 cr 
(15:15, 28 Jan 2022)
On a consolidated basis, profit before tax rose 61.23% to ₹ 273.75 crore in Q3 December 2021 as against ₹ 169.79 crore in Q3 December 2020.

Adjusted EBITDA rose 30.8% to ₹ 507.51 crore in Q3 December 2021 over Q3 December 2020. Adjusted EBITDA margin stood at 50.5% in Q3 December 2021 as against 54.7% in Q3 December 2020.

Provision for expected credit loss continued to impact the reported adjusted EBIDTA while impact on account of forex adjustment remained minimal for the quarter.

Consolidated revenue increased due to strong standalone operational performance and increased plant availability of Maamba Collieries Limited (MCL), the step down subsidiary of Nava Bharat Ventures, during Q3. International operations were stable with merchant coal sales exhibiting continuing strength.

The company's consolidated debt stood at ₹ 3591.60 crore as on 31 December 2021 as against ₹ 3550.80 crore as on 31 December 2020. Most of the debt on consolidated front pertains to Zambian operations which does not have any recourse to the company nor its any subsidiary.

On a standalone basis, Nava Bharat Ventures reported 99% growth in revenue, 238% growth in EBITDA and 222% growth in PAT for the quarter.

Commenting on the results, Asbwin Devineni, CEO, said: For Q3FY22 Nava Bharat has delivered strong top-line growth riding On its Ferro Alloys and Standalone Power business operations. On International operations front, Zambian power operations remained stable with continued improvement in merchant coal sales. Nava Bharat ha been continuing its efforts to further strengthen its operations especially via backward integration. Company has received exploration permit from the Government Cote d'ivoire (Ivory Coast) for manganese ore in Q2FY22. Recently the Company has completed its INR 1.5 bn buyback program for FY22 and it continues to explore more opportunities which can further enhance shareholder value.

Nava Bharat Ventures is an Indian conglomerate with business interest in ferro alloys, power generation, coal mining and healthcare. Nava Bharat is one of the leading Ferro alloy producers in India with about 125,000 MT of Manganese and about 75,000 MT of Chrome Alloy capacities. The Group has total installed power generation capacity of 434MW in Telangana, Andhra Pradesh and Odisha in India. Nava Bharat owns and operates an integrated mine mouth 300 MW thermal power plant in Zambia, held through its step down subsidiary Maamba Collieries Limited (65%).

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