Nava has announced a strategic maintenance shutdown of its ferro alloys furnaces located in Odisha, scheduled to commence from April 1, 2026. In a regulatory filing dated March 30, 2026, the company informed stock exchanges about the planned temporary shutdown under Regulation 30 of SEBI Listing Regulations.

Maintenance Schedule and Asset Management Strategy

The company has outlined that both furnaces of the Ferro Alloys Plant (FAP) at its Odisha manufacturing unit have been operational for over 25 years and are due for mid-life structural inspection and maintenance. As part of its proactive asset management strategy, the shutdown will ensure long-term operational efficiency, safety, and reliability while complying with safety and regulatory requirements.

Continued Power Operations and Market Opportunity

Despite the ferro alloys production halt, the company's 30 MW Captive Power Plant (CPP) at the unit will continue operations without disruption. The power generated will be exported to the grid through bilateral contracts during the maintenance period.

Financial Impact and Market Positioning

The company expects improved realizations from power sales during this period, driven by expected peak summer demand and favourable market prices. This strategic positioning aims to optimize overall returns, with management not anticipating any material adverse impact on financial performance.

The maintenance shutdown represents a proactive approach to equipment management, ensuring the long-term viability of assets that have been operational for over two decades. The company has committed to provide prompt updates upon resumption of ferro alloys operations after the three-month maintenance period.

Nava Limited 's Board of Directors has approved the incorporation of two wholly owned subsidiaries in GIFT City IFSC, Gujarat, marking a strategic expansion into specialized investment holding activities. The decision was taken during the board meeting held on March 10, 2026, which commenced at 11:00 a.m. (IST) and concluded at 12:30 p.m. (IST).

Subsidiary Details and Structure

The company will establish two distinct investment holding entities with specific operational mandates:

Investment Framework and Capital Structure

Both subsidiaries will receive identical initial funding arrangements from Nava Limited's internal accruals:

The incorporation process will involve an initial investment of ₹1,00,000 for each entity, with the remaining investment amount to be deployed upon receipt of required IFSC approvals.

Business Objectives and Operations

Nava Agrivest (IFSC) Private Limited will function as an investment holding company focused on commercial agricultural investments across regions. The entity will hold investments in step-down subsidiaries engaged in commercial agriculture and facilitate structured overseas agricultural investments under the IFSC framework.

Nava Holdings (IFSC) Private Limited will serve as an investment holding company for investments in group businesses excluding commercial agriculture activities.

Regulatory Compliance and Approvals

The incorporation process requires approvals from multiple regulatory authorities:

• Ministry of Corporate Affairs (MCA)
• International Financial Services Centres Authority (IFSCA)
• Other applicable authorities as required

The company has disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with mandatory disclosure requirements for material events.