NAVA Limited has announced a leadership transition in its finance department, with the Board of Directors approving key changes to the Chief Financial Officer position effective March 2026. The company disclosed these developments in a regulatory filing dated February 05, 2026, ensuring compliance with SEBI listing regulations.

New CFO Appointment

The Board has approved the appointment of Mr. B. Srinivasa Rao as Chief Financial Officer and Key Managerial Personnel, effective March 04, 2026. Mr. Srinivasa Rao has been associated with NAVA Limited since June 2023, currently serving as Financial Controller.

Professional Background and Qualifications

Mr. Srinivasa Rao brings extensive experience across a wide spectrum of finance functions, including financial reporting, controllership, audits, treasury, taxation, mergers and acquisitions, financial planning and analysis, and business finance. His current responsibilities at NAVA include consolidation of accounts, treasury management, business accounts, taxation, costing, and overall supervision of the finance and accounts function.

The incoming CFO is a Chartered Accountant and holds a Bachelor's degree in Commerce from Nagarjuna University, Andhra Pradesh. His shareholding in the company includes 13,700 shares held personally and 4,600 shares held by his spouse.

Outgoing CFO Resignation

Concurrently, Mr. K.V.S. Vithal has resigned from his position as Chief Financial Officer and Key Managerial Personnel, effective from the close of business hours on March 03, 2026. The resignation, submitted via letter dated February 04, 2026, cites the pursuit of better professional prospects as the reason for departure.

Regulatory Compliance

The company has fulfilled all disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement includes comprehensive details as mandated by SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, covering both the appointment and resignation processes.

The transition ensures continuity in NAVA Limited's financial leadership, with Mr. Srinivasa Rao's institutional knowledge and established presence within the organization facilitating a smooth handover of responsibilities.

NAVA Limited submitted its Q3FY26 earnings conference call transcript to the National Stock Exchange of India Limited and BSE Limited on February 11, 2026, under Regulation 30 of SEBI Listing Regulations. The conference call, held on February 05, 2026, was hosted by ICICI Securities and featured comprehensive discussions on the company's operational and financial performance for the third quarter ended December 31, 2025.

Management Participation and Key Announcements

The earnings call was led by Managing Director and CEO Ashwin Devineni, along with Executive Directors GRK Prasad and Nikhil Devineni. The management highlighted the successful completion of Nava Global's $50 million buyback, supported by strong dividend flows from Maamba Energy Limited, demonstrating the company's commitment to shareholder value and disciplined capital allocation.

Q3FY26 Financial Performance Highlights

The conference call revealed impressive consolidated financial results with significant quarter-on-quarter improvements. The company reported consolidated net profit rising 83.5% quarter-on-quarter, with EBITDA margins expanding sharply to 48.3% from 34.5% in the previous quarter. Other income jumped to ₹70.4 crore in Q3 compared to ₹26 crore in Q2, primarily due to foreign currency fluctuations.

Operational Performance and Business Segments

The energy division demonstrated robust performance with MEL achieving 97% Plant Load Factor (PLF) during Q3FY26. The mining division showed strong momentum with monthly sales averaging 35,000 to 42,000 tons, which management confirmed as sustainable. The ferro alloys segment experienced pricing improvements of approximately 8% from Q3 to Q4, though profitability remained challenging.

Major Project Developments and Capital Expenditure

The management provided detailed updates on ongoing expansion projects, including the 300 MW MEL Phase II thermal expansion with a total capex of $400 million and the 100 MW solar project requiring $90 million investment. As of December 31, 2025, approximately $190 million had been spent on the thermal plant and $10 million on the solar project, with debt-equity ratio maintained at 70:30.

Future Revenue Projections and Strategic Outlook

Management shared revenue expectations for the new projects, with the 300 MW thermal plant expected to generate $180-200 million annually and the 100 MW solar project contributing $15-16 million per year at full operations from FY28. The company maintains outstanding receivables of $30.5 million from Maamba Energy while continuing to explore additional renewable energy opportunities in Zambia and lithium exploration in Ivory Coast.