Nava Limited Seeks Shareholder Approval for Ashwin Devineni's Re-designation as Vice Chairman of Singapore Subsidiary

Nava Limited , a prominent Indian company, has initiated a postal ballot process to seek shareholder approval for the re-designation of Ashwin Devineni as Vice Chairman of its wholly-owned Singapore subsidiary, Nava Global Pte. Ltd. (NGPL). This strategic move, set to take effect from November 8, 2025, marks a significant shift in the company's global leadership structure.

Key Details of the Re-designation

Current Position: Ashwin Devineni is presently the Managing Director of both Nava Limited and NGPL.
New Role: Director & Vice Chairman of NGPL (designated as Vice Chairman).
Effective Date: November 8, 2025.
Term: Until March 31, 2029.

Remuneration and Terms

The re-designation comes with no changes to Mr. Devineni's existing remuneration package, which includes:

Component	Details
Annual Salary	USD 2,203,235.00 (net of taxes)
Additional Benefits	Reimbursement of medical insurance premium for self and family
Commission	5% of NGPL's profits

Rationale for the Change

The re-designation reflects a strategic shift in Mr. Devineni's role:

Transition from operational management to strategic oversight.
Focus on long-term strategic guidance for NGPL.
Emphasis on governance and policy formulation for the subsidiary.
Support and guidance for the senior leadership team, including the acting CEO & CFO and COO.

Shareholder Approval Process

Nava Limited has initiated a postal ballot for this re-designation:

E-voting Period: November 15 to December 14, 2025.
Result Declaration: Expected by December 16, 2025.

Corporate Governance Implications

This move is considered a related party transaction under Section 188 of the Companies Act, 2013, as Mr. Devineni is a key managerial person of Nava Limited and related to other board members. The re-designation has been reviewed and recommended by the Nomination and Remuneration Committee and approved by the Audit Committee and the Board of Nava Limited.

Company's Perspective

Nava Limited views this re-designation as a step towards strengthening its global governance framework and aligning management hierarchy with future growth and succession planning. The company expects this change to enhance strategic oversight of its international businesses.

Shareholders will play a crucial role in this corporate action, with their votes determining the approval of this significant leadership transition in Nava Limited's global operations.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.20%	-4.16%	-9.76%	+18.13%	+22.42%	+2,068.38%

Nava Limited , a diversified company with interests in ferro alloys, energy, and mining, has announced a significant employee incentive program alongside its robust financial results for the second quarter of fiscal year 2025-26.

RSU Grant Details

The company's Nomination and Remuneration Committee has approved the grant of 2,80,000 Restricted Stock Units (RSUs) to eligible employees under the NAVA-RESTRICTED STOCK UNIT PLAN 2023. Key features of the RSU grant include:

Each RSU entitles the holder to one equity share of Re. 1 face value.
The exercise price is set at Rs. 476.28 per RSU.
Vesting will occur over four years starting November 2026, with the following schedule:
- 20% in each of the first two years
- 25% in the third year
- 35% in the fourth year
All RSUs have a minimum vesting period of one year and must be exercised within 90 days of vesting.

Q2 Financial Highlights

Nava Limited has reported strong financial performance for the quarter ended September 30, 2025:

Consolidated revenue from operations stood at Rs. 96,373.33 lakhs.
Profit before tax from continuing operations was Rs. 24,419.36 lakhs.
Net profit attributable to shareholders of the holding company reached Rs. 12,949.41 lakhs.

The company's performance across its business segments for the half-year ended September 30, 2025, is as follows:

Segment	Revenue (Rs. lakhs)	Results (Rs. lakhs)
Ferro Alloys	56,828.33	1,642.02
Energy	1,92,203.27	76,427.73
Mining	23,878.75	4,590.05

Dividend Declaration

The Board of Directors has declared an interim dividend of Rs. 3 per equity share (300%) with a face value of Re. 1 each. The record date for this dividend is set for November 14, 2025.

Management Changes

The company also announced that Mr. Ashwin Devineni has been re-designated as Vice-Chairman of Nava Global Pte. Limited (NGPL), a wholly-owned subsidiary of Nava Ltd, effective November 8, 2025. This change is subject to shareholder approval and is part of a strategic move for Mr. Devineni to oversee the group's downstream overseas investments.

Nava Limited's combination of employee incentives, strong financial performance, and strategic management changes indicates the company's focus on long-term growth and shareholder value.