Nava Bharat Ventures – reports all-round record performance for Q4 & FY22

Registers robust growth of 143% YoY in Standalone profit before tax, the highest since inception

Declares dividend of 300% being Rs. 6.00 per equity share, reserving Rs. 87.06 crore for distribution, the highest since inception

HYDERABAD, India, May 16, 2022 /PRNewswire/ — Nava Bharat Ventures Limited (NBVL), with diversified businesses in metals, energy, mining, healthcare and commercial agriculture, announced its financial results for the fourth quarter and year ending 31st March 2022.

The Company reported robust growth in its standalone operations during FY22, backed by solid traction in manganese alloy business in both export and domestic markets. Ferrochrome conversion continued its stable performance and provided stability in the overall earnings. The power division has witnessed a remarkable improvement, backed by the resumption of its two IPPs, Odisha (60MW) and NBEIL (150MW).

The Company has won the legal case concerning its urban land bank in eastern Hyderabad, further paving the way for the monetisation of this asset.

Financial Performance – Standalone Operations FY22

Q4 FY22 Financial Performance – Standalone

Particulars
(in INR Mn)

Q4 FY22

Q4 FY21

YoY%

FY22

FY21

YoY%

Revenue #

5,024

3,885

29.3%

17,564

10,672

64.6%

EBITDA#$

1,921

1,126

70.6%

6,402

2,869

123.2%

EBITDA Margin %

38.2%

29.0%

36.4%

26.9%

PBT

1,878

943

99.2%

5754

2364

143.4%

PAT

1,292

622

107.6%

3819

1546

147.0%

# Revenue and EBITDA exclude discontinued operations.
$EBITDA is before exceptional items. 

  Financial Performance – Consolidated Operations – Q4 FY22

       Q4 FY22 Financial Performance – Consolidated

Particulars
(in INR Mn)

Q4 FY22

Q4 FY21

YoY%

FY22

FY21

YoY%

Revenue#

11,393

7,962

43.1%

36,454

27,975

30.3%

EBITDA#$

5,256

3,677

42.9%

16,166

13,183

22.6%

EBITDA Margin %

46.1%

46.2%

44.3%

47.2%

Adjusted EBITDA *

5,080

3,043

66.9%

17,376

14,382

20.8%

 Adj EBITDA %

44.6%

50.5%

47.7%

51.4%

PAT

3,597

1,594

125.6%

5,733

5,507

4.1%

     Exchange rate USD= INR 75.23 as on March 2022;
     # Revenue and EBITDA exclude discontinued operations
     $EBITDA is before exceptional items.
     *Adjusted for Forex and MTM (loss)/gain on account of Interest rate swaps (IRS), Provision for expected credit loss, and interest income of outstanding receivables –

MCL – Operational and Financial Performance

Particulars

Q4 FY22

Q4 FY21

YoY%

FY22

FY21

YoY%

Power generation (Mn kwh)

590

350

68.8%

1,735

1,896

(8.5%)

Average PLF (%)

91.2%

53.9%

66.0%

72.1%

External Coal Sales

1,16,964

1,08,633

7.7%

5,01,976

3,75,412

33.7%

Total Revenue (USD Mn)

84

55

53%

245

240

2%

EBITDA (USD Mn)

51

31

66%

114

134

(15%)

EBITDA Margin

61.2%

56.1%

46.3%

55.9%

Adjusted EBITDA*

48

26

85%

131

150

(13%)

PAT (USD Mn)

33

10

231%

22

49

(55%)

*Adjusted for Forex and MTM (loss)/gain on account of Interest rate swaps (IRS), Provision for expected credit loss and interest income of outstanding receivables.

Period

Billed

Realised

Realised %

July 2016 to March 2022 (USD Mn)

1,265

701

55%

Particulars (INR Mn)

Overall Debt

Cash & bank balances

31.03.2022

31.03.24021

31.0344.2022

31.03.2021

Standalone

1,928

1,747

4,797

1,741

Consolidated

33,597

35,599

8,253

6,436

Quantitative Table of Operational data (Sales Qty)

Q4 FY 22

Q4 FY21

YoY

FY22

FY21

YoY

Ferro Alloys (MT) 

Silico Manganese

24,634

33,392

(26.2%)

1,04,667

95,711

9.4%

Ferro Chrome

15,921

14,861

7.1%

65,981

57,109

15.5%

Power (Mn units)

Merchant sales

185

114

62.5%

603

176

243.2%

Captive

167

175

(4.6%)

713

648

10.0%

NBEIL

111

11

N.A

434

11

N.A

Mr. Ashwin Devineni, the CEO of the Company, commented on the results, saying, “It is particularly gratifying to be celebrating the Golden Jubilee when the future for our business looks so promising. Our FY22 performance is a testimony of our 50 years of continued efforts. The Company’s Standalone operations have been the pillars of growth and sustainability. The Company’s Standalone operations have been performing well with an all-around improvement. Company Ferro Alloys and Power divisions reported a strong performance despite a challenging macro environment in terms of geopolitical concerns, raw material inflation etc. On the International operations front, Zambian power operations remained stable with continued improvement in merchant coal sales. Management foresees a robust demand for energy in Southern Africa and plans on taking strategic decisions to capitalise on the opportunity. We are also happy to share that our monetisation plans of idle assets are progressing well especially concerning the urban land parcel in eastern Hyderabad. The legal hurdle regarding the land is behind us, the Company is exploring the best possible options to maximise the returns on it. The Company has declared a dividend of INR 6.00 per share, i.e. 300% for FY22, and further continues to explore more opportunities to enhance shareholder value further.”

About Nava Bharat Ventures Limited: 

Nava Bharat Ventures Limited is a diversified organisation with business interests in metals, energy, mining, healthcare and commercial agriculture. Nava Bharat is one of the leading Ferroalloy producers in India, with about 200,000 MT capacities. The Group has a total installed power generation capacity of 434MW in Telangana, Andhra Pradesh and Odisha in India. Nava Bharat owns and operates an integrated mine to mouth 300 MW thermal power plant in Zambia, held through its step-down subsidiary Maamba Collieries Limited. For more information about the Company and its businesses, please visit us at www.nbventures.com.

Safe Harbour: This document may contain forward-looking statements about the Company & its subsidiaries, which are based on the beliefs, opinions and expectations of the Company’s management as of the date of this press release and the Company doesn’t assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

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