Nava Limited Shares Rose Over 2% After Announcement of Stock Split of 1:2

Nava Ltd, a ferro-alloy manufacturer, has received shareholder approval for a stock split, which will divide each equity share of ₹2 face value into two shares of ₹1 face value. This approval was obtained through a postal ballot process that concluded on December 21, 2024, as confirmed in an exchange filing.

Background of the Stock Split Proposal

The company’s board first proposed the stock split during a meeting in November 2024, in conjunction with the announcement of its September quarter results. The primary objective behind this move is to increase trading liquidity and make the company’s shares more affordable to a broader base of investors.

Nava Ltd Q2 FY25 Financial Results

For the September quarter, Nava Ltd reported a net profit of ₹251.08 crore, a substantial 69.33% increase from ₹148.28 crore in the same period last year. The company’s EBITDA for the quarter stood at ₹456.15 crore, marking a 14.35% rise from ₹398.92 crore in the previous year. Additionally, earnings per share (EPS) increased to ₹17.30, up from ₹10.20 on a year-on-year basis.

Nava Ltd Shareholding

According to the September quarter shareholding data, the promoters hold a 48.85% stake in Nava Ltd, reflecting their significant ownership in the company. As part of the stock split, the company will also revise its authorised share capital. The revised share capital will be divided into 50 crore equity shares, each with a face value of ₹1.

About Nava Ltd

Nava Ltd is an Indian ferro alloys manufacturer, operating in India, South East Asia and Africa with businesses in metals manufacturing, power, mining, agribusiness and healthcare. The company owns Ferro Alloy facilities which are situated in Paloncha (Telangana) and Kharagprasad (Odisha).

On December 24, 2024, Nava Limited shares opened at ₹985.35 and touched the day-high of ₹1,001.55 at 09:30 AM

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