Analysts/Institutional Investor Meet/Con. Call Updates

NAVA LIMITED NAVA/SECTL/161/2026-27 August 19, 2026 Listing Department Dept. of Corp. Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No.C/1, G Block Dalal Street Bandra Kurla Complex, Bandra (E) MUMBAI – 400 001 MUMBAI – 400 051 NSE Symbol: ‘NAVA’ Scrip Code: ‘513023’ / ‘NAVA’ Dear Sir/ Madam, Sub: Transcript of Conference Call. Ref: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Transcript of the Conference call with investors. --o0o-- Please find enclosed the transcript of the analyst/ investor conference call (i.e. group meet) held on August 14, 2026 on the operational and financial performance of the Company for the first quarter ended June 30, 2026. This is also available on the Company’s website at https://www.navalimited.com/investors/financials/investor-conference-call/ Kindly take the same on record and acknowledge the receipt. Thanking you, Yours faithfully, for NAVA LIMITED VSN Raju Company Secretary & Vice President Encl: as above. Regd. Off.: Nava Bharat Chambers, 6-3-1109/1, 3rd Floor, Raj Bhavan Road, Somajiguda, Hyderabad - 500 082, Telangana, India. CIN: L27101TG1972PLC001549 T +91 40 40345999, +91 40 23403501 E nava@navalimited.com; investorservices@navalimited.com W www.navalimited.com ISO 9001 | ISO 14001 | ISO 45001 | ISO 50001 “Nava Limited Q1 FY27 Earnings Conference Call” August 14, 2026 MANAGEMENT: MR. ASHWIN DEVINENI – MD & CEO MR. GRK PRASAD - EXECUTIVE DIRECTOR MR. NIKHIL DEVINENI – EXECUTIVE DIRECTOR MR. B. SRINIVAS RAO – CHIEF FINANCIAL OFFICER MR. VSN RAJU -- COMPANY SECRETARY MODERATOR: MR. SHUBHAM BORADE – ICICI SECURITIES LIMITED Page 1 of 11 Nava Limited August 14, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Nava Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Shubham Borade. Thank you, and over to you. Shubham Borade: Thank you, Ananya. Good afternoon to all. On behalf of ICICI Securities, I welcome you all to the Q1 FY27 Earnings Call of Nava Limited. Today, we have with us from the management, Mr. Ashwin Devineni, Managing Director and CEO; Mr. GRK Prasad, Executive Director; Mr. Nikhil Devineni, Executive Director; Mr. B. Srinivas Rao, CFO; and Mr. VSN Raju, Company Secretary. We will begin with the opening remarks from the management, which will be followed by a Q&A. Thank you, and over to you, sir. Ashwin Devineni: Thank you. Good afternoon, everyone, and thank you for joining us. I am pleased to share Nava's performance for the first quarter of FY27. We have started the year on a strong note with consolidated total income reaching an all-time quarterly high of INR1,269 crores. The quarter reflects the strength of our diversified portfolio and the benefits of disciplined cost management. Our Energy and Mining business delivered healthy operating performance with MEL's 300- megawatt plant operating at a strong 89.3 PLF. Our international foray also continued to provide value through dividend flows and to attain financial strength to pursue investments. At the stand- alone level, the total income reached a record INR 689 crores. Lower coal and manufacturing costs, along with dividend income from Nava Global supported this improvement. We continue to make measured progress on our next phase of growth in the energy and commercial agriculture segment. Our thermal energy, renewable energy, avocado and sugar projects in Zambia are in active implementation and some are set to yield revenue shortly. Phase 2 of MEL is expected to commence operations next year, later than originally envisaged owing to certain challenges beyond our control with no material impact on project capex. It is, however, heartening that the 100-megawatt solar power project set to be commissioned shortly would establish a new niche for Nava prompting further investments in this space. We are cognizant of the significant challenges arising from the geopolitical and supply chain disruptions and are taking appropriate remedial actions. Our diversified portfolio, financial strength and operational resilience should however, position us well to navigate these challenges while remaining focused on long-term value creation. With that, I open the call for question. Moderator: The first question is from the line of Vansh, an individual investor. Page 2 of 11 Nava Limited August 14, 2026 Vansh: Yes, so first of all, congratulations on a good set of numbers. My question is, what is the update on the new expansion for the Mamba plant and when will it start commissioning and what is the potential revenue impact that you can expect from FY27 onwards from the new plant? Ashwin Devineni: Yes, in terms of the phase 2 expansion, when you talk about new plant, I presume you are talking about the thermal plant or the solar plant? Vansh: Yes, I am talking about the thermal plant. Solar plant, as you have said, is starting by next month, right? Ashwin Devineni: Yes, solar plant is set to be commissioned by the end of September. With regards to the phase 2 thermal, I also mentioned in my opening remarks, due to the current conflict that is going on in the world, we had experienced certain logistical delays with shipment of some critical material and equipment. So, what that has done is it has moved the commissioning by a couple of months to probably Q2 of FY27-28. We are looking around the June-July timeframe. Vansh: So, previously it was like Jan and Feb of FY27, so you are telling it has been postponed by 4-5 months, right? Ashwin Devineni: Yes, it gets done in phases. So, what I am talking about is the complete commissioning of both the units. So, you probably would have the first unit being commissioned slightly earlier, and then the second unit would complete its commissioning by Q2 of FY27-28. Vansh: So, FY27-28 Q2, the plant will be completely stabilized or it will start get stabilizing? Ashwin Devineni: It will be stabilized. It will be pumping power into the grid. Vansh: And what is the revenue that we will be looking from that plant? B. Srinivasa Rao: From MEL phase 2, we will get around INR200 million of revenue. Vansh: And what is the margin that we are looking on that plant? Ashwin Devineni: Right now, I don't think we want to talk about the margins. The cost will come into control once we start commissioning. We have a fairly attractive tariff. So, we are confident that we would have a healthy margin. Vansh: Fine. And what is the debt profile that you are looking for the expansion, debt and equity mix? Ashwin Devineni: So, right now, the debt profile does not change. Basically, the project cost is INR400 million, out of which INR300 million is debt and INR100 is equity. So, that remains constant. Vansh: Okay. Fine. And the dividend policy is the same, right? That 30% PAT of the company will be given as dividend? Ashwin Devineni: Yes. That is the policy of Nava Global at a minimum of 30%. Page 3 of 11 Nava Limited August 14, 2026 Vansh: Okay. Makes sense. And my one more question is like the sugar plant that we are doing, by when will it get commissioned and what are the revenues that are we looking? Nikhil Devineni: Sugar plant, we're looking at commissioning in Q4 of 2028, FY28. Vansh: Q4 of FY28, right? Okay. And the revenues that we'll be looking? B. Srinivasa Rao: INR55 to INR60 million per annum. Vansh: Okay. Yeah, that's it. And all the best for the future endeavors of the company and may you reward all the shareholders. Management: Thank you. Moderator: Thank you. The next question is from the line of GS Rao, an [Showing first 8,000 characters — download PDF for full document]