reports
Nava Ltd: 2 directors
Two Directors at Nava Ltd bought 45,500 shares at between 899.666INR and 909.508INR. The significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the las...
- Shirish Rane
Nava Bharat Ventures' Q3FY20 results (Outperformer) - Tariff hike to ...
Q3FY20 result highlights Maamba power plant reported a PLF of 55% (vs 85% in Q3FY19) and a plant availability factor of 55% (vs 88% in Q3FY19). The decline in plant performance was primarily on account of major maintenance undertaken in Dec’19. As a result, Maamba Collieries Limited (MCL – SPV operating the power plant) reported a revenue of USD42m (-30% yoy) and a PAT of USD4m (-57% yoy) The receivable outstanding from Zambia DISCOM is USD232m at the end of December 2019. Zambian regulator...
- Shirish Rane
Nava Bharat Ventures' Q2FY20 results (Outperformer) - Delay in liquida...
Q2FY20 result highlights PLF of Mamamba power plant was 79% in Q2FY20 (vs 74% in Q2FY19) while plant availability was 80% (vs 97% in Q2FY19). Sales of Maamba Collieries Limited (MCL – SPV operating the power plant) declined by 9.3% yoy to USD54m led by lower availability (PAF) of the power plant. EBITDA declined sharply by 23%yoy to USD36m, owing to lower PAF and provision of notional expected credit loss of USD5.8m against receivables. As a result, Maamba reported a profit of USD13m (vs US...
- Shirish Rane
Nava Bharat Ventures' Q1FY20 results (Outperformer) - Another steady q...
Q1FY20 result highlights Maamba power plant operated at PLF of 81% in Q1FY20 (69% in Q1FY19) and PAF of 81% (vs normative PAF of 80%). As a result, Maamba reported sales of USD57m and adjusted profit of USD17m in Q1FY20 (vs USD11m). Reported profit was USD11m owing to MTM losses booked on interest rate swap. Maamba power plant is operating at full availability since Jan 201 8. Maamba receivables have risen to USD194m at end of June 2019. The receivables are likely to be paid once the Govern...
- Shirish Rane
Nava Bharat Ventures' Q4FY19 results (Outperformer) - Maamba - A good...
Q4FY19 result highlights Maama Power plant PAF/PLF for Q4FY19 was 77%/72% while PAF/PLF for FY19 was 87%/75%, improvement of 1750/1250 bps yoy. As a result, Maamba power operation reported sales/Adjusted PAT of USD51m/USD7.8m in Q4FY19 and sales/adjusted PAT of USD222m/USD50m (vs USD123m/USD18m). Profit has been adjusted for notional loss in MTM interest rate swap in Q4FY19/FY19 of USD4.5/5.8m. Note that power plant is being operated by Maamba Collieries Ltd (MCL). NBVL has 65% stake in MC...
- Shirish Rane
Nava Bharat Ventures' Q3FY19 results (Outperformer) - Liquidation of r...
Q3FY19 result highlights Maamba power plant operated at a PLF of 85%/75% and availability of 88%/90% in Q3FY19/9mFY19 (vs normative of 80% and PAF of 47% in Q3FY19). As a result, Maamba reported sales of USD60m and adjusted profit of USD10m in Q3FY19. MCL, the operating subsidiary, has provided for deferred tax of USD13m in Q3FY19. We estimate Maamba is meeting 15% of the Zambian power requirements. Maamba receivables increased to USD169m. The current cash flow is sufficient to meet debt r...
- Shirish Rane
Nava Bharat Ventures' Q1FY19 results (Outperformer) - Second consecut...
Q1FY19 result highlights Maamba power plant operated at availability of 86% in Q1FY19 (vs normative of 80%). As a result, Maamba reported sales of USD54m and adjusted profit of USD17m in Q1FY19. Reported profit was USD13m owing to notional credit loss booked in Q1FY19 pertaining to receivables (INDAS accounting). Maamba power plant is operating at full availability since Jan 2018. Maamba receivables have risen to USD116m at end of June 2018. The receivables are likely to be paid once the Go...
- Shirish Rane
Nava Bharat Ventures' Q4FY18 results (Outperformer) - Strong quarter;...
Q4FY18 result highlights Maamba power plant operated at higher than normative availability of 80% in Q4FY18, the first quarter since the power plant became operational. As a result, Maamba power operation reported sales of USD60m and profit of USD15m in Q4FY18 and US$18mn in FY18. Maamba power plant is operating at full availability since Jan 2018. NBEIL, operating coal based power plant of 150MW, reported a PLF of 73%/60% in Q4FY18/FY18 (vs 70%/51% in Q4FY17/FY17), led by power being sold ...
- Shirish Rane
Nava Bharat Ventures' Q3FY18 results (Outperformer) - Maamba operatin...
Q3FY18 result highlights During Q3FY18, one unit of Maamba power plant was shut on account of plant maintenance undertaken by the company (as grid to evacuate 300MW was likely to be ready by December 17). As a result, availability and PLF for power plants was 53%. As a result, Maamba power operation reported a loss. The Maamba power plant is operating at full availability from January 2018. NBEIL, operating coal based power plant of 150MW, reported a PLF of 63% (vs 54% in Q3FY17), an improv...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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