Hyderabad-based Nava Ltd announced on Friday, September 4, that it will temporarily shut down one of its 60 MW independent power producer (IPP) units in Odisha from September 6, 2026, for routine inspection, maintenance and overhauling activities. According to reports from CNBC TV18, the shutdown is expected to continue for about 55 to 60 days and has been planned in accordance with recommendations from the original equipment manufacturer (OEM) and prevailing industry practices. The company made this announcement through a stock exchange filing.
As reported by CNBC TV18, the shutdown has been scheduled during a period of relatively lower thermal power production requirements due to greater availability of hydel power and consequent lower tariffs. Nava's energy operations in Odisha comprise three generating units with an aggregate capacity of 150 MW, including two 60 MW IPP units and one 30 MW captive power producer (CPP) unit. The company stated it does not expect any material adverse impact on its business operations or overall performance due to the shutdown.
According to reports from CNBC TV18, earlier on August 14, the firm had reported an 11% year-on-year decline in net profit to ₹277.2 crore for the quarter ended June 30, 2026, compared with ₹308.03 crore in the corresponding quarter last year. However, the company's consolidated revenue from operations edged up 1.56% year-on-year to ₹1,211.80 crore from ₹1,193.22 crore. EBITDA declined 10.5% to ₹526.5 crore from ₹588.3 crore, while the EBITDA margin narrowed to 43.5% from 49.3% a year earlier. Nava Ltd shares closed 0.57% higher at ₹560.35 on September 4.
As reported by CNBC TV18, the company stated it will inform the stock exchanges of any material developments and will intimate them upon resumption of operations. The planned maintenance activities are part of standard industry practices to ensure optimal operational efficiency and equipment longevity.
