NA VA BHARA T VENTURES LIMITED NA VA BIIARAT CHAMBERS, RA.J BIIA VAN ROAD, IIYDERABAD-S00082, TELANGANA, INDIA

NAVA BHARAT

NBV/SECTL/588 /2019-20 October 3 I, 2019

Listing Department National Stock Exchange of India Limited Exchange Plaza, 5111 Floor, Plot No.C/1, G Block Bandra Kurla Complex, Bandra (E) MUMBAI - 400 051 NSE Symbol : 'NBVENTURES'

Dept. of Corp. Services BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street MUMBAI - 400 00 1

Scrip Code: '513023' I 'NBVENTURES'

Dear Sir,

Sub: Press Release Unaudited Financial Results September 30, 2019. --oOo--

Please find enclosed the press release in connection with announcement of Unaudited Financial Results (Standalone and Consolidated) for the second quarter and half-year ended September 30, 2019.

Kindly take the same on record and acknowledge the receipt.

Thanking you,

Yours faithfully, for Nava Bharat Ventures Ltd.,

VSN Raju Company Secretary & Vice President

Encl: as above

Nava Bharat Ventures Reports Financial Performance for 02 & Hl FY20

Hyderabad, India, October 31, 2019: Nava Bhara1 Ventures Ltd, a diversified organisation with interests in power generation, ferro alloys, sugar and coal mining, announced its financial results for the second quarter and half-year ended September 30, 2019.

Financial Performance- Consolidated Opet·ations- 02 & H1 FY 20

• Reduction of long-term debt at the Zambian Subsidiary as well as in the Company was as envisaged.
• Revenue from Operations stood at INR I 4,809 Mn considered par vis-a-vis HI FYI 9 notwithstanding the sectoral challenges.
• EBITDA for HI FY20 declined by 9.4% YoY, majorly on account of MTM provision differential on interest rate swaps (a notional charge). Specifically, in Q2 FY20, decline in EBIDT A was due to lower availability of the Zambian power plant and provision for expected credit loss against receivables (a notional charge).

Q2 & H1 FY20 Financial Pe..Cormance- Consolidated

Exchange rate USD= INR 69.96

*Othet· expenses include MTM (loss)/gain on account of Interest rate swaps (IRS) - 02FY20: INR 247.8 Mn; 02FY19: INR 145.1 Mn; H1FY20: (INR 126.2 Mn1;.H1FY19: INR 239.6 Mn

Financial Performance- Standalone Operations- 02 & H1 FY 20

• Manganese Alloys suffered the brunt of subdued steel demand, while ferro chrome conversion operations suffered forbearance marginally during the quatier.
• Standalone power operations reported a steady performance in HI FY20 though margins got impacted due to poor quality of coal and higher maintenance costs.

Q2 & H1 FY20 Financial Performance - Standalone

*Other expenses include MTM (loss)/gain on account of Intet·est rate swaps (IRS) - 02FY20: INR 36.3 Mn; 02FY19: (INR 1.9 Mn); HlFY20: INR 75.8 Mn; HlFY19: INR 82.8 Mn

Quantitative Table of Operational data (sales in Qty)

About Nava Bharat Ventures Limited:

Nava Bharat Ventures Limited is a power focused company with interests in Ferro alloys and sugar. The Group has total installed power generation capacity of 442MW in Telangana, AP and Odisha. Nava Bharat is one of the leading Ferro alloy producers in India with about 125,000 MT of Manganese and about 75,000 MT of Chrome Alloy capacities. Nava Bharat also undertakes production of sugar and allied products in its 4,000 TCD integrated plant. Nava Bharat has investments and operations through subsidiaries in India, Zambia, Singapore and Malaysia. For more information about the Company and its businesses, please visit us at ~}VW"Jlb..vcntQres_,y_Q.!E

For more information, contact

Safe Harbour: This document may contain forward-looking statements about the company & its subsidiaries, which are based on the beliefs, opinions and expectations ofthe company's management as the date of this press release and the companies do not assume any obligation to update their 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.

Financial Pedom1ance- Nava Bharat Energy India Limited (NBEIL-150 MW)-Q2&H1 FY 20

• The 150 MW Unit performance was distinctly better in HI FY20 notwithstanding maintenance outages for about 37 days and severe back downs imposed by the Grid.

Q2 & H1 FY20 Financial Performance- NBEIL (150MW)

Financial Performance- MCL- 02 & Hl FY20

• Revenue from Operations remained stable at USD 111 Mn during HI FY20, though lower plant availability did impact the revenue in Q2 FY20
• Average PLF for H 1 FY20 improved to 80%
• EBITDA saw a decline of 13% to USD 70 Mn in H 1 FY20; primarily on account of differential mark to market provision on interest rate swaps (a notional charge) and higher mining cost associated with a new pit
• MCL continues to be on track with its debt servicing, with the debt repayment of ~USD 29.5 Mn in October 2019. Post, this repayment, the long-term debt stands at US\$ 414 Million.

Maamba Collieries Q2 & H1FY20

MCL Receivables Realised (USD Mn)

Cash and debt position as on September 30, 2019 (INR Mn)