Audited Standalone Financial results of Shiva Cement Limited for the Quarter and Year ended 31st March, 2026.
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Shiva Cement reported revenue from operations of Rs 43,516.77 lakhs for FY26, a significant increase of 39.8% from Rs 31,117.22 lakhs in FY25. However, the company continued to incur substantial losses with net loss of Rs 12,553.25 lakhs for FY26, though improved from Rs 14,247.68 lakhs loss in FY25. The company has accumulated losses of Rs 55,918.60 lakhs resulting in negative equity of Rs 2,195.44 lakhs as of March 31, 2026. The auditors from Shah Gupta & Co. issued an unmodified opinion but highlighted a material uncertainty regarding the going concern assumption due to continuous losses. An exceptional item of Rs 186.04 lakhs was recognized due to new Labour Codes implementation. Deferred tax assets of Rs 526.71 lakhs were reversed as per updated business projections.
The strong revenue growth is positive but overshadowed by persistent large losses and negative equity. The auditor's going concern flag is a significant red flag for investors, indicating the company's ability to continue operations depends on successful implementation of its future business plan. Shareholders should monitor the company's ability to turn profitable given the challenging financial position.