Outcome of the Board Meeting dated 18th July 2025.
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The Board of Shiva Cement approved unaudited financial results for the quarter ended 30 June 2025. Revenue from operations rose to Rs 10,560.79 lakhs from Rs 9,660.93 lakhs in the same quarter last year, about 9% growth. However, the net loss widened to Rs 3,027.55 lakhs from Rs 2,165.18 lakhs a year ago, with finance costs alone at Rs 3,029.69 lakhs. Accumulated losses now stand at Rs 46,417.74 lakhs. The statutory auditor Shah Gupta & Co. drew attention to the going concern basis but did not qualify their opinion. The Board also approved shifting the registered office from Sundergarh, Odisha to the JSW Centre in Bandra Kurla Complex, Mumbai, subject to shareholder and regulatory approvals.
Continued losses and accumulated deficit of over Rs 46 crore raise going concern flags, though management cites improving plant performance and new strategies. The registered office move to Mumbai signals deeper integration with parent JSW group operations, which could aid turnaround. Shareholders should watch for improvement in operational margins and reduction in finance costs in coming quarters.