Pursuant to Regulations 30 and 33 of Listing Regulations read with Para A of Part A of Schedule III of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) ....
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Awaiting price reaction for this filing.
Shiva Cement's Board approved unaudited results for Q2 FY26 (ended Sep 30, 2025) on October 27, 2025. Revenue from operations rose sharply to Rs 8,211 lakh in Q2 (vs Rs 5,053 lakh in Q2 last year), with H1 revenue up ~28% at Rs 18,772 lakh. However, the company reported a net loss of Rs 6,300 lakh for H1 FY26, slightly wider than the Rs 5,526 lakh loss in H1 FY25. The auditor (Shah Gupta & Co.) drew attention to accumulated losses of Rs 49,677 lakh but did not qualify their review report; management cited expected performance improvement for preparing accounts on a going concern basis. Total borrowings of ~Rs 160,186 lakh against equity of just Rs 4,046 lakh highlight a very high debt burden.
Strong top-line growth is positive, but persistent losses, massive accumulated deficit, and an extremely stretched debt-to-equity ratio (~40x) keep stock sentiment cautious. The auditor's going concern reference signals underlying financial stress, even though the review opinion remains unqualified.