The Board of Directors of the Shiva Cement Limited at its meeting held today i.e January 29, 2026 approved Unaudited Financial results for the quarter ended December 31, 2025
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Shiva Cement's board, at its January 29, 2026 meeting, approved unaudited results for Q3 FY26 (quarter ended Dec 31, 2025). Revenue from operations jumped sharply to Rs. 12,608.58 lakhs, up from Rs. 8,211.19 lakhs in the previous quarter and Rs. 5,768.94 lakhs in Q3 FY25 — roughly doubling year-on-year. For the nine months ended Dec 31, 2025, revenue rose to Rs. 31,380.67 lakhs versus Rs. 20,483.25 lakhs a year earlier, a ~53% increase. Despite strong revenue growth, the company posted a net loss of Rs. 3,389.65 lakhs for the quarter (Q3 FY25 loss was Rs. 3,399.92 lakhs) and Rs. 9,690.14 lakhs for nine months. Accumulated losses now stand at Rs. 53,062.31 lakhs. The auditor flagged this as an emphasis-of-matter (going concern) but did not qualify the opinion. An exceptional item of Rs. 167.32 lakhs was booked for Labour Code-related employee benefit changes. The board also approved shifting the registered office from Odisha to Mumbai.
Strong revenue growth signals operational ramp-up, but persistent heavy losses and large accumulated losses keep the stock a high-risk play. The auditor's emphasis on going concern is a yellow flag, though the unqualified opinion provides some comfort. The Mumbai office shift suggests group-level restructuring.