Un-audited Financial Results for the quarter ended June 30, 2025.
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Shiva Cement Ltd reported revenue from operations of Rs 10,560.79 lakhs for Q1 FY26, up about 9.3% from Rs 9,660.93 lakhs in Q1 FY25. However, the company posted a net loss of Rs 3,027.55 lakhs, wider than the Rs 2,165.18 lakh loss a year ago, driven by high finance costs of Rs 3,029.69 lakhs and depreciation of Rs 988.03 lakhs. Accumulated losses now stand at Rs 46,417.74 lakhs, prompting the auditor to flag a going concern reference. The company also announced a shift of its registered office from Odisha to JSW Centre in Mumbai, and disclosed an ongoing legal matter with Bhushan Power & Steel Ltd (BPSL) after the Supreme Court directed liquidation of BPSL.
Continued losses and eroding equity (other equity down to Rs 4,436 lakhs against share capital of Rs 5,900 lakhs) keep the stock under pressure, though revenue growth and the BPSL grinding unit opportunity could support a turnaround if executed. Shareholders should watch for resolution of the BPSL matter and any further capital support from parent JSW.