SHIVA CEMENT LTD.

Makes clinker and cement at facilities in Odisha and recently commissioned a 1 MTPA grinding unit at Sambalpur, taking clinker capacity to 1.32 MTPA. Plant utilisation ran around 93% in FY26 with clinker output up over 30% YoY. Cement operations drove FY26 revenue from operations of Rs 43,516.77 lakhs, up 39.8% from the prior year, though the company stayed loss-making with a net loss of Rs 12,553.25 lakhs and accumulated losses of Rs 55,918.60 lakhs. In July 2026 it received Consent to Operate for the Khatkurbahal (North) Block limestone and dolomite mine, allowing merchant sale of dolomite at 2.4 million tonnes per annum from a mineable resource of 48.27 MT (89.09 MT total). Cost structure is dominated by other operating expenses at 62.6% of revenue, materials at 26%, depreciation at 9.6% and employee costs at 6.3%, with capex at 54.3% of revenue reflecting the grinding unit build-out.