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NSE:SHIVACEM

SHIVA CEMENT LTD.

Construction Materials › Cement & Cement Products
₹12.84
at close · 28 Oct 2026
▲ 0.19 (+1.50%)

Latest filings

  1. Revenue rises, but large losses and operating uncertainty persist · Board & Shareholder Meetings
  2. September 2026 results: higher sales, lower losses and continuity risk · Results
  3. Board meeting on Oct 23 to consider Q2 and H1 FY26 results · Board & Shareholder Meetings
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

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.

Operating scale
Clinker capacity
1.32 MTPAFY26
Cement grinding capacity
1 MTPA (Sambalpur unit)FY26
Dolomite mining capacity
2.4 million tonnes per annumFY27 (post-consent)
Dolomite mineable resource
48.27 MT (89.09 MT total)
Waste Heat Recovery System
8.9 MWFY26
Plant utilisation
~93%FY26
Who pays it
Construction and infrastructure buyers for cement; steel, cement, glass and refractories industries for dolomite
Biggest cost
Other operating expenses (62.6% of revenue); materials at 26% is the largest direct input
Kind of business
Cyclical, asset-heavy cement manufacturer with ongoing losses and going-concern flag
Where it sits
Odisha-based cement and clinker producer; subsidiary of JSW Cement
Market Cap
₹379 Cr
P / E (TTM)
—
EV / EBITDA
121.2×
Div Yield
—
Growth
72.5%▲
Revenue 5y CAGR
PAT — · EBITDA —
Quality
-1.7%·
ROCE (FY26)
ROE n/m · margin 3.9%
Leverage
n/m·
Debt / Equity · negative net worth
Net debt ₹1,693 Cr
Revenue FY20→FY26
13.4×▲
Margin +41.6 pts
₹32 Cr → ₹435 Cr
Where it sits among 37 Cement & Cement Products peersBar = share of peers beaten · tick = industry median · latest reported figures
ROCE#32/37
EBITDA margin#26/37
Revenue growth#13/37
Profit growth#7/37

Scorecard

Measured from the filed financials, judged against its Cement & Cement Products peers · as of FY26 — not investment advice

Strengths
Revenue compounding 73% a year over 5 years
Negative working-capital cycle — the business is funded by its suppliers
Concerns
Negative returns on capital — −1.7%
#32 of 37 in Cement & Cement Products on the latest reported figures · up from −68.1% in FY20
Negative net worth — liabilities exceed assets by ₹22 Cr (FY26)
Debt-to-equity and return on equity are not meaningful below zero equity

Charts

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SHIVACEM · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

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Common questions

Answered from SHIVA CEMENT LTD.'s filed financials and exchange disclosures

What does SHIVA CEMENT LTD. do?

SHIVA CEMENT LTD. is a Cement & Cement Products company listed on NSE and BSE, trading under the symbol SHIVACEM.

Is SHIVA CEMENT LTD. profitable?

No. Over the trailing twelve months SHIVA CEMENT LTD. reported a net loss of ₹126 Cr on revenue of ₹435 Cr.

Does SHIVA CEMENT LTD. pay a dividend?

Not in the latest reported year — SHIVA CEMENT LTD.'s dividend payout for FY26 was nil.

Is SHIVA CEMENT LTD. debt-free?

No. It reported borrowings of ₹1,694 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹1,693 Cr after cash. Its net worth is negative — liabilities exceed assets by ₹22 Cr, so a debt-to-equity ratio is not meaningful.

Where can I track SHIVA CEMENT LTD.'s announcements?

Every NSE and BSE filing by SHIVA CEMENT LTD. appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.