532323
Shiva Cement financials
- Market cap
- ₹471 Cr
- Sector
- Construction Materials
What Shiva Cement does
Shiva Cement Limited produces clinker at its plant in Village Telighana, Sundargarh district, Odisha, sourcing limestone from its own captive quarries at Khatkurbahal. It supplies clinker to JSW Cement Group's eastern operations at Salboni (West Bengal) and Jajpur (Odisha). The company also runs a waste heat recovery power system that supplies part of the plant's electricity needs. It is setting up a 1 MTPA cement grinding unit at Sambhalpur, Odisha to begin producing and selling cement directly.
Segments
- Clinker production and trade
- Cement grinding (under construction)
- Clinker production capacity
- 4,000 TPD (~1.36 MTPA)
- Waste heat recovery power plant capacity
- 8.9 MW
- New cement grinding unit under construction
- 1 MTPA at Sambhalpur, Odisha
- Number of employees
- 220
- Highest monthly clinker production
- 1,37,072 MT (March 2025)
- Average clinker production rate
- 4,427 TPD
Quarterly results
Q1 FY27: revenue up 42.5%, net profit up 30.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 51 | 58 | 106 | 106 | 82 +61% | 126 +117% | 121 +14% | 151 +42% |
| EBITDA | -9 | -8 | -3 | -2 | 4 +144% | 1 +113% | 11 +467% | 19 +1050% |
| Net profit | -34 | -34 | -53 | -30 | -33 +3% | -34 +0% | -29 +45% | -21 +30% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −46.9% 1Y
1Y: ₹29.98 on 10 Sept 2025 → ₹15.91. High ₹30.07 (11 Sept 2025), low ₹13.16 (30 Mar 2026).
Financials, as filed
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹0 Cr | ₹347 Cr | ₹312 Cr | ₹435 Cr |
| Operating profit | ₹-40 Cr | ₹39 Cr | ₹-11 Cr | ₹14 Cr |
| Operating margin | — | 11.2% | -3.5% | 3.2% |
| Interest | ₹13 Cr | ₹101 Cr | ₹115 Cr | ₹131 Cr |
| Depreciation | ₹60 Cr | ₹31 Cr | ₹43 Cr | ₹42 Cr |
| Net profit | ₹-80 Cr | ₹-68 Cr | ₹-143 Cr | ₹-126 Cr |
| Net margin | — | -19.6% | -45.8% | -29.0% |
| Cash from operations | ₹-110 Cr | ₹253 Cr | ₹-56 Cr | ₹85 Cr |
| Free cash flow | ₹-459 Cr | ₹-1 Cr | ₹-268 Cr | ₹-151 Cr |
| ROCE | -7.0% | 1.0% | -3.0% | -1.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹59 Cr | ₹59 Cr |
| Reserves | ₹-56 Cr | ₹-82 Cr | ₹-162 Cr | ₹-231 Cr | ₹-19 Cr | ₹-126 Cr |
| Borrowings | ₹247 Cr | ₹802 Cr | ₹1.3k Cr | ₹1.5k Cr | ₹1.6k Cr | ₹1.7k Cr |
| Other liabilities | ₹73 Cr | ₹139 Cr | ₹180 Cr | ₹265 Cr | ₹269 Cr | ₹242 Cr |
| Total liabilities | ₹302 Cr | ₹898 Cr | ₹1.4k Cr | ₹1.5k Cr | ₹1.9k Cr | ₹1.9k Cr |
| Fixed assets | ₹128 Cr | ₹112 Cr | ₹35 Cr | ₹1.0k Cr | ₹1.2k Cr | ₹1.2k Cr |
| Capital work in progress | ₹31 Cr | ₹464 Cr | ₹905 Cr | ₹138 Cr | ₹29 Cr | ₹35 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹143 Cr | ₹323 Cr | ₹451 Cr | ₹370 Cr | ₹672 Cr | ₹675 Cr |
| Total assets | ₹302 Cr | ₹898 Cr | ₹1.4k Cr | ₹1.5k Cr | ₹1.9k Cr | ₹1.9k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 4% to 54,974.
- Promoters
- 66.5%
- FIIs
- 0.1%
- DIIs
- 0.1%
- Public
- 33.3%
Since Jun 2025
- Promoters +0.06 pp
- Public −0.06 pp
- FIIs 0.00 pp
How it drifted, 12 quarters
Over this window the public fell from 40.3% to 33.3% — −7.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 59.6%, DIIs 0.1%, Public 40.3%.Dec '23: Promoters 59.6%, FIIs 0.1%, DIIs 0.1%, Public 40.2%.Mar '24: Promoters 59.6%, FIIs 0.1%, DIIs 0.1%, Public 40.2%.Jun '24: Promoters 66.4%, FIIs 0.1%, DIIs 0.1%, Public 33.4%.Sep '24: Promoters 66.4%, FIIs 0.1%, DIIs 0.1%, Public 33.4%.Dec '24: Promoters 66.4%, FIIs 0.1%, DIIs 0.1%, Public 33.4%.Mar '25: Promoters 66.4%, FIIs 0.1%, DIIs 0.1%, Public 33.4%.Jun '25: Promoters 66.4%, FIIs 0.1%, DIIs 0.1%, Public 33.4%.Sep '25: Promoters 66.4%, FIIs 0.1%, DIIs 0.1%, Public 33.4%.Dec '25: Promoters 66.4%, FIIs 0.1%, DIIs 0.1%, Public 33.4%.Mar '26: Promoters 66.5%, FIIs 0.1%, DIIs 0.1%, Public 33.3%.Jun '26: Promoters 66.5%, FIIs 0.1%, DIIs 0.1%, Public 33.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Shiva Cement above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| JSW Cement Limited | 66.23% | unchanged |
| Celsia Philomena Bocarro | 1.03% | unchanged |
| Anushree Parth Jindal | 0.27% | unchanged |
| Parth Jindal | 0.00% | unchanged |
| Reynold Traders Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Shiva Cement
Guides on how to read this kind of business and the numbers that matter.