Shiva Cement share price & results
- Sept 2026
- Sept 2026
Odisha-based clinker manufacturer and JSW Cement subsidiary, feeding clinker to JSW's eastern India cement plants and building a new grinding unit to move into cement.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 113 | +37.8% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 15.0 | +10.1 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | -23.0 | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | −7.7 pts | Trailing twelve months | TTM to Sept 2026 | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | -34.71 | +51.5 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 45.17 | +50.2 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Price
Performance −51.7% 1Y
1Y: ₹26.27 on 24 Oct 2025 → ₹12.7. High ₹26.33 (27 Oct 2025), low ₹12.6 (13 Oct 2026).
- Previous close
- ₹12.85
- Market cap
- ₹382 Cr
- 52-week range
- ₹12.6 – ₹26.33
- One year
- −51.77%
Overview
- Symbol
- NSE:SHIVACEM
- Sector
- Construction Materials
- Industry
- Commodities
- Exchange
- NSE
- Currency
- INR
What Shiva Cement Ltd. does
Based on the company's own presentations, annual report and earnings calls.
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
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +30% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 58 | 106 | 106 | 82 | 126 | 121 | 151 | 113 |
| Expenses | 66 | 110 | 108 | 78 | 125 | 111 | 133 | 95 |
| Operating profit | -8 | -3 | -2 | 4 | 1 | 11 | 19 | 17 |
| Operating margin | −14.0% | −3.1% | −1.9% | 4.9% | 0.6% | 9.0% | 12.0% | 15.0% |
| Other income | 3 | 1 | 1 | 1 | 0 | 1 | 1 | 1 |
| Interest | 31 | 30 | 30 | 31 | 35 | 35 | 35 | 35 |
| Depreciation | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 |
| Profit before tax | -46 | -42 | -41 | -36 | -45 | -34 | -26 | -28 |
| Tax rate | −25.0% | 27.0% | −26.0% | −10.0% | −24.0% | −15.0% | −19.0% | −20.0% |
| Net profit | -34 | -53 | -30 | -33 | -34 | -29 | -21 | -23 |
| EPS (₹ per share) | -1.15 | -1.80 | -1.03 | -1.11 | -1.15 | -0.97 | -0.72 | -0.77 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 0 | 347 | 312 | 435 |
| Expenses | 40 | 309 | 323 | 422 |
| Operating profit | -40 | 39 | -11 | 14 |
| Other income | 3 | 3 | 6 | 3 |
| Interest | 13 | 101 | 115 | 131 |
| Depreciation | 60 | 31 | 43 | 42 |
| Profit before tax | -108 | -91 | -162 | -156 |
| Net profit | -80 | -68 | -143 | -126 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 39 | 39 | 59 | 59 | 59 | 59 |
| Reserves | -162 | -231 | 0 | -19 | -126 | -124 |
| Borrowings | 1,334 | 1,468 | 1,460 | 1,603 | 1,740 | 1,681 |
| Other liabilities | 180 | 265 | 183 | 269 | 242 | 346 |
| Total liabilities | 1,392 | 1,542 | 1,701 | 1,913 | 1,915 | 1,961 |
| Fixed assets | 35 | 1,034 | 1,126 | 1,211 | 1,206 | 1,206 |
| Capital work in progress | 905 | 138 | 113 | 29 | 35 | 21 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 451 | 370 | 463 | 672 | 675 | 734 |
| Total assets | 1,392 | 1,542 | 1,701 | 1,913 | 1,915 | 1,961 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -4 | -113 | -110 | 253 | -56 | 85 |
| Cash from investing | -75 | -362 | -342 | -254 | -210 | -232 |
| Cash from financing | 86 | 479 | 448 | 8 | 261 | 146 |
| Net cash flow | 7 | 4 | -3 | 7 | -5 | -1 |
| Free cash flow | -84 | -475 | -459 | -1 | -268 | -151 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 24 | 3 | 291635 | 0 | 1 | 0 |
| Inventory days | 511 | 1550 | 24546 | 226 | 288 | 232 |
| Days payable | 327 | 697 | 41230 | 294 | 434 | 324 |
| Cash conversion cycle | 208 | 856 | 274951 | -67 | -145 | -93 |
| Working capital days | -636 | -4320 | -4252980 | -158 | -124 | -302 |
| Return on capital employed | −7.0% | −2.0% | −7.0% | 1.0% | −3.0% | −1.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 66.50% as of Sept 2026; institutions added 0.00 pts since Jun 2026.
- Promoters 66.50%
- Foreign institutions 0.11%
- Domestic institutions 0.07%
- Public 33.30%
Who is on the register
Named in the Sep 2026 filing
Every holder of Shiva Cement Ltd. above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 66.23% | unchanged | |
| 1.03% | unchanged | |
| 0.27% | 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.
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