Shiva Cement Limited
NSE: SHIVACEMCement & Cement Products
Share price
₹12.79
-1.24% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 5 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
25
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹377 Cr
P/E ratio
—
P/B ratio
-5.7
ROCE
-1.4%
ROE
—
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Our sales figures for this company step down at Dec 2021 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.
Whether it grew faster than its sector
Our sales figures for this company step down at Dec 2021 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.
Room to re-rate, or risk of de-rating
It has no earnings, so there is no price-to-earnings to compare.
Whether growth justifies the valuation
It has no earnings to weigh the price against.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Shiva Cement Limited — this one | — | — | — |
| JK Cement | 33%/yr | 38.4× | ₹1.2 |
| Dalmia Bharat | -1%/yr | 27.7× | — |
| ACC Limited | 31%/yr | 11.2× | ₹0.36 |
| The Ramco Cements | -54%/yr | 101.5× | — |
| JSW Cement Limited | 68%/yr | 19.1× | ₹0.28 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Cement & Cement Products), it ranks 30 of 34 on returns, 32 of 34 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
It is losing money on the capital in the business, so there is no advantage to measure.
Whether its growth pays for itself
No — Over the last five years it made ₹59 crore of cash from the business but spent ₹1413 crore on plant and equipment, ₹1354 crore more than it made; the gap was from lenders and shareholders. It has not made a profit over 12 years.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
Not enough filed accounts to run these checks yet.
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 27 Jul 2026 · Standalone · Unaudited
Revenue
₹151 Cr
Revenue vs last year
+43.4%
Revenue vs last quarter
+24.8%
Net profit
-₹21 Cr
Net margin
-14.1%
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹377 Cr
- Prev close
- ₹12.79
- 52w High
- ₹17.9
- 52w Low
- ₹12.5
- Enterprise value
- —
- Beta
- —
- Price CAGR 1y
- -53.0%
- Price CAGR 3y
- -34.0%
- Price CAGR 5y
- -16.0%
- Price CAGR 10y
- 6.0%
Ratios
- Return on assets
- -6.6%
- PEG ratio
- —
- P/E ratio
- —
- P/B ratio
- -5.7
- EV / EBITDA
- —
- Industry P/E
- 27.3
- ROCE
- -1.4%
- ROCE 5y average
- -2.4%
- ROE
- —
- Debt / Equity
- —
- Interest coverage
- -0.2
- Dividend yield
- 0.0%
- ROE 3y average
- —
- ROE last year
- —
Annual P&L
- Annual revenue
- ₹435 Cr
- Annual profit
- -₹126 Cr
- Operating margin
- 3.1%
- Net profit margin
- -29.0%
- EBITDA margin
- 3.2%
- Sales growth 3y
- —
- Sales growth 5y
- 73.1%
- Profit growth 3y
- —
- Profit growth 5y
- —
- EPS
- ₹-4.3
- Sales growth TTM
- 50.0%
- Profit growth TTM
- 24.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹151 Cr
- Profit latest quarter
- -₹21 Cr
- YoY quarterly sales growth
- 43.4%
- YoY quarterly profit growth
- —
- OPM latest quarter
- 12.3%
Balance Sheet
- Book Value
- —
- Face Value
- ₹2.0
- Total debt
- ₹1,740 Cr
- Total cash
- —
- Borrowings
- ₹1,740 Cr
- Reserves / Equity
- -2.1
Cash Flow
- Operating cash flow
- ₹85 Cr
- Free cash flow
- -₹151 Cr
- FCF yield
- -74.7%
- Net cash flow
- -₹1 Cr
Shareholding
- Promoter holding
- 66.5%
- FII holding
- 0.1%
- DII holding
- 0.1%
- Public holding
- 33.3%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| UltraTech Cem. | 10,924.15 | 37.4 | 3,21,912 | 2.21 | 2,603.7 | 15.8 | 24,648.2 | 15.8 | 12.7 |
| Grasim Inds | 2,982.45 | 35.4 | 2,02,966 | 0.34 | 3,846.3 | 50.0 | 48,716.2 | 21.4 | 8.0 |
| Ambuja Cements | 363.45 | 19.1 | 90,311 | 0.55 | 660.0 | -29.8 | 9,500.0 | -7.7 | 5.6 |
| Shree Cement | 21,893.15 | 48.5 | 78,992 | 0.67 | 531.1 | -17.7 | 6,233.1 | 18.0 | 10.3 |
| J K Cements | 4,942.10 | 39.1 | 38,187 | 0.40 | 274.6 | -14.5 | 4,031.7 | 20.3 | 15.1 |
| Dalmia BharatLtd | 1,672.95 | 28.6 | 31,379 | 0.54 | 192.0 | -15.3 | 3,890.0 | 7.0 | 7.6 |
| ACC | 1,185.70 | 11.7 | 22,266 | 0.62 | 147.0 | -56.3 | 5,808.0 | -4.6 | 11.3 |
| Shiva Cement | 12.82 | 378 | 0.00 | -21.4 | 29.5 | 151.5 | 43.4 | -1.4 | |
| Median | 163.03 | 28.0 | 2,825 | 0.33 | 40.6 | -22.7 | 742.7 | 9.5 | 7.0 |
Competes with: ACC Limited, Ambuja Cements, Dalmia Bharat, Grasim Industries Limited, JK Cement, Shree Cement, UltraTech Cement
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 104 | 98 | 145 | 97 | 51 | 58 | 106 | 106 | 82 | 126 | 121 | 151 |
| Expenses | 3 | 93 | 93 | 120 | 88 | 59 | 66 | 110 | 108 | 78 | 125 | 111 | 133 |
| Material Cost | 30 | ||||||||||||
| Change in Inventories | 12 | ||||||||||||
| Purchases of Stock-in-Trade | 0 | ||||||||||||
| Employee Cost | 7.50 | ||||||||||||
| Other Expenses | 83 | ||||||||||||
| Operating Profit | -3 | 12 | 5 | 25 | 9 | -9 | -8 | -3 | -2 | 4 | 1 | 11 | 19 |
| OPM % | 11 | 5.32 | 17 | 9.21 | -17 | -14 | -3.14 | -1.87 | 4.88 | 0.58 | 8.87 | 12 | |
| Other Income | 0 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 1 | -0 | 1 | 1 |
| Exceptional items (within Other Income) | 0 | ||||||||||||
| Interest | 2 | 31 | 38 | 30 | 28 | 26 | 31 | 30 | 30 | 31 | 35 | 35 | 35 |
| Depreciation | 2 | 8 | 11 | 10 | 11 | 12 | 10 | 10 | 10 | 10 | 11 | 11 | 11 |
| Profit before tax | -6 | -26 | -44 | -15 | -29 | -45 | -46 | -42 | -41 | -36 | -45 | -34 | -26 |
| Tax % | -26 | -26 | -26 | -23 | -26 | -26 | -25 | 27 | -26 | -10 | -24 | -15 | -19 |
| Net Profit | -5 | -19 | -32 | -12 | -22 | -34 | -34 | -53 | -30 | -33 | -34 | -29 | -21 |
| EPS in Rs | -0.16 | -0.66 | -1.10 | -0.40 | -0.73 | -1.14 | -1.15 | -1.80 | -1.03 | -1.11 | -1.15 | -0.97 | -0.72 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 66 | 68 | 22 | 25 | 29 | 32 | 28 | 3 | 0 | 347 | 311 | 435 | 481 |
| Expenses | 57 | 58 | 28 | 34 | 36 | 39 | 38 | 13 | 13 | 308 | 317 | 422 | 447 |
| Operating Profit | 10 | 9 | -6 | -8 | -7 | -7 | -9 | -9 | -13 | 39 | -6 | 14 | 34 |
| OPM % | 15 | 14 | -26 | -33 | -24 | -21 | -33 | -261 | -1,31,100 | 11 | -2 | 3.10 | 7 |
| Other Income | 0 | 0 | -11 | -10 | 0 | -1 | 3 | -10 | -24 | 2 | 2 | 4 | 3 |
| Interest | 3 | 4 | 8 | 14 | 15 | 15 | 15 | 9 | 13 | 101 | 115 | 131 | 136 |
| Depreciation | 4 | 5 | 6 | 8 | 8 | 8 | 8 | 7 | 59 | 31 | 42 | 42 | 43 |
| Profit before tax | 3 | 1 | -30 | -40 | -29 | -31 | -29 | -35 | -109 | -92 | -162 | -156 | -141 |
| Tax % | 9 | 100 | -32 | -22 | -27 | -25 | -25 | -26 | -26 | -25 | -12 | -19 | |
| Net Profit | 2 | 0 | -20 | -31 | -21 | -23 | -22 | -26 | -80 | -68 | -142 | -126 | -117 |
| EPS in Rs | 0.09 | 0 | -0.69 | -1.05 | -0.72 | -0.77 | -0.74 | -0.87 | -2.73 | -2.32 | -4.83 | -4.26 | -3.95 |
| Dividend Payout % | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 20%
- 5 years
- 73%
- 3 years
- —
- TTM
- 50%
Compounded profit growth
- 10 years
- —
- 5 years
- —
- 3 years
- —
- TTM
- 24%
Stock price CAGR
- 10 years
- 6%
- 5 years
- -16%
- 3 years
- -34%
- 1 year
- -53%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 40 | 40 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 59 | 59 |
| Reserves | 60 | 61 | 43 | 12 | -9 | -33 | -56 | -82 | -162 | -231 | -0 | -126 |
| Borrowings | 45 | 48 | 76 | 130 | 138 | 155 | 247 | 802 | 1,334 | 1,468 | 1,460 | 1,740 |
| Other Liabilities | 26 | 35 | 28 | 24 | 35 | 50 | 73 | 139 | 180 | 265 | 183 | 242 |
| Total Liabilities | 170 | 183 | 186 | 204 | 202 | 211 | 302 | 898 | 1,392 | 1,542 | 1,701 | 1,915 |
| Fixed Assets | 111 | 118 | 153 | 147 | 142 | 135 | 128 | 112 | 35 | 1,034 | 1,126 | 1,206 |
| CWIP | 7 | 7 | 0 | 1 | 1 | 6 | 31 | 464 | 905 | 138 | 113 | 35 |
| Investments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Other Assets | 53 | 58 | 33 | 57 | 59 | 71 | 143 | 323 | 451 | 370 | 463 | 675 |
| Total Assets | 170 | 183 | 186 | 204 | 202 | 211 | 302 | 898 | 1,392 | 1,542 | 1,701 | 1,915 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 9 | 14 | 35 | -59 | -5 | -11 | -4 | -113 | -110 | 253 | -56 | 85 |
| Cash from Investing Activity | -17 | -12 | -40 | -11 | -3 | -6 | -75 | -362 | -342 | -254 | -210 | -232 |
| Cash from Financing Activity | 8 | -2 | 6 | 70 | 8 | 17 | 86 | 479 | 448 | 8 | 261 | 146 |
| Net Cash Flow | -0 | -0 | 0 | 0 | -0 | -0 | 7 | 4 | -3 | 7 | -5 | -1 |
| Free Cash Flow | -8 | 2 | -6 | -71 | -8 | -18 | -84 | -475 | -459 | -1 | -268 | -151 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 82 | 83 | 21 | 61 | 37 | 16 | 24 | 3 | 2,91,635 | -0 | 1 | -0 |
| Inventory Days | 143 | 138 | 299 | 782 | 303 | 494 | 511 | 1,550 | 24,546 | 226 | 288 | 232 |
| Days Payable | 36 | 28 | 240 | 480 | 179 | 279 | 327 | 697 | 41,230 | 294 | 434 | 324 |
| Cash Conversion Cycle | 190 | 192 | 79 | 362 | 160 | 232 | 208 | 856 | 2,74,951 | -67 | -145 | -93 |
| Working Capital Days | 47 | 28 | -941 | 47 | -1,697 | -1,880 | -636 | -4,320 | -42,52,980 | -158 | -124 | -302 |
| ROCE % | 5 | 3 | -7 | -9 | -8 | -9 | -7 | -2 | -7 | 1 | -3 | -1 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
News
News and filings about Shiva Cement Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Construction Materials
- Industry
- Cement & Cement Products
- Classification
- Construction Materials › Cement & Cement Products
- ISIN
- INE555C01029
News impact
Big market events that reach Shiva Cement Limited, and how the effect spreads.
30 Sept, 14:13 IST · Market event · high impact
JSW Cement to merge with listed arm Shiva Cement
JSW Cement plans to merge its listed arm Shiva Cement, likely lifting Shiva Cement holders and mildly helping JSW Cement, with no real effect on same-name textile firms or big cement rivals.
Who it hits first
- JSW Cement, a cement maker, plans to absorb its listed arm Shiva Cement, which makes cement, into one company.
- Shiva Cement holders face a repricing as the merger swap ratio will set what their shares convert into, though the ratio is not yet disclosed.
- JSW Cement holders get a simpler group with one listed cement unit, but also take on Shiva Cement's weak balance sheet with negative book value.
Who may gain
- Shiva Cement holders may gain if the swap offers a premium to the current price, as listed targets often do in mergers.
- JSW Cement holders may gain modestly over time from lower listing costs and a single pool of cement assets.
- Lawyers, bankers and advisers on the deal earn fees, but no operating customer gains cement demand from this paperwork merger.
Along the supply chain
Downstream
No direct downstream link — dealers and builders face the same cement supply and prices, since plants and output do not change on announcement.
Upstream
No direct supply-chain link — quarries, coal and freight suppliers to both cement plants see no volume change from a share merger.
Where demand moves
Business
No new cement is ordered or sold because of this merger — builders buy the same bags from the same plants; the only business change is internal, combining two balance sheets.
Capital
Money may rotate toward Shiva Cement shares on hopes of a merger premium, while JSW Cement shares see mild buying on simplification; big rivals see no fresh capital pull.
How it spreads across sectors
Construction Materials
Small consolidation signal as JSW folds its listed arm in-house; large makers like UltraTech and Ambuja see no demand shift.
Textiles
No ripple — Shiva Mills and Shiva Texyarn share only a first name with Shiva Cement and make cloth, not cement.
When it plays out
Immediate
1–7 days: Shiva Cement shares reprice on merger hopes; JSW Cement steadies as investors wait for the swap ratio.
Medium term
1–6 months: shareholder and regulatory votes decide the merger; combined accounts show whether the simplification saved costs.
Short term
1–4 weeks: swap ratio and approvals timetable emerge; textile namesakes drift back as no link is confirmed.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
No dividends, splits or big trades on record.
Documents
Annual reports, results presentations and earnings calls, straight from the source.
No documents on record yet.
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.