Price
Financials
Standalone, Rs crore| 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 | 104 | 98 | 145 | 97 | 51 | 58 | 106 | 106 | 82 | 126 | 121 | 151 |
| Expenses | 93 | 93 | 120 | 88 | 59 | 66 | 110 | 108 | 78 | 125 | 111 | 133 |
| Operating Profit | 12 | 5 | 25 | 9 | -9 | -8 | -3 | -2 | 4 | 1 | 11 | 19 |
| OPM % | 11% | 5% | 17% | 9% | -17% | -14% | -3.1% | -1.9% | 4.9% | 0.6% | 9% | 12% |
| Other Income | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 1 | -0 | 1 | 1 |
| Interest | 31 | 38 | 30 | 28 | 26 | 31 | 30 | 30 | 31 | 35 | 35 | 35 |
| Depreciation | 8 | 11 | 10 | 11 | 12 | 10 | 10 | 10 | 10 | 11 | 11 | 11 |
| Profit before tax | -26 | -44 | -15 | -29 | -45 | -46 | -42 | -41 | -36 | -45 | -34 | -26 |
| Tax % | -26% | -26% | -23% | -26% | -26% | -25% | 27% | -26% | -10% | -24% | -15% | -19% |
| Net Profit | -19 | -32 | -12 | -22 | -34 | -34 | -53 | -30 | -33 | -34 | -29 | -21 |
| EPS in Rs | -0.66 | -1.10 | -0.40 | -0.73 | -1.14 | -1.15 | -1.80 | -1.03 | -1.11 | -1.15 | -0.97 | -0.72 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 68 | 22 | 25 | 29 | 32 | 28 | 3 | 0 | 347 | 311 | 435 | 481 |
| Expenses | 58 | 28 | 34 | 36 | 39 | 38 | 13 | 13 | 308 | 317 | 422 | 447 |
| Operating Profit | 9 | -6 | -8 | -7 | -7 | -9 | -9 | -13 | 39 | -6 | 14 | 34 |
| OPM % | 14% | -26% | -33% | -24% | -21% | -33% | -261% | -131,100% | 11% | -2.0% | 3.1% | 7% |
| Other Income | 0 | -11 | -10 | 0 | -1 | 3 | -10 | -24 | 2 | 2 | 4 | 3 |
| Interest | 4 | 8 | 14 | 15 | 15 | 15 | 9 | 13 | 101 | 115 | 131 | 136 |
| Depreciation | 5 | 6 | 8 | 8 | 8 | 8 | 7 | 59 | 31 | 42 | 42 | 43 |
| Profit before tax | 1 | -30 | -40 | -29 | -31 | -29 | -35 | -109 | -92 | -162 | -156 | -141 |
| Tax % | 100% | -32% | -22% | -27% | -25% | -25% | -26% | -26% | -25% | -12% | -19% | |
| Net Profit | 0 | -20 | -31 | -21 | -23 | -22 | -26 | -80 | -68 | -142 | -126 | -117 |
| EPS in Rs | 0.00 | -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% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 20% | 73% | 3417% | 50% | ||
| Compounded Profit Growth | % | % | % | 24% | ||
| Stock Price CAGR | 9% | -14% | -32% | -49% | ||
| Return on Equity | % | % | % | % |
| 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 |
| 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 |
| CFO/OP | 98% | 153% | -615% | 714% | 70% | 162% | 47% | 1,249% | 833% | 651% | 887% | 636% |
| 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 | 291,635 | 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 | 274,951 | -67 | -145 | -93 |
| Working Capital Days | 47 | 28 | -941 | 47 | -1,697 | -1,880 | -636 | -4,320 | -4,252,980 | -158 | -124 | -302 |
| ROCE % | 5% | 3% | -7% | -9% | -8% | -9% | -7% | -2% | -7% | 1% | -3% | -1% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 59.59% | 59.59% | 59.59% | 66.44% | 66.44% | 66.44% | 66.44% | 66.44% | 66.44% | 66.44% | 66.50% | 66.50% |
| FIIs | 0.00% | 0.10% | 0.10% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% |
| DIIs | 0.10% | 0.10% | 0.10% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
| Public | 40.31% | 40.20% | 40.21% | 33.37% | 33.36% | 33.36% | 33.37% | 33.37% | 33.37% | 33.36% | 33.31% | 33.31% |
| No. of Shareholders | 46,436 | 47,747 | 50,354 | 55,596 | 57,498 | 57,781 | 57,597 | 57,241 | 56,800 | 56,064 | 55,238 | 54,974 |
Fundamentals
Market Cap₹ 442 Cr.
Current Price₹ 14.9
Book Value₹ -2.26
ROCE-1.43 %
ROE%
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)50%
Compounded Profit Growth (TTM)24%
Standalone figures.
Valuation
Market capRs 394 Cr
Enterprise valueRs 2,132 Cr
Price to book-5.89x
Price to sales0.82x
EV / EBITDA56.78x
EV / sales4.43x
Price to cash flow4.63x
Earnings yield-29.63%
P/B, 3-year average0.70x
P/B, 5-year average-4.19x
Profitability
Operating margin (excl. other income)3.11%
Operating margin (incl. other income)3.93%
EBITDA margin7.81%
Pre-tax margin-29.36%
Net profit margin-24.24%
Net margin, latest quarter-14.09%
ROE3035.79%
ROCE-1.55%
ROA-6.94%
ROE, 3-year average1097.77%
ROCE, 3-year average-1.36%
ROA, 3-year average-6.80%
ROE, 5-year average695.08%
ROCE, 5-year average-3.81%
ROA, 5-year average-6.33%
ROIC (approx.)-0.27%
Tax rate19.38%
Other income / net worth-5.33%
Growth
Sales growth (latest year)39.85%
Sales CAGR, 3 years3417.38%
Sales CAGR, 5 years72.55%
Sales growth QoQ24.83%
Sales growth YoY (latest quarter)43.44%
Per share
EPS (TTM)Rs -3.95
EPS (latest year)Rs -4.26
EPS (latest quarter)Rs -0.72
EPS, 3-year averageRs -4.20
EPS, 5-year averageRs -3.60
Book value per shareRs -2.26
Sales per shareRs 16.31
Cash flow per shareRs 2.88
Free cash flow per shareRs -5.12
Efficiency
Asset turnover0.23x
Fixed asset turnover0.36x
Inventory turnover4.90x
Inventory days74 days
Creditor days324 days
Cash conversion cycle-93 days
Working capital days-302 days
Leverage
Total debtRs 1,740 Cr
Cash and bankRs 2 Cr
Net debtRs 1,739 Cr
Debt to equity-26.06x
Net debt / EBITDA46.30x
Interest coverage-0.04x
Owners' fund to total sources-3.49%
Debt to assets90.87%
Cash flow
Cash from Operating Activity (latest year)Rs 85 Cr
Cash from Investing Activity (latest year)Rs -232 Cr
Cash from Financing Activity (latest year)Rs 146 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs -151 Cr
FCFE (approx.: FCF + change in debt)Rs 130 Cr
Sales to cash flow5.12x
Statement figures
Net sales (TTM)Rs 481 Cr
Net sales (latest year)Rs 435 Cr
Sales (latest quarter)Rs 151 Cr
Operating profit excl. other income (latest year)Rs 14 Cr
Operating profit (latest quarter)Rs 19 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 38 Cr
PBDT (TTM)Rs -98 Cr
Profit before tax (TTM)Rs -141 Cr
Tax (latest year)Rs -30 Cr
Net profit (TTM)Rs -117 Cr
Net profit (latest year)Rs -126 Cr
Net profit (latest quarter)Rs -21 Cr
Depreciation (TTM)Rs 43 Cr
Depreciation (latest quarter)Rs 11 Cr
Interest (TTM)Rs 136 Cr
Cost of goods sold (latest year)Rs 377 Cr
Total expenditure (latest year)Rs 422 Cr
Total income (latest year)Rs 439 Cr
Share capitalRs 59 Cr
ReservesRs -126 Cr
Shareholders' fundsRs -67 Cr
Total assetsRs 1,915 Cr
Net blockRs 1,206 Cr
Capital work in progressRs 35 Cr
InventoryRs 77 Cr
Other liabilitiesRs 242 Cr
Shares outstanding (crore)29.50
Ownership
Promoter holding66.50% (+0.06 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | SHIVACEM | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -14.8% | -2.8% | -12.0 pts |
| 1 month | -16.8% | -6.8% | -10.0 pts |
| 3 years | -71.8% | +14.2% | -85.9 pts |
| 5 years | -58.0% | +27.9% | -85.8 pts |
Red flags
F-score 6 of 8| serious | Negative equity Shareholders' equity is negative |
| look | Repeated losses Net loss in each of the last two years |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹151 Cr +42.5% vs Jun 2025.
Net loss ₹21 Cr.
Against our estimate for Jun 2026: sales -11.0%, profit +55.2% beat. Our estimate for Sep 2026: sales Rs 105 Cr, profit Rs -27 Cr (how).
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| UltraTech Cement Ltd | 319,108 | 37.0 | 12.7 % |
| Grasim Industries Ltd | 210,966 | 36.8 | 8.01 % |
| Ambuja Cements Ltd | 90,882 | 19.3 | 5.61 % |
| Shree Cement Ltd | 79,017 | 48.5 | 10.3 % |
| J K Cements Ltd | 37,278 | 38.2 | 15.1 % |
| Dalmia Bharat Ltd | 30,712 | 28.0 | 7.59 % |
| ACC Ltd | 22,583 | 11.9 | 11.2 % |
| The Ramco Cements Ltd | 19,949 | 105 | 6.13 % |
| JSW Cement Ltd | 15,349 | 19.5 | 11.1 % |
| Nuvoco Vistas Corporation Ltd | 11,793 | 28.4 | 6.99 % |
| India Cements Ltd | 9,412 | 69.7 | 1.24 % |
| Star Cement Ltd | 7,198 | 19.0 | 16.6 % |
| Birla Corporation Ltd | 6,545 | 11.7 | 9.78 % |
| JK Lakshmi Cement Ltd | 6,085 | 15.8 | 12.0 % |
| Prism Johnson Ltd | 5,500 | 46.9 | 5.92 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Shiva Cement Ltd?
Shiva Cement Ltd (SHIVACEM) has a market capitalisation of Rs 442 Cr. at the 2026-10-01 close.
What were Shiva Cement Ltd's latest quarterly results?
In the Jun 2026 quarter, Shiva Cement Ltd sales was Rs 151 Cr (+42.5% vs Jun 2025) with a net loss of Rs 21 Cr.
What is the 52-week high and low of Shiva Cement Ltd?
The 52-week high is Rs 17.94 and the 52-week low is Rs 13.00.