What is Shiva Cement Ltd (532323) share price return in the past 10 years?

Shiva Cement Ltd share price has appreciated 12% annually (CAGR) over the past ten years.

What is the share price of Shiva Cement Ltd (532323)?

Company share prices are keep on changing according to the market conditions. The current trading price of Shiva Cement Ltd (532323) on 03-Jul-2026 16:59:59 at 16:59 is 17.41.

What is the P/E ratio of Shiva Cement?

The latest standalone P/E ratio of Shiva Cement as of 03-Jul-2026 is 0.00.

What is the P/B ratio of Shiva Cement Ltd (532323)?

The latest standalone P/B ratio of Shiva Cement Ltd (532323) as of 03-Jul-2026 is -23.39.

What is the 52-week high and low of Shiva Cement Ltd (532323)?

The 52-week high of Shiva Cement Ltd (532323) is Rs. 42.74 and the 52-week low is Rs. 12.05.

Shiva Cement Ltd (532323) Share Analysis – Order Book, Quality & Valuation Zone & DeciZen Rating

Name: Shiva Cement Ltd (532323)
Brand: Shiva Cement

Shiva Cement Ltd (532323)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532323 NSE: Cement & Construction Materials | Small Cap | Shiva Cement Share Price

Shiva Cement Ltd (532323)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532323 NSE: Cement & Construction Materials | Small Cap | Shiva Cement Share Price

Key Metrics

Valuation Multiples

Market Cap

₹514 Cr.

Current Price

₹17.4

52-Week Low / High

₹12 / 43

TTM EPS

₹-4.3

TTM Sales

₹435 Cr.

Book Value per Share

₹-0.7

P/E Ratio

0.00

Industry PE

Price to Book (P/B)

-23.39

Lower than its 5-year historical median

Price to Sales (P/S)

1.18

Lower than its 5-year historical median

EV/EBITDA

116.40

Higher than its 5-year historical median

Dividend Yield

Profitability Efficiency

Return on Equity (ROE)

-308.41%

Underperforms industry median

Return on Capital Employed (ROCE)

-1.55%

Underperforms industry median

Return on Assets (ROA)

-7.50%

Operating Profit Margin

3.1%

Net Profit Margin

-28.85%

Gross Profit Margin

-25.7%

Growth Momentum
1-yr vs 3-yr growth

Sales Growth (1 Year)

Slowing versus 3-year growth rate

39.85%

Operating Profit Growth (1 Year)

Net Profit Growth (1 Year)

Asset Quality

Promoter Holding

66.50%

Pledged shares (%) of Promoter's holding (%)

0.00%

Reserves

₹-81 Cr.

Equity

₹59 Cr.

Face Value

₹2

All Time Low / High

₹0.85 / 62.54

Shiva Cement stock performance

Key Ratios

Check Before You Invest

Quality

Locked

Valuation

Locked

Price Trend

Locked

Q.1 Is Shiva Cement Ltd a good quality company?

Shiva Cement Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.

How does Shiva Cement Ltd performance compare with that of its Peers?

Q.1 Revenue growth of Shiva Cement Ltd vs industry peers?

Shiva Cement Ltd revenue CAGR is 57.22%, compared to the industry median CAGR of 5.89%, indicating faster growth and gaining its market share.

Q.1 Promoter shareholding and pledge status of Shiva Cement Ltd?

Promoters hold 66.50% of the Shiva Cement Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Stock return of Shiva Cement Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 12.5% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	Mar'26	TTM
ROCE % ⓘ	-14.8%	-15.5%	-8.2%	-9.8%	-7.4%	-5.2%	-9.7%	0.8%	-3.3%	-1.6%	-
Value Creation Index ⓘ	-2.1	-2.1	-1.6	-1.7	NA	NA	NA	NA	-1.2	NA	-
Growth Parameters ⓘ
Sales ⓘ	22	25.3	29.4	32.4	28.5	3.5	0	347	311	435	435
Sales YoY Gr.	-	15%	16.3%	10.3%	-12.2%	-87.8%	-99.7%	34,68,000%	-10.3%	39.9%	-
Adj EPS ⓘ	-0.6	-1.2	-1	-1	-1.1	-0.8	-2.9	-3.3	-4.7	-4.2	-4.3
YoY Gr.	-	NA	NA	NA	NA	NA	NA	NA	NA	NA	-
BVPS (₹) ⓘ	3.9	2.4	1.4	0.3	-0.8	-2	-3.8	-7	3.5	-0.7	-0.7
Adj Net Profit ⓘ	-12.7	-24	-21.3	-21.8	-23.5	-16.1	-61.5	-68.4	-139	-124	-126
Cash Flow from Ops. ⓘ	34.7	-59.3	-4.8	-11.2	-4.5	-113	-110	253	-56.5	84.9	-
Debt/CF from Ops. ⓘ	2.2	-2.2	-28.4	-13.9	-55.3	-7.1	-11.8	5.6	-25	20	-

CAGR ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	39.4%	72.6%	3417.4%	39.9%
Adj EPS ⓘ	NA	NA	NA	NA
BVPSⓘ	-183.1%	NA	NA	-121.1%
Share Price	12%	-13.2%	-29.2%	-50.5%

Key Financial Parameters ⓘ

	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	Mar'26	TTM
Return on Equity % ⓘ	-13.9	-36.2	-53	-122	425.2	53.8	101.5	60.7	639.7	-305	575.7
Op. Profit Mgn % ⓘ	-25.7	-32.9	-23.6	-21.4	-33.1	-261.6	-238136.4	11.2	-2	3.1	3.1
Net Profit Mgn % ⓘ	-58	-95	-72.4	-67.3	-82.6	-465.6	-1117251.8	-19.7	-44.6	-28.5	-28.9
Debt to Equity ⓘ	0.9	2.6	4.7	24.9	-14.3	-18.8	-16.5	-9.7	13.7	-77.2	-
Working Cap Days ⓘ	628	456	447	405	855	18,730	2,10,17,447	329	350	361	78
Cash Conv. Cycle ⓘ	248	118	113	90	109	1,184	17,13,091	-15	10	8	-104

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	Mar'26
Sales	22	25	29	32	28	3	0	347	311	435
Operating Expenses ⓘ +	28	34	36	41	39	26	40	308	323	422
Manufacturing Costs	10	15	14	19	20	5	3	208	195	253
Material Costs	11	6	12	9	9	3	0	72	82	121
Employee Cost	4	4	4	4	4	3	3	16	27	28
Other Costs ⓘ	3	8	6	9	7	16	35	11	18	19
Operating Profit ⓘ	-6	-8	-7	-8	-11	-22	-40	39	-11	14
Operating Profit Margin (%)	-25.7%	-33.0%	-23.5%	-25.9%	-38.0%	-648.0%	-7,32,200.0%	11.2%	-3.6%	3.1%
Other Income ⓘ +	0	0	0	0	4	4	3	2	7	5
Exceptional Items ⓘ	-11	-10	0	0	0	0	0	0	0	-2
Interest ⓘ	8	14	15	15	15	9	13	101	115	131
Depreciation ⓘ	6	8	8	8	8	7	59	31	42	42
Profit Before Tax ⓘ	-30	-40	-29	-31	-29	-35	-109	-92	-162	-156
Tax ⓘ	-10	-9	-8	-8	-8	-9	-28	-23	-20	-30
Profit After Tax	-20	-31	-21	-23	-22	-26	-80	-68	-142	-126
PAT Margin (%)	-93.3%	-123.0%	-72.4%	-70.5%	-77.2%	-736.0%	-14,63,096.4%	-19.7%	-45.8%	-28.9%
Adjusted EPS (₹)	-1.0	-1.5	-1.0	-1.1	-1.1	-1.2	-3.9	-3.3	-4.8	-4.3
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Valuation of Shiva Cement - Standalone

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	Mar'26
Equity and Liabilities
Shareholders Fund +	82	51	30	6	-17	-43	-78	-147	103	-22
Share Capital ⓘ	39	39	39	39	39	39	39	39	59	59
Reserves ⓘ	43	12	-9	-33	-56	-82	-117	-186	44	-81
Debt +	49	124	15	142	247	802	1,148	1,397	1,346	1,414
Long Term Debt	29	124	15	16	242	802	1,148	1,397	1,346	1,414
Short Term Debt	20	0	0	125	5	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	7	8	6	7	8	5	51	58	63	86
Others Liabilities ⓘ	42	6	128	25	26	86	195	134	69	288
Total Liabilities ⓘ	179	188	178	180	263	850	1,315	1,442	1,582	1,766
Fixed Assets
Net Fixed Assets ⓘ +	153	147	142	135	128	112	35	1,034	1,126	1,206
Gross Block	159	160	164	164	165	151	123	1,154	1,206	1,328
Accumulated Depreciation	6	14	22	29	37	39	87	120	80	122
CWIP ⓘ	0	1	1	6	31	464	905	138	113	35
Investments ⓘ	0	0	0	0	0	0	0	0	0	0
Inventories	9	13	10	12	12	11	32	45	65	77
Trade Receivables	1	4	3	1	2	0	8	0	1	0
Cash Equivalents	1	1	1	1	8	13	3	10	3	2
Others Assets ⓘ	15	23	21	25	82	250	332	215	274	447
Total Assets ⓘ	179	188	178	180	263	850	1,315	1,442	1,582	1,766

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	Mar'26
Cash Flow From Operating Activity ⓘ +	35	-59	-5	-11	-4	-113	-110	253	-57	85
PBT ⓘ	-30	-40	-29	-31	-29	-35	-109	-92	-162	-156
Adjustment ⓘ	25	32	23	25	21	29	99	132	159	170
Changes in Working Capital ⓘ	40	-51	2	-5	4	-107	-99	213	-52	72
Tax Paid ⓘ	0	-0	0	0	-0	-0	-0	-1	-1	-1
Cash Flow From Investing Activity ⓘ +	-40	-11	-3	-6	-75	-362	-342	-254	-210	-232
Capex	-40	-11	-3	-6	-79	-361	-350	-254	-212	-236
Net Investments	0	0	0	0	0	-2	7	0	1	0
Others ⓘ	0	0	0	0	4	1	0	0	0	4
Cash Flow From Financing Activity ⓘ +	6	70	8	17	86	479	448	8	261	146
Net Proceeds from Shares ⓘ	3	0	0	0	0	0	0	0	400	0
Net Proceeds from Borrowing ⓘ	12	96	0	-5	112	560	387	243	-57	273
Interest Paid ⓘ	-8	-4	-0	-0	-3	-76	-81	-120	-117	-127
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	-2	-21	8	22	-22	-5	142	-115	35	-0
Net Cash Flow ⓘ	0	0	-0	-0	7	4	-3	7	-5	-1

Financial Ratio

PARTICULARS	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	Mar'26
Ratios
ROE (%)	-22.93	-46.88	-52.95	-127.75	N/A	N/A	N/A	N/A	0	N/A
ROCE (%)	-14.76	-15.49	-8.17	-9.81	N/A	N/A	N/A	N/A	-3.34	N/A
Asset Turnover Ratio	0.13	0.14	0.16	0.18	0.13	0.01	0	0.25	0.21	0.26
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Working Capital Days
Receivable Days	126.90	38.10	43.30	24.60	21.30	100.30	0	0	0.70	0
Inventory Days	191.80	152.10	138.40	121.50	152.10	1,220.40	0	40.10	63.90	59.30
Payable Days	178.50	447.80	214	259.70	307.80	866.40	0	275.50	232.20	188.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Shiva Cement Ltd FAQs

The current trading price of Shiva Cement on 03-Jul-2026 16:59 is ₹17.41.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 02-Jul-2026 the market cap of Shiva Cement stood at ₹513.6 Cr

The latest P/E ratio of Shiva Cement as of 02-Jul-2026 is 0.00.

The latest P/B ratio of Shiva Cement as of 02-Jul-2026 is -23.39.

The 52-week high of Shiva Cement is ₹42.74 and the 52-week low is ₹12.05.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shiva Cement is ₹435 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shiva Cement Ltd is a below average quality company.

The key valuation ratios of Shiva Cement Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Shiva Cement Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Shiva Cement Ltd

Shiva Cement manufactures cement and allied products in India. It offers various types of cements, including PS cement. The company is based in Rourkela, India. The company has its plants located at Kalunga and Sundargarh in Orissa. The company has a combined installed capacity of 177,000 tonne per annum. ACC has 15% stake in Shiva Cement and is likely to increase it to 25%. Shiva Cement also sells ACC cement in West Bengal and in some pockets of north-eastern India.

Milestones:

2003: - Tied up an ECB for $7 million with Habib Bank.

2005: - In September 2005, the company received an in-principle approval for its debt restructuring plan from its consortium of bankers, lead by IFCI.

2007: - On July 17, 2007 the shareholders approved the preferential allotment of 1,000,000 equity shares to IFCI.

On June 18, 2007 the board approved the allotment of 9,500,000 equity shares upon conversion of equity share warrants out of 23,000,000 existing equity shares warrants.

2010 - Shiva Cement has won first prize for ""Best overall performance"" on the occasion of 48th Mines Safety Week Celebration, Chaibasa Region under Directorate General of Mines Safety, Ministry of Labour, Govt. of India.

-The Company has been selected for the National Safety Award (Mines) for the year 2008 under the category "Lowest injury frequency rate" by the Directorate General of Mines & Safety, Dhanhad, Govt. of India.

-The Company has received a "Certificate of Merit" awarded by 'Dalal Street Investment Journal' for ranking among India's top 400 small cap company.

2011 -ShivaCement signed MOU with Govt. of Odisha for expanding the plant capacity.

2012 -Kharkurbahai Limestone Mines of Shiva Cement Ltd has been awarded Second prize in "Air Quality Management" during 14th Mines Environment & Mineral Conservation Week 2011-12 under the Aegis of Indian Bureau of Mines, Govt. of India.

Business areas of the company:

The companyâ€™s principal activity is to manufacture cement and allied products. Its product includes PS cement.

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
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Shiva Cement Ltd (532323)

Shiva Cement Ltd (532323)

Shiva Cement stock performance

Check Before You Invest

Quality

Valuation

Price Trend

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Value Creation ⓘ

Growth Parameters ⓘ

CAGR ⓘ

Key Financial Parameters ⓘ

Profit And Loss

Valuation of Shiva Cement - Standalone

Price Calculator

Price Chart

Price to Earnings

Price to Sales

Price to Book

EV to EBITDA

Dividend History

Price Calculator

Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

Balance Sheet

Equity and Liabilities

Fixed Assets

Cash Flow

Financial Ratio

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Shiva Cement Ltd FAQs

What is the share price of Shiva Cement?

What is the market cap of Shiva Cement?

What is the P/E ratio of Shiva Cement?

What is the P/B ratio of Shiva Cement?

What is the 52-week high and low of Shiva Cement?

What is the TTM revenue of Shiva Cement?

Is Shiva Cement Ltd a good quality company?

Is Shiva Cement Ltd undervalued or overvalued?

Is Shiva Cement Ltd a good buy now?

About Shiva Cement Ltd

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