Recent Price Movement and Market Context
On 24 Nov 2025, Shiva Cement’s share price touched Rs.22.22, its lowest level in the past year. This price point represents a notable contraction from its 52-week high of Rs.46, indicating a near 52% reduction in value over the period. The stock underperformed its sector by 2.58% on the day, continuing a sequence of declines that have resulted in a cumulative return of -9.56% over the last six trading days.
In contrast, the broader market has shown resilience. The Sensex opened 88.12 points higher and was trading at 85,363.74, up 0.15% on the day. The benchmark index is currently within 0.51% of its 52-week high of 85,801.70 and has recorded a 2.58% gain over the past three weeks. Mid-cap stocks have also contributed positively, with the BSE Mid Cap index rising by 0.21%.
Despite the positive market environment, Shiva Cement’s shares have remained under pressure, trading below all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning highlights the stock’s current weakness relative to its historical price trends.
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Financial Performance and Fundamental Concerns
Shiva Cement’s financial metrics over the past year have reflected challenges. The stock’s one-year return stands at -47.61%, contrasting with the Sensex’s positive 7.90% performance over the same period. Profitability has also been under strain, with reported profits declining by 51% year-on-year.
The company’s long-term fundamentals indicate a high leverage position, with a debt-to-equity ratio of 39.12 times, signalling significant financial obligations relative to shareholder equity. This elevated debt level contributes to a weak long-term fundamental strength assessment.
Over the last five years, net sales have shown an annual growth rate of 64.04%, while operating profit has remained flat, showing no growth. This disparity suggests that revenue gains have not translated into improved operating profitability.
Additionally, the company’s earnings before interest, depreciation, and taxes (EBITDA) have been negative, which adds to the risk profile of the stock. The operating profit to interest coverage ratio for the latest quarter was recorded at 0.13 times, indicating limited capacity to cover interest expenses from operating earnings.
Shareholding and Market Position
Domestic mutual funds currently hold no stake in Shiva Cement, a factor that may reflect a cautious stance given the company’s financial profile and recent performance. The stock has consistently underperformed the BSE500 index over the past three years, reinforcing its relative weakness within the broader market.
Despite its size, Shiva Cement’s market capitalisation grade is low, rated at 4, which aligns with its current valuation challenges and subdued investor interest.
Recent Operational Highlights
Some recent quarterly data points provide a nuanced view. The company reported its highest quarterly PBDIT at Rs.4.01 crores and net sales for the latest six months stood at Rs.187.72 crores, reflecting a growth rate of 27.58%. These figures indicate pockets of operational activity that have shown improvement, although they have not yet translated into a sustained positive trend in the stock price.
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Summary of Key Challenges
The stock’s decline to Rs.22.22 marks a significant low point in its 52-week trading range. The combination of high debt levels, subdued profitability, and consistent underperformance relative to market benchmarks has contributed to the current valuation pressures. Shiva Cement’s share price remains below all major moving averages, underscoring the prevailing negative momentum.
While recent sales growth and quarterly PBDIT improvements offer some operational context, these have not yet influenced the broader market perception or stock performance. The absence of domestic mutual fund holdings further highlights the cautious stance within institutional circles.
Overall, Shiva Cement’s current market position reflects a complex interplay of financial leverage, earnings challenges, and competitive pressures within the cement sector.
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