Stock Price Movement and Market Context
On 30 Jan 2026, Shiva Cement Ltd’s shares closed at Rs.20.12, down 3.67% on the day, extending a losing streak that has spanned four consecutive sessions. Over this period, the stock has fallen by 7.18%, underperforming the Cement & Cement Products sector by 1.6% on the same day. This new low contrasts sharply with the stock’s 52-week high of Rs.42.74, representing a decline of over 52.9% from that peak.
The stock is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained bearish momentum. This technical positioning underscores the challenges the stock faces in regaining upward traction.
Meanwhile, the broader market environment shows mixed signals. The Sensex opened lower at 81,947.31, down 619.06 points (-0.75%) and was trading at 82,197.93 (-0.45%) during the session. Despite this, the Sensex remains within 4.82% of its 52-week high of 86,159.02. The index trades below its 50-day moving average, though the 50DMA remains above the 200DMA, indicating some underlying resilience in the broader market.
Financial Performance and Fundamental Assessment
Shiva Cement Ltd’s financial metrics reveal several areas of concern that have contributed to the stock’s weak performance. The company’s market capitalisation grade stands at 4, reflecting a relatively modest size within its sector. Its Mojo Score is 17.0, with a Mojo Grade of Strong Sell, an upgrade from a previous Sell rating on 25 Aug 2025, signalling deteriorating fundamentals and heightened risk.
One of the most significant challenges is the company’s high leverage. Shiva Cement’s debt-to-equity ratio is an alarming 39.12 times, indicating a substantial reliance on debt financing. This level of indebtedness places considerable strain on the company’s long-term financial stability and limits its flexibility in capital management.
Over the past five years, the company’s net sales have grown at an annual rate of 64.04%, which is a positive indicator of top-line expansion. However, operating profit growth has stagnated at 0% over the same period, highlighting difficulties in translating sales growth into profitability. This disconnect between revenue growth and operating earnings has weighed on investor sentiment.
Profitability metrics further underscore the challenges. The company has reported a negative EBITDA, which is a key risk factor given the importance of earnings before interest, taxes, depreciation, and amortisation in assessing operational cash flow. Over the last year, Shiva Cement’s profits have declined by 51%, while the stock itself has generated a negative return of 45.20%, reflecting the adverse impact on shareholder value.
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Comparative Performance and Market Position
Shiva Cement Ltd has consistently underperformed its benchmark indices over the last three years. Its one-year return of -44.67% starkly contrasts with the Sensex’s positive 7.06% gain over the same period. This persistent underperformance extends to the BSE500 index, where the stock has lagged in each of the past three annual periods.
Despite the company’s size, domestic mutual funds hold no stake in Shiva Cement Ltd. Given that mutual funds typically conduct thorough research and tend to invest in companies with stable fundamentals and growth prospects, their absence from the shareholder base may reflect reservations about the company’s current valuation or business outlook.
Recent Quarterly Results
In the most recent quarter ending December 2025, Shiva Cement Ltd reported its highest quarterly net sales at Rs.126.09 crore. While this top-line figure is a positive development, it has not yet translated into improved profitability or a reversal in the stock’s downward trend. The disconnect between sales growth and earnings remains a critical factor in the stock’s valuation pressures.
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Summary of Key Metrics
To summarise, Shiva Cement Ltd’s current stock price of Rs.20.12 represents a new 52-week low, reflecting a challenging period for the company. The stock’s Mojo Grade of Strong Sell, high debt-to-equity ratio of 39.12 times, negative EBITDA, and stagnant operating profit growth over five years highlight fundamental weaknesses. The stock’s consistent underperformance relative to the Sensex and sector benchmarks further emphasises the difficulties faced.
While the company has demonstrated strong net sales growth, this has not yet translated into improved profitability or a stabilisation of the share price. The absence of domestic mutual fund holdings and the stock’s position below all major moving averages reinforce the cautious stance reflected in the market.
Market and Sector Outlook
The Cement & Cement Products sector continues to face a mixed environment, with some companies showing resilience while others struggle with financial and operational pressures. Shiva Cement Ltd’s current position within this sector is marked by significant challenges, as evidenced by its recent price action and fundamental indicators.
Investors and market participants will continue to monitor the company’s financial disclosures and market developments closely, given the stock’s recent lows and the broader sector dynamics.
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