Recent Price Movement and Market Context
On 24 Nov 2025, Shiva Cement’s share price touched Rs.22.22, the lowest level recorded in the past year. This price point comes after six consecutive trading sessions of decline, during which the stock has registered a cumulative return of -9.56%. The day’s performance showed a further dip of 2.95%, underperforming the Cement & Cement Products sector by 2.58% on the same day.
In contrast, the broader market has displayed resilience. The Sensex opened 88.12 points higher and was trading at 85,363.74, up 0.15%. The index remains close to its 52-week high of 85,801.70, just 0.51% away, supported by a three-week consecutive rise and a 2.58% gain over that period. Mid-cap stocks have also contributed positively, with the BSE Mid Cap index gaining 0.21% on the day.
Technical Indicators Signal Weak Momentum
Shiva Cement’s current trading levels are below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning indicates a sustained bearish momentum, with no immediate signs of reversal from a price perspective. The stock’s 52-week high stands at Rs.46, highlighting the extent of the decline over the past year.
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Financial Performance and Debt Profile
Over the last year, Shiva Cement’s stock has recorded a return of -47.61%, contrasting with the Sensex’s positive 7.88% performance during the same period. The company’s financial indicators reveal a challenging environment. The debt-to-equity ratio stands at a notably high 39.12 times, signalling a substantial leverage burden. This level of indebtedness contributes to a weak long-term fundamental strength assessment.
Net sales have shown an annual growth rate of 64.04% over the past five years, yet operating profit has remained flat, indicating limited expansion in profitability despite revenue gains. The company’s earnings before interest, depreciation, taxes and amortisation (EBITDA) have been negative, adding to the risk profile of the stock. Profitability has contracted by 51% over the past year, further underscoring the financial strain.
Recent Quarterly Results and Sales Growth
Despite the broader challenges, Shiva Cement reported some positive quarterly metrics. The operating profit to interest ratio reached 0.13 times, the highest recorded in recent quarters, suggesting a marginal improvement in the company’s ability to cover interest expenses. Net sales for the latest six-month period stood at Rs.187.72 crores, reflecting a growth rate of 27.58%. Additionally, the profit before depreciation, interest and taxes (PBDIT) for the quarter was Rs.4.01 crores, marking the highest quarterly figure in recent times.
Shareholding and Market Position
Domestic mutual funds currently hold no stake in Shiva Cement, which may indicate a cautious stance from institutional investors who typically conduct detailed research before committing capital. The stock has consistently underperformed the BSE500 index over the past three years, reinforcing its position as a laggard within its sector and the broader market.
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Sector and Industry Overview
Shiva Cement operates within the Cement & Cement Products industry, a sector that has seen mixed performance in recent months. While the broader market indices have shown strength, the company’s stock has not mirrored this trend. The divergence between sector performance and Shiva Cement’s share price highlights company-specific factors influencing investor sentiment and valuation.
The company’s market capitalisation grade is relatively low, reflecting its diminished market value compared to peers. This, combined with the high leverage and subdued profitability, contributes to the cautious market assessment surrounding the stock.
Summary of Key Metrics
To summarise, Shiva Cement’s stock has reached Rs.22.22, its lowest level in 52 weeks, following a six-day losing streak and a near 10% decline over that period. The stock trades below all major moving averages, signalling continued downward momentum. Financially, the company carries a heavy debt load with a debt-to-equity ratio exceeding 39 times, while profitability metrics remain under pressure despite some recent sales growth and improved quarterly operating profit to interest coverage.
Institutional interest remains absent, and the stock has underperformed major benchmarks consistently over the past three years. These factors collectively contribute to the current market positioning of Shiva Cement within the Cement & Cement Products sector.
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