Shiva Cement Q1 FY27 Results (BSE: 532323)
Signal: Loss narrowed
The read
Revenue jumped 43% YoY to ₹15,149 lakh on the new grinding unit, but the company remains deeply unprofitable with EBITDA loss of -53% of revenue; the net loss narrowed 29% YoY mostly due to a deferred tax credit. The going concern uncertainty persists, but management cites the dolomite mine CTO and the new grinding unit as catalysts for improved cash flows. The margin improvement from -92% to -53% EBITDA/revenue is a positive, but absolute losses are still large.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹151.49 Cr | 43.44% | 24.84% |
| EBIT | ₹-91.5 Cr | 33.49% | |
| Net profit | ₹-21.35 Cr | 29.49% | |
| EPS | ₹-0.72 | 25.77% | |
| EBIT margin | -83.46% |
P&L walk
Standalone-only filer; no consolidated statement.
Segments
Single operating segment – cement and related products – drives all reported figures.
Key positives
- Revenue +43.4% YoY on new grinding unit volume.
- Gross margin expanded 578bps YoY to 72.28% on lower input cost ratio.
- EBITDA loss margin improved from -91.85% to -53.00% YoY.
- Net loss narrowed 29.5% YoY; EPS improved from -₹0.97 to -₹0.72.
Key concerns
- EBITDA remains deeply negative (-53% margin); operating cash flows likely still negative.
- Going concern flagged with accumulated losses of ₹57,979.91 lakh.
- Finance cost at 23.1% of revenue is a heavy drag.
- Deferred tax credit of ₹510.95 lakh masked underlying loss severity.
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