Shiva Cement Limited has issued a clarification to BSE Limited regarding significant movement in its share price, stating that the fluctuation is purely market driven with no company-specific factors known to management.

BSE Inquiry and Company Response

The clarification came in response to a BSE email dated April 9, 2026, bearing reference number L/SURV/ONL/PV/APJ/2026-2027/3605, which sought explanation for the significant price movement in the company's scrip.

Management's Position on Price Movement

In its official response, Shiva Cement Limited emphasized that the price movement in its scrip is purely due to market conditions and absolutely market driven. The company's management clarified that it neither has any control over nor possesses any knowledge of the specific reasons behind the significant movement in the share price.

The response was signed by Ishika Sharma, Company Secretary and Compliance Officer (ACS-70573), who digitally signed the document on April 10, 2026, at 14:27:24 +05'30'.

Regulatory Compliance Assurance

The company reaffirmed its commitment to regulatory compliance, stating that it has made all necessary disclosures in a timely and transparent manner as required under Regulation 30 of SEBI Listing Regulations, 2015. Shiva Cement Limited assured that it will continue to adhere to the provisions of SEBI Listing Regulations, 2015.

Company Information

Shiva Cement Limited operates with CIN L26942OR1985PLC001557 and has its registered office at Village Telighana, PO: Birangatoli, Tehsil-Kutra, District-Sundargarh, Odisha-770018. The company can be reached at cs@shivacement.com and maintains its corporate website at www.shivacement.com .

Shiva cement Limited has announced the re-appointment of Mr. Manoj Kumar Rustagi as Whole-time Director and CEO for an extended three-year term. The decision was approved by the company's board of directors during their meeting held on March 23, 2026.

Board Approval and Regulatory Compliance

The board of directors, acting on the recommendation of the Nomination and Remuneration Committee, approved Mr. Rustagi's re-appointment for a period of three years with effect from June 26, 2026, to June 25, 2029. The re-appointment is subject to approval from the company's shareholders.

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in corporate governance matters. The company has also referenced SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in providing the necessary regulatory disclosures.

Leadership Profile and Experience

Mr. Manoj Kumar Rustagi brings extensive experience to his continued role as CEO. He has been associated with Shiva Cement Limited since February 28, 2017, and currently serves as Chief Sustainability Officer of JSW Cement Limited, the holding company.

His educational background includes:

• Bachelor's degree in engineering from the Birla Institute of Technology & Science
• Post graduate programme in Management from the Indian School of Business

Professional Background

Mr. Rustagi has accumulated 30 years of experience across multiple sectors, with particular expertise in cement and steel manufacturing and information technology. His previous associations include:

• IBM India Private Limited
• Jindal Steel & Power Limited
• Jindal Strips Limited
• Satyam Computer Services Limited

In his current capacity, he is responsible for sustainability, research and development functions, contributing significantly to strategic initiatives and new business development.

Corporate Governance and Documentation

The company confirmed that Mr. Rustagi is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or any other authority. The formal communication was signed by Ishika Sharma, Company Secretary & Compliance Officer (ACS: 70573), and includes digital signatures for authentication.

The detailed disclosure document, including Annexure A with comprehensive director profile information, has been made available on the company's website at https://shivacement.com as part of their commitment to transparency and regulatory compliance.