Shiva Cement Limited has announced that the grinding facility set up by Bhushan Power & Steel Limited (BPSL) in Sambalpur, Odisha, is now ready for commissioning. This development marks a significant milestone in the company's expansion plans and strategic partnership with BPSL.

Key Highlights

• The 1.0 MTPA cement grinding unit is set to commence commercial operations on September 4, 2025.
• The facility is located at BPSL's premises in Sambalpur, Odisha.
• This project is part of a strategic agreement between Shiva Cement and Bhushan Power & Steel Limited.

Project Background

The journey towards this achievement began with a series of corporate actions and agreements:

• July 25, 2024: Shiva Cement's board of directors passed a resolution regarding the grinding unit.
• September 19, 2024: Shareholders approved the setting up of the 1.0 MTPA cement grinding unit by BPSL.
• October 4, 2024: A binding Memorandum of Understanding (MOU) was signed with BPSL.
• December 11, 2024: An amendment to the MOU was executed.
• January 22, 2025: A formal Agreement was entered into with BPSL for the implementation of the project.

Strategic Implications

The commissioning of this grinding facility represents a significant step forward for Shiva Cement. It not only expands the company's production capabilities but also strengthens its partnership with Bhushan Power & Steel Limited. This move is expected to enhance Shiva Cement's market position in the region and potentially lead to improved operational efficiencies.

Management Statement

Ishika Sharma, Company Secretary of Shiva Cement Ltd, stated in the regulatory filing, "We are pleased to inform you that the Grinding Unit is ready for commissioning on 4 September 2025 and is fully prepared to commence commercial operations."

Looking Ahead

As the facility prepares to start operations, investors and industry observers will be keen to see how this new grinding unit impacts Shiva Cement's production output and market share in the coming months. The successful commissioning of this project could pave the way for further expansion and collaboration opportunities in the future.

Shiva Cement Limited continues to demonstrate its commitment to growth and strategic partnerships, positioning itself for a stronger presence in India's competitive cement industry.

Shiva Cement , a subsidiary of JSW Group, has reported mixed financial results for the first quarter while also announcing a significant operational change. The company's performance reflects both challenges and growth in the cement sector.

Financial Performance

Shiva Cement reported a net loss of ₹303.00 crore in the first quarter, widening from a loss of ₹216.00 crore in the same period last year. Despite the increased loss, the company's revenue saw a substantial rise, jumping to ₹1,006.00 crore from ₹96.60 crore year-over-year, marking a significant 941% increase.

The stark contrast between the revenue growth and the widening loss suggests that while Shiva Cement has significantly expanded its operations or market share, it faces challenges in managing costs and achieving profitability.

Strategic Move: Shifting of Registered Office

In a separate development, Shiva Cement's Board of Directors has approved a proposal to shift the company's registered office. The plan involves moving from the current location in Odisha to Maharashtra, specifically:

• Current Location: Village Telighana, PO: Birangatoli, Tehsil-Kutra, District-Sundargarh, Odisha
• Proposed Location: JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra

This decision is subject to various approvals, including those from shareholders, the Registrar of Companies, and the Regional Director (Central Government).

Corporate Governance

The company held its Board Meeting on July 18, which lasted from 3:45 PM to 7:25 PM. During this meeting, the Board approved the unaudited financial results for the quarter ended June 30, along with the proposal to shift the registered office.

Shiva Cement's financial results were reviewed by M/s Shah Gupta & Co., Chartered Accountants, Mumbai, the statutory auditors of the company.

The cement manufacturer continues to navigate a challenging market environment, balancing significant revenue growth with profitability concerns. The proposed shift of its registered office to Mumbai, a major financial hub, may signal strategic realignment as the company seeks to improve its financial performance and operational efficiency.