Shiva Cement Receives Approval to Shift Registered Office from Odisha to Maharashtra
Shiva Cement Limited has received regulatory approval from the Regional Director to shift its registered office from Odisha to Maharashtra, completing a strategic relocation announced earlier. The company reported mixed Q1 financial results with significant 941% revenue growth to ₹1,006.00 crore but wider net losses of ₹303.00 crore, reflecting expansion challenges in the cement sector.
Shiva Cement Limited, a JSW Group subsidiary, reported a substantial decline in Q4 FY2025 financial performance. Revenue dropped 26.42% to 106.34 crore rupees, EBITDA turned negative at -3.35 crore rupees, and net loss widened to 53.22 crore rupees. Annual performance also declined with increased net loss. The company announced management changes, with Mr. Ratan Kumar Das replacing Mr. Prasant Pradhan as Senior Managerial Personnel. Despite challenges, a recent rights issue improved the company's net worth, and management remains optimistic about future performance improvements.