Shiva Cement Ltd - Due diligence report

A 360° intelligence report on Shiva Cement: trust score, financial health, credit view, compliance, directors, growth and distress signals -…

1985-08-12 Sundargarh, Orissa Active Listed Active Compliant
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SC Shiva Cement Ltd
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Shiva Cement — 360° Intelligence Report

Generated from MCA filings & public records
59/100
Trust Score
Moderate

Shiva Cement is assessed as Moderate with a Trust Score of 59/100. Shiva Cement is an active public limited indian non-government company incorporated in 1985, operating in the Manufacturing sector. The company has shown revenue growth across its recent filed years. It reported a loss in its latest filed year. Based on MCA filings and public records, it currently shows a moderate compliance risk and high financial risk profile.

Report generated on 06 Jul 2026 from the latest processed filings. Shiva Cement Ltd snapshot & full profile →

Financial Health › Caution
Overall Assessment CautionWeakNeutralGoodStrong Good
Compliance › Neutral

Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.

02

Score Card

Higher is safer · rule-based & explainable
Trust ScoreModerate
59/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreModerate
50/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreCaution Indicated
25/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreCaution Indicated
25/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
90/100
Board strength, DIN status, churn and network.
Growth ScoreLow Risk
75/100
Revenue, profit, asset and hiring momentum.
Distress ScoreModerate
60/100
Early-warning signals - higher means fewer warnings.
03

Financial Intelligence Dashboard

Standalone · 5 filed year(s)

Unlock the full 5-year financial dashboard with charts and year-wise figures.

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Scores and observations on this page are already computed from the real filings - only the underlying figures are locked.

04

Credit & Compliance Intelligence

Why the scores are what they are
Credit Risk Score: 25/100 Caution Indicated
  • Negative operating earnings - debt service depends on external support.
  • Open charges exceed net worth - secured lenders rank ahead.
  • Elevated gearing (D/E 38%).
  • Externally credit-rated (A+).

Charges position: 4 open (960.80 cr) · 26 satisfied (1,148.41 cr).

Banking relationships (from registered charges)
LenderChargesAmount
Others2 48.0 cr
Axis Bank Limited3 48.0 cr
Idbi Bank Limited4 48.0 cr
State Bank Of India1 48.0 cr
Industrial Finance Corporation Of India2 48.0 cr
Canara Bank1 48.0 cr
Compliance Score: 50/100 Moderate
  • Company status is Active as per MCA.
  • Annual filings current (balance sheet Mar 2025).
  • Flagged by authority: BSE, SEBI.
  • Litigation present in 3 court forum(s).
  • 1 active GST registration(s).
Legal cases on record (3)
05

Director Intelligence

Stability score: 90/100
NameDIN / PANDesignationAppointedTenureDIN status
MANOJ KUMAR RUSTAGI 01234567 Director 01/04/2018 6 yrs Approved
MANOJ KUMAR RUSTAGI 01234567 Director 01/04/2018 6 yrs Approved
JAGDISH CHANDRA TOSHNIWAL 01234567 Director 01/04/2018 6 yrs Approved
SUDESHNA BANERJEE 01234567 Director 01/04/2018 6 yrs Approved
GIRISH MENON 01234567 Director 01/04/2018 6 yrs Approved
Shouvik Chakraborty 01234567 Director 01/04/2018 6 yrs Approved
SANJAY SHARMA 01234567 Director 01/04/2018 6 yrs Approved
NARINDER SINGH KAHLON 01234567 Director 01/04/2018 6 yrs Approved
GIRISH MENON 01234567 Director 01/04/2018 6 yrs Approved
Girish Unnikrishnan Menon 01234567 Director 01/04/2018 6 yrs Approved
Ishika Sharma 01234567 Director 01/04/2018 6 yrs Approved
  • 11 directors on the board.
  • No disqualified or deactivated DINs.
  • 2 director exit(s) in the last 3 years.
  • Average tenure above 5 years.
06

Ownership & Group Intelligence

As per FY 2025 annual return
Promoter holding
64.27%
Public / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
-
Group entities
-
Capital events
-

Promoters hold a minority stake - exact percentages are part of the full report.

Key managerial personnel: MANOJ KUMAR RUSTAGI (CEO) · MANOJ KUMAR RUSTAGI (CEO) · GIRISH MENON (CFO) · GIRISH MENON (CFO)

Full shareholding pattern, group structure & capital events →

07

Risk Intelligence Center

Growth 75 · Distress 60
Growth signals & trust indicators
Revenue acceleration: +1.42 over 4 year(s).
EPFO headcount growing - hiring signal.
Operating for 40+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Losses deepening year-on-year.
Compliance score is weak (50/100).
4 open charge(s) registered - assets are encumbered.
3 court case(s) on record - see the legal section for details.
08

Stakeholder Verdicts

Vendor · Banker · Investor
Vendor due diligence56/100
Review suggested
Suitability as a supplier / customer counterparty.
  • Check the compliance flags before onboarding.
  • 2 distress signal(s) - see Risk Center.
  • Financial filings available for verification.
Banker assessment31/100
Enhanced diligence advised
Indicative lending comfort for banks, NBFCs and trade credit.
  • Debt capacity assessed from filed statements.
  • 4 open charge(s) of 960.80 cr already registered.
  • Compliance gaps should be priced into terms.
Investor view54/100
Mixed indicators
Growth quality and scalability through an investor lens.
  • 2 growth signal(s) detected.
  • Margin and return trends computable from filings.
  • Management team looks stable.
09

MCA Filings & Events Timeline

Latest 15 events
14 Jul 2025
Last AGM held
Annual general meeting
11 Apr 2025
Director appointed
Ishika Sharma (Company Secretary)
31 Mar 2025
Latest balance sheet
Filed with ROC
11 Feb 2025
Director ceased
SNEHA BINDRA
11 Jun 2024
Charge satisfied
Others
15 Mar 2024
Director ceased
Shouvik Chakraborty
22 Jan 2024
Charge created
Axis Bank Limited - 75.00 cr
27 Dec 2023
Charge created
Others - 850.00 cr
21 Dec 2023
Director appointed
Shouvik Chakraborty (Director)
12 Oct 2023
Director appointed
MANOJ KUMAR RUSTAGI (CEO)
14 Sep 2023
Director appointed
MANOJ KUMAR RUSTAGI (CEO)
31 Mar 2023
Director ceased
BIMAL KUMAR MANGARAJ
21 Oct 2022
Director appointed
SANJAY SHARMA (Director)
12 Jul 2022
Director ceased
JAGDISH CHANDRA TOSHNIWAL
27 Apr 2022
Director ceased
SANJAY SHARMA
10

Key Observations

Auto-generated from the data above
Revenue grew 2.1x over the last 4 financial year(s).
Net profit margin moved from 24% to 0.86.
Debt-to-equity stands at 61% - leverage worth monitoring.
Net worth is positive.
11 active director(s) / partner(s); board looks stable and experienced.
1 active GST registration(s) indicate ongoing business operations.
Carries an external credit rating of A+ from Crisil.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a minority stake as per the FY 2025 annual return.
11

Peers & Related Companies

Full peer comparison →
CompanyCINLocation
Samaro Global Industries Private Limited U25209MH2019PTC331589 Mumbai, Maharashtra, India
Kanodia Cem Private Limited U26999UP2019PTC122527 Amethi, Uttar Pradesh, India
National Plastics Group L25209TN1989PLC017413 Madras-8., Tamil Nadu, India
Sipani Fibres Limited U85110KA1994PLC015388 Bangalore, Karnataka, India
Rmc L25111RJ1994PLC008698 Jaipur, Rajasthan, India
Ds Connectors And Cables India Private Limited U34200TN2010PTC077732 Chennai, Tamil Nadu, India
Hariharan Foundations U74140TN2000PTC045614 Royapettah, Tamil Nadu, India
Chemfab Alkalis Limited L24290TN2009PLC071563 Chennai, Tamil Nadu, India
12

Who Uses This Report

CA · CS · Banker · Investor · Vendor
Chartered Accountants (CA)

Verify Shiva Cement before audits and certifications: compliance score 50/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.

Company Secretaries (CS)

Track statutory health of Shiva Cement: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.

Bankers & NBFCs

Current banker verdict: Enhanced diligence advised. Credit risk score 25/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.

Investors & Analysts

Investor view: Mixed indicators. Growth score 75/100, margin trends, ownership structure and peer set for Shiva Cement - screening before a deeper diligence.

Vendors & Procurement Teams

Vendor verdict: Review suggested. Trust score 59/100, distress signals and MSME payment-delay disclosures - know whether Shiva Cement pays its suppliers before you extend credit terms.

Lawyers & Compliance Teams

Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for Shiva Cement - groundwork for KYC, onboarding and disputes.

13

Frequently Asked Questions

Is Shiva Cement an active company?

Shiva Cement has MCA status “Active” with a compliance score of 50/100 (Moderate).

Is Shiva Cement financially healthy?

Shiva Cement has a Financial Health Score of 25/100 (Caution Indicated) based on its filed financial statements.

Should I do business with Shiva Cement?

Its overall Trust Score is 59/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.

Who controls Shiva Cement?

Promoters hold a minority stake - exact percentages are in the full report. 11 active director(s) are on record.

Does Shiva Cement have loans or charges against its assets?

4 open charge(s) are registered against its assets, and 26 earlier charge(s) stand satisfied.

Is Shiva Cement up to date with its ROC filings?

Annual filings current (balance sheet Mar 2025). Overall compliance score: 50/100 (Moderate).

Is it risky to lend to Shiva Cement?

Its Credit Risk Score is 25/100 (Caution Indicated). Banker verdict: Enhanced diligence advised.

Disclaimer: This report is generated automatically from MCA filings and public records as available in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice. Verify from official sources and consult a qualified professional before any business, lending or investment decision. If you represent this company and believe any information is inaccurate or outdated, report it here and we will review promptly.