Shiva Mills Ltd.
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ABOUT
AI Sector View
AI GENERATEDTextiles
This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.
PROS
- Company is almost debt free
- Operating margins have improved to 4.1% from -0.3%
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Company has a low return on capital employed of -2.0%
- Company has a low return on equity of -2.5% over last 3 years
- Interest coverage is weak at -0.1x - earnings barely cover interest
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.42x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PAGEIND | 36184.20 | 53.40 | 40359.40 | 1.52 | 192.81 | -3.98 | 1420.45 | 7.89 | 73.60 | 20.35 |
| KPRMILL | 1170.30 | 43.85 | 40002.49 | 0.43 | 258.54 | 21.55 | 1935.52 | 14.77 | 20.16 | 19.37 |
| WELSPUNLIV | 200.05 | 68.08 | 18899.77 | 0.05 | 162.61 | 82.09 | 2795.45 | 23.66 | 6.41 | 11.53 |
| VTL | 587.40 | 20.06 | 17009.74 | 0.85 | 314.56 | 51.46 | 2703.08 | 13.31 | 8.91 | 18.11 |
| ARVIND | 572.70 | 37.62 | 15579.77 | 0.79 | 57.77 | 5.61 | 2500.96 | 24.65 | 15.30 | 9.64 |
| MANYAVAR | 542.70 | 32.73 | 13186.43 | 1.43 | 66.90 | 37.31 | 267.95 | 22.74 | 33.92 | 45.53 |
| PGIL | 2358.75 | 35.11 | 10895.19 | 0.61 | 99.23 | 51.37 | 1528.26 | 24.46 | 22.42 | 10.72 |
| SWANCORP | 284.90 | 39.94 | 8930.39 | 0.05 | -35.99 | -233.33 | 1013.75 | -16.44 | 4.50 | -0.38 |
| ICIL | 447.65 | 58.76 | 8865.90 | 0.34 | 63.22 | 67.28 | 1206.96 | 25.89 | 8.73 | 11.88 |
| GARFIBRES | 814.50 | 37.86 | 7953.46 | 1.10 | 64.60 | 21.56 | 482.37 | 31.35 | 20.98 | 18.70 |
| KUSUMGAR | 570.25 | 60.97 | 5987.13 | 0.00 | 426.47 | — | 2472.47 | — | 26.15 | 30.50 |
| SHIVAMILLS | 65.40 | 16.81 | 56.52 | 0.00 | 28.28 | 4624.80 | 380.97 | 914.30 | -0.06 | 11.90 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 33 | 42 | 35 | 47 | 44 | 48 | 36 | 41 | 38 | 30 | 34 | 37 | 38 | |
| 34 | 41 | 35 | 45 | 43 | 47 | 36 | 40 | 36 | 29 | 34 | 34 | 35 | |
| Operating Profit | -1 | 1 | 1 | 2 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 3 | 5 |
| OPM % | -1.91% | 1.90% | 1.61% | 4.06% | 1.92% | 2.02% | 0.39% | 1.63% | 2.85% | 4.50% | 1.84% | 7.08% | 11.90% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| -2 | -1 | -1 | 0 | -1 | -1 | -2 | -1 | -1 | -0 | -1 | 1 | 3 | |
| Tax % | 10.10% | 11.76% | 22.03% | -28.57% | 13.13% | 18.18% | 2.65% | 11.49% | 6.06% | 42.86% | 20.22% | -3.68% | 16.55% |
| Net Profit | -2 | -1 | -1 | 0 | -1 | -1 | -1 | -1 | -1 | -0 | -1 | 1 | 3 |
| -2 | -1 | -1 | 1 | -1 | -1 | -2 | -1 | -1 | -0 | -1 | 2 | 0 | |
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 170 | 169 | 175 | 164 | 139 | 213 | 159 | 158 | 169 | 139 | 140 | |
| 148 | 153 | 156 | 152 | 119 | 183 | 161 | 155 | 167 | 133 | 132 | |
| Operating Profit | 22 | 17 | 20 | 13 | 20 | 31 | -0 | 4 | 4 | 7 | — |
| OPM % | 13 | 10 | 12 | 8 | 15 | 15 | -0 | 2 | 2 | 5 | — |
| Other Income | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 2 | 1 | 2 |
| Interest | 6 | 6 | 8 | 6 | 3 | 1 | 1 | 1 | 1 | 0 | 0 |
| Depreciation | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 7 | 7 | 7 | 7 |
| 10 | 6 | 8 | 2 | 12 | 25 | -7 | -4 | -4 | -0 | 4 | |
| Tax % | 57 | 35 | 13 | 24 | 30 | 28 | 4 | 17 | 10 | 81 | 6 |
| Net Profit | 4 | 4 | 7 | 1 | 9 | 18 | -7 | -3 | -4 | -0 | 3 |
| EPS | 0 | 0 | 0 | 0 | 10 | 20 | -8 | -4 | -4 | -0 | — |
| Dividend Payout % | 0 | 31 | 18 | 0 | 10 | 6 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 895 | 4 | 8 | 1 | 10 | 20 | -8 | -4 | -4 | -0 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 0%
- 3 Years:
- -4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -7%
- 3 Years:
- -6%
- 1 Year:
- -15%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 1%
- 3 Years:
- -2%
- Last Year:
- 0%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 0 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| 11 | 69 | 74 | 74 | 82 | 99 | 91 | 88 | 84 | 84 | |
| 60 | 52 | 50 | 39 | 3 | 7 | 0 | 10 | 10 | 0 | |
| Trade Payables | 10 | 15 | 7 | 7 | 7 | 2 | 5 | 6 | 6 | 5 |
| 86 | 14 | 15 | 13 | 14 | 15 | 11 | 11 | 10 | 10 | |
| Total Liabilities | 167 | 159 | 155 | 141 | 115 | 132 | 116 | 123 | 118 | 107 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 83 | 81 | 80 | 76 | 70 | 65 | 64 | 63 | 59 | 55 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | |
| 47 | 46 | 39 | 34 | 27 | 45 | 15 | 31 | 25 | 29 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20 | 27 | 12 | |
| Cash & Bank | 5 | 2 | 5 | 0 | 4 | 2 | 11 | 1 | 0 | 5 |
| 31 | 29 | 31 | 31 | 14 | 21 | 22 | 7 | 6 | 5 | |
| Total Assets | 167 | 159 | 155 | 141 | 115 | 132 | 116 | 123 | 118 | 107 |
| Total Debt | 67 | 57 | 54 | 40 | 4 | 8 | 0 | 10 | 10 | 0 |
| Net Working Capital | 0 | 5 | 9 | 10 | 24 | 44 | 32 | 31 | 32 | 37 |
| Contingent Liabilities | 1 | 234 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Book Value per Share | 2289.14 | 89.74 | 95.57 | 95.27 | 104.99 | 124.65 | 115.55 | 111.30 | 106.93 | 107.03 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 19 | 18 | 16 | 43 | -3 | 27 | -17 | 4 | 16 | |
| Cash from Investing | -6 | -5 | -4 | -1 | -0 | -1 | -8 | -3 | -3 | -1 |
| Cash from Financing | 2 | -18 | -12 | -20 | -39 | 2 | -10 | 10 | -2 | -10 |
| 3 | -3 | 2 | -5 | 3 | -2 | 9 | -10 | -0 | 5 | |
| Free Cash Flow | 7 | 16 | 14 | 15 | 42 | -3 | 20 | -20 | 3 | 15 |
| OCF / Net Profit | 1.53 | 4.95 | 2.69 | 14.30 | 4.98 | -0.18 | -3.83 | 5.33 | -1.06 | -181.41 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 | 84 | 88 | 54 | 42 | 15 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 895.02 | 4.47 | 7.64 | 1.32 | 9.90 | 20.43 | -8.28 | -3.76 | -4.41 | -0.10 |
| Book Value (₹) | 2289.14 | 89.74 | 95.57 | 95.27 | 104.99 | 124.65 | 115.55 | 111.30 | 106.93 | 107.03 |
| Dividend per Share (₹) | 1.60 | 1.40 | 1.40 | 0.00 | 1.00 | 1.20 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1867.26 | 10.14 | 13.66 | 7.58 | 16.47 | 27.04 | -1.28 | 4.01 | 3.41 | 7.95 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 12.74% | 9.94% | 11.59% | 7.67% | 14.71% | 14.56% | -0.29% | 1.68% | 1.30% | 4.09% |
| Net Margin % | 2.63% | 2.28% | 3.76% | 0.70% | 6.16% | 8.29% | -4.50% | -2.06% | -2.25% | -0.06% |
| ROE % | 77.86% | 8.69% | 8.24% | 1.39% | 9.89% | 17.80% | -6.90% | -3.31% | -4.04% | -0.10% |
| ROCE % | 23.51% | 8.61% | 11.16% | 5.55% | 13.58% | 24.07% | -6.05% | -3.07% | -2.88% | -0.06% |
| 5.36% | 2.37% | 4.21% | 0.77% | 6.70% | 14.31% | -5.78% | -2.73% | -3.16% | -0.08% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 44 | 44 | 49 | 59 | 49 | 22 | 34 | 39 | 50 | 51 |
| Inventory Days | 101 | 100 | 88 | 81 | 79 | 61 | 69 | 54 | 61 | 72 |
| Payable Days | 17 | 40 | 35 | 22 | 29 | 12 | 10 | 16 | 16 | 21 |
| 129 | 104 | 102 | 117 | 99 | 71 | 92 | 78 | 96 | 102 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.90x | 0.74x | 0.65x | 0.49x | 0.04x | 0.07x | 0.00x | 0.11x | 0.11x | 0.00x |
| Interest Coverage (x) | 2.66x | 1.99x | 2.01x | 1.27x | 5.82x | 32.07x | -6.85x | -4.16x | -2.42x | -0.14x |
| 1.00x | 1.07x | 1.13x | 1.19x | 2.20x | 3.06x | 3.45x | 2.31x | 2.32x | 3.80x | |
| GROWTH | ||||||||||
| Revenue Growth % | 0.00% | -0.26% | 3.51% | -6.35% | -15.38% | 53.24% | -25.30% | -0.72% | 7.21% | -17.82% |
| Operating Profit Growth % | 0.00% | -22.18% | 20.70% | -38.00% | 62.24% | 51.71% | -101.51% | 856.94% | 5.81% | 83.95% |
| Net Profit Growth % | 0.00% | -13.61% | 70.76% | -82.68% | 648.32% | 106.43% | -140.54% | 54.61% | -17.30% | 97.65% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 54.61% | -17.30% | 97.65% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.74x | 0.64x | 0.46x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 22.85x | 18.22x | 5.49x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-27 - Shiva Mills Limited has submitted the Exchange a copy Srutinizers report of 11th Annual General Meeting held on August 27, 2026
2026-08-27 - Shiva Mills Limited has informed the Exchange regarding Change in Auditors of the company.
2026-08-27 - Outcome of 11th AGM.
2026-08-27 - Shiva Mills Limited has informed the Exchange regarding Proceedings of 11th Annual General Meeting held on August 27, 2026
2026-08-27 - Shiva Mills Limited has informed the Exchange regarding Proceedings of 11th Annual General Meeting'.
2026-08-20 - Shiva Mills Limited has informed the Exchange about Copy of Newspaper Publication regarding Special Window for transfer and dematerialisation of physical shares.
2026-08-07 - Shiva Mills Limited has informed the Exchange about copy of Newspaper Publication - Unaudited Financial Results for the quarter/three months ended 30.6.2026
2026-08-06 - Shiva Mills Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-28 - Shiva Mills Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for SHIVAMILLS
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Shiva Mills Ltd.
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