Please find attached the outcome of the Board meeting held on 23rd October, 2026.

A SUBSIDIARY OF Date: 23rd October, 2026 BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code – 532323 Dear Sir/ Madam, Sub: Outcome of the Board Meeting dated October 23, 2026 Ref: Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) Pursuant to Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby inform you that the Board of Directors (“Board”) at its meeting held today i.e. 23rd October, 2026 has, inter-alia, approved the Unaudited Standalone Financial Results of the Company for the quarter and half year ended on 30th September, 2026. A copy of the said Financial Results containing disclosures required under Regulations 30 and 33 and other provisions of the Listing Regulations, as applicable, together with the Limited Review Report issued and signed by M/s Shah Gupta & Co., Chartered Accountants, Mumbai, the Statutory Auditors is enclosed herewith. This intimation will also be available on the website of the Company at https://shivacement.com/. The meeting of the Board of Directors commenced at 2:30 PM (IST) and concluded at 3:40 PM (IST). This is for your information and record. Thanking you. For Shiva Cement Limited Ishika Sharma Company Secretary & Compliance Officer SHIVA CEMENT LIMITED CIN L26942MH1985PLC470630 Registered Office address- Jindal Mansion, 5A, DR. G, Deshmukh Marg, Mumbai,400026,Maharashtra. E-mail-id: cs@shivacement.com | Phone (Off.): +91-2242861000| Website: www.shivacement.com Shah Gupta & Co. Bombay Mutual Building, Tel: + 91(22) 4085 1000 2nd Floor, Dr. D N Road, Fort, Email contact@shahgupta.com Mumbai – 400 001 Web: www.shahgupta.com Chartered Accountants Independent Auditors’ Review Report on unaudited quarterly and half yearly Financial Results of the Company pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 The Board of Directors Shiva Cement Limited 1. We have reviewed the accompanying Statement of Unaudited Financial Results of Shiva Cement Limited (“the Company”), for the quarter and half year ended September 30, 2026 (“the Statement”) attached herewith, being submitted by the Company, pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”). 2. This Statement, which is the responsibility of the Company’s Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations, including relevant circulars issued by the Securities Exchange Board of India from time to time as applicable to the Company. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under Section 133 of the Act, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. We draw attention to Note 5 to the Statement regarding the Company's ability to continue as a going concern. The Company has incurred a loss of Rs. 4,420.01 lakhs during the half-year ended September 30, 2026 and, as at that date, its accumulated losses amounted to Rs. 60,249.91 lakhs. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. The management's assessment supporting the use of the going concern basis of accounting, including the factors considered therein, has been disclosed in the aforesaid note. Accordingly, the accompanying financial results have been prepared on a going concern basis. Our conclusion on the Statement is not modified in respect of the above matter. For SHAH GUPTA & CO., Chartered Accountants Firm Registration No.: 109574W Heneel K Patel Partners M. No. 114103 Unique Document Identification Number (UDIN) for this document is: 26114103MPBGBT1197 Place: Mumbai Date: October 23, 2026 1 of 1 | Page Shiva Cement Limited Registered Office: Jindal Mansion, 5A, Dr. G. Deshmukh Marg, Mumbai-400026, Maharashtra Corporate Identity Number {CIN): L26942MH1985PLC470630 Statement of Unaudited Financial Results for the Quarter and half year ended September 30, 2026 (~ in lakh) Quarter Ended Half Year Ended Year Ended Sr.No. Particulars 30.09.2026 30.06.2026 30.09.2025 30,09.2026 30.09.2025 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) I Revenue from operations 11,270.01 15,149.42 8,211.19 26,419.44 18,771.99 43,516.77 II Other income 99.56 106.10 130.58 205.66 255.00 54208 Ill Total Income (l+lll 11,369.57 15 255.52 8,341.77 26,625.10 19,026.99 44,058.85 IV Expenses Cost of materials consumed 3,092.47 2,952.01 2,615.52 6,044.48 5,022.36 11,564.91 Changes in inventories of finished goods, work-in-progress (2,201.15) 1,246.66 (1,788.32) (954.49) 246.47 828.76 Employee benefits expense 676.76 749.82 721.25 1,426.58 1,400.92 2,759.53 Finance costs 3,533.02 3,495.65 3,143.21 7,028.68 6,172.90 13,10406 Deoreciation and amortisation exoense 1,141.31 1,121.67 1,038.96 2,262.98 2,026.99 4,175.14 Power and fuel 5,288.91 4,748.07 4,109.09 10,036.99 7,744.58 16,592.60 FreiQht and forwardinQ expense 734.50 779.25 588.68 1,513.76 1,601.76 3,875.32 Other expenses 1,947.25 2,808.12 1,563.70 4,755.37 2,552.61 6,542.24 Total Exoenses IIVl 14,213.07 17,901.25 11,992.09 32,114.35 26,768.59 59,442.56 V Loss before exceptional items (Ill-IV) (2,843.50) (2,645.73) (3,650.32) (5,489.25) (7,741.60) (15,383.71) VI Exceptional items [Refer note-4] . (186.04) VII Loss before tax IV+Vll (2,843.50) (2,645.73) (3,650.321 (5,489.25 (7,741.60) 115,569.75 VIII Tax Exoense Current tax - . . . . . Deferred tax (558.28 (510.95) (377.35 (1,069.23) (1,441.10) (3,016.50 IX Net loss for the oeriod/vear IVII-Vllll (2,285.22) (2,134.78) 13 272.97) (4,420.02) /6 300.50) 112,553.25) X Other comprehensive incomel(loss) i) Items that will not be reclassified to orofit and loss 20.56 99.32 18.48 119.87 14.38 29.47 ii) Income tax relating to items that will not be reclassified (5.35) [Showing first 8,000 characters — download PDF for full document]