Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Steel Industry Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies171
  • 7D3.9%
  • 3M11.7%
  • 1Y33.4%
  • YTDn/a

Over the last 7 days, the Steel industry has risen 3.9%, driven by gains from JSW Steel of 2.5%. This means that the industry has gained 33% over the past year. As for the next few years, earnings are expected to grow by 35% per annum.

Industry Valuation and Performance

Has the Indian Steel Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026₹14.3t₹9.1t₹489.5b21.2x29.2x1.6x
Sun, 25 Jan 2026₹12.9t₹8.9t₹466.1b21x27.8x1.4x
Tue, 23 Dec 2025₹12.5t₹8.7t₹447.1b22.8x28x1.4x
Thu, 20 Nov 2025₹12.8t₹8.7t₹447.9b23x28.6x1.5x
Sat, 18 Oct 2025₹12.9t₹8.5t₹405.4b23.7x31.7x1.5x
Mon, 15 Sep 2025₹12.7t₹8.5t₹405.1b23.9x31.3x1.5x
Wed, 13 Aug 2025₹12.1t₹8.5t₹397.0b22.8x30.5x1.4x
Fri, 11 Jul 2025₹12.2t₹8.4t₹362.1b23.7x33.8x1.5x
Sun, 08 Jun 2025₹12.0t₹8.4t₹360.9b22.4x33.3x1.4x
Tue, 06 May 2025₹10.9t₹8.4t₹344.7b20.5x31.6x1.3x
Thu, 03 Apr 2025₹11.6t₹8.4t₹359.5b20.1x32.2x1.4x
Sat, 01 Mar 2025₹10.3t₹8.4t₹359.6b19.3x28.6x1.2x
Mon, 27 Jan 2025₹11.1t₹8.3t₹369.7b23.2x29.9x1.3x
Wed, 25 Dec 2024₹11.5t₹8.3t₹386.0b25.4x29.9x1.4x
Fri, 22 Nov 2024₹11.1t₹8.4t₹390.1b23.3x28.5x1.3x
Sun, 20 Oct 2024₹12.1t₹8.4t₹360.0b24.9x33.7x1.4x
Tue, 17 Sep 2024₹12.5t₹8.5t₹361.9b25x34.6x1.5x
Thu, 15 Aug 2024₹11.3t₹8.5t₹361.2b22.7x31.2x1.3x
Sat, 13 Jul 2024₹12.2t₹8.5t₹370.5b24.5x32.8x1.4x
Mon, 10 Jun 2024₹11.8t₹8.4t₹382.3b23.3x31x1.4x
Wed, 08 May 2024₹11.3t₹8.5t₹424.0b22.9x26.6x1.3x
Fri, 05 Apr 2024₹10.9t₹8.4t₹419.9b23.5x26.1x1.3x
Sun, 03 Mar 2024₹10.7t₹8.4t₹419.9b23.6x25.4x1.3x
Tue, 30 Jan 2024₹10.5t₹8.7t₹407.4b23.7x25.7x1.2x
Thu, 28 Dec 2023₹10.2t₹8.7t₹351.4b22.5x29x1.2x
Sat, 25 Nov 2023₹9.3t₹8.7t₹351.3b20.7x26.4x1.1x
Mon, 23 Oct 2023₹8.9t₹8.6t₹381.1b19x23.5x1x
Wed, 20 Sep 2023₹9.0t₹8.6t₹339.0b18x26.7x1.1x
Fri, 18 Aug 2023₹8.2t₹8.6t₹340.3b16.2x24.2x1x
Sun, 16 Jul 2023₹8.0t₹8.5t₹390.8b15.5x20.4x0.9x
Tue, 13 Jun 2023₹7.2t₹8.5t₹394.5b15x18.3x0.8x
Thu, 11 May 2023₹7.0t₹8.3t₹428.7b14.7x16.2x0.8x
Sat, 08 Apr 2023₹6.7t₹8.4t₹517.1b14.5x12.9x0.8x
Mon, 06 Mar 2023₹6.7t₹8.4t₹517.1b13.5x12.9x0.8x
Price to Earnings Ratio

12.9x


Total Market Cap: ₹6.7tTotal Earnings: ₹517.1bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 27.7x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Steel industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 27.7x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 2.6% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Comparison

How does Indian Steel compare with similar industries?

IN Market0.72%
Materials1.93%
Metals and Mining4.52%
Steel3.92%
Diversified Metals and Mining6.36%
Aluminum4.14%
Copper3.39%
Gold2.46%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
500228 JSW Steel₹1.27k2.5%
+₹76.8b		33.2%PE41.5x
500470 Tata Steel₹212.352.0%
+₹51.2b		54.8%PE28.9x
512455 Lloyds Metals and Energy₹1.23k7.6%
+₹47.6b		20.7%PE27.3x
SAIL Steel Authority of India₹165.714.4%
+₹28.7b		57.8%PE24.5x
JINDALSTEL Jindal Steel₹1.24k2.2%
+₹27.6b		45.3%PE64x

Latest News

512455
₹1,232.65
Lloyds Metals and Energy
7D
7.6%
1Y
20.7%

512455: Tata Alliance And Capacity Upgrades Will Support Future Upside

The updated analyst price target for Lloyds Metals and Energy shifts slightly from about ₹1,724 to roughly ₹1,703, as analysts adjust their views on discount rate, revenue growth, profit margins, and future P/E assumptions in their models. What's in the News The Board approved the incorporation of a wholly owned subsidiary in Maharashtra, with an estimated capital outlay of over ₹2.52b in tranches, focused on skilling, leadership, entrepreneurship, and employment-linked programs aligned with regional and global workforce standards (Board meeting, Feb 3, 2026).
500470
₹212.35
Tata Steel
7D
2.0%
1Y
54.8%
520111
₹2,455.60
Ratnamani Metals & Tubes
7D
-2.0%
1Y
0.6%

520111: Upcoming Results Meeting Will Shape Expectations For Fairly Valued Shares

Analysts have reduced their price target on Ratnamani Metals & Tubes from ₹2,916.50 to ₹2,746.80, reflecting the application of a lower future P/E multiple along with slightly revised assumptions for revenue growth, profit margins and the discount rate. What's in the News A board meeting is scheduled on February 6, 2026, to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
526371
₹81.80
NMDC
7D
2.2%
1Y
30.8%

526371: Overseas Expansion Moves And Dividend Policy Will Shape 2026 Outlook

Analysts have nudged their fair value estimate for NMDC up from about ₹77.12 to roughly ₹81.41, citing updated assumptions around revenue growth, discount rate and forward P/E that modestly shift their valuation framework. What's in the News The board approved a first interim dividend of ₹2.50 per equity share of face value ₹1 for the 2025-26 financial year, with shareholders on record as of 13 February 2026 eligible to receive the payout within the timelines set under the Companies Act, 2013 (company filing).
SAIL
₹165.71
Steel Authority of India
7D
4.4%
1Y
57.8%
JINDALSTEL
₹1,244.20
Jindal Steel
7D
2.2%
1Y
45.3%

JINDALSTEL: Raigarh Expansion And Production Gains Will Support Measured Future Potential

Analysts have nudged their fair value estimate for Jindal Steel up from about ₹1,136 to roughly ₹1,179. This reflects updated assumptions around discount rate, revenue growth, profit margins and future P/E.
500228
₹1,267.80
JSW Steel
7D
2.5%
1Y
33.2%

500228: Reorganization Moves And Steady Output Will Shape A Balanced Outlook

Analysts have raised their JSW Steel price target from ₹1,183.06 to ₹1,214.94 after updating assumptions on discount rate, revenue growth, profit margin and future P/E, reflecting a refreshed view of the company’s valuation inputs. What's in the News Reported consolidated crude steel production of 2.475 million tons for January 2026 compared with 2.518 million tons in January 2025, giving investors a fresh monthly read on operating activity (Announcement of Operating Results).
533758
₹2,232.55
APL Apollo Tubes
7D
2.1%
1Y
55.3%

533758: Upcoming Result Review Will Support A Slightly Firmer Yet Balanced Outlook

Analysts have raised their price target for APL Apollo Tubes from ₹2,176 to ₹2,217, reflecting updated assumptions around the discount rate, revenue growth of about 18.4%, a profit margin near 6.0% and a slightly higher future P/E multiple. What's in the News A board meeting is scheduled for January 22, 2026, at 12:30 Indian Standard Time to review and approve unaudited standalone and consolidated financial results.
506022
₹131.20
Prakash Industries
7D
-4.9%
1Y
-7.7%
KIOCL
₹337.35
KIOCL
7D
-1.0%
1Y
45.5%
KIRLOSIND
₹2,834.60
Kirloskar Industries
7D
-4.6%
1Y
-12.2%
500245
₹397.05
Kirloskar Ferrous Industries
7D
-5.2%
1Y
-12.8%

500245: Upcoming Board Decisions And Dividend Consideration Will Support Bullish Outlook

Analysts have trimmed their price target for Kirloskar Ferrous Industries from ₹659.50 to ₹602.00. They cite updated assumptions that include a higher discount rate, a slightly different revenue growth outlook, a modestly adjusted profit margin profile, and a lower future P/E expectation.
504614
₹552.35
Sarda Energy & Minerals
7D
7.7%
1Y
21.7%
BHARATCOAL
₹32.74
Bharat Coking Coal
7D
-3.5%
1Y
n/a
513097
₹443.75
Shivalik Bimetal Controls
7D
-10.8%
1Y
9.2%
522285
₹76.91
Jayaswal Neco Industries
7D
-2.8%
1Y
143.8%