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Indian (NIFTY) Steel Industry Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies171
  • 7D1.7%
  • 3M-3.4%
  • 1Y17.7%
  • YTDn/a

In the last week, the Steel industry is up 1.7%, with Lloyds Metals and Energy up 8.7%. Meanwhile, PTC Industries actually underperformed within the industry, shrinking 5.6% in the last week. This takes the industry's 12 month performance to a gain of 18%. Looking forward, earnings are forecast to grow by 35% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026₹13.2t₹9.1t₹489.8b20.6x26.9x1.5x
Thu, 05 Mar 2026₹13.4t₹9.1t₹489.4b21.2x27.4x1.5x
Sat, 31 Jan 2026₹13.4t₹8.9t₹466.8b21.1x28.8x1.5x
Mon, 29 Dec 2025₹12.7t₹8.7t₹445.2b23.2x28.5x1.4x
Wed, 26 Nov 2025₹12.3t₹8.7t₹447.2b22.4x27.6x1.4x
Fri, 24 Oct 2025₹12.8t₹8.5t₹415.1b23.8x30.9x1.5x
Sun, 21 Sep 2025₹12.9t₹8.5t₹405.2b24.4x31.8x1.5x
Tue, 19 Aug 2025₹12.2t₹8.5t₹405.3b23.2x30.1x1.4x
Thu, 17 Jul 2025₹12.2t₹8.4t₹361.8b23.8x33.6x1.4x
Sat, 14 Jun 2025₹11.8t₹8.4t₹361.0b22.5x32.8x1.4x
Mon, 12 May 2025₹10.7t₹8.4t₹347.0b20x30.7x1.3x
Wed, 09 Apr 2025₹10.4t₹8.4t₹359.5b19.3x28.8x1.2x
Fri, 07 Mar 2025₹11.1t₹8.4t₹359.5b20.7x30.8x1.3x
Sun, 02 Feb 2025₹10.9t₹8.3t₹357.8b23x30.5x1.3x
Tue, 31 Dec 2024₹11.3t₹8.3t₹386.0b25.1x29.2x1.4x
Thu, 28 Nov 2024₹11.5t₹8.3t₹386.0b24.6x29.8x1.4x
Sat, 26 Oct 2024₹11.2t₹8.5t₹360.6b24.3x31.1x1.3x
Mon, 23 Sep 2024₹12.1t₹8.5t₹361.9b24.7x33.3x1.4x
Wed, 21 Aug 2024₹11.6t₹8.5t₹361.8b24.1x32.2x1.4x
Fri, 19 Jul 2024₹12.0t₹8.5t₹370.6b24.4x32.4x1.4x
Sun, 16 Jun 2024₹12.2t₹8.4t₹367.0b23.9x33.2x1.4x
Tue, 14 May 2024₹11.2t₹8.5t₹425.8b22.4x26.3x1.3x
Thu, 11 Apr 2024₹11.2t₹8.4t₹419.9b23.9x26.7x1.3x
Sat, 09 Mar 2024₹10.7t₹8.4t₹419.9b22.1x25.5x1.3x
Mon, 05 Feb 2024₹10.6t₹8.7t₹424.3b24.3x25x1.2x
Wed, 03 Jan 2024₹10.4t₹8.7t₹351.4b22.9x29.5x1.2x
Fri, 01 Dec 2023₹9.4t₹8.7t₹351.3b20.9x26.7x1.1x
Sun, 29 Oct 2023₹8.6t₹8.7t₹386.0b17.8x22.3x1x
Tue, 26 Sep 2023₹8.8t₹8.6t₹339.0b18x26x1x
Thu, 24 Aug 2023₹8.5t₹8.6t₹340.4b16.8x24.8x1x
Sat, 22 Jul 2023₹8.0t₹8.5t₹390.9b15.7x20.5x0.9x
Mon, 19 Jun 2023₹7.4t₹8.5t₹394.6b14.8x18.9x0.9x
Wed, 17 May 2023₹6.9t₹8.3t₹430.3b14.9x16x0.8x
Fri, 14 Apr 2023₹6.8t₹8.4t₹517.1b14.4x13.2x0.8x
Price to Earnings Ratio

13.2x


Total Market Cap: ₹6.8tTotal Earnings: ₹517.1bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 28.2x202420252026
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 28.2x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.5x.
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 Market0.0067%
Materials1.30%
Metals and Mining2.67%
Steel1.73%
Gold7.85%
Aluminum6.26%
Diversified Metals and Mining3.34%
Copper0.57%
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
512455 Lloyds Metals and Energy₹1.44k13.1%
+₹93.4b		28.3%PE32.8x
500470 Tata Steel₹196.102.2%
+₹53.7b		51.3%PE26.7x
526371 NMDC₹81.456.8%
+₹45.5b		32.8%PE10.4x
SAIL Steel Authority of India₹160.446.0%
+₹37.3b		53.3%PE23.8x
500228 JSW Steel₹1.13k1.0%
+₹27.1b		22.0%PE37.1x

Latest News

JINDALSTEL
₹1,134.00
Jindal Steel
7D
1.9%
1Y
43.4%

JINDALSTEL: Angul Capacity Expansion Will Support Stronger Long Term Prospects

Analysts have kept their price target for Jindal Steel steady at ₹1,393, indicating only small refinements in discount rate, revenue growth, profit margin and future P/E assumptions, rather than a shift in the overall outlook. What's in the News Completion of the 6 MTPA expansion at the Angul Integrated Steel Complex in Odisha, with commissioning of the third Basic Oxygen Furnace (BOF 3) of 3 MTPA.
500228
₹1,133.85
JSW Steel
7D
1.0%
1Y
22.0%

500228: Resource Security Plans And Steady Volumes Will Support A Balanced Outlook

Analysts have raised their price target for JSW Steel to ₹1,249.58 from ₹1,214.94, citing updated assumptions for revenue growth, profit margins, and a slightly higher future P/E ratio. What's in the News Board meeting scheduled for May 14, 2026, to review audited financial results for the quarter and year ended March 31, 2026.
500470
₹196.10
Tata Steel
7D
2.2%
1Y
51.3%

500470: Ongoing Tax And Regulatory Disputes Will Constrain Future Upside Potential

Analysts have trimmed Tata Steel's price target slightly from about ₹166.91 to roughly ₹166.48. This reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E that modestly adjust their valuation view.
SAIL
₹160.44
Steel Authority of India
7D
6.0%
1Y
53.3%

SAIL: Lower Discount Rate Will Support Margins While Multiple Pressure Persists

Analysts have raised their fair value estimate for Steel Authority of India from ₹130.88 to ₹142.78. They cite updated assumptions that reflect slightly higher revenue growth and profit margin expectations, a lower discount rate, and a modestly reduced future P/E multiple.
533758
₹1,914.25
APL Apollo Tubes
7D
-1.2%
1Y
33.0%

533758: Upcoming Results And Steady Assumptions Will Support An Undervalued Outlook

Analysts have kept their fair value estimate for APL Apollo Tubes steady at about ₹2,280 per share, with only minor tweaks to assumptions such as the discount rate, revenue growth and future P/E that do not materially change their overall view. What's in the News A board meeting is scheduled for January 22, 2026, at 12:30 Indian Standard Time to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
540082
₹170.00
Riddhi Steel and Tube
7D
-4.5%
1Y
164.5%
512455
₹1,436.60
Lloyds Metals and Energy
7D
13.1%
1Y
28.3%

512455: Capacity Expansion And New Subsidiaries Will Support Future Upside

Analysts have kept the price target for Lloyds Metals and Energy steady at ₹1,703, indicating only minor tweaks in the discount rate, revenue growth, profit margin assumptions and future P/E expectations, rather than a change in the overall valuation view. What's in the News A board meeting is scheduled on Mar 13, 2026 to consider the allotment of equity shares upon conversion of preferentially issued convertible warrants to non-promoters and the potential acquisition of an equity stake in a Cayman Islands entity through wholly owned subsidiary Lloyds Global Resources FZCO (company filing).
526371
₹81.45
NMDC
7D
6.8%
1Y
32.8%

526371: Rare Earth MoU And Interim Dividend Will Shape Balanced 2026 Outlook

Analysts have trimmed their price target on NMDC slightly to around ₹81 from about ₹81.50, reflecting small adjustments to assumptions for discount rate, revenue growth, profit margin and future P/E multiples while keeping the overall investment view broadly consistent. What's in the News Gujarat Mineral Development Corporation and NMDC signed an MoU to explore collaboration in the Rare Earth Elements sector, focusing on an integrated value chain in Gujarat that covers exploration, mining, beneficiation, processing and downstream applications linked to GMDC’s Ambadungar deposit (Key Developments).
KIOCL
₹344.00
KIOCL
7D
8.6%
1Y
55.5%
513436
₹58.00
Shah Alloys
7D
-3.3%
1Y
8.6%
513005
₹41.88
Chrome Silicon
7D
-3.5%
1Y
6.0%
508875
₹567.95
Nitin Castings
7D
-1.2%
1Y
-9.0%
513554
₹935.55
Mahamaya Steel Industries
7D
-1.5%
1Y
281.9%
513369
₹109.50
Krishanveer Forge
7D
-2.1%
1Y
42.2%
BHARATCOAL
₹32.64
Bharat Coking Coal
7D
9.0%
1Y
n/a
PSRAJ
₹242.00
S Raj Steels
7D
-5.1%
1Y
82.5%