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Indian (NIFTY) Steel Industry Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies170
  • 7D0.1%
  • 3M6.8%
  • 1Y14.1%
  • YTDn/a

Over the last 7 days, the Steel industry has dropped 1.1%, driven by declines in PTC Industries and Jindal Steel of 3.5% and 0.7%, respectively. On the other hand Lloyds Metals and Energy is actually up 5.0%. In the past year, the industry has gained 16%. 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
Thu, 19 Mar 2026₹13.4t₹9.1t₹489.4b20.6x27.3x1.5x
Sat, 14 Feb 2026₹13.8t₹9.1t₹489.5b21.8x28.2x1.5x
Mon, 12 Jan 2026₹12.8t₹8.7t₹445.2b22.4x28.8x1.5x
Wed, 10 Dec 2025₹12.3t₹8.7t₹447.2b21.8x27.4x1.4x
Fri, 07 Nov 2025₹12.9t₹8.6t₹421.2b22.9x30.6x1.5x
Sun, 05 Oct 2025₹13.2t₹8.5t₹405.5b25.1x32.4x1.5x
Tue, 02 Sep 2025₹12.0t₹8.5t₹405.4b23.6x29.7x1.4x
Thu, 31 Jul 2025₹12.3t₹8.5t₹384.2b22.5x31.9x1.4x
Sat, 28 Jun 2025₹12.2t₹8.4t₹361.1b23.5x33.8x1.5x
Mon, 26 May 2025₹11.9t₹8.4t₹354.2b21.8x33.5x1.4x
Wed, 23 Apr 2025₹11.3t₹8.4t₹359.5b20.8x31.5x1.3x
Fri, 21 Mar 2025₹11.5t₹8.4t₹359.6b20.5x32.1x1.4x
Sun, 16 Feb 2025₹10.4t₹8.4t₹359.5b20x29x1.2x
Tue, 14 Jan 2025₹10.7t₹8.3t₹386.4b22.8x27.8x1.3x
Thu, 12 Dec 2024₹12.3t₹8.3t₹386.0b26.9x31.8x1.5x
Sat, 09 Nov 2024₹11.8t₹8.3t₹395.6b23.9x29.8x1.4x
Mon, 07 Oct 2024₹12.6t₹8.5t₹362.0b24.4x34.7x1.5x
Wed, 04 Sep 2024₹11.8t₹8.5t₹363.6b24.2x32.3x1.4x
Fri, 02 Aug 2024₹12.0t₹8.4t₹359.7b24.6x33.4x1.4x
Sun, 30 Jun 2024₹12.1t₹8.4t₹369.2b25.1x32.7x1.4x
Tue, 28 May 2024₹11.8t₹8.5t₹402.5b22.2x29.4x1.4x
Thu, 25 Apr 2024₹11.5t₹8.5t₹419.9b24x27.3x1.4x
Sat, 23 Mar 2024₹10.3t₹8.4t₹419.9b21.8x24.4x1.2x
Mon, 19 Feb 2024₹10.4t₹8.4t₹419.6b23.3x24.8x1.2x
Wed, 17 Jan 2024₹10.4t₹8.7t₹351.2b23.8x29.6x1.2x
Fri, 15 Dec 2023₹9.9t₹8.7t₹351.4b21.9x28.1x1.1x
Sun, 12 Nov 2023₹8.9t₹8.7t₹348.1b19.9x25.5x1x
Tue, 10 Oct 2023₹8.7t₹8.6t₹339.2b18.1x25.6x1x
Thu, 07 Sep 2023₹9.1t₹8.6t₹338.8b18.1x26.8x1.1x
Sat, 05 Aug 2023₹8.3t₹8.5t₹336.3b16.6x24.8x1x
Mon, 03 Jul 2023₹7.5t₹8.5t₹390.4b14.8x19.2x0.9x
Wed, 31 May 2023₹6.9t₹8.4t₹394.8b14.5x17.4x0.8x
Fri, 28 Apr 2023₹6.9t₹8.3t₹535.0b14.5x12.9x0.8x
Sun, 26 Mar 2023₹6.5t₹8.4t₹517.1b13.1x12.6x0.8x
Price to Earnings Ratio

12.6x


Total Market Cap: ₹6.5tTotal Earnings: ₹517.1bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 27.9x202420252026
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 27.9x.
  • 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 Market-0.65%
Materials-1.53%
Metals and Mining-2.20%
Steel0.11%
Aluminum-2.51%
Gold-4.84%
Diversified Metals and Mining-6.75%
Copper-9.85%
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₹1.18k-1.7%
₹9.5b		-5.6%PE27.1x
533286 MOIL₹292.507.5%
+₹4.2b		-12.7%PE20.5x
SHYAMMETL Shyam Metalics and Energy₹785.900.8%
+₹1.7b		-7.8%PE22.6x
BANSALWIRE Bansal Wire Industries₹252.653.0%
+₹1.2b		-31.5%PE25.7x
513532 Pradeep Metals₹372.5512.5%
+₹712.4m		59.9%PE23.7x

Latest News

500470
₹190.55
Tata Steel
7D
-1.5%
1Y
19.8%
BANSALWIRE
₹252.65
Bansal Wire Industries
7D
3.0%
1Y
-31.5%
533286
₹292.50
MOIL
7D
7.5%
1Y
-12.7%
533758
₹1,930.15
APL Apollo Tubes
7D
-3.9%
1Y
27.8%

533758: Upcoming Board Results Will Support A Steady And Undervalued Outlook

The analyst price target for APL Apollo Tubes has inched up by about ₹5 to ₹2,279.82, with analysts pointing to largely unchanged assumptions on revenue growth, profit margins and future P/E that still support a similar valuation profile. What's in the News Board meeting scheduled for January 22, 2026, at 12:30 Indian Standard Time to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
500228
₹1,131.90
JSW Steel
7D
-3.5%
1Y
7.8%
532144
₹795.65
Welspun
7D
-5.7%
1Y
-8.7%

532144: Global Order Book And New Dubai Hub Will Support Bullish Outlook

Analysts have kept Welspun's fair value estimate steady at ₹1,160, with only small model tweaks to discount rate, revenue growth and profit margin assumptions guiding this unchanged price target. What's in the News Welspun Corp has incorporated a wholly owned subsidiary, Welspun International FZCO, in the Dubai Multi Commodities Centre in the UAE to handle global marketing for all products and to conduct trading in products and raw materials related to the parent and its subsidiaries (Key Developments).
512455
₹1,184.70
Lloyds Metals and Energy
7D
-1.7%
1Y
-5.6%

512455: New Subsidiary And Capacity Expansion Will Support Future Upside

Analysts have kept their price target for Lloyds Metals and Energy steady at around ₹1,703, with only small tweaks to assumptions such as a slightly higher discount rate and future P/E. This reflects a largely unchanged view on the company’s valuation drivers.
JSL
₹707.80
Jindal Stainless
7D
-5.2%
1Y
8.2%

JSL: Shared Services Platform Will Support Margin Resilience As Rail Projects Gain Traction

Analysts have inched their fair value estimate for Jindal Stainless up from ₹876 to about ₹879, reflecting slightly revised assumptions on discount rate, revenue growth, profit margin and future P/E that collectively support a marginally higher price target. What's in the News A board meeting is scheduled for Jan 21, 2026 to consider unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025, and to consider declaration of an interim dividend for FY 2025-26 (company filing).
SHYAMMETL
₹785.90
Shyam Metalics and Energy
7D
0.8%
1Y
-7.8%

SHYAMMETL: Upcoming Board Decisions Will Clarify Bullish Profitability Outlook

Analysts have trimmed their price target on Shyam Metalics and Energy from ₹1,350 to ₹1,200, reflecting updated assumptions around a higher discount rate, adjusted revenue growth expectations, a different profit margin profile, and a lower future P/E multiple. What's in the News Board meeting scheduled for January 24, 2026 to consider and take on record the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025, along with other business items as approved by the chair (Key Developments).
526371
₹77.89
NMDC
7D
-3.7%
1Y
13.2%

526371: Interim Dividend And Stable Assumptions Will Guide Measured 2026 Outlook

Analysts have trimmed their price target on NMDC to ₹81.41, a small adjustment that reflects slightly higher perceived risk in the discount rate. Revenue growth, profit margin and future P/E assumptions are broadly unchanged.
JINDALSTEL
₹1,138.10
Jindal Steel
7D
-7.1%
1Y
22.9%

JINDALSTEL: Capacity Expansion Plans Will Elevate Execution Risks Despite Overvaluation

Analysts now peg Jindal Steel's fair value at about ₹858 per share, versus the prior view of roughly ₹857, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E that slightly reshape their price target framework. What's in the News Reported consolidated steel production of 2.51 MT for the third quarter ended December 31, 2025, compared with 1.99 MT in the same quarter a year earlier, and 6.60 MT for the first nine months of FY 2025-26 compared with 6.01 MT a year earlier (company announcement of operating results).
532887
₹15.76
Neueon
7D
4.6%
1Y
n/a
500460
₹125.10
Mukand
7D
3.9%
1Y
31.5%
TIRUPATIFL
₹49.41
Tirupati Forge
7D
12.1%
1Y
47.7%
513532
₹372.55
Pradeep Metals
7D
12.5%
1Y
59.9%
504614
₹509.95
Sarda Energy & Minerals
7D
-7.4%
1Y
-5.8%