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Indian (NIFTY) Steel Industry Analysis

UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies171
  • 7D-0.09%
  • 3M5.1%
  • 1Y29.4%
  • YTDn/a

Last week, the Steel industry hasn't moved much but Tata Steel is up 3.1% in that time. The past year has been better, since the industry has gained 29% in that time. Earnings are forecast to grow by 34% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Feb 2026₹13.8t₹9.1t₹488.3b21.9x28.3x1.5x
Thu, 15 Jan 2026₹13.2t₹8.7t₹445.2b22.8x29.6x1.5x
Sat, 13 Dec 2025₹12.6t₹8.7t₹447.2b22x28.1x1.4x
Mon, 10 Nov 2025₹13.1t₹8.6t₹422.7b22.9x30.9x1.5x
Wed, 08 Oct 2025₹13.0t₹8.5t₹405.5b24.3x32x1.5x
Fri, 05 Sep 2025₹12.4t₹8.5t₹405.4b23.9x30.6x1.5x
Sun, 03 Aug 2025₹12.0t₹8.5t₹395.5b22.8x30.3x1.4x
Tue, 01 Jul 2025₹12.2t₹8.4t₹361.2b23.7x33.9x1.5x
Thu, 29 May 2025₹11.8t₹8.4t₹358.4b21.8x32.9x1.4x
Sat, 26 Apr 2025₹11.1t₹8.4t₹359.4b20.8x30.8x1.3x
Mon, 24 Mar 2025₹11.6t₹8.4t₹359.6b21.2x32.2x1.4x
Wed, 19 Feb 2025₹10.4t₹8.4t₹359.5b19.5x29x1.2x
Fri, 17 Jan 2025₹11.2t₹8.3t₹386.1b24.3x29x1.3x
Sun, 15 Dec 2024₹12.2t₹8.3t₹386.0b26.7x31.5x1.5x
Tue, 12 Nov 2024₹11.6t₹8.3t₹391.8b25.2x29.6x1.4x
Thu, 10 Oct 2024₹12.2t₹8.5t₹362.0b24.2x33.8x1.4x
Sat, 07 Sep 2024₹11.7t₹8.5t₹363.6b24.4x32.3x1.4x
Mon, 05 Aug 2024₹11.8t₹8.5t₹360.0b24.7x32.7x1.4x
Wed, 03 Jul 2024₹12.2t₹8.5t₹369.7b24.5x32.9x1.4x
Fri, 31 May 2024₹11.4t₹8.4t₹382.3b21.5x29.8x1.3x
Sun, 28 Apr 2024₹11.5t₹8.5t₹423.1b24.9x27.3x1.4x
Tue, 26 Mar 2024₹10.3t₹8.4t₹419.9b21.8x24.4x1.2x
Thu, 22 Feb 2024₹10.5t₹8.4t₹419.8b23.5x24.9x1.2x
Sat, 20 Jan 2024₹10.3t₹8.7t₹359.0b24.3x28.6x1.2x
Mon, 18 Dec 2023₹10.0t₹8.7t₹351.4b22.1x28.5x1.2x
Wed, 15 Nov 2023₹9.0t₹8.7t₹352.6b20x25.5x1x
Fri, 13 Oct 2023₹9.0t₹8.6t₹338.4b19.7x26.7x1x
Sun, 10 Sep 2023₹9.1t₹8.6t₹338.8b18.7x26.9x1.1x
Tue, 08 Aug 2023₹8.3t₹8.6t₹338.6b16.8x24.6x1x
Thu, 06 Jul 2023₹7.7t₹8.5t₹390.4b14.7x19.7x0.9x
Sat, 03 Jun 2023₹7.0t₹8.5t₹395.2b15x17.6x0.8x
Mon, 01 May 2023₹6.9t₹8.3t₹534.5b14.4x12.9x0.8x
Wed, 29 Mar 2023₹6.5t₹8.4t₹517.1b13x12.5x0.8x
Fri, 24 Feb 2023₹6.7t₹8.4t₹517.5b13.2x13x0.8x
Price to Earnings Ratio

13x


Total Market Cap: ₹6.7tTotal Earnings: ₹517.5bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 27.5x202420252026
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 27.5x.
  • 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-0.39%
Materials-0.18%
Metals and Mining-0.67%
Steel-0.091%
Copper1.76%
Diversified Metals and Mining-1.15%
Aluminum-3.02%
Gold-3.12%
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
500470 Tata Steel₹205.751.8%
+₹45.6b		53.1%PE28x
JINDALSTEL Jindal Steel₹1.21k1.7%
+₹20.2b		44.6%PE62.3x
520111 Ratnamani Metals & Tubes₹2.15k7.2%
+₹10.2b		-14.4%PE25.8x
500228 JSW Steel₹1.25k0.2%
+₹7.0b		28.1%PE40.9x
GPIL Godawari Power & Ispat₹267.903.9%
+₹6.8b		53.1%PE24.2x

Latest News

513554
₹730.10
Mahamaya Steel Industries
7D
4.9%
1Y
213.3%
KIOCL
₹351.85
KIOCL
7D
-5.6%
1Y
34.4%
GPIL
₹267.90
Godawari Power & Ispat
7D
3.9%
1Y
53.1%

Market Still Lacking Some Conviction On Godawari Power & Ispat Limited (NSE:GPIL)

Feb 16
Market Still Lacking Some Conviction On Godawari Power & Ispat Limited (NSE:GPIL)
500460
₹131.75
Mukand
7D
2.9%
1Y
34.0%
520111
₹2,150.60
Ratnamani Metals & Tubes
7D
7.2%
1Y
-14.4%
SURYAROSNI
₹225.21
Surya Roshni
7D
-14.5%
1Y
-2.5%

SURYAROSNI: Pipe Order Wins Will Support A Stronger Long-Term Outlook

Analysts have trimmed their fair value estimate for Surya Roshni from ₹312 to ₹268 as they now apply a higher discount rate, expect lower revenue growth and margins, and use a richer P/E assumption in their valuation work. What's in the News A board meeting is scheduled on February 11, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
512455
₹1,187.35
Lloyds Metals and Energy
7D
-5.6%
1Y
5.0%

512455: Tata Steel Collaboration And Capacity Expansion Will Drive Future Upside

Analysts have lifted their price target for Lloyds Metals and Energy from ₹1,692 to ₹1,724, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E that together support a slightly higher fair value estimate. 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.
500470
₹205.75
Tata Steel
7D
1.8%
1Y
53.1%
JSL
₹756.25
Jindal Stainless
7D
-4.3%
1Y
28.1%

JSL: Shared Services Platform Will Support Margin Resilience And Future Upside

Analysts have raised their fair value estimate for Jindal Stainless from ₹863.92 to ₹876.00. The revision reflects updated assumptions on the discount rate, revenue growth, profit margin and future P/E.
526371
₹80.47
NMDC
7D
-4.7%
1Y
28.6%

526371: Overseas Acquisition Push Will Likely Pressure Future Share Returns

Analysts have nudged their price target on NMDC slightly higher, with fair value moving from ₹59.00 to about ₹59.34 as they factor in updated views on discount rates, revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for Feb 3, 2026, to review unaudited financial results for the quarter ended Dec 31, 2025, and to consider a proposal for an interim dividend for FY 2025-26, if any (Board Meeting).
SAIL
₹159.58
Steel Authority of India
7D
0.8%
1Y
51.5%
JINDALSTEL
₹1,210.90
Jindal Steel
7D
1.7%
1Y
44.6%

JINDALSTEL: Capacity Expansion Plans Will Heighten Execution Risks Despite Overvaluation

Narrative Update on Jindal Steel Analysts have lifted their fair value estimate for Jindal Steel from ₹840.05 to ₹857.20, citing model updates that incorporate a lower discount rate, slightly adjusted revenue growth assumptions, a higher projected profit margin, and a revised future P/E multiple. What's in the News Board meeting scheduled on January 30, 2026 to consider and approve unaudited standalone and consolidated financial results for the 3rd quarter and nine months ended December 31, 2025, for FY 2025-26 (company filing).
500228
₹1,247.60
JSW Steel
7D
0.2%
1Y
28.1%

500228: Future Joint Venture Moves Will Reshape Asset Portfolio And Support Bullish Outlook

Analysts have lifted their price target on JSW Steel from ₹1,270 to ₹1,420, citing adjustments to the discount rate, revenue growth, profit margin assumptions and a slightly lower future P/E multiple in their updated models. What's in the News JSW Steel maintained its production and sales guidance for FY 2026 at 30.5 million tonnes and 29.2 million tonnes respectively, signalling no change in its stated operating targets for the period (Corporate Guidance).
GALLANTT
₹547.45
Gallantt Ispat
7D
-5.5%
1Y
73.7%
BHARATCOAL
₹33.92
Bharat Coking Coal
7D
-7.3%
1Y
n/a
517146
₹415.00
Usha Martin
7D
-5.0%
1Y
35.9%