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Indian (NIFTY) Steel Industry Analysis

UpdatedJan 22, 2026
DataAggregated Company Financials
Companies171
  • 7D-3.2%
  • 3M-1.1%
  • 1Y14.0%
  • YTDn/a

The Steel industry is down 1.6% over the last week with Tata Steel the worst performer, down 2.6%. On the other hand Jindal Saw is actually up 21%. This takes the industry's 12 month performance to a gain of 12%. Looking forward, earnings are forecast to grow by 33% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 22 Jan 2026₹12.9t₹8.9t₹449.0b21.5x28.8x1.5x
Sat, 20 Dec 2025₹12.4t₹8.7t₹447.1b22x27.6x1.4x
Mon, 17 Nov 2025₹12.9t₹8.7t₹448.0b23.2x28.9x1.5x
Wed, 15 Oct 2025₹12.8t₹8.5t₹405.4b23.9x31.6x1.5x
Fri, 12 Sep 2025₹12.7t₹8.5t₹405.1b24.2x31.3x1.5x
Sun, 10 Aug 2025₹12.1t₹8.5t₹396.7b23.1x30.4x1.4x
Tue, 08 Jul 2025₹12.3t₹8.4t₹362.1b24x33.8x1.5x
Thu, 05 Jun 2025₹11.8t₹8.4t₹361.0b22.1x32.7x1.4x
Sat, 03 May 2025₹10.9t₹8.4t₹346.8b20.8x31.3x1.3x
Mon, 31 Mar 2025₹11.4t₹8.4t₹359.6b19.8x31.7x1.4x
Wed, 26 Feb 2025₹10.5t₹8.4t₹359.6b20.4x29.3x1.3x
Fri, 24 Jan 2025₹11.2t₹8.4t₹387.0b23.1x28.9x1.3x
Sun, 22 Dec 2024₹11.5t₹8.3t₹386.0b25.4x29.7x1.4x
Tue, 19 Nov 2024₹11.2t₹8.4t₹390.2b23.3x28.7x1.3x
Thu, 17 Oct 2024₹12.2t₹8.4t₹360.4b24.7x33.8x1.4x
Sat, 14 Sep 2024₹12.1t₹8.5t₹361.8b24.5x33.3x1.4x
Mon, 12 Aug 2024₹11.4t₹8.4t₹360.6b23.7x31.7x1.4x
Wed, 10 Jul 2024₹12.3t₹8.5t₹370.5b24.4x33.1x1.4x
Fri, 07 Jun 2024₹11.6t₹8.4t₹382.4b21.9x30.3x1.4x
Sun, 05 May 2024₹11.6t₹8.5t₹423.9b24x27.4x1.4x
Tue, 02 Apr 2024₹10.8t₹8.4t₹419.9b22.5x25.6x1.3x
Thu, 29 Feb 2024₹10.2t₹8.4t₹419.9b23.2x24.3x1.2x
Sat, 27 Jan 2024₹10.3t₹8.7t₹407.1b24.3x25.4x1.2x
Mon, 25 Dec 2023₹10.0t₹8.7t₹351.4b22.2x28.5x1.2x
Wed, 22 Nov 2023₹9.3t₹8.7t₹351.3b20.8x26.4x1.1x
Fri, 20 Oct 2023₹9.1t₹8.6t₹340.8b19.3x26.7x1.1x
Sun, 17 Sep 2023₹9.1t₹8.6t₹339.0b17.9x26.8x1.1x
Tue, 15 Aug 2023₹8.3t₹8.6t₹338.8b16.4x24.6x1x
Thu, 13 Jul 2023₹7.9t₹8.5t₹390.8b15.3x20.1x0.9x
Sat, 10 Jun 2023₹7.2t₹8.5t₹394.5b15.2x18.2x0.8x
Mon, 08 May 2023₹7.0t₹8.3t₹428.7b14.5x16.3x0.8x
Wed, 05 Apr 2023₹6.6t₹8.4t₹517.1b13.4x12.9x0.8x
Fri, 03 Mar 2023₹6.6t₹8.4t₹517.1b13.4x12.7x0.8x
Sun, 29 Jan 2023₹6.8t₹8.4t₹668.9b13.2x10.1x0.8x
Price to Earnings Ratio

10.1x


Total Market Cap: ₹6.8tTotal Earnings: ₹668.9bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 27.1x202420252026
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 27.1x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have declined 12% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Indian Steel compare with similar industries?

IN Market-3.07%
Materials-2.76%
Metals and Mining-1.49%
Steel-3.17%
Gold14.61%
Diversified Metals and Mining2.67%
Aluminum-2.14%
Copper-2.58%
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
JINDALSAW Jindal Saw₹193.6121.0%
+₹21.4b		-23.3%PE11x
532144 Welspun₹749.301.5%
+₹2.9b		-3.9%PE9.1x
JAIBALAJI Jai Balaji Industries₹68.554.1%
+₹2.4b		-55.6%PE21.3x
500245 Kirloskar Ferrous Industries₹456.951.0%
+₹733.7m		-24.5%PE23x
JINDALSTEL Jindal Steel₹1.04k0.07%
+₹714.1m		16.1%PE38.7x

Latest News

532144
₹749.30
Welspun
7D
1.5%
1Y
-3.9%
SAIL
₹146.45
Steel Authority of India
7D
-3.9%
1Y
36.7%

SAIL: Overseas Mineral Expansion Will Constrain Margins And Limit Earnings Upside

Analysts have raised their fair value estimate for Steel Authority of India from ₹126.23 to ₹130.88, citing updated assumptions for the discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Bullish analysts focus on how the revised fair value estimate for Steel Authority of India reflects updated assumptions around discount rates, revenue growth, margins, and future P/E multiples.
JINDALSAW
₹193.61
Jindal Saw
7D
21.0%
1Y
-23.3%

Jindal Saw Limited Just Beat Revenue By 23%: Here's What Analysts Think Will Happen Next

Jan 21
Jindal Saw Limited Just Beat Revenue By 23%: Here's What Analysts Think Will Happen Next
534600
₹71.67
JTL Industries
7D
2.5%
1Y
-32.8%
JINDALSTEL
₹1,041.40
Jindal Steel
7D
0.07%
1Y
16.1%
533758
₹1,877.85
APL Apollo Tubes
7D
-3.0%
1Y
20.4%

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

Analysts have raised their price target on APL Apollo Tubes to ₹1,985 from ₹1,961, citing slightly higher assumptions for revenue growth, profit margins and future P/E, along with a modestly lower discount rate in their updated models. What's in the News A board meeting is scheduled on Jan 22, 2026, to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
JSL
₹749.95
Jindal Stainless
7D
-5.6%
1Y
18.4%

The Return Trends At Jindal Stainless (NSE:JSL) Look Promising

Jan 19
The Return Trends At Jindal Stainless (NSE:JSL) Look Promising
508875
₹507.15
Nitin Castings
7D
14.2%
1Y
-24.1%
JAIBALAJI
₹68.55
Jai Balaji Industries
7D
4.1%
1Y
-55.6%
KIOCL
₹344.80
KIOCL
7D
-9.1%
1Y
-2.2%
512455
₹1,143.05
Lloyds Metals and Energy
7D
-7.8%
1Y
-17.0%

512455: Upcoming Tata Steel Decision And Land Expansion Will Drive Future Upside

Analysts have maintained their fair value estimate for Lloyds Metals and Energy at ₹1,692, citing only minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions that do not materially change their overall price target view. What's in the News A board meeting is scheduled for Dec 31, 2025 to approve the allotment of equity shares under the Lloyds Metals and Energy Limited Employee Stock Option Plan 2017, approve equity shares upon conversion of preferentially issued convertible warrants to promoter and non promoter groups, and consider other matters (company filing).
526371
₹78.67
NMDC
7D
-6.1%
1Y
19.8%

526371: Overseas Resource Expansion And Dividend Decisions Will Shape 2025 Outlook

Analysts have modestly adjusted their price expectations for NMDC, keeping the fair value view broadly unchanged at ₹77.12 while fine tuning assumptions around discount rate, revenue growth, profit margin and future P/E to reflect updated risk and earnings profiles. What's in the News NMDC is exploring acquisitions and investments in Africa, the Middle East, Latin America and Southeast Asia, including both operating mines and virgin mineral blocks where pre feasibility work supports commercial viability (Key Developments).
518075
₹200.60
Suraj Products
7D
17.2%
1Y
-55.2%
500228
₹1,175.20
JSW Steel
7D
-0.6%
1Y
27.8%

500228: Reorganization And Output Trends Will Shape A Balanced Outlook

Analysts have nudged their fair value estimate for JSW Steel slightly higher from ₹1,178.42 to ₹1,182.24, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for January 23, 2026, to consider the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
500470
₹184.35
Tata Steel
7D
-2.6%
1Y
43.0%

500470: Future Results Will Reflect Pellet Expansion And Contested Tax And Sukinda Obligations

Analysts have nudged their fair value estimate for Tata Steel from ₹185.77 to ₹188.77 per share, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E that modestly refine their outlook on the company. What's in the News Tata Steel reported provisional production for Q3 FY2026, with Tata Steel India at 6.34 million tons, Tata Steel Netherlands at 1.68 million tons and Tata Steel Thailand at 0.31 million tons, alongside nine month production of 17.23 million tons, 5.05 million tons and 1.01 million tons respectively (company announcement of operating results).
500245
₹456.95
Kirloskar Ferrous Industries
7D
1.0%
1Y
-24.5%