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Indian (NIFTY) Steel Industry Analysis

UpdatedJul 23, 2026
DataAggregated Company Financials
Companies173
  • 7D-0.03%
  • 3M-3.1%
  • 1Y14.0%
  • YTDn/a

The Steel is pretty flat in the last 7 days, but JSW Steel has stood out, gaining 3.3%. As for the the longer term, the industry is up 14% over the past 12 months. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Jul 2026₹14.4t₹9.5t₹737.7b20.5x19.5x1.5x
Sat, 20 Jun 2026₹15.0t₹9.5t₹712.4b22x21.1x1.6x
Mon, 18 May 2026₹15.1t₹9.4t₹689.3b22.5x21.9x1.6x
Wed, 15 Apr 2026₹14.1t₹9.1t₹489.8b22.6x28.8x1.6x
Fri, 13 Mar 2026₹13.4t₹9.1t₹489.4b21x27.4x1.5x
Sun, 08 Feb 2026₹13.9t₹9.1t₹489.2b22x28.3x1.5x
Tue, 06 Jan 2026₹13.5t₹8.7t₹445.2b23.8x30.2x1.5x
Thu, 04 Dec 2025₹12.5t₹8.7t₹447.2b22.3x27.9x1.4x
Sat, 01 Nov 2025₹13.2t₹8.6t₹420.5b24.2x31.5x1.5x
Mon, 29 Sep 2025₹12.7t₹8.5t₹405.4b23.4x31.3x1.5x
Wed, 27 Aug 2025₹12.1t₹8.5t₹405.3b23.5x29.8x1.4x
Fri, 25 Jul 2025₹12.4t₹8.4t₹376.6b23.1x33x1.5x
Sun, 22 Jun 2025₹11.7t₹8.4t₹361.0b22.1x32.5x1.4x
Tue, 20 May 2025₹11.8t₹8.4t₹352.8b21.7x33.4x1.4x
Thu, 17 Apr 2025₹11.0t₹8.4t₹359.5b19.8x30.7x1.3x
Sat, 15 Mar 2025₹10.9t₹8.4t₹359.5b19.5x30.3x1.3x
Mon, 10 Feb 2025₹11.1t₹8.4t₹364.6b22.5x30.4x1.3x
Wed, 08 Jan 2025₹11.5t₹8.3t₹386.0b25.4x29.9x1.4x
Fri, 06 Dec 2024₹12.0t₹8.3t₹386.1b26.3x31.1x1.4x
Sun, 03 Nov 2024₹11.7t₹8.4t₹333.7b24.5x34.9x1.4x
Tue, 01 Oct 2024₹12.7t₹8.4t₹360.1b25x35.2x1.5x
Thu, 29 Aug 2024₹11.9t₹8.5t₹363.6b23.9x32.7x1.4x
Sat, 27 Jul 2024₹11.9t₹8.5t₹352.5b24.7x33.6x1.4x
Mon, 24 Jun 2024₹12.3t₹8.4t₹369.0b24.3x33.3x1.5x
Wed, 22 May 2024₹12.0t₹8.5t₹401.5b23x30x1.4x
Fri, 19 Apr 2024₹10.9t₹8.4t₹419.9b23.4x26x1.3x
Sun, 17 Mar 2024₹9.8t₹8.4t₹419.9b20.9x23.3x1.2x
Tue, 13 Feb 2024₹10.0t₹8.4t₹413.8b23.1x24.2x1.2x
Thu, 11 Jan 2024₹10.2t₹8.7t₹351.4b23.4x29.1x1.2x
Sat, 09 Dec 2023₹9.7t₹8.7t₹351.4b21.3x27.5x1.1x
Mon, 06 Nov 2023₹8.6t₹8.6t₹324.5b18.5x26.5x1x
Wed, 04 Oct 2023₹8.9t₹8.6t₹339.1b18.1x26.3x1x
Fri, 01 Sep 2023₹8.6t₹8.6t₹338.8b17.5x25.5x1x
Sun, 30 Jul 2023₹8.3t₹8.5t₹335.1b15.8x24.7x1x
Price to Earnings Ratio

24.7x


Total Market Cap: ₹8.3tTotal Earnings: ₹335.1bTotal Revenue: ₹8.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 28.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Steel industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 19.5x which is lower than its 3-year average PE of 28.9x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have grown 30% per year over the last three years.
  • Revenues for these companies have grown 3.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Indian Steel compare with similar industries?

IN Market-0.43%
Materials0.55%
Metals and Mining-0.12%
Steel-0.028%
Diversified Metals and Mining0.86%
Copper-0.37%
Aluminum-1.66%
Gold-7.12%
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
500228 JSW Steel₹1.25k2.1%
+₹62.7b		20.6%PE12.3x
512455 Lloyds Metals and Energy₹1.93k4.9%
+₹50.6b		26.0%PE29.6x
JINDALSTEL Jindal Steel₹1.04k1.4%
+₹14.2b		4.1%PE31.6x
533758 APL Apollo Tubes₹1.83k2.1%
+₹10.6b		8.4%PE42.3x
539006 PTC Industries₹17.85k1.8%
+₹4.7b		22.7%PE263.5x

Latest News

520111
₹2,424.30
Ratnamani Metals & Tubes
7D
-7.3%
1Y
-13.3%
GALLANTT
₹537.75
Gallantt Ispat
7D
-21.6%
1Y
-16.6%
512455
₹1,932.90
Lloyds Metals and Energy
7D
4.9%
1Y
26.0%
Narrative Update • Jul 21

512455: Future Debt Raise Will Support Bullish Outlook On Earnings Potential

Analysts have adjusted the price target for Lloyds Metals and Energy to ₹2,200 from ₹2,100, reflecting updated assumptions on revenue growth, profit margins and forward P/E expectations in their valuation work. What's in the News Lloyds Metals and Energy held its 49th Annual General Meeting on June 19, 2026, where shareholders approved an alteration to the Articles of Association by deleting the Common Seal clause (Key Developments).
SAIL
₹160.91
Steel Authority of India
7D
-1.7%
1Y
18.2%
526371
₹82.62
NMDC
7D
-1.7%
1Y
13.6%
Narrative Update • Jul 20

526371: Dividend Prospects And Revised Assumptions Will Support Future Upside Potential

Analysts have adjusted their fair value estimate for NMDC to ₹112 from ₹106, reflecting updated assumptions on the discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News NMDC has scheduled a board meeting on May 29, 2026, to consider and approve audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
532144
₹1,610.60
Welspun
7D
-4.1%
1Y
79.6%
Narrative Update • Jul 20

532144: Order Book And FY27 Guidance Will Support Measured Earnings Visibility

Analysts have raised their price target on Welspun from ₹1,536.67 to ₹1,608.33, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as the basis for the change. What’s in the News for Welspun Welspun Corp has scheduled a board meeting on May 21, 2026, to review standalone and consolidated audited financial results for the quarter and year ended March 31, 2026; consider a final dividend on equity shares; evaluate the sale of its equity stake in Clean Max Dhyuthi Private Limited; and review completion of earlier announced expansion and capability enhancement projects.
500470
₹184.25
Tata Steel
7D
-0.7%
1Y
12.7%
504614
₹502.25
Sarda Energy & Minerals
7D
1.6%
1Y
11.7%
JINDALSTEL
₹1,041.90
Jindal Steel
7D
1.4%
1Y
4.1%
533758
₹1,830.90
APL Apollo Tubes
7D
2.1%
1Y
8.4%
Narrative Update • Jul 10

533758: Fair Outlook Balances Dividend Plans And Subsidiary Disinvestment

Analysts have lifted their fair value estimate for APL Apollo Tubes from about ₹1,502 to roughly ₹1,724, citing updated assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. What’s in the News for APL Apollo Tubes Board meeting scheduled on May 2, 2026 to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to consider a recommendation for a final dividend on equity shares, if any.
500228
₹1,246.65
JSW Steel
7D
2.1%
1Y
20.6%
Narrative Update • Jul 07

500228: Greenfield Odisha Expansion Will Support Future Margin And Output Upside

Analysts have raised their price target on JSW Steel from ₹1,525 to about ₹1,630, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of the change. What’s in the News for JSW Steel JSW Steel has scheduled a board meeting on Jul 17, 2026 to consider the unaudited standalone and consolidated financial results for the quarter ended Jun 30, 2026.
532887
₹16.56
Neueon
7D
26.9%
1Y
n/a
513097
₹752.70
Shivalik Bimetal Controls
7D
4.3%
1Y
31.8%
539006
₹17,846.95
PTC Industries
7D
1.8%
1Y
22.7%
KIOCL
₹351.15
KIOCL
7D
-6.5%
1Y
-2.9%