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Indian (NIFTY) Steel Industry Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies160
  • 7D1.1%
  • 3M10.0%
  • 1Y6.6%
  • YTDn/a

The Steel industry is up 1.1% in the last week, with JSW Steel up 2.0%. In the last 12 months, the industry was up 6.6%. Earnings are forecast to grow by 32% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025₹12.8t₹8.5t₹405.2b24.6x31.6x1.5x
Sat, 16 Aug 2025₹12.0t₹8.5t₹405.9b23.1x29.6x1.4x
Mon, 14 Jul 2025₹12.2t₹8.4t₹362.1b23.4x33.6x1.4x
Wed, 11 Jun 2025₹12.1t₹8.4t₹361.0b23.1x33.6x1.4x
Fri, 09 May 2025₹10.7t₹8.4t₹346.0b20.1x30.9x1.3x
Sun, 06 Apr 2025₹10.9t₹8.4t₹359.5b19.8x30.4x1.3x
Tue, 04 Mar 2025₹10.3t₹8.4t₹359.5b19.3x28.7x1.2x
Thu, 30 Jan 2025₹10.9t₹8.3t₹369.0b22.6x29.4x1.3x
Sat, 28 Dec 2024₹11.5t₹8.3t₹386.0b25.4x29.7x1.4x
Mon, 25 Nov 2024₹11.3t₹8.3t₹386.0b24x29.3x1.4x
Wed, 23 Oct 2024₹11.5t₹8.4t₹360.1b24.6x32x1.4x
Fri, 20 Sep 2024₹11.8t₹8.5t₹361.9b24.9x32.7x1.4x
Sun, 18 Aug 2024₹11.4t₹8.5t₹362.8b23x31.5x1.3x
Tue, 16 Jul 2024₹12.1t₹8.5t₹370.5b24.3x32.7x1.4x
Thu, 13 Jun 2024₹12.0t₹8.4t₹367.0b24x32.6x1.4x
Sat, 11 May 2024₹11.1t₹8.5t₹425.6b22.6x26.1x1.3x
Mon, 08 Apr 2024₹11.0t₹8.4t₹419.9b23.8x26.1x1.3x
Wed, 06 Mar 2024₹10.7t₹8.4t₹419.9b23x25.5x1.3x
Fri, 02 Feb 2024₹10.5t₹8.7t₹424.6b24.2x24.6x1.2x
Sun, 31 Dec 2023₹10.3t₹8.7t₹351.4b22.4x29.3x1.2x
Tue, 28 Nov 2023₹9.3t₹8.7t₹351.3b20.7x26.4x1.1x
Thu, 26 Oct 2023₹8.6t₹8.6t₹382.0b18.1x22.5x1x
Sat, 23 Sep 2023₹8.8t₹8.6t₹339.0b18.1x25.9x1x
Mon, 21 Aug 2023₹8.3t₹8.6t₹340.4b16.4x24.2x1x
Wed, 19 Jul 2023₹7.9t₹8.5t₹390.0b15.9x20.4x0.9x
Fri, 16 Jun 2023₹7.4t₹8.5t₹394.6b14.7x18.8x0.9x
Sun, 14 May 2023₹6.9t₹8.3t₹430.3b14.9x16x0.8x
Tue, 11 Apr 2023₹6.7t₹8.4t₹517.1b14.5x12.9x0.8x
Thu, 09 Mar 2023₹6.7t₹8.4t₹517.1b13.6x12.9x0.8x
Sat, 04 Feb 2023₹6.8t₹8.4t₹656.2b13.5x10.4x0.8x
Mon, 02 Jan 2023₹6.7t₹8.4t₹721.3b13.4x9.3x0.8x
Wed, 30 Nov 2022₹6.3t₹8.4t₹721.3b12.3x8.7x0.8x
Fri, 28 Oct 2022₹6.0t₹8.3t₹923.6b12.9x6.5x0.7x
Sun, 25 Sep 2022₹5.9t₹8.2t₹1.0t12.9x5.9x0.7x
Price to Earnings Ratio

5.9x


Total Market Cap: ₹5.9tTotal Earnings: ₹1.0tTotal Revenue: ₹8.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 24.5x202320242025
Current Industry PE
  • Investors are optimistic on the Indian Steel industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 31.6x which is higher than its 3-year average PE of 24.5x.
  • 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 26% 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 Market1.75%
Materials1.70%
Metals and Mining2.15%
Steel1.10%
Copper15.98%
Diversified Metals and Mining5.38%
Aluminum1.15%
Gold-3.44%
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₹1.12k2.0%
+₹54.9b		18.4%PE56.5x
500470 Tata Steel₹172.001.5%
+₹32.5b		15.0%PE47.3x
539006 PTC Industries₹15.51k8.9%
+₹19.1b		11.4%PE379.3x
512455 Lloyds Metals and Energy₹1.34k2.4%
+₹16.7b		66.2%PE45.5x
GPIL Godawari Power & Ispat₹260.478.0%
+₹12.5b		39.2%PE22.7x

Latest News

KIOCL
₹434.30
KIOCL
7D
-4.7%
1Y
14.3%

KIOCL Limited (NSE:KIOCL) Stock Rockets 30% As Investors Are Less Pessimistic Than Expected

Sep 18
KIOCL Limited (NSE:KIOCL) Stock Rockets 30% As Investors Are Less Pessimistic Than Expected
SHYAMMETL
₹915.25
Shyam Metalics and Energy
7D
-0.6%
1Y
5.1%

There Are Reasons To Feel Uneasy About Shyam Metalics and Energy's (NSE:SHYAMMETL) Returns On Capital

Sep 16
There Are Reasons To Feel Uneasy About Shyam Metalics and Energy's (NSE:SHYAMMETL) Returns On Capital
RKFORGE
₹577.05
Ramkrishna Forgings
7D
-1.0%
1Y
-42.5%

We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Ramkrishna Forgings Limited's (NSE:RKFORGE) CEO For Now

Sep 14
We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Ramkrishna Forgings Limited's (NSE:RKFORGE) CEO For Now
GPIL
₹260.47
Godawari Power & Ispat
7D
8.0%
1Y
39.2%

Most Shareholders Will Probably Agree With Godawari Power & Ispat Limited's (NSE:GPIL) CEO Compensation

Sep 14
Most Shareholders Will Probably Agree With Godawari Power & Ispat Limited's (NSE:GPIL) CEO Compensation
512455
₹1,335.05
Lloyds Metals and Energy
7D
2.4%
1Y
66.2%
SURYAROSNI
₹288.90
Surya Roshni
7D
-2.3%
1Y
-11.0%

It's Unlikely That Surya Roshni Limited's (NSE:SURYAROSNI) CEO Will See A Huge Pay Rise This Year

Sep 12
It's Unlikely That Surya Roshni Limited's (NSE:SURYAROSNI) CEO Will See A Huge Pay Rise This Year
520111
₹2,480.35
Ratnamani Metals & Tubes
7D
4.5%
1Y
-32.9%
GALLANTT
₹671.10
Gallantt Ispat
7D
-5.6%
1Y
71.0%
500470
₹172.00
Tata Steel
7D
1.5%
1Y
15.0%

Kalinganagar, Ludhiana And Decarbonization Will Unlock New Opportunities

Despite slightly lower revenue growth expectations and a modest uptick in future P/E, analysts have left Tata Steel’s fair value largely unchanged, with the price target nudging up marginally to ₹169.43. What's in the News Tata Steel faces multiple regulatory actions, including a INR 19.0 billion demand for alleged shortfall in mineral dispatch from the Sukinda Chromite Block, which the company is contesting in the Orissa High Court; authorities are currently restrained from taking coercive steps.
539006
₹15,512.60
PTC Industries
7D
8.9%
1Y
11.4%
500228
₹1,121.10
JSW Steel
7D
2.0%
1Y
18.4%

Government Spending And Capacity Expansion Will Fuel Steel Consumption

With both the discount rate and future P/E for JSW Steel remaining effectively unchanged, there has been no material revision in the fair value, with the consensus analyst price target stable at ₹1056. What's in the News JSW Steel finalized a joint venture with Andhra Pradesh Mineral Development Corporation to develop the Konijedu Marlapadu Integrated Iron Ore Project, aiming to mine and beneficiate low-grade iron ore (1.3 million tons/annum) and reduce imported ore dependence; project cost INR 10.75 billion, with JSW holding 89% equity.
526371
₹76.80
NMDC
7D
1.2%
1Y
8.4%

Production Capacity Will Reach 100 Million Tonnes, Increasing Steel Outputs

As both NMDC's future P/E ratio and consensus revenue growth forecasts remained essentially unchanged, analysts have left their fair value estimate steady at ₹75.18. What's in the News NMDC approved a final dividend of INR 1.00 per equity share for FY 2024-25.
504614
₹568.35
Sarda Energy & Minerals
7D
-2.7%
1Y
37.2%
NSLNISP
₹45.17
NMDC Steel
7D
-1.0%
1Y
-10.4%
517146
₹416.20
Usha Martin
7D
8.5%
1Y
23.2%
500245
₹545.30
Kirloskar Ferrous Industries
7D
-0.9%
1Y
-21.9%

Backward Integration And Capacity Expansion Will Secure Future Prospects

The upward revision in fair value for Kirloskar Ferrous Industries is driven by a notable improvement in net profit margin and a decline in future P/E, resulting in the consensus analyst price target rising from ₹625.50 to ₹659.50. What's in the News Board meeting scheduled to consider and approve unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2025.