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Indian (NIFTY) Steel Industry Analysis

UpdatedFeb 14, 2026
DataAggregated Company Financials
Companies171
  • 7D-0.09%
  • 3M5.1%
  • 1Y29.4%
  • YTDn/a

Over the last 7 days, the Steel industry has risen 1.9%, driven by gains from Tata Steel of 3.1%. Meanwhile, NMDC actually underperformed within the industry, shrinking 5.5% in the last week. This takes the industry's 12 month performance to a gain of 29%. As for the next few years, earnings are expected to grow by 34% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Tue, 21 Feb 2023₹6.7t₹8.4t₹517.5b13.4x13x0.8x
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 1.6x.
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-0.17%
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₹203.203.1%
+₹76.8b		51.2%PE27.7x
520111 Ratnamani Metals & Tubes₹2.25k12.7%
+₹17.8b		-9.7%PE27x
533758 APL Apollo Tubes₹2.25k2.3%
+₹13.9b		72.6%PE54.7x
539006 PTC Industries₹18.38k5.2%
+₹13.7b		40.3%PE443.6x
533047 Indian Metals and Ferro Alloys₹1.44k8.3%
+₹5.9b		128.3%PE21.1x

Latest News

520111
₹2,251.40
Ratnamani Metals & Tubes
7D
12.7%
1Y
-9.7%
SURYAROSNI
₹228.56
Surya Roshni
7D
-10.3%
1Y
1.2%

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
₹1,190.60
Lloyds Metals and Energy
7D
-5.7%
1Y
4.7%

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.
GPIL
₹258.65
Godawari Power & Ispat
7D
3.1%
1Y
52.6%
500470
₹203.20
Tata Steel
7D
3.1%
1Y
51.2%
RKFORGE
₹571.30
Ramkrishna Forgings
7D
2.8%
1Y
-9.6%

RKFORGE: Warrant Issue And Capital Raise Will Support Long Term Upside

Analysts have trimmed their fair value estimate for Ramkrishna Forgings from ₹696.33 to ₹684.17, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Board meeting scheduled on January 27, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
SHYAMMETL
₹879.45
Shyam Metalics and Energy
7D
2.2%
1Y
19.9%

SHYAMMETL: Vision 2031 Plans Will Support Steady Outlook And Fair Pricing

Analysts have lifted their fair value estimate for Shyam Metalics and Energy from ₹828.00 to ₹855.00, reflecting updated views on the discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Board meeting scheduled on Jan 24, 2026, to consider and record the unaudited standalone and consolidated financial results for the third quarter and nine months ended Dec 31, 2025, along with other business items (company filing).
504614
₹502.75
Sarda Energy & Minerals
7D
-5.0%
1Y
9.5%
JSL
₹764.20
Jindal Stainless
7D
-2.6%
1Y
30.7%

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
₹79.45
NMDC
7D
-5.5%
1Y
28.4%

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).
533047
₹1,439.55
Indian Metals and Ferro Alloys
7D
8.3%
1Y
128.3%
532144
₹802.70
Welspun
7D
-2.7%
1Y
8.5%

532144: Large Export Order Book Will Support Bullish Outlook For Coming Years

Analysts have nudged their fair value estimate for Welspun down from ₹1,189 to ₹1,160, citing updated assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News Welspun Corp has scheduled a board meeting on January 30, 2026 to consider and approve standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
539006
₹18,377.35
PTC Industries
7D
5.2%
1Y
40.3%
GALLANTT
₹555.35
Gallantt Ispat
7D
-5.7%
1Y
78.9%
BHARATCOAL
₹35.25
Bharat Coking Coal
7D
-4.8%
1Y
n/a
533758
₹2,248.05
APL Apollo Tubes
7D
2.3%
1Y
72.6%

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

Analysts have raised their fair value estimate for APL Apollo Tubes from ₹1,984.94 to ₹2,176.06, citing updated assumptions related to revenue growth, profit margins and future P/E levels. What's in the News Board meeting scheduled for January 22, 2026 at 12:30 Indian Standard Time to consider and approve unaudited standalone financial results for the quarter and nine month period ended December 31, 2025.