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Indian (NIFTY) Steel Industry Analysis

UpdatedDec 09, 2025
DataAggregated Company Financials
Companies166
  • 7D-3.1%
  • 3M-3.2%
  • 1Y-0.2%
  • YTDn/a

Over the last 7 days, the Steel industry has remained flat, although notably NMDC gained 3.4%. As for the the longer term, the industry is up 3.2% over the past 12 months. 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
Tue, 09 Dec 2025₹12.3t₹8.7t₹447.2b21.5x27.4x1.4x
Thu, 06 Nov 2025₹13.1t₹8.6t₹421.1b23.3x31.2x1.5x
Sat, 04 Oct 2025₹13.1t₹8.5t₹405.4b25.1x32.4x1.5x
Mon, 01 Sep 2025₹11.9t₹8.5t₹405.4b23.1x29.4x1.4x
Wed, 30 Jul 2025₹12.2t₹8.5t₹382.6b22.5x31.9x1.4x
Fri, 27 Jun 2025₹12.2t₹8.4t₹361.2b23.8x33.9x1.5x
Sun, 25 May 2025₹11.9t₹8.4t₹354.2b21.2x33.5x1.4x
Tue, 22 Apr 2025₹11.2t₹8.4t₹359.5b20.5x31.3x1.3x
Thu, 20 Mar 2025₹11.4t₹8.4t₹359.6b19.9x31.8x1.4x
Sat, 15 Feb 2025₹10.4t₹8.4t₹358.1b20x29.1x1.2x
Mon, 13 Jan 2025₹11.2t₹8.3t₹386.4b24x28.9x1.3x
Wed, 11 Dec 2024₹12.3t₹8.3t₹386.0b27.3x31.9x1.5x
Fri, 08 Nov 2024₹12.0t₹8.4t₹399.3b24.5x29.9x1.4x
Sun, 06 Oct 2024₹12.6t₹8.5t₹362.0b24.4x34.7x1.5x
Tue, 03 Sep 2024₹11.8t₹8.5t₹363.6b24x32.5x1.4x
Thu, 01 Aug 2024₹12.0t₹8.5t₹356.1b24.9x33.8x1.4x
Sat, 29 Jun 2024₹12.1t₹8.4t₹369.2b25.1x32.7x1.4x
Mon, 27 May 2024₹11.9t₹8.5t₹402.7b22.1x29.6x1.4x
Wed, 24 Apr 2024₹11.1t₹8.4t₹419.9b23.6x26.5x1.3x
Fri, 22 Mar 2024₹10.1t₹8.4t₹419.9b21.7x24.2x1.2x
Sun, 18 Feb 2024₹10.4t₹8.4t₹419.6b23.3x24.8x1.2x
Tue, 16 Jan 2024₹10.3t₹8.7t₹351.2b23.5x29.2x1.2x
Thu, 14 Dec 2023₹9.9t₹8.7t₹351.4b22.2x28.1x1.1x
Sat, 11 Nov 2023₹8.9t₹8.6t₹332.1b19.4x26.7x1x
Mon, 09 Oct 2023₹8.8t₹8.6t₹339.2b18.7x26x1x
Wed, 06 Sep 2023₹9.1t₹8.6t₹338.8b18.4x27x1.1x
Fri, 04 Aug 2023₹8.2t₹8.5t₹336.1b16.2x24.5x1x
Sun, 02 Jul 2023₹7.5t₹8.5t₹390.4b14.8x19.2x0.9x
Tue, 30 May 2023₹6.9t₹8.4t₹395.0b14.7x17.5x0.8x
Thu, 27 Apr 2023₹6.9t₹8.3t₹534.8b14.5x12.8x0.8x
Sat, 25 Mar 2023₹6.5t₹8.4t₹517.1b13.1x12.6x0.8x
Mon, 20 Feb 2023₹6.7t₹8.4t₹517.5b13.6x13x0.8x
Wed, 18 Jan 2023₹6.9t₹8.4t₹720.1b14.7x9.5x0.8x
Fri, 16 Dec 2022₹6.6t₹8.4t₹721.3b13.5x9.1x0.8x
Price to Earnings Ratio

9.1x


Total Market Cap: ₹6.6tTotal Earnings: ₹721.3bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 26.3x202320242025
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 26.3x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have declined 15% 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-2.27%
Materials-2.26%
Metals and Mining-2.38%
Steel-3.06%
Copper7.13%
Aluminum1.05%
Diversified Metals and Mining-2.88%
Gold-10.09%
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
512455 Lloyds Metals and Energy₹1.24k2.4%
+₹15.3b		10.0%PE36.3x
JSL Jindal Stainless₹773.951.7%
+₹10.9b		3.7%PE23.1x
539006 PTC Industries₹19.02k3.6%
+₹10.0b		61.9%PE459.1x
517146 Usha Martin₹434.801.8%
+₹2.4b		6.0%PE31.4x
533047 Indian Metals and Ferro Alloys₹1.38k3.3%
+₹2.4b		42.2%PE22.5x

Latest News

500228
₹1,106.35
JSW Steel
7D
-4.8%
1Y
9.2%

500228: Reorganization And Potential Asset Sale Will Shape Balanced Outlook

Analysts have nudged their price target for JSW Steel slightly higher to reflect an updated fair value of ₹1,178 per share from about ₹1,170, citing a modest improvement in long term profit margin expectations and a slightly richer forward PE multiple that more than offset slightly lower revenue growth assumptions and a marginally higher discount rate. What's in the News The board will consider amalgamating Piombino Steel Limited with JSW Steel on December 3, 2025, under Sections 230 to 232 of the Companies Act, 2013, a move that could simplify the domestic corporate structure (company filing).
JINDALSTEL
₹1,002.80
Jindal Steel
7D
-2.5%
1Y
0.04%

Jindal Steel Limited's (NSE:JINDALSTEL) Price In Tune With Earnings

Dec 06
Jindal Steel Limited's (NSE:JINDALSTEL) Price In Tune With Earnings
532144
₹806.95
Welspun
7D
-4.6%
1Y
1.6%

532144: US And Middle East Orders Will Drive Long Term Earnings Visibility

Analysts have modestly raised their price target on Welspun, citing a slightly higher assumed discount rate and future valuation multiple while keeping fair value broadly unchanged at ₹1,113.25 per share. What's in the News The Board approved the incorporation of two wholly owned subsidiaries in the United Arab Emirates: one as a global investment holding company at Dubai International Financial Centre and another to handle international marketing and trading activities, both subject to local regulatory approvals (Board meeting, Oct 30, 2025).
JSL
₹773.95
Jindal Stainless
7D
1.7%
1Y
3.7%

With EPS Growth And More, Jindal Stainless (NSE:JSL) Makes An Interesting Case

Dec 01
With EPS Growth And More, Jindal Stainless (NSE:JSL) Makes An Interesting Case
SAIL
₹129.15
Steel Authority of India
7D
-2.5%
1Y
1.8%

SAIL: Overseas Mineral Acquisitions Will Shape Profit Margins And Earnings Stability

Analysts have slightly lowered their price target for Steel Authority of India to ₹125.81, a modest decrease that reflects small adjustments in discount rates and future earnings estimates. The outlook for revenue growth and profit margins remains broadly stable.
517146
₹434.80
Usha Martin
7D
1.8%
1Y
6.0%

517146: Stable Outlook Will Drive Confidence Ahead Of Board And Remuneration Meetings

Analysts have maintained their fair value estimate for Usha Martin at ₹600, citing a stable long-term outlook despite minor adjustments to growth, margin, and discount rate assumptions. What's in the News A board meeting is scheduled for November 8, 2025, to consider approval of unaudited financial results for the quarter and half year ended September 30, 2025 (Key Developments).
526371
₹74.78
NMDC
7D
-1.7%
1Y
-8.0%

526371: Adjustments To Dividend Plans And Margins Will Guide 2025 Outlook

Analysts have slightly reduced their price target for NMDC from ₹78.25 to ₹77.12, citing nuanced adjustments in the discount rate and future price-to-earnings expectations. What's in the News NMDC's Board Meeting is scheduled for November 14, 2025, at 11:30 Indian Standard Time.
500470
₹160.60
Tata Steel
7D
-4.3%
1Y
6.8%

500470: Future Results Will Reflect Environmental Transition Amid Regulatory And Legal Uncertainty

Narrative Update: Tata Steel Analyst Price Target Adjustment Analysts have raised their price target for Tata Steel from ₹177.5 to ₹186.1. This adjustment reflects improved profit margin expectations, even as revenue growth forecasts have been revised slightly lower. What's in the News Tata Steel received a significant demand letter from the Office of Deputy Director of Mines, Jajpur, concerning an alleged chrome ore dispatch shortfall from its Sukinda Chromite Block.
520111
₹2,414.20
Ratnamani Metals & Tubes
7D
1.4%
1Y
-28.7%

520111: Upcoming Board Meeting And Results Will Drive Shares Higher

Narrative Update on Ratnamani Metals & Tubes The analyst price target for Ratnamani Metals & Tubes has been revised downward by approximately ₹100, from ₹3,107 to ₹3,001. Analysts cite expectations for slightly lower revenue growth and profit margins in future forecasts.
KIOCL
₹333.00
KIOCL
7D
-7.4%
1Y
-13.3%
SHYAMMETL
₹816.45
Shyam Metalics and Energy
7D
1.0%
1Y
-6.0%

Concerns Surrounding Shyam Metalics and Energy's (NSE:SHYAMMETL) Performance

Nov 16
Concerns Surrounding Shyam Metalics and Energy's (NSE:SHYAMMETL) Performance
512455
₹1,239.55
Lloyds Metals and Energy
7D
2.4%
1Y
10.0%

512455: Board Actions And Land Purchase Will Unlock Substantial Upside Ahead

Analysts have increased their price target for Lloyds Metals and Energy from ₹1,627.50 to ₹1,654.00. This change reflects updates to growth estimates and valuation metrics.
533047
₹1,375.75
Indian Metals and Ferro Alloys
7D
3.3%
1Y
42.2%
GALLANTT
₹599.15
Gallantt Ispat
7D
1.4%
1Y
65.9%

Getting In Cheap On Gallantt Ispat Limited (NSE:GALLANTT) Is Unlikely

Nov 11
Getting In Cheap On Gallantt Ispat Limited (NSE:GALLANTT) Is Unlikely
504918
₹196.95
Sandur Manganese & Iron Ores
7D
-5.4%
1Y
14.2%
539006
₹19,018.20
PTC Industries
7D
3.6%
1Y
61.9%