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Indian (NIFTY) Steel Industry Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies171
  • 7D1.7%
  • 3M-3.4%
  • 1Y17.7%
  • YTDn/a

In the last week, the Steel industry is up 1.7%, with Lloyds Metals and Energy up 8.7%. This takes the industry's 12 month performance to a gain of 18%. Looking forward, earnings are forecast to grow by 35% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Apr 2026₹13.2t₹9.1t₹489.8b20.6x26.9x1.5x
Wed, 04 Mar 2026₹14.0t₹9.1t₹489.4b20.9x28.6x1.5x
Fri, 30 Jan 2026₹13.7t₹8.9t₹466.7b21.4x29.4x1.5x
Sun, 28 Dec 2025₹12.7t₹8.7t₹445.2b23.2x28.5x1.4x
Tue, 25 Nov 2025₹12.3t₹8.7t₹447.2b22.3x27.5x1.4x
Thu, 23 Oct 2025₹12.9t₹8.5t₹415.1b24x31.1x1.5x
Sat, 20 Sep 2025₹12.9t₹8.5t₹405.2b24.4x31.8x1.5x
Mon, 18 Aug 2025₹12.0t₹8.5t₹405.3b22.9x29.6x1.4x
Wed, 16 Jul 2025₹12.2t₹8.4t₹361.8b23.3x33.7x1.4x
Fri, 13 Jun 2025₹11.9t₹8.4t₹361.0b22.6x33.1x1.4x
Sun, 11 May 2025₹10.7t₹8.4t₹347.0b20x30.7x1.3x
Tue, 08 Apr 2025₹10.2t₹8.4t₹359.5b19x28.3x1.2x
Thu, 06 Mar 2025₹10.8t₹8.4t₹359.5b20.4x30x1.3x
Sat, 01 Feb 2025₹10.9t₹8.3t₹357.7b23.1x30.5x1.3x
Mon, 30 Dec 2024₹11.5t₹8.3t₹386.0b25.4x29.7x1.4x
Wed, 27 Nov 2024₹11.4t₹8.3t₹386.0b24.3x29.6x1.4x
Fri, 25 Oct 2024₹11.5t₹8.5t₹360.6b24.6x31.8x1.4x
Sun, 22 Sep 2024₹12.1t₹8.5t₹361.9b24.7x33.3x1.4x
Tue, 20 Aug 2024₹11.6t₹8.5t₹361.9b23.5x32x1.4x
Thu, 18 Jul 2024₹12.2t₹8.5t₹370.6b24.7x32.8x1.4x
Sat, 15 Jun 2024₹12.2t₹8.4t₹367.0b23.9x33.2x1.4x
Mon, 13 May 2024₹11.1t₹8.5t₹425.8b22.4x26.1x1.3x
Wed, 10 Apr 2024₹11.1t₹8.4t₹419.9b24x26.4x1.3x
Fri, 08 Mar 2024₹10.6t₹8.4t₹419.9b22.1x25.2x1.3x
Sun, 04 Feb 2024₹10.6t₹8.7t₹424.4b24.3x25x1.2x
Tue, 02 Jan 2024₹10.3t₹8.7t₹351.4b22.5x29.4x1.2x
Thu, 30 Nov 2023₹9.3t₹8.7t₹351.3b21x26.6x1.1x
Sat, 28 Oct 2023₹8.5t₹8.7t₹385.8b17.8x22x1x
Mon, 25 Sep 2023₹8.8t₹8.6t₹339.0b18.1x25.9x1x
Wed, 23 Aug 2023₹8.4t₹8.6t₹340.4b16.5x24.6x1x
Fri, 21 Jul 2023₹8.0t₹8.5t₹390.9b15.6x20.6x0.9x
Sun, 18 Jun 2023₹7.4t₹8.5t₹394.6b14.8x18.9x0.9x
Tue, 16 May 2023₹6.9t₹8.3t₹430.3b14.9x16x0.8x
Thu, 13 Apr 2023₹6.8t₹8.4t₹517.1b14.4x13.2x0.8x
Price to Earnings Ratio

13.2x


Total Market Cap: ₹6.8tTotal Earnings: ₹517.1bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 28.2x202420252026
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 28.1x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.5x.
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 Market0.0067%
Materials1.30%
Metals and Mining2.67%
Steel1.73%
Gold7.85%
Aluminum6.26%
Diversified Metals and Mining3.34%
Copper0.57%
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₹1.39k8.7%
+₹62.6b		12.1%PE31.8x
SAIL Steel Authority of India₹155.165.9%
+₹35.9b		37.8%PE23x
500228 JSW Steel₹1.14k0.9%
+₹24.0b		13.3%PE37.4x
BHARATCOAL Bharat Coking Coal₹32.127.2%
+₹10.1b		n/aPE89.3x
500470 Tata Steel₹194.050.4%
+₹10.0b		38.2%PE26.4x

Latest News

JINDALSTEL
₹1,137.90
Jindal Steel
7D
0.6%
1Y
33.9%

JINDALSTEL: Angul Capacity Expansion Will Support Stronger Long Term Prospects

Analysts have kept their price target for Jindal Steel steady at ₹1,393, indicating only small refinements in discount rate, revenue growth, profit margin and future P/E assumptions, rather than a shift in the overall outlook. What's in the News Completion of the 6 MTPA expansion at the Angul Integrated Steel Complex in Odisha, with commissioning of the third Basic Oxygen Furnace (BOF 3) of 3 MTPA.
500228
₹1,140.75
JSW Steel
7D
0.9%
1Y
13.3%

500228: Resource Security Plans And Steady Volumes Will Support A Balanced Outlook

Analysts have raised their price target for JSW Steel to ₹1,249.58 from ₹1,214.94, citing updated assumptions for revenue growth, profit margins, and a slightly higher future P/E ratio. What's in the News Board meeting scheduled for May 14, 2026, to review audited financial results for the quarter and year ended March 31, 2026.
500470
₹194.05
Tata Steel
7D
0.4%
1Y
38.2%

500470: Ongoing Tax And Regulatory Disputes Will Constrain Future Upside Potential

Analysts have trimmed Tata Steel's price target slightly from about ₹166.91 to roughly ₹166.48. This reflects updated assumptions for discount rate, revenue growth, profit margin and future P/E that modestly adjust their valuation view.
SAIL
₹155.16
Steel Authority of India
7D
5.9%
1Y
37.8%

SAIL: Lower Discount Rate Will Support Margins While Multiple Pressure Persists

Analysts have raised their fair value estimate for Steel Authority of India from ₹130.88 to ₹142.78. They cite updated assumptions that reflect slightly higher revenue growth and profit margin expectations, a lower discount rate, and a modestly reduced future P/E multiple.
533758
₹1,895.65
APL Apollo Tubes
7D
-2.2%
1Y
31.7%

533758: Upcoming Results And Steady Assumptions Will Support An Undervalued Outlook

Analysts have kept their fair value estimate for APL Apollo Tubes steady at about ₹2,280 per share, with only minor tweaks to assumptions such as the discount rate, revenue growth and future P/E that do not materially change their overall view. What's in the News A board meeting is scheduled for January 22, 2026, at 12:30 Indian Standard Time to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
532144
₹846.35
Welspun
7D
3.5%
1Y
4.8%

532144: Export Order Pipeline And New Global Subsidiary Will Support Future Upside

Analysts have raised their price target on Welspun from ₹892 to ₹1,043, citing updated assumptions that include a revised discount rate, revenue growth, profit margin, and future P/E inputs. What's in the News Board meeting on Mar 19, 2026 to consider acquiring a stake in Welspun Corporate Services Limited and modifying arrangements for 42 MW of renewable energy supply (company filing).
512455
₹1,390.05
Lloyds Metals and Energy
7D
8.7%
1Y
12.1%

512455: Capacity Expansion And New Subsidiaries Will Support Future Upside

Analysts have kept the price target for Lloyds Metals and Energy steady at ₹1,703, indicating only minor tweaks in the discount rate, revenue growth, profit margin assumptions and future P/E expectations, rather than a change in the overall valuation view. What's in the News A board meeting is scheduled on Mar 13, 2026 to consider the allotment of equity shares upon conversion of preferentially issued convertible warrants to non-promoters and the potential acquisition of an equity stake in a Cayman Islands entity through wholly owned subsidiary Lloyds Global Resources FZCO (company filing).
KIOCL
₹342.70
KIOCL
7D
4.8%
1Y
47.4%
513436
₹58.00
Shah Alloys
7D
-3.3%
1Y
8.6%
539006
₹14,739.00
PTC Industries
7D
-5.6%
1Y
6.8%
513554
₹937.50
Mahamaya Steel Industries
7D
-1.3%
1Y
282.7%
543590
₹24.66
Rhetan TMT
7D
-0.4%
1Y
40.1%
513532
₹362.35
Pradeep Metals
7D
-0.9%
1Y
58.9%
BHARATCOAL
₹32.12
Bharat Coking Coal
7D
7.2%
1Y
n/a
517146
₹405.45
Usha Martin
7D
-0.6%
1Y
25.4%
PSRAJ
₹242.05
S Raj Steels
7D
-5.1%
1Y
82.5%