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Indian (NIFTY) Steel Industry Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies171
  • 7D6.0%
  • 3M7.6%
  • 1Y30.1%
  • YTDn/a

In the last week, the Steel industry is up 6.0%, with JSW Steel up 6.2%. This takes the industry's 12 month performance to a gain of 30%. 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
Tue, 14 Apr 2026₹14.1t₹9.1t₹489.8b22.6x28.8x1.6x
Thu, 12 Mar 2026₹13.3t₹9.1t₹489.4b21x27.2x1.5x
Sat, 07 Feb 2026₹13.9t₹9.0t₹465.8b22x29.7x1.5x
Mon, 05 Jan 2026₹13.4t₹8.7t₹445.2b23.6x30.1x1.5x
Wed, 03 Dec 2025₹12.6t₹8.7t₹447.2b22.5x28.1x1.4x
Fri, 31 Oct 2025₹13.3t₹8.6t₹415.7b24.5x32x1.5x
Sun, 28 Sep 2025₹12.7t₹8.5t₹405.4b23.4x31.3x1.5x
Tue, 26 Aug 2025₹12.3t₹8.5t₹405.3b23.8x30.3x1.5x
Thu, 24 Jul 2025₹12.4t₹8.4t₹376.6b23.4x32.9x1.5x
Sat, 21 Jun 2025₹11.7t₹8.4t₹361.0b22.1x32.5x1.4x
Mon, 19 May 2025₹11.8t₹8.4t₹352.9b22.5x33.3x1.4x
Wed, 16 Apr 2025₹10.9t₹8.4t₹359.5b20.2x30.4x1.3x
Fri, 14 Mar 2025₹10.9t₹8.4t₹359.5b19.5x30.3x1.3x
Sun, 09 Feb 2025₹11.1t₹8.4t₹363.8b22.5x30.5x1.3x
Tue, 07 Jan 2025₹11.4t₹8.3t₹386.0b25.2x29.5x1.4x
Thu, 05 Dec 2024₹12.0t₹8.3t₹386.1b26.5x31x1.4x
Sat, 02 Nov 2024₹11.7t₹8.4t₹333.7b24.5x34.9x1.4x
Mon, 30 Sep 2024₹12.5t₹8.4t₹360.1b24.6x34.6x1.5x
Wed, 28 Aug 2024₹11.9t₹8.5t₹363.6b24.3x32.8x1.4x
Fri, 26 Jul 2024₹11.6t₹8.5t₹352.3b24.4x32.9x1.4x
Sun, 23 Jun 2024₹12.3t₹8.4t₹369.0b24.3x33.3x1.5x
Tue, 21 May 2024₹11.8t₹8.5t₹402.7b23.3x29.3x1.4x
Thu, 18 Apr 2024₹10.9t₹8.4t₹419.9b23.4x26.1x1.3x
Sat, 16 Mar 2024₹9.8t₹8.4t₹419.9b20.9x23.3x1.2x
Mon, 12 Feb 2024₹10.4t₹8.4t₹413.8b23.9x25.1x1.2x
Wed, 10 Jan 2024₹10.2t₹8.7t₹351.4b22.7x29x1.2x
Fri, 08 Dec 2023₹9.6t₹8.7t₹351.4b21.5x27.4x1.1x
Sun, 05 Nov 2023₹8.6t₹8.6t₹325.0b18.2x26.5x1x
Tue, 03 Oct 2023₹8.9t₹8.6t₹339.1b18.5x26.3x1x
Thu, 31 Aug 2023₹8.6t₹8.6t₹338.5b17.4x25.3x1x
Sat, 29 Jul 2023₹8.3t₹8.5t₹335.1b15.8x24.7x1x
Mon, 26 Jun 2023₹7.3t₹8.5t₹390.3b14.7x18.8x0.9x
Wed, 24 May 2023₹6.8t₹8.5t₹429.9b14.7x15.9x0.8x
Fri, 21 Apr 2023₹6.9t₹8.4t₹516.4b14.3x13.4x0.8x
Price to Earnings Ratio

13.4x


Total Market Cap: ₹6.9tTotal Earnings: ₹516.4bTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Steel Industry Price to Earnings3Y Average 28.3x202420252026
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 28.3x.
  • 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 Market4.97%
Materials5.55%
Metals and Mining6.23%
Steel6.01%
Diversified Metals and Mining7.77%
Copper4.73%
Aluminum4.71%
Gold4.66%
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₹1.20k4.6%
+₹128.5b		19.4%PE39.4x
500470 Tata Steel₹206.554.3%
+₹106.1b		51.4%PE28.1x
JINDALSTEL Jindal Steel₹1.22k4.3%
+₹51.3b		44.2%PE62.7x
JSL Jindal Stainless₹765.206.2%
+₹36.8b		37.2%PE21.4x
526371 NMDC₹85.805.0%
+₹35.6b		31.6%PE10.9x

Latest News

512455
₹1,502.35
Lloyds Metals and Energy
7D
4.2%
1Y
21.3%

512455: Capacity Expansion And New Subsidiary Pipeline Will Drive Future Upside

Analysts now place the price target for Lloyds Metals and Energy at about ₹1,723, compared with the prior level near ₹1,703, reflecting updated views on fair value, discount rate assumptions, revenue growth, profit margin and future P/E. What's in the News Board meeting on February 3, 2026 to consider unaudited financial results for the quarter and nine months ended December 31, 2025, equity share allotment upon conversion of warrants to non promoters, incorporation of a wholly owned subsidiary in Maharashtra, a slurry pipeline project and its financing, senior management designation changes, a proposed equity stake acquisition in a Singapore entity via Lloyds Global Resources FZCO, and capacity increase at Konsari pellet plants (Board Meeting, Feb 03, 2026).
532144
₹1,006.95
Welspun
7D
14.6%
1Y
29.5%

532144: Global Order Book Will Support Future Upside

Analysts have raised their price target on Welspun from ₹1,043 to ₹1,082, citing changes to key assumptions, including a higher discount rate, a revised revenue growth outlook, and updated expectations for profit margins and future P/E. What's in the News Welspun Corp.
500245
₹372.50
Kirloskar Ferrous Industries
7D
-1.7%
1Y
-18.4%

500245: Upcoming Results And Dividend Decision Will Support Bullish Outlook

Analysts have kept the price target for Kirloskar Ferrous Industries unchanged at ₹577. This points to relatively stable assumptions on revenue growth, profit margins, discount rate and future P/E in their valuation work.
500470
₹206.55
Tata Steel
7D
4.3%
1Y
51.4%
JSL
₹765.20
Jindal Stainless
7D
6.2%
1Y
37.2%

JSL: Renewable Power Projects Will Support Future Margins

Analysts have maintained the price target for Jindal Stainless at ₹879.33. This unchanged view is based on slight adjustments to inputs, including a higher discount rate of 15.14%, marginally revised revenue growth of 13.17%, a profit margin of 8.46% and a future P/E of 21.56x.
526371
₹85.80
NMDC
7D
5.0%
1Y
31.6%

526371: Rare Earth Collaboration And Dividend Payout Will Drive Future Upside Potential

Analysts have lifted NMDC's fair value estimate from ₹91.00 to ₹100.00, citing updated assumptions for revenue growth, profit margins, and the future P/E multiple that collectively support a slightly higher assessed valuation. What's in the News Gujarat Mineral Development Corporation Ltd.
JINDALSTEL
₹1,218.50
Jindal Steel
7D
4.3%
1Y
44.2%

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
₹1,204.00
JSW Steel
7D
4.6%
1Y
19.4%

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.
SAIL
₹167.88
Steel Authority of India
7D
4.5%
1Y
48.2%

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.
513472
₹482.75
Simplex Castings
7D
-6.7%
1Y
98.1%
539006
₹14,937.00
PTC Industries
7D
-6.6%
1Y
2.9%
513554
₹929.75
Mahamaya Steel Industries
7D
-1.0%
1Y
294.0%
513532
₹370.45
Pradeep Metals
7D
-3.7%
1Y
63.7%
517449
₹911.10
Magna Electro Castings
7D
-1.8%
1Y
-0.07%
BHARATCOAL
₹32.56
Bharat Coking Coal
7D
-0.2%
1Y
n/a
MANAKCOAT
₹105.01
Manaksia Coated Metals & Industries
7D
-1.9%
1Y
24.0%