20-quarter listed-company comparison

Steel - Sponge Iron Stocks in India

Steel - Sponge Iron: MSP Steel & Power Ltd owns the largest revenue base AND the fastest current growth.

01 · the index people search for

Nifty Steel - Sponge Iron Index — Constituents & Performance

The Steel - Sponge Iron companies below are the listed Indian Steel - Sponge Iron universe this page tracks — the same constituent set people search for as the Nifty Steel - Sponge Iron index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · sector relative strength, before individual stocks

Is Steel - Sponge Iron outperforming NIFTY 500?

Steel - Sponge Iron has outperformed NIFTY 500 by 116% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 7.5%. 1 of 2 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. S.A.L Steel Ltd is the strongest against the sector itself at +16.2%.

-7.5%Sector vs NIFTY 500 · 13 weeks

+116.0%Sector vs NIFTY 500 · 52 weeks

1/2Stocks leading NIFTY 500

1/2Stocks leading sector

Sector metric: 6.2 as of 2026-08-09 · LEADERS · rising.

The central tension: current leadership is concentrated, so durability matters more than rank.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Steel - Sponge Iron has outperformed NIFTY 500 by 116% over 52 weeks and 7.5% over 13 weeks. 1 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself. MSP Steel & Power Ltd leads with revenue of ₹2,959 crore, based on 2 of 2 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

₹2.9K Cr

MSP Steel & Power Ltd

Revenue growing

1/2

positive TTM year-on-year growth

Beating NIFTY 500

1/2

positive Mansfield relative strength

Comparing 2 of 2

03 · research priority, made explicit

Best Steel - Sponge Iron Stocks in India (Aug 2026), Ranked by Data

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

S.A.L Steel Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 65.4% evidence confidence.

S.A.L Steel Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Top 10 Steel - Sponge Iron Stocks in India

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1S.A.L Steel LtdSALSTEEL	47.2/100Mixed-negative evidence65% evidence	FADING	13.0/35 Revenue -61.9% · PAT 94.7% · OPM change 59.4 pp 62% evidence	5.2/25 ROCE 1.1% · OPM 59.2% 95% evidence	10.0/20 P/E — · PEG — 0% evidence	19.0/20 RS sector 16.2% · RS bench 37.7% · 1Y 275.8%8 of 12 weeks ahead 100% evidence
Exact sum: 13 + 5.2 + 10 + 19 = 47.2 · Decision use: Price leads the evidence: RS versus the benchmark is 37.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
2MSP Steel & Power LtdMSPL	45.1/100Mixed-negative evidence84% evidence	FADING	22.5/35 Revenue 4% · PAT 100% · OPM change 0 pp 95% evidence	4.5/25 ROCE 9.7% · OPM 6% 95% evidence	12.7/20 P/E 14.6× · PEG — 35% evidence	5.4/20 RS sector -20.2% · RS bench -0.8% · 1Y 6.8%8 of 12 weeks ahead 100% evidence
Exact sum: 22.5 + 4.5 + 12.7 + 5.4 = 45.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

04 · what price has already done

Market action

S.A.L Steel Ltd has the strongest one-year price move in Steel - Sponge Iron at +275.8%. It also leads on Mansfield relative strength against NIFTY at +37.7%. 1 of 2 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-08-07.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · the story behind the numbers

Steel - Sponge Iron — the story behind the numbers

This is the written read behind the Steel - Sponge Iron figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 18 Apr 2026, so the words are older than the numbers. 2 themes are live here, 1 of them rated high severity.

The sector is in a state of structural flux, characterized by ownership changes and debt restructuring rather than organic growth. While EBITDA growth and interest cost reductions are positive signs, the massive revenue declines and high commodity sensitivity necessitate a cautious approach until demand stabilizes.

The Sponge Iron and Steel sector is currently navigating a period of severe revenue contraction, as evidenced by the Q3 FY26 results of MSPL and SAL Steel. MSPL saw a 10.87% YoY decline in revenue to ₹638.92 Cr, while SAL Steel experienced a near-total collapse, with revenue falling 98.86% to just ₹2.20 Cr due to extensive maintenance shutdowns.

How old this read is: STALE — this read comes from our Steel - Sponge Iron sector brief dated 18 Apr 2026, about 4 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Live theme	Severity	Evidence on file
Rising coking coal costs and raw material price volatility are pressuring the sector.Named for MSPL, SALSTEEL	high	“Rising coking coal costs and lower steel realizations are pressuring margins across the sector.” MSPL is focusing on backward integration and captive production of raw materials.
Risks include high promoter pledging (75.95% at MSPL) and pending tax disputes regarding ocean freight at SALSTEEL.Named for MSPL, SALSTEEL	medium	“Pending tax disputes regarding service tax on ocean freight and operational debt claims.” SALSTEEL claims no malafide intention in tax matters; MSPL promoters are purchasing shares to offset pledging risks.

Sources: our Steel - Sponge Iron sector brief, 18 Apr 2026 · company earnings-call transcripts.

06 · compare level, then change

Revenue Scale & Growth Durability

MSP Steel & Power Ltd has the highest Revenue among the 2 Steel - Sponge Iron companies compared here, at ₹2,959 crore. S.A.L Steel Ltd is next at ₹208 crore. The same company also holds the highest Revenue growth, at 4%. 2 of 2 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: MSP Steel & Power Ltd is the scale leader at ₹2,959 crore, 14.3× the revenue of S.A.L Steel Ltd. MSP Steel & Power Ltd's growth is 4% from a ₹2,959 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderMSP Steel & Power Ltd · ₹2,959 crore

Gap14.3× versus #2 · S.A.L Steel Ltd

Persistence4/8 recent comparable periods

Coverage2/2 companies · 30 observations

Investor read: MSP Steel & Power Ltd is the scale benchmark; MSP Steel & Power Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: MSP Steel & Power Ltd's growth falls below MSP Steel & Power Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1MSP Steel & Power Ltd MSPL⚠ unverified₹3.0K Cr

2S.A.L Steel Ltd SALSTEEL⚠ unverified₹208 Cr

Revenue growthfastest growers

1MSP Steel & Power Ltd MSPL⚠ unverified4.0%

2S.A.L Steel Ltd SALSTEEL⚠ unverified-62%

Revenue · company comparison

2/2 level · 2/2 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
MSP Steel & Power Ltd MSPL⚠ unverified	₹827 Cr	16%	Jun 2026
S.A.L Steel Ltd SALSTEEL⚠ unverified	₹12 Cr	-90%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹662 Cr

Mar 2023₹677 Cr

Jun 2023₹671 Cr

Sep 2023₹674 Cr

Dec 2023₹781 Cr

Mar 2024₹748 Cr

Jun 2024₹772 Cr

Sep 2024₹656 Cr

Dec 2024₹717 Cr

Mar 2025₹760 Cr

Jun 2025₹711 Cr

Sep 2025₹677 Cr

Dec 2025₹639 Cr

Mar 2026₹816 Cr

Jun 2026₹827 Cr

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹137 Cr

Dec 2022₹142 Cr

Mar 2023₹112 Cr

Jun 2023₹154 Cr

Sep 2023₹157 Cr

Dec 2023₹130 Cr

Mar 2024₹139 Cr

Jun 2024₹111 Cr

Sep 2024₹124 Cr

Dec 2024₹194 Cr

Mar 2025₹117 Cr

Jun 2025₹128 Cr

Sep 2025₹66 Cr

Dec 2025₹2 Cr

Mar 2026₹12 Cr

Jun 2026—

Revenue growth · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202318%

Mar 202410%

Jun 202415%

Sep 2024-2.7%

Dec 2024-8.2%

Mar 20251.6%

Jun 2025-7.9%

Sep 20253.2%

Dec 2025-11%

Mar 20267.4%

Jun 202616%

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202314%

Dec 2023-8.9%

Mar 202424%

Jun 2024-28%

Sep 2024-21%

Dec 202450%

Mar 2025-16%

Jun 202515%

Sep 2025-47%

Dec 2025-99%

Mar 2026-90%

Jun 2026—

07 · compare level, then change

Operating Economics & Margin Trend

S.A.L Steel Ltd has the highest OPM among the 2 Steel - Sponge Iron companies compared here, at 59.2%. MSP Steel & Power Ltd is next at 6%. The same company also holds the highest Margin change, at +59.4 percentage points. 2 of 2 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: S.A.L Steel Ltd leads both opm at 59.2% and margin change at +59.4 percentage points.

LeaderS.A.L Steel Ltd · 59.2%

Gap886.7% versus #2 · MSP Steel & Power Ltd

Persistence5/8 recent comparable periods

Coverage2/2 companies · 39 observations

Investor read: S.A.L Steel Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1S.A.L Steel Ltd SALSTEEL⚠ unverified59%

2MSP Steel & Power Ltd MSPL⚠ unverified6.0%

Margin changefastest expanders

1S.A.L Steel Ltd SALSTEEL⚠ unverified+59.4 pp

2MSP Steel & Power Ltd MSPL⚠ unverified0.0 pp

Operating margin · company comparison

2/2 level · 2/2 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
S.A.L Steel Ltd SALSTEEL⚠ unverified	59%	+59.4 pp	Mar 2026
MSP Steel & Power Ltd MSPL⚠ unverified	6.0%	0.0 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 20217.3%

Dec 20214.3%

Mar 20227.6%

Jun 20222.2%

Sep 2022-5.8%

Dec 20224.6%

Mar 20238.0%

Jun 20234.4%

Sep 20234.3%

Dec 20235.0%

Mar 20243.3%

Jun 20246.0%

Sep 20244.1%

Dec 20242.7%

Mar 20256.0%

Jun 20256.0%

Sep 20253.4%

Dec 20255.0%

Mar 20269.0%

Jun 20266.0%

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 20216.2%

Dec 20211.8%

Mar 20225.2%

Jun 20222.2%

Sep 20225.2%

Dec 20225.1%

Mar 20235.2%

Jun 20233.7%

Sep 20233.7%

Dec 20231.8%

Mar 20246.7%

Jun 20245.4%

Sep 20244.8%

Dec 20246.2%

Mar 2025-0.1%

Jun 2025-4.2%

Sep 202520%

Dec 2025-1.4%

Mar 202659%

Jun 2026—

Margin change · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 2021−3.4 pp

Dec 2021−3.2 pp

Mar 2022−0.6 pp

Jun 2022−5.1 pp

Sep 2022−13.1 pp

Dec 2022+0.3 pp

Mar 2023+0.4 pp

Jun 2023+2.2 pp

Sep 2023+10.1 pp

Dec 2023+0.5 pp

Mar 2024−4.7 pp

Jun 2024+1.6 pp

Sep 2024−0.2 pp

Dec 2024−2.3 pp

Mar 2025+2.7 pp

Jun 20250.0 pp

Sep 2025−0.7 pp

Dec 2025+2.3 pp

Mar 2026+3.0 pp

Jun 20260.0 pp

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 2021+9.0 pp

Dec 2021−4.2 pp

Mar 2022−10.1 pp

Jun 2022−4.1 pp

Sep 2022−1.0 pp

Dec 2022+3.3 pp

Mar 2023−0.1 pp

Jun 2023+1.4 pp

Sep 2023−1.5 pp

Dec 2023−3.4 pp

Mar 2024+1.5 pp

Jun 2024+1.7 pp

Sep 2024+1.1 pp

Dec 2024+4.5 pp

Mar 2025−6.8 pp

Jun 2025−9.6 pp

Sep 2025+15.0 pp

Dec 2025−7.6 pp

Mar 2026+59.4 pp

Jun 2026—

08 · compare level, then change

Profit Scale & Acceleration

MSP Steel & Power Ltd has the highest Net profit among the 2 Steel - Sponge Iron companies compared here, at ₹37 crore. S.A.L Steel Ltd is next at ₹0 crore net cash. The same company also holds the highest Profit growth, at the 100% top of the scoring scale.

What the numbers say: MSP Steel & Power Ltd leads with ₹37 crore of TTM profit, 109× the profit of S.A.L Steel Ltd. MSP Steel & Power Ltd shows ≥100% on the scoring scale growth from a ₹37 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderMSP Steel & Power Ltd · ₹37 crore

Gap109× versus #2 · S.A.L Steel Ltd

Persistence4/7 recent comparable periods

Coverage2/2 companies · 30 observations

Investor read: MSP Steel & Power Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1MSP Steel & Power Ltd MSPL⚠ unverified₹37 Cr

2S.A.L Steel Ltd SALSTEEL⚠ unverified₹-0 Cr

Profit growthfastest growers

1MSP Steel & Power Ltd MSPL⚠ unverified100%

Net profit · company comparison

2/2 level · 1/2 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
MSP Steel & Power Ltd MSPL⚠ unverified	₹22 Cr	22%	Jun 2026
S.A.L Steel Ltd SALSTEEL⚠ unverified	₹-1 Cr	6,117%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹3 Cr

Mar 2023₹20 Cr

Jun 2023₹-2 Cr

Sep 2023₹-2 Cr

Dec 2023₹5 Cr

Mar 2024₹13 Cr

Jun 2024₹7 Cr

Sep 2024₹-10 Cr

Dec 2024₹8 Cr

Mar 2025₹-34 Cr

Jun 2025₹18 Cr

Sep 2025₹-75 Cr

Dec 2025₹5 Cr

Mar 2026₹85 Cr

Jun 2026₹22 Cr

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹3 Cr

Dec 2022₹1 Cr

Mar 2023₹-0 Cr

Jun 2023₹0 Cr

Sep 2023₹0 Cr

Dec 2023₹-2 Cr

Mar 2024₹3 Cr

Jun 2024₹0 Cr

Sep 2024₹0 Cr

Dec 2024₹-1 Cr

Mar 2025₹-6 Cr

Jun 2025₹-10 Cr

Sep 2025₹4 Cr

Dec 2025₹7 Cr

Mar 2026₹-1 Cr

Jun 2026—

Profit growth · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023100%

Mar 2024-35%

Jun 2024—

Sep 2024—

Dec 202460%

Mar 2025-362%

Jun 2025157%

Sep 2025—

Dec 2025-38%

Mar 2026—

Jun 202622%

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023-95%

Dec 2023-402%

Mar 2024—

Jun 202460%

Sep 2024-57%

Dec 2024—

Mar 2025-321%

Jun 2025-6,150%

Sep 20256,117%

Dec 2025—

Mar 2026—

Jun 2026—

09 · compare level, then change

Return On Capital Employed

MSP Steel & Power Ltd has the highest ROCE among the 2 Steel - Sponge Iron companies compared here, at 9.7%. S.A.L Steel Ltd is next at 1.1%. The same company also holds the highest ROCE change, at +3.7 percentage points. 2 of 2 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: MSP Steel & Power Ltd leads ROCE at 9.7%, 8.6 percentage points above S.A.L Steel Ltd. MSP Steel & Power Ltd has the strongest latest improvement at +3.7 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderMSP Steel & Power Ltd · 9.7%

Gap797.2% versus #2 · S.A.L Steel Ltd

Persistence4/8 recent comparable periods

Coverage2/2 companies · 31 observations

Investor read: MSP Steel & Power Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1MSP Steel & Power Ltd MSPL⚠ unverified9.7%

2S.A.L Steel Ltd SALSTEEL⚠ unverified1.1%

ROCE changefastest improvers

1MSP Steel & Power Ltd MSPL⚠ unverified+3.7 pp

2S.A.L Steel Ltd SALSTEEL⚠ unverified−6.4 pp

Return on capital · company comparison

2/2 level · 2/2 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
MSP Steel & Power Ltd MSPL⚠ unverified	12%	+3.7 pp	Jun 2026
S.A.L Steel Ltd SALSTEEL⚠ unverified	0.8%	−6.4 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 202110%

Dec 2021—

Mar 20228.8%

Jun 2022—

Sep 20220.0%

Dec 2022—

Mar 20231.1%

Jun 2023—

Sep 20238.6%

Dec 202312%

Mar 20246.6%

Jun 202411%

Sep 20247.6%

Dec 20247.6%

Mar 20258.0%

Jun 20258.2%

Sep 20258.3%

Dec 2025-0.7%

Mar 202612%

Jun 2026—

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 202119%

Dec 2021—

Mar 202227%

Jun 2022—

Sep 20226.7%

Dec 2022—

Mar 20237.0%

Jun 202313%

Sep 20237.9%

Dec 20235.3%

Mar 20247.0%

Jun 20247.2%

Sep 20246.9%

Dec 202410%

Mar 20257.2%

Jun 2025-1.3%

Sep 20255.0%

Dec 20256.9%

Mar 20260.8%

Jun 2026—

ROCE change · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−10.0 pp

Dec 2022—

Mar 2023−7.7 pp

Jun 2023—

Sep 2023+8.6 pp

Dec 2023—

Mar 2024+5.5 pp

Jun 2024—

Sep 2024−1.0 pp

Dec 2024−4.6 pp

Mar 2025+1.4 pp

Jun 2025−2.9 pp

Sep 2025+0.7 pp

Dec 2025−8.3 pp

Mar 2026+3.7 pp

Jun 2026—

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−12.7 pp

Dec 2022—

Mar 2023−20.0 pp

Jun 2023—

Sep 2023+1.2 pp

Dec 2023—

Mar 20240.0 pp

Jun 2024−6.0 pp

Sep 2024−1.0 pp

Dec 2024+4.7 pp

Mar 2025+0.2 pp

Jun 2025−8.5 pp

Sep 2025−1.9 pp

Dec 2025−3.1 pp

Mar 2026−6.4 pp

Jun 2026—

10 · compare level, then change

Valuation Against Growth & Quality

No company in this Steel - Sponge Iron comparison reports a valuation figure this section can compare, so the PEG rank is empty. On P/E, MSP Steel & Power Ltd is lowest at 14.6×, across 1 of 2 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable peg leader.

LeaderNo comparable leader

GapNot enough peers

PersistenceNot enough history

Coverage0/2 companies · 0 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

—Not enough comparable data—

P/Elowest P/E

1MSP Steel & Power Ltd MSPL⚠ unverified14.6

Valuation · company comparison

0/2 level · 1/2 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
MSP Steel & Power Ltd MSPL⚠ unverified	—	17.5	Jun 2026
S.A.L Steel Ltd SALSTEEL⚠ unverified	—	-85.6	Mar 2026

Full 20-quarter history · every available company

No consistent historical series is available for peg.

P/E · reported quarter history

MSP Steel & Power Ltd · MSPL⚠ unverified

Sep 202112.6

Dec 202119.6

Mar 202218.8

Jun 202214.9

Sep 2022132.9

Dec 2022140.7

Mar 2023-6.0

Jun 2023—

Sep 2023—

Dec 202350.7

Mar 202456.7

Jun 202470.0

Sep 202495.0

Dec 2024101.5

Mar 202559.4

Jun 202558.8

Sep 2025—

Dec 2025111.2

Mar 202695.3

Jun 202617.5

S.A.L Steel Ltd · SALSTEEL⚠ unverified

Sep 20215.4

Dec 20214.7

Mar 20224.3

Jun 20226.1

Sep 202216.6

Dec 202216.2

Mar 202313.6

Jun 202338.0

Sep 202340.1

Dec 2023220.9

Mar 2024228.2

Jun 2024322.6

Sep 2024517.1

Dec 2024—

Mar 202527.9

Jun 202529.1

Sep 2025-19.0

Dec 2025-85.6

Mar 2026—

Jun 2026—

11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Steel - Sponge Iron comparison names 6 specific ways its own evidence can mislead, all listed below. All 2 companies here report on comparable dates, so no rank carries a stale marker. 2 draw at least one figure from a second feed with too little overlap to cross-check. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
2 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
Thin comparisons: Valuation have fewer than three usable current readings.

12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 2 Steel - Sponge Iron companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-08-07. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-08-07 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing0 cross-checked · 2 unverified · 0 withheld, of 2 graded companies.

How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

13 · questions investors ask, short speakable answers

Steel - Sponge Iron company comparison FAQs

These 21 answers restate the Steel - Sponge Iron comparison above in question form. Every one is computed from the same 2 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-08-07. Nothing here is estimated, and none of it is a recommendation.

Is the Steel - Sponge Iron sector outperforming NIFTY 500?

Steel - Sponge Iron has outperformed NIFTY 500 by 116% over 52 weeks and 7.5% over 13 weeks. 1 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself.

Which Steel - Sponge Iron company is largest by revenue?

MSP Steel & Power Ltd leads with revenue of ₹2,959 crore, based on 2 of 2 comparable companies through Jun 2026.

Which Steel - Sponge Iron company is growing fastest?

MSP Steel & Power Ltd has the fastest current revenue growth at 4%, across 2 of 2 comparable companies.

Which Steel - Sponge Iron company has the strongest 4-Factor Sector Score?

S.A.L Steel Ltd ranks first at 47.2/100 with 65.4% evidence confidence. The score prioritizes research; it is not a buy recommendation.

How much history does this Steel - Sponge Iron comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Is there a Nifty Steel - Sponge Iron index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Steel - Sponge Iron, this page builds its own equal-weight basket of 2 listed Steel - Sponge Iron companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

Which are the best Steel - Sponge Iron stocks in India?

Ranked by this page's four-factor score, S.A.L Steel Ltd places first among 2 listed Steel - Sponge Iron companies, followed by MSP Steel & Power Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Steel - Sponge Iron stocks are listed in India?

This comparison covers 2 listed Steel - Sponge Iron companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Steel - Sponge Iron company is the biggest?

MSP Steel & Power Ltd is the largest, with trailing-twelve-month revenue of ₹2,959 crore, ahead of S.A.L Steel Ltd at ₹208 crore. That covers 2 of 2 companies with comparable reporting through Jun 2026.

Which Steel - Sponge Iron company has the best profit margins?

S.A.L Steel Ltd has the highest operating margin at 59.2%, from 2 of 2 comparable companies. S.A.L Steel Ltd shows the biggest improvement (+59.4 percentage points — see the chart above for the starting level). A high margin matters most when it is holding or rising, not when it is peaking.

Which Steel - Sponge Iron company makes the most profit?

MSP Steel & Power Ltd earns the most, at ₹37 crore of trailing-twelve-month net profit, from 2 of 2 comparable companies. MSP Steel & Power Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

Which Steel - Sponge Iron company earns the highest return on capital?

MSP Steel & Power Ltd leads on return on capital employed at 9.7%, across 2 of 2 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Is the Steel - Sponge Iron sector beating the market?

Steel - Sponge Iron has outperformed NIFTY 500 by 116% over the last 52 weeks and 7.5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 2 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Steel - Sponge Iron stock has the strongest price momentum?

S.A.L Steel Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Steel - Sponge Iron company scores highest for research priority?

S.A.L Steel Ltd scores 47.2 out of 100 with 65.4% evidence confidence, from 13 points on growth and earnings, 5.2 on capital efficiency, 10 on valuation and 19 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Steel - Sponge Iron companies does this comparison cover, and over what period?

It compares 2 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Steel - Sponge Iron sector?

The 2 Steel - Sponge Iron companies on this page carry ₹2,935 crore of combined market value. MSP Steel & Power Ltd is the largest at ₹2,041 crore, about 70% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-15.

How is the Steel - Sponge Iron sector performing?

1 of the 2 covered Steel - Sponge Iron companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 116% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-15.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.