Aluminium Products Stocks and Companies in India

The largest Aluminium Products stocks in India by market value are Manaksia Coated Metals & Industries (₹1,701 crore), Arfin India (₹1,587 crore) and MMP Industries (₹1,085 crore), at prices of 6 Nov 2026.

• Manaksia Coated Metals & Industries: ₹159.15 | market value ₹1,701 crore | P/E 37.3
• Arfin India: ₹94.15 | market value ₹1,587 crore | P/E 80.7
• MMP Industries: ₹427.35 | market value ₹1,085 crore | P/E 21.8
• Maan Aluminium: ₹101.80 | market value ₹611 crore | P/E 45.6

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 6 Nov 2026; the score list below uses the weekly figures.

All 4 listed Indian Aluminium Products companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Aluminium Products index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. Every figure is equal-weighted across those companies and carries its own as-of date.

1. Manaksia Coated Metals & Industries Ltd₹1,660 cr
2. Arfin India Ltd₹1,610 cr
3. MMP Industries Ltd₹1,080 cr
4. Maan Aluminium Ltd₹524 cr

4 Aluminium Products companies in the Aluminium Products industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 4 are listed below, largest first. The largest is Manaksia Coated Metals & Industries (₹1,655 crore) and the smallest with a market value is Maan Aluminium.

Download all 4 Aluminium Products companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 79% ahead of NIFTY 500. Earnings across its companies grew 53% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 13 weeks running.

Price and the fundamentals both up. 2 of 4 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 13 weeks running; 3 of the 4 companies in the industry index above their 200-day average (no change from four weeks earlier); 2 of those 4 pass the momentum test (1 more than four weeks earlier); earnings rising at 3 of the 4 that report earnings.

Ahead of NIFTY 500 for 13 weeks running and +38.7% over a year, with 1 → 2 of 4 stocks participating. Earnings confirming, 3 of 4 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Aluminium Products has done better than the NIFTY 500 by 28.3% over the last 52 weeks. Over 13 weeks the gap is a lead of 17.5%. MMP Industries Ltd is the strongest against the sector itself at +38.3%.

Aluminium Products has done better than the NIFTY 500 by 28.3% over 52 weeks and by 17.5% over 13 weeks. 2 of 4 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months), and 1 of the 3 with a long enough price history is ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

MMP Industries Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 97% evidence confidence.

Maan Aluminium Ltd scores well on valuation against its peers or its own history, but its earnings have not yet improved enough to back that up.

Arfin India Ltd has the strongest one-year price move in Aluminium Products at +63.7%. MMP Industries Ltd leads on relative strength against the NIFTY, at +59.3%. 3 of 4 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: 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.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Aluminium Products itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

The full curve shows repeated rises and setbacks. The earlier price index fell from 345.2 in March 2018 to 67.5 in March 2020; annual industry profit fell from ₹49 crore in 2018 to ₹8 crore in 2020, then recovered to ₹90 crore in 2023. In the week of 5 October 2026, 75% of 4 Aluminium Products companies were beating the Nifty 500, against 75% on 25 May 2026.

From our industry review of 10 October 2026.

2 of 3 Aluminium Products companies held a results call for April to June 2026. MMP Industries guided: Consolidated revenue to at least double over the next 3 years; blended operating margin 10-11%, not profit, and new electrical businesses potentially ₹300-400 crore.

From the results calls for April to June 2026.

Big funds, foreign and Indian, kept their stake about the same over the last two quarters. Founders and promoters kept theirs about the same.

• Spending on new plants and equipment was ₹154 crore in the last 12 months, 12% more than a year before.
• Projects still being built shrank 15% in a year.
• 1 Aluminium Products call in the last quarters talked about adding capacity.

Big funds = foreign and Indian institutions, change in their share of ownership across 5 Aluminium Products companies, in percentage points.

Ownership and spending as of 10 October 2026.

1 chain of cause and effect links Aluminium Products to other industries right now. Cost shocks reward suppliers that can raise customer prices. For Aluminium Products: Maan's expected recovery over one to two quarters shows that higher input costs have not yet been fully recovered.

From our cross-industry review of 10 October 2026.

The next things that show whether the Aluminium Products story is on course. First: MMP's indicated principal insulator approval by December, followed by actual customer orders.

• MMP's planned wire-rod production from January 2027 and meaningful cable sales in the fourth fiscal quarter.
• Maan's intended input-cost recovery over the next one to two quarters.
• A firm replacement schedule and actual delivery for Maan's delayed Dewas plant.

What would change the story

A new quarterly industry result showing profit below its year-earlier level together with a lower operating margin would break the recovering-profit case behind this second breakout.

From our industry review of 10 October 2026.

Manaksia Coated Metals & Industries Ltd has the highest Revenue among the 4 Aluminium Products companies compared here, at ₹995 crore. MMP Industries Ltd is next at ₹939 crore. Arfin India Ltd has the highest Revenue growth at 54.5%, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Manaksia Coated Metals & Industries Ltd is the largest at ₹995 crore, 6% ahead of MMP Industries Ltd. Arfin India Ltd's growth is 54.5% from a ₹882 crore base, with 20 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Manaksia Coated Metals & Industries Ltd is the size to compare against; Arfin India Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Manaksia Coated Metals & Industries Ltd's growth falls below Arfin India 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.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

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.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Manaksia Coated Metals & Industries Ltd has the highest OPM among the 4 Aluminium Products companies compared here, at 11%. MMP Industries Ltd is next at 8%. MMP Industries Ltd has the highest Margin change at +1 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Manaksia Coated Metals & Industries Ltd leads opm at 11%; MMP Industries Ltd leads margin change at +1 percentage points.

What this means: Manaksia Coated Metals & Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

MMP Industries Ltd has the highest Net profit among the 4 Aluminium Products companies compared here, at ₹55 crore. Manaksia Coated Metals & Industries Ltd is next at ₹45 crore. Arfin India Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: MMP Industries Ltd earns the most, ₹55 crore of profit over the last 12 months, 22.2% above Manaksia Coated Metals & Industries Ltd. Arfin India Ltd shows at least 100% on the scoring scale (196.4% in full) growth from a profit base of ₹20 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: MMP Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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 profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

Manaksia Coated Metals & Industries Ltd has the highest ROCE among the 4 Aluminium Products companies compared here, at 17.8%. Arfin India Ltd is next at 14%. MMP Industries Ltd has the highest ROCE change at +8.5 percentage points, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Manaksia Coated Metals & Industries Ltd leads ROCE at 17.8%, 3.8 percentage points above Arfin India Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: Manaksia Coated Metals & Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

Return on capital · company comparison

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Maan Aluminium Ltd has the lowest PEG among the 4 Aluminium Products companies compared here, at 0.43×. MMP Industries Ltd is next at 0.52×. MMP Industries Ltd has the lowest P/E at 21.7×, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Maan Aluminium Ltd has the lowest comparable PEG at 0.43×, 17.3% below MMP Industries Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

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 worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. 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.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Aluminium Products companies show up on 4 of our India lists. The most are on the copper & metal stocks list (4 companies).

This Aluminium Products comparison names 4 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still come from a very small starting figure.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

This comparison is built from the reported filings of 4 Aluminium Products companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld.

These 23 answers restate the Aluminium Products comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.