# Ferro Alloys — company-by-company sector analysis > Ferro Alloys: Maithan Alloys Ltd owns the largest revenue base AND the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-20. Not investment advice. ## Bottom line Ferro Alloys has underperformed NIFTY 500 by 26.9% over 52 weeks and 6.6% over 13 weeks. 0 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. Maithan Alloys Ltd leads with revenue of ₹2,080 crore, based on 1 of 1 comparable companies through Jun 2026. ## Sector relative strength Ferro Alloys has underperformed NIFTY 500 by 26.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 6.6%. 0 of 1 covered company currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Maithan Alloys Ltd is the strongest against the sector itself at 0%. 13-week sector return versus NIFTY 500: -6.6% 52-week sector return versus NIFTY 500: -27% Stocks leading NIFTY: 0/1 Stocks leading sector: 0/1 Central tension: The central tension: current leadership is concentrated, so durability matters more than rank. Companies: 1 Combined market value: ₹2.8K Cr ## 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. 1. Maithan Alloys Ltd (MAITHANALL): 50/100 — Mixed-negative evidence; evidence 91% - Growth & earnings 15.3/35 | Capital efficiency 11.8/25 | Valuation 15.1/20 | Relative strength 7.5/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of 10 weeks with a reading, within the last 12 - Exact sum: 15.3 + 11.8 + 15.1 + 7.5 = 49.7 - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. ## Market action Maithan Alloys Ltd has the strongest one-year price move in Ferro Alloys at -8%. It also leads on Mansfield relative strength against NIFTY at -6.4%. 0 of 1 covered company are above zero on that measure. Every line covers 313 weekly closes through 2026-08-14. ### Strongest one-year price performers 1. Maithan Alloys Ltd (MAITHANALL): -8.0% ### Strongest relative strength versus NIFTY 500 1. Maithan Alloys Ltd (MAITHANALL): -6.4% ## Revenue Scale & Growth Durability What the numbers say: Maithan Alloys Ltd is the scale leader at ₹2,080 crore, Maithan Alloys Ltd's growth is 0.9% from a ₹2,080 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: Maithan Alloys Ltd is the scale benchmark; Maithan Alloys Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: Maithan Alloys Ltd's growth falls below Maithan Alloys Ltd's for two consecutive comparable reports while operating margin also compresses. Evidence: Maithan Alloys Ltd · ₹2,080 crore | Not enough peers | 6/8 recent comparable periods | 1/1 companies · 20 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. Maithan Alloys Ltd (MAITHANALL): ₹2.1K Cr ### Revenue growth — fastest growers 1. Maithan Alloys Ltd (MAITHANALL): 0.9% ### 20-quarter Revenue history - MAITHANALL: Sep 2021 ₹666 Cr | Dec 2021 ₹923 Cr | Mar 2022 ₹837 Cr | Jun 2022 ₹1.0K Cr | Sep 2022 ₹690 Cr | Dec 2022 ₹685 Cr | Mar 2023 ₹535 Cr | Jun 2023 ₹404 Cr | Sep 2023 ₹444 Cr | Dec 2023 ₹448 Cr | Mar 2024 ₹433 Cr | Jun 2024 ₹375 Cr | Sep 2024 ₹464 Cr | Dec 2024 ₹531 Cr | Mar 2025 ₹435 Cr | Jun 2025 ₹632 Cr | Sep 2025 ₹491 Cr | Dec 2025 ₹490 Cr | Mar 2026 ₹559 Cr | Jun 2026 ₹540 Cr ### 20-quarter Revenue growth history - MAITHANALL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 80% | Sep 2022 3.6% | Dec 2022 -26% | Mar 2023 -36% | Jun 2023 -60% | Sep 2023 -36% | Dec 2023 -35% | Mar 2024 -19% | Jun 2024 -7.2% | Sep 2024 4.5% | Dec 2024 19% | Mar 2025 0.5% | Jun 2025 69% | Sep 2025 5.8% | Dec 2025 -7.7% | Mar 2026 29% | Jun 2026 -15% ## Operating Economics & Margin Trend What the numbers say: Maithan Alloys Ltd leads both opm at 17% and margin change at +7 percentage points. Investor read: Maithan Alloys 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. Evidence: Maithan Alloys Ltd · 17% | Not enough peers | 6/8 recent comparable periods | 1/1 companies · 20 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Maithan Alloys Ltd (MAITHANALL): 17% ### Margin change — fastest expanders 1. Maithan Alloys Ltd (MAITHANALL): +7.0 pp ### 20-quarter OPM history - MAITHANALL: Sep 2021 33% | Dec 2021 43% | Mar 2022 37% | Jun 2022 35% | Sep 2022 15% | Dec 2022 7.0% | Mar 2023 17% | Jun 2023 10% | Sep 2023 7.0% | Dec 2023 8.0% | Mar 2024 1.5% | Jun 2024 6.0% | Sep 2024 11% | Dec 2024 6.0% | Mar 2025 18% | Jun 2025 10% | Sep 2025 7.0% | Dec 2025 11% | Mar 2026 19% | Jun 2026 17% ### 20-quarter Margin change history - MAITHANALL: Sep 2021 +15.9 pp | Dec 2021 +27.1 pp | Mar 2022 +15.0 pp | Jun 2022 +10.4 pp | Sep 2022 −18.0 pp | Dec 2022 −35.7 pp | Mar 2023 −20.2 pp | Jun 2023 −25.3 pp | Sep 2023 −8.3 pp | Dec 2023 +1.0 pp | Mar 2024 −15.5 pp | Jun 2024 −4.0 pp | Sep 2024 +4.0 pp | Dec 2024 −2.0 pp | Mar 2025 +16.5 pp | Jun 2025 +4.0 pp | Sep 2025 −4.0 pp | Dec 2025 +5.0 pp | Mar 2026 +1.0 pp | Jun 2026 +7.0 pp ## Profit Scale & Acceleration What the numbers say: Maithan Alloys Ltd leads with ₹299 crore of TTM profit, Maithan Alloys Ltd shows -58.1% growth from a ₹299 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: Maithan Alloys 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. Evidence: Maithan Alloys Ltd · ₹299 crore | Not enough peers | 5/8 recent comparable periods | 1/1 companies · 20 observations Definition: 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 — largest 1. Maithan Alloys Ltd (MAITHANALL): ₹299 Cr ### Profit growth — fastest growers 1. Maithan Alloys Ltd (MAITHANALL): -58% ### 20-quarter Net profit history - MAITHANALL: Sep 2021 ₹164 Cr | Dec 2021 ₹300 Cr | Mar 2022 ₹242 Cr | Jun 2022 ₹219 Cr | Sep 2022 ₹109 Cr | Dec 2022 ₹73 Cr | Mar 2023 ₹98 Cr | Jun 2023 ₹60 Cr | Sep 2023 ₹62 Cr | Dec 2023 ₹85 Cr | Mar 2024 ₹142 Cr | Jun 2024 ₹456 Cr | Sep 2024 ₹143 Cr | Dec 2024 ₹90 Cr | Mar 2025 ₹-58 Cr | Jun 2025 ₹538 Cr | Sep 2025 ₹-119 Cr | Dec 2025 ₹93 Cr | Mar 2026 ₹-71 Cr | Jun 2026 ₹396 Cr ### 20-quarter Profit growth history - MAITHANALL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 96% | Sep 2022 -34% | Dec 2022 -76% | Mar 2023 -60% | Jun 2023 -73% | Sep 2023 -43% | Dec 2023 16% | Mar 2024 45% | Jun 2024 660% | Sep 2024 131% | Dec 2024 5.9% | Mar 2025 -141% | Jun 2025 18% | Sep 2025 -183% | Dec 2025 3.3% | Mar 2026 — | Jun 2026 -26% ## Return On Capital Employed What the numbers say: Maithan Alloys Ltd leads ROCE at 14.8%. Maithan Alloys Ltd has the strongest latest improvement at +1.6 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. Investor read: Maithan Alloys 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. Evidence: Maithan Alloys Ltd · 14.8% | Not enough peers | 4/8 recent comparable periods | 1/1 companies · 15 observations Definition: 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. ### ROCE — highest 1. Maithan Alloys Ltd (MAITHANALL): 15% ### ROCE change — fastest improvers 1. Maithan Alloys Ltd (MAITHANALL): +1.6 pp ### 20-quarter ROCE history - MAITHANALL: Sep 2021 29% | Dec 2021 — | Mar 2022 45% | Jun 2022 — | Sep 2022 43% | Dec 2022 — | Mar 2023 20% | Jun 2023 — | Sep 2023 6.4% | Dec 2023 14% | Mar 2024 2.9% | Jun 2024 31% | Sep 2024 2.3% | Dec 2024 32% | Mar 2025 3.8% | Jun 2025 28% | Sep 2025 4.0% | Dec 2025 16% | Mar 2026 5.4% | Jun 2026 — ### 20-quarter ROCE change history - MAITHANALL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +14.5 pp | Dec 2022 — | Mar 2023 −24.5 pp | Jun 2023 — | Sep 2023 −36.8 pp | Dec 2023 — | Mar 2024 −17.4 pp | Jun 2024 — | Sep 2024 −4.1 pp | Dec 2024 +17.5 pp | Mar 2025 +0.9 pp | Jun 2025 −3.5 pp | Sep 2025 +1.7 pp | Dec 2025 −16.0 pp | Mar 2026 +1.6 pp | Jun 2026 — ## Valuation Against Growth & Quality What the numbers say: Maithan Alloys Ltd has the lowest comparable PEG at 0.35×. Only 1 of 1 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree. 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. Evidence: Maithan Alloys Ltd · 0.35× | Not enough peers | 0/8 recent comparable periods | 1/1 companies · 2 observations Definition: 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. ### PEG — lowest PEG 1. Maithan Alloys Ltd (MAITHANALL): 0.4 ### P/E — lowest P/E 1. Maithan Alloys Ltd (MAITHANALL): 9.7 ### 20-quarter PEG history - MAITHANALL: Sep 2021 0.2 | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.4 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — ### 20-quarter P/E history - MAITHANALL: Sep 2021 9.3 | Dec 2021 7.1 | Mar 2022 5.9 | Jun 2022 3.1 | Sep 2022 2.8 | Dec 2022 3.1 | Mar 2023 3.2 | Jun 2023 4.9 | Sep 2023 8.7 | Dec 2023 11.8 | Mar 2024 9.4 | Jun 2024 9.9 | Sep 2024 4.5 | Dec 2024 3.9 | Mar 2025 3.1 | Jun 2025 5.7 | Sep 2025 4.6 | Dec 2025 6.4 | Mar 2026 5.8 | Jun 2026 6.8 ## What can make this comparison misleading? - 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. ## Every company - Maithan Alloys Ltd (MAITHANALL) — market value ₹2.8K Cr; latest fundamentals Jun 2026 ## Source standing of each company Cross-checked: 1. Unverified: 0. Withheld: 0. Graded companies: 1. Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld. ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-14. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Ferro Alloys sector outperforming NIFTY 500? Ferro Alloys has underperformed NIFTY 500 by 26.9% over 52 weeks and 6.6% over 13 weeks. 0 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. ### Which Ferro Alloys company is largest by revenue? Maithan Alloys Ltd leads with revenue of ₹2,080 crore, based on 1 of 1 comparable companies through Jun 2026. ### Which Ferro Alloys company is growing fastest? Maithan Alloys Ltd has the fastest current revenue growth at 0.9%, across 1 of 1 comparable companies. ### Which Ferro Alloys company has the strongest 4-Factor Sector Score? Maithan Alloys Ltd ranks first at 49.7/100 with 91% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### Which Ferro Alloys company has the lowest comparable PEG? Maithan Alloys Ltd has the lowest comparable PEG at 0.35, among 1 of 1 companies whose earnings and growth are steady enough for the ratio to mean anything. ### How much history does this Ferro Alloys 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 Ferro Alloys 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 Ferro Alloys, this page builds its own equal-weight basket of 1 listed Ferro Alloys 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 Ferro Alloys stocks in India? Ranked by this page's four-factor score, Maithan Alloys Ltd places first among 1 listed Ferro Alloys companies. 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 Ferro Alloys stocks are listed in India? This comparison covers 1 listed Ferro Alloys 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 Ferro Alloys company is the biggest? Maithan Alloys Ltd is the largest, with trailing-twelve-month revenue of ₹2,080 crore. That covers 1 of 1 companies with comparable reporting through Jun 2026. ### Which Ferro Alloys company has the best profit margins? Maithan Alloys Ltd has the highest operating margin at 17%, from 1 of 1 comparable companies. Maithan Alloys Ltd shows the biggest recent improvement, at +7 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Ferro Alloys company makes the most profit? Maithan Alloys Ltd earns the most, at ₹299 crore of trailing-twelve-month net profit, from 1 of 1 comparable companies. Maithan Alloys Ltd has the fastest profit growth at -58.1%, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Ferro Alloys company earns the highest return on capital? Maithan Alloys Ltd leads on return on capital employed at 14.8%, across 1 of 1 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. ### Which Ferro Alloys stock is the cheapest? On PEG — where a LOWER number is cheaper — Maithan Alloys Ltd screens cheapest at 0.35×. All 1 companies qualify for the ratio comparison. Cheap on a multiple is a reason to investigate, never a reason to buy on its own. ### Is the Ferro Alloys sector beating the market? Ferro Alloys has underperformed NIFTY 500 by 26.9% over the last 52 weeks and 6.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 0 of 1 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it. ### Which Ferro Alloys stock has the strongest price momentum? Maithan Alloys 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 Ferro Alloys company scores highest for research priority? Maithan Alloys Ltd scores 49.7 out of 100 with 91% evidence confidence, from 15.3 points on growth and earnings, 11.8 on capital efficiency, 15.1 on valuation and 7.5 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 Ferro Alloys companies does this comparison cover, and over what period? It compares 1 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 Ferro Alloys sector? The 1 Ferro Alloys companies on this page carry ₹2,827 crore of combined market value. Maithan Alloys Ltd is the largest at ₹2,827 crore, about 100% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-20. ### How is the Ferro Alloys sector performing? 0 of the 1 covered Ferro Alloys companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 26.9% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-20. ### 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.