Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Steel Stocks in India

Steel: Tata Steel Ltd owns the largest revenue base; Manaksia Steels Ltd has the fastest current growth.

01 · the index people search for

Nifty Steel Index — Constituents & Performance

The Steel companies below are the listed Indian Steel universe this page tracks — the same constituent set people search for as the Nifty Steel 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 · the sector itself · before any single company

How has Steel moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 98% ahead of NIFTY 500. Earnings across its companies grew 64% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 58 weeks running.

FADING · −4 in 4w✓Price and the fundamentals both up1 of 9 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑58w · 7/9 >200d (−1) · 1/9 lead (−4) · EPS 8/9↑

20050020262025202420232022 696333 TRAILING 12-MONTH EPS · 100 AT THE START0100216Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 64.1% on a year ago · 4 reportingDec 2023 · trailing 12-month earnings per share at 148, against 100 at the start · down 55.7% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 77, against 100 at the start · down 29.6% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 72, against 100 at the start · down 7.2% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 73, against 100 at the start · down 46.4% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 52, against 100 at the start · down 40.2% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 56, against 100 at the start · down 24.6% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 60, against 100 at the start · down 6.7% on a year ago · 5 reportingSep 2025 · trailing 12-month earnings per share at 45, against 100 at the start · up 7.8% on a year ago · 6 reportingDec 2025 · trailing 12-month earnings per share at 45, against 100 at the start · up 24.1% on a year ago · 5 reportingMar 2026 · trailing 12-month earnings per share at 202, against 100 at the start · up 129.2% on a year ago · 6 reportingJun 2026 · trailing 12-month earnings per share at 216, against 100 at the start · up 96.0% on a year ago · 4 reportingNot reported yet — earnings trail price by a quarter or two216No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20050020262025202420232022 696333 TRAILING 12-MONTH EPS · 100 AT THE START0100216Jun 24Jun 25Jun 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 64.1% on a year ago · 4 reportingDec 2023 · trailing 12-month earnings per share at 148, against 100 at the start · down 55.7% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 77, against 100 at the start · down 29.6% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 72, against 100 at the start · down 7.2% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 73, against 100 at the start · down 46.4% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 52, against 100 at the start · down 40.2% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 56, against 100 at the start · down 24.6% on a year ago · 6 reportingJun 2025 · trailing 12-month earnings per share at 60, against 100 at the start · down 6.7% on a year ago · 5 reportingSep 2025 · trailing 12-month earnings per share at 45, against 100 at the start · up 7.8% on a year ago · 6 reportingDec 2025 · trailing 12-month earnings per share at 45, against 100 at the start · up 24.1% on a year ago · 5 reportingMar 2026 · trailing 12-month earnings per share at 202, against 100 at the start · up 129.2% on a year ago · 6 reportingJun 2026 · trailing 12-month earnings per share at 216, against 100 at the start · up 96.0% on a year ago · 4 reportingNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Steel, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 9 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically 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 any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Steel outperforming NIFTY 500?

Steel has outperformed NIFTY 500 by 30.3% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 7.9%. 9 of 9 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. India Homes Ltd is the strongest against the sector itself at +35.1%. Readings are as of 2026-07-19.

-7.9%Sector vs NIFTY 500 · 13 weeks
+30.3%Sector vs NIFTY 500 · 52 weeks
9/9Stocks leading NIFTY 500
2/8Stocks leading sector

Sector metric: 11.1 as of 2026-07-19 · CONSOLIDATION · falling.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

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

Bottom line

Steel has outperformed NIFTY 500 by 30.3% over 52 weeks and 7.9% over 13 weeks. 9 of 9 covered companies beat NIFTY on Mansfield relative strength, while 2 of 8 beat the sector itself. Tata Steel Ltd leads with revenue of ₹2,39,755 crore, based on 8 of 10 comparable companies through Jun 2026.

Companies
10
complete canonical membership
Combined market value
₹6.4 L Cr
JSW Steel Ltd
Revenue growing
6/8
positive TTM year-on-year growth
Beating NIFTY 500
9/9
positive Mansfield relative strength
Comparing 5 of 10
04 · research priority, made explicit

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%
Manaksia Steels Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 63.1% evidence confidence.
Steel Authority of India 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.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Manaksia Steels LtdMANAKSTEEL 66.0/100Favorable setup63% evidence 28.5/35 Revenue 78.7% · PAT 100% · OPM change 6.6 pp 83% evidence 14.3/25 ROCE 14.4% · OPM 11% 76% evidence 11.9/20 P/E 11.2× · PEG — 50% evidence 11.3/20 RS sector — · RS bench 6.8% · 1Y — 25% evidence
Exact sum: 28.5 + 14.3 + 11.9 + 11.3 = 66 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2JSW Steel LtdJSWSTEEL 59.9/100Mixed-positive evidence75% evidence ASLEEP 23.8/35 Revenue 12.2% · PAT 100% · OPM change 3 pp 95% evidence 13.4/25 ROCE 11% · OPM 20% 76% evidence 9.3/20 P/E 25.8× · PEG — 15% evidence 13.4/20 RS sector -1.4% · RS bench 5.4% · 1Y 23.7%3 of 12 weeks ahead 100% evidence
Exact sum: 23.8 + 13.4 + 9.3 + 13.4 = 59.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Mangalam Worldwide LtdMWL 52.3/100Mixed-positive evidence87% evidence ASLEEP 22.9/35 Revenue 12.6% · PAT 57.6% · OPM change 3 pp 95% evidence 15.8/25 ROCE 17.7% · OPM 9% 95% evidence 9.0/20 P/E 20.6× · PEG — 50% evidence 4.6/20 RS sector -84.8% · RS bench 26.2% · 1Y -79.4%2 of 12 weeks ahead 100% evidence
Exact sum: 22.9 + 15.8 + 9 + 4.6 = 52.3 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -84.8% and the one-year return is -79.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
4Steel Authority of India LtdSAIL 52.2/100Mixed-positive evidence100% evidence FADING 15.9/35 Revenue 6.5% · PAT 40.8% · OPM change 5 pp 100% evidence 8.6/25 ROCE 7.8% · OPM 16% 100% evidence 14.2/20 P/E 14.5× · PEG 0.71 100% evidence 13.5/20 RS sector 2.7% · RS bench 8.8% · 1Y 29.4%8 of 12 weeks ahead 100% evidence
Exact sum: 15.9 + 8.6 + 14.2 + 13.5 = 52.2 · Decision use: Price leads the evidence: RS versus the benchmark is 8.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
5NMDC Steel LtdNSLNISP 51.0/100Mixed-positive evidence71% evidence FADING 25.4/35 Revenue 60.4% · PAT 100% · OPM change 31 pp 65% evidence 9.5/25 ROCE 3.1% · OPM 21% 100% evidence 8.5/20 P/E 215× · PEG — 15% evidence 7.6/20 RS sector -6.4% · RS bench 0.5% · 1Y 12.3%8 of 12 weeks ahead 100% evidence
Exact sum: 25.4 + 9.5 + 8.5 + 7.6 = 51 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Tata Steel LtdTATASTEEL 45.8/100Mixed-negative evidence93% evidence ASLEEP 19.6/35 Revenue 10.5% · PAT 100% · OPM change 1 pp 100% evidence 10.8/25 ROCE 12.5% · OPM 15% 100% evidence 10.2/20 P/E 20× · PEG 1.74 65% evidence 5.2/20 RS sector -6% · RS bench 0.2% · 1Y 17.5%1 of 12 weeks ahead 100% evidence
Exact sum: 19.6 + 10.8 + 10.2 + 5.2 = 45.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Mukand LtdMUKANDLTD 42.6/100Mixed-negative evidence83% evidence TURNING 12.1/35 Revenue 0% · PAT 100% · OPM change -7.4 pp 83% evidence 5.4/25 ROCE 4.4% · OPM -1.4% 95% evidence 12.1/20 P/E 29.7× · PEG — 50% evidence 13.0/20 RS sector -2.7% · RS bench 4.6% · 1Y 1.5%5 of 12 weeks ahead 100% evidence
Exact sum: 12.1 + 5.4 + 12.1 + 13 = 42.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Safe Enterprises Retail Fixtures LtdSAFEENTP 55.4/100Thin evidence · provisional50% evidence FADING 15.2/35 Revenue — · PAT — · OPM change 1 pp 26% evidence 21.7/25 ROCE 47% · OPM 35% 95% evidence 10.8/20 P/E 17.9× · PEG — 15% evidence 7.7/20 RS sector -4.5% · RS bench 1.9% · 1Y 10.4%9 of 12 weeks ahead 70% evidence
Exact sum: 15.2 + 21.7 + 10.8 + 7.7 = 55.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9Rajputana Stainless LtdRSL 53.7/100Thin evidence · provisional38% evidence TURNING 16.2/35 Revenue — · PAT — · OPM change 2 pp 32% evidence 17.9/25 ROCE 25.2% · OPM 9% 95% evidence 9.6/20 P/E 23.7× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —0 of 3 weeks ahead 0% evidence
Exact sum: 16.2 + 17.9 + 9.6 + 10 = 53.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10India Homes LtdISIBARS 53.1/100Thin evidence · provisional41% evidence LEADER 18.2/35 Revenue -80% · PAT 48.3% · OPM change 190.8 pp 27% evidence 6.8/25 ROCE -19% · OPM — 46% evidence 10.0/20 P/E — · PEG — 0% evidence 18.1/20 RS sector 35.1% · RS bench 41.5% · 1Y 162.8%12 of 12 weeks ahead 100% evidence
Exact sum: 18.2 + 6.8 + 10 + 18.1 = 53.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
05 · what price has already done

Market action

India Homes Ltd has the strongest one-year price move in Steel at +162.8%. It also leads on Mansfield relative strength against NIFTY at +41.5%. 9 of 9 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

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.

06 · compare level, then change

Revenue Scale & Growth Durability

Tata Steel Ltd has the highest Revenue among the 10 Steel companies compared here, at ₹2,39,755 crore. JSW Steel Ltd is next at ₹1,89,687 crore. Manaksia Steels Ltd has the highest Revenue growth at 78.7%, so level and change sit with different companies. 8 of 10 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Tata Steel Ltd is the scale leader at ₹2,39,755 crore, 26.4% ahead of JSW Steel Ltd. Manaksia Steels Ltd's growth is 78.7% from a ₹1,131 crore base, with 13 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderTata Steel Ltd · ₹2,39,755 crore
Gap26.4% versus #2 · JSW Steel Ltd
Persistence4/8 recent comparable periods
Coverage8/10 companies · 128 observations

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

This conclusion weakens if: Tata Steel Ltd's growth falls below Manaksia Steels 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
1Tata Steel Ltd TATASTEEL₹2.4 L Cr
2JSW Steel Ltd JSWSTEEL₹1.9 L Cr
3Steel Authority of India Ltd SAIL₹1.1 L Cr
4NMDC Steel Ltd NSLNISP₹13.6K Cr
5Mukand Ltd MUKANDLTD⚠ unverified₹4.9K Cr
Revenue growthfastest growers
1Manaksia Steels Ltd MANAKSTEEL79%
2NMDC Steel Ltd NSLNISP60%
3Mangalam Worldwide Ltd MWL⚠ unverified13%
4JSW Steel Ltd JSWSTEEL12%
5Tata Steel Ltd TATASTEEL11%
Revenue · company comparison
8/10 level · 8/10 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.

CompanyRevenueRevenue growthReported
Tata Steel Ltd TATASTEEL₹60.8K Cr14%Jun 2026
JSW Steel Ltd JSWSTEEL₹47.4K Cr9.8%Jun 2026
Steel Authority of India Ltd SAIL₹26.2K Cr1.3%Jun 2026
NMDC Steel Ltd NSLNISP₹3.9K Cr37%Mar 2026
Mukand Ltd MUKANDLTD⚠ unverified₹1.3K Cr15%Mar 2026
Manaksia Steels Ltd MANAKSTEEL₹333 Cr63%Mar 2026
Mangalam Worldwide Ltd MWL⚠ unverified₹316 Cr14%Jun 2026
Rajputana Stainless Ltd RSL⚠ unverified₹255 Cr2.8%Mar 2026
Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified₹106 Cr31%Mar 2026
India Homes Ltd ISIBARS₹0 Cr-100%Sep 2023
Full 20-quarter history · every available company

Revenue · reported quarter history

India Homes Ltd · ISIBARS

₹5 Cr
₹9 Cr
₹7 Cr
₹1 Cr
₹2 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹0 Cr
—
—
—
—
—
—
—
—
—
—
—

JSW Steel Ltd · JSWSTEEL

—
—
—
—
—
₹39.1K Cr
₹47.0K Cr
₹42.2K Cr
₹44.6K Cr
₹41.9K Cr
₹46.3K Cr
₹42.9K Cr
₹39.7K Cr
₹41.4K Cr
₹44.8K Cr
₹43.1K Cr
₹45.2K Cr
₹46.0K Cr
₹51.2K Cr
₹47.4K Cr

Manaksia Steels Ltd · MANAKSTEEL

—
—
—
—
—
—
₹236 Cr
₹218 Cr
₹166 Cr
₹134 Cr
₹163 Cr
₹165 Cr
₹104 Cr
₹160 Cr
₹204 Cr
₹217 Cr
₹263 Cr
₹318 Cr
₹333 Cr
—

Mangalam Worldwide Ltd · MWL⚠ unverified

—
—
—
—
—
—
₹214 Cr
₹201 Cr
₹199 Cr
₹181 Cr
₹237 Cr
₹229 Cr
₹238 Cr
₹270 Cr
₹324 Cr
₹276 Cr
₹317 Cr
₹350 Cr
₹265 Cr
₹316 Cr

Mukand Ltd · MUKANDLTD⚠ unverified

—
—
—
—
—
₹1.3K Cr
₹1.3K Cr
₹1.4K Cr
₹1.4K Cr
₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.1K Cr
₹1.1K Cr
₹1.2K Cr
₹1.3K Cr
₹1.3K Cr
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
₹0 Cr
—
₹0 Cr
₹0 Cr
₹277 Cr
₹926 Cr
₹1.8K Cr
₹2.0K Cr
₹1.5K Cr
₹2.1K Cr
₹2.8K Cr
₹3.4K Cr
₹3.4K Cr
₹3.0K Cr
₹3.9K Cr
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
₹233 Cr
₹248 Cr
—
₹270 Cr
₹251 Cr
₹255 Cr
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
₹58 Cr
—
₹81 Cr
—
₹112 Cr
—
₹106 Cr
—

Steel Authority of India Ltd · SAIL

₹26.8K Cr
₹25.2K Cr
₹30.8K Cr
₹24.0K Cr
₹26.2K Cr
₹25.0K Cr
₹29.1K Cr
₹24.4K Cr
₹29.7K Cr
₹23.3K Cr
₹28.0K Cr
₹24.0K Cr
₹24.7K Cr
₹24.5K Cr
₹29.3K Cr
₹25.9K Cr
₹26.7K Cr
₹27.4K Cr
₹30.8K Cr
₹26.2K Cr

Tata Steel Ltd · TATASTEEL

₹60.3K Cr
₹60.8K Cr
₹69.3K Cr
₹63.4K Cr
₹59.9K Cr
₹57.1K Cr
₹63.0K Cr
₹59.5K Cr
₹55.7K Cr
₹55.3K Cr
₹58.7K Cr
₹54.8K Cr
₹53.9K Cr
₹53.6K Cr
₹56.2K Cr
₹53.2K Cr
₹58.7K Cr
₹57.0K Cr
₹63.3K Cr
₹60.8K Cr

Revenue growth · reported quarter history

India Homes Ltd · ISIBARS

-88%
-81%
-86%
-51%
-71%
-93%
-82%
-39%
-100%
—
—
—
—
—
—
—
—
—
—
—

JSW Steel Ltd · JSWSTEEL

—
—
—
—
—
—
—
—
—
7.2%
-1.5%
1.7%
-11%
-1.3%
-3.1%
0.5%
14%
11%
14%
9.8%

Manaksia Steels Ltd · MANAKSTEEL

—
—
—
—
—
—
—
—
—
—
-31%
-24%
-37%
19%
25%
32%
153%
99%
63%
—

Mangalam Worldwide Ltd · MWL⚠ unverified

—
—
—
—
—
—
—
—
—
—
11%
14%
20%
49%
37%
21%
33%
30%
-18%
14%

Mukand Ltd · MUKANDLTD⚠ unverified

—
—
—
—
—
—
—
—
—
-12%
-5.6%
-9.0%
-8.3%
7.2%
-11%
-10%
-8.1%
5.3%
15%
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
—
—
—
—
—
—
—
—
449%
129%
54%
66%
123%
42%
37%
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
7.7%
2.8%
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
93%
—
31%
—

Steel Authority of India Ltd · SAIL

—
—
—
16%
-2.2%
-0.8%
-5.3%
1.4%
13%
-6.8%
-4.0%
-1.5%
-17%
4.9%
4.9%
8.0%
8.2%
12%
5.1%
1.3%

Tata Steel Ltd · TATASTEEL

—
—
—
19%
-0.7%
-6.1%
-9.2%
-6.2%
-7.0%
-3.1%
-6.8%
-7.9%
-3.2%
-3.0%
-4.2%
-2.9%
8.9%
6.3%
13%
14%
07 · compare level, then change

Operating Economics & Margin Trend

Safe Enterprises Retail Fixtures Ltd has the highest OPM among the 10 Steel companies compared here, at 35%. NMDC Steel Ltd is next at 21%. India Homes Ltd has the highest Margin change at +190.8 percentage points, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Safe Enterprises Retail Fixtures Ltd leads opm at 35%; India Homes Ltd leads margin change at +190.8 percentage points.

LeaderSafe Enterprises Retail Fixtures Ltd · 35%
Gap66.7% versus #2 · NMDC Steel Ltd
Persistence1/2 recent comparable periods
Coverage9/10 companies · 144 observations

Investor read: Safe Enterprises Retail Fixtures 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
1Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified35%
2NMDC Steel Ltd NSLNISP21%
3JSW Steel Ltd JSWSTEEL20%
4Steel Authority of India Ltd SAIL16%
5Tata Steel Ltd TATASTEEL15%
Margin changefastest expanders
1India Homes Ltd ISIBARS · older report+190.8 pp
2NMDC Steel Ltd NSLNISP+31.0 pp
3Manaksia Steels Ltd MANAKSTEEL+6.6 pp
4Steel Authority of India Ltd SAIL+5.0 pp
5JSW Steel Ltd JSWSTEEL+3.0 pp
Operating margin · company comparison
9/10 level · 10/10 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified35%+1.0 ppMar 2026
NMDC Steel Ltd NSLNISP21%+31.0 ppMar 2026
JSW Steel Ltd JSWSTEEL20%+3.0 ppJun 2026
Steel Authority of India Ltd SAIL16%+5.0 ppJun 2026
Tata Steel Ltd TATASTEEL15%+1.0 ppJun 2026
Manaksia Steels Ltd MANAKSTEEL11%+6.6 ppMar 2026
Rajputana Stainless Ltd RSL⚠ unverified9.0%+2.0 ppMar 2026
Mangalam Worldwide Ltd MWL⚠ unverified9.0%+3.0 ppJun 2026
Mukand Ltd MUKANDLTD⚠ unverified-1.4%−7.4 ppMar 2026
India Homes Ltd ISIBARS-185%+190.8 ppSep 2023
Full 20-quarter history · every available company

OPM · reported quarter history

India Homes Ltd · ISIBARS

-62%
-31%
-782%
-376%
-353%
-593%
-485%
-185%
—
—
—
—
—
—
—
—
—
—
—
—

JSW Steel Ltd · JSWSTEEL

32%
24%
20%
11%
4.1%
11%
17%
17%
18%
17%
13%
13%
14%
13%
14%
17%
16%
14%
17%
20%

Manaksia Steels Ltd · MANAKSTEEL

7.2%
6.7%
9.4%
2.3%
2.9%
2.5%
4.8%
6.0%
6.0%
4.7%
4.9%
1.9%
-3.0%
3.6%
4.4%
4.9%
4.7%
4.8%
11%
—

Mangalam Worldwide Ltd · MWL⚠ unverified

2.0%
—
2.3%
—
1.7%
—
4.0%
3.2%
4.5%
6.0%
4.9%
5.0%
5.0%
6.0%
4.7%
6.0%
7.0%
7.0%
10%
9.0%

Mukand Ltd · MUKANDLTD⚠ unverified

4.6%
5.2%
6.6%
5.6%
2.6%
6.0%
-29%
6.0%
5.0%
5.0%
7.0%
6.0%
6.0%
6.0%
6.0%
4.2%
6.0%
5.0%
-1.4%
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
—
—
—
-53%
-26%
-44%
-52%
-20%
-29%
-31%
-10%
12%
6.0%
3.2%
21%
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
8.0%
7.0%
—
9.0%
9.0%
9.0%
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
38%
—
34%
—
37%
—
35%
—

Steel Authority of India Ltd · SAIL

26%
13%
14%
9.6%
2.8%
8.0%
10%
7.0%
13%
9.0%
12%
9.0%
12%
8.0%
12%
11%
9.0%
8.0%
14%
16%

Tata Steel Ltd · TATASTEEL

27%
26%
22%
24%
10%
7.0%
11%
8.0%
8.0%
11%
11%
12%
11%
11%
12%
14%
15%
14%
16%
15%

Margin change · reported quarter history

India Homes Ltd · ISIBARS

−64.5 pp
−26.2 pp
−721.6 pp
−258.7 pp
−290.2 pp
−562.8 pp
+297.0 pp
+190.8 pp
—
—
—
—
—
—
—
—
—
—
—
—

JSW Steel Ltd · JSWSTEEL

+9.1 pp
−3.2 pp
−11.8 pp
−24.3 pp
−28.0 pp
−13.0 pp
−2.5 pp
+5.7 pp
+13.9 pp
+6.0 pp
−4.0 pp
−4.0 pp
−4.0 pp
−4.0 pp
+1.0 pp
+4.0 pp
+2.0 pp
+1.0 pp
+3.0 pp
+3.0 pp

Manaksia Steels Ltd · MANAKSTEEL

−1.0 pp
−2.0 pp
−1.4 pp
−9.0 pp
−4.3 pp
−4.3 pp
−4.6 pp
+3.7 pp
+3.1 pp
+2.2 pp
+0.1 pp
−4.1 pp
−9.0 pp
−1.1 pp
−0.5 pp
+3.0 pp
+7.7 pp
+1.2 pp
+6.6 pp
—

Mangalam Worldwide Ltd · MWL⚠ unverified

—
—
—
—
−0.3 pp
—
+1.7 pp
—
+2.8 pp
—
+0.9 pp
+1.8 pp
+0.5 pp
0.0 pp
−0.2 pp
+1.0 pp
+2.0 pp
+1.0 pp
+5.3 pp
+3.0 pp

Mukand Ltd · MUKANDLTD⚠ unverified

+6.3 pp
−1.1 pp
+58.1 pp
+1.0 pp
−2.0 pp
+0.8 pp
−35.6 pp
+0.4 pp
+2.4 pp
−1.0 pp
+36.0 pp
0.0 pp
+1.0 pp
+1.0 pp
−1.0 pp
−1.8 pp
0.0 pp
−1.0 pp
−7.4 pp
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
—
—
—
—
—
—
—
+32.9 pp
−3.0 pp
+13.0 pp
+42.0 pp
+32.0 pp
+35.0 pp
+34.2 pp
+31.0 pp
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
+1.0 pp
+2.0 pp
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
−1.0 pp
—
+1.0 pp
—

Steel Authority of India Ltd · SAIL

+15.0 pp
−12.1 pp
−12.3 pp
−22.2 pp
−23.4 pp
−5.5 pp
−4.1 pp
−2.6 pp
+10.2 pp
+1.0 pp
+2.0 pp
+2.0 pp
−1.0 pp
−1.0 pp
0.0 pp
+2.0 pp
−3.0 pp
0.0 pp
+2.0 pp
+5.0 pp

Tata Steel Ltd · TATASTEEL

+11.3 pp
+3.3 pp
−6.7 pp
−6.5 pp
−17.1 pp
−19.2 pp
−10.7 pp
−15.6 pp
−2.1 pp
+4.0 pp
0.0 pp
+4.0 pp
+3.0 pp
0.0 pp
+1.0 pp
+2.0 pp
+4.0 pp
+3.0 pp
+4.0 pp
+1.0 pp
08 · compare level, then change

Profit Scale & Acceleration

JSW Steel Ltd has the highest Net profit among the 10 Steel companies compared here, at ₹27,995 crore. Tata Steel Ltd is next at ₹11,263 crore. The same company also holds the highest Profit growth, at the 100% top of the scoring scale. 8 of 10 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: JSW Steel Ltd leads with ₹27,995 crore of TTM profit, 148.6% above Tata Steel Ltd. JSW Steel Ltd shows ≥100% on the scoring scale (479.3% uncapped) growth from a ₹27,995 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderJSW Steel Ltd · ₹27,995 crore
Gap148.6% versus #2 · Tata Steel Ltd
Persistence6/8 recent comparable periods
Coverage8/10 companies · 128 observations

Investor read: JSW 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 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
1JSW Steel Ltd JSWSTEEL₹28.0K Cr
2Tata Steel Ltd TATASTEEL₹11.3K Cr
3Steel Authority of India Ltd SAIL₹4.3K Cr
4Mukand Ltd MUKANDLTD⚠ unverified₹604 Cr
5NMDC Steel Ltd NSLNISP₹59 Cr
Profit growthfastest growers
1JSW Steel Ltd JSWSTEEL100%
2Manaksia Steels Ltd MANAKSTEEL100%
3Mukand Ltd MUKANDLTD⚠ unverified100%
4Tata Steel Ltd TATASTEEL100%
5Mangalam Worldwide Ltd MWL⚠ unverified58%
Net profit · company comparison
8/10 level · 6/10 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
JSW Steel Ltd JSWSTEEL₹4.7K Cr113%Jun 2026
Tata Steel Ltd TATASTEEL₹2.4K Cr19%Jun 2026
Steel Authority of India Ltd SAIL₹1.6K Cr121%Jun 2026
Mukand Ltd MUKANDLTD⚠ unverified₹555 Cr4,945%Mar 2026
NMDC Steel Ltd NSLNISP₹392 Cr—Mar 2026
Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified₹31 Cr41%Mar 2026
Manaksia Steels Ltd MANAKSTEEL₹19 Cr280%Mar 2026
Rajputana Stainless Ltd RSL⚠ unverified₹13 Cr63%Mar 2026
Mangalam Worldwide Ltd MWL⚠ unverified₹12 Cr20%Jun 2026
India Homes Ltd ISIBARS₹-6 Cr—Sep 2023
Full 20-quarter history · every available company

Net profit · reported quarter history

India Homes Ltd · ISIBARS

₹-7 Cr
₹-4 Cr
₹-35 Cr
₹-8 Cr
₹-9 Cr
₹-8 Cr
₹-11 Cr
₹-5 Cr
₹-6 Cr
—
—
—
—
—
—
—
—
—
—
—

JSW Steel Ltd · JSWSTEEL

—
—
—
—
—
₹474 Cr
₹3.7K Cr
₹2.4K Cr
₹2.8K Cr
₹2.5K Cr
₹1.3K Cr
₹867 Cr
₹404 Cr
₹719 Cr
₹1.5K Cr
₹2.2K Cr
₹1.6K Cr
₹2.4K Cr
₹19.2K Cr
₹4.7K Cr

Manaksia Steels Ltd · MANAKSTEEL

—
—
—
—
—
—
₹6 Cr
₹10 Cr
₹9 Cr
₹5 Cr
₹5 Cr
₹2 Cr
₹1 Cr
₹2 Cr
₹5 Cr
₹6 Cr
₹4 Cr
₹10 Cr
₹19 Cr
—

Mangalam Worldwide Ltd · MWL⚠ unverified

—
—
—
—
—
—
₹7 Cr
₹2 Cr
₹2 Cr
₹6 Cr
₹12 Cr
₹6 Cr
₹7 Cr
₹8 Cr
₹8 Cr
₹10 Cr
₹11 Cr
₹14 Cr
₹15 Cr
₹12 Cr

Mukand Ltd · MUKANDLTD⚠ unverified

—
—
—
—
—
₹19 Cr
₹125 Cr
₹31 Cr
₹23 Cr
₹19 Cr
₹29 Cr
₹24 Cr
₹25 Cr
₹15 Cr
₹11 Cr
₹29 Cr
₹10 Cr
₹10 Cr
₹555 Cr
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
₹0 Cr
—
₹0 Cr
₹0 Cr
₹-131 Cr
₹-568 Cr
₹-861 Cr
₹-547 Cr
₹-595 Cr
₹-758 Cr
₹-473 Cr
₹26 Cr
₹-115 Cr
₹-244 Cr
₹392 Cr
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
₹10 Cr
₹8 Cr
—
₹13 Cr
₹12 Cr
₹13 Cr
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
₹17 Cr
—
₹22 Cr
—
₹33 Cr
—
₹31 Cr
—

Steel Authority of India Ltd · SAIL

₹4.3K Cr
₹1.5K Cr
₹2.5K Cr
₹805 Cr
₹-329 Cr
₹542 Cr
₹1.2K Cr
₹212 Cr
₹1.3K Cr
₹423 Cr
₹1.1K Cr
₹82 Cr
₹897 Cr
₹142 Cr
₹1.3K Cr
₹745 Cr
₹419 Cr
₹374 Cr
₹1.8K Cr
₹1.6K Cr

Tata Steel Ltd · TATASTEEL

₹12.5K Cr
₹9.6K Cr
₹9.8K Cr
₹7.7K Cr
₹1.3K Cr
₹-2.5K Cr
₹1.6K Cr
₹525 Cr
₹-6.5K Cr
₹522 Cr
₹555 Cr
₹919 Cr
₹759 Cr
₹295 Cr
₹1.2K Cr
₹2.0K Cr
₹3.2K Cr
₹2.7K Cr
₹3.0K Cr
₹2.4K Cr

Profit growth · reported quarter history

JSW Steel Ltd · JSWSTEEL

—
—
—
—
—
—
—
—
—
417%
-65%
-64%
-85%
-71%
14%
155%
307%
235%
1,182%
113%

Manaksia Steels Ltd · MANAKSTEEL

—
—
—
—
—
—
—
—
—
—
-17%
-80%
-89%
-60%
0.0%
200%
300%
400%
280%
—

Mangalam Worldwide Ltd · MWL⚠ unverified

—
—
—
—
—
—
—
—
—
—
71%
200%
250%
33%
-33%
67%
57%
75%
88%
20%

Mukand Ltd · MUKANDLTD⚠ unverified

—
—
—
—
—
—
—
—
—
0.0%
-77%
-23%
8.7%
-21%
-62%
21%
-60%
-33%
4,945%
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
20%
63%
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
94%
—
41%
—

Steel Authority of India Ltd · SAIL

—
—
—
-79%
-108%
-65%
-53%
-74%
—
-22%
-2.9%
-61%
-31%
-66%
11%
809%
-53%
163%
47%
121%

Tata Steel Ltd · TATASTEEL

—
—
—
-21%
-90%
-126%
-84%
-93%
-602%
—
-65%
75%
—
-43%
116%
118%
319%
825%
147%
19%
09 · compare level, then change

Return On Capital Employed

Safe Enterprises Retail Fixtures Ltd has the highest ROCE among the 10 Steel companies compared here, at 47%. Rajputana Stainless Ltd is next at 25.2%. NMDC Steel Ltd has the highest ROCE change at +17.6 percentage points, so level and change sit with different companies. 10 of 10 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Safe Enterprises Retail Fixtures Ltd leads ROCE at 47%, 21.8 percentage points above Rajputana Stainless Ltd. NMDC Steel Ltd has the strongest latest improvement at +17.6 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.

LeaderSafe Enterprises Retail Fixtures Ltd · 47%
Gap86.5% versus #2 · Rajputana Stainless Ltd
Persistence0/2 recent comparable periods
Coverage10/10 companies · 83 observations

Investor read: Safe Enterprises Retail Fixtures 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
1Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified47%
2Rajputana Stainless Ltd RSL⚠ unverified25%
3Mangalam Worldwide Ltd MWL⚠ unverified18%
4Manaksia Steels Ltd MANAKSTEEL14%
5Tata Steel Ltd TATASTEEL13%
ROCE changefastest improvers
1NMDC Steel Ltd NSLNISP+17.6 pp
2India Homes Ltd ISIBARS · older report+10.0 pp
3Manaksia Steels Ltd MANAKSTEEL+10.0 pp
4Mangalam Worldwide Ltd MWL⚠ unverified+3.7 pp
5JSW Steel Ltd JSWSTEEL+3.0 pp
Return on capital · company comparison
10/10 level · 10/10 change

Withheld from this chart: JSW Steel Ltd (JSWSTEEL) — its two data sources disagree by up to 15% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROCEROCE changeReported
Mangalam Worldwide Ltd MWL⚠ unverified28%+3.7 ppJun 2026
Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified26%−35.5 ppMar 2026
Rajputana Stainless Ltd RSL⚠ unverified22%−5.1 ppMar 2026
Tata Steel Ltd TATASTEEL12%+3.0 ppJun 2026
Steel Authority of India Ltd SAIL6.5%+0.7 ppJun 2026
Mukand Ltd MUKANDLTD⚠ unverified5.8%−14.8 ppMar 2026
NMDC Steel Ltd NSLNISP3.0%+17.6 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Mangalam Worldwide Ltd · MWL⚠ unverified

—
14%
20%
7.3%
6.9%
7.0%
8.2%
—
—
—
13%
21%
16%
21%
16%
24%
19%
27%
20%
28%

Mukand Ltd · MUKANDLTD⚠ unverified

-30%
—
12%
—
13%
—
-9.8%
—
-9.0%
17%
10%
11%
24%
16%
21%
15%
14%
21%
5.8%
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
—
—
—
—
-0.9%
-3.2%
-9.2%
-11%
-16%
-15%
-15%
-9.2%
-7.3%
-2.7%
3.0%
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
12%
—
20%
27%
35%
37%
—
22%
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
44%
—
62%
—
27%
—
26%
—

Steel Authority of India Ltd · SAIL

27%
—
21%
—
8.2%
—
5.0%
—
7.5%
8.0%
6.9%
7.6%
6.4%
6.8%
5.8%
7.7%
6.0%
6.8%
6.5%
—

Tata Steel Ltd · TATASTEEL

25%
—
29%
—
23%
—
11%
—
5.6%
4.4%
7.1%
3.7%
8.2%
8.6%
7.5%
9.0%
8.9%
11%
11%
12%

ROCE change · reported quarter history

Mangalam Worldwide Ltd · MWL⚠ unverified

—
—
—
—
—
−6.5 pp
−11.7 pp
—
—
—
+4.6 pp
—
—
—
+3.3 pp
+2.8 pp
+3.0 pp
+6.6 pp
+4.1 pp
+3.7 pp

Mukand Ltd · MUKANDLTD⚠ unverified

—
—
—
—
+42.4 pp
—
−21.7 pp
—
−21.5 pp
—
+19.9 pp
—
+32.6 pp
−1.1 pp
+10.5 pp
+3.9 pp
−9.5 pp
+5.0 pp
−14.8 pp
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
—
—
—
—
—
—
—
—
−14.8 pp
−11.8 pp
−5.4 pp
+2.0 pp
+8.4 pp
+12.3 pp
+17.6 pp
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
+23.5 pp
—
—
−5.1 pp
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
−17.4 pp
—
−35.5 pp
—

Steel Authority of India Ltd · SAIL

—
—
—
—
−18.8 pp
—
−16.4 pp
—
−0.7 pp
—
+1.9 pp
—
−1.1 pp
−1.2 pp
−1.1 pp
+0.1 pp
−0.4 pp
0.0 pp
+0.7 pp
—

Tata Steel Ltd · TATASTEEL

—
—
—
—
−1.8 pp
—
−17.4 pp
—
−17.8 pp
—
−4.1 pp
—
+2.6 pp
+4.2 pp
+0.4 pp
+5.3 pp
+0.7 pp
+2.1 pp
+3.3 pp
+3.0 pp
10 · compare level, then change

Valuation Against Growth & Quality

Steel Authority of India Ltd has the lowest PEG among the 10 Steel companies compared here, at 0.71×. Tata Steel Ltd is next at 1.74×. Manaksia Steels Ltd has the lowest P/E at 11.2×, so level and change sit with different companies. 2 of 10 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Steel Authority of India Ltd has the lowest comparable PEG at 0.71×, 59.2% below Tata Steel Ltd. Only 2 of 10 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.

LeaderSteel Authority of India Ltd · 0.71×
Gap59.2% versus #2 · Tata Steel Ltd
Persistence0/8 recent comparable periods
Coverage2/10 companies · 2 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
1Steel Authority of India Ltd SAIL0.7
2Tata Steel Ltd TATASTEEL1.7
P/Elowest P/E
1Manaksia Steels Ltd MANAKSTEEL11.2
2Steel Authority of India Ltd SAIL14.5
3Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified17.9
4Tata Steel Ltd TATASTEEL20.0
5Mangalam Worldwide Ltd MWL⚠ unverified20.6
Valuation · company comparison
2/10 level · 9/10 change
All-company data · latest reported quarter
CompanyPEGP/EReported
Tata Steel Ltd TATASTEEL1.720.8Jun 2026
JSW Steel Ltd JSWSTEEL—31.4Jun 2026
Steel Authority of India Ltd SAIL—18.4Jun 2026
NMDC Steel Ltd NSLNISP—165.7Mar 2026
Mukand Ltd MUKANDLTD⚠ unverified—27.9Mar 2026
Rajputana Stainless Ltd RSL⚠ unverified—17.8Mar 2026
Safe Enterprises Retail Fixtures Ltd SAFEENTP⚠ unverified—14.8Mar 2026
Mangalam Worldwide Ltd MWL⚠ unverified—22.0Jun 2026
Manaksia Steels Ltd MANAKSTEEL—12.5Mar 2026
Full 20-quarter history · every available company

PEG · reported quarter history

Tata Steel Ltd · TATASTEEL

—
—
0.1
—
—
—
—
—
—
—
—
—
—
—
1.7
—
—
—
—
—

P/E · reported quarter history

JSW Steel Ltd · JSWSTEEL

11.0
7.9
8.0
6.5
9.5
24.6
45.2
52.2
36.7
24.0
18.6
26.8
35.2
43.2
73.6
66.9
54.2
43.8
35.4
31.4

Manaksia Steels Ltd · MANAKSTEEL

5.8
6.6
8.7
6.6
9.3
10.5
14.3
23.6
13.7
10.9
12.6
12.5
22.0
32.5
26.1
41.4
26.2
26.8
12.5
—

Mangalam Worldwide Ltd · MWL⚠ unverified

—
—
—
—
0.1
34.8
34.5
24.1
22.2
19.1
20.7
15.8
15.2
14.4
14.0
16.5
20.6
23.5
18.7
22.0

Mukand Ltd · MUKANDLTD⚠ unverified

19.9
18.5
27.8
8.2
10.9
16.7
20.1
10.5
13.8
14.4
10.8
22.7
24.6
19.3
13.8
26.9
23.3
29.6
27.9
—

NMDC Steel Ltd · NSLNISP

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-6.7
—
—
165.7
—

Rajputana Stainless Ltd · RSL⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
17.8
—

Safe Enterprises Retail Fixtures Ltd · SAFEENTP⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
16.1
—
14.8
—

Steel Authority of India Ltd · SAIL

4.8
3.3
3.1
2.2
3.4
7.2
10.5
17.8
27.9
15.3
16.4
16.6
15.0
15.1
16.3
20.3
17.8
19.6
20.0
18.4

Tata Steel Ltd · TATASTEEL

6.9
4.2
4.3
2.6
3.1
4.8
7.1
15.9
62.6
58.2
87.6
34.0
121.6
53.6
63.5
56.5
43.7
28.7
24.6
20.8
11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Steel comparison names 8 specific ways its own evidence can mislead, all listed below. 1 of the 10 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 4 draw at least one figure from a second feed with too little overlap to cross-check.

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.
  • 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
  • 4 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.
  • 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • 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 10 Steel 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 2026-07-31. 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 2026-07-31 · 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 standing3 cross-checked · 6 unverified · 1 withheld, of 10 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 company comparison FAQs

These 24 answers restate the Steel comparison above in question form. Every one is computed from the same 10 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Steel sector outperforming NIFTY 500?

Steel has outperformed NIFTY 500 by 30.3% over 52 weeks and 7.9% over 13 weeks. 9 of 9 covered companies beat NIFTY on Mansfield relative strength, while 2 of 8 beat the sector itself.

Which Steel company is largest by revenue?

Tata Steel Ltd leads with revenue of ₹2,39,755 crore, based on 8 of 10 comparable companies through Jun 2026.

Which Steel company is growing fastest?

Manaksia Steels Ltd has the fastest current revenue growth at 78.7%, across 8 of 10 comparable companies.

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

Manaksia Steels Ltd ranks first at 66/100 with 63.1% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Steel company has the lowest comparable PEG?

Steel Authority of India Ltd has the lowest comparable PEG at 0.71, among 2 of 10 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Steel 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.

What is the Nifty Steel index?

The Nifty Steel index tracks India's listed Steel companies as a single basket. This page follows the same 10 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Steel sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Steel stocks in India?

Ranked by this page's four-factor score, Manaksia Steels Ltd places first among 10 listed Steel companies, followed by JSW Steel 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 stocks are listed in India?

This comparison covers 10 listed Steel 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 company is the biggest?

Tata Steel Ltd is the largest, with trailing-twelve-month revenue of ₹2,39,755 crore, ahead of JSW Steel Ltd at ₹1,89,687 crore. That covers 8 of 10 companies with comparable reporting through Jun 2026.

Which Steel company has the best profit margins?

Safe Enterprises Retail Fixtures Ltd has the highest operating margin at 35%, from 9 of 10 comparable companies. India Homes Ltd shows the biggest recent improvement, at +190.8 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Steel company makes the most profit?

JSW Steel Ltd earns the most, at ₹27,995 crore of trailing-twelve-month net profit, from 8 of 10 comparable companies. JSW Steel Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Steel company earns the highest return on capital?

Safe Enterprises Retail Fixtures Ltd leads on return on capital employed at 47%, across 10 of 10 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 Steel stock is the cheapest?

On PEG — where a LOWER number is cheaper — Steel Authority of India Ltd screens cheapest at 0.71×. Only 2 of 10 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Steel sector beating the market?

Steel has outperformed NIFTY 500 by 30.3% over the last 52 weeks and 7.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 9 of 9 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Steel stock has the strongest price momentum?

India Homes 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 company scores highest for research priority?

Manaksia Steels Ltd scores 66 out of 100 with 63.1% evidence confidence, from 28.5 points on growth and earnings, 14.3 on capital efficiency, 11.9 on valuation and 11.3 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 companies does this comparison cover, and over what period?

It compares 10 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 sector?

The 10 Steel companies on this page carry ₹6,36,581 crore of combined market value. JSW Steel Ltd is the largest at ₹3,10,573 crore, about 49% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

What is the Steel sector's P/E ratio?

The median price-to-earnings ratio across the 10 Steel companies on this page is 20.6×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-05.

How is the Steel sector performing?

9 of the 9 covered Steel companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 30.3% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

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.

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