# Steel - Pig Iron — company-by-company sector analysis > Steel - Pig Iron: Kirloskar Ferrous Industries 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 Steel - Pig Iron has underperformed NIFTY 500 by 21.8% over 52 weeks and 7.1% over 13 weeks. 0 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. Kirloskar Ferrous Industries Ltd leads with revenue of ₹6,962 crore, based on 1 of 1 comparable companies through Jun 2026. ## Sector relative strength Steel - Pig Iron has underperformed NIFTY 500 by 21.8% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 7.1%. 0 of 1 covered company currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Kirloskar Ferrous Industries Ltd is the strongest against the sector itself at 0%. 13-week sector return versus NIFTY 500: -7.1% 52-week sector return versus NIFTY 500: -22% 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: ₹7.1K 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. Kirloskar Ferrous Industries Ltd (KIRLFER): 43/100 — Mixed-negative evidence; evidence 79% - Growth & earnings 11.2/35 | Capital efficiency 13.0/25 | Valuation 11.7/20 | 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 8 of the last 12 weeks - Exact sum: 11.2 + 13 + 11.7 + 7.5 = 43.4 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. ## Market action Kirloskar Ferrous Industries Ltd has the strongest one-year price move in Steel - Pig Iron at -21.7%. It also leads on Mansfield relative strength against NIFTY at -8.5%. 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. Kirloskar Ferrous Industries Ltd (KIRLFER): -22% ### Strongest relative strength versus NIFTY 500 1. Kirloskar Ferrous Industries Ltd (KIRLFER): -8.5% ## Revenue Scale & Growth Durability What the numbers say: Kirloskar Ferrous Industries Ltd is the scale leader at ₹6,962 crore, Kirloskar Ferrous Industries Ltd's growth is 3.8% from a ₹6,962 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: Kirloskar Ferrous Industries Ltd is the scale benchmark; Kirloskar Ferrous Industries Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: Kirloskar Ferrous Industries Ltd's growth falls below Kirloskar Ferrous Industries Ltd's for two consecutive comparable reports while operating margin also compresses. Evidence: Kirloskar Ferrous Industries Ltd · ₹6,962 crore | Not enough peers | 8/8 recent comparable periods | 1/1 companies · 15 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. Kirloskar Ferrous Industries Ltd (KIRLFER): ₹7.0K Cr ### Revenue growth — fastest growers 1. Kirloskar Ferrous Industries Ltd (KIRLFER): 3.8% ### 20-quarter Revenue history - KIRLFER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹1.6K Cr | Mar 2023 ₹1.6K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.7K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹1.7K Cr | Jun 2025 ₹1.7K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 ₹1.8K Cr ### 20-quarter Revenue growth history - KIRLFER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -3.3% | Mar 2024 -1.9% | Jun 2024 3.5% | Sep 2024 6.8% | Dec 2024 3.9% | Mar 2025 13% | Jun 2025 9.3% | Sep 2025 5.3% | Dec 2025 0.6% | Mar 2026 4.6% | Jun 2026 4.4% ## Operating Economics & Margin Trend What the numbers say: Kirloskar Ferrous Industries Ltd leads both opm at 12% and margin change at -1 percentage points. Investor read: Kirloskar Ferrous Industries 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: Kirloskar Ferrous Industries Ltd · 12% | Not enough peers | 2/8 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. Kirloskar Ferrous Industries Ltd (KIRLFER): 12% ### Margin change — fastest expanders 1. Kirloskar Ferrous Industries Ltd (KIRLFER): −1.0 pp ### 20-quarter OPM history - KIRLFER: Sep 2021 19% | Dec 2021 15% | Mar 2022 10% | Jun 2022 12% | Sep 2022 11% | Dec 2022 15% | Mar 2023 14% | Jun 2023 14% | Sep 2023 16% | Dec 2023 15% | Mar 2024 11% | Jun 2024 12% | Sep 2024 12% | Dec 2024 11% | Mar 2025 12% | Jun 2025 13% | Sep 2025 12% | Dec 2025 11% | Mar 2026 12% | Jun 2026 12% ### 20-quarter Margin change history - KIRLFER: Sep 2021 −3.1 pp | Dec 2021 −9.8 pp | Mar 2022 −15.7 pp | Jun 2022 −14.1 pp | Sep 2022 −8.1 pp | Dec 2022 +0.3 pp | Mar 2023 +3.6 pp | Jun 2023 +2.4 pp | Sep 2023 +4.6 pp | Dec 2023 0.0 pp | Mar 2024 −3.0 pp | Jun 2024 −2.0 pp | Sep 2024 −4.0 pp | Dec 2024 −4.0 pp | Mar 2025 +1.0 pp | Jun 2025 +1.0 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp | Jun 2026 −1.0 pp ## Profit Scale & Acceleration What the numbers say: Kirloskar Ferrous Industries Ltd leads with ₹349 crore of TTM profit, Kirloskar Ferrous Industries Ltd shows -24.5% growth from a ₹349 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: Kirloskar Ferrous Industries 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: Kirloskar Ferrous Industries Ltd · ₹349 crore | Not enough peers | 5/8 recent comparable periods | 1/1 companies · 15 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. Kirloskar Ferrous Industries Ltd (KIRLFER): ₹349 Cr ### Profit growth — fastest growers 1. Kirloskar Ferrous Industries Ltd (KIRLFER): -25% ### 20-quarter Net profit history - KIRLFER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹130 Cr | Mar 2023 ₹95 Cr | Jun 2023 ₹93 Cr | Sep 2023 ₹82 Cr | Dec 2023 ₹105 Cr | Mar 2024 ₹18 Cr | Jun 2024 ₹70 Cr | Sep 2024 ₹78 Cr | Dec 2024 ₹54 Cr | Mar 2025 ₹92 Cr | Jun 2025 ₹238 Cr | Sep 2025 ₹86 Cr | Dec 2025 ₹55 Cr | Mar 2026 ₹126 Cr | Jun 2026 ₹82 Cr ### 20-quarter Profit growth history - KIRLFER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -19% | Mar 2024 -81% | Jun 2024 -25% | Sep 2024 -4.9% | Dec 2024 -49% | Mar 2025 411% | Jun 2025 240% | Sep 2025 10% | Dec 2025 1.9% | Mar 2026 37% | Jun 2026 -66% ## Return On Capital Employed What the numbers say: Kirloskar Ferrous Industries Ltd leads ROCE at 13.4%. Kirloskar Ferrous Industries Ltd has the strongest latest improvement at +1 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: Kirloskar Ferrous Industries 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: Kirloskar Ferrous Industries Ltd · 13.4% | Not enough peers | Not enough history | 1/1 companies · 0 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. Kirloskar Ferrous Industries Ltd (KIRLFER): 13% ### ROCE change — fastest improvers 1. Kirloskar Ferrous Industries Ltd (KIRLFER): +1.0 pp ### 20-quarter ROCE history ### 20-quarter ROCE change history ## Valuation Against Growth & Quality What the numbers say: There is not enough comparable evidence to name a reliable peg leader. 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: No comparable leader | Not enough peers | Not enough history | 0/1 companies · 0 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 ### P/E — lowest P/E 1. Kirloskar Ferrous Industries Ltd (KIRLFER): 18.5 ### 20-quarter PEG history ### 20-quarter P/E history - KIRLFER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 8.1 | Sep 2022 10.7 | Dec 2022 14.3 | Mar 2023 19.7 | Jun 2023 15.9 | Sep 2023 17.1 | Dec 2023 20.1 | Mar 2024 20.4 | Jun 2024 30.6 | Sep 2024 30.7 | Dec 2024 32.2 | Mar 2025 31.1 | Jun 2025 30.9 | Sep 2025 18.8 | Dec 2025 16.3 | Mar 2026 12.5 | Jun 2026 15.7 ## 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. - 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. ## Every company - Kirloskar Ferrous Industries Ltd (KIRLFER) — market value ₹7.1K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD ## Source standing of each company Cross-checked: 0. Unverified: 0. Withheld: 1. Graded companies: 1. 1 of 1 company has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Kirloskar Ferrous Industries Ltd (KIRLFER) — its two data sources disagree by up to 337% on reported income across 14 comparable periods, so its derived ratios are withheld. - WITHHELD | KIRLFER | Kirloskar Ferrous Industries Ltd | diff_gt_2pct | disagreement up to 337.22% over 14 comparable periods ## 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 Steel - Pig Iron sector outperforming NIFTY 500? Steel - Pig Iron has underperformed NIFTY 500 by 21.8% over 52 weeks and 7.1% over 13 weeks. 0 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. ### Which Steel - Pig Iron company is largest by revenue? Kirloskar Ferrous Industries Ltd leads with revenue of ₹6,962 crore, based on 1 of 1 comparable companies through Jun 2026. ### Which Steel - Pig Iron company is growing fastest? Kirloskar Ferrous Industries Ltd has the fastest current revenue growth at 3.8%, across 1 of 1 comparable companies. ### Which Steel - Pig Iron company has the strongest 4-Factor Sector Score? Kirloskar Ferrous Industries Ltd ranks first at 43.4/100 with 79.3% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### How much history does this Steel - Pig 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 - Pig 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 - Pig Iron, this page builds its own equal-weight basket of 1 listed Steel - Pig 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 - Pig Iron stocks in India? Ranked by this page's four-factor score, Kirloskar Ferrous Industries Ltd places first among 1 listed Steel - Pig Iron 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 Steel - Pig Iron stocks are listed in India? This comparison covers 1 listed Steel - Pig 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 - Pig Iron company is the biggest? Kirloskar Ferrous Industries Ltd is the largest, with trailing-twelve-month revenue of ₹6,962 crore. That covers 1 of 1 companies with comparable reporting through Jun 2026. ### Which Steel - Pig Iron company has the best profit margins? Kirloskar Ferrous Industries Ltd has the highest operating margin at 12%, from 1 of 1 comparable companies. Kirloskar Ferrous Industries Ltd shows the biggest recent improvement, at -1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Steel - Pig Iron company makes the most profit? Kirloskar Ferrous Industries Ltd earns the most, at ₹349 crore of trailing-twelve-month net profit, from 1 of 1 comparable companies. Kirloskar Ferrous Industries Ltd has the fastest profit growth at -24.5%, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Steel - Pig Iron company earns the highest return on capital? Kirloskar Ferrous Industries Ltd leads on return on capital employed at 13.4%, 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. ### Is the Steel - Pig Iron sector beating the market? Steel - Pig Iron has underperformed NIFTY 500 by 21.8% over the last 52 weeks and 7.1% 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 Steel - Pig Iron stock has the strongest price momentum? Kirloskar Ferrous Industries 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 - Pig Iron company scores highest for research priority? Kirloskar Ferrous Industries Ltd scores 43.4 out of 100 with 79.3% evidence confidence, from 11.2 points on growth and earnings, 13 on capital efficiency, 11.7 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 Steel - Pig Iron 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 Steel - Pig Iron sector? The 1 Steel - Pig Iron companies on this page carry ₹7,134 crore of combined market value. Kirloskar Ferrous Industries Ltd is the largest at ₹7,134 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 Steel - Pig Iron sector performing? 0 of the 1 covered Steel - Pig Iron companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 21.8% 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.