BMW Industries Ltd · 542669
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₹135 Cr
₹158 Cr
₹159 Cr
₹144 Cr
₹137 Cr
₹174 Cr
₹150 Cr
₹148 Cr
₹157 Cr
₹149 Cr
₹145 Cr
₹162 Cr
₹210 Cr
₹166 Cr
20-quarter listed-company comparison
Steel Products Stocks in India
Steel Products: Jindal Steel Ltd owns the largest revenue base; Banganga Paper Industries Ltd has the fastest current growth.
The 18 Steel Products companies listed in India are Jindal Steel Ltd (₹1.1 L Cr, the largest), Shyam Metalics & Energy Ltd, Gallantt Ispat Ltd. and 15 more. 11 of 18 covered companies beat NIFTY 500 on relative strength. Readings are as of 17 Sep 2026.
Top 10 Steel Products Stocks in India (Sep 2026) — ranked by 4-Factor score
- 1Raghav Productivity Enhancers Ltd₹8.5K Cr75.5/100Favorable setup · strongest on ROCE and ROCE improvement
- 2Vardhman Special Steels Ltd₹3.8K Cr75.3/100Favorable setup · strongest on PEG and profit growth
- 3Kamdhenu Ltd₹1.1K Cr71.6/100Favorable setup · strongest on ROCE and relative strength versus sector
- 4Shyam Metalics & Energy Ltd₹30.0K Cr67.0/100Favorable setup · strongest on ROCE improvement and revenue growth
- 5BMW Industries Ltd₹1.2K Cr58.1/100Mixed-positive evidence · strongest on relative strength versus sector and own-history P/E
- 6Kalyani Steels Ltd₹4.2K Cr55.8/100Mixed-positive evidence · strongest on PEG and 13-week relative-strength change
- 7Steel Exchange India Ltd₹1.5K Cr47.3/100Mixed-negative evidence · strongest on relative strength versus sector and margin improvement
- 8Sunflag Iron & Steel Company Ltd₹6.1K Cr46.7/100Mixed-negative evidence · strongest on PEG and profitable quarters
- 9Panchmahal Steel Ltd₹534 Cr45.2/100Mixed-negative evidence · strongest on relative strength versus sector and margin improvement
- 10Asgard Alcobev Ltd₹1.1K Cr43.2/100Mixed-negative evidence · strongest on revenue growth and profit growth
Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 11 Sep 2026. Not investment advice.
01 · the index people search for
Nifty Steel Products Index — Constituents & Performance
The largest 15 of 18 listed Indian Steel Products companies are named here; all 18 are ranked in the scorecard — the constituent set people search for as the Nifty Steel Products index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.
- Jindal Steel Ltd₹1.1 L Cr
- Shyam Metalics & Energy Ltd₹30.0K Cr
- Gallantt Ispat Ltd.₹13.2K Cr
- Raghav Productivity Enhancers Ltd₹8.5K Cr
- Sunflag Iron & Steel Company Ltd₹6.1K Cr
- Kalyani Steels Ltd₹4.2K Cr
- Vardhman Special Steels Ltd₹3.8K Cr
- Prakash Industries Ltd₹2.2K Cr
- Rhetan TMT Ltd₹1.9K Cr
- Steel Exchange India Ltd₹1.5K Cr
- BMW Industries Ltd₹1.2K Cr
- Electrotherm (India) Ltd₹1.2K Cr
- Kamdhenu Ltd₹1.1K Cr
- Asgard Alcobev Ltd₹1.1K Cr
- Salasar Techno Engineering Ltd₹883 Cr
The remaining 3 Steel Products companies are named and ranked in the scorecard.
02 · the sector itself · before any single company
How has Steel Products 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 31% ahead of NIFTY 500. Earnings across its companies fell 4% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 5 weeks running.
BREAKING OUT · ahead 5w~Price up, without the fundamentals confirming9 of 20 companies ahead of NIFTY 500 by 5% or more over three months
RS ↑5w · 11/20 >200d (−1) · 9/20 lead (+4) · EPS 9/19↑
Steel Products, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Steel Products, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Steel Products, 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 20 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 Products outperforming NIFTY 500?
Steel Products has outperformed NIFTY 500 by 24% over the last 52 weeks. Over 13 weeks the gap is a lead of 5.4%. 11 of 18 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Raghav Productivity Enhancers Ltd is the strongest against the sector itself at +65.4%. Readings are as of 2026-08-22.
+5.4%Sector vs NIFTY 500 · 13 weeks
+24.0%Sector vs NIFTY 500 · 52 weeks
11/18Stocks leading NIFTY 500
8/18Stocks leading sector
Sector metric: 33.8 as of 2026-08-22 · NARROWING · rising.
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 Products has outperformed NIFTY 500 by 24% over 52 weeks and 5.4% over 13 weeks. 11 of 18 covered companies beat NIFTY on Mansfield relative strength, while 8 of 18 beat the sector itself. Jindal Steel Ltd leads with revenue of ₹56,413 crore, based on 18 of 18 comparable companies through Jun 2026.
Companies
18
complete canonical membership
Combined market value
₹1.9 L Cr
Jindal Steel Ltd
Revenue growing
14/18
positive TTM year-on-year growth
Beating NIFTY 500
11/18
positive Mansfield relative strength
Comparing 5 of 18
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%
Raghav Productivity Enhancers Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 100% evidence confidence.
Prakash Industries Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Kalyani Steels 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.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Raghav Productivity Enhancers LtdRPEL | 75.5/100Favorable setup100% evidence | LEADER | 32.0/35 Revenue 34.3% · PAT 53.7% · OPM change 3 pp 100% evidence | 19.5/25 ROCE 30.3% · OPM 30% 100% evidence | 4.0/20 P/E 135× · PEG 2.31 100% evidence | 20.0/20 RS sector 65.4% · RS bench 94.3% · 1Y 179.2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 32 + 19.5 + 4 + 20 = 75.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Vardhman Special Steels LtdVSSL | 75.3/100Favorable setup100% evidence | LEADER | 26.5/35 Revenue 1.3% · PAT 65.5% · OPM change 5 pp 100% evidence | 14.7/25 ROCE 15.3% · OPM 12% 100% evidence | 15.8/20 P/E 26.8× · PEG 0.52 100% evidence | 18.3/20 RS sector 19.6% · RS bench 42.9% · 1Y 52.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.5 + 14.7 + 15.8 + 18.3 = 75.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Kamdhenu LtdKAMDHENU | 71.6/100Favorable setup87% evidence | LEADER | 20.7/35 Revenue 2.9% · PAT 30.3% · OPM change -1 pp 95% evidence | 19.5/25 ROCE 29.5% · OPM 10% 95% evidence | 12.9/20 P/E 12.9× · PEG — 50% evidence | 18.5/20 RS sector 24.6% · RS bench 47.9% · 1Y 38.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 20.7 + 19.5 + 12.9 + 18.5 = 71.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Shyam Metalics & Energy LtdSHYAMMETL | 67.0/100Favorable setup100% evidence | LEADER | 26.1/35 Revenue 22.8% · PAT 21.3% · OPM change 1 pp 100% evidence | 15.1/25 ROCE 13% · OPM 14% 100% evidence | 11.8/20 P/E 26.7× · PEG 1.19 100% evidence | 14.0/20 RS sector 1.3% · RS bench 21% · 1Y 15.7%11 of 12 weeks ahead 100% evidence |
| Exact sum: 26.1 + 15.1 + 11.8 + 14 = 67 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5BMW Industries Ltd542669 | 58.1/100Mixed-positive evidence82% evidence | ASLEEP | 17.0/35 Revenue 5.9% · PAT 8% · OPM change -1 pp 95% evidence | 15.4/25 ROCE 12.4% · OPM 20% 76% evidence | 13.6/20 P/E 14.4× · PEG — 50% evidence | 12.1/20 RS sector 4.3% · RS bench 23.4% · 1Y 11.6%6 of 12 weeks ahead 100% evidence |
| Exact sum: 17 + 15.4 + 13.6 + 12.1 = 58.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Kalyani Steels LtdKSL | 55.8/100Mixed-positive evidence100% evidence | TURNING | 11.9/35 Revenue -4.9% · PAT 0% · OPM change 1 pp 100% evidence | 15.8/25 ROCE 14.8% · OPM 20% 100% evidence | 12.3/20 P/E 15.6× · PEG 1.01 100% evidence | 15.8/20 RS sector 3.7% · RS bench 23.8% · 1Y 19.3%7 of 12 weeks ahead 100% evidence |
| Exact sum: 11.9 + 15.8 + 12.3 + 15.8 = 55.8 · Decision use: Price leads the evidence: RS versus the benchmark is 23.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 7Steel Exchange India LtdSTEELXIND | 47.3/100Mixed-negative evidence80% evidence | TURNING | 11.8/35 Revenue -12.8% · PAT -8.8% · OPM change 3 pp 95% evidence | 10.3/25 ROCE 10.9% · OPM 13% 95% evidence | 9.6/20 P/E 48.7× · PEG — 15% evidence | 15.6/20 RS sector 4.9% · RS bench 24.5% · 1Y 31.1%7 of 12 weeks ahead 100% evidence |
| Exact sum: 11.8 + 10.3 + 9.6 + 15.6 = 47.3 · Decision use: Price leads the evidence: RS versus the benchmark is 24.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 8Sunflag Iron & Steel Company LtdSUNFLAG | 46.7/100Mixed-negative evidence100% evidence | ASLEEP | 18.0/35 Revenue 9% · PAT 4.6% · OPM change -1 pp 100% evidence | 8.6/25 ROCE 4.1% · OPM 11% 100% evidence | 11.2/20 P/E 28.6× · PEG 0.65 100% evidence | 8.9/20 RS sector -1.2% · RS bench 16.9% · 1Y 25.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 18 + 8.6 + 11.2 + 8.9 = 46.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Panchmahal Steel LtdPANCHMAHQ | 45.2/100Mixed-negative evidence61% evidence | 17.2/35 Revenue 4.9% · PAT 100% · OPM change 8.9 pp 71% evidence | 5.1/25 ROCE 3.1% · OPM 8.7% 76% evidence | 9.3/20 P/E 134× · PEG — 15% evidence | 13.6/20 RS sector 36.8% · RS bench -0.5% · 1Y 9.5%10 of 12 weeks ahead 70% evidence | |
| Exact sum: 17.2 + 5.1 + 9.3 + 13.6 = 45.2 · Decision use: Price leads the evidence: RS versus the benchmark is -0.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 10Asgard Alcobev Ltd512025 | 43.2/100Mixed-negative evidence69% evidence | TURNING | 20.4/35 Revenue 68.3% · PAT 33.1% · OPM change 2.3 pp 95% evidence | 6.6/25 ROCE 7.4% · OPM 9.7% 76% evidence | 8.5/20 P/E 420× · PEG — 15% evidence | 7.7/20 RS sector -1.1% · RS bench -17.4% · 1Y -36.9%0 of 10 weeks ahead 70% evidence |
| Exact sum: 20.4 + 6.6 + 8.5 + 7.7 = 43.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Jindal Steel LtdJINDALSTEL | 41.4/100Mixed-negative evidence100% evidence | ASLEEP | 12.9/35 Revenue 16.5% · PAT -9.8% · OPM change -7 pp 100% evidence | 10.5/25 ROCE 9.7% · OPM 17% 100% evidence | 11.4/20 P/E 37× · PEG 1.09 100% evidence | 6.6/20 RS sector -15.4% · RS bench 1.7% · 1Y 8.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 12.9 + 10.5 + 11.4 + 6.6 = 41.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Beekay Steel Industries LtdBEEKAY | 39.6/100Mixed-negative evidence81% evidence | TURNING | 14.4/35 Revenue 13.9% · PAT -51.1% · OPM change 5 pp 95% evidence | 9.0/25 ROCE 4.2% · OPM 11% 95% evidence | 8.0/20 P/E 18.6× · PEG — 50% evidence | 8.2/20 RS sector -12.3% · RS bench 2.1% · 1Y -12.9%3 of 8 weeks ahead 70% evidence |
| Exact sum: 14.4 + 9 + 8 + 8.2 = 39.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Prakash Industries LtdPRAKASH | 39.1/100Mixed-negative evidence87% evidence | ASLEEP | 11.4/35 Revenue -10.6% · PAT -12.1% · OPM change 1 pp 95% evidence | 10.4/25 ROCE 9.6% · OPM 14% 95% evidence | 13.5/20 P/E 7× · PEG — 50% evidence | 3.8/20 RS sector -25% · RS bench -9.8% · 1Y -23.6%2 of 12 weeks ahead 100% evidence |
| Exact sum: 11.4 + 10.4 + 13.5 + 3.8 = 39.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 14Gallantt Ispat Ltd.GALLANTT | 35.3/100Mixed-negative evidence100% evidence | BASING | 9.4/35 Revenue 4.2% · PAT -3.8% · OPM change -6 pp 100% evidence | 17.0/25 ROCE 18.2% · OPM 16% 100% evidence | 6.6/20 P/E 30.2× · PEG 1.66 100% evidence | 2.3/20 RS sector -25.4% · RS bench -10.7% · 1Y -14.6%2 of 12 weeks ahead 100% evidence |
| Exact sum: 9.4 + 17 + 6.6 + 2.3 = 35.3 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. | ||||||
| 15Rhetan TMT LtdRHETAN | 33.7/100Adverse evidence93% evidence | ASLEEP | 18.5/35 Revenue 2.6% · PAT 100% · OPM change -28.4 pp 100% evidence | 8.6/25 ROCE 11% · OPM -16.3% 100% evidence | 3.9/20 P/E 151× · PEG 3.94 65% evidence | 2.7/20 RS sector -20.7% · RS bench -5% · 1Y 25.1%3 of 12 weeks ahead 100% evidence |
| Exact sum: 18.5 + 8.6 + 3.9 + 2.7 = 33.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Salasar Techno Engineering LtdSALASAR | 27.0/100Adverse evidence87% evidence | ASLEEP | 9.0/35 Revenue 4% · PAT -44.5% · OPM change -2.5 pp 95% evidence | 9.3/25 ROCE 8.1% · OPM 7.4% 95% evidence | 8.4/20 P/E 64.4× · PEG — 50% evidence | 0.3/20 RS sector -45.3% · RS bench -33.4% · 1Y -35.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 9 + 9.3 + 8.4 + 0.3 = 27 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Electrotherm (India) LtdELECTHERM | 23.3/100Adverse evidence71% evidence | ASLEEP | 3.6/35 Revenue -3% · PAT -80% · OPM change -3.8 pp 95% evidence | 2.5/25 ROCE 0.5% · OPM 2.5% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 7.2/20 RS sector -28.4% · RS bench 8.5% · 1Y 9.9%8 of 10 weeks ahead 70% evidence |
| Exact sum: 3.6 + 2.5 + 10 + 7.2 = 23.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Banganga Paper Industries LtdBANGANGA | 45.8/100Thin evidence · provisional45% evidence | 19.8/35 Revenue 100% · PAT 100% · OPM change -2 pp 40% evidence | 13.8/25 ROCE 27% · OPM 5.7% 57% evidence | 8.7/20 P/E 347× · PEG — 15% evidence | 3.5/20 RS sector -28.9% · RS bench -32.7% · 1Y -24.9%8 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 19.8 + 13.8 + 8.7 + 3.5 = 45.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Showing 10 of 18 companies
05 · what price has already done
Market action
Raghav Productivity Enhancers Ltd has the strongest one-year price move in Steel Products at +179.2%. It also leads on Mansfield relative strength against NIFTY at +94.3%. 11 of 18 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-09-11.
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.
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.
The same measure taken against Steel 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.
06 · the story behind the numbers
Steel Products — the story behind the numbers
This is the written read behind the Steel Products figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 29 Jul 2026. 5 themes are live here, 4 of them rated high severity.
The Steel Products sector displays mixed performance across the five constituents analyzed for Report Week 2026-07-19. Revenue growth varies materially, with SUNFLAG reporting a 13.3% YoY increase to ₹1,003.68 cr and RHETAN achieving 30.82% YoY growth to ₹8.49 Cr. Conversely, ELECTHERM revenue declined 1.82% YoY and SALASAR consolidated revenue dropped 8% YoY.
How old this read is: This read comes from our Steel Products sector brief dated 29 Jul 2026 — 50 days old. The numbers above it are newer than the words here.
What is live in this sector right now
| Live theme | Severity | Evidence on file |
|---|---|---|
| Middle East conflict causing LPG supply disruption classified as force majeure, adversely impacting production activities.Named for SALASAR | high | Company actively coordinating with Oil Marketing Companies (OMCs) and relevant government authorities to secure LPG supply. |
| Steel sector facing weak demand from construction and infrastructure segments with volatile raw material prices compressing margins.Named for ELECTHERM, RHETAN, SALASAR, SUNFLAG | high | “Decline in Revenue by 0.57% mainly due to decline in prices” Prices of finished goods move in tandem with raw material prices, though with a time lag. |
| Company disclosed loan defaults to SEBI. Effective tax rate spiked to 57.86% in Q4 FY26.Named for ELECTHERM, RHETAN, SALASAR, SUNFLAG | high | Settlement with ARC for payment of outstanding loans on certain terms and conditions. |
| Pending CBI chargesheet against company and directors. Supreme Court judgement upheld State Governments' power to tax mineral rights retrospectively.Named for ELECTHERM, SUNFLAG | high | Company has entered into settlement with ARC for payment of outstanding loans. |
| Inventory days reached 748 days and cash conversion cycle extended to 1,083 days, indicating slow-moving stock.Named for RHETAN, SALASAR, SUNFLAG | medium | Company evaluating the impact arising from the ongoing disruption. |
Sources: our Steel Products sector brief, 29 Jul 2026 · company earnings-call transcripts.
07 · compare level, then change
Revenue Scale & Growth Durability
Jindal Steel Ltd has the highest Revenue among the 18 Steel Products companies compared here, at ₹56,413 crore. Shyam Metalics & Energy Ltd is next at ₹19,583 crore. Banganga Paper Industries Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: Jindal Steel Ltd is the scale leader at ₹56,413 crore, 188.1% ahead of Shyam Metalics & Energy Ltd. Banganga Paper Industries Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 126.6% from a ₹85 crore base, with 10 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderJindal Steel Ltd · ₹56,413 crore
Gap188.1% versus #2 · Shyam Metalics & Energy Ltd
Persistence5/8 recent comparable periods
Coverage18/18 companies · 303 observations
Investor read: Jindal Steel Ltd is the scale benchmark; Banganga Paper Industries Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Jindal Steel Ltd's growth falls below Banganga Paper Industries 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
Revenue growthfastest growers
Revenue · company comparison
18/18 level · 18/18 change
On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.
All-company data · latest reported quarter
In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Jindal Steel Ltd JINDALSTEL | ₹15.5K Cr | 26% | Jun 2026 |
| Shyam Metalics & Energy Ltd SHYAMMETL | ₹5.5K Cr | 23% | Jun 2026 |
| Gallantt Ispat Ltd. GALLANTT | ₹1.1K Cr | 1.6% | Jun 2026 |
| Sunflag Iron & Steel Company Ltd SUNFLAG | ₹1.1K Cr | 5.5% | Jun 2026 |
| Prakash Industries Ltd PRAKASH⚠ unverified | ₹1.0K Cr | -0.5% | Jun 2026 |
| Electrotherm (India) Ltd ELECTHERM⚠ unverified | ₹913 Cr | 9.5% | Jun 2026 |
| Vardhman Special Steels Ltd VSSL | ₹486 Cr | 12% | Jun 2026 |
| Kalyani Steels Ltd KSL | ₹465 Cr | 5.0% | Jun 2026 |
| Beekay Steel Industries Ltd BEEKAY⚠ unverified | ₹375 Cr | 33% | Jun 2026 |
| Salasar Techno Engineering Ltd SALASAR⚠ unverified | ₹296 Cr | -1.5% | Jun 2026 |
| Steel Exchange India Ltd STEELXIND⚠ unverified | ₹270 Cr | -10% | Jun 2026 |
| Kamdhenu Ltd KAMDHENU⚠ unverified | ₹213 Cr | 8.7% | Jun 2026 |
| BMW Industries Ltd 542669 | ₹166 Cr | 11% | Jun 2026 |
| Panchmahal Steel Ltd PANCHMAHQ | ₹94 Cr | 7.4% | Jun 2026 |
| Raghav Productivity Enhancers Ltd RPEL | ₹87 Cr | 50% | Jun 2026 |
| Asgard Alcobev Ltd 512025 | ₹53 Cr | 151% | Jun 2026 |
| Banganga Paper Industries Ltd BANGANGA | ₹20 Cr | -5.0% | Dec 2025 |
| Rhetan TMT Ltd RHETAN | ₹4 Cr | -19% | Jun 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
—
—
—
—
—
₹615 Cr
₹1.0K Cr
₹931 Cr
₹985 Cr
₹1.1K Cr
₹1.2K Cr
₹1.1K Cr
₹814 Cr
₹1.1K Cr
₹1.2K Cr
₹834 Cr
₹814 Cr
₹904 Cr
₹1.1K Cr
₹913 Cr
Gallantt Ispat Ltd. · GALLANTT
₹391 Cr
₹455 Cr
₹1.8K Cr
₹1.0K Cr
₹931 Cr
₹1.0K Cr
₹1.1K Cr
₹1.0K Cr
₹950 Cr
₹1.1K Cr
₹1.2K Cr
₹1.2K Cr
₹943 Cr
₹1.1K Cr
₹1.1K Cr
₹1.1K Cr
₹1.0K Cr
₹1.1K Cr
₹1.2K Cr
₹1.1K Cr
Jindal Steel Ltd · JINDALSTEL
₹13.6K Cr
₹12.5K Cr
₹14.3K Cr
₹13.0K Cr
₹13.5K Cr
₹12.5K Cr
₹13.7K Cr
₹12.6K Cr
₹12.3K Cr
₹11.7K Cr
₹13.5K Cr
₹13.6K Cr
₹11.2K Cr
₹11.8K Cr
₹13.2K Cr
₹12.3K Cr
₹11.7K Cr
₹13.0K Cr
₹16.2K Cr
₹15.5K Cr
Kalyani Steels Ltd · KSL
₹461 Cr
₹407 Cr
₹449 Cr
₹493 Cr
₹500 Cr
₹447 Cr
₹460 Cr
₹497 Cr
₹480 Cr
₹480 Cr
₹503 Cr
₹461 Cr
₹492 Cr
₹484 Cr
₹544 Cr
₹443 Cr
₹456 Cr
₹462 Cr
₹484 Cr
₹465 Cr
Prakash Industries Ltd · PRAKASH⚠ unverified
—
—
—
—
—
₹761 Cr
₹1.0K Cr
₹1.0K Cr
₹889 Cr
₹885 Cr
₹890 Cr
₹1.2K Cr
₹1.1K Cr
₹926 Cr
₹845 Cr
₹1.0K Cr
₹723 Cr
₹799 Cr
₹920 Cr
₹1.0K Cr
Raghav Productivity Enhancers Ltd · RPEL
₹24 Cr
₹23 Cr
₹32 Cr
₹33 Cr
₹36 Cr
₹34 Cr
₹34 Cr
₹30 Cr
₹32 Cr
₹32 Cr
₹39 Cr
₹45 Cr
₹49 Cr
₹55 Cr
₹51 Cr
₹58 Cr
₹64 Cr
₹64 Cr
₹71 Cr
₹87 Cr
Rhetan TMT Ltd · RHETAN
₹16 Cr
₹18 Cr
₹18 Cr
₹17 Cr
₹17 Cr
₹26 Cr
₹26 Cr
₹24 Cr
₹10 Cr
₹12 Cr
₹18 Cr
₹19 Cr
₹5 Cr
₹6 Cr
₹6 Cr
₹5 Cr
₹5 Cr
₹6 Cr
₹8 Cr
₹4 Cr
Shyam Metalics & Energy Ltd · SHYAMMETL
₹2.5K Cr
₹2.6K Cr
₹2.9K Cr
₹3.2K Cr
₹3.1K Cr
₹2.9K Cr
₹3.4K Cr
₹3.3K Cr
₹2.9K Cr
₹3.3K Cr
₹3.6K Cr
₹3.6K Cr
₹3.6K Cr
₹3.8K Cr
₹4.1K Cr
₹4.4K Cr
₹4.5K Cr
₹4.4K Cr
₹5.2K Cr
₹5.5K Cr
Steel Exchange India Ltd · STEELXIND⚠ unverified
—
—
—
—
—
₹304 Cr
₹398 Cr
₹251 Cr
₹269 Cr
₹256 Cr
₹312 Cr
₹264 Cr
₹261 Cr
₹328 Cr
₹291 Cr
₹300 Cr
₹232 Cr
₹240 Cr
₹287 Cr
₹270 Cr
Sunflag Iron & Steel Company Ltd · SUNFLAG
₹686 Cr
₹696 Cr
₹649 Cr
₹897 Cr
₹886 Cr
₹869 Cr
₹837 Cr
₹784 Cr
₹858 Cr
₹854 Cr
₹919 Cr
₹895 Cr
₹866 Cr
₹892 Cr
₹883 Cr
₹1.0K Cr
₹973 Cr
₹942 Cr
₹1.0K Cr
₹1.1K Cr
Vardhman Special Steels Ltd · VSSL
₹336 Cr
₹359 Cr
₹343 Cr
₹469 Cr
₹443 Cr
₹401 Cr
₹422 Cr
₹409 Cr
₹415 Cr
₹397 Cr
₹439 Cr
₹415 Cr
₹495 Cr
₹427 Cr
₹428 Cr
₹434 Cr
₹432 Cr
₹431 Cr
₹458 Cr
₹486 Cr
Revenue growth · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
BMW Industries Ltd · 542669
—
—
—
—
—
—
—
—
—
—
1.5%
10%
-5.7%
2.8%
15%
-14%
-3.3%
9.5%
34%
11%
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
—
—
—
—
—
—
—
—
—
85%
18%
14%
-17%
-4.9%
-4.6%
-21%
0.1%
-16%
-1.8%
9.5%
Gallantt Ispat Ltd. · GALLANTT
—
—
—
196%
138%
121%
-40%
1.5%
2.0%
5.7%
7.6%
12%
-0.7%
5.2%
-8.9%
-2.8%
7.4%
-3.9%
12%
1.6%
Jindal Steel Ltd · JINDALSTEL
—
—
—
23%
-0.7%
-0.6%
-4.5%
-3.5%
-9.4%
-6.0%
-1.5%
8.2%
-8.5%
0.4%
-2.3%
-9.7%
4.2%
11%
23%
26%
Kalyani Steels Ltd · KSL
—
11%
19%
26%
8.5%
9.8%
2.5%
0.8%
-4.0%
7.4%
9.4%
-7.2%
2.5%
0.8%
8.2%
-3.9%
-7.3%
-4.6%
-11%
5.0%
Prakash Industries Ltd · PRAKASH⚠ unverified
—
—
—
—
—
—
—
—
—
16%
-12%
15%
21%
4.6%
-5.1%
-11%
-33%
-14%
8.9%
-0.5%
Raghav Productivity Enhancers Ltd · RPEL
—
—
—
—
50%
48%
6.3%
-9.1%
-11%
-5.9%
15%
50%
53%
72%
31%
29%
31%
16%
39%
50%
Rhetan TMT Ltd · RHETAN
—
—
—
6.3%
6.3%
44%
44%
43%
-38%
-53%
-31%
-20%
-53%
-47%
-64%
-74%
-3.8%
-3.6%
31%
-19%
Shyam Metalics & Energy Ltd · SHYAMMETL
—
—
—
—
24%
13%
20%
3.4%
-4.7%
13%
5.2%
8.4%
24%
13%
15%
22%
23%
18%
27%
23%
Steel Exchange India Ltd · STEELXIND⚠ unverified
—
—
—
—
—
—
—
—
—
-16%
-22%
5.2%
-3.0%
28%
-6.7%
14%
-11%
-27%
-1.4%
-10%
Sunflag Iron & Steel Company Ltd · SUNFLAG
—
—
—
34%
29%
25%
29%
-13%
-3.2%
-1.7%
9.8%
14%
0.9%
4.5%
-3.9%
14%
12%
5.6%
13%
5.5%
Vardhman Special Steels Ltd · VSSL
—
—
—
—
32%
12%
23%
-13%
-6.3%
-1.0%
4.0%
1.5%
19%
7.6%
-2.5%
4.6%
-13%
0.9%
7.0%
12%
08 · compare level, then change
Operating Economics & Margin Trend
Raghav Productivity Enhancers Ltd has the highest OPM among the 18 Steel Products companies compared here, at 30%. BMW Industries Ltd is next at 20%. Panchmahal Steel Ltd has the highest Margin change at +8.9 percentage points, so level and change sit with different companies. 18 of 18 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Raghav Productivity Enhancers Ltd leads opm at 30%; Panchmahal Steel Ltd leads margin change at +8.9 percentage points.
LeaderRaghav Productivity Enhancers Ltd · 30%
Gap50% versus #2 · BMW Industries Ltd
Persistence4/8 recent comparable periods
Coverage18/18 companies · 356 observations
Investor read: Raghav Productivity Enhancers 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
Margin changefastest expanders
Operating margin · company comparison
18/18 level · 18/18 change
All-company data · latest reported quarter
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Raghav Productivity Enhancers Ltd RPEL | 30% | +3.0 pp | Jun 2026 |
| BMW Industries Ltd 542669 | 20% | −1.0 pp | Jun 2026 |
| Kalyani Steels Ltd KSL | 20% | +1.0 pp | Jun 2026 |
| Jindal Steel Ltd JINDALSTEL | 17% | −7.0 pp | Jun 2026 |
| Gallantt Ispat Ltd. GALLANTT | 16% | −6.0 pp | Jun 2026 |
| Shyam Metalics & Energy Ltd SHYAMMETL | 14% | +1.0 pp | Jun 2026 |
| Prakash Industries Ltd PRAKASH⚠ unverified | 14% | +1.0 pp | Jun 2026 |
| Steel Exchange India Ltd STEELXIND⚠ unverified | 13% | +3.0 pp | Jun 2026 |
| Vardhman Special Steels Ltd VSSL | 12% | +5.0 pp | Jun 2026 |
| Sunflag Iron & Steel Company Ltd SUNFLAG | 11% | −1.0 pp | Jun 2026 |
| Beekay Steel Industries Ltd BEEKAY⚠ unverified | 11% | +5.0 pp | Jun 2026 |
| Kamdhenu Ltd KAMDHENU⚠ unverified | 10% | −1.0 pp | Jun 2026 |
| Asgard Alcobev Ltd 512025 | 9.7% | +2.3 pp | Jun 2026 |
| Panchmahal Steel Ltd PANCHMAHQ | 8.7% | +9.0 pp | Jun 2026 |
| Salasar Techno Engineering Ltd SALASAR⚠ unverified | 7.4% | −2.6 pp | Jun 2026 |
| Banganga Paper Industries Ltd BANGANGA | 5.7% | −2.0 pp | Dec 2025 |
| Electrotherm (India) Ltd ELECTHERM⚠ unverified | 2.5% | −3.8 pp | Jun 2026 |
| Rhetan TMT Ltd RHETAN | -16% | −28.4 pp | Jun 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
BMW Industries Ltd · 542669
26%
22%
19%
20%
22%
29%
21%
23%
24%
22%
28%
24%
23%
24%
21%
21%
25%
24%
28%
20%
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
0.6%
2.5%
1.3%
-3.4%
1.7%
6.0%
10%
7.7%
9.2%
11%
11%
12%
8.3%
9.9%
5.6%
6.2%
-1.5%
-3.4%
2.2%
2.5%
Gallantt Ispat Ltd. · GALLANTT
4.6%
7.1%
13%
7.1%
8.4%
8.0%
11%
7.0%
9.0%
10%
16%
19%
10%
18%
17%
22%
13%
14%
15%
16%
Jindal Steel Ltd · JINDALSTEL
34%
26%
21%
26%
14%
19%
16%
21%
19%
24%
18%
21%
20%
19%
17%
24%
18%
13%
18%
17%
Kalyani Steels Ltd · KSL
19%
15%
22%
4.9%
7.9%
9.9%
27%
15%
16%
17%
15%
17%
20%
17%
21%
19%
19%
20%
20%
20%
Prakash Industries Ltd · PRAKASH⚠ unverified
11%
10%
9.3%
11%
13%
13%
11%
12%
14%
14%
14%
11%
12%
13%
16%
13%
15%
16%
16%
14%
Raghav Productivity Enhancers Ltd · RPEL
24%
26%
21%
23%
25%
28%
29%
28%
30%
31%
31%
27%
26%
26%
28%
27%
29%
30%
30%
30%
Rhetan TMT Ltd · RHETAN
5.5%
7.4%
8.1%
3.8%
4.5%
12%
13%
6.3%
10%
15%
7.4%
8.5%
63%
35%
-47%
12%
23%
39%
30%
-16%
Shyam Metalics & Energy Ltd · SHYAMMETL
25%
24%
23%
19%
7.9%
8.0%
12%
12%
10%
12%
12%
14%
11%
12%
12%
13%
12%
11%
14%
14%
Steel Exchange India Ltd · STEELXIND⚠ unverified
-2.7%
20%
7.8%
9.3%
8.6%
0.2%
9.0%
8.0%
7.0%
9.0%
11%
10%
10%
12%
11%
10%
12%
9.0%
17%
13%
Sunflag Iron & Steel Company Ltd · SUNFLAG
17%
13%
12%
7.8%
18%
13%
12%
10%
12%
11%
11%
9.0%
11%
12%
11%
12%
10%
14%
12%
11%
Vardhman Special Steels Ltd · VSSL
14%
11%
11%
9.7%
7.9%
9.1%
5.8%
7.0%
8.0%
8.0%
11%
10%
8.0%
8.0%
7.0%
7.0%
10%
10%
10%
12%
Margin change · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
BMW Industries Ltd · 542669
+2.6 pp
+3.2 pp
−6.4 pp
−7.9 pp
−3.9 pp
+6.9 pp
+2.0 pp
+3.3 pp
+1.9 pp
−7.0 pp
+7.0 pp
+1.0 pp
−1.0 pp
+2.0 pp
−7.0 pp
−3.0 pp
+2.0 pp
0.0 pp
+7.0 pp
−1.0 pp
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
−5.5 pp
−10.0 pp
−10.5 pp
−11.3 pp
+1.1 pp
+3.5 pp
+8.7 pp
+11.1 pp
+7.6 pp
+5.1 pp
+0.8 pp
+4.8 pp
−0.9 pp
−1.1 pp
−5.2 pp
−6.3 pp
−9.8 pp
−13.3 pp
−3.4 pp
−3.8 pp
Gallantt Ispat Ltd. · GALLANTT
−1.9 pp
−6.2 pp
−1.7 pp
−5.5 pp
+3.9 pp
+0.9 pp
−1.7 pp
−0.1 pp
+0.6 pp
+2.0 pp
+5.0 pp
+12.0 pp
+1.0 pp
+8.0 pp
+1.0 pp
+3.0 pp
+3.0 pp
−4.0 pp
−2.0 pp
−6.0 pp
Jindal Steel Ltd · JINDALSTEL
+4.4 pp
−15.9 pp
−18.6 pp
+7.2 pp
−19.5 pp
−7.4 pp
−5.4 pp
−5.4 pp
+4.7 pp
+5.0 pp
+2.0 pp
0.0 pp
+1.0 pp
−5.0 pp
−1.0 pp
+3.0 pp
−2.0 pp
−6.0 pp
+1.0 pp
−7.0 pp
Kalyani Steels Ltd · KSL
−0.1 pp
−8.0 pp
−5.0 pp
−20.1 pp
−11.1 pp
−5.1 pp
+4.7 pp
+10.5 pp
+8.4 pp
+6.9 pp
−11.9 pp
+1.6 pp
+3.7 pp
+0.2 pp
+6.2 pp
+2.0 pp
−1.0 pp
+3.0 pp
−1.0 pp
+1.0 pp
Prakash Industries Ltd · PRAKASH⚠ unverified
+2.8 pp
+0.5 pp
−0.7 pp
+1.9 pp
+2.1 pp
+2.7 pp
+1.7 pp
+0.8 pp
+0.8 pp
+1.0 pp
+3.0 pp
−1.0 pp
−2.0 pp
−1.0 pp
+2.0 pp
+2.0 pp
+3.0 pp
+3.0 pp
0.0 pp
+1.0 pp
Raghav Productivity Enhancers Ltd · RPEL
+1.1 pp
+3.7 pp
−5.9 pp
−6.1 pp
+0.8 pp
+2.2 pp
+7.8 pp
+5.0 pp
+5.5 pp
+3.0 pp
+2.0 pp
−1.0 pp
−4.0 pp
−5.0 pp
−3.0 pp
0.0 pp
+3.0 pp
+4.0 pp
+2.0 pp
+3.0 pp
Rhetan TMT Ltd · RHETAN
—
—
—
−1.0 pp
−1.0 pp
+4.6 pp
+4.6 pp
+2.5 pp
+5.6 pp
+3.0 pp
−5.3 pp
+2.3 pp
+53.2 pp
+19.9 pp
−53.9 pp
+3.6 pp
−40.1 pp
+3.9 pp
+76.5 pp
−28.4 pp
Shyam Metalics & Energy Ltd · SHYAMMETL
+5.5 pp
+3.5 pp
−3.5 pp
−9.1 pp
−17.1 pp
−16.2 pp
−11.2 pp
−6.8 pp
+2.1 pp
+4.0 pp
0.0 pp
+2.0 pp
+1.0 pp
0.0 pp
0.0 pp
−1.0 pp
+1.0 pp
−1.0 pp
+2.0 pp
+1.0 pp
Steel Exchange India Ltd · STEELXIND⚠ unverified
−13.2 pp
+1.3 pp
−5.6 pp
−2.3 pp
+11.3 pp
−19.9 pp
+1.2 pp
−1.3 pp
−1.6 pp
+8.8 pp
+2.0 pp
+2.0 pp
+3.0 pp
+3.0 pp
0.0 pp
0.0 pp
+2.0 pp
−3.0 pp
+6.0 pp
+3.0 pp
Sunflag Iron & Steel Company Ltd · SUNFLAG
+4.4 pp
+0.2 pp
−6.8 pp
−9.4 pp
+1.2 pp
+0.4 pp
−0.1 pp
+2.2 pp
−6.3 pp
−2.0 pp
−1.0 pp
−1.0 pp
−1.0 pp
+1.0 pp
0.0 pp
+3.0 pp
−1.0 pp
+2.0 pp
+1.0 pp
−1.0 pp
Vardhman Special Steels Ltd · VSSL
+5.1 pp
−2.9 pp
−4.6 pp
−5.7 pp
−5.8 pp
−1.7 pp
−5.3 pp
−2.7 pp
+0.1 pp
−1.1 pp
+5.2 pp
+3.0 pp
0.0 pp
0.0 pp
−4.0 pp
−3.0 pp
+2.0 pp
+2.0 pp
+3.0 pp
+5.0 pp
09 · compare level, then change
Profit Scale & Acceleration
Jindal Steel Ltd has the highest Net profit among the 18 Steel Products companies compared here, at ₹2,709 crore. Shyam Metalics & Energy Ltd is next at ₹1,121 crore. Banganga Paper Industries 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: Jindal Steel Ltd leads with ₹2,709 crore of TTM profit, 141.7% above Shyam Metalics & Energy Ltd. Banganga Paper Industries Ltd shows ≥100% on the scoring scale (114.8% uncapped) growth from a ₹2 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderJindal Steel Ltd · ₹2,709 crore
Gap141.7% versus #2 · Shyam Metalics & Energy Ltd
Persistence1/8 recent comparable periods
Coverage18/18 companies · 303 observations
Investor read: Jindal 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
Profit growthfastest growers
Net profit · company comparison
18/18 level · 17/18 change
All-company data · latest reported quarter
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Jindal Steel Ltd JINDALSTEL | ₹844 Cr | -44% | Jun 2026 |
| Shyam Metalics & Energy Ltd SHYAMMETL | ₹351 Cr | 21% | Jun 2026 |
| Gallantt Ispat Ltd. GALLANTT | ₹124 Cr | -29% | Jun 2026 |
| Prakash Industries Ltd PRAKASH⚠ unverified | ₹71 Cr | -22% | Jun 2026 |
| Kalyani Steels Ltd KSL | ₹68 Cr | 9.7% | Jun 2026 |
| Sunflag Iron & Steel Company Ltd SUNFLAG | ₹66 Cr | 4.8% | Jun 2026 |
| Vardhman Special Steels Ltd VSSL | ₹41 Cr | 105% | Jun 2026 |
| Beekay Steel Industries Ltd BEEKAY⚠ unverified | ₹38 Cr | 23% | Jun 2026 |
| Kamdhenu Ltd KAMDHENU⚠ unverified | ₹29 Cr | 38% | Jun 2026 |
| Raghav Productivity Enhancers Ltd RPEL | ₹20 Cr | 67% | Jun 2026 |
| BMW Industries Ltd 542669 | ₹19 Cr | 27% | Jun 2026 |
| Steel Exchange India Ltd STEELXIND⚠ unverified | ₹15 Cr | 50% | Jun 2026 |
| Electrotherm (India) Ltd ELECTHERM⚠ unverified | ₹7 Cr | -75% | Jun 2026 |
| Salasar Techno Engineering Ltd SALASAR⚠ unverified | ₹5 Cr | -42% | Jun 2026 |
| Panchmahal Steel Ltd PANCHMAHQ | ₹4 Cr | -26% | Jun 2026 |
| Rhetan TMT Ltd RHETAN | ₹3 Cr | 316% | Jun 2026 |
| Asgard Alcobev Ltd 512025 | ₹3 Cr | 291% | Jun 2026 |
| Banganga Paper Industries Ltd BANGANGA | ₹0 Cr | -91% | Dec 2025 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
BMW Industries Ltd · 542669
—
—
—
—
—
—
₹16 Cr
₹16 Cr
₹18 Cr
₹12 Cr
₹19 Cr
₹22 Cr
₹18 Cr
₹17 Cr
₹18 Cr
₹15 Cr
₹15 Cr
₹18 Cr
₹33 Cr
₹19 Cr
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
—
—
—
—
—
₹7 Cr
₹42 Cr
₹39 Cr
₹68 Cr
₹107 Cr
₹104 Cr
₹109 Cr
₹59 Cr
₹88 Cr
₹186 Cr
₹28 Cr
₹-22 Cr
₹-35 Cr
₹14 Cr
₹7 Cr
Gallantt Ispat Ltd. · GALLANTT
₹7 Cr
₹22 Cr
₹120 Cr
₹25 Cr
₹28 Cr
₹21 Cr
₹68 Cr
₹31 Cr
₹47 Cr
₹52 Cr
₹95 Cr
₹122 Cr
₹49 Cr
₹114 Cr
₹116 Cr
₹174 Cr
₹89 Cr
₹100 Cr
₹123 Cr
₹124 Cr
Jindal Steel Ltd · JINDALSTEL
₹2.6K Cr
₹1.6K Cr
₹1.5K Cr
₹2.0K Cr
₹219 Cr
₹518 Cr
₹466 Cr
₹1.7K Cr
₹1.4K Cr
₹1.9K Cr
₹933 Cr
₹1.3K Cr
₹860 Cr
₹951 Cr
₹-304 Cr
₹1.5K Cr
₹635 Cr
₹189 Cr
₹1.0K Cr
₹844 Cr
Kalyani Steels Ltd · KSL
₹62 Cr
₹43 Cr
₹73 Cr
₹24 Cr
₹35 Cr
₹39 Cr
₹70 Cr
₹61 Cr
₹58 Cr
₹65 Cr
₹64 Cr
₹52 Cr
₹67 Cr
₹56 Cr
₹80 Cr
₹62 Cr
₹63 Cr
₹62 Cr
₹72 Cr
₹68 Cr
Prakash Industries Ltd · PRAKASH⚠ unverified
—
—
—
—
—
₹45 Cr
₹58 Cr
₹89 Cr
₹89 Cr
₹81 Cr
₹89 Cr
₹90 Cr
₹90 Cr
₹84 Cr
₹91 Cr
₹91 Cr
₹62 Cr
₹87 Cr
₹93 Cr
₹71 Cr
Raghav Productivity Enhancers Ltd · RPEL
₹7 Cr
₹4 Cr
₹6 Cr
₹5 Cr
₹6 Cr
₹7 Cr
₹7 Cr
₹6 Cr
₹6 Cr
₹6 Cr
₹8 Cr
₹8 Cr
₹9 Cr
₹10 Cr
₹10 Cr
₹12 Cr
₹14 Cr
₹14 Cr
₹15 Cr
₹20 Cr
Rhetan TMT Ltd · RHETAN
₹0 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹2 Cr
₹2 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹2 Cr
₹1 Cr
₹0 Cr
₹1 Cr
₹3 Cr
₹4 Cr
₹2 Cr
₹3 Cr
Shyam Metalics & Energy Ltd · SHYAMMETL
₹414 Cr
₹421 Cr
₹431 Cr
₹415 Cr
₹114 Cr
₹65 Cr
₹254 Cr
₹202 Cr
₹482 Cr
₹126 Cr
₹220 Cr
₹276 Cr
₹216 Cr
₹197 Cr
₹220 Cr
₹291 Cr
₹260 Cr
₹198 Cr
₹312 Cr
₹351 Cr
Steel Exchange India Ltd · STEELXIND⚠ unverified
—
—
—
—
—
₹-25 Cr
₹-43 Cr
₹-5 Cr
₹-4 Cr
₹0 Cr
₹20 Cr
₹3 Cr
₹3 Cr
₹16 Cr
₹5 Cr
₹10 Cr
₹2 Cr
₹2 Cr
₹12 Cr
₹15 Cr
Sunflag Iron & Steel Company Ltd · SUNFLAG
₹65 Cr
₹43 Cr
₹41 Cr
₹921 Cr
₹95 Cr
₹60 Cr
₹40 Cr
₹26 Cr
₹39 Cr
₹36 Cr
₹43 Cr
₹28 Cr
₹41 Cr
₹50 Cr
₹43 Cr
₹63 Cr
₹46 Cr
₹60 Cr
₹34 Cr
₹66 Cr
Vardhman Special Steels Ltd · VSSL
₹24 Cr
₹19 Cr
₹29 Cr
₹30 Cr
₹28 Cr
₹28 Cr
₹14 Cr
₹19 Cr
₹18 Cr
₹22 Cr
₹33 Cr
₹26 Cr
₹26 Cr
₹21 Cr
₹20 Cr
₹20 Cr
₹35 Cr
₹34 Cr
₹34 Cr
₹41 Cr
Profit growth · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
BMW Industries Ltd · 542669
—
—
—
—
—
—
—
—
—
—
19%
38%
0.0%
42%
-5.3%
-32%
-17%
5.9%
83%
27%
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
—
—
—
—
—
—
—
—
—
1,430%
148%
181%
-12%
-18%
78%
-75%
-136%
-140%
-93%
-75%
Gallantt Ispat Ltd. · GALLANTT
—
—
—
-7.4%
300%
-4.6%
-43%
24%
68%
148%
40%
294%
4.3%
119%
22%
43%
82%
-12%
6.0%
-29%
Jindal Steel Ltd · JINDALSTEL
—
—
—
14,279%
-92%
-68%
-69%
-16%
535%
272%
100%
-21%
-38%
-51%
-133%
12%
-26%
-80%
—
-44%
Kalyani Steels Ltd · KSL
—
-28%
-4.0%
-66%
-44%
-9.3%
-4.1%
154%
66%
67%
-8.6%
-15%
16%
-14%
25%
19%
-6.0%
11%
-10%
9.7%
Prakash Industries Ltd · PRAKASH⚠ unverified
—
—
—
—
—
—
—
—
—
80%
53%
1.1%
1.1%
3.7%
2.3%
1.1%
-31%
3.6%
2.2%
-22%
Raghav Productivity Enhancers Ltd · RPEL
—
—
—
—
-14%
75%
17%
20%
0.0%
-14%
14%
33%
50%
67%
25%
50%
56%
40%
50%
67%
Rhetan TMT Ltd · RHETAN
—
—
—
—
—
100%
100%
-24%
-32%
-49%
-52%
6.6%
234%
35%
-50%
-6.2%
26%
220%
363%
316%
Shyam Metalics & Energy Ltd · SHYAMMETL
—
—
—
—
-72%
-85%
-41%
-51%
323%
94%
-13%
37%
-55%
56%
0.0%
5.4%
20%
0.5%
42%
21%
Steel Exchange India Ltd · STEELXIND⚠ unverified
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-75%
233%
-33%
-88%
140%
50%
Sunflag Iron & Steel Company Ltd · SUNFLAG
—
—
—
1,254%
46%
40%
-2.4%
-97%
-59%
-40%
7.5%
7.7%
5.1%
39%
0.0%
125%
12%
20%
-21%
4.8%
Vardhman Special Steels Ltd · VSSL
—
—
—
—
17%
47%
-52%
-37%
-36%
-21%
136%
37%
44%
-4.6%
-39%
-23%
35%
62%
70%
105%
10 · compare level, then change
Return On Capital Employed
Raghav Productivity Enhancers Ltd has the highest ROCE among the 18 Steel Products companies compared here, at 30.3%. Kamdhenu Ltd is next at 29.5%. The same company also holds the highest ROCE change, at +6.5 percentage points. 18 of 18 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Raghav Productivity Enhancers Ltd leads ROCE at 30.3%, 0.8 percentage points above Kamdhenu Ltd. Raghav Productivity Enhancers Ltd has the strongest latest improvement at +6.5 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.
LeaderRaghav Productivity Enhancers Ltd · 30.3%
Gap2.7% versus #2 · Kamdhenu Ltd
Persistence7/8 recent comparable periods
Coverage18/18 companies · 209 observations
Investor read: Raghav Productivity Enhancers 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
ROCE changefastest improvers
Return on capital · company comparison
18/18 level · 17/18 change
All-company data · latest reported quarter
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Raghav Productivity Enhancers Ltd RPEL | 35% | +6.5 pp | Jun 2026 |
| Kamdhenu Ltd KAMDHENU⚠ unverified | 23% | +1.6 pp | Jun 2026 |
| Vardhman Special Steels Ltd VSSL | 19% | +2.2 pp | Jun 2026 |
| Gallantt Ispat Ltd. GALLANTT | 16% | −2.2 pp | Jun 2026 |
| Shyam Metalics & Energy Ltd SHYAMMETL | 15% | +1.9 pp | Jun 2026 |
| Kalyani Steels Ltd KSL | 14% | −2.0 pp | Jun 2026 |
| Steel Exchange India Ltd STEELXIND⚠ unverified | 11% | −1.9 pp | Jun 2026 |
| Salasar Techno Engineering Ltd SALASAR⚠ unverified | 9.9% | −1.9 pp | Jun 2026 |
| Electrotherm (India) Ltd ELECTHERM⚠ unverified | 8.6% | −136.1 pp | Jun 2026 |
| Prakash Industries Ltd PRAKASH⚠ unverified | 8.5% | −1.9 pp | Jun 2026 |
| Jindal Steel Ltd JINDALSTEL | 7.2% | −1.6 pp | Jun 2026 |
| Rhetan TMT Ltd RHETAN | 4.5% | +1.0 pp | Jun 2026 |
| Beekay Steel Industries Ltd BEEKAY⚠ unverified | 4.5% | −3.6 pp | Jun 2026 |
| Sunflag Iron & Steel Company Ltd SUNFLAG | 3.5% | +0.6 pp | Jun 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Showing the 12 largest of 14 companies with a series here. The remaining 2 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
-126%
—
0.1%
—
9.6%
—
-10%
—
-380%
—
-249%
—
145%
146%
145%
166%
84%
58%
8.6%
—
Gallantt Ispat Ltd. · GALLANTT
15%
—
11%
—
13%
—
11%
—
11%
12%
13%
19%
17%
22%
19%
22%
19%
20%
16%
—
Jindal Steel Ltd · JINDALSTEL
30%
—
25%
—
18%
—
13%
—
12%
13%
12%
13%
11%
11%
7.9%
8.8%
7.5%
6.9%
8.1%
7.2%
Kalyani Steels Ltd · KSL
24%
26%
18%
—
12%
—
14%
—
19%
—
17%
—
16%
—
16%
20%
15%
19%
14%
—
Kamdhenu Ltd · KAMDHENU⚠ unverified
21%
18%
19%
—
—
—
31%
—
29%
—
23%
33%
20%
32%
21%
31%
22%
31%
23%
—
Prakash Industries Ltd · PRAKASH⚠ unverified
6.6%
—
7.0%
—
7.1%
—
7.7%
—
8.7%
11%
10%
12%
10%
12%
10%
12%
9.3%
10%
8.5%
—
Raghav Productivity Enhancers Ltd · RPEL
18%
—
20%
—
21%
—
23%
—
22%
25%
21%
24%
22%
26%
23%
28%
25%
31%
27%
35%
Rhetan TMT Ltd · RHETAN
—
7.4%
11%
4.2%
4.0%
6.3%
8.3%
—
9.5%
—
6.9%
6.1%
8.7%
8.4%
3.5%
6.8%
0.5%
9.6%
4.5%
—
Shyam Metalics & Energy Ltd · SHYAMMETL
36%
—
37%
—
23%
—
14%
—
9.8%
12%
8.9%
13%
10%
14%
9.9%
13%
10%
13%
11%
15%
Steel Exchange India Ltd · STEELXIND⚠ unverified
—
—
9.9%
—
16%
—
9.7%
—
6.5%
10%
7.5%
9.5%
9.1%
12%
10%
13%
11%
11%
9.7%
11%
Sunflag Iron & Steel Company Ltd · SUNFLAG
16%
—
15%
—
10%
—
9.3%
—
5.5%
6.4%
4.5%
5.5%
3.4%
4.4%
2.9%
4.3%
3.3%
3.9%
3.5%
—
Vardhman Special Steels Ltd · VSSL
28%
—
25%
—
25%
—
21%
—
17%
—
18%
21%
20%
22%
17%
17%
11%
16%
14%
19%
ROCE change · reported quarter history
Showing the 12 largest of 14 companies with a series here. The remaining 2 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
—
—
—
—
+135.9 pp
—
−10.4 pp
—
−389.2 pp
—
−238.3 pp
—
+524.1 pp
—
+393.3 pp
—
−60.1 pp
−87.6 pp
−136.1 pp
—
Gallantt Ispat Ltd. · GALLANTT
—
—
—
—
−2.1 pp
—
+0.2 pp
—
−2.5 pp
—
+1.5 pp
—
+5.8 pp
+9.5 pp
+6.0 pp
+2.8 pp
+2.3 pp
−1.3 pp
−2.2 pp
—
Jindal Steel Ltd · JINDALSTEL
—
—
—
—
−12.3 pp
—
−11.5 pp
—
−6.0 pp
—
−1.5 pp
—
−0.9 pp
−2.3 pp
−3.8 pp
−4.3 pp
−3.2 pp
−3.8 pp
+0.2 pp
−1.6 pp
Kalyani Steels Ltd · KSL
—
—
—
—
−11.7 pp
—
−4.8 pp
—
+6.6 pp
—
+3.7 pp
—
−2.4 pp
—
−1.4 pp
—
−1.3 pp
—
−2.0 pp
—
Kamdhenu Ltd · KAMDHENU⚠ unverified
—
—
—
—
—
—
+11.5 pp
—
—
—
−7.5 pp
—
−8.4 pp
—
−2.0 pp
−2.4 pp
+1.9 pp
−1.6 pp
+1.6 pp
—
Prakash Industries Ltd · PRAKASH⚠ unverified
—
—
—
—
+0.5 pp
—
+0.7 pp
—
+1.6 pp
—
+2.6 pp
—
+1.6 pp
+0.3 pp
+0.1 pp
−0.3 pp
−1.0 pp
−1.2 pp
−1.9 pp
—
Raghav Productivity Enhancers Ltd · RPEL
—
—
—
—
+2.8 pp
—
+2.7 pp
—
+1.3 pp
—
−2.1 pp
—
−0.3 pp
+1.9 pp
+2.3 pp
+3.7 pp
+3.3 pp
+4.3 pp
+3.7 pp
+6.5 pp
Rhetan TMT Ltd · RHETAN
—
—
—
—
—
−1.1 pp
−2.5 pp
—
+5.5 pp
—
−1.4 pp
—
−0.8 pp
—
−3.4 pp
+0.7 pp
−8.2 pp
+1.2 pp
+1.0 pp
—
Shyam Metalics & Energy Ltd · SHYAMMETL
—
—
—
—
−13.0 pp
—
−23.1 pp
—
−13.3 pp
—
−4.8 pp
—
+0.4 pp
+1.3 pp
+1.0 pp
0.0 pp
0.0 pp
−1.1 pp
+1.5 pp
+1.9 pp
Steel Exchange India Ltd · STEELXIND⚠ unverified
—
—
—
—
—
—
−0.2 pp
—
−9.0 pp
—
−2.2 pp
—
+2.6 pp
+1.9 pp
+2.8 pp
+3.3 pp
+1.4 pp
−0.9 pp
−0.6 pp
−1.9 pp
Sunflag Iron & Steel Company Ltd · SUNFLAG
—
—
—
—
−6.3 pp
—
−5.6 pp
—
−4.5 pp
—
−4.8 pp
—
−2.1 pp
−2.0 pp
−1.6 pp
−1.2 pp
−0.1 pp
−0.5 pp
+0.6 pp
—
Vardhman Special Steels Ltd · VSSL
—
—
—
—
−2.7 pp
—
−4.7 pp
—
−8.3 pp
—
−2.3 pp
—
+3.7 pp
—
−1.2 pp
−3.9 pp
−9.0 pp
−5.9 pp
−3.6 pp
+2.2 pp
11 · compare level, then change
Valuation Against Growth & Quality
Vardhman Special Steels Ltd has the lowest PEG among the 18 Steel Products companies compared here, at 0.52×. Sunflag Iron & Steel Company Ltd is next at 0.65×. Prakash Industries Ltd has the lowest P/E at 7.05×, so level and change sit with different companies. 8 of 18 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: Vardhman Special Steels Ltd has the lowest comparable PEG at 0.52×, 20% below Sunflag Iron & Steel Company Ltd. Only 8 of 18 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.
LeaderVardhman Special Steels Ltd · 0.52×
Gap20% versus #2 · Sunflag Iron & Steel Company Ltd
Persistence0/8 recent comparable periods
Coverage8/18 companies · 53 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
P/Elowest P/E
Valuation · company comparison
8/18 level · 17/18 change
All-company data · latest reported quarter
| Company | PEG | P/E | Reported |
|---|---|---|---|
| Rhetan TMT Ltd RHETAN | 3.9 | 205.2 | Jun 2026 |
| Raghav Productivity Enhancers Ltd RPEL | 2.3 | 101.0 | Jun 2026 |
| Gallantt Ispat Ltd. GALLANTT | 1.7 | 35.3 | Jun 2026 |
| Shyam Metalics & Energy Ltd SHYAMMETL | 1.2 | 24.7 | Jun 2026 |
| Jindal Steel Ltd JINDALSTEL | 1.1 | 28.9 | Jun 2026 |
| Kalyani Steels Ltd KSL | 1.0 | 13.6 | Jun 2026 |
| Sunflag Iron & Steel Company Ltd SUNFLAG | 0.7 | 29.8 | Jun 2026 |
| Vardhman Special Steels Ltd VSSL | 0.5 | 25.3 | Jun 2026 |
| Asgard Alcobev Ltd 512025 | — | 227.3 | Jun 2026 |
| BMW Industries Ltd 542669 | — | 15.8 | Jun 2026 |
| Prakash Industries Ltd PRAKASH⚠ unverified | — | 7.7 | Jun 2026 |
| Steel Exchange India Ltd STEELXIND⚠ unverified | — | 57.4 | Jun 2026 |
| Electrotherm (India) Ltd ELECTHERM⚠ unverified | — | 18.4 | Jun 2026 |
| Kamdhenu Ltd KAMDHENU⚠ unverified | — | 10.2 | Jun 2026 |
| Salasar Techno Engineering Ltd SALASAR⚠ unverified | — | 61.7 | Jun 2026 |
| Beekay Steel Industries Ltd BEEKAY⚠ unverified | — | 21.2 | Jun 2026 |
| Banganga Paper Industries Ltd BANGANGA | — | 250.7 | Dec 2025 |
| Panchmahal Steel Ltd PANCHMAHQ | — | 166.7 | Jun 2026 |
Full 20-quarter history · every available company
PEG · reported quarter history
Gallantt Ispat Ltd. · GALLANTT
—
—
—
—
0.4
—
0.4
0.2
—
—
—
—
—
—
—
—
0.8
0.5
1.0
1.7
Jindal Steel Ltd · JINDALSTEL
—
—
—
—
0.2
—
—
—
—
—
0.6
—
0.5
1.1
—
—
—
—
—
—
Kalyani Steels Ltd · KSL
—
—
—
0.2
—
—
—
—
—
—
—
—
1.0
—
0.5
1.0
1.7
2.2
1.0
—
Raghav Productivity Enhancers Ltd · RPEL
7.8
7.6
—
—
—
—
1.6
1.2
1.4
3.4
4.8
—
10.2
—
1.8
2.0
3.1
2.8
—
2.3
Rhetan TMT Ltd · RHETAN
—
—
—
—
—
—
—
17.1
—
3.6
—
—
—
—
—
6.5
7.1
20.9
3.9
—
Shyam Metalics & Energy Ltd · SHYAMMETL
—
—
—
—
—
—
—
—
—
—
—
0.9
—
—
—
5.0
—
—
3.1
1.2
Sunflag Iron & Steel Company Ltd · SUNFLAG
—
—
—
—
—
0.2
—
—
0.7
—
2.9
3.2
—
—
—
—
0.7
0.7
—
—
Vardhman Special Steels Ltd · VSSL
—
—
1.0
1.0
0.4
1.8
—
—
—
—
—
—
2.1
0.5
—
—
—
—
—
—
P/E · reported quarter history
Showing the 12 largest of 18 companies with a series here. The remaining 6 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
BMW Industries Ltd · 542669
11.9
11.4
6.8
16.2
19.8
22.7
18.6
11.8
16.5
17.7
20.4
20.9
21.9
17.4
13.9
16.7
14.6
13.5
9.8
15.8
Electrotherm (India) Ltd · ELECTHERM⚠ unverified
—
1.4
2.6
2.5
—
-1.2
-6.0
4.4
1.4
1.6
2.4
3.2
3.1
4.2
3.1
4.8
5.4
6.5
14.6
18.4
Gallantt Ispat Ltd. · GALLANTT
5.0
5.2
4.8
5.2
3.8
3.9
4.0
4.2
14.6
26.0
23.4
38.3
27.9
26.6
24.2
31.7
35.0
25.4
27.3
35.3
Jindal Steel Ltd · JINDALSTEL
7.0
5.6
9.1
6.1
6.5
11.6
12.7
16.6
18.6
17.6
15.6
17.9
18.8
18.6
22.8
26.1
27.5
28.0
40.5
28.9
Kalyani Steels Ltd · KSL
6.7
5.2
5.5
4.9
5.4
6.5
5.3
6.4
9.6
8.7
15.3
16.7
15.2
20.3
13.5
15.9
12.8
12.2
9.9
13.6
Prakash Industries Ltd · PRAKASH⚠ unverified
8.9
5.8
7.4
5.3
5.4
5.7
4.9
7.2
10.8
10.6
9.4
9.5
9.2
8.1
8.1
8.2
8.5
7.5
6.3
7.7
Raghav Productivity Enhancers Ltd · RPEL
90.8
88.8
36.7
30.0
31.1
46.9
38.7
45.6
43.2
65.2
53.7
67.5
87.6
104.2
69.3
86.2
82.4
121.1
76.2
101.0
Rhetan TMT Ltd · RHETAN
—
—
—
—
49.6
237.8
296.0
200.0
137.9
142.9
119.3
373.8
377.5
386.8
243.4
324.5
354.8
347.9
225.0
205.2
Shyam Metalics & Energy Ltd · SHYAMMETL
10.4
5.7
5.5
4.2
4.3
5.8
6.5
10.7
17.5
15.8
14.1
16.9
21.6
24.6
26.3
26.3
27.4
23.5
22.2
24.7
Steel Exchange India Ltd · STEELXIND⚠ unverified
—
46.1
18.1
12.2
8.2
—
—
—
—
-24.2
152.0
92.4
60.9
29.9
35.9
36.2
36.2
61.7
32.7
57.4
Sunflag Iron & Steel Company Ltd · SUNFLAG
6.3
4.8
4.7
6.6
8.2
9.7
11.8
12.9
16.3
23.0
23.9
26.8
30.0
31.4
26.1
33.3
23.5
23.7
16.8
29.8
Vardhman Special Steels Ltd · VSSL
11.5
10.2
10.3
8.7
9.5
11.6
13.9
15.2
18.8
22.4
23.8
27.8
24.4
17.8
15.3
23.1
24.1
25.1
19.6
25.3
12 · before the conclusion, check the blind spots
What can make this comparison misleading?
This Steel Products comparison names 6 specific ways its own evidence can mislead, all listed below. 1 of the 18 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 6 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.
- 6 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.
13 · evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 18 Steel Products 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 2026-09-11. 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 2026-09-11 · 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 standing8 cross-checked · 10 unverified · 0 withheld, of 18 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.
14 · questions investors ask, short speakable answers
Steel Products company comparison FAQs
These 24 answers restate the Steel Products comparison above in question form. Every one is computed from the same 18 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-11. Nothing here is estimated, and none of it is a recommendation.
Is the Steel Products sector outperforming NIFTY 500?
Steel Products has outperformed NIFTY 500 by 24% over 52 weeks and 5.4% over 13 weeks. 11 of 18 covered companies beat NIFTY on Mansfield relative strength, while 8 of 18 beat the sector itself.
Which Steel Products company is largest by revenue?
Jindal Steel Ltd leads with revenue of ₹56,413 crore, based on 18 of 18 comparable companies through Jun 2026.
Which Steel Products company is growing fastest?
Banganga Paper Industries Ltd has the fastest current revenue growth at 100%, across 18 of 18 comparable companies.
Which Steel Products company has the strongest 4-Factor Sector Score?
Raghav Productivity Enhancers Ltd ranks first at 75.5/100 with 100% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Steel Products company has the lowest comparable PEG?
Vardhman Special Steels Ltd has the lowest comparable PEG at 0.52, among 8 of 18 companies whose earnings and growth are steady enough for the ratio to mean anything.
How much history does this Steel Products 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 Products 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 Products, this page builds its own equal-weight basket of 18 listed Steel Products 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 Products stocks in India?
Ranked by this page's four-factor score, Raghav Productivity Enhancers Ltd places first among 18 listed Steel Products companies, followed by Vardhman Special Steels 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 Products stocks are listed in India?
This comparison covers 18 listed Steel Products 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 Products company is the biggest?
Jindal Steel Ltd is the largest, with trailing-twelve-month revenue of ₹56,413 crore, ahead of Shyam Metalics & Energy Ltd at ₹19,583 crore. That covers 18 of 18 companies with comparable reporting through Jun 2026.
Which Steel Products company has the best profit margins?
Raghav Productivity Enhancers Ltd has the highest operating margin at 30%, from 18 of 18 comparable companies. Panchmahal Steel Ltd shows the biggest recent improvement, at +8.9 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Steel Products company makes the most profit?
Jindal Steel Ltd earns the most, at ₹2,709 crore of trailing-twelve-month net profit, from 18 of 18 comparable companies. Banganga Paper Industries Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.
Which Steel Products company earns the highest return on capital?
Raghav Productivity Enhancers Ltd leads on return on capital employed at 30.3%, across 18 of 18 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 Products stock is the cheapest?
On PEG — where a LOWER number is cheaper — Vardhman Special Steels Ltd screens cheapest at 0.52×. Only 8 of 18 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 Products sector beating the market?
Steel Products has outperformed NIFTY 500 by 24% over the last 52 weeks and 5.4% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 11 of 18 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Steel Products stock has the strongest price momentum?
Raghav Productivity Enhancers 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 Products company scores highest for research priority?
Raghav Productivity Enhancers Ltd scores 75.5 out of 100 with 100% evidence confidence, from 32 points on growth and earnings, 19.5 on capital efficiency, 4 on valuation and 20 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 Products companies does this comparison cover, and over what period?
It compares 18 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 Products sector?
The 18 Steel Products companies on this page carry ₹1,93,276 crore of combined market value. Jindal Steel Ltd is the largest at ₹1,14,301 crore, about 59% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-17.
What is the Steel Products sector's P/E ratio?
The median price-to-earnings ratio across the 18 Steel Products companies on this page is 30.2×, measured on the 17 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 2026-09-17.
How is the Steel Products sector performing?
11 of the 18 covered Steel Products companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 24% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-17.
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.
Not SEBI Registered !! Not Investment advice !!