# Steel Exchange India share price today (Steel Exchange India Ltd, NSE: STEELXIND)

> Steel Exchange India share price today: ₹10.70 at the NSE close on 3 November 2026, up 9.4% in a year. Steel Exchange India (NSE: STEELXIND) is worth ₹1,365 crore, trades at a P/E of 42.9 and has closed between ₹7.40 and ₹13.36 over the past 52 weeks. > Steel Exchange India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. STEELXIND · Steel Products · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/steel-exchange-india-ltd

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## Key numbers

- Price: ₹10.70 (+9.4% in a year)
- P/E: 42.9× (higher than 71% of the last 11 years)
- Revenue (Jun 2026): ₹270 Cr (−10.0% on a year ago)
- Profit (Jun 2026): ₹15.0 Cr (+50.0% on a year ago)
- Operating margin: 13.0% (+3.0 points on a year ago)
- ROCE: 9%, FY26
- ROIC: 6.3%, against a 12.0% cost of capital: −5.7 points
- Profit that came in as cash: 17%, last 3 years

The main question: profits are rising, but only 17% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Steel Exchange India share price today? Steel Exchange India Ltd's share price was ₹10.70 at the close on 3 November 2026. It has been rising for 24 weeks. That is 1.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹7 and ₹13, and at that close it sat 55% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row. Over the last 11 years the share price moved +194% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Steel Exchange India this quarter? Three changes stood out: indian funds and insurers (DIIs) cut their stake for 3 quarters in a row, revenue down on a year earlier for 4 quarters in a row and operating margin up 3 points on a year earlier. 1. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row From 2.6% to 1% of the company by the September 2026 quarter. 2. Revenue down on a year earlier for 4 quarters in a row In the June 2026 quarter revenue was ₹270 crore, -10% on a year earlier. 3. Operating margin up 3 points on a year earlier 13% in the June 2026 quarter, from 10%. Why: Margins rose because finished steel prices rose faster than raw material costs during a supply squeeze. Next results: check whether the new output turns into steady quarterly sales and profit per ton. From the earnings call on 30 Sep 2026. ## What are Steel Exchange India's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Steel Exchange India reported revenue of ₹270 crore, down 10.0% from ₹300 crore a year earlier, and a profit of ₹15.0 crore, up 50.0% from ₹10.0 crore. ### Steel Exchange India results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹270 crore | ₹300 crore | −10.0% |
| Profit | ₹15.0 crore | ₹10.0 crore | +50.0% |
| Earnings per share | ₹0.12 | ₹0.09 | +33.3% |
| Operating margin | 13.0% | 10.0% | +3.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Steel Exchange India's management discussed these results on a call held on 30 September 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Steel Exchange India share price history? Steel Exchange India closed at ₹10.70 on 3 November 2026, up 9.4% from ₹9.78 a year earlier (31 October 2025) and up 16.4% over five years. Its highest weekly close since March 2016 was ₹25.43 on 8 April 2022. ### Steel Exchange India share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹9.57 | +11.8% |
| 1 month ago · 1 Oct 2026 | ₹11.22 | −4.6% |
| 6 months ago · 30 Apr 2026 | ₹10.01 | +6.9% |
| 1 year ago · 31 Oct 2025 | ₹9.78 | +9.4% |
| 3 years ago · 3 Nov 2023 | ₹8.67 | +23.4% |
| 5 years ago · 4 Nov 2021 | ₹9.19 | +16.4% |
| 10 years ago · 4 Nov 2016 | ₹7.87 | +36.0% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹3.64 | +194.0% |
| Highest weekly close since March 2016 · 8 Apr 2022 | ₹25.43 | −57.9% |
| Lowest weekly close since March 2016 · 19 Jul 2019 | ₹0.99 | +980.8% |
| 52-week high (weekly close) · 19 Jun 2026 | ₹13.36 | −19.9% |
| 52-week low (weekly close) · 20 Mar 2026 | ₹7.40 | +44.6% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Steel Exchange India? 3 Nov 2026: Steel Exchange India closed at ₹10.70, up 11.8% on the week and down 4.6% on the month. 30 Sep 2026: Steel Exchange India held its results call for April to June 2026. Management guided: Capacity expansion from 0.5 million tons to 1.5 million tons across three phases; approvals expected within 15 days to 1 month, with phase completion planned end-2027, March 2029 and end-2030. ### Earlier

- Results for April to June 2026: Revenue down 10.0% and profit up 50.0% on a year earlier. ## What dividend does Steel Exchange India pay? Steel Exchange India has paid no dividend on the NSE since 1 April 2021, the start of the period we checked. Not in its latest year. Steel Exchange India Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 1 of its last 14 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Steel Exchange India management say on the latest results call? On the call for April to June 2026, held on 30 September 2026, Steel Exchange India's management guided: Capacity expansion from 0.5 million tons to 1.5 million tons across three phases; approvals expected within 15 days to 1 month, with phase completion planned end-2027, March 2029 and end-2030. > “We have recently applied to the government for the expansion of our existing capacity from 0.5 million tons to 1.5 million tons by adding another 1 million tons of capacity.”
> Mohit Bandi, on the call for April to June 2026

### What management guided

- initial rolling-mill capital spending to be funded by internal accruals, shareholder capital and government incentives, with later phases gated by profitability. - FY27 TMT production around 3 lakh tons, including 250,000-260,000 tons in the six-month period discussed; operating profit per ton around ₹7,000 and demand/margins expected strong through Q1. - Turnover planned at ₹1,300-1,500 crore over six months and above ₹5,000 crore in three years; operating margin up 3-5% and green-steel margin uplift at least 2%. - Operating cycle planned near 120 days initially and 60-90 days over two years; outside-Andhra sales planned at 20-30% initially and 50% over two years. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4829-30-Sep-2026.pdf). (From the call for April to June 2026, 30 September 2026.)

## What to watch in Steel Exchange India's next results? When Steel Exchange India reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Phase-one government approvals and incentive package - check final GO, terms and rolling-mill execution timetable. - What to check (from the call)
- Phase-one government approvals and incentive package - check final GO, terms and rolling-mill execution timetable. - RHF-led volume ramp - check whether post-commissioning output converts into sustained quarterly sales and operating profit per ton. - Working-capital repair - check whether collections and inventory continue lowering the operating cycle. - Warrant conversion and refinancing progress - check proceeds and borrowing-rate outcome after the rating upgrade. ## Which stock lists is Steel Exchange India on? Steel Exchange India is on 2 of our India lists: Penny stocks and Copper & metal stocks. - [Penny stocks Earnings growth, 12 months (%): -7.14](https://www.sectoralpha.in/penny-stocks-india)
- [Copper & metal stocks Group on the list: Steel, stainless steel and ferro alloys](https://www.sectoralpha.in/copper-stocks-india)

## Is Steel Exchange India profitable? Steel Exchange India Ltd earned ₹15.0 Cr of net profit in the Jun 2026 quarter, +50.0% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹27.0 Cr. Over 10 years profit has grown 14.5% a year on average. That is 5.6% of the quarter's revenue. The same quarter a year earlier earned ₹10.0 Cr. 1 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹27.0 Cr (+3.8% on the year before). Why profit moved: revenue changed −10.0% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +17.3% and revenue −12.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Steel Exchange India make, and is it growing? Steel Exchange India Ltd reported ₹270 Cr of revenue in the Jun 2026 quarter, −10.0% on the same quarter a year earlier. Over 10 years it has grown −4.4% a year on average. The last full year, FY26, came in at ₹1,054 Cr. The last four reported quarters add to ₹1,029 Cr. FY26 revenue was ₹1,054 Cr, −7.5% on the year before. Recent pace: the last four quarters grew −12.3% on average, against −4.4% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −12.8%, against −3.3% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −8.8%, against +27.7% a year (rolling over). ## How much of every ₹100 of sales does Steel Exchange India keep? Steel Exchange India Ltd's operating margin was 13.0% in the Jun 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 14 years it has been between −1.2% and 15.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +2.2 percentage points on the year while gross margin changed +3.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Steel Exchange India's profit turning into cash? Over the last 3 years, 17% of Steel Exchange India Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 its operations used ₹38.0 Cr of cash, against ₹27.0 Cr of profit. After ₹8.0 Cr of spending on assets, free cash was −₹46.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 17% of profit came in as cash: the cash cycle got 136 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 136 days longer. The next section looks at where the cash is stuck. ## Where does Steel Exchange India's cash go? Steel Exchange India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 210 days in FY26, up from 74 days in FY21. It spent ₹77.0 Cr on assets over the last 3 years. Customers take 77 days to pay, and stock sits for 183 days on average. At FY26 sales of ₹1,054 Cr, each day of that cycle ties up about ₹2.9 Cr, so roughly ₹606 Cr is tied up in the business at any time. FY26: customers took 77 days to pay and stock sat for 183 days, about 6.0 months of sales sitting as stock, for a full cycle of 210 days, longer than FY21's 74. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 183 days. Customers pay about 77 days after that. Suppliers are paid at 49 days. Together that makes the 210-day cycle. Spending on assets: ₹77.0 Cr over the last 3 years, against ₹73.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹6.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Steel Exchange India's P/E ratio, and how does it compare with its own history? Steel Exchange India Ltd's P/E is 42.9×, near the high end of its own history: higher than 71% of past readings. Its usual P/E (the middle reading) is 23.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹0.26. Why the multiple is where it is: over the past year earnings per share moved +0.0% while the price moved +9.4%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +3.1% a year; about −25.1% a year came from earnings growth and about +28.2 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Steel Exchange India business getting better or worse? Steel Exchange India Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 3 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Steel Exchange India earn on its capital? Steel Exchange India Ltd earned a ROCE of 9% in FY26. That is up from a low of −3% in FY18. Its return on capital used (ROIC) is 5.7 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 2.6% net margin and 0.77× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 2.6% net margin × 0.77× asset turnover × 1.79× leverage (assets divided by equity) ≈ 3.6% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 6.3% − 12.0% = −5.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Steel Exchange India have too much debt? Steel Exchange India Ltd has total debt of ₹418 Cr against shareholder equity of ₹768 Cr as of Jun 2026, so its debt is 0.54× its equity. Year by year, that ratio went from 0.93 in FY22 to 0.57 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Steel Exchange India shareholding pattern? Promoters cut their stake in Steel Exchange India Ltd by 3.2 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 49.7% of the company. Foreign institutions moved −0.2 points over the same period, to 0.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −3.2 points over 8 quarters, to 49.7%; Foreign institutions: −0.2 points over 8 quarters, to 0.5%; Domestic institutions: −0.2 points over 8 quarters, to 1.0%. Why the owners changed: promoters drove it (−3.2 points). They reduced their stake. ## How far is Steel Exchange India from balance-sheet trouble? For Steel Exchange India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Steel Exchange India rank in its industry? 39.7 out of 100, rank 11 of 16 in Steel Products, with 89% of the evidence available. Steel Exchange India Ltd scores 39.7 out of 100 against the 16 companies it is compared with in Steel Products, ranking 11. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 12.2 + 7.6 + 12.3 + 7.6 = 39.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Steel Exchange India compared with? Steel Exchange India ranks 11 of 16 Steel Products companies on the 4-Factor Sector Score, with 39.7 out of 100. 1. [Kamdhenu Ltd](https://www.sectoralpha.in/stocks/kamdhenu-ltd) KAMDHENU · turning · Most evidence points up · 100% evidence 77.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.6/35 · Revenue 5.9% · Profit 31.9% · Operating margin change 1 points · 100% evidence Capital efficiency 20.0/25 · ROCE 29.5% · Operating margin 13% · 100% evidence Valuation 17.1/20 · P/E 10.9× · PEG 0.47 · 100% evidence Relative strength 17.6/20 · Lead over its industry 27.7% · Lead over NIFTY 500 31% · 1 year 26.7% · 100% evidence · 11 of 12 weeks ahead Exact sum: 22.6 + 20 + 17.1 + 17.6 = 77.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Vardhman Special Steels Ltd](https://www.sectoralpha.in/stocks/vardhman-special-steels-ltd) VSSL · leader · Most evidence points up · 100% evidence 75.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 14.8% · Profit 67.7% · Operating margin change 2 points · 100% evidence Capital efficiency 14.8/25 · ROCE 15.3% · Operating margin 12% · 100% evidence Valuation 14.2/20 · P/E 19.7× · PEG 0.84 · 100% evidence Relative strength 17.0/20 · Lead over its industry 13.2% · Lead over NIFTY 500 16.9% · 1 year 14.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.1 + 14.8 + 14.2 + 17 = 75.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Shyam Metalics & Energy Ltd](https://www.sectoralpha.in/stocks/shyam-metalics-energy-ltd) SHYAMMETL · leader · Most evidence points up · 100% evidence 73.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.6/35 · Revenue 25.6% · Profit 41.7% · Operating margin change 2 points · 100% evidence Capital efficiency 17.4/25 · ROCE 13% · Operating margin 14% · 100% evidence Valuation 8.6/20 · P/E 24× · PEG 1.25 · 100% evidence Relative strength 18.7/20 · Lead over its industry 27.4% · Lead over NIFTY 500 31.7% · 1 year 32.5% · 100% evidence · 11 of 12 weeks ahead Exact sum: 28.6 + 17.4 + 8.6 + 18.7 = 73.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Kalyani Steels Ltd](https://www.sectoralpha.in/stocks/kalyani-steels-ltd) KSL · losing its lead · Evidence leans up · 100% evidence 60.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.6/35 · Revenue -1.1% · Profit 8.1% · Operating margin change 3 points · 100% evidence Capital efficiency 17.4/25 · ROCE 14.8% · Operating margin 22% · 100% evidence Valuation 11.6/20 · P/E 12.5× · PEG 1 · 100% evidence Relative strength 12.9/20 · Lead over its industry 3.7% · Lead over NIFTY 500 7.2% · 1 year -4.9% · 100% evidence · 6 of 12 weeks ahead Exact sum: 18.6 + 17.4 + 11.6 + 12.9 = 60.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [BMW Industries Ltd](https://www.sectoralpha.in/stocks/bmw-industries-ltd) turning · Evidence leans up · 83% evidence 57.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.9/35 · Revenue 5.9% · Profit 8% · Operating margin change -1 points · 83% evidence Capital efficiency 13.2/25 · ROCE 11.9% · Operating margin 20% · 95% evidence Valuation 12.9/20 · P/E 12.7× · PEG n/a · 50% evidence Relative strength 15.9/20 · Lead over its industry 7.5% · Lead over NIFTY 500 10.3% · 1 year 9% · 100% evidence · 1 of 12 weeks ahead Exact sum: 15.9 + 13.2 + 12.9 + 15.9 = 57.9 · What this means: Relative strength against the index is 10.3%, and revenue and profit growth are weak. 6. [Sunflag Iron & Steel Company Ltd](https://www.sectoralpha.in/stocks/sunflag-iron-steel-company-ltd) SUNFLAG · breaking out · Evidence leans up · 96% evidence 56.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 9% · Profit 4.6% · Operating margin change -1 points · 88% evidence Capital efficiency 9.6/25 · ROCE 4.1% · Operating margin 11% · 100% evidence Valuation 10.3/20 · P/E 33.2× · PEG 0.65 · 100% evidence Relative strength 19.6/20 · Lead over its industry 29% · Lead over NIFTY 500 32.1% · 1 year 46.3% · 100% evidence · 6 of 12 weeks ahead Exact sum: 16.7 + 9.6 + 10.3 + 19.6 = 56.2 · What this means: Relative strength against the index is 32.1%, and revenue and profit growth are weak. 7. [Panchmahal Steel Ltd](https://www.sectoralpha.in/stocks/panchmahal-steel-ltd) PANCHMAHQ · losing its lead · Evidence leans down · 78% evidence 49.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.9/35 · Revenue 10.6% · Profit 100% · Operating margin change 4.9 points · 100% evidence Capital efficiency 7.0/25 · ROCE 3.1% · Operating margin 8.3% · 100% evidence Valuation 3.9/20 · P/E 65.4× · PEG 7.04 · 65% evidence Relative strength 9.8/20 · Lead over its industry n/a · Lead over NIFTY 500 0.3% · 1 year -1.2% · 25% evidence · 2 of 5 weeks ahead Exact sum: 28.9 + 7 + 3.9 + 9.8 = 49.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Prakash Industries Ltd](https://www.sectoralpha.in/stocks/prakash-industries-ltd) PRAKASH · basing · Evidence leans down · 96% evidence 49.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.3/35 · Revenue -10.6% · Profit -12.1% · Operating margin change 1 points · 88% evidence Capital efficiency 12.1/25 · ROCE 9.6% · Operating margin 14% · 100% evidence Valuation 19.1/20 · P/E 6.4× · PEG 0.19 · 100% evidence Relative strength 6.0/20 · Lead over its industry -14.4% · Lead over NIFTY 500 -10.7% · 1 year -31.6% · 100% evidence · 1 of 12 weeks ahead Exact sum: 12.3 + 12.1 + 19.1 + 6 = 49.5 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 9. [Beekay Steel Industries Ltd](https://www.sectoralpha.in/stocks/beekay-steel-industries-ltd) BEEKAY · breaking out · Evidence leans down · 81% evidence 48.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.5/35 · Revenue 13.9% · Profit -51.1% · Operating margin change 5 points · 88% evidence Capital efficiency 7.7/25 · ROCE 4.2% · Operating margin 11% · 100% evidence Valuation 13.7/20 · P/E 18.1× · PEG 0.45 · 100% evidence Relative strength 11.1/20 · Lead over its industry n/a · Lead over NIFTY 500 5.8% · 1 year -11.5% · 25% evidence · 10 of 12 weeks ahead Exact sum: 15.5 + 7.7 + 13.7 + 11.1 = 48 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 10. [Jindal Steel Ltd](https://www.sectoralpha.in/stocks/jindal-steel-ltd) JINDALSTEL · losing its lead · Evidence leans down · 100% evidence 45.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/35 · Revenue 25.5% · Profit 2.4% · Operating margin change -3 points · 100% evidence Capital efficiency 13.3/25 · ROCE 9.7% · Operating margin 15% · 100% evidence Valuation 10.4/20 · P/E 33.6× · PEG 1.09 · 100% evidence Relative strength 8.0/20 · Lead over its industry -4.7% · Lead over NIFTY 500 -0.6% · 1 year -0.5% · 100% evidence · 3 of 12 weeks ahead Exact sum: 13.9 + 13.3 + 10.4 + 8 = 45.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. Steel Exchange India Ltd this page STEELXIND · quiet · Evidence leans down · 89% evidence 39.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.2/35 · Revenue -12.8% · Profit -8.8% · Operating margin change 3 points · 88% evidence Capital efficiency 7.6/25 · ROCE 9.3% · Operating margin 13% · 100% evidence Valuation 12.3/20 · P/E 38.4× · PEG 0.85 · 65% evidence Relative strength 7.6/20 · Lead over its industry -1% · Lead over NIFTY 500 1.8% · 1 year -1.5% · 100% evidence · 1 of 12 weeks ahead Exact sum: 12.2 + 7.6 + 12.3 + 7.6 = 39.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 12. [Gallantt Ispat Ltd.](https://www.sectoralpha.in/stocks/gallantt-ispat-ltd) GALLANTT · quiet · Evidence leans down · 100% evidence 37.9 out of 100 Growth Capital Valuation Relative
13. [Rhetan TMT Ltd](https://www.sectoralpha.in/stocks/rhetan-tmt-ltd) RHETAN · quiet · Most evidence points down · 89% evidence 34.5 out of 100 Growth Capital Valuation Relative
14. [Electrotherm (India) Ltd](https://www.sectoralpha.in/stocks/electrotherm-indialtd) ELECTHERM · quiet · Most evidence points down · 61% evidence 22.2 out of 100 Growth Capital Valuation Relative
15. [Salasar Techno Engineering Ltd](https://www.sectoralpha.in/stocks/salasar-techno-engineering-ltd) SALASAR · basing · Most evidence points down · 96% evidence 20.4 out of 100 Growth Capital Valuation Relative
16. [Banganga Paper Industries Ltd](https://www.sectoralpha.in/stocks/banganga-paper-industries-ltd) BANGANGA · Too little evidence to rank firmly · 29% evidence 52.5 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Steel Products](https://www.sectoralpha.in/sectors/steel-products), all 16 compared on one page. ## Which companies are close to Steel Exchange India in size? Steel Exchange India is the 8th largest of 16 Steel Products companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Kalyani Steels, Vardhman Special Steels and Prakash Industries. Just below it: BMW Industries, Rhetan TMT and Kamdhenu. ### Steel Products companies close in size

1. [Kalyani Steels Ltd](https://www.sectoralpha.in/stocks/kalyani-steels-ltd) ₹3,592 crore
2. [Vardhman Special Steels Ltd](https://www.sectoralpha.in/stocks/vardhman-special-steels-ltd) ₹3,178 crore
3. [Prakash Industries Ltd](https://www.sectoralpha.in/stocks/prakash-industries-ltd) ₹2,011 crore
4. Steel Exchange India Ltd ₹1,221 crore
5. [BMW Industries Ltd](https://www.sectoralpha.in/stocks/bmw-industries-ltd) ₹1,079 crore
6. [Rhetan TMT Ltd](https://www.sectoralpha.in/stocks/rhetan-tmt-ltd) ₹1,068 crore
7. [Kamdhenu Ltd](https://www.sectoralpha.in/stocks/kamdhenu-ltd) ₹988 crore

[All 16 Steel Products companies, largest first](https://www.sectoralpha.in/sectors/steel-products#all-companies)

### Companies close in size in other industries

1. [Walchandnagar Industries Ltd](https://www.sectoralpha.in/stocks/walchandnagar-industries-ltd) ₹1,225 crore · Capital Goods - Engineering Heavy
2. [Belding India Ltd](https://www.sectoralpha.in/stocks/belding-india-ltd) ₹1,221 crore · Aluminium
3. Steel Exchange India Ltd ₹1,221 crore
4. [Astec Lifesciences Ltd](https://www.sectoralpha.in/stocks/astec-lifesciences-ltd) ₹1,216 crore · Pesticides/Agrochemicals
5. [Platinum Industries Ltd](https://www.sectoralpha.in/stocks/platinum-industries-ltd) ₹1,215 crore · Speciality Chemicals

## What else do people ask about Steel Exchange India? ### What is Steel Exchange India's share price today? Steel Exchange India Ltd's share price is ₹10.70, +9.4% over the past year. The whole company is worth ₹1,365 Cr on the market. In the last 52 weeks it traded between ₹7 to ₹13; today it is 55% of the way up from the low, 1.8% above its 200-day average (as of 3 November 2026). ### What were Steel Exchange India's latest quarterly results? Steel Exchange India Ltd reported revenue of ₹270 Cr and net profit of ₹15.0 Cr for the Jun 2026 quarter. Revenue fell 10.0% and profit rose 50.0% compared with a year earlier. Earnings per share were ₹0.12. The operating margin was 13.0%, 3.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Steel Exchange India's market cap? Steel Exchange India Ltd's market capitalisation is ₹1,365 Cr at a share price of ₹10.70. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Steel Exchange India performing? Steel Exchange India Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue fell 10.0% and profit rose 50.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will Steel Exchange India's share price go up? This page does not forecast Steel Exchange India Ltd's share price. What it shows instead: the share price is ₹10.70, and it has been rising for 24 weeks. Its P/E of 42.9× is higher than 71% of its own last 11 years (as of 3 November 2026). ### Who owns Steel Exchange India? Promoters own 49.7% of Steel Exchange India Ltd, foreign institutions 0.5%, domestic institutions 1.0% and the public 48.5% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 3.2 percentage points over 8 quarters (as of 3 November 2026). ### Where is Steel Exchange India in its business cycle? Steel Exchange India Ltd's FY26 operating margin was 12.0%, against a 14-year range of −1.2% to 15.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 13.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Steel Exchange India story? The main question: profits are rising, but only 17% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Steel Exchange India a stock worth studying right now? What the numbers show: Steel Exchange India Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Steel Exchange India share price forecast for 2026? What management itself guided: Capacity expansion from 0.5 million tons to 1.5 million tons across three phases; approvals expected within 15 days to 1 month, with phase completion planned end-2027, March 2029 and end-2030. ## Lists

- Penny stocks: https://www.sectoralpha.in/penny-stocks-india
- Copper & metal stocks: https://www.sectoralpha.in/copper-stocks-india

This is research, not advice. We’re not SEBI-registered.