Synopsis: India’s major steel companies delivered stronger earnings growth in FY26, supported by improving margins and operational efficiency. Profitability outpaced revenue growth, with select players emerging as clear sector leaders.
India’s steel industry maintained strong momentum in FY26, supported by rising infrastructure spending, urbanisation and manufacturing activity. The country’s finished steel consumption grew about 7 percent to 164 million tonnes, while crude steel production increased 10.7 percent to 168.4 million tonnes.
Exports surged nearly 36 percent , helping India regain its position as a net steel exporter. With domestic steelmaking capacity reaching around 220 million tonnes and targeted to touch 300 million tonnes by 2030, the sector continues to benefit from robust demand and sustained investment in capacity expansion and technology upgrades.
JSW Steel Ltd
JSW Steel Ltd is one of India’s largest integrated steel producers and a flagship company of the JSW Group. The company manufactures a wide range of flat and long steel products for infrastructure, automotive, construction and engineering sectors. It has a significant domestic and international presence, with operations spanning steel manufacturing, mining and value-added steel solutions.
With the market capitalization of Rs. 3,13,836 Crores, the shares of JSW Steel Ltd were trading at around Rs. 1,283 per share which is 3.3 percent discount from its 52 weeks high of Rs. 1,328 per share and is trading at a P/E of 34.5 whereas industry P/E stands at 19.5
Revenue from operations has increased from Rs. 168,824 Crores to Rs. 185,470 Crores, up 10 percent. Operating profit has increased from Rs. 22,725 Crores to Rs. 29,346 Crores, up 29 percent. Operating profit margin stood at 16 percent in FY26 whereas OPM during FY25 stood at 13 percent and net profit has increased from Rs. 3491 Crores to Rs. 25,508 Crores, up 630 percent . The drastic jump in net profit is due to gain from exceptional items and other income of Rs.18,607 Crores
Tata Steel
Tata Steel Ltd is among the world’s leading steel producers and a part of the Tata Group. The company manufactures a diverse range of steel products catering to automotive, construction, engineering, packaging and consumer sectors. With manufacturing facilities in India, Europe and Southeast Asia, Tata Steel has a strong global footprint and focuses on sustainable steelmaking, innovation and value-added products.
With the market capitalization of Rs. 258,184 Crores, the shares of Tata Steel Ltd were trading at around Rs. 207 per share which is 7.5 percent discount from its 52 weeks high of Rs. 224 per share and is trading at a P/E of 22.5 whereas industry P/E stands at 19.5
Revenue from operations has increased from Rs. 218,543 Crores to Rs. 232,140 Crores, up 6 percent. Operating profit has increased from Rs. 25,298 Crores to Rs. 34,352 Crores, up 35 percent.Operating profit margin in FY26 stood at 15 percent whereas OPM during FY25 stood at 12 percent and net profit has increased from Rs. 3,174 Crores to Rs. 10,886 Crores, up 242 percent
Steel Authority of India Ltd
Steel Authority of India Limited is one of India’s largest state-owned steel producers and a key supplier to the country’s infrastructure and industrial sectors. The company operates multiple integrated steel plants and produces a wide range of flat and long steel products. SAIL serves industries such as construction, railways, defence, engineering and power, and plays a significant role in India’s steel capacity expansion and self-reliance initiatives.
With the market capitalization of Rs. 78,790 Crores, the shares of Steel Authority of India Ltd were trading around at Rs. 190 per share which is 9.5 percent discount from its 52 week high of Rs. 210 per share and is trading at a P/E of 20.6 whereas industry P/E stands at 19.5
Revenue from operations has increased from Rs. 102,479 Crores to Rs. 110,811 Crores, up 8 percent. Operating profit has increased from Rs. 10,690 Crores to Rs. 12,000 Crores, up 12 percent. Operating profit margin in FY26 stood at 11 percent whereas OPM during FY25 stood at 10 percent and net profit has increased from Rs. 2,372 Crores to Rs. 3,373 Crores, up 42 percent.
Jindal Stainless Ltd
Jindal Stainless Limited is India’s largest stainless steel producer and a leading manufacturer of stainless steel flat products. The company serves diverse sectors including automotive, railways, architecture, infrastructure, consumer goods and process industries. With advanced manufacturing facilities and a strong export presence, Jindal Stainless focuses on value-added products, sustainability initiatives and expanding its footprint in domestic and international stainless steel markets.
With the market capitalization of Rs. 57,095 Crores, the shares of Jindal Stainless Ltd were trading at around Rs. 692 per share which is 21 percent discount from its 52 weeks high of Rs. 884 per share and is trading at a P/E of 17.6 where as industry P/E stands at 19.1
Revenue from operations has increased from Rs. 39,312 Crores to Rs. 42,955 Crores, up 9.2 percent. Operating profit has increased from Rs. 4,469 Crores to Rs. 5,560 crores, up 24 percent. Operating profit margin in FY26 stood at 13 percent whereas OPM during FY25 stood at 11 percent and net profit has increased from Rs. 2500 Crores to Rs. 3185 Crores, up 27 percent.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
