Sector
Metals & Mining sector explained
Companies that mine iron ore and other minerals, and make steel, aluminium, copper, zinc and alloys. Coal miners are grouped under Oil, Gas & Consumable Fuels by NSE.
Companies we cover
1 company in Metals & Mining
Kalyani Steels makes special steel bars that forging companies shape into vehicle and machine parts, earning ₹1,846 crore in FY26.
Data depth: StandardCovers Q1 FY27
How companies in this sector earn
How do Metals & Mining companies make money?
- Metal makers earn the price per tonne of metal sold, minus the cost of raw materials, power and conversion.
- Steel makers' biggest costs are iron ore and coking coal, and India imports much of its coking coal.
- Aluminium smelting uses a lot of electricity, so power cost decides much of the margin.
- Metal prices follow global markets, so profits rise and fall with world demand and supply.
- Miners pay royalties to state governments on what they extract and earn the market price of the ore.
Who regulates it
Ministry of Steel · Ministry of Mines · Indian Bureau of Mines (IBM) · State governments, which grant mining leases and collect royalties
What moves results across the sector
- Prices of iron ore and coking coal, and international steel and aluminium prices.
- Steel imports into India and any duties placed on them.
- Power costs, especially for aluminium smelters.
Words you'll meet
Key terms
- Realisation per tonne
- The average price a company receives for each tonne of metal sold.
- Coking coal
- Coal used to make coke, which a blast furnace needs to turn iron ore into iron.
- Blast furnace
- A large furnace that turns iron ore into liquid iron using coke and hot air.
- Crude steel
- Steel in its first solid form, before it is rolled into sheets, bars or pipes.
- Capacity utilisation
- Metal actually produced as a share of what the plants could produce.
Key facts
Metals & Mining in numbers
- How much steel does India make?
- India produced 170.15 million tonnes of crude steel in FY26 (2025-26), against 152.18 million tonnes in FY25, per the Ministry of Steel, citing Joint Plant Committee data. (Source: Ministry of Steel, Government of India)
- How much steel can India's plants make in a year?
- India's crude steel capacity was 220.4 million tonnes in FY26 (2025-26), per the Ministry of Steel. (Source: Ministry of Steel, Government of India)
- Where does India rank in world steel production?
- India was the world's second-largest crude steel producer in calendar year 2025, making 164.9 million tonnes against China's 960.8 million tonnes, per the Ministry of Steel, citing provisional World Steel Association data. (Source: Ministry of Steel, Government of India)
Sources
- An Overview of Steel Sector, July 2026, Ministry of Steel, Government of India, 12 Aug 2026
Last updated 25 Oct 2026.
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