3 Structural Steel Tubes, Largest Iron Ore Miner and Integrated Steel and Ferro Alloys Stocks With a Strong Future Roadmap: APL Apollo Tubes, NMDC and Sarda Energy
- October 23, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
APL Apollo Tubes, NMDC and Sarda Energy: ROE of 15.0% to 22.7% and FY22 to FY26 revenue CAGR of 5.9% to 15.3%. Prices as of 22 Oct 2026.
Quick Answer
The three steel tube, iron ore and integrated steel stocks to watch are APL Apollo Tubes, NMDC and Sarda Energy. Their return on equity ranges from 15.0% to 22.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.9% to 15.3%. APL Apollo Tubes leads on both return on equity at 22.7% and revenue growth at 15.3% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
Steel tube, iron ore and integrated steel stocks let investors follow companies across the steel value chain. APL Apollo Tubes, NMDC and Sarda Energy cover structural steel tubes, the largest iron ore miner and integrated steel and ferro alloys.
This list covers three steel tube, iron ore and integrated steel stocks with complete current figures: APL Apollo Tubes, NMDC and Sarda Energy. Every figure comes from the latest reported financials and the 22 October 2026 market close. Companies without complete current figures were left out.
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What Are Steel Tube, Iron Ore and Integrated Steel Stocks?
Steel tube, iron ore and integrated steel stocks are listed companies that mine ore, make steel and ferro alloys and convert steel into tubes. Their earnings depend on volumes, realisations and input costs.
Steel Tube, Iron Ore and Integrated Steel Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| APL Apollo Tubes | 2,052.4 | 59,835 | 48.7 | 44.4 | 22.7 | 0.09 |
| NMDC | 68.88 | 61,921 | 8.3 | 9.9 | 21.9 | 0.19 |
| Sarda Energy | 456.25 | 16,079 | 14.0 | 22.4 | 15.0 | 0.36 |
On valuation, NMDC and Sarda Energy trade at a P/E below the industry P/E, while APL Apollo Tubes trades above it, which reflects the growth the market already expects. Readers comparing steel tube, iron ore and integrated steel stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in steel tube, iron ore and integrated steel stocks can use the coming numbers to test whether growth is holding.
Why Do Steel Tube, Iron Ore and Integrated Steel Stocks Have a Strong Roadmap in India?
Steel tube, iron ore and integrated steel stocks have a strong roadmap in India because construction, infrastructure and manufacturing growth keep lifting demand across the steel chain.
- Infrastructure spending. Public projects keep steel demand healthy.
- Value-added products. Tubes earn better margins than plain steel.
- Captive inputs. Own ore and power support cost control.
Why APL Apollo Tubes Features Among These Steel Tube, Iron Ore and Integrated Steel Stocks
Among the steel tube, iron ore and integrated steel stocks on this list, APL Apollo Tubes is India’s largest maker of structural steel tubes, supplying galvanised and pre-galvanised tubes for buildings, infrastructure, solar structures and housing.
Revenue rose from Rs 13,104 crore in FY22 to Rs 23,191 crore in FY26, a compound annual growth rate of 15.3%. Net profit grew from Rs 619 crore in FY22 to Rs 1,203 crore in FY26, which works out to a compound annual growth rate of 18.1%.
In the June 2026 quarter, revenue grew 8.7% year on year to Rs 5,646 crore, while net profit rose 10.9% to Rs 263 crore. The company has a return on equity of 22.7%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 59,835 crore. The stock trades at a P/E of 48.7, above the industry P/E of 44.4.
Roadmap: The company is widening its product range into value-added tubes, expanding capacity across the country and growing its dealer network. Adoption of steel structures in buildings and solar installations supports volume growth.
What to watch: Check the growth in value-added products and the commissioning of new plants.
Why NMDC Features Among These Steel Tube, Iron Ore and Integrated Steel Stocks
Among the structural steel and mining shares on this list, NMDC is a public sector miner and India’s largest producer of iron ore, with mines in Chhattisgarh and Karnataka, and it also has interests in lithium, diamonds and other minerals.
In the June 2026 quarter, revenue grew 1.5% year on year to Rs 7,143 crore, while net profit rose 1.9% to Rs 2,006 crore. Revenue rose from Rs 26,683 crore in FY22 to Rs 33,559 crore in FY26, a compound annual growth rate of 5.9%.
Net profit grew from Rs 5,538 crore in FY23 to Rs 7,415 crore in FY26, which works out to a compound annual growth rate of 10.2%. The company has a return on equity of 21.9%, a debt to equity ratio of 0.19 and a market capitalisation of Rs 61,921 crore. The stock trades at a P/E of 8.3, below the industry P/E of 9.9.
Roadmap: The company plans to raise production capacity to meet the country’s growing steel demand and has a debt-free balance sheet that supports its mining expansion. Its low-cost iron ore and new mineral projects give it multiple growth options.
What to watch: Follow iron ore volumes and prices and the pace of its expansion and critical mineral projects.
Why Sarda Energy Features Among These Steel Tube, Iron Ore and Integrated Steel Stocks
Among the three companies on this list, Sarda Energy and Minerals is a Raipur-based integrated company producing ferro alloys, sponge iron, steel billets and power, supported by its own mines.
The company has a return on equity of 15.0%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 16,079 crore. The stock trades at a P/E of 14.0, below the industry P/E of 22.4.
Revenue rose from Rs 3,964 crore in FY22 to Rs 5,928 crore in FY26, a compound annual growth rate of 10.6%. Net profit grew from Rs 808 crore in FY22 to Rs 1,063 crore in FY26, which works out to a compound annual growth rate of 7.1%. In the June 2026 quarter, revenue grew 0.2% year on year to Rs 1,717 crore, while net profit rose 9.4% to Rs 463 crore.
Roadmap: The company is growing capacity in steel and power while using captive mines to support its cost base. An integrated model lets it capture margin at several steps of production.
What to watch: Track capacity additions, captive mine output and power plant performance.
APL Apollo Tubes vs NMDC vs Sarda Energy on Key Financials
The table below sets the three steel tube, iron ore and integrated steel stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| APL Apollo Tubes | 13,104 | 23,191 | 15.3% | 1,203 | 5.2% |
| NMDC | 26,683 | 33,559 | 5.9% | 7,415 | 22.1% |
| Sarda Energy | 3,964 | 5,928 | 10.6% | 1,063 | 17.9% |
APL Apollo Tubes posts the highest return on equity in this group at 22.7%. NMDC has the largest FY26 revenue at Rs 33,559 crore, and APL Apollo Tubes shows the fastest revenue growth with a 15.3% compound annual rate. A useful habit with steel tube, iron ore and integrated steel stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| APL Apollo Tubes | 5,195 | 5,646 | 8.7% |
| NMDC | 7,039 | 7,143 | 1.5% |
| Sarda Energy | 1,713 | 1,717 | 0.2% |
Key Risks to Check Before Investing in Steel Tube, Iron Ore and Integrated Steel Stocks
Every theme carries risks that deserve a check before any decision. For these steel tube, iron ore and integrated steel stocks, the main points are: Long-term structural steel and mining shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Metal prices. Steel and ore prices can move with global cycles.
- Input costs. Coal and power costs affect margins.
- Policy changes. Duties and mining rules can shift.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter steel tube, iron ore and integrated steel stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Steel Tube, Iron Ore and Integrated Steel Stocks
Steel tube, iron ore and integrated steel stocks reward investors who follow volumes, realisations and costs together. APL Apollo Tubes, NMDC and Sarda Energy each play a distinct role in the chain. Based on the 22 October 2026 close, APL Apollo Tubes trades at Rs 2,052.4, NMDC at Rs 68.88 and Sarda Energy at Rs 456.25. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these steel tube, iron ore and integrated steel stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are steel tube, iron ore and integrated steel stocks?
Ans. Steel tube, iron ore and integrated steel stocks are listed companies that mine ore, make steel and ferro alloys and convert steel into tubes. Their earnings depend on volumes, realisations and input costs. This list looks at three of them, APL Apollo Tubes, NMDC and Sarda Energy, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which steel tube, iron ore and integrated steel stocks are covered in this list?
Ans. This list covers APL Apollo Tubes, NMDC and Sarda Energy. Based on the 22 October 2026 close, APL Apollo Tubes traded at Rs 2,052.4, NMDC at Rs 68.88 and Sarda Energy at Rs 456.25. Their return on equity ranges from 15.0% to 22.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.9% to 15.3%.
Why do steel tube, iron ore and integrated steel stocks have a strong future roadmap in India?
Ans. Steel tube, iron ore and integrated steel stocks have a strong roadmap in India because construction, infrastructure and manufacturing growth keep lifting demand across the steel chain. The main drivers are as follows. Infrastructure spending. Public projects keep steel demand healthy. Value-added products. Tubes earn better margins than plain steel. Captive inputs. Own ore and power support cost control. Together these factors give the companies on this list a visible path for growth over the coming years.
How has APL Apollo Tubes performed financially?
Ans. Revenue rose from Rs 13,104 crore in FY22 to Rs 23,191 crore in FY26, a compound annual growth rate of 15.3%. Net profit grew from Rs 619 crore in FY22 to Rs 1,203 crore in FY26, which works out to a compound annual growth rate of 18.1%. In the June 2026 quarter, revenue grew 8.7% year on year to Rs 5,646 crore, while net profit rose 10.9% to Rs 263 crore. The company has a return on equity of 22.7%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 59,835 crore. The stock trades at a P/E of 48.7, above the industry P/E of 44.4. Looking ahead, the company is widening its product range into value-added tubes, expanding capacity across the country and growing its dealer network. Adoption of steel structures in buildings and solar installations supports volume growth.
How has NMDC performed financially?
Ans. Revenue rose from Rs 26,683 crore in FY22 to Rs 33,559 crore in FY26, a compound annual growth rate of 5.9%. Net profit grew from Rs 5,538 crore in FY23 to Rs 7,415 crore in FY26, which works out to a compound annual growth rate of 10.2%. In the June 2026 quarter, revenue grew 1.5% year on year to Rs 7,143 crore, while net profit rose 1.9% to Rs 2,006 crore. The company has a return on equity of 21.9%, a debt to equity ratio of 0.19 and a market capitalisation of Rs 61,921 crore. The stock trades at a P/E of 8.3, below the industry P/E of 9.9. Looking ahead, the company plans to raise production capacity to meet the country’s growing steel demand and has a debt-free balance sheet that supports its mining expansion. Its low-cost iron ore and new mineral projects give it multiple growth options.
How has Sarda Energy performed financially?
Ans. Revenue rose from Rs 3,964 crore in FY22 to Rs 5,928 crore in FY26, a compound annual growth rate of 10.6%. Net profit grew from Rs 808 crore in FY22 to Rs 1,063 crore in FY26, which works out to a compound annual growth rate of 7.1%. In the June 2026 quarter, revenue grew 0.2% year on year to Rs 1,717 crore, while net profit rose 9.4% to Rs 463 crore. The company has a return on equity of 15.0%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 16,079 crore. The stock trades at a P/E of 14.0, below the industry P/E of 22.4. Looking ahead, the company is growing capacity in steel and power while using captive mines to support its cost base. An integrated model lets it capture margin at several steps of production.
What risks should investors check before buying steel tube, iron ore and integrated steel stocks?
Ans. Investors should check a few risks before buying steel tube, iron ore and integrated steel stocks. Metal prices. Steel and ore prices can move with global cycles. Input costs. Coal and power costs affect margins. Policy changes. Duties and mining rules can shift. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of steel tube, iron ore and integrated steel stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 22 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
