3 Integrated Aluminium Producer, Ferro Alloys and Steel Maker and Wire Rope and Specialty Steel Maker Stocks With a Strong Future Roadmap: National Aluminium Company, Shyam Metalics and Energy and Usha Martin
- October 26, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
National Aluminium Company, Shyam Metalics and Energy and Usha Martin: ROE of 9.3% to 26.8% and FY22 to FY26 revenue CAGR of 6.3% to 15.7%. Prices as of 23 Oct 2026.
Quick Answer
The three aluminium, alloy and specialty steel stocks to watch are National Aluminium Company, Shyam Metalics and Energy and Usha Martin. Their return on equity ranges from 9.3% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.3% to 15.7%. National Aluminium Company has the highest return on equity at 26.8%, while Shyam Metalics and Energy has the fastest revenue growth at 15.7% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Aluminium, alloy and specialty steel stocks let investors follow companies that serve a growing part of the Indian economy. National Aluminium Company, Shyam Metalics and Energy and Usha Martin cover an integrated aluminium producer, a ferro alloys and steel maker and a wire rope and specialty steel maker.
This list covers three aluminium, alloy and specialty steel stocks with complete current figures: National Aluminium Company, Shyam Metalics and Energy and Usha Martin. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Aluminium, Alloy and Specialty Steel Stocks?
Aluminium, alloy and specialty steel stocks are listed metal companies that produce aluminium, steel, ferro alloys and wire ropes. Their earnings depend on metal prices, volumes, input costs and capacity use.
Aluminium, Alloy and Specialty Steel Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| National Aluminium Company | 301.75 | 58,387 | 8.7 | 11.6 | 26.8 | 0.00 |
| Shyam Metalics and Energy | 1,131.3 | 33,391 | 29.8 | 22.4 | 9.3 | 0.09 |
| Usha Martin | 460.05 | 14,230 | 28.1 | 22.4 | 14.1 | 0.07 |
On valuation, National Aluminium Company trades at a P/E below the industry P/E, while Shyam Metalics and Energy and Usha Martin trade above it, which reflects the growth the market already expects. Readers comparing aluminium, alloy and specialty 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 aluminium, alloy and specialty steel stocks can use the coming numbers to test whether growth is holding.
Why Do Aluminium, Alloy and Specialty Steel Stocks Have a Strong Roadmap in India?
Aluminium, alloy and specialty steel stocks have a strong roadmap in India because infrastructure, power and vehicle demand keep raising metal use, and integrated producers with their own raw materials hold a cost edge.
- Infrastructure spending. Construction and power need steel and aluminium.
- Value-added products. Wire ropes and specialty steel earn better realisations.
- Integrated operations. Own power and mines help control costs.
Why National Aluminium Company Features Among These Aluminium, Alloy and Specialty Steel Stocks
Among the aluminium, alloy and specialty steel stocks on this list, National Aluminium Company, known as NALCO, is a public sector firm that mines bauxite, refines alumina and produces aluminium, with captive power generation in Odisha.
In the June 2026 quarter, revenue grew 39.3% year on year to Rs 5,476 crore, while net profit rose 90.9% to Rs 2,003 crore. Revenue rose from Rs 14,478 crore in FY22 to Rs 18,509 crore in FY26, a compound annual growth rate of 6.3%.
Net profit grew from Rs 2,951 crore in FY22 to Rs 5,797 crore in FY26, which works out to a compound annual growth rate of 18.4%. The company has a return on equity of 26.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 58,387 crore. The stock trades at a P/E of 8.7, below the industry P/E of 11.6.
Roadmap: The company is one of the lowest-cost integrated aluminium producers and plans to expand its mine, refinery and smelter capacity. A debt-free balance sheet and strong cash flows support these investments.
What to watch: Follow aluminium and alumina price trends and the pace of its expansion projects.
Why Shyam Metalics and Energy Features Among These Aluminium, Alloy and Specialty Steel Stocks
Among the non-ferrous metal company shares on this list, Shyam Metalics and Energy is an integrated metal producer with sponge iron, ferro alloys, steel products, stainless steel and aluminium foil, backed by captive power plants.
The company has a return on equity of 9.3%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 33,391 crore. The stock trades at a P/E of 29.8, above the industry P/E of 22.4.
Revenue rose from Rs 10,454 crore in FY22 to Rs 18,756 crore in FY26, a compound annual growth rate of 15.7%. Net profit grew from Rs 843 crore in FY23 to Rs 1,060 crore in FY26, which works out to a compound annual growth rate of 7.9%. In the June 2026 quarter, revenue grew 23.0% year on year to Rs 5,502 crore, while net profit rose 20.7% to Rs 351 crore.
Roadmap: The company is expanding capacity in long steel and stainless products and building a presence in value-added metals. Captive power and raw material integration support cost control.
What to watch: Follow new capacity commissioning, product mix and input costs.
Why Usha Martin Features Among These Aluminium, Alloy and Specialty Steel Stocks
Among the three companies on this list, Usha Martin is a leading maker of wire ropes and other steel wire products used in mining, oil and gas, construction and infrastructure. It also runs an integrated steel operation that supports its wire business.
Revenue rose from Rs 2,723 crore in FY22 to Rs 3,760 crore in FY26, a compound annual growth rate of 8.4%. Net profit grew from Rs 291 crore in FY22 to Rs 491 crore in FY26, which works out to a compound annual growth rate of 13.9%.
In the June 2026 quarter, revenue grew 15.4% year on year to Rs 1,042 crore, while net profit rose 40.9% to Rs 142 crore. The company has a return on equity of 14.1%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 14,230 crore. The stock trades at a P/E of 28.1, above the industry P/E of 22.4.
Roadmap: The company is growing its value-added wire rope and speciality product lines and exporting to many countries. Its own steel supply supports quality control and cost.
What to watch: Track wire rope volumes, export orders and demand from mining and infrastructure users.
National Aluminium Company vs Shyam Metalics and Energy vs Usha Martin on Key Financials
The table below sets the three aluminium, alloy and specialty 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 |
|---|---|---|---|---|---|
| National Aluminium Company | 14,478 | 18,509 | 6.3% | 5,797 | 31.3% |
| Shyam Metalics and Energy | 10,454 | 18,756 | 15.7% | 1,060 | 5.7% |
| Usha Martin | 2,723 | 3,760 | 8.4% | 491 | 13.1% |
National Aluminium Company posts the highest return on equity in this group at 26.8%. Shyam Metalics and Energy combines the largest FY26 revenue at Rs 18,756 crore with the fastest revenue growth, a 15.7% compound annual rate. A useful habit with aluminium, alloy and specialty 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 |
|---|---|---|---|
| National Aluminium Company | 3,930 | 5,476 | 39.3% |
| Shyam Metalics and Energy | 4,472 | 5,502 | 23.0% |
| Usha Martin | 903 | 1,042 | 15.4% |
Key Risks to Check Before Investing in Aluminium, Alloy and Specialty Steel Stocks
Every theme carries risks that deserve a check before any decision. For these aluminium, alloy and specialty steel stocks, the main points are: Long-term non-ferrous metal company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Metal prices. Global price swings affect earnings.
- Input costs. Coal, power and ore prices affect margins.
- Demand cycles. Industrial slowdowns can reduce volumes.
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 aluminium, alloy and specialty steel stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Aluminium, Alloy and Specialty Steel Stocks
Aluminium, alloy and specialty steel stocks reward investors who follow demand trends, order books and margins together. National Aluminium Company, Shyam Metalics and Energy and Usha Martin each have a clear plan to grow. Based on the 23 October 2026 close, National Aluminium Company trades at Rs 301.75, Shyam Metalics and Energy at Rs 1,131.3 and Usha Martin at Rs 460.05. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these aluminium, alloy and specialty steel stocks to a watchlist.
Download the Univest iOS App or Univest Android App to track aluminium, alloy and specialty steel stocks, set price alerts and get research-backed stock ideas.
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 aluminium, alloy and specialty steel stocks?
Ans. Aluminium, alloy and specialty steel stocks are listed metal companies that produce aluminium, steel, ferro alloys and wire ropes. Their earnings depend on metal prices, volumes, input costs and capacity use. This list looks at three of them, National Aluminium Company, Shyam Metalics and Energy and Usha Martin, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which aluminium, alloy and specialty steel stocks are covered in this list?
Ans. This list covers National Aluminium Company, Shyam Metalics and Energy and Usha Martin. Based on the 23 October 2026 close, National Aluminium Company traded at Rs 301.75, Shyam Metalics and Energy at Rs 1,131.3 and Usha Martin at Rs 460.05. Their return on equity ranges from 9.3% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.3% to 15.7%.
Why do aluminium, alloy and specialty steel stocks have a strong future roadmap in India?
Ans. Aluminium, alloy and specialty steel stocks have a strong roadmap in India because infrastructure, power and vehicle demand keep raising metal use, and integrated producers with their own raw materials hold a cost edge. The main drivers are as follows. Infrastructure spending. Construction and power need steel and aluminium. Value-added products. Wire ropes and specialty steel earn better realisations. Integrated operations. Own power and mines help control costs. Together these factors give the companies on this list a visible path for growth over the coming years.
How has National Aluminium Company performed financially?
Ans. Revenue rose from Rs 14,478 crore in FY22 to Rs 18,509 crore in FY26, a compound annual growth rate of 6.3%. Net profit grew from Rs 2,951 crore in FY22 to Rs 5,797 crore in FY26, which works out to a compound annual growth rate of 18.4%. In the June 2026 quarter, revenue grew 39.3% year on year to Rs 5,476 crore, while net profit rose 90.9% to Rs 2,003 crore. The company has a return on equity of 26.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 58,387 crore. The stock trades at a P/E of 8.7, below the industry P/E of 11.6. Looking ahead, the company is one of the lowest-cost integrated aluminium producers and plans to expand its mine, refinery and smelter capacity. A debt-free balance sheet and strong cash flows support these investments.
How has Shyam Metalics and Energy performed financially?
Ans. Revenue rose from Rs 10,454 crore in FY22 to Rs 18,756 crore in FY26, a compound annual growth rate of 15.7%. Net profit grew from Rs 843 crore in FY23 to Rs 1,060 crore in FY26, which works out to a compound annual growth rate of 7.9%. In the June 2026 quarter, revenue grew 23.0% year on year to Rs 5,502 crore, while net profit rose 20.7% to Rs 351 crore. The company has a return on equity of 9.3%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 33,391 crore. The stock trades at a P/E of 29.8, above the industry P/E of 22.4. Looking ahead, the company is expanding capacity in long steel and stainless products and building a presence in value-added metals. Captive power and raw material integration support cost control.
How has Usha Martin performed financially?
Ans. Revenue rose from Rs 2,723 crore in FY22 to Rs 3,760 crore in FY26, a compound annual growth rate of 8.4%. Net profit grew from Rs 291 crore in FY22 to Rs 491 crore in FY26, which works out to a compound annual growth rate of 13.9%. In the June 2026 quarter, revenue grew 15.4% year on year to Rs 1,042 crore, while net profit rose 40.9% to Rs 142 crore. The company has a return on equity of 14.1%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 14,230 crore. The stock trades at a P/E of 28.1, above the industry P/E of 22.4. Looking ahead, the company is growing its value-added wire rope and speciality product lines and exporting to many countries. Its own steel supply supports quality control and cost.
What risks should investors check before buying aluminium, alloy and specialty steel stocks?
Ans. Investors should check a few risks before buying aluminium, alloy and specialty steel stocks. Metal prices. Global price swings affect earnings. Input costs. Coal, power and ore prices affect margins. Demand cycles. Industrial slowdowns can reduce volumes. 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 aluminium, alloy and specialty steel stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 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.
