Top Steel companies in India by Debt to Equity Ratio

This ranking features the top 79 Steel companies in India ranked by Debt to Equity Ratio, averaging a Debt to Equity Ratio of 0.49, for January 15, 2025.

India

Steel

#	Name	Debt to Equity Ratio	Reported Date	Stock Price	Change	Country
1	Shah Alloys Limited 1 SHAHALLOYS.NS	7.13	March 31, 2024	USD 0.72	-1.86%	India
2	S.A.L. Steel Limited 2 SALSTEEL.NS	3.05	March 31, 2024	USD 0.24	10.16%	India
3	Bedmutha Industries Limited 3 BEDMUTHA.NS	1.95	March 31, 2024	USD 2.32	1.40%	India
4	Mukand Limited 4 MUKANDLTD.NS	1.62	March 31, 2024	USD 1.33	0.74%	India
5	Pitti Engineering Limited 5 PITTIENG.NS	1.48	March 31, 2024	USD 14.37	-0.09%	India
6	Jayaswal Neco Industries Limited 6 JAYNECOIND.NS	1.43	March 31, 2024	USD 0.45	2.25%	India
7	MSP Steel & Power Limited 7 MSPL.NS	1.34	March 31, 2024	USD 0.44	5.14%	India
8	Hisar Metal Industries Limited 8 HISARMETAL.NS	1.34	March 31, 2024	USD 2.40	5.58%	India
9	M M Forgings Limited 9 MMFL.NS	1.18	March 31, 2024	USD 4.97	2.21%	India
10	Manaksia Coated Metals & Industries Limited 10 MANAKCOAT.NS	1.17	March 31, 2024	USD 1.23	-1.37%	India
11	JSW Steel Limited 11 JSWSTEEL.NS	1.13	March 31, 2024	USD 10.47	2.67%	India
12	Tata Steel Limited 12 TATASTEEL.NS	0.95	March 31, 2024	USD 1.47	3.41%	India
13	HLE Glascoat Limited 13 HLEGLAS.NS	0.93	March 31, 2024	USD 3.82	0.74%	India
14	Pennar Industries Limited 14 PENIND.NS	0.90	March 31, 2024	USD 2.04	3.21%	India
15	Ratnaveer Precision Engineering Limited 15 RATNAVEER.NS	0.82	March 31, 2024	USD 1.94	3.31%	India
16	Hariom Pipe Industries Limited 16 HARIOMPIPE.NS	0.80	March 31, 2024	USD 5.77	0.28%	India
17	Vibhor Steel Tubes Limited 17 VSTL.NS	0.80	March 31, 2024	USD 2.33	2.99%	India
18	Salasar Techno Engineering Limited 18 SALASAR.NS	0.78	March 31, 2024	USD 0.15	10.50%	India
19	Steel Strips Wheels Limited 19 SSWL.NS	0.73	March 31, 2024	USD 2.23	0.86%	India
20	Hi-Tech Pipes Limited 20 HITECH.NS	0.70	March 31, 2024	USD 1.67	6.43%	India
21	Geekay Wires Limited 21 GEEKAYWIRE.NS	0.67	March 31, 2024	USD 1.05	1.91%	India
22	Steel Authority of India Limited 22 SAIL.NS	0.64	March 31, 2024	USD 1.22	5.94%	India
23	Manaksia Steels Limited 23 MANAKSTEEL.NS	0.62	March 31, 2024	USD 0.68	6.71%	India
24	Steel Exchange India Limited 24 STEELXIND.NS	0.58	March 31, 2024	USD 0.11	7.59%	India
25	Jindal Saw Limited 25 JINDALSAW.NS	0.57	March 31, 2024	USD 2.83	2.04%	India
26	Hilton Metal Forging Limited 26 HILTON.NS	0.54	March 31, 2024	USD 1.07	1.22%	India
27	Goodluck India Limited 27 GOODLUCK.NS	0.53	March 31, 2024	USD 10.09	3.31%	India
28	Kritika Wires Limited 28 KRITIKA.NS	0.48	March 31, 2024	USD 0.12	-1.60%	India
29	Electrosteel Castings Limited 29 ELECTCAST.NS	0.46	March 31, 2024	USD 1.45	5.07%	India
30	Ramkrishna Forgings Limited 30 RKFORGE.NS	0.45	March 31, 2024	USD 10.85	2.50%	India
31	Rama Steel Tubes Limited 31 RAMASTEEL.NS	0.43	March 31, 2024	USD 0.13	3.89%	India
32	NMDC Steel Limited 32 NSLNISP.NS	0.43	March 31, 2024	USD 0.47	6.32%	India
33	Jindal Stainless Limited 33 JSL.NS	0.42	March 31, 2024	USD 7.23	3.29%	India
34	Kirloskar Ferrous Industries Limited 34 KIRLFER.BO	0.38	March 31, 2024	USD 6.86	-1.99%	India
35	Jindal Steel & Power Limited 35 JINDALSTEL.NS	0.37	March 31, 2024	USD 10.51	3.94%	India
36	Kalyani Steels Limited 36 KSL.NS	0.35	March 31, 2024	USD 11.25	3.72%	India
37	Sarda Energy & Minerals Limited 37 SARDAEN.NS	0.35	March 31, 2024	USD 4.89	-1.57%	India
38	Welspun Corp Limited 38 WELCORP.NS	0.35	March 31, 2024	USD 8.45	1.70%	India
39	Mishra Dhatu Nigam Limited 39 MIDHANI.NS	0.33	March 31, 2024	USD 3.60	3.48%	India
40	Incredible Industries Limited 40 INCREDIBLE.NS	0.33	March 31, 2024	USD 0.53	7.07%	India
41	Ganga Forging Limited 41 GANGAFORGE.NS	0.32	March 31, 2024	USD 0.08	5.01%	India
42	APL Apollo Tubes Limited 42 APLAPOLLO.NS	0.32	March 31, 2024	USD 16.95	3.16%	India
43	Jai Balaji Industries Limited 43 JAIBALAJI.NS	0.31	March 31, 2024	USD 9.71	4.09%	India
44	Ahlada Engineers Limited 44 AHLADA.NS	0.31	March 31, 2024	USD 1.03	1.65%	India
45	Mahamaya Steel Industries Limited 45 MAHASTEEL.NS	0.29	March 31, 2024	USD 2.19	0.23%	India
46	Tirupati Forge Limited 46 TIRUPATIFL.NS	0.26	March 31, 2024	USD 0.65	-1.87%	India
47	Man Industries (India) Limited 47 MANINDS.NS	0.23	March 31, 2024	USD 3.66	2.48%	India
48	Bharat Wire Ropes Limited 48 BHARATWIRE.NS	0.20	March 31, 2024	USD 2.19	1.76%	India
49	Gallantt Ispat Limited 49 GALLANTT.NS	0.19	March 31, 2024	USD 3.73	2.42%	India
50	IFGL Refractories Limited 50 IFGLEXPOR.NS	0.16	March 31, 2024	USD 4.86	2.41%	India

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Frequently Asked Questions

Which Steel company in India has the highest Debt to Equity Ratio ?

The Steel company in India with the highest Debt to Equity Ratio is Shah Alloys Limited (NSE: SHAHALLOYS.NS) at 7.13.
Which Steel company in India has the lowest Debt to Equity Ratio ?

The Steel company in India with the lowest Debt to Equity Ratio is VISA Steel Limited (NSE: VISASTEEL.NS) at -1.67.

What are the top 10 Steel companies in India by Debt to Equity Ratio ?

The top 10 Steel companies in India by Debt to Equity Ratio are Shah Alloys Limited, S.A.L. Steel Limited, Bedmutha Industries Limited, Mukand Limited, Pitti Engineering Limited, Jayaswal Neco Industries Limited, MSP Steel & Power Limited, Hisar Metal Industries Limited, M M Forgings Limited and Manaksia Coated Metals & Industries Limited.
What are the bottom 10 Steel companies in India by Debt to Equity Ratio ?

The bottom 10 Steel companies in India by Debt to Equity Ratio are VISA Steel Limited, Supreme Engineering Limited, Impex Ferro Tech Limited, Zenith Steel Pipes & Industries Limited, Kridhan Infra Limited, Sarthak Metals Limited, Maharashtra Seamless Limited, Steelcast Limited, Gandhi Special Tubes Limited and Surya Roshni Limited.