Sector analysis · India
Metals & Mining sector earnings growth, Q1 FY25
The 20 largest Metals & Mining companies by market cap at the end of Q1 FY25 (30 Jun 2024), compared with Q1 FY24.
The top 20 at Q1 FY25
Q1 FY25 vs Q1 FY24: combined net profit ₹14,165 cr (+8%), median EPS +25% (13 of 18 up), market-cap-weighted price +56%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Adani Enterprises Limited | 18.8% | 5.28 → 11.39 | +116% | +5.7 pp | +33% |
| 2 | Hindustan Zinc | 14.7% | 4.66 → 5.58 | +20% | +2.8 pp | +118% |
| 3 | JSW Steel | 11.8% | 9.67 → 3.46 | −64% | −10.8 pp | +19% |
| 4 | Tata Steel | 11.3% | 0.52 → 0.77 | +48% | +2.4 pp | +55% |
| 5 | Vedanta | 8.8% | — → 9.70 | sources disagree | — | +63% |
| 6 | Hindalco Industries Limited | 8.1% | 10.92 → 13.68 | +25% | +4.5 pp | +65% |
| 7 | Jindal Steel Limited | 5.5% | 16.54 → 13.14 | −21% | −2.5 pp | +80% |
| 8 | NMDC Limited | 3.7% | 1.88 → 2.26 | +20% | +2.4 pp | +135% |
| 9 | Jindal Stainless Limited | 3.5% | 8.96 → 7.87 | −12% | −0.7 pp | +149% |
| 10 | S A I L | 3.2% | 0.51 → 0.20 | −61% one-off | −0.9 pp | +74% |
| 11 | Lloyds Metals And Energy Limited | 1.9% | 7.99 → 11.03 | +38% | +1.1 pp | — |
| 12 | National Aluminium Company Limited | 1.8% | 1.82 → 3.20 | +76% | +1.8 pp | +128% |
| 13 | Hindustan Copper Limited | 1.6% | 0.49 → 1.17 | +139% | +0.5 pp | +175% |
| 14 | KIOCL Limited | 1.4% | −0.95 → −0.83 | loss, smaller | +0.1 pp | +136% |
| 15 | NMDC Steel | 0.9% | — → −1.87 | — | — | +30% |
| 16 | Jai Balaji Industries Limited | 0.8% | 2.19 → 2.35 | +7% | +0.3 pp | +1,039% |
| 17 | G M D C | 0.6% | 6.88 → 5.79 | −16% | −0.3 pp | +138% |
| 18 | Gravita India Limited | 0.5% | 7.54 → 9.75 | +29% | +0.1 pp | +143% |
| 19 | MOIL Limited | 0.5% | 4.25 → 7.49 | +76% | +0.5 pp | +204% |
| 20 | Sandur Manganese & Iron Ores Limited | 0.5% | 0.82 → 3.01 | +267% | +0.8 pp | — |
| Sector earnings growth | 100% | +7.7 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q4 FY24, as market caps moved.
Joined the top 20 since Q4 FY24
Left the top 20 since Q4 FY24
- Sarda Energy & Minerals Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | −51% | +130% | −38% | +116% | +666% | −97% | +742% | −50% | +81% | +9,573% | to loss | to loss |
| HINDZINC | −35% | −5% | −21% | +20% | +32% | +30% | +46% | −6% | +15% | +47% | +68% | +146% |
| JSWSTEEL | turned profitable | +387% | −65% | −64% | −84% | −70% | +16% | +158% | +269% | +199% | +988% | +113% |
| TATASTEEL | to loss | turned profitable | −65% | +48% | turned profitable | −38% | +112% | +116% | +270% | +727% | +125% | +12% |
| VEDL | to loss | −18% | −27% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | +72% |
| HINDALCO | 0% | +71% | +32% | +25% | +78% | +60% | +67% | +30% | +21% | −45% | −51% | +75% |
| JINDALSTEL | +594% | +272% | +102% | −21% | −38% | −51% | to loss | +11% | −26% | −80% | turned profitable | −43% |
| NMDC | +16% | +68% | −36% | +20% | +23% | +30% | +2% | −1% | +34% | −10% | +35% | +2% |
| JSL | +210% | +41% | −35% | −12% | −21% | −5% | +18% | +10% | +32% | +26% | +43% | +8% |
| SAIL | turned profitable | −22% | −3% | −61% | −31% | −67% | +11% | +800% | −53% | +168% | +47% | +121% |
| LLOYDSME | sources disagree | sources disagree | sources disagree | +38% | +26% | +14% | −30% | +11% | +89% | +158% | +553% | +150% |
| NATIONALUM | +50% | +83% | +101% | +76% | +459% | +233% | +107% | +78% | +37% | +2% | −17% | +91% |
| HINDCOPPER | sources disagree | sources disagree | sources disagree | +139% | +67% | 0% | +50% | +19% | +81% | +149% | +137% | +162% |
| KIOCL | loss, smaller | turned profitable | to loss | loss, smaller | loss, bigger | to loss | loss, smaller | loss, smaller | loss, smaller | turned profitable | turned profitable | loss, smaller |
| NSLNISP | — | — | — | — | loss, bigger | loss, bigger | loss, smaller | turned profitable | loss, smaller | loss, smaller | turned profitable | +89% |
| JAIBALAJI | +661% | +668% | turned profitable | +7% | −33% | −55% | −75% | −67% | −83% | outside | outside | outside |
| GMDCLTD | −51% | −56% | −54% | −16% | +71% | +26% | +9% | −11% | +264% | −10% | −14% | 0% |
| GRAVITA | +30% | +20% | +8% | +29% | +24% | +21% | +29% | +30% | +25% | +25% | −3% | +14% |
| MOIL | outside | outside | outside | +76% | −19% | +18% | outside | outside | outside | outside | outside | outside |
| SANDUMA | +20% | −76% | −7% | +267% | outside | outside | −14% | outside | +244% | −15% | +41% | outside |