Industrial Minerals industry
15 companies · ₹2.2 L cr · 5 with AI deep dives · Q1FY27 report
Gulf freight shock caps bauxite and recycling volumes as iron ore names hit margin peaks on value-added mix.
- Revenue YoY
- +46.1%
- EBITDA margin
- 31.4%
- +150bps YoY
- Price, 1 year
- +0.6%
- 67% of names up
- P/E vs own 5y
- +13.1%
- 18.6x now
Exhibit 1The quarter in numbers
constant panel of 7 companies above ₹500 cr- Jun 26
- 18,763 cr
- Mar 26
- 22,024 cr
- QoQ
- -14.8%
- Jun 25
- 12,846 cr
- YoY
- +46.1%
- Peak
- 22,024 cr
- vs peak
- -14.8%
- Jun 26
- 31.4%
- Mar 26
- 25.9%
- QoQ
- +550bps
- Jun 25
- 29.9%
- YoY
- +150bps
- Peak
- 31.4%
- vs peak
- 0bps
Breadth: 86% of 7 companies grew revenue year on year (was 100% a quarter earlier) and 43% expanded margin (was 38%).
Exhibit 2What it costs
12.11x - 22.63x across the panel todayThe median name trades at 18.6x, +13.1% against this industry's own 5-year median of 16.5x, and -45.6% against its own peak of 34.2x.
Exhibit 3Structure
₹2.2 L crLloyds Metals & Energy Ltd is 45.6% of this industry by market cap. The top 5 are 95.3% and the top 10 are 99.7%.
Exhibit 4Screen
P/E below the sub-industry median of 18.6x, 5y ROCE above its median of 18.99%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (15 of 15)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹1.0 L cr
- P/E
- 21.0x
- EV/EBITDA
- 19.3x
- ROCE
- 19.4%
- Margin
- 37.6%
- Rev YoY
- +208.6%
- Mcap
- ₹18,333 cr
- P/E
- 19.3x
- EV/EBITDA
- 13.4x
- ROCE
- 15.7%
- Margin
- 45.2%
- Rev YoY
- +23.8%
- Mcap
- ₹2,399 cr
- P/E
- -
- EV/EBITDA
- 169.1x
- ROCE
- 14.8%
- Margin
- 15.0%
- Rev YoY
- +330.9%
- Mcap
- ₹1,072 cr
- P/E
- 24.2x
- EV/EBITDA
- 22.5x
- ROCE
- 17.0%
- Margin
- 9.8%
- Rev YoY
- +164.6%
- Mcap
- ₹24 cr
- P/E
- -
- EV/EBITDA
- 43.4x
- ROCE
- 4.7%
- Margin
- 16.4%
- Rev YoY
- +45.5%
- Mcap
- ₹14 cr
- P/E
- 38.5x
- EV/EBITDA
- 10.0x
- ROCE
- 4.0%
- Margin
- 8.6%
- Rev YoY
- +34.7%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30The Middle East war was cited by four of five covered companies as a live operational headwind. For GRAVITA, it structurally removed 15-20% of scrap import sourcing, capping lead…
- GRAVITA: “the entire gulf from where we used to get around 15% to 20% of our total scrap, we've…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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