500228 Fair Value & Analysis
Materials · IN · Market cap ₹2.8T (≈ $30.1B) · ISIN INE019A01038
What is 500228 really worth?
A solid business, but trading 23% above our fair value of ₹1,079.
Strengths
Risks
Fair value as of: Aug 22, 2026
From 24 valuation models · updated 14 days ago
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (₹621.71 to ₹1,937). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range ₹504.98 – ₹1,339 · fair‑value band ₹621.71 – ₹1,937 · the ₹1,325 price screens above the ₹1,079 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Analysis
500228 (500228) currently trades at ₹1,325, while our model-based Fair Value estimate is ₹1,079, implying the stock looks roughly 22.8% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Materials sector. Bull case: the Growth Earnings group reads highest at a median of ₹1,711 per share, and 8 of the 24 models we run sit above the ₹1,325 price. Bear case: the Asset-Based group reads lowest at ₹309.17, and 16 of the 24 models stay below the price. Evidence for this calculation is high.
Net debt stands at ₹761B. The stock trades on a trailing P/E of 72.3 (as of Jul 4, 2026). Fundamentals as of Aug 22, 2026
Our scenario range runs from ₹621.71 (bear case) to ₹1,937 (bull case); at ₹1,325, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 30% above its 52-week low. For context, the median of 10 Materials peers we cover trades at −29% fair-value upside, at −19%, 500228 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ₹16.67 per share, which is 1.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Growth Earnings (₹1,711) versus Asset-Based (₹309.17). Highest evidence: FCF DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 68
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
500228 reported revenue of ₹1.8T in FY2025 versus ₹1.5T in FY2021, a compound +5.6%/yr. Reported net income was ₹223B in FY2025, compounding +1.9%/yr from FY2021.
500228 screens 23% overvalued. Compare with Nucor Corporation →
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $250.50 | $116.05 | −54% |
| ArcelorMittal S.A MT | €64.60 | €46.04 | −29% |
| JSW Steel Limited JSWSTEEL | ₹1,296 | ₹1,119 | −14% |
| Steel Dynamics, Inc STLD | $234.67 | $127.14 | −46% |
| Tata Steel Limited TATASTEEL | ₹186.80 | ₹145.39 | −22% |
| Reliance, Inc RS | $387.59 | $217.81 | −44% |
| Baoshan Iron & Steel Co 600019 | ¥5.91 | ¥8.07 | +37% |
| POSCO Holdings PKX | $63.13 | $85.21 | +35% |
| Jindal Steel & Power Limited JINDALSTEL | ₹1,114 | ₹429.44 | −61% |
| Lloyds Metals and Energy Limited LLOYDSME | ₹1,891 | ₹793.69 | −58% |
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