A fast-read primer on India's non-ferrous metals sector — the backdrop against which we benchmark every company's cost structure in this category.
Output keeps climbing even as prices strengthen across the board on robust industrial demand.
FY25 → FY26
By metal
Global scale, rising industrial demand, and targeted policy support define the sector.
A sample of the industry-wide and policy moves shaping the sector through early 2026.
Listed Indian Non-Ferrous Metals companies in tDoBe's cost-benchmarking coverage.
The market facts above are public background. What follows is tDoBe's own work: every "Other Expenses" line from these companies' own financial records, read by hand and sorted into one clear set of categories — not a keyword search, not each company's own way of reporting it.
Each mark is one company's total Other Expenses as % of net revenue. No company is named here.
Ranked from biggest to smallest.
Miscellaneous & Others (4.9% of revenue) and Power & Fuel/Utilities (4.8%) sit close together at the top — smelting and refining are energy-intensive businesses, and that shows clearly here.
This sector spans large integrated producers down to much smaller downstream companies — that difference in scale and business model, not a gap in cost discipline, drives most of the 11.5x spread.
Two companies aren't part of this comparison: one whose real manufacturing operations sit inside a separate subsidiary rather than the parent company we can see in its own filing, and one still in the exploration stage with no meaningful production revenue yet. Both are kept in the full workbook for reference, just not in the averages.
This is the free, sector-wide view. It tells you where Non-Ferrous Metals stands as a whole — not where your own company stands against it, category by category, in rupees.
A below-average number is a reason to call too — the benchmark keeps improving as we go.