This book examines the financial strength and performance of the Indian Steel industry. Financial performance is the process of identifying the financial strength and weakness of the firm by properly establishing relationship between the items of balance sheet and profit and loss account. Since the Steel industry is considered to be a backbone for the growth of Indian economy to achieve a long-term sustainable development in the overall economy, there is arising need to look at the financial strength of the steel industry. The sample is based on the data provided by the CMIE Prowess that consist of financial information of Main and Major Producers of Steel. To interpret the data, ratio analysis, Altman Z score model, Motaal’s comprehensive rank test, Spearman’s rank correlation etc. used. This research focused only Main and Major Producers of Steel. Inclusion of all steel firms can give more validation to our argument.