Abstract: The steel industry is one of the most important sectors of the Indian economy, contributing significantly to the industrial output, employment generation, and foreign exchange earnings. The public sector steel companies have played a vital role in the development of the steel industry in India, especially after the liberalization of the sector in 1991-92. The objective of this study is to analyze the financial performance of ten selected public sector steel companies in India for a period of ten years from 2011-12 to 2020-21, using various financial ratios and statistical tools. The study also compares the performance of these companies with the industry average and benchmarks. The results of the study reveal that the public sector steel companies have shown mixed performance in terms of liquidity, solvency, efficiency, and profitability. Some of the companies have performed better than the industry average, while some have lagged behind. The study also identifies the strengths and weaknesses of each company and suggests some measures for improvement.