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Indian (NIFTY) Materials Sector Analysis

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies793
  • 7D-1.4%
  • 3M2.9%
  • 1Y12.8%
  • YTD0.04%

Over the last 7 days, the Materials industry has remained flat, although notably Lloyds Metals and Energy gained 11%. The past year has been better, since the industry has gained 13% in that time. As for the next few years, earnings are expected to grow by 22% per annum.

Sector Valuation and Performance

Has the Indian Materials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Feb 2026₹52.0t₹26.7t₹1.7t21.8x29.8x2x
Sun, 04 Jan 2026₹52.7t₹26.3t₹1.7t23x30.4x2x
Tue, 02 Dec 2025₹50.4t₹26.3t₹1.7t22.8x29.1x1.9x
Thu, 30 Oct 2025₹52.2t₹25.7t₹1.6t24.6x31.8x2x
Sat, 27 Sep 2025₹50.0t₹25.4t₹1.6t24.8x31.1x2x
Mon, 25 Aug 2025₹50.7t₹25.4t₹1.6t24.9x31.3x2x
Wed, 23 Jul 2025₹51.1t₹24.9t₹1.6t26.6x32.9x2.1x
Fri, 20 Jun 2025₹48.3t₹24.8t₹1.5t25.6x31.7x1.9x
Sun, 18 May 2025₹48.5t₹24.6t₹1.5t24.4x32.9x2x
Tue, 15 Apr 2025₹44.6t₹24.3t₹1.4t22.6x31.1x1.8x
Thu, 13 Mar 2025₹43.9t₹24.3t₹1.4t22.9x30.6x1.8x
Sat, 08 Feb 2025₹46.1t₹24.2t₹1.4t26.8x32.7x1.9x
Mon, 06 Jan 2025₹47.9t₹24.0t₹1.4t29.9x34.7x2x
Wed, 04 Dec 2024₹49.7t₹24.0t₹1.4t30.4x36.1x2.1x
Fri, 01 Nov 2024₹49.6t₹24.0t₹1.3t30.3x39.1x2.1x
Sun, 29 Sep 2024₹52.7t₹23.9t₹1.3t30.8x40.5x2.2x
Tue, 27 Aug 2024₹50.8t₹24.0t₹1.3t30.5x38.9x2.1x
Thu, 25 Jul 2024₹50.1t₹23.9t₹1.3t30.2x38.6x2.1x
Sat, 22 Jun 2024₹50.1t₹23.8t₹1.3t29.1x38.2x2.1x
Mon, 20 May 2024₹47.2t₹23.8t₹1.3t27.1x35.6x2x
Wed, 17 Apr 2024₹43.7t₹24.0t₹1.4t26.7x31.6x1.8x
Fri, 15 Mar 2024₹40.5t₹24.0t₹1.4t23.9x29.2x1.7x
Sun, 11 Feb 2024₹42.2t₹24.0t₹1.4t26.6x30.3x1.8x
Tue, 09 Jan 2024₹42.4t₹24.4t₹1.4t26.2x31x1.7x
Thu, 07 Dec 2023₹40.8t₹24.4t₹1.4t24.6x29.9x1.7x
Sat, 04 Nov 2023₹37.3t₹24.3t₹1.4t23.7x26.9x1.5x
Mon, 02 Oct 2023₹37.9t₹24.4t₹1.4t23.6x27.1x1.6x
Wed, 30 Aug 2023₹37.5t₹24.4t₹1.4t22.8x26.8x1.5x
Fri, 28 Jul 2023₹36.4t₹24.4t₹1.5t19.9x24.7x1.5x
Sun, 25 Jun 2023₹35.1t₹24.4t₹1.6t19.1x22.6x1.4x
Tue, 23 May 2023₹33.6t₹24.4t₹1.7t18.1x20x1.4x
Thu, 20 Apr 2023₹33.1t₹24.2t₹1.8t16.9x18.3x1.4x
Sat, 18 Mar 2023₹32.0t₹24.2t₹1.8t15.9x17.7x1.3x
Mon, 13 Feb 2023₹32.6t₹24.0t₹1.8t16.5x17.8x1.4x
Price to Earnings Ratio

17.8x


Total Market Cap: ₹32.6tTotal Earnings: ₹1.8tTotal Revenue: ₹24.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Materials Sector Price to Earnings3Y Average 30.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Materials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 30.3x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 3.5% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the Indian Materials sector?

IN Market1.42%
Materials-1.40%
Packaging3.49%
Paper and Forestry Products2.28%
Chemicals2.00%
Basic Materials1.18%
Metals and Mining-5.14%
Industry PE
  • Investors are most optimistic about the Basic Materials industry, which is trading close to its 3-year average PE ratio of 42.4x.
    • Analysts are expecting annual earnings growth of 14.0%, which is higher than its past year's earnings growth of 2.3% per year.
  • Investors are most pessimistic about the Packaging industry, which is trading below its 3-year average of 25.1x.
Forecasted Growth
  • Analysts are most optimistic on the Paper and Forestry Products industry, expecting annual earnings growth of 47% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Basic Materials industry is expected to see its earnings grow by 14% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
512455 Lloyds Metals and Energy₹1.26k14.5%
+₹104.8b		3.2%PE27.9x
JINDALSTEL Jindal Steel₹1.19k5.1%
+₹59.1b		40.9%PE61.2x
PIDILITIND Pidilite Industries₹1.49k4.1%
+₹59.0b		3.7%PE66.1x
500228 JSW Steel₹1.24k1.9%
+₹55.3b		25.8%PE40.5x
500470 Tata Steel₹197.052.0%
+₹49.3b		42.5%PE36.1x

Latest News

500425
₹529.50
Ambuja Cements
7D
3.8%
1Y
3.3%
513599
₹579.85
Hindustan Copper
7D
-15.5%
1Y
137.4%
JINDALSTEL
₹1,189.90
Jindal Steel
7D
5.1%
1Y
40.9%
SOLARINDS
₹12,999.00
Solar Industries India
7D
-3.6%
1Y
43.1%

Results: Solar Industries India Limited Beat Earnings Expectations And Analysts Now Have New Forecasts

Feb 06
Results: Solar Industries India Limited Beat Earnings Expectations And Analysts Now Have New Forecasts
512455
₹1,262.45
Lloyds Metals and Energy
7D
14.5%
1Y
3.2%
PIDILITIND
₹1,489.10
Pidilite Industries
7D
4.1%
1Y
3.7%

PIDILITIND: Fair Outlook Will Reflect Modest Revisions And Upcoming Results

Analysts have trimmed their price target for Pidilite Industries from ₹1,713.50 to ₹1,616.90, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E expectations. What's in the News Pidilite Industries has scheduled a board meeting for February 3, 2026, to consider and take on record the unaudited financial results for the third quarter and nine months ended December 31, 2025 (company filing).
FLUOROCHEM
₹3,428.00
Gujarat Fluorochemicals
7D
12.3%
1Y
-7.4%

FLUOROCHEM: Battery Materials Expansion And Governance Changes Will Support Upside

Analysts have kept their fair value estimate for Gujarat Fluorochemicals steady at ₹3,905.17 per share, with only marginal model tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News A board meeting is scheduled on Feb 12, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
VEDL
₹671.05
Vedanta
7D
-1.5%
1Y
47.2%

VEDL: New Finance Hub And Earnings Outlook Will Support Bullish Repricing

Analysts have raised their price target for Vedanta to ₹763.92 from ₹621.23, citing updated assumptions regarding fair value, discount rate, revenue growth, profit margins and future P/E multiples. What's in the News A board meeting is scheduled on January 29, 2026 at 14:10 IST to consider unaudited financial results for the third quarter and nine months ended December 31, 2025, along with an investor presentation on the results (company filing).
NATIONALUM
₹354.65
National Aluminium
7D
-8.0%
1Y
76.9%
500188
₹608.95
Hindustan Zinc
7D
-3.2%
1Y
38.3%

500188: Future Margins And Production Gains Will Support Positive Outlook

Analysts have maintained their fair value estimate for Hindustan Zinc at ₹750.0 per share and have made slight adjustments to assumptions for discount rate, revenue growth, profit margin and future P/E to reflect updated views on the company’s earnings profile and risk outlook. What's in the News A board meeting is scheduled for January 23, 2026 to consider general matters of the company (company filing).
533758
₹2,198.05
APL Apollo Tubes
7D
7.5%
1Y
53.9%

533758: Upcoming Result Review Will Support A Slightly Firmer Yet Balanced Outlook

Analysts have raised their fair value estimate for APL Apollo Tubes from ₹1,984.94 to ₹2,176.06, citing updated assumptions related to revenue growth, profit margins and future P/E levels. What's in the News Board meeting scheduled for January 22, 2026 at 12:30 Indian Standard Time to consider and approve unaudited standalone financial results for the quarter and nine month period ended December 31, 2025.
500228
₹1,236.00
JSW Steel
7D
1.9%
1Y
25.8%
ASIANPAINT
₹2,401.10
Asian Paints
7D
-1.1%
1Y
5.7%

Asian Paints Limited Just Missed Earnings - But Analysts Have Updated Their Models

Jan 30
Asian Paints Limited Just Missed Earnings - But Analysts Have Updated Their Models
500440
₹942.45
Hindalco Industries
7D
-2.0%
1Y
55.1%

Large CapEx Plans And Copper Margin Pressures Will Restrain Long Term Earnings Potential

Catalysts About Hindalco Industries Hindalco Industries is a diversified metals company focused on aluminium and copper, with significant upstream and downstream operations in India and through its subsidiary Novelis. What are the underlying business or industry changes driving this perspective?
JSL
₹784.90
Jindal Stainless
7D
-4.6%
1Y
22.2%

JSL: Shared Services Expansion Will Support Stronger Margins And Future Upside

Analysts have lifted their price target for Jindal Stainless from ₹828 to about ₹863.92, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News A board meeting is scheduled on January 21, 2026 to review unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and to consider an interim dividend for FY 2025-26 (company filing).
500470
₹197.05
Tata Steel
7D
2.0%
1Y
42.5%

500470: Future Tax Disputes Will Pressure Earnings And Limit Upside Potential

Narrative Update: Tata Steel Analysts have lifted their price target on Tata Steel from ₹125.00 to about ₹145.33, reflecting updated expectations for revenue, profit margins and a slightly lower assumed future P/E multiple. What's in the News Tata Steel India reported provisional production of 6.34 million tons for the third quarter of FY2026 and 17.23 million tons for the first nine months, along with reported volumes from its Netherlands and Thailand operations.