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Indian (NIFTY) Basic Materials Industry Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies68
  • 7D1.8%
  • 3M-2.2%
  • 1Y7.1%
  • YTD1.2%

Over the last 7 days, the Basic Materials industry has risen 1.6%, driven by gains from UltraTech Cement of 4.4%. In the same time, Dalmia Bharat was down 7.1%. This takes the industry's 12 month performance to a gain of 7.6%. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the Indian Basic Materials Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026₹10.6t₹4.5t₹265.7b26.8x39.9x2.4x
Sat, 27 Dec 2025₹10.4t₹4.4t₹261.8b30.4x39.7x2.3x
Mon, 24 Nov 2025₹10.3t₹4.4t₹261.6b31x39.3x2.3x
Wed, 22 Oct 2025₹10.9t₹4.3t₹224.6b34.9x48.4x2.5x
Fri, 19 Sep 2025₹11.2t₹4.3t₹212.6b34.9x52.6x2.6x
Sun, 17 Aug 2025₹11.0t₹4.3t₹225.7b32.9x48.6x2.6x
Tue, 15 Jul 2025₹10.8t₹4.1t₹201.8b44.9x53.7x2.6x
Thu, 12 Jun 2025₹10.3t₹4.1t₹202.0b41.2x50.9x2.5x
Sat, 10 May 2025₹9.8t₹4.0t₹199.4b35.1x49.3x2.4x
Mon, 07 Apr 2025₹9.9t₹4.0t₹202.2b31x48.8x2.5x
Wed, 05 Mar 2025₹9.0t₹4.0t₹202.2b30.3x44.3x2.3x
Fri, 31 Jan 2025₹9.6t₹3.9t₹215.5b33.3x44.7x2.4x
Sun, 29 Dec 2024₹9.8t₹3.9t₹203.2b37.2x48x2.5x
Tue, 26 Nov 2024₹9.7t₹3.9t₹203.1b37.5x47.7x2.5x
Thu, 24 Oct 2024₹9.6t₹3.9t₹233.1b32x41.2x2.5x
Sat, 21 Sep 2024₹10.2t₹3.9t₹239.4b31.7x42.8x2.6x
Mon, 19 Aug 2024₹10.0t₹3.9t₹239.3b29.4x41.6x2.5x
Wed, 17 Jul 2024₹10.6t₹3.9t₹248.4b33.5x42.7x2.7x
Fri, 14 Jun 2024₹10.0t₹3.9t₹248.5b30.9x40.4x2.6x
Sun, 12 May 2024₹9.0t₹3.8t₹251.3b30.3x35.9x2.3x
Tue, 09 Apr 2024₹9.2t₹3.8t₹234.5b31.4x39.1x2.4x
Thu, 07 Mar 2024₹8.9t₹3.8t₹234.5b30.8x38x2.3x
Sat, 03 Feb 2024₹9.2t₹3.8t₹240.5b35.8x38.2x2.4x
Mon, 01 Jan 2024₹9.1t₹3.8t₹216.9b36.5x42.1x2.4x
Wed, 29 Nov 2023₹8.0t₹3.8t₹216.9b33x37x2.1x
Fri, 27 Oct 2023₹7.5t₹3.7t₹192.0b32.7x39.3x2x
Sun, 24 Sep 2023₹7.6t₹3.7t₹185.2b30.3x41.3x2.1x
Tue, 22 Aug 2023₹7.5t₹3.7t₹184.0b31.6x40.5x2x
Thu, 20 Jul 2023₹7.4t₹3.6t₹186.0b34.7x39.9x2.1x
Sat, 17 Jun 2023₹7.7t₹3.6t₹185.8b31.5x41.2x2.1x
Mon, 15 May 2023₹7.1t₹3.5t₹211.1b24.8x33.8x2x
Wed, 12 Apr 2023₹7.0t₹3.4t₹210.3b24.1x33.4x2x
Fri, 10 Mar 2023₹6.7t₹3.4t₹210.0b24.5x32.1x2x
Sun, 05 Feb 2023₹6.7t₹3.4t₹208.1b25.1x32.2x2x
Price to Earnings Ratio

32.2x


Total Market Cap: ₹6.7tTotal Earnings: ₹208.1bTotal Revenue: ₹3.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Basic Materials Industry Price to Earnings3Y Average 42.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Basic 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 42.3x.
  • The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Basic Materials industry have grown 8.9% per year over the last three years.
  • Revenues for these companies have grown 10% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

IN Market1.14%
Materials2.86%
Basic Materials1.75%
Construction Materials1.75%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
ULTRACEMCO UltraTech Cement₹12.72k2.9%
+₹103.8b		10.8%PE48.8x
GRASIM Grasim Industries₹2.83k1.6%
+₹29.9b		13.6%PE44.8x
RAMCOCEM Ramco Cements₹1.10k1.8%
+₹4.6b		19.1%PE70x
RAMCOIND Ramco Industries₹306.405.1%
+₹1.3b		25.0%PE11.5x
KCP KCP₹172.493.1%
+₹666.5m		-16.2%PE14.8x

Latest News

ACC
₹1,678.50
ACC
7D
-2.9%
1Y
-15.8%
RAMCOIND
₹306.40
Ramco Industries
7D
5.1%
1Y
25.0%
VISHNUINFR
₹203.00
Vishnusurya Projects and Infra
7D
12.5%
1Y
-14.4%
JSWCEMENT
₹116.42
JSW Cement
7D
-1.8%
1Y
n/a
DALBHARAT
₹2,063.30
Dalmia Bharat
7D
-3.8%
1Y
11.4%

DALBHARAT: Future Returns Will Likely Disappoint Despite Upcoming Results And Fair Value Revisions

Analysts have raised their fair value estimate for Dalmia Bharat from ₹1,842.00 to ₹1,960.80, citing updated assumptions on the discount rate, revenue growth, profit margins, and future P/E as the key drivers of the revised price target. What's in the News Dalmia Bharat has scheduled a board meeting on January 21, 2026, at 13:40 Indian Standard Time to review and approve the unaudited standalone financial results for the quarter and nine months ended December 31, 2025 (company filing).
ULTRACEMCO
₹12,717.00
UltraTech Cement
7D
2.9%
1Y
10.8%

ULTRACEMCO: Expanded Capacity And Contested GST Demands Will Shape Bullish Outlook

Analysts have adjusted their price target for UltraTech Cement from ₹13,784.90 to ₹13,965.85, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E expectations. What's in the News UltraTech Cement commissioned additional cement capacity of 1.8 mtpa across Dhule in Maharashtra and Nathdwara in Rajasthan, taking total domestic grey cement capacity to 188.66 mtpa and global capacity to 194.06 mtpa, including 5.4 mtpa overseas (Key Developments).
GRASIM
₹2,831.70
Grasim Industries
7D
1.6%
1Y
13.6%

GRASIM: Renewable Energy SPVs Will Support Future Cost Efficiencies

Analysts have slightly raised their fair value estimate for Grasim Industries from ₹3,302 to about ₹3,318, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News Board meeting on Jan 16, 2026, at 11:00 IST to approve the appointment of Mr. Sachin Sahay as Chief Executive Officer of Birla Opus Paints and as Senior Management Personnel of the company, effective Feb 16, 2026 (company filing).
INDIACEM
₹445.20
India Cements
7D
-3.0%
1Y
65.8%
SHREECEM
₹27,055.00
Shree Cement
7D
-1.4%
1Y
0.8%

SHREECEM: Recent Plant Lockout Will Weigh On Earnings And Sentiment

Analysts have made a small upward adjustment to their fair value estimate for Shree Cement to ₹24,263 from ₹24,259, citing refreshed assumptions around revenue growth, profit margins, and the future P/E multiple. What's in the News Management and workmen at the Baloda Bazar cement plant in Raipur, Chhattisgarh, reached an amicable settlement, leading to withdrawal of the lockout effective 22 December 2025 at 11:00 PM (company filing).
RAMCOCEM
₹1,102.00
Ramco Cements
7D
1.8%
1Y
19.1%
500425
₹536.00
Ambuja Cements
7D
-1.9%
1Y
5.2%
KCP
₹172.49
KCP
7D
3.1%
1Y
-16.2%
532644
₹5,539.45
J.K. Cement
7D
-0.7%
1Y
15.4%

532644: Higher Future P/E Assumptions Will Likely Cap Upside Potential

Analysts have increased their fair value estimate for J.K. Cement from ₹5,207.38 to ₹5,251.82. This change reflects updated assumptions on revenue growth, profit margins and a higher future P/E multiple.
MIDWESTLTD
₹1,347.40
Midwest
7D
1.2%
1Y
n/a
534076
₹412.35
RHI Magnesita India
7D
-4.6%
1Y
-11.8%
500292
₹167.25
HeidelbergCement India
7D
1.5%
1Y
-25.2%