Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Basic Materials Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies68
  • 7D1.6%
  • 3M-3.1%
  • 1Y7.6%
  • YTD0.5%

Over the last 7 days, the Basic Materials industry has remained flat, although notably UltraTech Cement gained 4.4%. The past year has been better, since the industry has gained 5.7% in that time. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026₹10.5t₹4.5t₹265.7b26.8x39.6x2.3x
Fri, 26 Dec 2025₹10.4t₹4.4t₹261.8b30.6x39.5x2.3x
Sun, 23 Nov 2025₹10.3t₹4.4t₹261.6b30.5x39.3x2.3x
Tue, 21 Oct 2025₹10.9t₹4.3t₹224.6b34.2x48.3x2.5x
Thu, 18 Sep 2025₹11.2t₹4.3t₹212.6b34.5x52.7x2.6x
Sat, 16 Aug 2025₹11.0t₹4.3t₹225.7b32.9x48.6x2.6x
Mon, 14 Jul 2025₹10.8t₹4.1t₹201.8b44.6x53.5x2.6x
Wed, 11 Jun 2025₹10.2t₹4.1t₹202.0b41.9x50.7x2.5x
Fri, 09 May 2025₹10.0t₹4.0t₹199.4b35x49.9x2.5x
Sun, 06 Apr 2025₹9.9t₹4.0t₹202.2b31x48.8x2.5x
Tue, 04 Mar 2025₹8.9t₹4.0t₹202.2b30.3x44.1x2.3x
Thu, 30 Jan 2025₹9.7t₹3.9t₹202.5b33.8x47.6x2.5x
Sat, 28 Dec 2024₹9.8t₹3.9t₹203.2b37.2x48x2.5x
Mon, 25 Nov 2024₹9.6t₹3.9t₹203.1b37.8x47.2x2.4x
Wed, 23 Oct 2024₹9.6t₹3.9t₹233.0b32.3x41.3x2.5x
Fri, 20 Sep 2024₹10.2t₹3.9t₹239.4b31.7x42.5x2.6x
Sun, 18 Aug 2024₹10.0t₹3.9t₹239.3b29.4x41.6x2.5x
Tue, 16 Jul 2024₹10.5t₹3.9t₹248.6b33.7x42.4x2.7x
Thu, 13 Jun 2024₹9.9t₹3.9t₹248.5b30.7x39.8x2.5x
Sat, 11 May 2024₹9.0t₹3.8t₹251.3b30.3x35.9x2.3x
Mon, 08 Apr 2024₹9.1t₹3.8t₹234.5b31.6x38.8x2.4x
Wed, 06 Mar 2024₹9.1t₹3.8t₹234.5b31.8x38.7x2.4x
Fri, 02 Feb 2024₹9.2t₹3.8t₹236.8b36.9x38.8x2.4x
Sun, 31 Dec 2023₹9.1t₹3.8t₹216.9b36.5x42.1x2.4x
Tue, 28 Nov 2023₹7.9t₹3.8t₹216.9b32.4x36.3x2.1x
Thu, 26 Oct 2023₹7.6t₹3.7t₹191.9b32.8x39.5x2x
Sat, 23 Sep 2023₹7.6t₹3.7t₹185.2b30.3x41.3x2.1x
Mon, 21 Aug 2023₹7.5t₹3.7t₹184.0b31.6x40.5x2x
Wed, 19 Jul 2023₹7.3t₹3.6t₹186.0b31.3x39.5x2.1x
Fri, 16 Jun 2023₹7.6t₹3.6t₹185.8b31.5x41.1x2.1x
Sun, 14 May 2023₹7.1t₹3.5t₹211.1b24.8x33.8x2x
Tue, 11 Apr 2023₹7.0t₹3.4t₹210.3b23.6x33.2x2x
Thu, 09 Mar 2023₹6.8t₹3.4t₹210.0b24.6x32.3x2x
Sat, 04 Feb 2023₹6.7t₹3.4t₹205.4b23.3x32.6x2x
Price to Earnings Ratio

32.6x


Total Market Cap: ₹6.7tTotal Earnings: ₹205.4bTotal 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 pessimistic on the Indian Basic Materials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 38.9x which is lower than its 3-year average PE 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 Market-0.64%
Materials1.41%
Basic Materials1.62%
Construction Materials1.62%
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₹12.77k4.4%
+₹157.7b		10.6%PE49x
GRASIM Grasim Industries₹2.84k3.8%
+₹70.2b		15.7%PE44.9x
SHREECEM Shree Cement₹27.48k0.4%
+₹4.0b		3.1%PE57.7x
532644 J.K. Cement₹5.67k0.5%
+₹2.3b		16.0%PE43x
500292 HeidelbergCement India₹170.554.7%
+₹1.7b		-22.1%PE30x

Latest News

540575
₹216.20
Star Cement
7D
1.5%
1Y
1.9%
RAMCOIND
₹304.15
Ramco Industries
7D
5.9%
1Y
23.7%
JSWCEMENT
₹112.95
JSW Cement
7D
-2.1%
1Y
n/a
ACC
₹1,684.30
ACC
7D
-1.9%
1Y
-15.9%

ACC: Leadership Transition And Upcoming Results Will Support Bullish Repricing

Analysts have trimmed their price target on ACC slightly to US$2,082.91 from US$2,096.06. This reflects small tweaks to assumptions on discount rate, long term revenue growth, profit margin and future P/E that keep their overall view broadly unchanged.
DALBHARAT
₹2,074.40
Dalmia Bharat
7D
-7.1%
1Y
11.7%

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
₹12,767.00
UltraTech Cement
7D
4.4%
1Y
10.6%

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).
500335
₹1,037.00
Birla
7D
-1.2%
1Y
-9.0%

500335: Upcoming Results And New Articles Will Create Long Term Entry Opportunity

Analysts have trimmed their fair value estimate for Birla from ₹1,508.08 to ₹1,487.31, as small changes in discount rate, revenue growth, profit margin and future P/E assumptions feed through to a slightly lower price target. What's in the News Board meeting scheduled on Jan 31, 2026 to consider and approve the standalone and consolidated unaudited financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
GRASIM
₹2,839.10
Grasim Industries
7D
3.8%
1Y
15.7%

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
₹445.10
India Cements
7D
-1.8%
1Y
59.8%
SHREECEM
₹27,480.00
Shree Cement
7D
0.4%
1Y
3.1%

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
₹1,066.80
Ramco Cements
7D
-1.5%
1Y
15.2%
500425
₹533.90
Ambuja Cements
7D
-0.9%
1Y
2.2%
532644
₹5,669.65
J.K. Cement
7D
0.5%
1Y
16.0%

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.
500338
₹122.05
Prism Johnson
7D
-4.7%
1Y
-11.6%
534076
₹423.75
RHI Magnesita India
7D
1.4%
1Y
-9.8%
500292
₹170.55
HeidelbergCement India
7D
4.7%
1Y
-22.1%