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Indian (NIFTY) Basic Materials Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies65
  • 7D-1.1%
  • 3M2.2%
  • 1Y9.9%
  • YTD0.4%

Over the last 7 days, the Basic Materials industry has dropped 1.1%, driven by a pullback from UltraTech Cement of 1.5%. In the past year, the industry has gained 9.9%. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026₹10.5t₹4.6t₹247.6b26.1x42.4x2.3x
Mon, 19 Jan 2026₹10.6t₹4.5t₹262.8b27.8x40.4x2.4x
Wed, 17 Dec 2025₹10.2t₹4.4t₹261.8b29.7x39.1x2.3x
Fri, 14 Nov 2025₹10.5t₹4.5t₹261.7b31x40x2.3x
Sun, 12 Oct 2025₹10.9t₹4.3t₹212.6b33.6x51.1x2.5x
Tue, 09 Sep 2025₹11.1t₹4.3t₹212.6b33.6x52.3x2.6x
Thu, 07 Aug 2025₹10.8t₹4.2t₹221.8b40.7x48.6x2.6x
Sat, 05 Jul 2025₹10.8t₹4.1t₹201.8b45.9x53.8x2.6x
Mon, 02 Jun 2025₹10.0t₹4.1t₹201.8b41.9x49.4x2.4x
Wed, 30 Apr 2025₹10.1t₹4.0t₹199.9b33.6x50.5x2.5x
Fri, 28 Mar 2025₹9.7t₹4.0t₹202.2b30.2x48x2.5x
Sun, 23 Feb 2025₹9.3t₹4.0t₹202.2b33.5x46.1x2.4x
Tue, 21 Jan 2025₹9.3t₹3.9t₹203.1b37.2x46x2.4x
Thu, 19 Dec 2024₹10.1t₹3.9t₹203.2b38.6x49.8x2.6x
Sat, 16 Nov 2024₹9.4t₹3.9t₹203.2b37.3x46.3x2.4x
Mon, 14 Oct 2024₹10.0t₹3.9t₹239.4b32.8x41.7x2.5x
Wed, 11 Sep 2024₹10.2t₹3.9t₹239.3b33.5x42.8x2.6x
Fri, 09 Aug 2024₹9.9t₹3.9t₹243.2b31.5x40.7x2.5x
Sun, 07 Jul 2024₹10.5t₹3.9t₹248.6b33.2x42.3x2.7x
Tue, 04 Jun 2024₹9.7t₹3.9t₹243.7b29.5x39.6x2.5x
Thu, 02 May 2024₹9.4t₹3.8t₹246.3b34.1x38x2.4x
Sat, 30 Mar 2024₹9.0t₹3.8t₹234.4b30.1x38.2x2.3x
Mon, 26 Feb 2024₹9.2t₹3.8t₹234.5b33.8x39.2x2.4x
Wed, 24 Jan 2024₹8.8t₹3.8t₹226.5b37.8x38.7x2.3x
Fri, 22 Dec 2023₹8.8t₹3.8t₹216.9b36x40.7x2.3x
Sun, 19 Nov 2023₹8.0t₹3.8t₹216.5b32.8x36.9x2.1x
Tue, 17 Oct 2023₹7.9t₹3.7t₹185.2b31.8x42.7x2.2x
Thu, 14 Sep 2023₹7.9t₹3.7t₹185.2b31.9x42.9x2.2x
Sat, 12 Aug 2023₹7.5t₹3.7t₹186.5b34.3x40.5x2.1x
Mon, 10 Jul 2023₹7.4t₹3.6t₹185.8b30.9x39.8x2.1x
Wed, 07 Jun 2023₹7.5t₹3.6t₹185.8b31.8x40.5x2.1x
Fri, 05 May 2023₹7.0t₹3.5t₹199.4b25.2x35x2x
Sun, 02 Apr 2023₹6.9t₹3.4t₹210.3b22.3x32.6x2x
Tue, 28 Feb 2023₹6.5t₹3.4t₹210.0b24.6x31.2x1.9x
Price to Earnings Ratio

31.2x


Total Market Cap: ₹6.5tTotal Earnings: ₹210.0bTotal Revenue: ₹3.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Basic Materials Industry Price to Earnings3Y Average 42.5x202420252026
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 42.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Basic Materials industry have grown 5.6% 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 Market0.28%
Materials-0.19%
Basic Materials-1.15%
Construction Materials-1.15%
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
SHREECEM Shree Cement₹26.51k1.5%
+₹13.7b		-6.7%PE53.4x
532644 J.K. Cement₹5.74k2.6%
+₹11.1b		25.4%PE43.5x
534076 RHI Magnesita India₹458.554.9%
+₹4.4b		12.9%PE55.3x
JSWCEMENT JSW Cement₹121.932.1%
+₹3.4b		n/aPS2.6x
502157 Mangalam Cement₹893.1514.9%
+₹3.2b		22.7%PE30.5x

Latest News

534076
₹458.55
RHI Magnesita India
7D
4.9%
1Y
12.9%
500425
₹512.10
Ambuja Cements
7D
-1.4%
1Y
6.3%

500425: Senior Management Changes Will Set Up The Next Rally

Analysts have trimmed their price target on Ambuja Cements from about ₹662 to about ₹623, citing updated assumptions that include a lower future P/E multiple, as well as revised expectations for revenue growth, profit margins and discount rate. What's in the News A board meeting is scheduled for January 30, 2026, at 13:00 Indian Standard Time to consider and approve unaudited financial results for the quarter and nine months ended December 31, 2025, and to review senior management appointments (company filing).
532644
₹5,744.45
J.K. Cement
7D
2.6%
1Y
25.4%

532644: Upcoming Capacity Expansion And Board Review Will Support Future Upside

Analysts have left their fair value estimate for J.K. Cement unchanged at ₹6,599. A slightly lower discount rate and a marginally reduced forward P/E assumption suggest they see a similar earnings path as before, but with a modestly adjusted risk profile.
ULTRACEMCO
₹12,766.00
UltraTech Cement
7D
-1.5%
1Y
14.4%
GRASIM
₹2,832.80
Grasim Industries
7D
-1.9%
1Y
16.5%
ACC
₹1,612.60
ACC
7D
-1.5%
1Y
-14.4%

ACC: Leadership Changes And Upcoming Results Will Support Bullish Repricing

Analysts have trimmed their price target for ACC to about ₹2,005 from roughly ₹2,083, reflecting slightly lower fair value and profit margin assumptions, partly offset by a modestly reduced discount rate and adjustments to future P/E expectations. What's in the News ACC has scheduled a board meeting on January 28, 2026, at 11:00 Indian Standard Time to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2025, and to approve changes in Senior Management Personnel (company filing).
DALBHARAT
₹2,070.00
Dalmia Bharat
7D
-3.3%
1Y
18.8%

DALBHARAT: Upcoming Board Results Will Likely Disappoint Given Rich Earnings Multiple

Analysts have made a marginal upward revision to their fair value estimate for Dalmia Bharat to ₹1,961, reflecting slightly adjusted assumptions around discount rate, revenue growth, profit margin and future P/E multiples. 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 (Key Developments).
RAMCOCEM
₹1,113.70
Ramco Cements
7D
-2.7%
1Y
30.7%
500335
₹1,012.95
Birla
7D
-3.6%
1Y
0.3%

500335: Upcoming Results Will Create Attractive Long Term Entry Opportunity

Analysts have lowered their fair value estimate for Birla from ₹1,487.31 to ₹1,339.54. This change reflects updated assumptions for the discount rate, revenue growth, profit margin and future P/E that indicate a more measured outlook on the stock.
502157
₹893.15
Mangalam Cement
7D
14.9%
1Y
22.7%
500338
₹125.00
Prism Johnson
7D
3.9%
1Y
2.6%
500380
₹711.20
JK Lakshmi Cement
7D
0.6%
1Y
0.2%

500380: Upcoming Board Meeting Will Support Constructive Outlook On Earnings And Margins

Analysts have trimmed their price target on JK Lakshmi Cement from ₹995.00 to about ₹906.53, reflecting updated views on a slightly higher discount rate, revised revenue growth and profit margin assumptions, and a higher future P/E multiple. What's in the News Board meeting scheduled for Feb 3, 2026, to consider and approve unaudited financial results for the quarter ended Dec 31, 2025 (company filing).
SHREECEM
₹26,510.00
Shree Cement
7D
1.5%
1Y
-6.7%

SHREECEM: Resolved Baloda Bazar Lockout Will Support Future Earnings Rebound

Analysts have trimmed their fair value estimate for Shree Cement to ₹35,697 from ₹38,433, reflecting updated views on its revenue growth assumptions, profit margins and expected 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, and the company withdrew the lockout effective 22 December 2025 at 11:00 PM (company filing).
JSWCEMENT
₹121.93
JSW Cement
7D
2.1%
1Y
n/a

JSW Cement Limited (NSE:JSWCEMENT) Not Lagging Industry On Growth Or Pricing

Feb 06
JSW Cement Limited (NSE:JSWCEMENT) Not Lagging Industry On Growth Or Pricing
INDIACEM
₹423.20
India Cements
7D
-4.3%
1Y
63.5%
502090
₹201.20
Sagar Cements
7D
2.8%
1Y
4.4%