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Indian (NIFTY) Commodity Chemicals Industry Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies152
  • 7D-5.7%
  • 3M-13.4%
  • 1Y-14.4%
  • YTDn/a

Over the last 7 days, the Commodity Chemicals industry has dropped 5.7%, driven by Solar Industries India declining 11%. In contrast, Gujarat Alkalies and Chemicals has gained 51%. The industry has fallen 14% in the last year. As for the next few years, earnings are expected to grow by 23% per annum.

Industry Valuation and Performance

Has the Indian Commodity Chemicals Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026₹4.0t₹2.2t₹135.8b18.4x29.7x1.8x
Thu, 19 Feb 2026₹4.5t₹2.2t₹134.0b19.6x33.9x2x
Sat, 17 Jan 2026₹4.9t₹2.2t₹140.8b18.9x34.8x2.2x
Mon, 15 Dec 2025₹4.9t₹2.3t₹141.7b20.9x34.7x2.2x
Wed, 12 Nov 2025₹5.3t₹2.2t₹143.2b23.3x37.1x2.4x
Fri, 10 Oct 2025₹5.5t₹2.2t₹143.1b23.4x38.2x2.4x
Sun, 07 Sep 2025₹5.5t₹2.2t₹143.0b23x38.5x2.5x
Tue, 05 Aug 2025₹5.6t₹2.2t₹143.1b24x39.2x2.5x
Thu, 03 Jul 2025₹6.0t₹2.2t₹147.1b24.3x40.7x2.7x
Sat, 31 May 2025₹5.8t₹2.2t₹148.4b23.4x39x2.6x
Mon, 28 Apr 2025₹5.2t₹2.2t₹135.2b22.7x38.4x2.4x
Wed, 26 Mar 2025₹4.9t₹2.2t₹135.3b21x36.5x2.3x
Fri, 21 Feb 2025₹4.8t₹2.2t₹125.7b22.3x38.3x2.2x
Sun, 19 Jan 2025₹5.2t₹2.1t₹118.5b27.3x43.9x2.5x
Tue, 17 Dec 2024₹5.8t₹2.1t₹118.4b28.8x48.6x2.7x
Thu, 14 Nov 2024₹5.3t₹2.1t₹113.7b28.6x47.1x2.6x
Sat, 12 Oct 2024₹6.1t₹2.1t₹116.8b29.2x52.4x2.9x
Mon, 09 Sep 2024₹6.1t₹2.1t₹116.9b29.5x52.3x2.9x
Wed, 07 Aug 2024₹5.7t₹2.1t₹115.9b28.4x49.4x2.8x
Fri, 05 Jul 2024₹5.9t₹2.1t₹121.3b29.7x49x2.9x
Sun, 02 Jun 2024₹5.1t₹2.1t₹117.4b25.9x43.1x2.4x
Tue, 30 Apr 2024₹5.2t₹2.1t₹136.8b28.6x37.7x2.5x
Thu, 28 Mar 2024₹4.8t₹2.1t₹136.9b24.5x35x2.3x
Sat, 24 Feb 2024₹4.8t₹2.1t₹148.3b25.9x32.1x2.3x
Mon, 22 Jan 2024₹4.8t₹2.1t₹156.9b24.7x30.7x2.3x
Wed, 20 Dec 2023₹4.7t₹2.1t₹157.4b23.9x29.9x2.2x
Fri, 17 Nov 2023₹4.4t₹2.1t₹156.1b23.5x28.3x2.2x
Sun, 15 Oct 2023₹4.4t₹2.1t₹169.7b22.4x26x2.1x
Tue, 12 Sep 2023₹4.5t₹2.1t₹169.6b23.7x26.7x2.2x
Thu, 10 Aug 2023₹4.1t₹2.1t₹178.5b20.8x22.7x1.9x
Sat, 08 Jul 2023₹3.8t₹2.1t₹181.2b19.7x21.1x1.8x
Mon, 05 Jun 2023₹3.7t₹2.1t₹181.3b18.8x20.2x1.7x
Wed, 03 May 2023₹3.5t₹2.2t₹210.5b14.7x16.9x1.6x
Fri, 31 Mar 2023₹3.3t₹2.2t₹207.8b12.4x16x1.5x
Price to Earnings Ratio

16x


Total Market Cap: ₹3.3tTotal Earnings: ₹207.8bTotal Revenue: ₹2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Commodity Chemicals Industry Price to Earnings3Y Average 35.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Commodity Chemicals 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 29.7x which is lower than its 3-year average PE of 35.8x.
  • The 3-year average PS ratio of 2.3x is higher than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Commodity Chemicals industry have declined 13% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Indian Commodity Chemicals compare with similar industries?

IN Market-3.57%
Materials-4.17%
Chemicals-3.98%
Commodity Chemicals-5.73%
Specialty Chemicals-2.99%
Diversified Chemicals-3.10%
Fertilizers and Agricultural Chemicals-3.70%
Industrial Gases-5.33%
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
GUJALKALI Gujarat Alkalies and Chemicals₹625.9551.1%
+₹15.6b		7.4%PS1.1x
506373 Citurgia Biochemicals₹203.3527.5%
+₹5.8b		n/aPE-4808x
506854 Tanfac Industries₹1.94k17.3%
+₹5.7b		31.3%PE51.8x
NOCIL NOCIL₹162.9512.2%
+₹2.9b		-9.9%PE45.8x
DHARIWAL Dhariwal₹43.108.7%
+₹2.2b		126.8%PE102.2x

Latest News

500165
₹161.25
Kansai Nerolac Paints
7D
-7.2%
1Y
-32.2%
GUJALKALI
₹625.95
Gujarat Alkalies and Chemicals
7D
51.1%
1Y
7.4%
DHARIWAL
₹43.10
Dhariwal
7D
8.7%
1Y
126.8%
NOCIL
₹162.95
NOCIL
7D
12.2%
1Y
-9.9%

NOCIL: Upcoming Board Decisions On Results And Dahej Expansion Will Support Upside

Analysts have maintained their price target for NOCIL at ₹217. Small adjustments to revenue growth, profit margin, and future P/E assumptions are viewed as offsetting each other, rather than leading to a clear change in fair value.
CARBORUNIV
₹764.00
Carborundum Universal
7D
1.5%
1Y
-23.6%

CARBORUNIV: New Hosur Capacity And Meeting Schedule Will Support Bullish Outlook

Analysts have kept their price target for Carborundum Universal broadly steady around ₹845, with only marginal tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E, which together feed into this unchanged view. What's in the News Commercial production of cutting and grinding wheels has started at the new Hosur facility, using production lines and technology acquired from DRONCO GmbH, Germany.
524370
₹54.99
Bodal Chemicals
7D
26.1%
1Y
-11.3%
FINPIPE
₹160.44
Finolex Industries
7D
-8.9%
1Y
-11.4%

FINPIPE: Upcoming Results Review Will Support Slightly More Optimistic Outlook

Analysts have nudged their price target on Finolex Industries slightly higher, with fair value moving from about ₹205.60 to roughly ₹206.87. This reflects updated assumptions around the discount rate, revenue growth, profit margins and future P/E outlook.
PCBL
₹233.15
PCBL Chemical
7D
-6.0%
1Y
-44.3%

PCBL: Board Timelines And Margin Assumptions Will Shape A Balanced Outlook

Analysts have trimmed their fair value estimate for PCBL Chemical to ₹254 from ₹340, reflecting more moderate assumptions for revenue growth, profit margins, and a higher future P/E multiple. What's in the News A board meeting is scheduled for February 3, 2026, at 11:30 Indian Standard Time to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
500870
₹173.85
Castrol India
7D
-6.8%
1Y
-16.7%
SOLARINDS
₹12,554.00
Solar Industries India
7D
-10.5%
1Y
16.5%

SOLARINDS: Defence Export Orders Will Drive Multi Year Upside Potential

Analysts have kept their fair value estimate for Solar Industries India steady at ₹16,696.67 per share, with only small tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions supporting the unchanged price target. What's in the News Solar Industries India and its subsidiary received export orders worth ₹8,300 million for defence products, with execution scheduled over four years under international contracts with significant terms and conditions for defence supplies to overseas clients (Key Developments).
506401
₹1,322.95
Deepak Nitrite
7D
-5.2%
1Y
-35.0%

506401: Upcoming Board Meeting Will Support Confidence In Future Earnings Outlook

Analysts have kept their fair value estimate for Deepak Nitrite broadly unchanged at about ₹1,758 per share, with small tweaks to inputs such as the discount rate and the assumed future P/E leading to only a marginal change in their price target rationale. What's in the News A board meeting is scheduled for Feb 12, 2026, to consider and approve standalone and consolidated unaudited financial results for the quarter and nine months ended Dec 31, 2025 (company board filing).
500770
₹609.05
Tata Chemicals
7D
-7.2%
1Y
-29.0%

500770: Greenfield Salt Expansion Will Support Upcoming Results-Driven Upside Potential

The analyst price target for Tata Chemicals has increased by about ₹3, with analysts attributing the change to small adjustments in fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Board meeting scheduled on Feb 2, 2026, at 14:00 Indian Standard Time to review unaudited consolidated and audited standalone financial results for the third quarter and nine months ended Dec 31, 2025 (company filing).
506854
₹1,943.95
Tanfac Industries
7D
17.3%
1Y
31.3%
506373
₹203.35
Citurgia Biochemicals
7D
27.5%
1Y
n/a
506480
₹264.45
GOCL
7D
14.1%
1Y
-5.4%
500655
₹3,524.25
Garware Hi-Tech Films
7D
-6.7%
1Y
-9.9%