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Indian (NIFTY) Chemicals Industry Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies356
  • 7D-1.4%
  • 3M-2.9%
  • 1Y3.6%
  • YTD-0.9%

Over the last 7 days, the Chemicals industry has dropped 1.4%, driven by a pullback from Solar Industries India of 3.4%. This takes the industry's 12 month performance to a gain of 3.6%. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026₹18.7t₹7.1t₹496.2b22.6x37.8x2.6x
Sat, 13 Dec 2025₹18.7t₹7.1t₹495.5b23.4x37.7x2.6x
Mon, 10 Nov 2025₹19.1t₹7.0t₹478.4b25.3x40x2.7x
Wed, 08 Oct 2025₹19.3t₹6.9t₹457.5b25.9x42.1x2.8x
Fri, 05 Sep 2025₹20.0t₹6.9t₹457.0b26.2x43.7x2.9x
Sun, 03 Aug 2025₹20.1t₹6.8t₹454.8b28.4x44.1x2.9x
Tue, 01 Jul 2025₹20.5t₹6.7t₹443.2b29.3x46.4x3x
Thu, 29 May 2025₹19.6t₹6.7t₹445.8b26x43.9x2.9x
Sat, 26 Apr 2025₹18.5t₹6.6t₹410.2b24.9x45.1x2.8x
Mon, 24 Mar 2025₹17.6t₹6.6t₹410.2b24.6x43x2.7x
Wed, 19 Feb 2025₹16.7t₹6.6t₹400.1b24.7x41.6x2.5x
Fri, 17 Jan 2025₹18.0t₹6.5t₹368.1b29.6x48.9x2.8x
Sun, 15 Dec 2024₹19.4t₹6.4t₹367.7b33.2x52.8x3x
Tue, 12 Nov 2024₹19.4t₹6.4t₹365.4b33.7x53.1x3x
Thu, 10 Oct 2024₹20.7t₹6.4t₹369.5b34.7x56x3.2x
Sat, 07 Sep 2024₹21.0t₹6.4t₹363.8b34.9x57.6x3.3x
Mon, 05 Aug 2024₹20.5t₹6.4t₹370.1b36.1x55.3x3.2x
Wed, 03 Jul 2024₹19.7t₹6.4t₹381.8b34.3x51.5x3.1x
Fri, 31 May 2024₹17.8t₹6.4t₹374.1b28.7x47.5x2.8x
Sun, 28 Apr 2024₹18.0t₹6.5t₹406.9b31.1x44.2x2.8x
Tue, 26 Mar 2024₹16.9t₹6.5t₹411.3b28.2x41.1x2.6x
Thu, 22 Feb 2024₹17.4t₹6.5t₹422.4b30.1x41.1x2.7x
Sat, 20 Jan 2024₹17.7t₹6.8t₹487.9b30.6x36.2x2.6x
Mon, 18 Dec 2023₹17.6t₹6.8t₹485.5b29.2x36.2x2.6x
Wed, 15 Nov 2023₹16.5t₹6.7t₹490.0b28.2x33.7x2.4x
Fri, 13 Oct 2023₹16.6t₹6.9t₹513.8b26.9x32.4x2.4x
Sun, 10 Sep 2023₹17.1t₹6.9t₹514.0b27.8x33.3x2.5x
Tue, 08 Aug 2023₹16.2t₹7.0t₹541.8b24.1x29.9x2.3x
Thu, 06 Jul 2023₹16.0t₹7.1t₹561.3b22.7x28.6x2.3x
Sat, 03 Jun 2023₹15.5t₹7.1t₹566.3b20.8x27.4x2.2x
Mon, 01 May 2023₹15.1t₹6.9t₹615.2b20.5x24.5x2.2x
Wed, 29 Mar 2023₹13.9t₹7.0t₹614.1b18.1x22.6x2x
Fri, 24 Feb 2023₹14.3t₹7.0t₹614.0b19.2x23.3x2x
Sun, 22 Jan 2023₹14.7t₹6.7t₹618.7b19.5x23.8x2.2x
Price to Earnings Ratio

23.8x


Total Market Cap: ₹14.7tTotal Earnings: ₹618.7bTotal Revenue: ₹6.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 40.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Chemicals 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 40.2x.
  • The industry is trading close to its 3-year average PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Chemicals industry have declined 7.1% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.1% 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, which has decreased profits.

Industry Trends

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

IN Market-2.45%
Materials-1.89%
Chemicals-1.45%
Industrial Gases0.52%
Specialty Chemicals-0.14%
Diversified Chemicals-1.23%
Fertilizers and Agricultural Chemicals-2.38%
Commodity Chemicals-2.51%
Industry PE
  • Investors are most optimistic about the Industrial Gases industry even though it's trading below its 3-year average PE ratio of 117x.
    • Analysts are expecting annual earnings growth of 27.3%, which is lower than the prior year's growth of 44.4% per year.
  • Investors are most pessimistic about the Fertilizers and Agricultural Chemicals industry, which is trading below its 3-year average of 31.5x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Gases industry, expecting annual earnings growth of 27% over the next 5 years.
  • However this is lower than its past earnings growth rate of 44% per year.
  • In contrast, the Specialty Chemicals industry is expected to see its earnings grow by 17% 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
532504 Navin Fluorine International₹6.03k3.6%
+₹10.9b		62.1%PE69.6x
523457 Linde India₹6.07k1.7%
+₹8.9b		1.6%PE100.9x
530999 Balaji Amines₹1.27k18.0%
+₹6.2b		-26.1%PE28.1x
506767 Alkyl Amines Chemicals₹1.64k6.7%
+₹5.3b		-6.2%PE45x
NEOGEN Neogen Chemicals₹1.32k16.0%
+₹5.1b		-33.6%PE143.3x

Latest News

530999
₹1,265.35
Balaji Amines
7D
18.0%
1Y
-26.1%
503806
₹3,029.80
SRF
7D
-2.1%
1Y
21.6%
CHEMPLASTS
₹274.90
Chemplast Sanmar
7D
9.9%
1Y
-41.3%
SUPREMEIND
₹3,485.20
Supreme Industries
7D
-3.9%
1Y
-20.4%
PIDILITIND
₹1,495.30
Pidilite Industries
7D
-1.3%
1Y
6.7%
SOLARINDS
₹12,875.00
Solar Industries India
7D
-3.4%
1Y
35.1%

SOLARINDS: Defence Export Orders Will Support Multi Year Upside

Analysts have nudged their fair value estimate for Solar Industries India slightly higher to ₹17,167 from ₹17,146, reflecting updated assumptions regarding the discount rate, long-term revenue growth, profit margins, and future P/E multiples. What's in the News Solar Industries India and its subsidiary received export orders worth ₹14,000 million for defence products, with deliveries scheduled over 4 years to international clients (company announcement).
SUMICHEM
₹430.20
Sumitomo Chemical India
7D
-6.4%
1Y
-9.8%

SUMICHEM: Upcoming Board Review And Steady Assumptions Will Support Upside Potential

Analysts have trimmed their fair value estimate for Sumitomo Chemical India by about ₹5 to ₹578.83, reflecting slightly higher assumed risk and a modestly lower future P/E multiple in their updated model. What's in the News A board meeting is scheduled on January 27, 2026, to review the standalone unaudited financial results for the quarter and nine months ended December 31, 2025 (company filing).
ASIANPAINT
₹2,813.90
Asian Paints
7D
0.2%
1Y
26.2%

ASIANPAINT: Dividend Payouts And Stable Assumptions Will Shape A Balanced Near-Term View

Analysts have maintained their fair value estimate for Asian Paints at ₹2,803.17 per share. They cited only slight adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions, which did not materially change their overall price target view.
506767
₹1,641.50
Alkyl Amines Chemicals
7D
6.7%
1Y
-6.2%

506767: Remuneration Decisions And Revised Assumptions Will Support Future Upside Potential

Analysts have reduced their price target on Alkyl Amines Chemicals from ₹2,031 to ₹1,835, citing slightly lower assumptions for revenue growth, profit margins, discount rate, and future P/E multiples in their models. What's in the News A special or extraordinary shareholders meeting is scheduled for December 20, 2025, via postal ballot in India to consider revising the remuneration of Whole Time Director Operations, Mr. Rakesh S.
532504
₹6,027.60
Navin Fluorine International
7D
3.6%
1Y
62.1%

532504: Interim Dividend And Postal Ballot Will Shape A Steady Outlook

Analysts have lifted their fair value estimate for Navin Fluorine International from ₹5,771.52 to ₹5,918.88, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E that together slightly adjust the risk reward profile they see for the stock. What's in the News The Board of Directors declared an interim dividend of ₹6.50 per equity share of face value ₹2 for the 2025 to 2026 financial year, with a record date of November 7, 2025 and payment on or after November 27, 2025 (company filing).
NEOGEN
₹1,315.90
Neogen Chemicals
7D
16.0%
1Y
-33.6%

NEOGEN: Steady Fair Value And Upcoming Results Will Support Upside

Analysts have kept their fair value estimate for Neogen Chemicals steady at ₹1,812.29 per share, with only marginal adjustments to the discount rate, revenue growth, profit margin and future P/E inputs that are too small to materially change the target at this time. What's in the News Board meeting scheduled for November 8, 2025, at 14:30 Indian Standard Time to review and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).
FLUOROCHEM
₹3,397.80
Gujarat Fluorochemicals
7D
-3.2%
1Y
-9.3%

FLUOROCHEM: IFC Investment In Battery Materials Project Will Support Long-Term Upside

Analysts have lifted their fair value estimate for Gujarat Fluorochemicals from ₹4,903 to ₹5,019, citing updated assumptions for slightly lower discount rates, higher revenue growth, stronger profit margins and a reduced future P/E multiple. What's in the News IFC, a member of the World Bank Group, is investing US$50 million in GFCL EV Products Limited through compulsorily convertible instruments to support what is described as India's first integrated battery materials facility, focused on battery chemicals with backward integration into key raw materials (Key Developments).
512070
₹780.45
UPL
7D
-2.9%
1Y
42.7%

512070: Small Assumption Tweaks Will Likely Fail To Prevent Margin Pressure

Analysts have slightly increased their fair value estimate for UPL from ₹596.98 to ₹600.67. This reflects small adjustments to assumptions around the discount rate, revenue growth, profit margins and future P/E multiples.
FACT
₹852.85
Fertilisers and Chemicals Travancore
7D
-2.4%
1Y
-5.0%

Fertilisers and Chemicals Travancore (NSE:FACT) Has A Pretty Healthy Balance Sheet

Nov 20
Fertilisers and Chemicals Travancore (NSE:FACT) Has A Pretty Healthy Balance Sheet
590013
₹1,019.95
Xpro India
7D
12.2%
1Y
-22.8%
523457
₹6,069.85
Linde India
7D
1.7%
1Y
1.6%