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Indian (NIFTY) Chemicals Industry Analysis

UpdatedDec 29, 2025
DataAggregated Company Financials
Companies354
  • 7D1.0%
  • 3M-1.1%
  • 1Y-0.2%
  • YTD-0.6%

The Chemicals is pretty flat in the last 7 days, but Solar Industries India has stood out, gaining 4.4%. In line with that, the industry has also been flat over the past 12 months. 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
Mon, 29 Dec 2025₹18.8t₹7.1t₹495.4b23.3x38x2.6x
Wed, 26 Nov 2025₹19.0t₹7.1t₹495.6b23.9x38.3x2.7x
Fri, 24 Oct 2025₹19.4t₹6.9t₹458.2b26x42.3x2.8x
Sun, 21 Sep 2025₹20.0t₹6.9t₹457.0b27.2x43.7x2.9x
Tue, 19 Aug 2025₹20.0t₹6.9t₹456.5b26.9x43.8x2.9x
Thu, 17 Jul 2025₹20.4t₹6.8t₹444.4b29.8x46x3x
Sat, 14 Jun 2025₹19.8t₹6.7t₹442.4b27.6x44.7x2.9x
Mon, 12 May 2025₹18.2t₹6.7t₹421.5b24x43.2x2.7x
Wed, 09 Apr 2025₹17.3t₹6.6t₹410.2b24.3x42.1x2.6x
Fri, 07 Mar 2025₹17.0t₹6.6t₹410.2b25x41.5x2.6x
Sun, 02 Feb 2025₹18.1t₹6.5t₹397.4b27.9x45.4x2.8x
Tue, 31 Dec 2024₹18.3t₹6.4t₹367.6b31.1x49.8x2.8x
Thu, 28 Nov 2024₹19.1t₹6.4t₹367.7b32.4x51.9x3x
Sat, 26 Oct 2024₹19.4t₹6.4t₹366.8b32.4x52.8x3x
Mon, 23 Sep 2024₹21.1t₹6.4t₹369.5b36x57.2x3.3x
Wed, 21 Aug 2024₹20.3t₹6.4t₹368.7b34.8x55.1x3.2x
Fri, 19 Jul 2024₹20.0t₹6.3t₹377.5b35.1x52.9x3.1x
Sun, 16 Jun 2024₹19.0t₹6.4t₹382.5b33.1x49.7x3x
Tue, 14 May 2024₹17.5t₹6.4t₹383.8b29.9x45.7x2.7x
Thu, 11 Apr 2024₹17.8t₹6.5t₹410.6b30.3x43.2x2.7x
Sat, 09 Mar 2024₹17.1t₹6.5t₹411.0b29.8x41.6x2.6x
Mon, 05 Feb 2024₹17.2t₹6.7t₹454.1b30.8x37.8x2.6x
Wed, 03 Jan 2024₹18.2t₹6.8t₹485.5b30.3x37.4x2.7x
Fri, 01 Dec 2023₹16.8t₹6.8t₹485.5b28x34.7x2.5x
Sun, 29 Oct 2023₹15.9t₹6.9t₹518.1b26.7x30.6x2.3x
Tue, 26 Sep 2023₹16.7t₹6.9t₹513.5b27x32.5x2.4x
Thu, 24 Aug 2023₹16.2t₹6.9t₹514.5b26.3x31.4x2.3x
Sat, 22 Jul 2023₹16.1t₹7.1t₹562.4b22.2x28.7x2.3x
Mon, 19 Jun 2023₹16.0t₹7.1t₹561.2b22.5x28.5x2.3x
Wed, 17 May 2023₹15.4t₹7.1t₹615.0b20.2x25x2.2x
Fri, 14 Apr 2023₹14.7t₹7.0t₹616.0b20x23.9x2.1x
Sun, 12 Mar 2023₹14.5t₹7.0t₹614.1b19.6x23.6x2.1x
Tue, 07 Feb 2023₹14.4t₹6.8t₹614.4b19.8x23.4x2.1x
Thu, 05 Jan 2023₹15.3t₹6.7t₹618.1b20x24.8x2.3x
Price to Earnings Ratio

24.8x


Total Market Cap: ₹15.3tTotal Earnings: ₹618.1bTotal Revenue: ₹6.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 40.1x20242025
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 40.0x.
  • 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 2.2% 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 Market0.59%
Materials2.40%
Chemicals0.96%
Fertilizers and Agricultural Chemicals2.43%
Commodity Chemicals1.79%
Industrial Gases1.16%
Diversified Chemicals0.26%
Specialty Chemicals-0.51%
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 27.5%, 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 31.3x.
Forecasted Growth
  • Analysts are most optimistic on the Industrial Gases industry, expecting annual earnings growth of 28% 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
SOLARINDS Solar Industries India₹12.44k4.4%
+₹47.6b		22.1%PE85.2x
512070 UPL₹773.703.0%
+₹19.3b		54.1%PE31.8x
FACT Fertilisers and Chemicals Travancore₹888.653.0%
+₹16.6b		-7.6%PE553.6x
506401 Deepak Nitrite₹1.77k5.9%
+₹13.4b		-31.6%PE45x
EIDPARRY E.I.D.- Parry (India)₹1.07k6.8%
+₹12.2b		18.8%PE16.5x

Latest News

ASIANPAINT
₹2,746.50
Asian Paints
7D
-1.9%
1Y
20.9%

ASIANPAINT: Dividend Timelines And Margin Outlook Will Guide A Steady Near-Term View

Analysts have nudged their price target on Asian Paints modestly higher to reflect a slightly improved profit margin outlook and resilient long term earnings visibility, despite only marginal changes in the discount rate, revenue growth assumptions, and future valuation multiples. What's in the News Board meeting scheduled on January 27, 2026, to approve audited standalone and unaudited consolidated financial results for the quarter and nine months ended December 31, 2025, and to discuss other business matters (company filing).
SOLARINDS
₹12,437.00
Solar Industries India
7D
4.4%
1Y
22.1%

We Think Solar Industries India (NSE:SOLARINDS) Might Have The DNA Of A Multi-Bagger

Dec 26
We Think Solar Industries India (NSE:SOLARINDS) Might Have The DNA Of A Multi-Bagger
EPIGRAL
₹1,277.70
Epigral
7D
-8.0%
1Y
-32.3%

Returns On Capital At Epigral (NSE:EPIGRAL) Have Hit The Brakes

Dec 26
Returns On Capital At Epigral (NSE:EPIGRAL) Have Hit The Brakes
SUPREMEIND
₹3,273.10
Supreme Industries
7D
-2.8%
1Y
-31.5%

SUPREMEIND: Dividend And Governance Moves Will Shape Balanced Medium-Term Outlook

Analysts have trimmed their price target for Supreme Industries from ₹3,190.55 to ₹3,103.24, citing slightly higher required returns, modestly stronger growth expectations, and lower projected profit margins that together point to a richer earnings multiple but a marginally reduced fair value. What's in the News Board approves an interim dividend of INR 11 per share on a face value of INR 2, representing a 550 percent payout for FY 2025-26, with the record date set as November 3, 2025 (Key Developments) Board meeting scheduled for October 27, 2025 at 11:00 IST to review unaudited consolidated and standalone financial results for Q2 and H1 FY 2025-26 and to consider the declaration of an interim dividend on equity shares (Key Developments) Extraordinary shareholders meeting via postal ballot on November 11, 2025 to consider appointing Rajiv Jalota and Sriram Hariharan as non-executive independent directors and to address other business matters (Key Developments) Valuation Changes Fair Value: Reduced slightly from ₹3,190.55 to ₹3,103.24, indicating a marginally lower intrinsic price estimate per share.
500165
₹236.85
Kansai Nerolac Paints
7D
6.3%
1Y
-9.3%
532504
₹5,778.25
Navin Fluorine International
7D
-1.1%
1Y
74.4%
506285
₹4,551.15
Bayer CropScience
7D
5.6%
1Y
-21.4%

506285: Interim Dividend Decision Will Drive Bullish Momentum Into Next Year

Analysts have modestly raised their price target on Bayer CropScience by about €5, citing a slightly higher long term discount rate and valuation assumptions that leave fair value largely unchanged. What's in the News Board meeting scheduled for November 7, 2025, to review unaudited financial results for the quarter ended September 30, 2025 (Key Developments) Board to consider declaration of an interim dividend for the financial year 2025 to 2026 at the November 7, 2025 meeting (Key Developments) Record date for the proposed interim dividend to be fixed during the upcoming board meeting (Key Developments) Valuation Changes The discount rate has risen slightly from 13.34% to 13.35%, reflecting a marginally higher required return on equity.
512070
₹773.70
UPL
7D
3.0%
1Y
54.1%

512070: Future Margins Will Likely Deteriorate Despite Higher Market Expectations

Analysts have raised their price target for UPL from approximately 526.51 to 596.98, citing slightly stronger expectations for revenue growth and future valuation multiples, partly offset by a more conservative view on profit margins and discount rates. What's in the News UPL Limited has scheduled a board meeting for November 06, 2025 to consider and approve unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2025, along with the limited review reports from the statutory auditors (company filing).
506401
₹1,765.10
Deepak Nitrite
7D
5.9%
1Y
-31.6%

506401: Upcoming Board Review Will Reinforce Confidence In Stable Margins

Analysts have modestly trimmed their price target on Deepak Nitrite by recalibrating the discount rate and long term valuation assumptions. This has resulted in a slightly lower fair value estimate in rupee terms, while growth and margin expectations remain broadly unchanged.
CHAMBLFERT
₹473.50
Chambal Fertilisers and Chemicals
7D
6.3%
1Y
-5.2%

Chambal Fertilisers and Chemicals (NSE:CHAMBLFERT) Is Reinvesting To Multiply In Value

Dec 16
Chambal Fertilisers and Chemicals (NSE:CHAMBLFERT) Is Reinvesting To Multiply In Value
504092
₹661.10
Indokem
7D
-14.4%
1Y
527.4%
SHARDACROP
₹857.60
Sharda Cropchem
7D
-3.0%
1Y
9.7%

SHARDACROP: Improved Margins And Earnings Outlook Will Drive Stronger Share Performance

Analysts have raised their price target on Sharda Cropchem from ₹1,260 to ₹1,360, citing expectations of stronger revenue growth, improved profit margins and a slightly lower required return offsetting a modestly lower future P E multiple. What's in the News Board meeting scheduled for October 30, 2025, to review and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).
INDIGOPNTS
₹1,127.50
Indigo Paints
7D
-5.1%
1Y
-15.5%

INDIGOPNTS: Margins Are Expected To Expand And Support A Bullish Outlook

Analysts have trimmed their fair value estimate for Indigo Paints to ₹1,505 from ₹1,560, reflecting a modest recalibration in the target multiple, even as updated assumptions factor in slightly stronger revenue growth and margin expansion. What's in the News Board meeting scheduled for November 6, 2025, to review and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).
500655
₹3,137.95
Garware Hi-Tech Films
7D
-6.5%
1Y
-39.9%
FACT
₹888.65
Fertilisers and Chemicals Travancore
7D
3.0%
1Y
-7.6%

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
EIDPARRY
₹1,068.70
E.I.D.- Parry (India)
7D
6.8%
1Y
18.8%