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Indian (NIFTY) Chemicals Industry Analysis

UpdatedMay 30, 2026
DataAggregated Company Financials
Companies358
  • 7D0.3%
  • 3M7.9%
  • 1Y-3.3%
  • YTD0.9%

The Chemicals industry has been flat over the last week, but Gujarat Fluorochemicals has lost 5.3%. Unfortunately though, the industry is down 3.3% 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
Sat, 30 May 2026₹18.7t₹7.4t₹529.3b22.2x35.3x2.5x
Mon, 27 Apr 2026₹17.8t₹7.2t₹540.4b22.2x32.9x2.5x
Wed, 25 Mar 2026₹16.1t₹7.2t₹538.7b20x29.8x2.2x
Fri, 20 Feb 2026₹17.5t₹7.1t₹536.3b22.6x32.6x2.5x
Sun, 18 Jan 2026₹18.5t₹7.1t₹495.5b22.7x37.3x2.6x
Tue, 16 Dec 2025₹18.7t₹7.1t₹495.4b23.8x37.8x2.6x
Thu, 13 Nov 2025₹19.4t₹7.1t₹480.2b25.1x40.4x2.7x
Sat, 11 Oct 2025₹19.2t₹6.9t₹457.2b25.9x42.1x2.8x
Mon, 08 Sep 2025₹19.8t₹6.9t₹457.0b26x43.4x2.9x
Wed, 06 Aug 2025₹20.3t₹6.8t₹452.8b28.6x44.9x3x
Fri, 04 Jul 2025₹20.6t₹6.8t₹443.5b28.8x46.5x3.1x
Sun, 01 Jun 2025₹19.5t₹6.7t₹443.5b26.6x43.9x2.9x
Tue, 29 Apr 2025₹18.6t₹6.6t₹410.6b24.9x45.3x2.8x
Thu, 27 Mar 2025₹17.6t₹6.6t₹410.2b23.6x42.8x2.7x
Sat, 22 Feb 2025₹17.0t₹6.6t₹400.4b25.2x42.4x2.6x
Mon, 20 Jan 2025₹18.1t₹6.5t₹368.8b29.6x49.1x2.8x
Wed, 18 Dec 2024₹19.3t₹6.4t₹367.7b32.5x52.4x3x
Fri, 15 Nov 2024₹18.6t₹6.4t₹366.3b32.4x50.8x2.9x
Sun, 13 Oct 2024₹20.7t₹6.4t₹369.5b34.7x56.1x3.2x
Tue, 10 Sep 2024₹21.0t₹6.4t₹363.9b35.5x57.6x3.3x
Thu, 08 Aug 2024₹20.3t₹6.4t₹369.5b35.3x55x3.2x
Sat, 06 Jul 2024₹20.0t₹6.4t₹381.4b35.4x52.5x3.1x
Mon, 03 Jun 2024₹17.7t₹6.4t₹374.1b28.8x47.2x2.8x
Wed, 01 May 2024₹18.1t₹6.5t₹392.0b31.1x46.2x2.8x
Fri, 29 Mar 2024₹16.8t₹6.5t₹411.3b27.7x41x2.6x
Sun, 25 Feb 2024₹17.4t₹6.5t₹410.3b30.5x42.3x2.7x
Tue, 23 Jan 2024₹17.7t₹6.8t₹488.2b30.4x36.2x2.6x
Thu, 21 Dec 2023₹17.2t₹6.8t₹485.5b28.9x35.5x2.5x
Sat, 18 Nov 2023₹16.8t₹6.7t₹484.3b28.5x34.7x2.5x
Mon, 16 Oct 2023₹16.6t₹6.9t₹513.9b27.4x32.3x2.4x
Wed, 13 Sep 2023₹16.7t₹6.9t₹513.6b27.3x32.6x2.4x
Fri, 11 Aug 2023₹16.1t₹7.0t₹527.7b25.1x30.4x2.3x
Sun, 09 Jul 2023₹15.9t₹7.1t₹561.3b22.9x28.4x2.2x
Tue, 06 Jun 2023₹15.6t₹7.1t₹561.2b21.3x27.7x2.2x
Price to Earnings Ratio

27.7x


Total Market Cap: ₹15.6tTotal Earnings: ₹561.2bTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 41.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian 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 35.3x which is lower than its 3-year average PE of 41.4x.
  • The industry is trading close to its 3-year average PS ratio of 2.7x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Chemicals industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

IN Market0.43%
Materials0.41%
Chemicals0.34%
Commodity Chemicals1.23%
Specialty Chemicals0.057%
Diversified Chemicals0.037%
Fertilizers and Agricultural Chemicals-0.13%
Industrial Gases-0.24%
Industry PE
  • Investors are most optimistic about the Industrial Gases industry even though it's trading below its 3-year average PE ratio of 118x.
    • Analysts are expecting annual earnings growth of 17.6%, which is lower than the prior year's growth of 33.5% per year.
  • Investors are most pessimistic about the Fertilizers and Agricultural Chemicals industry, which is trading below its 3-year average of 32.9x.
Forecasted Growth
  • Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 9.8% per year.
  • In contrast, the Diversified Chemicals industry is expected to see its earnings grow by 15% 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
ASIANPAINT Asian Paints₹2.67k1.2%
+₹30.5b		18.3%PE66.6x
503806 SRF₹2.72k3.1%
+₹24.1b		-4.9%PE43.9x
500655 Garware Hi-Tech Films₹6.11k14.1%
+₹17.5b		30.2%PE41.9x
SUMICHEM Sumitomo Chemical India₹501.556.9%
+₹16.1b		-1.0%PE46.1x
512070 UPL₹646.752.2%
+₹12.0b		3.0%PE28.4x

Latest News

ASIANPAINT
₹2,671.60
Asian Paints
7D
1.2%
1Y
18.3%
SOLARINDS
₹18,247.00
Solar Industries India
7D
0.6%
1Y
13.3%
JUBLINGREA
₹646.20
Jubilant Ingrevia
7D
-11.2%
1Y
-8.0%
500645
₹1,411.00
Deepak Fertilisers And Petrochemicals
7D
-4.3%
1Y
-4.9%
FLUOROCHEM
₹3,629.00
Gujarat Fluorochemicals
7D
-5.3%
1Y
2.1%
Analysis Article • May 29

Earnings Miss: Gujarat Fluorochemicals Limited Missed EPS By 11% And Analysts Are Revising Their Forecasts

Gujarat Fluorochemicals Limited ( NSE:FLUOROCHEM ) shareholders are probably feeling a little disappointed, since its...
SUMICHEM
₹501.55
Sumitomo Chemical India
7D
6.9%
1Y
-1.0%
Narrative Update • May 27

SUMICHEM: Future View To Balance Stable Fair Value And Dividend Outlook

Analysts have kept the price target for Sumitomo Chemical India broadly unchanged at about ₹524, citing slightly moderated revenue growth assumptions, a modestly higher profit margin outlook near 20% and a small adjustment to the future P/E multiple around 43x as the key drivers behind the stable valuation. What's in the News A board meeting was held on May 26, 2026 to consider audited standalone and consolidated financial statements for the year ended March 31, 2026, and to discuss a possible dividend recommendation for FY 2025-26 (Key Developments).
506655
₹936.85
Sudarshan Chemical Industries
7D
-7.7%
1Y
-20.9%
Narrative Update • May 27

Sudarshan Chemical Industries will embrace revenue growth with potential price recovery

One correction to the paragraph on Q1 FY27 monitoring: the narrative says "₹8-9 million Business EBITDA per month." That is three times the FY27 guidance. The correct threshold is EUR 8-9 million for the quarter, consistent with EUR 35 million annually.
500339
₹188.10
Rain Industries
7D
20.1%
1Y
33.4%
ANURAS
₹1,293.90
Anupam Rasayan India
7D
-5.3%
1Y
28.8%
Narrative Update • May 25

ANURAS: Planned Debt Issuance Will Sustain An Unfavorable Risk Profile

Analysts have lifted their price target on Anupam Rasayan India from ₹625 to ₹640, citing updated assumptions around discount rate, revenue growth, profit margin and future P/E as the key drivers of this change. What's in the News A board meeting is scheduled for May 23, 2026 at 12:45 IST to review and approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to consider a final dividend on equity shares for FY 2025-26 (company filing).
503806
₹2,718.75
SRF
7D
3.1%
1Y
-4.9%
Narrative Update • May 22

503806: Expanded Capital Outlay And Dividend Potential Will Support Future Upside

Analysts have trimmed their fair value estimate for SRF from about ₹3,155.83 to ₹2,990.35, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E expectations. What's in the News Board meeting scheduled for May 5, 2026, to consider and approve audited financial results for the quarter and year ended March 31, 2026 (company filing).
506401
₹1,682.50
Deepak Nitrite
7D
-3.2%
1Y
-17.0%
512070
₹646.75
UPL
7D
2.2%
1Y
3.0%
Narrative Update • May 18

512070: Upcoming Governance Meetings Will Support Stronger Medium Term Outlook

Analysts have trimmed their price target on UPL from ₹811.50 to ₹776.22, citing revised assumptions around profit margins, a higher future P/E multiple, and updated views on discount rates and revenue growth. What's in the News UPL has scheduled an Analyst/Investor Day, providing an opportunity to hear directly from management about the business and capital allocation plans.
500710
₹3,151.25
JSW Dulux
7D
8.9%
1Y
-5.7%
Narrative Update • May 17

500710: Upcoming Governance Decisions And ESOP Scheme Will Drive Future Upside

Analysts have adjusted the JSW Dulux price target from ₹3,500 to ₹3,350 after incorporating updated assumptions for the discount rate, revenue growth, profit margin and a lower future P/E, bringing the valuation closer to their latest fundamental view. What's in the News Board meeting scheduled for May 13, 2026, to review audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
DCMSHRIRAM
₹1,036.70
DCM Shriram
7D
-6.8%
1Y
-3.6%
COROMANDEL
₹1,753.60
Coromandel International
7D
-3.6%
1Y
-23.4%
Analysis Article • May 15

Coromandel International's (NSE:COROMANDEL) Anemic Earnings Might Be Worse Than You Think

Last week's earnings announcement from Coromandel International Limited ( NSE:COROMANDEL ) was disappointing to...
500655
₹6,106.70
Garware Hi-Tech Films
7D
14.1%
1Y
30.2%