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Indian (NIFTY) Chemicals Industry Analysis

UpdatedJun 27, 2026
DataAggregated Company Financials
Companies357
  • 7D-1.4%
  • 3M19.2%
  • 1Y-5.3%
  • YTD2.8%

Over the last 7 days, the Chemicals industry has dropped 1.4%, driven by a pullback from Asian Paints of 3.2%. The industry has fallen 5.3% in the last year. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Jun 2026₹19.0t₹7.4t₹540.2b20.7x35.2x2.6x
Mon, 25 May 2026₹18.6t₹7.4t₹533.4b22.1x34.9x2.5x
Wed, 22 Apr 2026₹17.9t₹7.2t₹539.0b22.2x33.1x2.5x
Fri, 20 Mar 2026₹16.1t₹7.2t₹537.7b20.7x30x2.3x
Sun, 15 Feb 2026₹17.5t₹7.1t₹538.2b22.6x32.5x2.5x
Tue, 13 Jan 2026₹18.7t₹7.1t₹496.2b22.4x37.7x2.6x
Thu, 11 Dec 2025₹18.6t₹7.1t₹495.5b23.5x37.5x2.6x
Sat, 08 Nov 2025₹19.1t₹7.0t₹478.2b25.4x40x2.7x
Mon, 06 Oct 2025₹19.3t₹6.9t₹457.2b26.2x42.3x2.8x
Wed, 03 Sep 2025₹19.9t₹6.9t₹457.0b26.8x43.6x2.9x
Fri, 01 Aug 2025₹20.3t₹6.8t₹450.1b29.1x45.2x3x
Sun, 29 Jun 2025₹20.3t₹6.7t₹442.4b29.1x45.9x3x
Tue, 27 May 2025₹19.5t₹6.7t₹441.5b25.9x44.1x2.9x
Thu, 24 Apr 2025₹18.8t₹6.6t₹411.0b25.5x45.8x2.9x
Sat, 22 Mar 2025₹17.6t₹6.6t₹410.2b24.6x43x2.7x
Mon, 17 Feb 2025₹16.9t₹6.6t₹399.8b25.4x42.2x2.6x
Wed, 15 Jan 2025₹17.8t₹6.5t₹367.7b29.6x48.4x2.8x
Fri, 13 Dec 2024₹19.5t₹6.4t₹367.7b33.4x52.9x3x
Sun, 10 Nov 2024₹19.9t₹6.4t₹365.0b34.8x54.5x3.1x
Tue, 08 Oct 2024₹20.2t₹6.4t₹369.5b33.8x54.6x3.2x
Thu, 05 Sep 2024₹20.9t₹6.4t₹369.2b35.3x56.6x3.3x
Sat, 03 Aug 2024₹20.5t₹6.4t₹382.2b35.7x53.5x3.2x
Mon, 01 Jul 2024₹19.4t₹6.4t₹381.8b34.4x50.8x3x
Wed, 29 May 2024₹18.0t₹6.4t₹376.2b30.4x47.7x2.8x
Fri, 26 Apr 2024₹17.9t₹6.5t₹411.1b31.2x43.6x2.7x
Sun, 24 Mar 2024₹16.9t₹6.5t₹411.3b28.2x41.1x2.6x
Tue, 20 Feb 2024₹17.3t₹6.5t₹422.3b30.7x41.1x2.7x
Thu, 18 Jan 2024₹17.6t₹6.8t₹484.4b30.7x36.3x2.6x
Sat, 16 Dec 2023₹17.6t₹6.8t₹485.5b29.2x36.2x2.6x
Mon, 13 Nov 2023₹16.4t₹6.8t₹490.5b28.1x33.5x2.4x
Wed, 11 Oct 2023₹16.4t₹6.9t₹513.8b26.6x31.9x2.4x
Fri, 08 Sep 2023₹17.1t₹6.9t₹514.0b27.8x33.3x2.5x
Sun, 06 Aug 2023₹16.2t₹7.0t₹543.3b23.5x29.8x2.3x
Tue, 04 Jul 2023₹15.9t₹7.1t₹561.3b22.1x28.4x2.2x
Price to Earnings Ratio

28.4x


Total Market Cap: ₹15.9tTotal Earnings: ₹561.3bTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 41.6x202420252026
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 35.2x which is lower than its 3-year average PE of 41.6x.
  • 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 Market-0.48%
Materials-2.51%
Chemicals-1.44%
Diversified Chemicals1.09%
Fertilizers and Agricultural Chemicals-1.42%
Specialty Chemicals-1.80%
Commodity Chemicals-1.87%
Industrial Gases-5.89%
Industry PE
  • Investors are most optimistic about the Industrial Gases industry even though it's trading below its 3-year average PE ratio of 119x.
    • Analysts are expecting annual earnings growth of 17.9%, which is lower than the prior year's growth of 25.3% per year.
  • Investors are most pessimistic about the Fertilizers and Agricultural Chemicals industry, which is trading below its 3-year average of 33.1x.
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 9.6% per year.
  • In contrast, the Diversified Chemicals industry is expected to see its earnings grow by 14% 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
PIDILITIND Pidilite Industries₹1.60k1.1%
+₹17.4b		4.7%PE66.4x
FLUOROCHEM Gujarat Fluorochemicals₹3.91k1.8%
+₹7.6b		10.0%PE74.3x
503806 SRF₹2.73k0.8%
+₹6.7b		-13.8%PE44.1x
BASF BASF India₹3.65k4.2%
+₹6.4b		-28.5%PE38x
500027 Atul₹6.67k2.8%
+₹5.4b		-9.8%PE29x

Latest News

509480
₹538.25
Berger Paints India
7D
-2.4%
1Y
-7.9%
NOCIL
₹181.86
NOCIL
7D
14.4%
1Y
-6.6%
Narrative Update • Jun 26

NOCIL: Higher Margin Outlook Will Support Future Upside Potential

Analysts have lifted their fair value estimate for NOCIL from ₹217.00 to ₹311.03, citing an updated view that combines a slightly lower discount rate, adjusted revenue growth expectations, a higher projected profit margin and a modestly lower future P/E assumption. What's in the News for NOCIL NOCIL has announced an annual dividend of ₹1.50 per share, with a scheduled payment date of September 2, 2026, an ex-dividend date of July 24, 2026, and a record date also on July 24, 2026.
500027
₹6,673.35
Atul
7D
2.8%
1Y
-9.8%
PIDILITIND
₹1,597.00
Pidilite Industries
7D
1.1%
1Y
4.7%
Narrative Update • Jun 26

PIDILITIND: Future Dividend Policy Will Support A More Attractive Entry

Analysts have lowered their fair value estimate for Pidilite Industries from ₹2,615.67 to ₹1,915.00, citing updated assumptions around discount rate, revenue growth, profit margins and future P/E expectations. What’s in the News for Pidilite Industries A board meeting is scheduled for May 07, 2026, to consider and record audited financial results for the year ended March 31, 2026, and to consider a potential dividend recommendation on the company’s equity shares.
512070
₹590.50
UPL
7D
-2.8%
1Y
-8.4%
SUMICHEM
₹435.30
Sumitomo Chemical India
7D
-3.8%
1Y
-16.7%
Narrative Update • Jun 25

SUMICHEM: Future View Will Favour Stable Payout And Undervalued Upside

Analysts have maintained their fair value estimate for Sumitomo Chemical India at ₹555.33 per share, with only minor technical adjustments to inputs such as the discount rate, long-term revenue growth, profit margin assumptions, and future P/E, none of which materially change the overall price target narrative. What's in the News Sumitomo Chemical India scheduled a board meeting on May 26, 2026 to consider audited standalone and consolidated financial statements for the year ended March 31, 2026, and to review a potential dividend recommendation on equity shares for the 2025-26 financial year.
532504
₹7,607.45
Navin Fluorine International
7D
1.4%
1Y
57.8%
Narrative Update • Jun 24

532504: Upcoming Results And Dividend Decisions Will Guide Balanced Outlook

Analysts have nudged their price target for Navin Fluorine International slightly lower from ₹7,385.61 to ₹7,316.00, reflecting updated assumptions around discount rate, revenue growth, profit margin, and future P/E multiples. What’s in the News for Navin Fluorine International A board meeting is scheduled on April 29, 2026 to consider and approve the annual audited standalone and consolidated financial results for the year ending March 31, 2026, and to consider and recommend a final dividend for the 2025-2026 financial year.
SOLARINDS
₹17,428.00
Solar Industries India
7D
-3.5%
1Y
-0.3%
Narrative Update • Jun 24

SOLARINDS: Defence Export Wins Will Support Dividend And Upside Potential

Analysts have kept their fair value estimate for Solar Industries India steady at ₹20,131.92 per share, making only a minor adjustment to the discount rate and long term P/E assumptions. This reflects fine tuning of their models rather than a shift in overall conviction on the stock.
523642
₹2,684.05
PI Industries
7D
-4.3%
1Y
-35.4%
Narrative Update • Jun 24

523642: Leadership Change And Board Decisions Will Support Future Earnings Confidence

Analysts have revised their price target for PI Industries to ₹3,210.52 from ₹3,399.88, citing updated assumptions around revenue growth, profit margins, and a lower future P/E multiple. What’s in the News for PI Industries PI Industries held a Board Meeting on May 19, 2026 to consider and approve audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, along with the statutory auditors’ report.
500770
₹746.25
Tata Chemicals
7D
2.3%
1Y
-20.1%
Narrative Update • Jun 24

500770: Upcoming Results And Dividend Decision Will Expose Compressed Future Earnings Multiple

Analysts have maintained their fair value estimate for Tata Chemicals at ₹566.00, citing updated assumptions around discount rate, revenue growth, profit margin and future P/E as the key drivers behind the unchanged price target. What's in the News Tata Chemicals has scheduled a board meeting for May 4, 2026, to consider and approve the audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2026.
503806
₹2,731.90
SRF
7D
0.8%
1Y
-13.8%
Narrative Update • Jun 22

503806: Rich P/E And Softer Margins Will Likely Restrain Future Upside

Analysts have kept SRF's price target steady at ₹2,200, with the change in assumptions reflecting a lower discount rate, more moderate revenue growth and profit margin expectations, and a higher future P/E multiple to balance these factors. What's in the News for SRF SRF has scheduled a board meeting on May 5, 2026, to consider and approve the audited financial results for the quarter and year ended March 31, 2026.
BASF
₹3,652.40
BASF India
7D
4.2%
1Y
-28.5%
CARBORUNIV
₹1,143.30
Carborundum Universal
7D
-7.9%
1Y
18.7%
Narrative Update • Jun 17

CARBORUNIV: Modest FY 2026 Sales Guidance Will Pressure Overvalued Shares

Analysts have nudged their fair value estimate for Carborundum Universal slightly higher, with the price target moving from about ₹954 to roughly ₹960, reflecting updated assumptions on discount rate, profit margin, revenue growth and future P/E multiples. What's in the News for Carborundum Universal Carborundum Universal issued consolidated earnings guidance for fiscal year 2026, indicating an expectation for sales to grow by approximately 4% to 4.5%.
ASIANPAINT
₹2,645.20
Asian Paints
7D
-3.2%
1Y
12.1%
Narrative Update • Jun 17

ASIANPAINT: Dividend Payout And Board Review Will Shape Fairly Valued Outlook

Analysts have nudged their fair value estimate for Asian Paints higher from ₹2,818.22 to ₹2,848.14, reflecting small tweaks to the discount rate and future P/E assumptions, while keeping the underlying revenue growth and profit margin forecasts broadly unchanged. What’s in the News for Asian Paints Asian Paints held a board meeting on May 29, 2026, to consider and approve audited standalone financial results for the quarter and year ended March 31, 2026, source: company board agenda.
FLUOROCHEM
₹3,909.20
Gujarat Fluorochemicals
7D
1.8%
1Y
10.0%
Narrative Update • Jun 16

FLUOROCHEM: Board Meeting And Dividend Plans Will Shape Balanced Outlook

Analysts have lifted their price target for Gujarat Fluorochemicals from ₹3,660 to ₹3,897 as they factor in updated assumptions on fair value, discount rate, revenue growth, profit margin and a higher future P/E multiple. What's in the News for Gujarat Fluorochemicals Gujarat Fluorochemicals has scheduled a Board Meeting on May 26, 2026, to review and approve the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
523457
₹7,022.10
Linde India
7D
-6.1%
1Y
5.5%