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Indian (NIFTY) Chemicals Industry Analysis

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies357
  • 7D0.3%
  • 3M11.3%
  • 1Y-5.5%
  • YTD0.9%

The Chemicals industry has stayed flat over the last week. As for the longer term, the industry has declined 7.0% in the last year. 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
Wed, 10 Jun 2026₹18.7t₹7.4t₹539.1b20.8x34.6x2.5x
Fri, 08 May 2026₹18.6t₹7.2t₹522.6b22.6x35.6x2.6x
Sun, 05 Apr 2026₹16.1t₹7.2t₹538.7b20.1x29.9x2.2x
Tue, 03 Mar 2026₹17.3t₹7.2t₹537.8b22.1x32.1x2.4x
Thu, 29 Jan 2026₹17.9t₹7.1t₹503.0b22.3x35.5x2.5x
Sat, 27 Dec 2025₹18.8t₹7.1t₹495.4b23.3x38x2.6x
Mon, 24 Nov 2025₹19.2t₹7.1t₹495.5b24.6x38.7x2.7x
Wed, 22 Oct 2025₹19.5t₹6.9t₹458.2b25.8x42.6x2.8x
Fri, 19 Sep 2025₹20.0t₹6.9t₹457.0b27.2x43.7x2.9x
Sun, 17 Aug 2025₹19.8t₹6.9t₹456.5b26.3x43.3x2.9x
Tue, 15 Jul 2025₹20.2t₹6.8t₹443.8b28.9x45.5x3x
Thu, 12 Jun 2025₹19.9t₹6.7t₹442.1b28.6x45.1x3x
Sat, 10 May 2025₹18.2t₹6.6t₹417.5b24x43.6x2.7x
Mon, 07 Apr 2025₹17.4t₹6.6t₹410.2b24.5x42.5x2.6x
Wed, 05 Mar 2025₹16.3t₹6.6t₹410.2b23.5x39.8x2.5x
Fri, 31 Jan 2025₹17.8t₹6.5t₹372.6b28.4x47.8x2.7x
Sun, 29 Dec 2024₹18.6t₹6.4t₹367.6b31.5x50.5x2.9x
Tue, 26 Nov 2024₹18.8t₹6.4t₹367.7b31.4x51.1x2.9x
Thu, 24 Oct 2024₹19.8t₹6.4t₹366.6b34.2x54.1x3.1x
Sat, 21 Sep 2024₹21.1t₹6.4t₹369.5b36x57.2x3.3x
Mon, 19 Aug 2024₹20.1t₹6.4t₹368.7b33.7x54.4x3.1x
Wed, 17 Jul 2024₹20.2t₹6.3t₹381.1b35.2x52.9x3.2x
Fri, 14 Jun 2024₹18.8t₹6.4t₹382.5b32.4x49.1x3x
Sun, 12 May 2024₹17.4t₹6.5t₹384.6b29.7x45.3x2.7x
Tue, 09 Apr 2024₹17.6t₹6.5t₹410.6b30.5x42.9x2.7x
Thu, 07 Mar 2024₹16.9t₹6.5t₹411.0b29.2x41.2x2.6x
Sat, 03 Feb 2024₹17.2t₹6.7t₹481.8b30.7x35.6x2.5x
Mon, 01 Jan 2024₹18.0t₹6.8t₹485.5b29.9x37.1x2.7x
Wed, 29 Nov 2023₹16.7t₹6.7t₹483.9b28.1x34.5x2.5x
Fri, 27 Oct 2023₹15.7t₹6.9t₹516.1b26.2x30.5x2.3x
Sun, 24 Sep 2023₹16.7t₹6.9t₹513.5b27x32.5x2.4x
Tue, 22 Aug 2023₹15.9t₹6.9t₹514.5b25.4x31x2.3x
Thu, 20 Jul 2023₹16.1t₹7.1t₹562.2b22.3x28.7x2.3x
Sat, 17 Jun 2023₹16.0t₹7.1t₹561.2b22.5x28.5x2.3x
Price to Earnings Ratio

28.5x


Total Market Cap: ₹16.0tTotal Earnings: ₹561.2bTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 41.5x202420252026
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 34.1x which is lower than its 3-year average PE of 41.5x.
  • 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-0.68%
Materials-2.52%
Chemicals0.26%
Specialty Chemicals0.32%
Fertilizers and Agricultural Chemicals0.29%
Commodity Chemicals0.27%
Diversified Chemicals0.25%
Industrial Gases-0.45%
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 17.9%, 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 33.0x.
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 Specialty 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₹2.71k1.8%
+₹45.5b		22.0%PE60.1x
500184 Himadri Speciality Chemical₹679.2511.6%
+₹35.6b		38.5%PE45.6x
PIDILITIND Pidilite Industries₹1.48k1.9%
+₹27.7b		-3.8%PE61.6x
523642 PI Industries₹2.87k4.5%
+₹18.9b		-27.0%PE32.9x
COROMANDEL Coromandel International₹1.81k2.8%
+₹14.4b		-22.5%PE27.3x

Latest News

503806
₹2,685.85
SRF
7D
-2.2%
1Y
-13.1%
523642
₹2,865.00
PI Industries
7D
4.5%
1Y
-27.0%
Narrative Update • Jun 07

523642: Dividend Outlook And Margin Strength Will Support Future Bullish Thesis

Analysts now place PI Industries' fair value at about ₹4,708.65 compared with the prior ₹4,831.97. This reflects updated views on faster revenue growth of roughly 20.61%, stronger profit margins near 21.40%, and a lower future P/E assumption close to 40.32x.
532504
₹6,825.05
Navin Fluorine International
7D
-3.3%
1Y
56.0%
Narrative Update • Jun 06

532504: Upcoming Results And Dividend Decisions Will Shape Measured Outlook

Analysts have nudged their fair value estimate for Navin Fluorine International slightly higher from ₹7,319.83 to ₹7,385.61, citing updated assumptions around revenue growth, profit margins and future P/E levels. What's in the News The Board of Directors has recommended a final dividend of ₹8.60 per equity share with a face value of ₹2 for the financial year 2025-2026, subject to shareholder approval at the 28th Annual General Meeting on 6 August 2026.
COROMANDEL
₹1,807.10
Coromandel International
7D
2.8%
1Y
-22.5%
Narrative Update • Jun 06

COROMANDEL: Upcoming Board Actions Will Support Re Rated Upside Potential

Analysts have maintained their price target for Coromandel International at ₹2,353, with only minor tweaks to discount rate, revenue growth, profit margin and future P/E inputs, reflecting updated assumptions rather than a change in overall view. What's in the News A board meeting is scheduled for March 30, 2026 to consider the redesignation of Mr. Narayanan Vellayan from Whole Time Director, Strategic Sourcing to Executive Director, Nutrient Business, and to note related senior management changes, effective April 20, 2026.
506285
₹4,288.05
Bayer CropScience
7D
-3.9%
1Y
-21.0%
Narrative Update • Jun 05

506285: Dividend Outlook And Updated Assumptions Will Support A Positive Future

Analysts have adjusted their price target for Bayer CropScience slightly lower from ₹5,209.63 to ₹5,163.00, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Bayer CropScience has scheduled a Board Meeting for May 26, 2026, to consider and record the audited financial results for the quarter and financial year ended March 31, 2026, and to consider a recommendation for a final dividend for the 2025-26 financial year, if any.
SOLARINDS
₹18,267.00
Solar Industries India
7D
-0.6%
1Y
8.0%
Narrative Update • Jun 03

SOLARINDS: Defence Export Orders And Dividend Outlook Will Support Fair Value

Analysts have raised the price target for Solar Industries India to about ₹20,132 from roughly ₹16,697, citing updated assumptions that include a lower discount rate, slightly different expectations for revenue growth, higher profit margin forecasts, and a modestly reduced future P/E multiple. What's in the News Solar Industries India and its subsidiary received export orders worth ₹10,760 million for supply of defence products to international clients, with deliveries scheduled over 3 years.
SOTL
₹568.05
Savita Oil Technologies
7D
29.8%
1Y
30.8%
512070
₹627.05
UPL
7D
-2.4%
1Y
-1.9%
Narrative Update • Jun 02

512070: Upcoming Governance Meetings Will Support Stronger Medium Term Re-Rating

Analysts have trimmed their fair value estimate for UPL slightly from ₹776.22 to ₹767.00, as modest adjustments to the discount rate and forward P/E assumptions offset essentially unchanged revenue growth and profit margin expectations. What's in the News Board meeting scheduled for May 11, 2026, at 11:15 IST to consider and approve audited consolidated and standalone financial results for the year ended March 31, 2026, and to consider recommending a dividend, if any (source: company board meeting notice).
524208
₹440.35
Aarti Industries
7D
-6.2%
1Y
-8.6%
Narrative Update • Jun 02

524208: Long Term Supply Deals Will Support Margins While Shares Remain Exposed

Analysts have nudged their fair value estimate for Aarti Industries up from about ₹399.79 to roughly ₹415.45, citing updated assumptions around revenue growth, profit margins, and future P/E expectations. What's in the News A Board Meeting is scheduled for May 4, 2026, to consider and approve audited financial results for the quarter ended March 31, 2026, and audited financial statements for the full financial year ended March 31, 2026.
ASIANPAINT
₹2,708.10
Asian Paints
7D
1.8%
1Y
22.0%
Narrative Update • Jun 01

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

Analysts have lifted their price target for Asian Paints from ₹2,654.74 to ₹2,818.22, citing updated assumptions around revenue growth, profit margins, and a slightly lower future P/E multiple. What's in the News A board meeting is scheduled for May 29, 2026 to review audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to consider a final dividend recommendation for the year.
500645
₹1,517.90
Deepak Fertilisers And Petrochemicals
7D
8.0%
1Y
-2.4%
Narrative Update • Jun 01

500645: Recent Stake Acquisition Will Support Future Upside

Analysts have kept the price target for Deepak Fertilisers And Petrochemicals steady at ₹2,000, citing updated assumptions of lower revenue growth and profit margins, along with a higher future P/E, which are reflected in slightly adjusted discount rate inputs. What's in the News Board meeting scheduled for May 28, 2026 to consider audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to consider recommending a dividend on equity shares for FY 2025-26.
500184
₹679.25
Himadri Speciality Chemical
7D
11.6%
1Y
38.5%
Narrative Update • Jun 01

500184: High Performance Memory Supply Chain Risks May Fail To Support Premium

Analysts have kept their fair value estimate for Himadri Speciality Chemical steady at ₹550, indicating only marginal tweaks in assumptions such as discount rate, revenue growth, profit margin and future P/E as they reassess the stock in light of evolving competitive positioning in high performance computing supply chains. Analyst Commentary Analysts are looking at Himadri Speciality Chemical through the lens of how high performance computing and advanced memory trends could shape long term demand for its specialty chemical portfolio, particularly as global supply chains adapt to new platforms such as Nvidia's Vera Rubin.
PIDILITIND
₹1,481.80
Pidilite Industries
7D
1.9%
1Y
-3.8%
Narrative Update • May 30

PIDILITIND: Fair Outlook Will Depend On Upcoming Dividend Decision

Analysts have raised their fair value estimate for Pidilite Industries from ₹1,549.84 to ₹1,620.05, citing updated assumptions for revenue growth, profit margins, a slightly adjusted discount rate, and a lower future P/E multiple of 66.15x compared with 71.54x previously. What's in the News A board meeting is scheduled on May 7, 2026 to consider audited financial results for the year ended March 31, 2026 and to consider a dividend recommendation on equity shares (company filing).
FLUOROCHEM
₹3,578.80
Gujarat Fluorochemicals
7D
-2.1%
1Y
-2.8%
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
₹461.75
Sumitomo Chemical India
7D
-5.3%
1Y
-9.6%
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).
500655
₹6,214.55
Garware Hi-Tech Films
7D
5.7%
1Y
40.6%