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Indian (NIFTY) Chemicals Industry Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies357
  • 7D4.9%
  • 3M7.6%
  • 1Y4.3%
  • YTD2.0%

In the last week, the Chemicals industry is up 4.9%, with Asian Paints up 6.4%. This takes the industry's 12 month performance to a gain of 4.3%. Looking forward, earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 09 May 2026₹18.9t₹7.2t₹520.2b23x36.2x2.6x
Mon, 06 Apr 2026₹16.1t₹7.2t₹538.7b20.1x29.9x2.2x
Wed, 04 Mar 2026₹16.9t₹7.2t₹537.8b21.5x31.5x2.4x
Fri, 30 Jan 2026₹17.6t₹7.1t₹502.2b22.2x35.1x2.5x
Sun, 28 Dec 2025₹18.8t₹7.1t₹495.4b23.3x38x2.6x
Tue, 25 Nov 2025₹19.0t₹7.1t₹495.6b23.9x38.3x2.7x
Thu, 23 Oct 2025₹19.5t₹6.9t₹458.2b25.8x42.6x2.8x
Sat, 20 Sep 2025₹20.0t₹6.9t₹457.0b27.2x43.7x2.9x
Mon, 18 Aug 2025₹19.8t₹6.9t₹456.5b26.3x43.3x2.9x
Wed, 16 Jul 2025₹20.4t₹6.8t₹444.0b29.5x46x3x
Fri, 13 Jun 2025₹19.8t₹6.7t₹442.1b27.9x44.7x2.9x
Sun, 11 May 2025₹18.2t₹6.6t₹420.8b24x43.3x2.7x
Tue, 08 Apr 2025₹16.9t₹6.6t₹410.2b23.3x41.2x2.6x
Thu, 06 Mar 2025₹16.7t₹6.6t₹410.2b24x40.7x2.5x
Sat, 01 Feb 2025₹18.1t₹6.5t₹373.3b28x48.4x2.8x
Mon, 30 Dec 2024₹18.6t₹6.4t₹367.6b31.5x50.5x2.9x
Wed, 27 Nov 2024₹18.9t₹6.4t₹367.7b31.9x51.5x2.9x
Fri, 25 Oct 2024₹19.7t₹6.4t₹367.3b33.5x53.7x3.1x
Sun, 22 Sep 2024₹21.1t₹6.4t₹369.5b36x57.2x3.3x
Tue, 20 Aug 2024₹20.2t₹6.4t₹368.7b34.6x54.7x3.2x
Thu, 18 Jul 2024₹20.2t₹6.3t₹381.3b35.2x52.9x3.2x
Sat, 15 Jun 2024₹19.0t₹6.4t₹382.5b33.4x49.7x3x
Mon, 13 May 2024₹17.4t₹6.4t₹383.9b29.7x45.4x2.7x
Wed, 10 Apr 2024₹17.5t₹6.5t₹410.6b30.2x42.6x2.7x
Fri, 08 Mar 2024₹16.9t₹6.5t₹411.0b29.8x41.2x2.6x
Sun, 04 Feb 2024₹17.2t₹6.7t₹458.4b30.8x37.5x2.6x
Tue, 02 Jan 2024₹18.1t₹6.8t₹485.5b29.9x37.3x2.7x
Thu, 30 Nov 2023₹16.8t₹6.7t₹483.9b27.9x34.6x2.5x
Sat, 28 Oct 2023₹15.7t₹6.9t₹518.5b26.8x30.3x2.3x
Mon, 25 Sep 2023₹16.7t₹6.9t₹513.5b27x32.5x2.4x
Wed, 23 Aug 2023₹16.1t₹6.9t₹514.5b25.7x31.3x2.3x
Fri, 21 Jul 2023₹16.2t₹7.1t₹562.4b22.3x28.7x2.3x
Sun, 18 Jun 2023₹16.0t₹7.1t₹561.2b22.5x28.5x2.3x
Tue, 16 May 2023₹15.4t₹7.1t₹615.8b20.3x25x2.2x
Price to Earnings Ratio

25x


Total Market Cap: ₹15.4tTotal Earnings: ₹615.8bTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 41.2x202420252026
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 36.2x which is lower than its 3-year average PE of 41.2x.
  • 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 5.5% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 Market2.14%
Materials3.60%
Chemicals4.89%
Diversified Chemicals7.46%
Industrial Gases6.65%
Commodity Chemicals5.80%
Specialty Chemicals4.82%
Fertilizers and Agricultural Chemicals1.74%
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 35.0% per year.
  • Investors are most pessimistic about the Fertilizers and Agricultural Chemicals industry, which is trading below its 3-year average of 32.7x.
Forecasted Growth
  • Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 25% 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 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
ASIANPAINT Asian Paints₹2.60k6.4%
+₹149.1b		13.1%PE64.9x
PIDILITIND Pidilite Industries₹1.48k7.3%
+₹102.1b		-0.9%PE61.3x
503806 SRF₹2.78k10.4%
+₹77.5b		-7.5%PE44.9x
SOLARINDS Solar Industries India₹16.11k4.3%
+₹60.3b		19.4%PE100.4x
509480 Berger Paints India₹516.009.1%
+₹50.3b		-3.9%PE57.1x

Latest News

SOLARINDS
₹16,105.00
Solar Industries India
7D
4.3%
1Y
19.4%
SUMICHEM
₹485.55
Sumitomo Chemical India
7D
15.8%
1Y
-3.1%
PIDILITIND
₹1,476.00
Pidilite Industries
7D
7.3%
1Y
-0.9%
506854
₹2,177.25
Tanfac Industries
7D
-13.7%
1Y
44.7%
COROMANDEL
₹1,927.60
Coromandel International
7D
-2.7%
1Y
-17.7%
500655
₹5,273.50
Garware Hi-Tech Films
7D
32.4%
1Y
64.9%
500770
₹782.10
Tata Chemicals
7D
-3.4%
1Y
-4.3%
Narrative Update • May 07

500770: Upcoming Results And Dividend Decision Will Highlight Earnings Multiple Risk

Analysts keep the fair value for Tata Chemicals steady at ₹566, citing updated assumptions that include a slightly lower discount rate, modestly higher revenue growth, a higher profit margin, and a reduced future P/E, which together support the unchanged price target. What's in the News A board meeting is scheduled for May 4, 2026, to consider and approve audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2026 (Key Developments).
503806
₹2,780.75
SRF
7D
10.4%
1Y
-7.5%
524208
₹485.30
Aarti Industries
7D
-4.3%
1Y
7.5%
509480
₹516.00
Berger Paints India
7D
9.1%
1Y
-3.9%
Narrative Update • May 04

509480: Trimmed Fair Value Will Highlight Risk From Lower Future P/E

Analysts have trimmed their fair value estimate for Berger Paints India from ₹400 to about ₹388, citing updated assumptions on the discount rate, revenue growth, profit margin and future P/E. Taken together, these factors point to a slightly lower price target, while the underlying expectations remain broadly similar.
PARADEEP
₹124.88
Paradeep Phosphates
7D
-3.2%
1Y
-12.0%
Narrative Update • May 02

PARADEEP: Board Decisions And Stable Assumptions Will Shape Measured Future Upside

Analysts have kept their ₹132 price target for Paradeep Phosphates unchanged, citing small adjustments to the discount rate, revenue growth assumptions, profit margin forecasts, and a slightly different forward P/E input as reasons for maintaining their view. What's in the News A board meeting is scheduled for May 11, 2026, to consider and approve audited financial results for the quarter and year ended March 31, 2026, and to consider recommending a dividend for the 2025-26 year (company filing).
506285
₹4,608.85
Bayer CropScience
7D
-3.4%
1Y
-0.2%
Narrative Update • May 01

506285: Stable Assumptions And Upcoming Results Will Shape A Balanced Outlook

Analysts have maintained their fair value estimate for Bayer CropScience at ₹5,209.63 per share, making only minor adjustments to assumptions such as discount rate, revenue growth, profit margin and future P/E. This suggests that their overall view on the stock's long-term potential remains broadly unchanged.
ASIANPAINT
₹2,599.90
Asian Paints
7D
6.4%
1Y
13.1%
Narrative Update • Apr 23

ASIANPAINT: Updated Assumptions Will Shape Balanced Outlook For Fairly Valued Shares

Analysts have trimmed their price target on Asian Paints to ₹2,656 from ₹2,689, citing updated assumptions that now reflect slightly lower revenue growth expectations, a marginally higher discount rate, a modest improvement in profit margin, and a small adjustment to the future P/E multiple. Valuation Changes Fair Value: Price target trimmed slightly to ₹2,656 from ₹2,689.
GUJALKALI
₹746.55
Gujarat Alkalies and Chemicals
7D
-6.8%
1Y
22.4%
523457
₹7,806.30
Linde India
7D
6.7%
1Y
28.4%
SUDEEPPHRM
₹658.00
Sudeep Pharma
7D
-7.0%
1Y
n/a