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Indian (NIFTY) Chemicals Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies359
  • 7D-1.6%
  • 3M-12.7%
  • 1Y-8.3%
  • YTD-12.7%

Over the last 7 days, the Chemicals industry has dropped 3.2%, driven by Pidilite Industries declining 4.1%. In contrast, Supreme Petrochem has gained 11%. The industry has fallen 11% in the last year. 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
Thu, 02 Apr 2026₹16.2t₹7.2t₹538.7b19.7x30x2.3x
Sat, 28 Feb 2026₹17.3t₹7.1t₹536.0b22x32.2x2.4x
Mon, 26 Jan 2026₹17.8t₹7.1t₹503.8b21.9x35.3x2.5x
Wed, 24 Dec 2025₹19.0t₹7.1t₹495.4b23.8x38.3x2.7x
Fri, 21 Nov 2025₹19.3t₹7.1t₹495.5b24.9x39x2.7x
Sun, 19 Oct 2025₹19.4t₹6.9t₹457.7b25.6x42.4x2.8x
Tue, 16 Sep 2025₹19.9t₹6.9t₹457.0b27x43.5x2.9x
Thu, 14 Aug 2025₹19.8t₹6.9t₹458.4b26.4x43.2x2.9x
Sat, 12 Jul 2025₹20.4t₹6.8t₹443.6b29x46x3x
Mon, 09 Jun 2025₹19.8t₹6.7t₹442.7b27.6x44.8x2.9x
Wed, 07 May 2025₹18.3t₹6.6t₹415.1b24.1x44.1x2.8x
Fri, 04 Apr 2025₹17.8t₹6.6t₹410.2b24.8x43.3x2.7x
Sun, 02 Mar 2025₹16.2t₹6.6t₹410.1b23.2x39.6x2.5x
Tue, 28 Jan 2025₹17.3t₹6.5t₹369.6b27.8x46.9x2.7x
Thu, 26 Dec 2024₹18.7t₹6.4t₹367.6b32.1x50.8x2.9x
Sat, 23 Nov 2024₹18.6t₹6.4t₹367.7b31.4x50.7x2.9x
Mon, 21 Oct 2024₹20.6t₹6.4t₹367.7b36x56x3.2x
Wed, 18 Sep 2024₹21.3t₹6.4t₹369.1b36.3x57.6x3.3x
Fri, 16 Aug 2024₹19.8t₹6.4t₹367.0b34.1x54x3.1x
Sun, 14 Jul 2024₹20.1t₹6.3t₹380.7b34.8x52.8x3.2x
Tue, 11 Jun 2024₹18.2t₹6.3t₹367.9b31.4x49.5x2.9x
Thu, 09 May 2024₹17.6t₹6.5t₹387.2b30.2x45.4x2.7x
Sat, 06 Apr 2024₹17.6t₹6.5t₹410.6b30.1x42.9x2.7x
Mon, 04 Mar 2024₹17.1t₹6.5t₹410.6b30.5x41.6x2.6x
Wed, 31 Jan 2024₹17.1t₹6.8t₹488.4b30.3x35.1x2.5x
Fri, 29 Dec 2023₹17.9t₹6.8t₹485.5b30.1x37x2.7x
Sun, 26 Nov 2023₹16.7t₹6.7t₹483.9b27.9x34.5x2.5x
Tue, 24 Oct 2023₹16.1t₹6.9t₹515.8b26.7x31.3x2.3x
Thu, 21 Sep 2023₹16.7t₹6.9t₹513.6b27.2x32.5x2.4x
Sat, 19 Aug 2023₹15.9t₹6.9t₹485.6b25.9x32.8x2.3x
Mon, 17 Jul 2023₹15.9t₹7.1t₹561.6b22x28.3x2.2x
Wed, 14 Jun 2023₹15.8t₹7.1t₹561.1b21.8x28.1x2.2x
Fri, 12 May 2023₹15.4t₹7.1t₹607.9b20.2x25.4x2.2x
Sun, 09 Apr 2023₹14.4t₹7.0t₹616.0b19.7x23.4x2.1x
Price to Earnings Ratio

23.4x


Total Market Cap: ₹14.4tTotal Earnings: ₹616.0bTotal Revenue: ₹7.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 40.9x202420252026
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 28.9x which is lower than its 3-year average PE of 40.9x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Chemicals industry have declined 4.4% 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 Market-2.14%
Materials-0.87%
Chemicals-1.65%
Commodity Chemicals-1.33%
Specialty Chemicals-1.43%
Fertilizers and Agricultural Chemicals-1.48%
Diversified Chemicals-2.08%
Industrial Gases-4.55%
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 17.8%, 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 32.3x.
Forecasted Growth
  • Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings growth rate of 9.2% per year.
  • In contrast, the Industrial Gases industry is expected to see its earnings grow by 18% 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
500405 Supreme Petrochem₹740.2510.6%
+₹13.4b		19.5%PE52x
506285 Bayer CropScience₹4.73k5.1%
+₹10.3b		-1.9%PE31.7x
500027 Atul₹6.43k3.2%
+₹5.9b		10.2%PE31.8x
CHAMBLFERT Chambal Fertilisers and Chemicals₹446.203.2%
+₹5.5b		-29.6%PE9.3x
DCMSHRIRAM DCM Shriram₹1.15k2.9%
+₹5.1b		6.9%PE27.7x

Latest News

500405
₹740.25
Supreme Petrochem
7D
10.6%
1Y
19.5%
CHAMBLFERT
₹446.20
Chambal Fertilisers and Chemicals
7D
3.2%
1Y
-29.6%

CHAMBLFERT: Higher Future P E And Board Review Will Support Upside

Analysts have kept their fair value estimate for Chambal Fertilisers and Chemicals steady at ₹559.50. However, slightly lower revenue growth and profit margin assumptions have been offset by a higher future P/E multiple, so the updated target reflects a more valuation-driven view than before.
500027
₹6,427.05
Atul
7D
3.2%
1Y
10.2%
ASIANPAINT
₹2,225.80
Asian Paints
7D
-2.0%
1Y
-3.5%

ASIANPAINT: Refined Discount Rate And P/E Assumptions Will Support Constructive Near-Term Outlook

Analysts have trimmed their price target on Asian Paints slightly to about ₹2,731 from roughly ₹2,752, reflecting refreshed inputs for fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Valuation Changes Fair Value: Trimmed slightly from ₹2,752.20 to ₹2,731.49, a reduction of about 0.8%.
532504
₹6,029.00
Navin Fluorine International
7D
-2.9%
1Y
42.0%

532504: Board Vote On Independent Director Will Support A More Positive Outlook

Analysts have slightly increased their price target on Navin Fluorine International to around ₹6,981 from roughly ₹6,961. This reflects fine tuned assumptions on discount rate, revenue growth, profit margin and future P/E rather than any major shift in outlook.
523642
₹2,845.30
PI Industries
7D
-2.1%
1Y
-18.8%

523642: Future Earnings Strength Will Sustain Confidence As Tax Demand Is Contested

Analysts have slightly adjusted the price target for PI Industries from about ₹3,421.75 to around ₹3,399.88, reflecting refreshed assumptions on discount rate, revenue growth, profit margin and future P/E multiples. What's in the News A board meeting is scheduled on Feb 12, 2026, at 14:00 Indian Standard Time to review unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025, and to consider an interim dividend for FY 2025-26 (company filing).
509480
₹417.80
Berger Paints India
7D
-1.8%
1Y
-17.3%

509480: Fair Value View Will Await February Results Board Meeting Outcome

Analysts have trimmed their price target on Berger Paints India from ₹433.52 to ₹400.00 as they adjust assumptions around discount rates, revenue growth, profit margins, and the future P/E multiple used in their valuation work. What's in the News A board meeting is scheduled for Feb 05, 2026 to consider and approve unaudited financial results for the quarter and nine months ended Dec 31, 2025 (Key Developments).
PIDILITIND
₹1,307.00
Pidilite Industries
7D
-4.1%
1Y
-8.3%

“Pidilite: Strong Business, But Crude Changed the Story”

Earlier the stock was around ₹1,460 , and at that time it was trading at a very high valuation because margins were strong and stable. The market was assuming that EBITDA margins will continue around 22–23% without much pressure.
PARADEEP
₹115.92
Paradeep Phosphates
7D
3.4%
1Y
3.3%

PARADEEP: Leadership Transitions And Higher Borrowing Capacity Will Support Future Upside

Analysts have maintained the fair value estimate for Paradeep Phosphates at ₹167.5 per share, updating assumptions around discount rate, revenue growth, profit margin and future P/E as fine-tuning rather than a change in their overall view of the stock’s valuation. What's in the News A board meeting is scheduled for Feb 02, 2026 at 15:30 Indian Standard Time to consider unaudited financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
512070
₹594.60
UPL
7D
-4.9%
1Y
-9.1%

512070: Fair Pricing Will Rely On Execution Of Upcoming Restructuring Steps

Analysts have nudged their price target on UPL slightly higher to about ₹648 from roughly ₹641, citing updated assumptions around revenue growth, profit margins, a modestly lower discount rate, and a small adjustment to the expected future P/E multiple. What's in the News UPL has scheduled a board meeting on Feb 02, 2026 at 12:45 Indian Standard Time to consider and approve unaudited consolidated and standalone financial results for the quarter and nine months ended Dec 31, 2025, along with limited review reports from the statutory auditors (Key Developments).
506285
₹4,731.40
Bayer CropScience
7D
5.1%
1Y
-1.9%

506285: Upcoming Results And Stable Assumptions Will Support A Positive Outlook

Analysts have marginally revised their price target for Bayer CropScience to ₹5,187, reflecting small tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E, rather than any major shift in the outlook. What's in the News A board meeting is scheduled for February 11, 2026, to review and consider the unaudited financial results for the quarter ended December 31, 2025 (Key Developments).
500123
₹8,314.70
ELANTAS Beck India
7D
6.1%
1Y
-16.1%
523457
₹7,005.45
Linde India
7D
-4.6%
1Y
12.3%
COROMANDEL
₹1,918.70
Coromandel International
7D
-4.8%
1Y
-6.4%

Coromandel International (NSE:COROMANDEL) Has Announced A Dividend Of ₹9.00

Feb 01
Coromandel International (NSE:COROMANDEL) Has Announced A Dividend Of ₹9.00
DCMSHRIRAM
₹1,151.90
DCM Shriram
7D
2.9%
1Y
6.9%

DCM Shriram (NSE:DCMSHRIRAM) Has Announced A Dividend Of ₹3.60

Jan 23
DCM Shriram (NSE:DCMSHRIRAM) Has Announced A Dividend Of ₹3.60
MBAPL
₹504.80
Madhya Bharat Agro Products
7D
8.5%
1Y
80.6%

Madhya Bharat Agro Products (NSE:MBAPL) Is Very Good At Capital Allocation

Jan 15
Madhya Bharat Agro Products (NSE:MBAPL) Is Very Good At Capital Allocation