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Indian (NIFTY) Chemicals Industry Analysis

UpdatedSep 22, 2026
DataAggregated Company Financials
Companies366
  • 7D-1.6%
  • 3M-1.1%
  • 1Y-3.0%
  • YTD2.4%

Over the last 7 days, the Chemicals industry has dropped 1.6%, driven by a pullback from Tata Chemicals of 8.2%. However, the industry is down 3.0% over the past year. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 22 Sep 2026₹19.0t₹7.7t₹594.0b20.7x32x2.5x
Thu, 20 Aug 2026₹19.6t₹7.7t₹595.0b19.6x33x2.5x
Sat, 18 Jul 2026₹19.3t₹7.4t₹540.4b21.5x35.7x2.6x
Mon, 15 Jun 2026₹18.8t₹7.4t₹539.1b20.6x34.9x2.5x
Wed, 13 May 2026₹18.2t₹7.3t₹526.4b22.2x34.5x2.5x
Fri, 10 Apr 2026₹16.9t₹7.2t₹538.7b21.1x31.3x2.4x
Sun, 08 Mar 2026₹16.8t₹7.2t₹537.8b21.2x31.3x2.3x
Tue, 03 Feb 2026₹17.5t₹7.2t₹501.9b21.9x34.9x2.4x
Thu, 01 Jan 2026₹18.9t₹7.1t₹495.4b23.3x38.1x2.6x
Sat, 29 Nov 2025₹19.1t₹7.1t₹495.6b24.2x38.5x2.7x
Mon, 27 Oct 2025₹19.4t₹6.9t₹457.9b26.4x42.3x2.8x
Wed, 24 Sep 2025₹19.7t₹6.9t₹457.0b26.6x43x2.9x
Fri, 22 Aug 2025₹20.1t₹6.9t₹456.5b27.2x44.1x2.9x
Sun, 20 Jul 2025₹20.3t₹6.8t₹445.3b29.6x45.7x3x
Tue, 17 Jun 2025₹19.9t₹6.7t₹442.4b28.6x44.9x2.9x
Thu, 15 May 2025₹18.8t₹6.7t₹433.7b25.5x43.3x2.8x
Sat, 12 Apr 2025₹17.7t₹6.6t₹410.2b24.3x43x2.7x
Mon, 10 Mar 2025₹17.2t₹6.6t₹410.2b25.4x41.8x2.6x
Wed, 05 Feb 2025₹18.2t₹6.5t₹395.4b28.1x46.1x2.8x
Fri, 03 Jan 2025₹18.8t₹6.4t₹367.9b31.8x51x2.9x
Sun, 01 Dec 2024₹19.3t₹6.4t₹367.7b32.6x52.6x3x
Tue, 29 Oct 2024₹19.6t₹6.4t₹366.8b33.4x53.4x3.1x
Thu, 26 Sep 2024₹21.2t₹6.4t₹369.5b35.9x57.3x3.3x
Sat, 24 Aug 2024₹20.6t₹6.4t₹368.7b35.3x55.9x3.2x
Mon, 22 Jul 2024₹19.6t₹6.4t₹378.0b34.5x51.9x3.1x
Wed, 19 Jun 2024₹19.2t₹6.4t₹382.5b32.5x50.1x3x
Fri, 17 May 2024₹17.8t₹6.4t₹377.7b30.2x47.1x2.8x
Sun, 14 Apr 2024₹17.6t₹6.5t₹410.6b30.6x43x2.7x
Tue, 12 Mar 2024₹17.0t₹6.5t₹411.0b28.9x41.3x2.6x
Thu, 08 Feb 2024₹17.2t₹6.6t₹450.2b30.6x38.3x2.6x
Sat, 06 Jan 2024₹18.1t₹6.8t₹485.5b30.6x37.3x2.7x
Mon, 04 Dec 2023₹17.0t₹6.8t₹485.5b28.4x35x2.5x
Wed, 01 Nov 2023₹16.1t₹6.9t₹517.8b26.9x31.1x2.3x
Fri, 29 Sep 2023₹16.4t₹6.9t₹513.6b26.7x32x2.4x
Price to Earnings Ratio

32x


Total Market Cap: ₹16.4tTotal Earnings: ₹513.6bTotal Revenue: ₹6.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 41.9x202420252026
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 32.0x which is lower than its 3-year average PE of 41.9x.
  • 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 grown 5.0% per year over the last three years.
  • Revenues for these companies have grown 3.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

IN Market-0.19%
Materials-0.65%
Chemicals-1.62%
Diversified Chemicals0.62%
Industrial Gases0.61%
Fertilizers and Agricultural Chemicals-0.31%
Specialty Chemicals-1.25%
Commodity Chemicals-4.24%
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 16.9%, which is lower than the prior year's growth of 40.6% per year.
  • Investors are most pessimistic about the Fertilizers and Agricultural Chemicals industry, which is trading below its 3-year average of 33.7x.
Forecasted Growth
  • Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Diversified Chemicals industry is expected to see its earnings grow by 13% 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
SOLARINDS Solar Industries India₹19.89k3.3%
+₹57.9b		39.9%PE90.4x
PIDILITIND Pidilite Industries₹1.57k3.4%
+₹52.5b		5.6%PE60.4x
ASIANPAINT Asian Paints₹2.45k1.9%
+₹43.8b		0.07%PE49.3x
CARBORUNIV Carborundum Universal₹1.21k17.4%
+₹34.2b		24.6%PE110.3x
FACT Fertilisers and Chemicals Travancore₹798.455.8%
+₹28.4b		-18.0%PS8.7x

Latest News

500770
₹674.00
Tata Chemicals
7D
-8.2%
1Y
-29.8%
523642
₹2,408.00
PI Industries
7D
7.0%
1Y
-33.6%
Narrative Update • Sep 17

523642: Higher Revenue Outlook And Upcoming Results Will Support Future Bullish Thesis

Analysts have trimmed their fair value estimate for PI Industries from ₹4,708.65 to ₹4,341.09 as they factor in a slightly lower future P/E assumption and modestly softer profit margin outlook, partly offset by an updated view on revenue growth and discount rate. What’s in the News for PI Industries PI Industries has scheduled a board meeting on Aug 11, 2026 to consider and approve the unaudited standalone financial results for the quarter ended Jun 30, 2026.
SOLARINDS
₹19,890.00
Solar Industries India
7D
3.3%
1Y
39.9%
Narrative Update • Sep 17

SOLARINDS: New Revenue Guidance Will Support Measured Future Upside

Analysts have lifted their fair value estimate for Solar Industries India from ₹20,576 to ₹22,457, reflecting updated assumptions around revenue growth, profit margins and the future P/E multiple. What’s in the News for Solar Industries India Solar Industries India issued earnings guidance for FY2026-27 with revenue guidance of ₹140,000 million, based on company communication.
FLUOROCHEM
₹4,487.20
Gujarat Fluorochemicals
7D
-2.5%
1Y
16.1%
524200
₹1,201.60
Vinati Organics
7D
-4.8%
1Y
-29.9%
GUJALKALI
₹626.55
Gujarat Alkalies and Chemicals
7D
-9.5%
1Y
6.9%
500655
₹6,364.90
Garware Hi-Tech Films
7D
-3.6%
1Y
100.3%
CARBORUNIV
₹1,211.30
Carborundum Universal
7D
17.4%
1Y
24.6%
Narrative Update • Sep 08

CARBORUNIV: Refined Assumptions And Board Review Will Shape Fair Outlook

Analysts have raised their price target for Carborundum Universal to about ₹1,034 from roughly ₹960. This change reflects updated views on its fair value, slightly revised discount rate assumptions, and refreshed expectations for revenue growth, profit margins, and future P/E levels.
ASIANPAINT
₹2,448.50
Asian Paints
7D
1.9%
1Y
0.07%
PIDILITIND
₹1,572.70
Pidilite Industries
7D
3.4%
1Y
5.6%
Narrative Update • Sep 03

PIDILITIND: Dividend Payouts And Margin Outlook Will Support A Stronger Entry

Analysts have raised the price target for Pidilite Industries from ₹1,915 to ₹2,065, citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E to reflect their latest view of the company's fair value. What's in the News for Pidilite Industries Pidilite Industries has scheduled a board meeting on July 21, 2026 at 11:30 Indian Standard Time to consider the appointment of Shri Suresh Kumar C as Chief Human Resource Officer and Senior Management Personnel of the company.
506285
₹3,766.65
Bayer CropScience
7D
-4.4%
1Y
-25.7%
FACT
₹798.45
Fertilisers and Chemicals Travancore
7D
5.8%
1Y
-18.0%
523457
₹6,307.35
Linde India
7D
3.7%
1Y
-2.6%
524709
₹138.70
NACL Industries
7D
-7.4%
1Y
-38.6%
503806
₹2,534.10
SRF
7D
3.3%
1Y
-12.7%
DCMSHRIRAM
₹979.30
DCM Shriram
7D
-1.5%
1Y
-19.1%