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Indian (NIFTY) Chemicals Industry Analysis

UpdatedJul 31, 2026
DataAggregated Company Financials
Companies357
  • 7D0.6%
  • 3M7.3%
  • 1Y-3.7%
  • YTD4.4%

In the last week, the Chemicals industry is flat overall, with Solar Industries India standing out by going down 3.1%. As for the longer term, the industry has declined 3.7% in the last year. 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
Fri, 31 Jul 2026₹19.3t₹7.5t₹559.4b21.6x34.5x2.6x
Sun, 28 Jun 2026₹19.0t₹7.4t₹540.2b20.7x35.2x2.6x
Tue, 26 May 2026₹18.8t₹7.4t₹533.5b21.9x35.3x2.6x
Thu, 23 Apr 2026₹18.1t₹7.2t₹539.0b22.6x33.5x2.5x
Sat, 21 Mar 2026₹16.2t₹7.2t₹537.7b20.9x30.1x2.3x
Mon, 16 Feb 2026₹17.5t₹7.2t₹538.2b22.6x32.5x2.4x
Wed, 14 Jan 2026₹18.7t₹7.1t₹496.2b22.6x37.8x2.6x
Fri, 12 Dec 2025₹18.6t₹7.1t₹495.5b23.6x37.5x2.6x
Sun, 09 Nov 2025₹19.1t₹7.0t₹478.7b25.3x40x2.7x
Tue, 07 Oct 2025₹19.3t₹6.9t₹457.2b26.3x42.2x2.8x
Thu, 04 Sep 2025₹20.1t₹6.9t₹457.0b26.8x43.9x2.9x
Sat, 02 Aug 2025₹20.1t₹6.8t₹451.5b28.5x44.4x2.9x
Mon, 30 Jun 2025₹20.3t₹6.7t₹442.4b29.1x45.9x3x
Wed, 28 May 2025₹19.5t₹6.7t₹441.6b26.1x44.2x2.9x
Fri, 25 Apr 2025₹18.9t₹6.6t₹410.8b25.7x46x2.9x
Sun, 23 Mar 2025₹17.6t₹6.6t₹410.2b24.6x43x2.7x
Tue, 18 Feb 2025₹16.8t₹6.6t₹400.0b25.3x42x2.6x
Thu, 16 Jan 2025₹17.8t₹6.5t₹367.7b29.6x48.5x2.8x
Sat, 14 Dec 2024₹19.4t₹6.4t₹367.7b33.2x52.8x3x
Mon, 11 Nov 2024₹19.9t₹6.4t₹365.5b34.6x54.5x3.1x
Wed, 09 Oct 2024₹20.5t₹6.4t₹369.5b34.3x55.6x3.2x
Fri, 06 Sep 2024₹21.0t₹6.4t₹363.8b35.2x57.7x3.3x
Sun, 04 Aug 2024₹20.5t₹6.4t₹371.5b36.1x55.1x3.2x
Tue, 02 Jul 2024₹19.6t₹6.4t₹381.8b34.4x51.4x3.1x
Thu, 30 May 2024₹17.9t₹6.4t₹374.7b29x47.8x2.8x
Sat, 27 Apr 2024₹18.0t₹6.5t₹407.3b31.1x44.2x2.8x
Mon, 25 Mar 2024₹16.9t₹6.5t₹411.3b28.2x41.1x2.6x
Wed, 21 Feb 2024₹17.4t₹6.5t₹422.3b30.2x41.2x2.7x
Fri, 19 Jan 2024₹17.5t₹6.8t₹488.2b30.5x35.8x2.6x
Sun, 17 Dec 2023₹17.6t₹6.8t₹485.5b29.2x36.2x2.6x
Tue, 14 Nov 2023₹16.5t₹6.8t₹490.3b28.2x33.6x2.4x
Thu, 12 Oct 2023₹16.5t₹6.9t₹513.8b27x32.2x2.4x
Sat, 09 Sep 2023₹17.1t₹6.9t₹514.0b27.8x33.3x2.5x
Mon, 07 Aug 2023₹16.2t₹7.0t₹541.8b23.6x29.9x2.3x
Price to Earnings Ratio

29.9x


Total Market Cap: ₹16.2tTotal Earnings: ₹541.8bTotal Revenue: ₹7.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Chemicals Industry Price to Earnings3Y Average 41.8x202420252026
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 34.5x which is lower than its 3-year average PE of 41.8x.
  • 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 remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 2.3% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

IN Market1.18%
Materials0.86%
Chemicals0.65%
Diversified Chemicals2.98%
Fertilizers and Agricultural Chemicals1.05%
Specialty Chemicals0.55%
Commodity Chemicals-0.52%
Industrial Gases-1.56%
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 15.1%, 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 33.4x.
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 11% per year.
  • 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
ASIANPAINT Asian Paints₹2.75k2.9%
+₹74.2b		14.6%PE55.3x
PIDILITIND Pidilite Industries₹1.63k4.2%
+₹66.9b		13.6%PE67.7x
509480 Berger Paints India₹520.955.7%
+₹32.5b		-7.7%PE53.9x
500027 Atul₹6.79k10.7%
+₹19.3b		2.3%PE25.1x
PARADEEP Paradeep Phosphates₹153.3812.5%
+₹17.7b		-28.8%PE14.8x

Latest News

ASIANPAINT
₹2,746.20
Asian Paints
7D
2.9%
1Y
14.6%
GANDHAR
₹216.93
Gandhar Oil Refinery (India)
7D
-23.1%
1Y
32.6%
523457
₹6,641.70
Linde India
7D
-1.1%
1Y
0.8%
SUMICHEM
₹508.40
Sumitomo Chemical India
7D
-4.3%
1Y
-21.6%
Narrative Update • Jul 29

SUMICHEM: Future View Will Favour Leadership Transition And Stable Dividend Payout

Analysts have raised their price target on Sumitomo Chemical India to ₹579.89 from ₹555.33, reflecting updated assumptions regarding the discount rate, revenue growth, profit margin, and future P/E. What’s in the News for Sumitomo Chemical India Board meeting on 27 July 2026 to consider standalone and consolidated unaudited financial results for the quarter ended 30 June 2026.
PARADEEP
₹153.38
Paradeep Phosphates
7D
12.5%
1Y
-28.8%
509480
₹520.95
Berger Paints India
7D
5.7%
1Y
-7.7%
FLUOROCHEM
₹4,395.00
Gujarat Fluorochemicals
7D
-4.0%
1Y
22.3%
Narrative Update • Jul 29

FLUOROCHEM: Refrigerant Expansion Plans Will Temper Returns At Current Pricing

Analysts have lifted their price target for Gujarat Fluorochemicals from ₹3,897 to ₹4,076, citing refreshed assumptions on revenue growth, profit margins and future P/E expectations. What's in the News for Gujarat Fluorochemicals Gujarat Fluorochemicals plans to expand its refrigerant capacity and fully use its refrigerant gas entitlement under the Montreal Protocol and Kigali Amendment, covering products such as R32, R22, R125 and R410A, with a planned addition of R134A capacity.
500027
₹6,789.85
Atul
7D
10.7%
1Y
2.3%
COROMANDEL
₹2,054.20
Coromandel International
7D
1.5%
1Y
-23.7%
Analysis Article • Jul 26

Analysts Have Made A Financial Statement On Coromandel International Limited's (NSE:COROMANDEL) First-Quarter Report

Shareholders might have noticed that Coromandel International Limited ( NSE:COROMANDEL ) filed its quarterly result...
SOLARINDS
₹18,053.00
Solar Industries India
7D
-3.1%
1Y
27.0%
New Narrative • Jul 24

Rising Capex And Defense Execution Risks Will Pressure Margins And Future Returns

Catalysts About Solar Industries India Solar Industries India manufactures explosives and related energetic products for mining, infrastructure and defense customers in India and overseas markets. What are the underlying business or industry changes driving this perspective?
DCMSHRIRAM
₹1,055.90
DCM Shriram
7D
4.7%
1Y
-26.1%
532504
₹7,385.95
Navin Fluorine International
7D
-3.8%
1Y
46.5%
Narrative Update • Jul 22

532504: Future Margin Assumptions Will Likely Prove Overly Optimistic

Analysts have lifted their price target for Navin Fluorine International from about ₹4,350 to roughly ₹5,450, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers behind the change. What’s in the News for Navin Fluorine International A board meeting is scheduled on August 5, 2026 to consider, approve and record the unaudited standalone and consolidated financial results for the quarter ending June 30, 2026.
PIDILITIND
₹1,629.90
Pidilite Industries
7D
4.2%
1Y
13.6%
MBAPL
₹165.85
Madhya Bharat Agro Products
7D
13.0%
1Y
85.9%
500645
₹1,528.95
Deepak Fertilisers And Petrochemicals
7D
-3.2%
1Y
-4.4%
500184
₹760.25
Himadri Speciality Chemical
7D
-2.2%
1Y
60.8%
Narrative Update • Jul 17

500184: China Subsidiary And Board Actions Will Likely Sustain Current Premium

Analysts have revised their price target for Himadri Speciality Chemical from ₹550 to ₹720, citing updated assumptions on fair value and future P/E expectations, as well as refreshed views on discount rate, revenue growth and profit margin inputs. What's in the News Himadri Speciality Chemical has scheduled a board meeting on Jul 15, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter ended Jun 30, 2026.