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Indian (NIFTY) Chemicals Industry Analysis

UpdatedAug 17, 2026
DataAggregated Company Financials
Companies358
  • 7D0.6%
  • 3M7.6%
  • 1Y1.9%
  • YTD7.2%

Last week, the Chemicals industry hasn't moved much but Solar Industries India is up 7.1% in that time. Furthermore, the industry has been flat for the past year as well. 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
Mon, 17 Aug 2026₹19.8t₹7.7t₹592.4b19.2x33.5x2.6x
Wed, 15 Jul 2026₹19.0t₹7.4t₹540.1b21.6x35.2x2.6x
Fri, 12 Jun 2026₹18.4t₹7.4t₹539.2b20.8x34.2x2.5x
Sun, 10 May 2026₹18.9t₹7.2t₹520.2b23x36.2x2.6x
Tue, 07 Apr 2026₹16.2t₹7.2t₹538.7b20.4x30.1x2.3x
Thu, 05 Mar 2026₹16.7t₹7.2t₹537.8b21.1x31.1x2.3x
Sat, 31 Jan 2026₹17.8t₹7.2t₹502.0b22.6x35.4x2.5x
Mon, 29 Dec 2025₹18.8t₹7.1t₹495.4b23.3x38x2.6x
Wed, 26 Nov 2025₹19.0t₹7.1t₹495.6b23.9x38.3x2.7x
Fri, 24 Oct 2025₹19.4t₹6.9t₹458.2b26x42.3x2.8x
Sun, 21 Sep 2025₹20.0t₹6.9t₹457.0b27.2x43.7x2.9x
Tue, 19 Aug 2025₹20.0t₹6.9t₹456.5b26.9x43.8x2.9x
Thu, 17 Jul 2025₹20.4t₹6.8t₹444.4b29.8x46x3x
Sat, 14 Jun 2025₹19.8t₹6.7t₹442.4b27.6x44.7x2.9x
Mon, 12 May 2025₹18.2t₹6.7t₹421.5b24x43.2x2.7x
Wed, 09 Apr 2025₹17.3t₹6.6t₹410.2b24.3x42.1x2.6x
Fri, 07 Mar 2025₹17.0t₹6.6t₹410.2b25x41.5x2.6x
Sun, 02 Feb 2025₹18.1t₹6.5t₹397.4b27.9x45.4x2.8x
Tue, 31 Dec 2024₹18.3t₹6.4t₹367.6b31.1x49.8x2.8x
Thu, 28 Nov 2024₹19.1t₹6.4t₹367.7b32.4x51.9x3x
Sat, 26 Oct 2024₹19.4t₹6.4t₹366.8b32.4x52.8x3x
Mon, 23 Sep 2024₹21.1t₹6.4t₹369.5b36x57.2x3.3x
Wed, 21 Aug 2024₹20.3t₹6.4t₹368.7b34.8x55.1x3.2x
Fri, 19 Jul 2024₹20.0t₹6.3t₹377.5b35.1x52.9x3.1x
Sun, 16 Jun 2024₹19.0t₹6.4t₹382.5b33.1x49.7x3x
Tue, 14 May 2024₹17.5t₹6.4t₹383.8b29.9x45.7x2.7x
Thu, 11 Apr 2024₹17.8t₹6.5t₹410.6b30.3x43.2x2.7x
Sat, 09 Mar 2024₹17.1t₹6.5t₹411.0b29.8x41.6x2.6x
Mon, 05 Feb 2024₹17.2t₹6.7t₹454.1b30.8x37.8x2.6x
Wed, 03 Jan 2024₹18.2t₹6.8t₹485.5b30.3x37.4x2.7x
Fri, 01 Dec 2023₹16.8t₹6.8t₹485.5b28x34.7x2.5x
Sun, 29 Oct 2023₹15.9t₹6.9t₹518.1b26.7x30.6x2.3x
Tue, 26 Sep 2023₹16.7t₹6.9t₹513.5b27x32.5x2.4x
Thu, 24 Aug 2023₹16.2t₹6.9t₹514.5b26.3x31.4x2.3x
Price to Earnings Ratio

31.4x


Total Market Cap: ₹16.2tTotal Earnings: ₹514.5bTotal 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 33.5x 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 4.8% 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-0.35%
Materials-1.39%
Chemicals0.63%
Commodity Chemicals2.46%
Diversified Chemicals0.95%
Specialty Chemicals0.82%
Fertilizers and Agricultural Chemicals-1.60%
Industrial Gases-4.69%
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 16.8%, 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 33.5x.
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 12% 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₹20.00k6.3%
+₹106.8b		33.7%PE90.9x
FLUOROCHEM Gujarat Fluorochemicals₹4.71k5.0%
+₹24.6b		38.7%PE83.8x
GALAXYSURF Galaxy Surfactants₹2.40k15.3%
+₹11.3b		7.4%PE24.1x
524208 Aarti Industries₹527.305.4%
+₹9.8b		37.5%PE36x
509480 Berger Paints India₹549.151.4%
+₹8.6b		0.1%PE52.6x

Latest News

GALAXYSURF
₹2,403.70
Galaxy Surfactants
7D
15.3%
1Y
7.4%
FLUOROCHEM
₹4,707.50
Gujarat Fluorochemicals
7D
5.0%
1Y
38.7%
Analysis Article • 13h

Gujarat Fluorochemicals Limited (NSE:FLUOROCHEM) Released Earnings Last Week And Analysts Lifted Their Price Target To ₹4,624

Investors in Gujarat Fluorochemicals Limited ( NSE:FLUOROCHEM ) had a good week, as its shares rose 4.9% to close at...
FACT
₹793.25
Fertilisers and Chemicals Travancore
7D
-5.0%
1Y
-17.8%
SOLARINDS
₹20,000.00
Solar Industries India
7D
6.3%
1Y
33.7%
523642
₹2,484.00
PI Industries
7D
-9.5%
1Y
-33.8%
523457
₹6,745.30
Linde India
7D
-4.2%
1Y
5.4%
JUBLCPL
₹2,342.40
Jubilant Agri and Consumer Products
7D
31.4%
1Y
-15.9%
ASIANPAINT
₹2,687.50
Asian Paints
7D
-2.3%
1Y
3.9%
Narrative Update • Aug 13

ASIANPAINT: Dividends And Governance Changes Will Shape A Stable Fair Value Outlook

Analysts have lifted the Asian Paints price target from about ₹2,848 to roughly ₹3,021, reflecting updated assumptions that combine slightly lower revenue growth with a modestly higher profit margin and a similar future P/E multiple. What's in the News for Asian Paints Asian Paints has scheduled a Special or Extraordinary Shareholders Meeting on September 9, 2026, to be conducted via postal ballot in India.
GNFC
₹600.65
Gujarat Narmada Valley Fertilizers & Chemicals
7D
10.4%
1Y
18.2%
PIDILITIND
₹1,669.00
Pidilite Industries
7D
-0.9%
1Y
8.5%
509480
₹549.15
Berger Paints India
7D
1.4%
1Y
0.1%
Narrative Update • Aug 06

509480: Dividend Proposal And Updated Assumptions Will Support Steady Future Pricing Multiples

Analysts have raised their price target for Berger Paints India from about ₹542 to about ₹562, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that modestly adjust the stock's assessed fair value. What's in the News Berger Paints India has scheduled a board meeting on 5 August 2026 to consider and approve its unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, along with other business matters.
500870
₹187.50
Castrol India
7D
-3.1%
1Y
-9.0%
500165
₹205.85
Kansai Nerolac Paints
7D
-4.3%
1Y
-13.1%
530117
₹3,444.10
Privi Speciality Chemicals
7D
-4.6%
1Y
40.5%
Narrative Update • Aug 03

530117: Future Dividend And July 2026 Board Review Will Support Upside Potential

Analysts have raised the Privi Speciality Chemicals price target from ₹3,884.50 to about ₹4,198, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers. What’s in the News for Privi Speciality Chemicals Privi Speciality Chemicals has scheduled a board meeting on July 30, 2026 to consider and approve the unaudited standalone and consolidated financial results under Ind AS for the quarter ended June 30, 2026.
524208
₹527.30
Aarti Industries
7D
5.4%
1Y
37.5%
500184
₹788.00
Himadri Speciality Chemical
7D
2.1%
1Y
67.3%
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.