Synopsis: India’s chemical sector delivered a mixed FY26 performance, supported by recovering domestic demand and improving volumes. Profitability gradually improved, while export-oriented segments continued facing pricing and global demand challenges.
The Indian chemical sector remained resilient in FY26 despite global uncertainties, benefiting from stronger domestic consumption, capacity expansions, and gradual recovery in key end-user industries such as construction, FMCG, pharmaceuticals, and agriculture. India is the world’s sixth-largest chemical producer, contributing around 7% to the country’s GDP, while the specialty chemicals segment is expected to register revenue growth of about 7-8%, largely driven by volume expansion.
Looking ahead, the sector’s long-term prospects remain attractive, supported by government initiatives such as PLI and Make in India, and rising global demand. Industry estimates suggest India’s chemicals and petrochemicals demand could nearly triple and reach around US$1 trillion by 2040, creating significant opportunities for domestic manufacturers.
Pidilite Industries Ltd
Pidilite Industries is India’s leading manufacturer of adhesives, sealants, construction chemicals, and art materials. Established in 1959, the company owns well-known brands such as Fevicol, Fevikwik, M-Seal, Dr. Fixit, and Fevicryl. It serves retail consumers and industrial customers across multiple sectors, with a strong domestic distribution network and growing international presence.
With the market capitalization of Rs. 1,48,524 Crores, the shares of Pidilite Industries Ltd were trading at around Rs. 1459 per share which is 7 percent discount from its 52 week high of Rs. 1575 per share and is trading at a P/E of 60.4 whereas industry P/E stands at 29.9
Revenue from operations has increased from Rs. 13,140 Crores in FY25 to Rs. 14,601 Crores in FY26, up 11 percent. Operating profit has increased from Rs. 3011 Crores to Rs. 3517 Crores, up 17 percent and net profit has increased from Rs. 2096 Crores to Rs. 2471 Crores, up 18 percent.
SRF Ltd
SRF Limited is a diversified chemicals and industrial products company with leadership positions in specialty chemicals, fluorochemicals, packaging films, technical textiles, and coated fabrics. The company serves global markets across pharmaceuticals, agrochemicals, refrigeration, and packaging industries. Strong export presence, continuous capacity expansion, and innovation-driven growth have made SRF a prominent player in India’s chemical sector.
With the market capitalization of Rs. 79,286 Crores, the shares of SRF Ltd were trading at around Rs. 2675 per share which is 20 percent discount from its 52 week high of Rs. 3325 per share and is trading at a P/E of 41.7 whereas industry P/E stands at 22.1
Revenue from operations has increased from Rs. 14,693 Crores in FY25 to Rs. 15,787 crores in FY26, up 7 percent. Operating profit has increased from Rs. 2718 Crores to Rs. 3410 Crores, up 25 percent and net profit has increased from Rs. 1251 Crores to Rs. 1835 crores, up 46 percent.
Deepak Nitrite
Deepak Nitrite is one of India’s leading chemical companies, manufacturing intermediates, phenolics, acetone, solvents, and specialty chemicals. The company serves industries such as pharmaceuticals, agrochemicals, paints, dyes, and plastics. Known for its integrated manufacturing model and strong domestic market position, Deepak Nitrite has expanded into value-added chemical products and continues to strengthen its presence in both domestic and export markets.
With the market capitalization of Rs. 22,707 Crores, the shares of Deepak Nitrite Ltd were trading at around Rs. 1665 per share which is 17 percent discount from its 52 week high of Rs. 2011 per share and is trading at a P/E of 40.6 whereas industry P/E stands at 29.9
Revenue from operations has decreased from Rs. 8282 Crores in FY25 to Rs. 7887 Crores in FY26, down 4.7 percent. Operating profit has decreased from Rs. 1095 Crores to Rs. 981 Crores, down 10 percent and net profit has decreased from Rs. 697 Crores to Rs. 551 Crores, down 21 percent.
Navin Fluorine International Ltd
Navin Fluorine International ltd is a leading fluorochemicals manufacturer specializing in refrigerant gases, specialty fluorochemicals, contract research and manufacturing services (CRAMS), and inorganic fluorides. The company caters to pharmaceutical, agrochemical, and industrial sectors globally. With a focus on high-value products, technology-driven operations, and capacity expansion, Navin Fluorine has established a strong presence in both domestic and international markets.
With the market capitalization of Rs. 35,216 Crores, the shares of Navin Fluorine International Ltd were trading at around Rs. 6865 per share which is 8.7 percent discount from its 52 weeks high of Rs. 7525 per share and is trading at a P/E of 52.7 whereas industry P/E stands at 29.9
Revenue from operations has increased from Rs. 2349 Crores to Rs. 3314 Crores, up 41 percent. Operating profit has increased from Rs. 534 Crores to Rs. 1082 Crores, up 102 percent and net profit has increased from Rs. 289 Crores to Rs. 664 Crores, up 129 percent.
Aarti Industries Ltd
Aarti Industries is a leading specialty chemicals company serving global markets across pharmaceuticals, agrochemicals, polymers, dyes, pigments, and additives. The company manufactures a wide range of chemical intermediates and specialty products through integrated operations. With a strong export footprint, long-term customer relationships, and continuous capacity expansion, Aarti Industries has emerged as a key player in India’s specialty chemicals sector.
With the market capitalization of Rs. 15,689 Crores, the shares of Aarti Industries Ltd were trading at around Rs. 433 per share which is 17 percent discount from its 52 weeks high of Rs. 523 per share and is trading at a P/E 38 whereas industry P/E stands at 29.9
Revenue from operations has increased from Rs. 7271 Crores to Rs. 8286 Crores, up 14 percent. Operating profit has increased from Rs. 1000 Crores to Rs. 1167 Crores, up 16.7 percent and net profit has increased from Rs. 331 Crores to Rs. 419 Crores, up 26 percent
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