Sector analysis · India

Chemicals sector earnings growth, Q1 FY27

The 20 largest Chemicals companies by market cap at the end of Q1 FY27 (30 Jun 2026), compared with Q1 FY26.

The top 20 at Q1 FY27

Q1 FY27 vs Q1 FY26: combined net profit ₹5,983 cr (+27%), median EPS +20% (14 of 20 up), market-cap-weighted price −6%. 20 of 20 reported.

Quarter

Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27

Compared with

YoY QoQ

Weight is each company's share of the 20 companies' combined market cap. Contribution is the change in its owners' profit divided by their combined base profit, in percentage points, so the column adds up to the sector's earnings growth. EPS cannot be added across companies, which is why contributions use profit.

#	Company	Weight	EPS ₹, base → now	EPS growth	Contribution	Price
1	Solar Industries India LimitedSOLARINDS	17.5%	37.43 → 72.11	+93%	+6.5 pp	+6%
2	Pidilite Industries LimitedPIDILITIND	16.8%	6.61 → 8.57	+30%	+4.1 pp	+4%
3	SRF LimitedSRF	8.4%	14.58 → 25.60	+76% one source	+6.7 pp	−16%
4	Linde IndiaLINDEINDIA	6.5%	12.57 → 12.26	−2% one source	−0.1 pp	+10%
5	Coromandel International LimitedCOROMANDEL	6.1%	17.13 → 12.93	−25% one source	−2.5 pp	−20%
6	F A C TFACT	5.8%	0.07 → −0.96	to loss one source	−1.4 pp	−10%
7	UPL LimitedUPL	5.0%	−1.04 → 0.12	turned profitable one-off	+2.0 pp	−3%
8	Gujarat Fluorochemicals LimitedFLUOROCHEM	4.5%	16.75 → 20.12	+20%	+0.8 pp	+9%
9	Navin Fluorine International LimitedNAVINFLUOR	4.1%	23.63 → 47.44	+101% one source	+2.6 pp	+59%
10	PI Industries LimitedPIIND	4.0%	26.36 → 16.10	−39%	−3.2 pp	−38%
11	Himadri Speciality Chemical LimitedHSCL	3.5%	3.68 → 4.55	+24% one source	+1.0 pp	+31%
12	Deepak Nitrite LimitedDEEPAKNTR	2.2%	8.23 → 25.30	+207% one source	+4.8 pp	−22%
13	Sumitomo Chemical India LimitedSUMICHEM	2.2%	3.57 → 4.30	+20%	+0.8 pp	−21%
14	Deepak Fertilizers and Petrochemicals Corporation LimitedDEEPAKFERT	2.0%	19.26 → 38.82	+102% one source	+5.1 pp	−9%
15	Atul LimitedATUL	2.0%	43.40 → 83.32	+92%	+2.4 pp	−14%
16	Chambal Fertilizers & Chemicals LimitedCHAMBLFERT	1.9%	13.70 → 13.07	−5%	−0.5 pp	−17%
17	Bayer Cropscience LimitedBAYERCROP	1.9%	62.01 → 71.56	+15%	+0.9 pp	−34%
18	Tata Chemicals LimitedTATACHEM	1.9%	9.89 → −0.67	to loss	−5.5 pp	−24%
19	Aether Industries LimitedAETHER	1.9%	3.03 → 3.64	+20% one source	+0.2 pp	+78%
20	Aarti Industries LimitedAARTIIND	1.7%	1.19 → 4.27	+259% one source	+2.3 pp	−4%
	Sector earnings growth	100%			+26.8 pp

Who joined and who left

1 joined and 1 left the top 20 since Q4 FY26, as market caps moved.

Joined the top 20 since Q4 FY26 1

now #14 Deepak Fertilizers and Petrochemicals Corporation Limited DEEPAKFERT

Left the top 20 since Q4 FY26 1

was #20 Anupam Rasayan India Limited ANURAS

EPS growth by company, Q2 FY24 to Q1 FY27

Each company's EPS growth year on year, every quarter it was in the top 20.

≤ −40%−20%0+20%≥ +40% Blue is growth, red is decline, grey is about zero; the colour stops deepening at ±40%.

turned profitableto loss crossed zero, so there is no growth rate to print
loss, smallerloss, bigger a loss in both quarters
sources disagree our two sources disagree, so the figure is left out of the sector totals
outside not in the sector's top 20 that quarter

EPS growth of each company in the sector's top 20, by quarter
Company	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
SOLARINDS	+13%	−1%	+18%	+45%	+43%	+55%	+33%	+18%	+21%	+42%	+70%	+93%
PIDILITIND	+35%	+68%	+6%	+21%	+19%	+8%	+40%	+19%	+8%	+12%	+37%	+30%
SRF	−37%	−50%	−25%	−30%	−33%	+7%	+25%	+71%	+93%	+60%	+11%	+76%
LINDEINDIA	+20%	+9%	+7%	+14%	−2%	−3%	+12%	−6%	+61%	+66%	−35%	−2%
COROMANDEL	+2%	−56%	−35%	−37%	−12%	+121%	+262%	+62%	+21%	−1%	−76%	−25%
FACT	−27%	−82%	to loss	to loss	−90%	−74%	turned profitable	turned profitable	+88%	to loss	−95%	to loss
UPL	to loss	to loss	−95%	to loss	loss, bigger	turned profitable	+2,157%	loss, smaller	turned profitable	−52%	+18%	turned profitable
FLUOROCHEM	−85%	−76%	−70%	−46%	+130%	+57%	+89%	+70%	+48%	−18%	−41%	+20%
NAVINFLUOR	+5%	−27%	−48%	outside	outside	outside	+35%	+129%	+144%	+115%	+117%	+101%
PIIND	+43%	+28%	+32%	+17%	+6%	−17%	−11%	−11%	−19%	−16%	−39%	−39%
HSCL	outside	outside	outside	+27%	+20%	+17%	+35%	+48%	+30%	+32%	+26%	+24%
DEEPAKNTR	+18%	−3%	+8%	+35%	−6%	−51%	−20%	−45%	−39%	+2%	+9%	+207%
SUMICHEM	−29%	−39%	+52%	+105%	+34%	+58%	−9%	+41%	−8%	−13%	+12%	+20%
DEEPAKFERT	outside	outside	outside	outside	outside	outside	outside	+24%	+2%	−44%	outside	+102%
ATUL	−40%	−32%	−37%	sources disagree	+52%	+54%	+117%	+14%	+31%	+48%	+66%	+92%
CHAMBLFERT	outside	+42%	outside	+37%	+46%	+21%	+34%	+22%	+21%	+10%	+30%	−5%
BAYERCROP	+37%	−31%	−39%	−23%	−39%	−63%	+49%	+10%	+12%	+180%	+13%	+15%
TATACHEM	−32%	−60%	to loss	−72%	−55%	to loss	loss, smaller	+68%	−60%	loss, bigger	loss, bigger	to loss
AETHER	+30%	outside	outside	outside	outside	outside	outside	outside	outside	outside	−12%	+20%
AARTIIND	sources disagree	sources disagree	sources disagree	+96%	−42%	outside	outside	outside	outside	outside	+44%	+259%