Sector analysis · India
Chemicals sector earnings growth, Q4 FY24
The 20 largest Chemicals companies by market cap at the end of Q4 FY24 (31 Mar 2024), compared with Q3 FY24.
The top 20 at Q4 FY24
Q4 FY24 vs Q3 FY24: combined net profit ₹1,913 cr (−1%), median EPS +3% (11 of 20 up), market-cap-weighted price −2%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Pidilite Industries Limited | 19.6% | 5.02 → 2.96 | −41% | −4.8 pp | +11% |
| 2 | Solar Industries India Limited | 10.2% | 22.47 → 26.82 | +19% | +0.9 pp | +31% |
| 3 | SRF Limited | 9.7% | 8.55 → 14.24 | +67% | +3.9 pp | +3% |
| 4 | PI Industries Limited | 7.5% | 29.57 → 24.35 | −18% | −1.8 pp | +10% |
| 5 | Linde India | 7.0% | 14.08 → 12.36 | −12% | −0.3 pp | +14% |
| 6 | F A C T | 5.2% | 0.47 → −0.95 | to loss one-off | −2.1 pp | −22% |
| 7 | UPL Limited | 4.4% | −14.41 → 0.47 | turned profitable one-off | +28.7 pp | −22% |
| 8 | Gujarat Fluorochemicals Limited | 4.4% | 7.29 → 9.19 | +26% | +0.5 pp | −16% |
| 9 | Coromandel International Limited | 4.1% | 7.85 → 5.44 | −31% | −1.6 pp | −14% |
| 10 | Deepak Nitrite Limited | 3.7% | 14.81 → 18.56 | +25% | +1.2 pp | −14% |
| 11 | Tata Chemicals Limited | 3.5% | 6.20 → −33.37 | to loss one-off | −23.0 pp | −2% |
| 12 | Aarti Industries Limited | 3.1% | 3.42 → 3.64 | +6% | +0.2 pp | +2% |
| 13 | Bayer Cropscience Limited | 3.0% | 20.72 → 21.36 | +3% | +0.1 pp | −5% |
| 14 | SWAN CORP LIMITED | 2.7% | 8.34 → 0.85 | −90% | −4.4 pp | +56% |
| 15 | Sumitomo Chemical India Limited | 2.2% | 1.10 → 2.20 | +100% | +1.3 pp | −14% |
| 16 | Atul Limited | 2.2% | 24.04 → 19.84 | −17% | −0.3 pp | −20% |
| 17 | Navin Fluorine International Limited | 2.0% | 15.74 → 14.20 | −10% | −0.2 pp | −19% |
| 18 | Vinati Organics Limited | 1.9% | 7.49 → 10.05 | +34% | +0.6 pp | −16% |
| 19 | BASF India | 1.8% | 32.36 → 37.31 | +15% | +0.5 pp | +9% |
| 20 | Clean Science and Technology Limited | 1.8% | 5.89 → 6.61 | +12% | +0.2 pp | −14% |
| Sector earnings growth | 100% | −0.6 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q3 FY24, as market caps moved.
Joined the top 20 since Q3 FY24
Left the top 20 since Q3 FY24
- Chambal Fertilizers & Chemicals Limited
- Fine Organic Industries Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PIDILITIND | −4% | +13% | −41% | +88% | −6% | +3% | −24% | +59% | −14% | +7% | −6% | +51% |
| SOLARINDS | +1% | +2% | +19% | +18% | 0% | +10% | +2% | +5% | +2% | +29% | +23% | +19% |
| SRF | −16% | −16% | +67% | −40% | −20% | +35% | +94% | −18% | −10% | +11% | +34% | +30% |
| PIIND | +25% | −7% | −18% | +21% | +13% | −27% | −11% | +21% | +2% | −24% | −36% | +22% |
| LINDEINDIA | +9% | +10% | −12% | +8% | −6% | +9% | +2% | −9% | +60% | +13% | −60% | +35% |
| FACT | +47% | −71% | to loss | loss, smaller | turned profitable | −29% | +808% | −94% | +357% | to loss | turned profitable | to loss |
| UPL | to loss | loss, bigger | turned profitable | to loss | loss, bigger | turned profitable | +8% | to loss | turned profitable | −28% | +168% | −99% |
| FLUOROCHEM | −74% | +52% | +26% | +7% | +12% | +4% | +52% | −4% | −3% | −42% | +9% | +97% |
| COROMANDEL | +53% | −69% | −31% | +94% | +113% | −23% | +13% | −13% | +59% | −37% | −72% | +173% |
| DEEPAKNTR | +37% | −2% | +25% | −20% | −4% | −49% | +106% | −45% | +6% | −16% | +120% | +57% |
| TATACHEM | −20% | −63% | to loss | turned profitable | +29% | to loss | loss, bigger | turned profitable | −69% | to loss | loss, bigger | loss, smaller |
| AARTIIND | +30% | +37% | +6% | +4% | −62% | outside | outside | outside | outside | outside | +4% | +13% |
| BAYERCROP | −32% | −58% | +3% | +165% | −46% | −75% | +319% | +94% | −45% | −37% | +69% | +98% |
| SWANCORP | outside | outside | −90% | +421% | outside | +1,034% | outside | outside | outside | outside | outside | outside |
| SUMICHEM | +131% | −62% | +100% | +15% | +52% | −55% | +15% | +78% | 0% | −57% | +47% | +93% |
| ATUL | sources disagree | −21% | −17% | +92% | +22% | −21% | +16% | +1% | +40% | −10% | +31% | +17% |
| NAVINFLUOR | −2% | +29% | −10% | outside | outside | outside | +14% | +23% | +23% | +25% | +15% | +14% |
| VINATIORGA | +1% | −9% | +34% | −19% | +24% | −10% | +31% | −15% | +10% | −12% | outside | outside |
| BASF | outside | outside | +15% | +37% | −42% | −19% | −55% | +212% | −31% | +4% | outside | outside |
| CLEAN | −12% | +20% | +12% | outside | outside | outside | outside | outside | outside | outside | outside | outside |