Sector analysis · India
Chemicals sector earnings growth, Q1 FY25
The 20 largest Chemicals companies by market cap at the end of Q1 FY25 (30 Jun 2024), compared with Q4 FY24.
The top 20 at Q1 FY25
Q1 FY25 vs Q4 FY24: combined net profit ₹3,651 cr (+44%), median EPS +17% (16 of 20 up), market-cap-weighted price +14%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Pidilite Industries Limited | 17.8% | 2.96 → 5.57 | +88% | +7.0 pp | +5% |
| 2 | Solar Industries India Limited | 10.1% | 26.82 → 31.66 | +18% | +1.1 pp | +14% |
| 3 | SRF Limited | 8.0% | 14.24 → 8.51 | −40% | −4.5 pp | −5% |
| 4 | Linde India | 7.9% | 12.36 → 13.33 | +8% | +0.2 pp | +29% |
| 5 | F A C T | 7.1% | −0.95 → −0.75 | loss, smaller | +0.3 pp | +57% |
| 6 | PI Industries Limited | 6.4% | 24.35 → 29.58 | +21% | +2.1 pp | −2% |
| 7 | Coromandel International Limited | 5.2% | 5.44 → 10.56 | +94% | +4.0 pp | +49% |
| 8 | UPL Limited | 4.8% | 0.47 → −4.55 | to loss | −11.1 pp | +25% |
| 9 | Gujarat Fluorochemicals Limited | 3.9% | 9.19 → 9.83 | +7% | +0.2 pp | +3% |
| 10 | Deepak Nitrite Limited | 3.8% | 18.56 → 14.85 | −20% | −1.3 pp | +18% |
| 11 | Bayer Cropscience Limited | 3.3% | 21.36 → 56.56 | +165% | +4.2 pp | +28% |
| 12 | Tata Chemicals Limited | 3.1% | −33.37 → 5.89 | turned profitable | +26.3 pp | +2% |
| 13 | Aarti Industries Limited | 2.8% | 3.64 → 3.77 | +4% | +0.1 pp | +3% |
| 14 | Sumitomo Chemical India Limited | 2.7% | 2.20 → 2.54 | +15% | +0.4 pp | +38% |
| 15 | BASF India | 2.4% | 37.31 → 50.96 | +37% | +1.6 pp | +52% |
| 16 | Chambal Fertilizers & Chemicals Limited | 2.3% | 2.42 → 11.19 | +362% | +9.2 pp | +48% |
| 17 | Vinati Organics Limited | 2.2% | 10.05 → 8.12 | −19% | −0.5 pp | +30% |
| 18 | Himadri Speciality Chemical Limited | 2.2% | 2.34 → 2.48 | +6% | +0.2 pp | +46% |
| 19 | Atul Limited | 2.1% | 19.84 → 38.00 | +92% | +1.4 pp | +13% |
| 20 | SWAN CORP LIMITED | 2.0% | 0.85 → 4.43 | +421% | +3.0 pp | −12% |
| Sector earnings growth | 100% | +43.8 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q4 FY24, as market caps moved.
Joined the top 20 since Q4 FY24
Left the top 20 since Q4 FY24
- Navin Fluorine International Limited
- Clean Science and Technology 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% |
| 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 |
| PIIND | +25% | −7% | −18% | +21% | +13% | −27% | −11% | +21% | +2% | −24% | −36% | +22% |
| COROMANDEL | +53% | −69% | −31% | +94% | +113% | −23% | +13% | −13% | +59% | −37% | −72% | +173% |
| 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% |
| DEEPAKNTR | +37% | −2% | +25% | −20% | −4% | −49% | +106% | −45% | +6% | −16% | +120% | +57% |
| BAYERCROP | −32% | −58% | +3% | +165% | −46% | −75% | +319% | +94% | −45% | −37% | +69% | +98% |
| 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% |
| SUMICHEM | +131% | −62% | +100% | +15% | +52% | −55% | +15% | +78% | 0% | −57% | +47% | +93% |
| BASF | outside | outside | +15% | +37% | −42% | −19% | −55% | +212% | −31% | +4% | outside | outside |
| CHAMBLFERT | outside | +21% | outside | +362% | +20% | 0% | −76% | +322% | +18% | −10% | −71% | +210% |
| VINATIORGA | +1% | −9% | +34% | −19% | +24% | −10% | +31% | −15% | +10% | −12% | outside | outside |
| HSCL | outside | outside | outside | +6% | +10% | +5% | +9% | +17% | −3% | +7% | +4% | +14% |
| ATUL | sources disagree | −21% | −17% | +92% | +22% | −21% | +16% | +1% | +40% | −10% | +31% | +17% |
| SWANCORP | outside | outside | −90% | +421% | outside | +1,034% | outside | outside | outside | outside | outside | outside |