Sector analysis · India
Chemicals sector earnings growth, Q3 FY25
The 20 largest Chemicals companies by market cap at the end of Q3 FY25 (31 Dec 2024), compared with Q3 FY24.
The top 20 at Q3 FY25
Q3 FY25 vs Q3 FY24: combined net profit ₹4,926 cr (+52%), median EPS +8% (12 of 20 up), market-cap-weighted price +8%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Pidilite Industries Limited | 16.9% | 5.02 → 5.43 | +8% | +0.9 pp | +7% |
| 2 | Solar Industries India Limited | 10.1% | 22.47 → 34.80 | +55% | +2.3 pp | +45% |
| 3 | SRF Limited | 7.6% | 8.55 → 9.14 | +7% | +0.4 pp | −10% |
| 4 | F A C T | 7.2% | 0.47 → 0.12 | −74% | −0.5 pp | +22% |
| 5 | PI Industries Limited | 6.4% | 29.57 → 24.57 | −17% | −1.6 pp | +5% |
| 6 | Coromandel International Limited | 6.3% | 7.85 → 17.37 | +121% | +5.8 pp | +50% |
| 7 | Linde India | 5.8% | 14.08 → 13.64 | −3% | −0.1 pp | +6% |
| 8 | Gujarat Fluorochemicals Limited | 5.2% | 7.29 → 11.47 | +57% | +1.0 pp | +13% |
| 9 | UPL Limited | 4.3% | −14.41 → 9.81 | turned profitable | +42.4 pp | −15% |
| 10 | Deepak Nitrite Limited | 3.9% | 14.81 → 7.19 | −51% | −2.2 pp | +1% |
| 11 | Himadri Speciality Chemical Limited | 3.3% | 2.47 → 2.88 | +17% | +0.7 pp | +111% |
| 12 | Tata Chemicals Limited | 3.1% | 6.20 → −2.08 | to loss one-off | −4.4 pp | −5% |
| 13 | Sumitomo Chemical India Limited | 3.0% | 1.10 → 1.74 | +58% | +0.7 pp | +32% |
| 14 | Bayer Cropscience Limited | 2.8% | 20.72 → 7.61 | −63% | −1.2 pp | 0% |
| 15 | BASF India | 2.7% | 32.36 → 23.93 | −26% | −0.8 pp | +81% |
| 16 | SWAN CORP LIMITED | 2.6% | 8.34 → 18.59 | +123% | +7.5 pp | +67% |
| 17 | Atul Limited | 2.3% | 24.04 → 36.93 | +54% | +0.8 pp | −3% |
| 18 | Chambal Fertilizers & Chemicals Limited | 2.3% | 11.04 → 13.34 | +21% | +1.6 pp | +27% |
| 19 | Vinati Organics Limited | 2.1% | 7.49 → 9.04 | +21% | +0.3 pp | +4% |
| 20 | PCBL Chemical Limited | 1.9% | 3.92 → 2.47 | −37% | −1.1 pp | +79% |
| Sector earnings growth | 100% | +52.5 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q2 FY25, as market caps moved.
Joined the top 20 since Q2 FY25
Left the top 20 since Q2 FY25
- Aarti Industries Limited
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.
| 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 | +35% | +68% | +6% | +21% | +19% | +8% | +40% | +19% | +8% | +12% | +37% | +30% |
| SOLARINDS | +13% | −1% | +18% | +45% | +43% | +55% | +33% | +18% | +21% | +42% | +70% | +93% |
| SRF | −37% | −50% | −25% | −30% | −33% | +7% | +25% | +71% | +93% | +60% | +11% | +76% |
| FACT | −27% | −82% | to loss | to loss | −90% | −74% | turned profitable | turned profitable | +88% | to loss | −95% | to loss |
| PIIND | +43% | +28% | +32% | +17% | +6% | −17% | −11% | −11% | −19% | −16% | −39% | −39% |
| COROMANDEL | +2% | −56% | −35% | −37% | −12% | +121% | +262% | +62% | +21% | −1% | −76% | −25% |
| LINDEINDIA | +20% | +9% | +7% | +14% | −2% | −3% | +12% | −6% | +61% | +66% | −35% | −2% |
| FLUOROCHEM | −85% | −76% | −70% | −46% | +130% | +57% | +89% | +70% | +48% | −18% | −41% | +20% |
| UPL | to loss | to loss | −95% | to loss | loss, bigger | turned profitable | +2,157% | loss, smaller | turned profitable | −52% | +18% | turned profitable |
| DEEPAKNTR | +18% | −3% | +8% | +35% | −6% | −51% | −20% | −45% | −39% | +2% | +9% | +207% |
| HSCL | outside | outside | outside | +27% | +20% | +17% | +35% | +48% | +30% | +32% | +26% | +24% |
| TATACHEM | −32% | −60% | to loss | −72% | −55% | to loss | loss, smaller | +68% | −60% | loss, bigger | loss, bigger | to loss |
| SUMICHEM | −29% | −39% | +52% | +105% | +34% | +58% | −9% | +41% | −8% | −13% | +12% | +20% |
| BAYERCROP | +37% | −31% | −39% | −23% | −39% | −63% | +49% | +10% | +12% | +180% | +13% | +15% |
| BASF | outside | outside | +96% | +96% | −14% | −26% | −71% | −33% | −21% | +2% | outside | outside |
| SWANCORP | outside | outside | −64% | −19% | outside | +123% | outside | outside | outside | outside | outside | outside |
| 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% |
| VINATIORGA | −27% | −39% | −10% | 0% | +23% | +21% | +18% | +24% | +10% | +8% | outside | outside |
| PCBL | outside | outside | outside | outside | +1% | −37% | −10% | outside | outside | outside | outside | outside |