Sector analysis · India
Chemicals sector earnings growth, Q4 FY25
The 20 largest Chemicals companies by market cap at the end of Q4 FY25 (31 Mar 2025), compared with Q4 FY24.
The top 20 at Q4 FY25
Q4 FY25 vs Q4 FY24: combined net profit ₹4,624 cr (+68%), median EPS +34% (15 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 | 16.7% | 2.96 → 4.15 | +40% | +3.2 pp | −5% |
| 2 | Solar Industries India Limited | 11.7% | 26.82 → 35.61 | +33% | +2.1 pp | +28% |
| 3 | SRF Limited | 10.1% | 14.24 → 17.75 | +25% | +2.7 pp | +15% |
| 4 | Coromandel International Limited | 6.7% | 5.44 → 19.67 | +262% one-off | +11.0 pp | +84% |
| 5 | Linde India | 6.2% | 12.36 → 13.88 | +12% | +0.3 pp | −2% |
| 6 | PI Industries Limited | 6.0% | 24.35 → 21.78 | −11% | −1.0 pp | −11% |
| 7 | UPL Limited | 5.5% | 0.47 → 10.61 | +2,157% | +22.4 pp | +40% |
| 8 | Gujarat Fluorochemicals Limited | 5.1% | 9.19 → 17.39 | +89% | +2.4 pp | +30% |
| 9 | F A C T | 4.8% | −0.95 → 1.09 | turned profitable | +3.4 pp | +2% |
| 10 | Sumitomo Chemical India Limited | 3.2% | 2.20 → 2.00 | −9% | −0.3 pp | +61% |
| 11 | Deepak Nitrite Limited | 3.1% | 18.56 → 14.84 | −20% | −1.3 pp | −7% |
| 12 | Chambal Fertilizers & Chemicals Limited | 2.9% | 2.42 → 3.25 | +34% | +0.9 pp | +83% |
| 13 | Bayer Cropscience Limited | 2.5% | 21.36 → 31.89 | +49% | +1.2 pp | −7% |
| 14 | Tata Chemicals Limited | 2.5% | −33.37 → −2.20 | loss, smaller one-off | +20.7 pp | −20% |
| 15 | Himadri Speciality Chemical Limited | 2.4% | 2.34 → 3.15 | +35% | +1.1 pp | +57% |
| 16 | Navin Fluorine International Limited | 2.4% | 14.20 → 19.15 | +35% | +0.6 pp | +35% |
| 17 | BASF India | 2.2% | 37.31 → 10.88 | −71% one-off | −3.0 pp | +33% |
| 18 | Atul Limited | 2.1% | 19.84 → 42.97 | +117% | +1.8 pp | +7% |
| 19 | Vinati Organics Limited | 1.9% | 10.05 → 11.87 | +18% | +0.5 pp | +8% |
| 20 | PCBL Chemical Limited | 1.8% | 2.95 → 2.65 | −10% | −0.3 pp | +58% |
| Sector earnings growth | 100% | +68.3 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q3 FY25, as market caps moved.
Joined the top 20 since Q3 FY25
Left the top 20 since Q3 FY25
- SWAN CORP 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% |
| 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% |
| PIIND | +43% | +28% | +32% | +17% | +6% | −17% | −11% | −11% | −19% | −16% | −39% | −39% |
| 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% |
| FACT | −27% | −82% | to loss | to loss | −90% | −74% | turned profitable | turned profitable | +88% | to loss | −95% | to loss |
| SUMICHEM | −29% | −39% | +52% | +105% | +34% | +58% | −9% | +41% | −8% | −13% | +12% | +20% |
| DEEPAKNTR | +18% | −3% | +8% | +35% | −6% | −51% | −20% | −45% | −39% | +2% | +9% | +207% |
| 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 |
| HSCL | outside | outside | outside | +27% | +20% | +17% | +35% | +48% | +30% | +32% | +26% | +24% |
| NAVINFLUOR | +5% | −27% | −48% | outside | outside | outside | +35% | +129% | +144% | +115% | +117% | +101% |
| BASF | outside | outside | +96% | +96% | −14% | −26% | −71% | −33% | −21% | +2% | outside | outside |
| ATUL | −40% | −32% | −37% | sources disagree | +52% | +54% | +117% | +14% | +31% | +48% | +66% | +92% |
| 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 |