Sector analysis · India
Chemicals sector earnings growth, Q3 FY26
The 20 largest Chemicals companies by market cap at the end of Q3 FY26 (31 Dec 2025), compared with Q3 FY25.
The top 20 at Q3 FY26
Q3 FY26 vs Q3 FY25: combined net profit ₹4,589 cr (0%), median EPS +8% (12 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 | 16.5% | 5.43 → 6.07 | +12% | +1.4 pp | +2% |
| 2 | Solar Industries India Limited | 12.1% | 34.80 → 49.31 | +42% | +2.8 pp | +25% |
| 3 | SRF Limited | 10.0% | 9.14 → 14.60 | +60% | +3.4 pp | +37% |
| 4 | UPL Limited | 7.3% | 9.81 → 4.69 | −52% | −9.2 pp | +78% |
| 5 | Coromandel International Limited | 7.3% | 17.37 → 17.15 | −1% | −0.1 pp | +21% |
| 6 | F A C T | 6.5% | 0.12 → −1.05 | to loss | −1.6 pp | −7% |
| 7 | Linde India | 5.5% | 13.64 → 22.67 | +66% | +1.6 pp | −1% |
| 8 | PI Industries Limited | 5.4% | 24.57 → 20.52 | −16% one-off | −1.3 pp | −12% |
| 9 | Gujarat Fluorochemicals Limited | 4.4% | 11.47 → 9.38 | −18% | −0.5 pp | −12% |
| 10 | Navin Fluorine International Limited | 3.3% | 16.86 → 36.18 | +115% | +2.2 pp | +82% |
| 11 | Himadri Speciality Chemical Limited | 2.7% | 2.88 → 3.81 | +32% | +1.1 pp | −17% |
| 12 | Deepak Nitrite Limited | 2.6% | 7.19 → 7.32 | +2% | 0.0 pp | −31% |
| 13 | Sumitomo Chemical India Limited | 2.6% | 1.74 → 1.52 | −13% | −0.2 pp | −12% |
| 14 | Bayer Cropscience Limited | 2.2% | 7.61 → 21.29 | +180% | +1.3 pp | −18% |
| 15 | Tata Chemicals Limited | 2.1% | −2.08 → −3.65 | loss, bigger one-off | −0.9 pp | −27% |
| 16 | Chambal Fertilizers & Chemicals Limited | 2.1% | 13.34 → 14.64 | +10% | +1.1 pp | −2% |
| 17 | Atul Limited | 2.0% | 36.93 → 54.60 | +48% | +1.1 pp | −12% |
| 18 | BASF India | 1.9% | 23.93 → 24.29 | +2% | 0.0 pp | −29% |
| 19 | Vinati Organics Limited | 1.8% | 9.04 → 9.73 | +8% | +0.2 pp | −12% |
| 20 | Deepak Fertilizers and Petrochemicals Corporation Limited | 1.8% | 19.86 → 11.21 | −44% | −2.3 pp | +8% |
| Sector earnings growth | 100% | +0.1 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q2 FY26, as market caps moved.
Joined the top 20 since Q2 FY26
Left the top 20 since Q2 FY26
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% |
| UPL | to loss | to loss | −95% | to loss | loss, bigger | turned profitable | +2,157% | loss, smaller | turned profitable | −52% | +18% | turned profitable |
| 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 |
| 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% |
| 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% |
| 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% |
| 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 |
| CHAMBLFERT | outside | +42% | outside | +37% | +46% | +21% | +34% | +22% | +21% | +10% | +30% | −5% |
| ATUL | −40% | −32% | −37% | sources disagree | +52% | +54% | +117% | +14% | +31% | +48% | +66% | +92% |
| BASF | outside | outside | +96% | +96% | −14% | −26% | −71% | −33% | −21% | +2% | outside | outside |
| VINATIORGA | −27% | −39% | −10% | 0% | +23% | +21% | +18% | +24% | +10% | +8% | outside | outside |
| DEEPAKFERT | outside | outside | outside | outside | outside | outside | outside | +24% | +2% | −44% | outside | +102% |