Who makes India's chemicals
14 listed companies earned ₹185,024 crore from chemicals in FY25. Reliance Industries Ltd earned the most, 66.0% of it. National Aluminium Company Ltd earned the most on each rupee of sales: 47.6%.
Who sells the most
Reliance Industries Ltd had 66.0% of the listed companies' revenue from chemicals here, 9.3 times as much as Pidilite Industries Ltd, the next largest. The two together sold 73%; the other 12 the rest.
How the sales have grown, and who sold them
The listed companies here earned ₹1.89 lakh Cr from chemicals in FY26. Counting only the companies with figures in both years, sales went from ₹3,507 Cr in FY19 to ₹13,152 Cr, 3.8 times as much. The biggest rise was in FY23 (+66%) and the weakest year FY25 (-35%). Reliance Industries Ltd's part of the total went from 66% in FY25 to 64% in FY26. Over three years Navin Fluorine International Ltd grew fastest, +16.2% a year. Some companies are counted only from a later year (Reliance Industries Ltd from FY23; Pidilite Industries Ltd from FY25; Grasim Industries Ltd from FY25; National Aluminium Company Ltd from FY25; SRF Ltd from FY25; Apar Industries Ltd from FY25; Himadri Speciality Chemical Ltd from FY25; Godrej Industries Ltd from FY25; UPL Ltd from FY25; Mangalore Refinery And Petrochemicals Ltd from FY23; Thermax Ltd from FY25; Berger Paints India Ltd from FY23).
Who earns the most on each rupee
Operating profit before interest and tax, as a share of revenue from chemicals. Pidilite Industries Ltd earned 28.0% on its sales in FY26, against 26.5% in FY25. Grasim Industries Ltd earned 14.8% on its sales in FY26, against 14.1% in FY25. Solar Industries India Ltd earned 25.4% on its sales in FY26, against 17.0% in FY17. National Aluminium Company Ltd earned 33.5% on its sales in FY26, against 47.6% in FY25. SRF Ltd earned 29.1% on its sales in FY26, against 24.9% in FY25.
The companies, and their brands
| Company and brands | Sales FY25 | Growth 1 yr | 3 yrs | 5 yrs | Margin | Profit share | Return on assets | P/E | ROE | Share price 1 yr |
|---|---|---|---|---|---|---|---|---|---|---|
| Reliance Industries Ltd Sells in 35 states and 112 countries; exports 50.98% of turnover |
₹122,063 Cr estimate |
-1.2% | -17.8% | — | — | — | — | 21.1 | 7.9% | -15.2% |
| Pidilite Industries Ltd Sells in 36 states and 74 countries; exports 7.01% of turnover |
₹13,085 Cr | +11.1% | — | — | 26.5% | 25.4% | 35.1% | 57.6 | 23.4% | +0.4% |
| Grasim Industries Ltd Sells in 36 states and 92 countries; exports 9.0% of turnover |
₹8,567 Cr | +10.8% | — | — | 14.1% | 8.8% | 13.3% | 34.7 | 0.8% | +4.9% |
| Solar Industries India Ltd Sells in 28 states and 90 countries; exports 47.65% of turnover |
₹7,540 Cr | +30.5% | +12.3% | +31.1% | 24.5% | 13.5% | — | 91.3 | 33.5% | +43.7% |
| National Aluminium Company Ltd | ₹6,814 Cr | -10.9% | — | — | 47.6% | 23.8% | 61.6% | 8.7 | 29.1% | +43.4% |
| SRF Ltd | ₹6,687 Cr | +16.3% | — | — | 24.9% | 12.2% | 15.3% | 34.2 | 14.2% | -18.1% |
| Apar Industries Ltd Sells in 36 states and 140 countries; exports 29.77% of turnover |
₹4,784 Cr | +5.0% | — | — | 7.2% | 2.5% | 13.2% | 61.2 | 20.6% | +111.7% |
| Himadri Speciality Chemical Ltd Sells in 25 states and 61 countries; exports 31.54% of turnover |
₹4,510 Cr | -4.7% | — | — | 15.5% | 5.1% | 22.1% | 41.4 | 18.1% | +41.6% |
| Godrej Industries Ltd Sells in 28 states and 70 countries; exports 24.0% of turnover |
₹3,206 Cr | +23.5% | — | — | 11.3% | 2.6% | 16.2% | 28.6 | -7.3% | -6.1% |
| UPL Ltd Sells in 21 states; exports 65.15% of turnover |
₹2,372 Cr | +17.8% | — | — | 10.0% | 1.7% | 17.8% | 21.7 | 6.0% | -21.7% |
| Navin Fluorine International Ltd Sells in 27 states and 32 countries; exports 66.61% of turnover |
₹2,349 Cr | +41.1% | +16.2% | +21.1% | 19.5% | 3.4% | — | 54.9 | 15.8% | +73.0% |
| Mangalore Refinery And Petrochemicals Ltd Sells in 22 states and 22 countries; exports 28.43% of turnover |
₹1,901 Cr estimate |
— | — | — | — | — | — | 9.8 | 14.2% | +24.7% |
| Thermax Ltd | ₹741 Cr | +0.0% | — | — | 16.5% | 0.9% | 13.9% | 62.6 | 11.3% | +6.2% |
| Berger Paints India Ltd Sells in 28 states and 5 countries; exports 0.38% of turnover |
₹406 Cr estimate |
-69.2% | -9.3% | — | — | — | — | 45.6 | 18.2% | -10.8% |
Also sold by
See every one of these companies in Valarth
Questions people ask
Who makes India's chemicals?
14 listed companies report their revenue from chemicals: Reliance Industries Ltd (RELIANCE), Pidilite Industries Ltd (PIDILITIND), Grasim Industries Ltd (GRASIM), Solar Industries India Ltd (SOLARINDS), National Aluminium Company Ltd (NATIONALUM), SRF Ltd (SRF), Apar Industries Ltd (APARINDS), Himadri Speciality Chemical Ltd (HSCL). 2 more sell them but report them together with other products.
Which listed company earns the most from chemicals in India?
Reliance Industries Ltd, with revenue from chemicals of ₹122,063 crore in FY25: 66.0% of the listed companies' total here.
How much do listed companies earn from chemicals?
The listed companies here earned ₹185,024 crore from chemicals in FY25. Private makers are not included.
Which listed company makes the most profit from chemicals?
National Aluminium Company Ltd: its operating profit was 47.6% of its revenue from chemicals in FY25.