Pidilite to Solar Industries: 10 Chemical Stocks Leading the Nifty Chemicals Index; Check the List
The Nifty Chemicals Index tracks the performance of companies from the Nifty 500 that belong to the chemicals sector. It selects the top 20 eligible stocks based on their six-month average free-float market capitalisation, with preference given to stocks available for trading in the NSE derivatives segment.
The index is free-float market-cap weighted, meaning companies with higher free-float market capitalisation carry greater weight. It was launched on March 11, 2025, has a base value of 1,000, and is rebalanced semi-annually. The index can be used for benchmarking portfolios and developing index funds, ETFs, and structured products.
The Nifty Chemicals Index has a dividend yield of 0.59 percent, a P/B ratio of 4.04, and a P/E ratio of 44.72, reflecting the index’s valuation levels and dividend income potential for investors. Here’s a look at the Chemical stocks and their respective weightages
Pidilite Industries Ltd
Pidilite Industries is a leading Indian consumer and specialty chemicals company known for its strong portfolio of adhesives, sealants, waterproofing products, construction chemicals, pigments, and industrial solutions. Its key brands include Fevicol, Fevikwik, M-Seal, and Dr. Fixit, serving household, construction, automotive, industrial, and other applications across India and international markets.
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The company holds the highest weightage of 14.05 percent in the Nifty Chemicals Index. It has a strong ROCE of 31.0 percent and ROE of 23.9 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.04, showing that the company has no significant debt burden.
Solar Industries India Ltd
Solar Industries India is a diversified energy-materials company engaged in manufacturing industrial explosives, initiating systems and blasting solutions for mining, infrastructure and construction. The company has also expanded into defence, producing ammunition, high-energy materials, rocket propellants, warheads and other defence products, with manufacturing and operations across multiple countries.
The company holds the second-highest weightage of 13.16 percent in the Nifty Chemicals Index. It has a strong ROCE of 38.1 percent and ROE of 32.6 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.24, showing that the company has no significant debt burden.
SRF Ltd
SRF Ltd. is a diversified chemicals and materials company with businesses spanning specialty chemicals, fluorochemicals, performance films and foils, technical textiles, coated fabrics and laminated fabrics. Its products serve industries including pharmaceuticals, agrochemicals, healthcare, packaging, automotive, agriculture and infrastructure, supported by integrated manufacturing capabilities and research and development.
The company holds the third-highest weightage of 9.99 percent in the Nifty Chemicals Index. It has a good ROCE of 14.6 percent and ROE of 14.3 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.36, showing that the company has no significant debt burden.
Navin Fluorine International Ltd
Navin Fluorine International is a specialised fluorine chemistry company with capabilities across high-performance products, specialty chemicals, contract development and manufacturing, and advanced materials. Its products and services cater to pharmaceuticals, agrochemicals, cooling, electronics and other industries. The company has developed expertise in complex fluorination chemistry, research, process development, and large-scale manufacturing.
The company holds the fourth-highest weightage of 8.58 percent in the Nifty Chemicals Index. It has a good ROCE of 21.0 percent and ROE of 19.6 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.32, showing that the company has no significant debt burden.
UPL Ltd
UPL Ltd . is a global agricultural solutions company providing crop protection products and sustainable farming solutions. Its portfolio includes herbicides, fungicides, insecticides, seed treatments, biosolutions, seeds, and other agricultural inputs. The company has a presence across many countries and serves farmers through a broad international manufacturing, R&D, and distribution network.
The company holds the fifth-highest weightage of 8.47 percent in the Nifty Chemicals Index. It has a decent ROCE of 10.1 percent and ROE of 5.64 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.68, showing that the company has no significant debt burden.
Coromandel International Ltd
Coromandel International is a leading Indian agri-solutions company operating across fertilisers, crop protection, specialty nutrients, bio-products and agricultural retail. It provides products and services across the farming value chain, from crop nutrition to crop health. The company also operates an extensive rural retail network and offers advisory and technology-enabled farming solutions.
The company holds the sixth-highest weightage of 6.12 percent in the Nifty Chemicals Index. It has a good ROCE of 22.0 percent and ROE of 16.4 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.12, showing that the company has no significant debt burden.
Gujarat Fluorochemicals Ltd
Gujarat Fluorochemicals is an Indian fluorine chemistry company with expertise in fluoropolymers, fluorospecialities, refrigerants and other fluorine-based chemicals. Its products cater to diverse industries, including mobility, telecommunications, healthcare and architecture. The company focuses on product innovation, customised solutions, advanced applications, and sustainable manufacturing across its fluorochemical portfolio.
The company holds the seventh-highest weightage of 5.32 percent in the Nifty Chemicals Index. It has a decent ROCE of 9.64 percent and ROE of 7.82 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.35, showing that the company has no significant debt burden.
PI Industries Ltd
PI Industries is a diversified life sciences company with a strong presence in agricultural sciences and a growing health sciences business. Its operations span crop protection, biologicals, custom synthesis and manufacturing, and CRDMO services. The company combines R&D capabilities, global partnerships, and manufacturing expertise to develop science-led solutions for agriculture and healthcare.
The company holds the eighth-highest weightage of 5.16 percent in the Nifty Chemicals Index. It has a decent ROCE of 15.0 percent and ROE of 11.2 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.03, showing that the company has no significant debt burden.
Himadri Speciality Chemical Ltd
Himadri Speciality Chemical is a global specialty chemicals company focused on carbon-based materials, new energy materials and value-added chemical products. Its portfolio includes specialty carbon black, coal tar pitch, refined naphthalene, lithium-ion battery anode materials, specialty oils, SNF and power, serving industries such as batteries, tyres, aluminium, paints and plastics.
The company holds the ninth-highest weightage of 4.16 percent in the Nifty Chemicals Index. It has a good ROCE of 22.1 percent and ROE of 17.8 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.16, showing that the company has no significant debt burden.
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Linde India Ltd
Linde India is a leading industrial gases and engineering company and part of Linde plc. Its operations include production and supply of industrial gases as well as project engineering services. The company designs, supplies, installs, and commissions air separation units, nitrogen plants, PSA plants, and gas distribution systems, while also manufacturing cryogenic equipment.
The company holds the tenth-highest weightage of 3.61 percent in the Nifty Chemicals Index. It has a good ROCE of 18.2 percent and ROE of 13.7 percent, indicating efficient use of capital and good returns for shareholders. Its debt-to-equity ratio is 0.02, showing that the company has no significant debt burden.