Top 10 Chemical Companies in India 2024

The chemical industry plays an important role in India's economy, serving as a cornerstone for various sectors such as agriculture, healthcare, manufacturing, and infrastructure. Indian chemical companies have not only established a strong domestic presence but also gained international recognition for their innovation, quality, and competitiveness. In this article, We highlight the diverse landscape of Indian chemical companies, and their contribution to economic growth, technological advancement, and sustainability.

The history of India's chemical industry is very old, dating back to ancient times when the country was known for its expertise in traditional practices such as dyeing and medicine. However, it is the modern era that has seen Indian chemical companies truly making their mark.

One of the driving forces behind the success of Indian chemical companies is their constant focus on innovation. From developing new processes and products to leveraging cutting-edge technologies, these companies are constantly pushing the boundaries possible in the field of chemistry.

Also Read: Top 10 Pharmaceutical Companies in India 2024

Top Chemical Companies List by Market Capitalisation

Here are the top ten chemical companies in India based on various factors such as revenue, market share, and industry reputation:

1. Pidilite Industries Ltd

• Market Cap: ₹ 161,470.75 Cr.
• Sales (latest quarter): ₹ 2901.85 Cr.
• Net Profit (latest quarter): ₹ 304.29 Cr.
• Quarterly profit growth: 23.66 %
• Exchange: BSE, NSE
• Official Website: pidilite.com

Pidilite Industries Ltd, established in 1959 by Balvantray Kalyanji Parekh, is a leading Indian manufacturer of adhesives, sealants, and construction chemicals. Known for its flagship brand Fevicol, which has become synonymous with adhesives in India, Pidilite has grown into a diversified chemical company with a strong presence in both consumer and industrial segments. In the current market scenario, Pidilite maintains a dominant position in the Indian adhesives and sealants market, bolstered by a wide range of innovative and trusted products. The company's extensive product portfolio includes adhesives like Fevicol, M-Seal, Dr. Fixit, and Fevikwik, as well as specialty chemicals, art and craft materials under brands like Fevicryl and Hobby Ideas, and a variety of waterproofing solutions. Pidilite's commitment to quality, innovation, and sustainability has helped it build strong brand equity and customer loyalty. The company has also expanded its footprint internationally, catering to markets in Asia, the Middle East, Africa, and the Americas. Despite facing competition and market fluctuations, Pidilite continues to thrive through continuous product development, strategic acquisitions, and an extensive distribution network. Its focus on consumer-centric solutions and strong marketing initiatives ensures its leadership position in the adhesives and construction chemicals industry.

2. Linde India Ltd

• Market Cap: ₹ 76,743.81 Cr.
• Sales (latest quarter): ₹ 630.07 Cr.
• Net Profit (latest quarter): ₹ 104.33 Cr.
• Quarterly profit growth: 5.66 %
• Exchange: BSE, NSE
• Official Website: linde.in

Linde India Ltd, formerly known as BOC India, is a leading player in the industrial gas sector in India, with roots tracing back to its establishment in 1935. Initially part of the British Oxygen Company (BOC), it was later acquired by the Linde Group, a global industrial gases and engineering company, which significantly enhanced its capabilities and market reach. In the current market scenario, Linde India stands out as a major supplier of industrial and medical gases, including oxygen, nitrogen, argon, hydrogen, and specialty gases, catering to diverse industries such as steel, automotive, healthcare, chemicals, and food processing. The company also provides engineering solutions, including the design and construction of air separation units, cryogenic storage, and distribution systems. Linde India is known for its focus on innovation, safety, and sustainability, continually investing in advanced technologies to improve efficiency and reduce environmental impact. Despite challenges like fluctuating industrial demand and regulatory changes, the company maintains a strong market position through its extensive distribution network, robust infrastructure, and strategic customer relationships. Linde India's commitment to delivering high-quality, reliable gas solutions ensures its continued leadership and growth in the Indian industrial gas market.

3. SRF Ltd

• Market Cap: ₹ 68,990.02 Cr.
• Sales (latest quarter): ₹ 3569.74 Cr.
• Net Profit (latest quarter): ₹ 422.21 Cr.
• Quarterly profit growth: -24.93 %
• Exchange: BSE, NSE
• Official Website: srf.com

SRF Ltd, established in 1970 as Shri Ram Fibres, has evolved into a diversified multi-business entity, primarily focusing on chemicals, technical textiles, and packaging films. Founded by Bharat Ram, the company initially started with the production of nylon cord fibers for tires but soon expanded into other segments. Over the decades, SRF has transformed itself into a global player with operations in India, Thailand, South Africa, and Hungary. In the current market scenario, SRF is a leading manufacturer of specialty chemicals, industrial intermediates, technical textiles like belting fabrics and laminated fabrics, and a significant player in the packaging films industry. The company’s product range caters to various industries, including automotive, pharmaceutical, agrochemical, and FMCG. SRF’s chemicals segment, particularly fluorochemicals, has seen robust growth, driven by its focus on innovation and sustainability. The company is also a major producer of refrigerants and industrial chemicals. Despite facing challenges such as regulatory pressures and market volatility, SRF maintains a strong market position through its commitment to quality, continuous R&D investment, and a strategic global presence. The company’s diverse product portfolio, strong brand equity, and focus on operational excellence ensure its continued growth and leadership in the specialty chemicals and technical textiles markets.

4. Gujarat Fluorochemicals Ltd

• Market Cap: ₹ 35,037.06 Cr.
• Sales (latest quarter): ₹ 1133.03 Cr.
• Net Profit (latest quarter): ₹ 100.97 Cr.
• Quarterly profit growth: -69.58 %
• Exchange: BSE, NSE
• Official Website: gfl.co.in

Gujarat Fluorochemicals Ltd (GFL), established in 1987, is a prominent player in the specialty chemicals industry, particularly known for its expertise in fluorochemicals. A part of the Inox Group, GFL started as a manufacturer of chlorofluorocarbons (CFCs) but swiftly diversified into various other fluorine-based chemicals and refrigerants. Over the years, GFL has significantly expanded its product portfolio to include PTFE (polytetrafluoroethylene), fluoropolymers, fluoroelastomers, and other specialty chemicals. In the current market scenario, GFL holds a strong market position both domestically and internationally, supplying high-performance materials to industries such as automotive, electronics, pharmaceuticals, and renewable energy. The company is recognized for its commitment to sustainability, innovation, and quality, leveraging advanced technologies to produce environmentally friendly alternatives to traditional CFCs. GFL’s strategic investments in R&D and capacity expansion have enabled it to meet the growing global demand for specialty chemicals. Despite challenges such as regulatory changes and market competition, GFL continues to thrive by maintaining a diverse product range and robust distribution network. The company's focus on operational excellence, coupled with its ability to adapt to market dynamics, ensures its continued leadership and growth in the fluorochemicals sector.

5. Deepak Nitrite Ltd

• Market Cap: ₹ 31,590.75 Cr.
• Sales (latest quarter): ₹ 2126.21 Cr.
• Net Profit (latest quarter): ₹ 253.85 Cr.
• Quarterly profit growth: -16.26 %
• Exchange: BSE, NSE
• Official Website: godeepak.com

Deepak Nitrite Ltd, established in 1970, is a leading Indian chemical manufacturing company founded by Chimanlal Khimchand Mehta. Initially focused on manufacturing sodium nitrite and sodium nitrate, the company has grown significantly over the decades, diversifying into various chemical sectors. In the current market scenario, Deepak Nitrite is recognized for its wide-ranging product portfolio that includes basic chemicals, fine and specialty chemicals, and performance products. The company's key products include phenol, acetone, IPA, DASDA, and various specialty chemicals used in the pharmaceutical, agrochemical, rubber, dyes, and petrochemical industries. Deepak Nitrite's strategic expansion into the production of phenol and acetone has positioned it as a major player in these markets, significantly enhancing its revenue and market presence. The company's commitment to innovation, quality, and sustainability has driven its growth, with continuous investments in research and development. Despite challenges such as fluctuating raw material prices and regulatory pressures, Deepak Nitrite maintains a robust market position through efficient operations, a strong distribution network, and strategic customer relationships. The company's focus on delivering high-quality chemical solutions and its ability to adapt to market demands ensure its continued success and leadership in the chemical industry.

6. Tata Chemicals Ltd

• Market Cap: ₹ 28,307.46 Cr.
• Sales (latest quarter): ₹ 3475 Cr.
• Net Profit (latest quarter): ₹ -841 Cr.
• Quarterly profit growth: -82.28 %
• Exchange: BSE, NSE
• Official Website: tatachemicals.com

Tata Chemicals Ltd, established in 1939, is a flagship company of the Tata Group, one of India's largest and most respected conglomerates. Initially focused on the production of basic chemicals such as soda ash and salt, the company has significantly diversified and expanded its operations over the decades. In the current market scenario, Tata Chemicals is a global leader in the chemical industry with a strong presence in the production of soda ash, sodium bicarbonate, and cement. The company's product portfolio also includes specialty chemicals, agricultural solutions, and consumer products, such as Tata Salt and Tata Sampann range of pulses and spices. Tata Chemicals is also at the forefront of the green chemistry movement, developing sustainable and innovative solutions, including nutritional science, material sciences, and new ventures in biotechnology. The company's robust global footprint spans North America, Europe, Africa, and Asia, contributing to its strong market presence. Despite challenges like fluctuating raw material costs and regulatory changes, Tata Chemicals remains competitive through continuous innovation, strategic acquisitions, and a strong commitment to sustainability. Its focus on quality, extensive distribution network, and diversified product range ensure its leadership position and continued growth in the global chemical industry.

7. Godrej Industries Ltd

• Market Cap: ₹ 26,897.97 Cr.
• Sales (latest quarter): ₹ 4567.27 Cr.
• Net Profit (latest quarter): ₹ -25.34 Cr.
• Quarterly profit growth: -108.44 %
• Exchange: BSE, NSE
• Official Website: godrejchemicals.com

Godrej Industries Ltd, established in 1897, is part of the renowned Godrej Group, one of India’s oldest and most diversified conglomerates. Initially starting as a manufacturer of high-quality soaps and vegetable-based products, Godrej Industries has significantly diversified over the decades. In the current market scenario, Godrej Industries is a leading player in various sectors, including chemicals, consumer goods, real estate, agriculture, and financial services. The company’s chemical division, Godrej Chemicals, produces a wide range of products, including oleochemicals, surfactants, and fatty alcohols, catering to industries like personal care, pharmaceuticals, and industrial applications. The consumer goods segment, represented by Godrej Consumer Products Ltd (GCPL), is well-known for its popular brands in personal care, home care, and hair care, such as Cinthol, Godrej No.1, and Good Knight. Godrej Properties, the real estate arm, is a prominent player in the Indian real estate market, known for its innovative and sustainable projects. Despite facing market volatility and competitive pressures, Godrej Industries maintains a robust market presence through continuous innovation, strategic expansions, and a strong focus on sustainability and social responsibility. Its diversified product range, strong brand equity, and commitment to quality ensure its leadership and growth in multiple sectors.

8. Aarti Industries Ltd

• Market Cap: ₹ 23,890.75 Cr.
• Sales (latest quarter): ₹ 1773 Cr.
• Net Profit (latest quarter): ₹ 132 Cr.
• Quarterly profit growth: -11.41 %
• Exchange: BSE, NSE
• Official Website: aarti-industries.com

Aarti Industries Ltd, founded in 1984, has grown to become one of India's leading chemical manufacturing companies. Initially focusing on producing benzene-based intermediates, the company has significantly diversified its product portfolio over the decades. In the current market scenario, Aarti Industries is a major player in the specialty chemicals and pharmaceuticals sectors. Its extensive product range includes benzene derivatives, sulphuric acid, toluene derivatives, and other specialty chemicals used in agrochemicals, polymers, pigments, dyes, pharmaceuticals, and rubber chemicals. The company also produces active pharmaceutical ingredients (APIs) and intermediates, catering to both domestic and international markets. Aarti Industries' commitment to innovation, quality, and sustainability has driven its growth, with substantial investments in research and development and state-of-the-art manufacturing facilities. The company has a strong global presence, exporting its products to over 60 countries, which helps mitigate market volatility and expand its customer base. Despite challenges like fluctuating raw material prices and stringent regulatory environments, Aarti Industries maintains a robust market position through strategic expansions, acquisitions, and a focus on high-margin products. Its diversified product range, strong customer relationships, and emphasis on operational excellence ensure its continued leadership and growth in the chemical and pharmaceutical industries.

9. BASF India Ltd

• Market Cap: ₹ 20,266.02 Cr.
• Sales (latest quarter): ₹ 3359.97 Cr.
• Net Profit (latest quarter): ₹ 161.51 Cr.
• Quarterly profit growth: 127 %
• Exchange: BSE, NSE
• Official Website: basf.com

BASF India Ltd, a subsidiary of the German multinational BASF SE, has a rich historical background dating back to its establishment in India in 1943. Initially focused on producing basic chemicals, BASF India has since evolved into a key player in the Indian chemical industry, offering a wide range of innovative products and solutions. In the current market scenario, BASF India operates across multiple segments, including chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. The company's extensive product portfolio includes chemicals for industrial applications, construction chemicals, automotive coatings, crop protection products, and performance polymers. BASF India is known for its commitment to sustainability, innovation, and quality, leveraging its global expertise to address local market needs. The company invests significantly in research and development, continuously introducing new products and technologies to enhance its competitive edge. Despite challenges such as economic fluctuations and regulatory changes, BASF India maintains a robust market presence through strategic collaborations, a strong distribution network, and a focus on customer-centric solutions. Its comprehensive product range, emphasis on sustainability, and dedication to technological advancements ensure its continued growth and leadership in the Indian chemical industry.

10. Castrol India Ltd

• Market Cap: ₹ 19,800.13 Cr.
• Sales (latest quarter): ₹ 1325.24 Cr.
• Net Profit (latest quarter): ₹ 216.24 Cr.
• Quarterly profit growth: 6.79 %
• Exchange: BSE, NSE
• Official Website: castrol.co.in

Castrol India Ltd, a subsidiary of British multinational BP, has a storied history dating back to its establishment in 1910. Initially known for producing high-quality lubricants, Castrol India has grown to become a leading player in the Indian lubricants market. In the current market scenario, Castrol India holds a strong market position and is renowned for its wide range of automotive and industrial lubricants. The company's product portfolio includes engine oils, transmission fluids, greases, and specialty lubricants, catering to various segments such as automotive, industrial, marine, and aviation. Notable brands like Castrol EDGE, Castrol MAGNATEC, and Castrol Activ have become synonymous with high performance and reliability. Castrol India's commitment to innovation and quality has driven its success, with ongoing investments in research and development to introduce advanced products that meet evolving market demands. Despite facing competition from both local and international players, Castrol India continues to maintain a competitive edge through its strong distribution network, strategic partnerships, and robust marketing initiatives. The company's focus on sustainability and customer-centric solutions further enhances its market presence. Castrol India's dedication to delivering high-performance lubricants ensures its continued leadership and growth in the Indian lubricants industry.

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Conclusion:

Indian chemical companies are at the forefront of innovation, driving growth and value creation in various industries. With an emphasis on sustainability, innovation, and quality, these companies are not only catering to the evolving needs of domestic and international markets but are also contributing to India's emergence as a global chemical superpower. As the industry continues to evolve and expand, Indian chemical companies are set to play a key role in shaping the future of the global chemical landscape.