
3 Leading Paint Maker, Life Science and Performance Chemicals Company and Fluorochemicals and Films Maker Stocks With a Strong Future Roadmap: Berger Paints India, Atul and SRF
Berger Paints India, Atul and SRF: ROE of 10.9% to 16.3% and FY22 to FY26 revenue CAGR of 5.9% to 8.0%. Prices as of 26 Oct 2026.
Updated: 27 Oct 2026 • 12:25 pm
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Quick Answer
The three paint, specialty chemical and fluoro stocks to watch are Berger Paints India, Atul and SRF. Their return on equity ranges from 10.9% to 16.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.9% to 8.0%. Berger Paints India leads on both return on equity at 16.3% and revenue growth at 8.0% a year. Prices are based on the 26 October 2026 close, and this article is educational, not investment advice.
Paint, specialty chemical and fluoro stocks offer a focused view of a sector where demand keeps widening. Berger Paints India, Atul and SRF cover a leading paint maker, a life science and performance chemicals company and a fluorochemicals and films maker.
This list covers three paint, specialty chemical and fluoro stocks with complete current figures: Berger Paints India, Atul and SRF. Every figure comes from the latest reported financials and the 26 October 2026 market close. Companies without complete current figures were left out.
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What Are Paint, Specialty Chemical and Fluoro Stocks?
Paint, specialty chemical and fluoro stocks are listed companies that make decorative and industrial coatings, specialty chemicals and advanced materials for homes and global industry. Their earnings depend on housing activity, export orders, new products and input costs.
Paint, Specialty Chemical and Fluoro Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Berger Paints India | 465.8 | 54,785 | 45.0 | 42.6 | 16.3 | 0.09 |
| Atul | 5,354 | 17,898 | 22.1 | 35.1 | 10.9 | 0.03 |
| SRF | 2,340 | 69,274 | 30.4 | 33.9 | 14.9 | 0.35 |
On valuation, Atul and SRF trade at a P/E below the industry P/E, while Berger Paints India trades above it, which reflects the growth the market already expects. Readers comparing paint, specialty chemical and fluoro stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Paint, Specialty Chemical and Fluoro Stocks Have a Strong Roadmap in India?
Paint, specialty chemical and fluoro stocks have a strong roadmap in India because housing growth, global sourcing of speciality chemicals and new materials keep widening demand.
- Housing demand. New and old homes need regular repainting.
- Specialty chemicals. Life science and polymer users need niche inputs.
- Fluorochemicals. Refrigerants and films find global buyers.
Why Berger Paints India Features Among These Paint, Specialty Chemical and Fluoro Stocks
Among the paint, specialty chemical and fluoro stocks on this list, Berger Paints India is a leading paint maker with decorative, industrial and protective coatings, selling through a wide dealer network across India and in select overseas markets.
Revenue rose from Rs 8,826 crore in FY22 to Rs 11,987 crore in FY26, a compound annual growth rate of 8.0%. Net profit grew from Rs 833 crore in FY22 to Rs 1,128 crore in FY26, which works out to a compound annual growth rate of 7.9%.
In the June 2026 quarter, revenue grew 12.2% year on year to Rs 3,623 crore, while net profit rose 28.6% to Rs 405 crore. The company has a return on equity of 16.3%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 54,785 crore. The stock trades at a P/E of 45.0, above the industry P/E of 42.6.
Roadmap: The company is expanding capacity and its dealer reach while adding home improvement and waterproofing products. Housing demand and repainting cycles support steady volumes.
What to watch: Track volume growth, new capacity and input costs.
Why Atul Features Among These Paint, Specialty Chemical and Fluoro Stocks
Among the decorative coating brand shares on this list, Atul is a Gujarat-based chemical company with life science chemicals for crop protection and pharmaceuticals, and performance and other chemicals that include aromatics, colours and polymers.
In the June 2026 quarter, revenue grew 25.1% year on year to Rs 1,881 crore, while net profit rose 91.8% to Rs 254 crore. Revenue rose from Rs 5,157 crore in FY22 to Rs 6,476 crore in FY26, a compound annual growth rate of 5.9%.
Net profit grew from Rs 507 crore in FY23 to Rs 689 crore in FY26, which works out to a compound annual growth rate of 10.8%. The company has a return on equity of 10.9%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 17,898 crore. The stock trades at a P/E of 22.1, below the industry P/E of 35.1.
Roadmap: The company supplies many industries from a single integrated site and has been adding capacity in higher-value chemicals. A broad product basket across agriculture, pharma and consumer uses spreads demand.
What to watch: Check capacity additions and demand in agrochemical and pharmaceutical intermediates.
Why SRF Features Among These Paint, Specialty Chemical and Fluoro Stocks
Among the three companies on this list, SRF is a diversified chemicals and materials company with fluorospecialty chemicals, refrigerant gases, packaging films and technical textiles, with customers in India and overseas.
The company has a return on equity of 14.9%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 69,274 crore. The stock trades at a P/E of 30.4, below the industry P/E of 33.9.
Revenue rose from Rs 12,549 crore in FY22 to Rs 15,894 crore in FY26, a compound annual growth rate of 6.1%. Net profit grew from Rs 1,336 crore in FY24 to Rs 1,835 crore in FY26, which works out to a compound annual growth rate of 17.2%.
Roadmap: The company is expanding in specialty chemicals and refrigerant gases while its packaging films and technical textiles businesses add scale. A mix of segments spreads earnings.
What to watch: Track specialty chemicals growth, refrigerant gas demand and capacity additions.
Berger Paints India vs Atul vs SRF on Key Financials
The table below sets the three paint, specialty chemical and fluoro stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Berger Paints India | 8,826 | 11,987 | 8.0% | 1,128 | 9.4% |
| Atul | 5,157 | 6,476 | 5.9% | 689 | 10.6% |
| SRF | 12,549 | 15,894 | 6.1% | 1,835 | 11.5% |
Berger Paints India posts the highest return on equity in this group at 16.3%. SRF has the largest FY26 revenue at Rs 15,894 crore, and Berger Paints India shows the fastest revenue growth with a 8.0% compound annual rate. A useful habit with paint, specialty chemical and fluoro stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Paint, Specialty Chemical and Fluoro Stocks
Every theme carries risks that deserve a check before any decision. For these paint, specialty chemical and fluoro stocks, the main points are:
- Input costs. Crude linked inputs and energy prices affect margins.
- Global demand. Export orders can vary between periods.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter paint, specialty chemical and fluoro stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Paint, Specialty Chemical and Fluoro Stocks
Paint, specialty chemical and fluoro stocks reward patient research into demand, execution and financial strength. Berger Paints India, Atul and SRF each have a clear plan to grow. Based on the 26 October 2026 close, Berger Paints India trades at Rs 465.8, Atul at Rs 5,354 and SRF at Rs 2,340.
Download the Univest iOS App or Univest Android App to track paint, specialty chemical and fluoro stocks, set price alerts and get research-backed stock ideas.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are paint, specialty chemical and fluoro stocks?
Ans. Paint, specialty chemical and fluoro stocks are listed companies that make decorative and industrial coatings, specialty chemicals and advanced materials for homes and global industry. Their earnings depend on housing activity, export orders, new products and input costs. This list looks at three of them, Berger Paints India, Atul and SRF, using reported FY22 to FY26 financials and the 26 October 2026 closing prices.
Which paint, specialty chemical and fluoro stocks are covered in this list?
Ans. This list covers Berger Paints India, Atul and SRF. Based on the 26 October 2026 close, Berger Paints India traded at Rs 465.8, Atul at Rs 5,354 and SRF at Rs 2,340. Their return on equity ranges from 10.9% to 16.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.9% to 8.0%.
Why do paint, specialty chemical and fluoro stocks have a strong future roadmap in India?
Ans. Paint, specialty chemical and fluoro stocks have a strong roadmap in India because housing growth, global sourcing of speciality chemicals and new materials keep widening demand. The main drivers are as follows. Housing demand. New and old homes need regular repainting. Specialty chemicals. Life science and polymer users need niche inputs. Fluorochemicals. Refrigerants and films find global buyers. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Berger Paints India performed financially?
Ans. Revenue rose from Rs 8,826 crore in FY22 to Rs 11,987 crore in FY26, a compound annual growth rate of 8.0%. Net profit grew from Rs 833 crore in FY22 to Rs 1,128 crore in FY26, which works out to a compound annual growth rate of 7.9%. In the June 2026 quarter, revenue grew 12.2% year on year to Rs 3,623 crore, while net profit rose 28.6% to Rs 405 crore. The company has a return on equity of 16.3%, a debt to equity ratio of 0.09 and a market capitalisation of Rs 54,785 crore. The stock trades at a P/E of 45.0, above the industry P/E of 42.6. Looking ahead, the company is expanding capacity and its dealer reach while adding home improvement and waterproofing products. Housing demand and repainting cycles support steady volumes.
How has Atul performed financially?
Ans. Revenue rose from Rs 5,157 crore in FY22 to Rs 6,476 crore in FY26, a compound annual growth rate of 5.9%. Net profit grew from Rs 507 crore in FY23 to Rs 689 crore in FY26, which works out to a compound annual growth rate of 10.8%. In the June 2026 quarter, revenue grew 25.1% year on year to Rs 1,881 crore, while net profit rose 91.8% to Rs 254 crore. The company has a return on equity of 10.9%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 17,898 crore. The stock trades at a P/E of 22.1, below the industry P/E of 35.1. Looking ahead, the company supplies many industries from a single integrated site and has been adding capacity in higher-value chemicals. A broad product basket across agriculture, pharma and consumer uses spreads demand.
How has SRF performed financially?
Ans. Revenue rose from Rs 12,549 crore in FY22 to Rs 15,894 crore in FY26, a compound annual growth rate of 6.1%. Net profit grew from Rs 1,336 crore in FY24 to Rs 1,835 crore in FY26, which works out to a compound annual growth rate of 17.2%. The company has a return on equity of 14.9%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 69,274 crore. The stock trades at a P/E of 30.4, below the industry P/E of 33.9. Looking ahead, the company is expanding in specialty chemicals and refrigerant gases while its packaging films and technical textiles businesses add scale. A mix of segments spreads earnings.
What risks should investors check before buying paint, specialty chemical and fluoro stocks?
Ans. Investors should check a few risks before buying paint, specialty chemical and fluoro stocks. Input costs. Crude linked inputs and energy prices affect margins. Global demand. Export orders can vary between periods. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of paint, specialty chemical and fluoro stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 26 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
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