3 Pigment, Chlor-Alkali and Zinc Stocks With a Strong Future Roadmap: Ultramarine & Pigments, DCM Shriram and JG Chemicals

Pigment, chlor-alkali and zinc stocks give investors exposure to chemicals used in paints, plastics, rubber and manufacturing. Capacity use, input costs and product prices decide how much of that demand turns into profit.

This list covers three pigment, chlor-alkali and zinc stocks: Ultramarine & Pigments for pigment range, DCM Shriram for chlor-alkali, fertiliser and sugar mix and JG Chemicals for zinc oxide products. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.

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What Are Pigment, Chlor-Alkali and Zinc Stocks?

Pigment, chlor-alkali and zinc stocks are shares of companies that make pigments, chlor-alkali products and zinc chemicals. Results depend on capacity use, input costs and product prices, so margins and capacity use separate the stronger names.

Pigment, Chlor-Alkali and Zinc Stocks at a Glance

The table compares size, valuation, return on equity and debt for the three pigment, chlor-alkali and zinc stocks as of the 9 Oct 2026 close.

Among industrial chemicals stocks, all three trade at a discount to their industry P/E multiples.

Why Do Pigment, Chlor-Alkali and Zinc Stocks Have a Strong Roadmap in India?

Pigment, chlor-alkali and zinc stocks have a strong roadmap in India because industrial users in paints, rubber, tyres and plastics need a steady supply of basic chemicals. Three drivers stand out.

• Manufacturing demand: Paint, tyre and plastic makers buy chemicals every month.
• Import substitution: Local supply can replace costlier imports.
• Capacity additions: New lines support volumes as demand grows.

Ultramarine & Pigments: Pigments for Plastics and Paints Drive the Pipeline

Ultramarine's roadmap rests on ultramarine blue pigments and related colourants for plastics, paints and detergents, with steady industrial demand supporting volumes.

Revenue grew from Rs 499.48 crore in FY22 to Rs 786.41 crore in FY26, a 57.4% rise, and FY26 revenue was 11.2% higher than FY25. FY26 net profit rose 7.6% to Rs 80.77 crore. Over four years, net profit rose from Rs 58.30 crore in FY22 to Rs 80.77 crore. In Q1 FY27, revenue grew 31.2% to Rs 245.68 crore. Operating margin was 17.91% in FY26 and 21.33% in Q1 FY27 against 18.78% a year earlier.

Debt to equity is 0.10 and return on equity is 9.29%. FY26 operating cash flow was Rs 128.27 crore against capital expenditure of Rs 67.87 crore. Ultramarine paid a dividend of Rs 6 per share for FY26, a yield of 1.50%. At a P/E of 12.67 against an industry P/E of 36.60, the stock trades below its industry multiple.

What to watch: Q1 FY27 operating margin was 21.33% against 17.91% for FY26, so margin stability is the figure to follow as volumes grow.

DCM Shriram: Chemicals, Sugar and Farm Inputs Drive the Pipeline

DCM Shriram's roadmap rests on chlor-vinyl chemicals, sugar, agri inputs and building products, with a spread across chemicals, farm inputs and consumer products supporting stability.

Revenue grew from Rs 9,719.33 crore in FY22 to Rs 13,734.48 crore in FY26, a 41.3% rise, and FY26 revenue was 12.4% higher than FY25. FY26 net profit rose 41.7% to Rs 855.98 crore. In Q1 FY27, revenue grew 9.6% to Rs 3,812.29 crore. Operating margin was 11.30% in FY26 and 11.77% in Q1 FY27 against 9.46% a year earlier.

Debt to equity is 0.38 and return on equity is 11.07%. FY26 operating cash flow was Rs 1,233.80 crore against capital expenditure of Rs 887.31 crore. DCM Shriram paid a dividend of Rs 11.2 per share for FY26, a yield of 1.18%. At a P/E of 10.39 against an industry P/E of 14.76, the stock trades below its industry multiple.

What to watch: Q1 FY27 operating margin was 11.77% against 11.30% for FY26, so margin stability is the figure to follow as volumes grow.

JG Chemicals: Zinc Oxide Demand Builds the Next Leg

JG Chemicals' roadmap rests on zinc oxide used in tyres, ceramics, paints and other industrial products, with steady industrial demand supporting volumes.

Revenue grew from Rs 623.05 crore in FY22 to Rs 988.77 crore in FY26, a 58.7% rise, and FY26 revenue was 15.2% higher than FY25. FY26 net profit rose 2.8% to Rs 68.65 crore. Over four years, net profit rose from Rs 43.13 crore in FY22 to Rs 68.65 crore. Operating margin was 10.09% in FY26 and 11.48% in Q1 FY27 against 10.65% a year earlier.

Debt to equity is 0.01 and return on equity is 12.47%. FY26 operating cash flow was Rs 43.57 crore against capital expenditure of Rs 39.03 crore. The dividend yield is 0.16%. At a P/E of 31.94 against an industry P/E of 36.60, the stock trades below its industry multiple.

What to watch: The P/E of 31.94 against an industry P/E of 36.60 leaves valuation less stretched, so the next quarters' growth is the figure to follow.

Best Pigment, Chlor-Alkali and Zinc Stocks in India: Ultramarine vs DCM Shriram vs JG Chemicals on Key Financials

Among the best pigment, chlor-alkali and zinc stocks in India, Ultramarine leads on FY26 operating margin and dividend yield; DCM Shriram leads on FY26 net profit growth and the lowest P/E; JG Chemicals leads on FY26 revenue growth and return on equity. The table puts the numbers side by side.

Chemical earnings follow capacity use, input costs and product prices, so full-year numbers and quarterly trends together give a better view.

How to Evaluate Pigment, Chlor-Alkali and Zinc Stocks to Buy Before You Invest

A short checklist keeps the research consistent when you screen pigment, chlor-alkali and zinc stocks and shortlist pigment, chlor-alkali and zinc stocks to buy.

1. Compare each stock's P/E with its industry P/E, which differs by company here.
2. Check margin stability through raw material cycles.
3. Check whether revenue growth is turning into profit growth, not only sales.
4. Read operating cash flow against capital expenditure to see how growth is funded.
5. Watch debt to equity and interest cover before sizing a position.
6. Spread exposure across companies and business lines instead of one demand cycle.

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Risks to Consider Before Investing in Pigment, Chlor-Alkali and Zinc Stocks

• Input costs: Energy and raw material costs can move margins.
• Pricing cycles: Commodity chemical prices can swing.
• Quarterly trends: A single weak quarter can change near-term earnings, so track results every quarter.

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Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.

Comparing a quarter with the same quarter of the previous year gives a cleaner reading than comparing it with the preceding quarter, since seasonal patterns affect many businesses in India.

The shareholding pattern published every quarter shows whether promoters, mutual funds and foreign investors are raising or trimming their holdings, which adds useful context to the financial numbers.

Spreading money across several sectors and company sizes helps keep a portfolio steady, because each business responds differently to interest rates, commodity prices and consumer demand.

Investors who plan to hold for several years often review results twice a year, check whether management delivered on earlier guidance and compare progress with the original reasons for investing.

Final Take: Which Stock Has the Strongest Roadmap?

These three industrial chemicals stocks cover pigments, chlor-alkali and zinc-based chemicals. Ultramarine leads on FY26 operating margin and dividend yield; DCM Shriram leads on FY26 net profit growth and the lowest P/E; JG Chemicals leads on FY26 revenue growth and return on equity.

Across pigment, chlor-alkali and zinc stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the pigment, chlor-alkali and zinc stocks to buy discussed here.

FAQs on Pigment, Chlor-Alkali and Zinc Stocks

Which are the best pigment, chlor-alkali and zinc stocks in India with a strong roadmap?

Ans. Ultramarine & Pigments, DCM Shriram and JG Chemicals stand out for their roadmaps in pigments, chlor-alkali and zinc-based chemicals. FY26 revenue growth was 11.2% at Ultramarine, 12.4% at DCM Shriram and 15.2% at JG Chemicals, and return on equity ranges from 9.29% to 12.47%.

Is Ultramarine & Pigments a good stock to buy now?

Ans. Ultramarine & Pigments has a debt to equity ratio of 0.10, a return on equity of 9.29% and a P/E of 12.67 against an industry P/E of 36.60. Valuation, input costs and pricing cycles move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.

What is the P/E ratio of Ultramarine, DCM Shriram and JG Chemicals?

Ans. The P/E ratio is 12.67 for Ultramarine (industry 36.60), 10.39 for DCM Shriram (industry 14.76) and 31.94 for JG Chemicals (industry 36.60). All of them trade below the industry multiple.

Which of these pigment, chlor-alkali and zinc stocks has the highest return on equity?

Ans. JG Chemicals has the highest return on equity at 12.47%, followed by DCM Shriram at 11.07% and Ultramarine & Pigments at 9.29%.

What are the risks of investing in pigment, chlor-alkali and zinc stocks?

Ans. The main risks are input costs, pricing cycles and quarterly trends. Energy and raw material costs can move margins.

How did Ultramarine, DCM Shriram and JG Chemicals perform in Q1 FY27?

Ans. Ultramarine & Pigments reported revenue of Rs 245.68 crore, up 31.2% year on year. DCM Shriram reported revenue of Rs 3,812.29 crore, up 9.6% year on year. JG Chemicals reported .

Do pigment, chlor-alkali and zinc stocks pay dividends?

Ans. Yes, all three companies pay dividends. The dividend yield is 1.50% for Ultramarine, 1.18% for DCM Shriram and 0.16% for JG Chemicals, based on dividends declared for FY26.

How can I invest in pigment, chlor-alkali and zinc stocks in India?

Ans. You can buy pigment, chlor-alkali and zinc stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.