India’s chemical industry is one of the most diverse in the world, encompassing over 80,000 products and employing more than 2 million people. The country ranks as the sixth-largest global chemical producer and holds the third position in Asia, contributing ~7 percent to the nation’s GDP. Valued at around $220 billion, the sector is projected to grow to $300 billion by 2030 and reach $1 trillion by 2040.
On the global stage, India stands as the fourth-largest agrochemical producer, following the United States, Japan, and China. The country is responsible for about 16-18 percent of the world’s dyestuff and dye intermediate output. With a ~15 percent share in the global colourants market, India has established itself as a significant player.
Here are a few low-debt chemical stocks as of Q1 FY26 worth keeping an eye on
1. Acutaas Chemicals Limited
With a market cap of Rs. 10,623.3 crores, the stock moved up by around 4 percent on BSE to hit a new 52-week high at Rs. 1,379 on Friday. Acutaas Chemicals Limited, formerly known as Ami Organics Limited, is a speciality chemicals manufacturer serving a wide range of industries, including pharmaceuticals, semiconductors, battery chemicals, personal care, agrochemicals, and fine chemicals.
On the financial front, the company’s revenue from operations grew by around 17 percent YoY to Rs. 207 crores, while the net profit also grew by nearly 193 percent YoY to Rs. 44 crores in Q1 FY26.
In terms of key financial metrics, Acutaas Chemicals has a Return on Equity (RoE) of 16 percent and a return on capital employed (RoCE) of 19.9 percent, with a debt to equity ratio of 0.01.
2. Aether Industries Limited
With a market cap of Rs. 10,020.5 crores, the stock moved down by around 1.5 percent on BSE to close in the red at Rs. 755.75 on Friday. Aether Industries is engaged in the business of speciality chemicals and intermediates. The products of the Aether find application in various sectors like pharmaceuticals, agrochemicals, specialty, electronic chemicals, material sciences, high-performance photography, and more.
On the financial front, the company’s revenue from operations grew by around 42 percent YoY to Rs. 256 crores, while the net profit also grew by nearly 57 percent YoY to Rs. 47 crores in Q1 FY26.
In terms of key financial metrics, Aether Industries has a Return on Equity (RoE) of 7.8 percent and a return on capital employed (RoCE) of 10.2 percent, with a debt to equity ratio of 0.09.
3. Himadri Speciality Chemical Limited
With a market cap of Rs. 22,870 crores, the stock moved down by around 2 percent on BSE to close in the red at Rs. 463.1 on Friday. Himadri Speciality Chemical Limited is primarily engaged in the manufacturing of carbon materials and chemicals.
On the financial front, the company’s revenue from operations declined marginally by around 7 percent YoY to Rs. 1,118 crores, while the net profit grew by nearly 45 percent YoY to Rs. 179 crores in Q1 FY26.
In terms of key financial metrics, Himadri Speciality Chemical has a Return on Equity (RoE) of 16.4 percent and a return on capital employed (RoCE) of 22 percent, with a debt to equity ratio of 0.08.
4. Archean Chemical Limited
With a market cap of Rs. 8,050 crores, the stock moved down by around 2 percent on BSE to close in the red at Rs. 652.2 on Friday. Archean Chemical Industries Limited (ACIL) is a specialty chemicals manufacturing company engaged in the production and supply of industrial salt, liquid bromine, and sulphate of potash (SOP).
On the financial front, the company’s revenue from operations grew by around 37 percent YoY to Rs. 292 crores, but the net profit declined by nearly 11 percent YoY to Rs. 40 crores in Q1 FY26.
In terms of key financial metrics, Archean Chemical has a Return on Equity (RoE) of 9.8 percent and a return on capital employed (RoCE) of 12.8 percent, with a debt to equity ratio of 0.13.
Written by Shivani Singh
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