According to the latest insights from the Plastic Export Promotion Council (PLEXCONCIL), the Indian plastics industry has transitioned into a major economic powerhouse. Valued at approximately USD 26.61 billion in 2025, the sector is projected to reach USD 44.59 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.9%.

The industry dates back to 1957 with the production of polystyrene and has now expanded to over 30,000 processing units—employing more than 5 million people nationwide. Backed by government initiatives like “Make in India” and the approval of 10 Plastic Parks across states like Madhya Pradesh, Assam, Tamil Nadu, Odisha, and Jharkhand, India is rapidly moving toward a massive industry turnover target of INR 10,00,000 crore (USD 126 billion) in the coming years.

On the global front, India exported USD 12.5 billion worth of plastics in FY25, up from USD 11.5 billion in FY24, serving over 200 countries. The USA remains India’s largest market, accounting for 17.11% of total exports (USD 985.54 million), followed by the UAE at 5.80%. With PLEXCONCIL targeting USD 25 billion in exports by 2027, top plastic companies in India are leading this massive capacity expansion.

Plastic Sector Growth & Export Trends

The sector’s growth is driven primarily by plastic raw materials (the largest export category at USD 3,090 million) and plastic films/sheets. The momentum has safely carried into the current fiscal year, with cumulative exports for FY26 (April-August 2025) rising by 6.61% year-on-year to reach USD 5.3 billion.

List of Top 50 Plastic Companies in India

Top 10 Plastic Companies in India by Market Cap

Below is the list of the biggest plastic manufacturers in India. Sorted according to their market cap, ROCE, promoter holdings and other key factors.

#1 Supreme Industries – Largest Plastic Company in India

Supreme Industries, established in 1942, is India’s largest plastics processor, handling vast volumes of polymers annually across piping systems, consumer products, and industrial components. In its latest Q4 FY26 results, Supreme delivered a stellar performance despite unfavourable PVC resin prices. The company reported a massive 46% YoY jump in net profit (PAT) to INR 382 crore, while revenue from operations surged 16.5% YoY to reach INR 3,528 crore.

Supreme is aggressively expanding its operational footprint. The company officially launched its new business vertical, ‘Griham’ (Windows & Doors), along with premium brands ‘Moho’ (Bath Fittings) and ‘Valvion’ (Industrial Valves) at PlastIndia 2026. To capture rising domestic demand, Supreme is executing a massive capital expenditure of INR 1,000 crore for FY27 to set up new greenfield units in Patna, Jammu, Gadegaon, and JNPT. This capex will further enhance their existing 1.24 million MT capacity to a target of 1.5 million MT by 2028.

• Market Cap – INR 45,792 crore
• CMP – INR 3,605
• P/E Ratio – 48.00
• ROCE – 21.20%
• 5-Year Profit Var. – -0.44%
• EV / EBITDA – 26.60

#2 Astral: Second Among Biggest Plastic Companies in India

Astral has transformed into a powerhouse in the Indian building materials segment. Originally introducing CPVC piping tech to India, Astral is now a household name across plumbing, drainage, adhesives, and paints. In its latest FY26 financial results, the company delivered exceptional growth, reporting an 18.7% YoY increase in consolidated net profit (PAT) to INR 545.6 crore. Revenue from operations jumped to a record INR 6,568 crore, driven by the highest volume growth and EBITDA margins among all leading piping industry players.

Operationally, Astral made a historic move by acquiring a stake in Nexelon Chem to set up a captive 40,000 MT CPVC resin plant. This backward integration makes Astral the only Indian pipe manufacturer to produce its own CPVC resin. Furthermore, the company successfully decentralized its manufacturing by operationalizing new facilities in Kanpur and Hyderabad. To aggressively push its adhesives business.

• Market Cap – INR 41,684 crore
• CMP – INR 1,551
• P/E Ratio – 75.60
• ROCE – 19.90%
• 5-Year Profit Var. – 6.57%
• EV / EBITDA – 37.00
• Promoter Holding – 54.22%

#3 Garware Hi Tech

Garware Hi-Tech Films is a leading global manufacturer of hi-tech, value-added specialty polyester films. In its latest Q4 FY26 results, the company delivered a highly robust performance, with its net profit (PAT) jumping to INR 108 crore (showcasing an impressive 18.1% PAT margin). The company’s operating profit (EBITDA) also hit a record INR 157 crore with margins expanding to 26.2%, largely supported by its fully backward-integrated “chips-to-film” manufacturing capability.

Operationally, Garware is transforming from commodity plastics to premium specialty solutions, with Value-Added Products (VAP) like sun control and paint protection films (PPF) now contributing an 87% of its total revenue. During FY26, the company deployed an INR 700 crore capex (financed entirely via internal accruals) to double its PPF capacity to 60 million sq. ft. and set up new TPU and SCF lines.

• Market Cap – INR 12,987 crore
• CMP – INR 5,590
• P/E Ratio – 38.40
• ROCE – 18.00%
• 5-Year Profit Var. – 22.00%
• EV / EBITDA – 25.70
• Promoter Holding – 60.72%

#4 Shaily Engineering

Shaily Engineering Plastics specializes in the ultra-precise world of injection-moulded engineering plastics, serving complex industries such as healthcare, home furnishings, and automotive. The precision plastics maker reported a stellar 40% YoY surge in consolidated net profit (PAT) to INR 40.2 crore in Q4 FY26. Revenue from operations stood at INR 236.8 crore (up 9% YoY), heavily driven by a massive 101% YoY revenue growth in its high-margin healthcare segment. The company also posted a robust EBITDA margin of 29.3%, expanding 420 bps from the previous year.

Operationally, Shaily is rapidly accelerating its transition into a global, IP-led manufacturing platform. The company successfully launched its ‘Shaily Harmony’ and ‘Shaily Neo’ pens for Semaglutide globally and recently secured a massive INR 423 crore long-term order for pen injectors from a large domestic pharma giant. Furthermore, the company is diversifying into the global semiconductor supply chain, recently signing a strategic agreement with a Korean firm to manufacture semiconductor trays.

• Market Cap – INR 12,670 crore
• CMP – INR 2,749
• P/E Ratio – 78.50
• ROCE – 30.20%
• 5-Year Profit Var. – 48.90%
• EV / EBITDA – 47.00

#5 Finolex Industries

Finolex Industries is a heritage brand and the second-largest manufacturer of PVC pipes in India. It holds a unique structural moat as the country’s only fully backward-integrated pipes and fittings company with its own PVC resin manufacturing facility. In its latest Q3 FY26 results, the company’s operating profit (EBITDA) surged to INR 123 crore (up from INR 83 crore YoY), while Profit Before Tax (PBT) jumped a massive 54% YoY to INR 146 crore.

During the quarter, the company expanded its grassroots marketing by serving as a Gold Sponsor at the national-level Agrovision 2025 expo and executing targeted BTL campaigns. Furthermore, Finolex continues to deeply embed its brand equity in tier-2 and tier-3 markets by launching community water facilities (like a 50,000-litre storage project in Gujarat).

• Market Cap – INR 10,909 crore
• CMP – INR 176
• P/E Ratio – 22.90
• ROCE – 8.77%
• 5-Year Profit Var. – 4.12%
• EV / EBITDA – 14.30
• Promoter Holding – 52.47%

#6 Time Technoplast

Time Technoplast is a multinational polymer company in India, dominating the industrial packaging sector and high-tech composite products. In Q3 FY26 results, the company reported a 25.4% YoY jump in net profit (PAT) to INR 126.3 crore. Revenue from operations surged 13% YoY to reach INR 1,567 crore, while operating profit (EBITDA) margins expanded to a healthy 15.0%.

To capture the green energy transition, the company is currently commissioning a fully automated Greenfield Composite CNG plant in Morai, Gujarat. In a major breakthrough, they also successfully flight-tested India’s first hydrogen-powered drone using their proprietary Type-III composite cylinder (which recently received PESO approval), positioning them uniquely in the global clean-energy and UAV markets.

• Market Cap – INR 8,782 crore
• CMP – INR 178
• P/E Ratio – 19.70
• ROCE – 17.40%
• 5-Year Profit Var. – 18.00%
• EV / EBITDA – 10.60
• Promoter Holding – 47.51%

#7 Kingfa Science

Kingfa Science & Technology (India) is a dominant tier-1 supplier of modified plastics and customized polymer composites to the automotive and consumer durables industries. As Indian automakers aggressively transition to EVs and lightweight vehicle structures to boost battery range, Kingfa’s engineered plastics are seeing record demand. Their latest FY26 quarterly numbers reflect this structural tailwind, showing sustained volume growth and operational efficiency. Their industry-leading ROCE of 30.55% underscores how successfully they are capitalizing on the auto-sector’s material transformation.

• Market Cap – INR 7,068.67 crore
• CMP – INR 5,216.20
• P/E Ratio – 42.07
• ROCE – 30.55%
• EV / EBITDA – 26.14
• Promoter Holding – 67.02%

#8 Prince Pipes: Most Popular Among Top Plastic Stocks in India

Prince Pipes and Fittings has emerged as one of India’s fastest-growing piping solution brands. In its latest Q4 FY26 results, the company delivered a remarkable turnaround, reporting a staggering 133% YoY surge in net profit (PAT) to INR 56 crore. Revenue from operations jumped 18% YoY to INR 850 crore. Operationally, Prince Pipes is aggressively expanding its product portfolio and national footprint. During the quarter, the company successfully completed the second phase of its asset purchase agreement for the Bhuj bathware manufacturing facility.

They are rapidly scaling their premium bathware brand, ‘Aquel by Prince’, which has now expanded to over 200 retail touchpoints across key tier-2 and tier-3 markets. In a major product innovation, the company also launched ‘DECILO’—a premium, low-noise polypropylene pipe system powered by German technology, significantly strengthening its competitive edge in the modern plumbing segment.

• Market Cap – INR 3,000.13 crore
• CMP – INR 271.35
• P/E Ratio – 39.86
• ROCE – 6.12%
• EV / EBITDA – 12.44
• Promoter Holding – 60.95%

#9 Apollo Pipes

Apollo Pipes, backed by the strong corporate lineage of the APL Apollo Group, is aggressively expanding its market share in the PVC and CPVC pipes space. In its latest Q4 FY26 results, the company showed meaningful volume recovery despite a challenging macro environment. Sales volume surged 21% YoY to reach 31,366 MT, driving revenue up by 10% YoY to INR 347 crore. However, due to raw material volatility and prolonged unseasonal rainfall, profitability was temporarily impacted, with operating profit (EBITDA) dropping 25% YoY to INR 18 crore and net profit standing at INR 1.0 crore. Management noted these challenges are transient and expects significantly better performance in FY27 as PVC prices stabilize.

The company recently entered a partnership with global leader Lubrizol to manufacture premium CPVC pipes using proprietary TempRite® Technology, which will drastically improve product performance and win-rates in large institutional projects. Apollo is aggressively scaling its production, targeting a total capacity of 2,88,000 MT over the next two years, which includes a new greenfield plant in Varanasi. They are also leveraging their recent strategic acquisition of Kisan Mouldings (adding 58,000 MT capacity).

• Market Cap – INR 2,285 crore
• CMP – INR 519
• P/E Ratio – 305.00
• ROCE – 2.10%
• 3-Year Profit Var. – (76.22%)
• EV / EBITDA – 30.20
• Promoter Holding – 51.72%

#10 Jain Irrigation

Jain Irrigation Systems is a pioneer in agricultural water management, micro-irrigation systems, and polymer piping networks. Their deep-rooted relationship with Indian farmers provides them with a unique demographic edge. In the context of their latest FY26 financial period, the company is focusing heavily on executing high-margin domestic orders aligned with government agricultural schemes like “Per Drop More Crop”. Despite past financial restructuring, the company’s sheer scale in polymer-based infrastructure keeps its operating cash flows relevant in the agri-tech plastics space.

• Market Cap – INR 2,226.11 crore
• CMP – INR 30.53
• P/E Ratio – 0.35
• ROCE – 5.31%
• EV / EBITDA – 7.83
• Promoter Holding – 26.68%

Top Plastic Companies in India FAQs

Rajat Bhati has a strong technical background and 5 years of experience in the stock market. He focuses on equity research, technical analysis, IPO valuations, and risk management, helping investors make clearer, data-backed decisions. Today, he works full-time to educate people about the opportunities in IPO market.