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Indian (NIFTY) Energy Sector Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies50
  • 7D-0.4%
  • 3M-2.2%
  • 1Y-7.9%
  • YTD-11.6%

Over the last 7 days, the Energy industry has remained flat, although notably Aegis Logistics gained 16%. As for the longer term, the industry has declined 7.9% in the last year. As for the next few years, earnings are expected to grow by 5.8% per annum.

Sector Valuation and Performance

Has the Indian Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026₹30.7t₹38.3t₹2.6t20.2x11.7x0.8x
Sun, 31 May 2026₹31.2t₹38.3t₹2.6t18.9x11.9x0.8x
Tue, 28 Apr 2026₹32.2t₹37.8t₹2.4t21.1x13.2x0.9x
Thu, 26 Mar 2026₹32.1t₹37.3t₹2.5t18x13.1x0.9x
Sat, 21 Feb 2026₹33.3t₹37.3t₹2.5t19.4x13.5x0.9x
Mon, 19 Jan 2026₹33.2t₹37.1t₹2.3t20.8x14.5x0.9x
Wed, 17 Dec 2025₹33.9t₹36.8t₹2.3t23.7x14.9x0.9x
Fri, 14 Nov 2025₹34.0t₹36.8t₹2.3t22.9x14.9x0.9x
Sun, 12 Oct 2025₹31.7t₹36.4t₹2.1t22.3x15.1x0.9x
Tue, 09 Sep 2025₹30.8t₹36.4t₹2.1t20.3x14.7x0.8x
Thu, 07 Aug 2025₹29.8t₹36.5t₹2.0t18.9x15x0.8x
Sat, 05 Jul 2025₹32.1t₹36.5t₹1.9t21.4x16.9x0.9x
Mon, 02 Jun 2025₹30.3t₹36.5t₹1.9t19.7x15.9x0.8x
Wed, 30 Apr 2025₹29.6t₹36.1t₹1.9t18.6x15.6x0.8x
Fri, 28 Mar 2025₹27.5t₹35.9t₹1.9t19.4x14.4x0.8x
Sun, 23 Feb 2025₹26.5t₹35.9t₹1.9t20.2x13.9x0.7x
Tue, 21 Jan 2025₹28.6t₹36.0t₹2.0t22.9x14.3x0.8x
Thu, 19 Dec 2024₹27.9t₹35.9t₹2.0t22.7x14x0.8x
Sat, 16 Nov 2024₹28.1t₹35.9t₹2.0t21.7x14.1x0.8x
Mon, 14 Oct 2024₹32.6t₹36.4t₹2.3t25x14x0.9x
Wed, 11 Sep 2024₹34.2t₹36.4t₹2.3t25.5x14.7x0.9x
Fri, 09 Aug 2024₹34.5t₹36.3t₹2.3t24.8x14.9x0.9x
Sun, 07 Jul 2024₹35.3t₹36.0t₹2.6t26.1x13.5x1x
Tue, 04 Jun 2024₹34.4t₹36.0t₹2.6t21.7x13.1x1x
Thu, 02 May 2024₹33.1t₹35.5t₹2.5t21.8x13.2x0.9x
Sat, 30 Mar 2024₹31.4t₹35.3t₹2.6t14.4x12.3x0.9x
Mon, 26 Feb 2024₹32.0t₹35.3t₹2.6t16.6x12.5x0.9x
Wed, 24 Jan 2024₹27.5t₹35.4t₹2.5t15.8x11.2x0.8x
Fri, 22 Dec 2023₹25.9t₹35.3t₹2.4t12.8x10.6x0.7x
Sun, 19 Nov 2023₹23.8t₹35.3t₹2.4t12.6x9.7x0.7x
Tue, 17 Oct 2023₹23.1t₹36.2t₹2.0t14.8x11.5x0.6x
Thu, 14 Sep 2023₹23.5t₹36.2t₹2.0t13.1x11.7x0.6x
Sat, 12 Aug 2023₹23.7t₹36.4t₹2.0t13.7x11.9x0.7x
Mon, 10 Jul 2023₹24.2t₹37.6t₹1.6t13.8x15.2x0.6x
Price to Earnings Ratio

15.2x


Total Market Cap: ₹24.2tTotal Earnings: ₹1.6tTotal Revenue: ₹37.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Energy Sector Price to Earnings3Y Average 13.5x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Energy industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 11.7x which is lower than its 3-year average PE of 13.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.83x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have grown 18% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Indian Energy sector?

IN Market0.87%
Energy-0.39%
Oil and Gas-0.39%
Energy Services-1.75%
Industry PE
  • Investors are most optimistic about the Energy Services industry even though it's trading below its 3-year average PE ratio of 24.1x.
    • Analysts are expecting annual earnings growth of 34.5%, which is higher than its past year's earnings growth of 23.9% per year.
  • Investors are most pessimistic about the Oil and Gas industry, which is trading below its 3-year average of 13.5x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 24% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 5.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AEGISLOG Aegis Logistics₹1.32k15.9%
+₹63.6b		76.8%PE51.7x
VOGL Vedanta Oil and Gas₹44.5933.7%
+₹44.0b		n/aPS19.9x
ONGC Oil and Natural Gas₹235.961.2%
+₹36.0b		-3.3%PE7.2x
COALINDIA Coal India₹438.900.8%
+₹23.1b		13.6%PE9.3x
OIL Oil India₹420.203.3%
+₹21.8b		-7.2%PE10.3x

Latest News

500109
₹150.10
Mangalore Refinery and Petrochemicals
7D
-2.6%
1Y
1.6%
IOC
₹141.62
Indian Oil
7D
-1.6%
1Y
-4.2%
GMDCLTD
₹608.85
Gujarat Mineral Development
7D
3.8%
1Y
49.3%
HINDPETRO
₹399.55
Hindustan Petroleum
7D
-2.4%
1Y
-8.5%
AEGISLOG
₹1,321.90
Aegis Logistics
7D
15.9%
1Y
76.8%
500620
₹1,422.50
Great Eastern Shipping
7D
-5.1%
1Y
42.2%
Narrative Update • Jun 25

500620: High Fleet Utilisation And Ongoing Fleet Renewal Will Support Future Upside

The latest Narrative Update on Great Eastern Shipping keeps the analyst fair value estimate unchanged at ₹1,865, with analysts citing consistent assumptions for the discount rate, revenue growth, profit margin, and future P/E as the basis for maintaining their price target view. What’s in the News for Great Eastern Shipping Great Eastern Shipping took delivery of the 2014 built Medium Range tanker “Jag Prabhu,” of about 49,420 dwt, on June 17, 2026.
BPCL
₹310.45
Bharat Petroleum
7D
0.2%
1Y
-6.3%
Narrative Update • Jun 23

BPCL: New Leadership And Steady Outlook Will Support Future Upside

Analysts have trimmed their price target for Bharat Petroleum slightly, with fair value moving from about ₹337 to around ₹333. This reflects minor adjustments to long term assumptions on profit margins and future P/E multiples, while keeping core growth and discount rate inputs broadly unchanged.
OIL
₹420.20
Oil India
7D
3.3%
1Y
-7.2%
Narrative Update • Jun 23

OIL: Energy Transition Projects Will Temper Benefits From New Gas Discovery

Analysts have nudged their fair value estimate for Oil India slightly higher, from ₹383.56 to ₹387.44, reflecting updated assumptions that include a changed discount rate, lower revenue growth and profit margin expectations, and a higher future P/E multiple. What’s in the News for Oil India Oil India signed a Memorandum of Understanding with the Council of Scientific and Industrial Research on June 15, 2026, to work together on research, technology development and innovation across upstream and downstream oil and gas, enhanced oil recovery, renewable energy, sustainable energy practices and critical minerals.
PETRONET
₹275.20
Petronet LNG
7D
-2.5%
1Y
-8.5%
Narrative Update • Jun 18

PETRONET: Board Changes And Dividend Decision Will Guide Steady Share Price

Analysts now set a slightly lower fair value price target of ₹314 for Petronet LNG, trimming it from about ₹315, as they factor in more measured assumptions for revenue growth, profit margins, and the stock's future P/E multiple. What’s in the News for Petronet LNG Board meeting scheduled for May 4, 2026, to consider and approve audited financial results for the quarter and year ended March 31, 2026, and to consider recommending a final dividend for FY 2025-26 on equity shares, subject to shareholder approval in the upcoming AGM (source: company event filing).
RELIANCE
₹1,303.50
Reliance Industries
7D
-1.1%
1Y
-14.1%
Narrative Update • Jun 17

RELIANCE: Green Ammonia Agreement Will Support Future Stock Earnings Visibility

Analysts have nudged their fair value estimate for Reliance Industries slightly higher to about ₹1,699 from roughly ₹1,696, citing updated assumptions for revenue growth, profit margins and future P/E. These changes reflect a more constructive long term earnings outlook, while the discount rate remains unchanged.
ONGC
₹235.96
Oil and Natural Gas
7D
1.2%
1Y
-3.3%
Narrative Update • Jun 15

ONGC: Future Cash Flows Will Support Dividends As Petrochemical JV Expands

Narrative Update on Oil and Natural Gas The analyst price target for the oil and natural gas sector has been adjusted slightly lower, with fair value moving by ₹4.0 to ₹308.1, as analysts factor in a marginally lower profit margin outlook and a slightly reduced future P/E of 10.19x, while keeping revenue growth and discount rate assumptions broadly unchanged. Analyst Commentary Recent Street research around cyclical and AI linked sectors offers useful context for how analysts are thinking about valuation, growth and execution risk.
530355
₹347.35
Asian Energy Services
7D
-5.7%
1Y
20.8%
DEEPINDS
₹453.80
Deep Industries
7D
-4.4%
1Y
-0.9%
New Narrative • May 17

Policy Support For Gas Infrastructure Will Drive Long Term Contract Opportunities

Catalysts About Deep Industries Deep Industries provides oil and gas services including onshore drilling, workover operations, gas processing and production enhancement contracts. What are the underlying business or industry changes driving this perspective?
COALINDIA
₹438.90
Coal India
7D
0.8%
1Y
13.6%
Analysis Article • May 05

Coal India's (NSE:COALINDIA) Problems Go Beyond Weak Profit

The market rallied behind Coal India Limited's ( NSE:COALINDIA ) stock, leading do a rise in the share price after its...
500110
₹1,133.25
Chennai Petroleum
7D
2.8%
1Y
59.1%