Indian (NIFTY) Energy Sector Analysis

Sector Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 18 May 2026	₹31.7t	₹38.0t	₹2.5t	21.1x	12.7x	0.8x
Wed, 15 Apr 2026	₹31.0t	₹37.3t	₹2.5t	20x	12.6x	0.8x
Fri, 13 Mar 2026	₹32.6t	₹37.3t	₹2.5t	18.6x	13.3x	0.9x
Sun, 08 Feb 2026	₹33.9t	₹37.3t	₹2.5t	21.2x	13.8x	0.9x
Tue, 06 Jan 2026	₹34.9t	₹36.8t	₹2.3t	23.6x	15.3x	0.9x
Thu, 04 Dec 2025	₹33.8t	₹36.8t	₹2.3t	25.1x	14.8x	0.9x
Sat, 01 Nov 2025	₹33.6t	₹36.8t	₹2.2t	21.7x	15x	0.9x
Mon, 29 Sep 2025	₹31.1t	₹36.4t	₹2.1t	22.8x	14.9x	0.9x
Wed, 27 Aug 2025	₹30.7t	₹36.4t	₹2.1t	20x	14.7x	0.8x
Fri, 25 Jul 2025	₹30.5t	₹36.6t	₹2.0t	20.5x	15.1x	0.8x
Sun, 22 Jun 2025	₹31.0t	₹36.5t	₹1.9t	20.2x	16.2x	0.8x
Tue, 20 May 2025	₹30.5t	₹35.9t	₹1.9t	18.3x	15.8x	0.8x
Thu, 17 Apr 2025	₹27.4t	₹35.9t	₹1.9t	20.2x	14.4x	0.8x
Sat, 15 Mar 2025	₹26.6t	₹35.9t	₹1.9t	19.5x	14x	0.7x
Mon, 10 Feb 2025	₹26.3t	₹31.4t	₹1.8t	20.7x	14.9x	0.8x
Wed, 08 Jan 2025	₹27.8t	₹35.9t	₹2.0t	21.9x	14x	0.8x
Fri, 06 Dec 2024	₹30.5t	₹35.9t	₹2.0t	23.9x	15.3x	0.8x
Sun, 03 Nov 2024	₹29.9t	₹36.3t	₹2.0t	23.9x	14.9x	0.8x
Tue, 01 Oct 2024	₹34.7t	₹36.4t	₹2.3t	26.6x	14.9x	1x
Thu, 29 Aug 2024	₹35.6t	₹36.4t	₹2.3t	26.3x	15.3x	1x
Sat, 27 Jul 2024	₹35.3t	₹36.3t	₹2.5t	26x	14x	1x
Mon, 24 Jun 2024	₹33.0t	₹36.0t	₹2.6t	22.4x	12.6x	0.9x
Wed, 22 May 2024	₹32.9t	₹36.0t	₹2.6t	25.4x	12.5x	0.9x
Fri, 19 Apr 2024	₹31.4t	₹35.3t	₹2.6t	18.2x	12.2x	0.9x
Sun, 17 Mar 2024	₹30.1t	₹35.3t	₹2.6t	15.9x	11.7x	0.9x
Tue, 13 Feb 2024	₹30.8t	₹35.3t	₹2.6t	16.3x	12.1x	0.9x
Thu, 11 Jan 2024	₹27.0t	₹35.3t	₹2.4t	15.1x	11.1x	0.8x
Sat, 09 Dec 2023	₹25.0t	₹35.3t	₹2.4t	13.1x	10.3x	0.7x
Mon, 06 Nov 2023	₹23.0t	₹35.6t	₹2.3t	13.6x	9.9x	0.6x
Wed, 04 Oct 2023	₹23.0t	₹36.2t	₹2.0t	13.8x	11.4x	0.6x
Fri, 01 Sep 2023	₹22.6t	₹36.2t	₹2.0t	13.4x	11.3x	0.6x
Sun, 30 Jul 2023	₹23.5t	₹36.9t	₹1.9t	12.9x	12.7x	0.6x
Tue, 27 Jun 2023	₹22.9t	₹37.6t	₹1.6t	13.3x	14.4x	0.6x
Thu, 25 May 2023	₹22.7t	₹37.7t	₹1.7t	12.9x	13.7x	0.6x

Current Industry PE

Investors are relatively neutral on the Indian Energy industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 13.6x.

The industry is trading close to its 3-year average PS ratio of 0.82x.

Past Earnings Growth

The earnings for companies in the Energy industry have grown 15% 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 Market	-2.79%
Energy	-4.01%
Energy Services	0.57%
Oil and Gas	-4.03%

Industry PE

Investors are most optimistic about the Energy Services industry even though it's trading below its 3-year average PE ratio of 23.9x.

Analysts expect its future annual earnings growth (34.5%) to be largely in line with prior year's earnings growth.

Investors are most pessimistic about the Oil and Gas industry, which is trading close to its 3-year average of 13.6x.

Forecasted Growth

Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 34% over the next 5 years.
This is roughly in line with its past earnings growth rate.

In contrast, the Oil and Gas industry is expected to see its earnings grow by 6.7% per year over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation
ONGC Oil and Natural Gas	₹297.20	5.8% +₹203.8b	20.5%	PE9.8x
OIL Oil India	₹506.05	11.0% +₹81.4b	19.6%	PE12.4x
500620 Great Eastern Shipping	₹1.70k	7.0% +₹15.9b	76.4%	PE8.2x
511034 Jindal Drilling & Industries	₹650.85	22.2% +₹3.4b	-5.0%	PE8x
ANTELOPUS Antelopus Selan Energy	₹779.60	13.8% +₹3.3b	n/a	PE30.6x

Company

Last Price

Valuation

ONGC Oil and Natural Gas

₹297.20

5.8%
+₹203.8b

20.5%

PE9.8x

OIL Oil India

₹506.05

11.0%
+₹81.4b

19.6%

PE12.4x

500620 Great Eastern Shipping

₹1.70k

7.0%
+₹15.9b

76.4%

PE8.2x

511034 Jindal Drilling & Industries

₹650.85

22.2%
+₹3.4b

-5.0%

PE8x

ANTELOPUS Antelopus Selan Energy

₹779.60

13.8%
+₹3.3b

n/a

PE30.6x

New minor risk - Dividend sustainability

The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.1% average weekly change). Market cap is less than US$100m (₹4.21b market cap, or US$44.4m).

Indian (NIFTY) Energy Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

New major risk - Revenue and earnings growth

Results: Hindustan Petroleum Corporation Limited Exceeded Expectations And The Consensus Has Updated Its Estimates

Full year 2026 earnings: EPS and revenues exceed analyst expectations

Asian Energy Services Limited to Report Q4, 2026 Results on May 19, 2026

Investor sentiment improves as stock rises 22%

Investors Shouldn't Be Too Comfortable With Antelopus Selan Energy's (NSE:ANTELOPUS) Earnings

Consensus revenue estimates fall by 15%

IOC: Higher P/E And Lower Margins Will Likely Cap Future Upside

Oil and Natural Gas Corporation Limited to Report Q4, 2026 Results on May 26, 2026

Bharat Petroleum Corporation Limited to Report Q4, 2026 Results on May 12, 2026

New major risk - Financial position

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

RELIANCE: Long Term Green Ammonia Offtake Is Expected To Support Earnings

New minor risk - Dividend sustainability

Investor sentiment improves as stock rises 22%

New minor risk - Financial position