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Indian (NIFTY) Energy Sector Analysis

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies49
  • 7D-1.4%
  • 3M8.4%
  • 1Y18.0%
  • YTD17.3%

The Energy is pretty flat in the last 7 days, but Gujarat Mineral Development has stood out, gaining 13%. The past year has been better, since the industry has gained 20% in that time. Earnings are forecast to grow by 7.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 31 Dec 2025₹33.9t₹36.8t₹2.3t23.9x14.9x0.9x
Fri, 28 Nov 2025₹34.3t₹36.8t₹2.3t25.5x15.1x0.9x
Sun, 26 Oct 2025₹32.6t₹36.6t₹2.1t22.1x15.4x0.9x
Tue, 23 Sep 2025₹31.4t₹36.4t₹2.1t21.1x15x0.9x
Thu, 21 Aug 2025₹31.4t₹36.4t₹2.1t19.5x15x0.9x
Sat, 19 Jul 2025₹31.5t₹36.5t₹1.9t20.3x16.5x0.9x
Mon, 16 Jun 2025₹30.5t₹36.5t₹1.9t19.3x16x0.8x
Wed, 14 May 2025₹29.8t₹35.9t₹1.9t18.1x15.4x0.8x
Fri, 11 Apr 2025₹26.1t₹35.9t₹1.9t18.5x13.7x0.7x
Sun, 09 Mar 2025₹26.8t₹35.9t₹1.9t19.9x14.1x0.7x
Tue, 04 Feb 2025₹25.8t₹31.4t₹1.8t20.6x14.5x0.8x
Thu, 02 Jan 2025₹27.4t₹35.9t₹2.0t21.4x13.7x0.8x
Sat, 30 Nov 2024₹28.8t₹35.9t₹2.0t22.2x14.5x0.8x
Mon, 28 Oct 2024₹29.7t₹36.4t₹2.1t22.6x13.8x0.8x
Wed, 25 Sep 2024₹34.5t₹36.4t₹2.3t28.6x14.9x0.9x
Fri, 23 Aug 2024₹35.5t₹36.4t₹2.3t24.8x15.3x1x
Sun, 21 Jul 2024₹35.3t₹36.0t₹2.6t24.4x13.5x1x
Tue, 18 Jun 2024₹33.6t₹36.0t₹2.6t22.3x12.8x0.9x
Thu, 16 May 2024₹32.2t₹35.6t₹2.6t23.3x12.6x0.9x
Sat, 13 Apr 2024₹31.5t₹35.3t₹2.6t16.2x12.3x0.9x
Mon, 11 Mar 2024₹31.9t₹35.3t₹2.6t16.1x12.4x0.9x
Wed, 07 Feb 2024₹31.1t₹35.3t₹2.6t17.6x12.1x0.9x
Fri, 05 Jan 2024₹26.7t₹35.3t₹2.4t13.8x10.9x0.8x
Sun, 03 Dec 2023₹24.3t₹35.3t₹2.4t13.1x10x0.7x
Tue, 31 Oct 2023₹22.8t₹36.0t₹2.1t15x10.6x0.6x
Thu, 28 Sep 2023₹23.0t₹36.2t₹2.0t13.3x11.5x0.6x
Sat, 26 Aug 2023₹23.1t₹36.2t₹2.0t12x11.5x0.6x
Mon, 24 Jul 2023₹23.7t₹37.4t₹1.6t13.5x15x0.6x
Wed, 21 Jun 2023₹23.4t₹37.6t₹1.6t13.1x14.7x0.6x
Fri, 19 May 2023₹22.6t₹38.1t₹1.6t12.2x14x0.6x
Sun, 16 Apr 2023₹21.7t₹36.4t₹1.5t12.4x14x0.6x
Tue, 14 Mar 2023₹21.1t₹36.4t₹1.5t12.8x13.6x0.6x
Thu, 09 Feb 2023₹21.1t₹36.1t₹1.5t16.9x13.7x0.6x
Sat, 07 Jan 2023₹22.6t₹34.9t₹1.6t15.7x14.4x0.6x
Price to Earnings Ratio

14.4x


Total Market Cap: ₹22.6tTotal Earnings: ₹1.6tTotal Revenue: ₹34.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Energy Sector Price to Earnings3Y Average 13.7x20242025
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 13.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.78x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have grown 13% 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-0.90%
Energy-1.43%
Energy Services-0.015%
Oil and Gas-1.44%
Industry PE
  • Investors are most optimistic about the Energy Services industry, which is trading close to its 3-year average PE ratio of 23.3x.
    • Analysts are expecting annual earnings growth of 58.2%, which is higher than its past year's earnings decline of 16.2% per year.
  • Investors are most pessimistic about the Oil and Gas industry, which is trading close to its 3-year average of 13.7x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 58% over the next 5 years.
  • This is better than its past earnings decline of 16% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 7.3% 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
GMDCLTD Gujarat Mineral Development₹595.7012.8%
+₹21.6b		85.1%PE18.9x
OIL Oil India₹411.450.3%
+₹2.0b		-4.5%PE11.2x
526807 Seamec₹1.07k3.5%
+₹906.4m		-10.6%PE30.9x
AEGISVOPAK Aegis Vopak Terminals₹249.500.3%
+₹831.0m		n/aPE152.9x
522261 Dolphin Offshore Enterprises (India)₹455.104.0%
+₹698.1m		-21.3%PE34.4x

Latest News

HINDPETRO
₹468.75
Hindustan Petroleum
7D
-1.3%
1Y
14.7%

We Think Hindustan Petroleum (NSE:HINDPETRO) Can Stay On Top Of Its Debt

Dec 31
We Think Hindustan Petroleum (NSE:HINDPETRO) Can Stay On Top Of Its Debt
500109
₹141.60
Mangalore Refinery and Petrochemicals
7D
-3.5%
1Y
-4.6%
GMDCLTD
₹595.70
Gujarat Mineral Development
7D
12.8%
1Y
85.1%
522261
₹455.10
Dolphin Offshore Enterprises (India)
7D
4.0%
1Y
-21.3%
AEGISLOG
₹703.70
Aegis Logistics
7D
-4.2%
1Y
-14.2%

There Are Reasons To Feel Uneasy About Aegis Logistics' (NSE:AEGISLOG) Returns On Capital

Dec 27
There Are Reasons To Feel Uneasy About Aegis Logistics' (NSE:AEGISLOG) Returns On Capital
PETRONET
₹279.75
Petronet LNG
7D
0.1%
1Y
-19.2%

PETRONET: Future Returns May Soften As New Ethane Infrastructure Limits Upside

Analysts have nudged their price target on Petronet LNG modestly higher to ₹245.00, reflecting slightly improved expectations for revenue resilience and stable profitability, while valuation assumptions remain largely unchanged. What's in the News Petronet LNG has signed a long term Ethane Unloading, Storage and Handling services term sheet with ONGC, anchoring capacity at its under construction third jetty in Dahej and marking a major move to expand beyond LNG into ethane and propane infrastructure, with operations expected to start in fiscal 2028 to 2029 (Key Developments).
IOC
₹161.57
Indian Oil
7D
-1.0%
1Y
18.4%

IOC: Higher Multiple And Dividend Move Are Expected To Prove Excessive

Analysts have raised their price target on Indian Oil by about 9 dollars per share. They cite a lower perceived risk profile and a greater willingness to pay a higher future earnings multiple, even as they trim assumptions for revenue growth and profit margins.
544498
₹60.00
Oval Projects Engineering
7D
15.4%
1Y
n/a
ONGC
₹234.68
Oil and Natural Gas
7D
-0.3%
1Y
-1.9%

ONGC: Future Cash Flows Will Support Long-Term Shareholder Upside

Analysts have modestly reduced their price target on Oil and Natural Gas to approximately $277 from about $279, reflecting slightly softer long term revenue growth and profit margin assumptions. They also note that the company remains well positioned in key end markets and benefits from ongoing secular demand trends.
RELIANCE
₹1,539.80
Reliance Industries
7D
-2.0%
1Y
26.7%

RELIANCE: AI Partnership And Diversified Platforms Will Support Future Earnings Resilience

Analysts have nudged their price target on Reliance Industries slightly higher, with fair value rising by about ₹4 per share to roughly ₹1,701. They cite sustained long term growth drivers and improved confidence in the company’s evolving business mix.
GODAVARIB
₹281.11
Godavari Biorefineries
7D
3.6%
1Y
-10.7%

Godavari Biorefineries (NSE:GODAVARIB) Could Be Struggling To Allocate Capital

Dec 16
Godavari Biorefineries (NSE:GODAVARIB) Could Be Struggling To Allocate Capital
OIL
₹411.45
Oil India
7D
0.3%
1Y
-4.5%

OIL: Future Upside Will Be Driven By Higher Gas Offtake Stability

Narrative Update on Oil India Analysts have modestly trimmed their price target on Oil India to ₹699.50 from ₹713.31, reflecting slightly weaker revenue growth assumptions, partially offset by improved profit margin expectations and a lower projected valuation multiple. What's in the News Board meeting scheduled on 4 December 2025 to consider promotions of senior executives to Executive Director level, signaling upcoming leadership changes and potential organizational strengthening (company filing).
COALINDIA
₹398.00
Coal India
7D
-0.6%
1Y
3.6%

Returns On Capital At Coal India (NSE:COALINDIA) Have Stalled

Dec 02
Returns On Capital At Coal India (NSE:COALINDIA) Have Stalled
AEGISVOPAK
₹249.50
Aegis Vopak Terminals
7D
0.3%
1Y
n/a

Here's Why Aegis Vopak Terminals (NSE:AEGISVOPAK) Can Manage Its Debt Responsibly

Dec 02
Here's Why Aegis Vopak Terminals (NSE:AEGISVOPAK) Can Manage Its Debt Responsibly
500110
₹797.60
Chennai Petroleum
7D
-7.5%
1Y
27.3%
526807
₹1,067.65
Seamec
7D
3.5%
1Y
-10.6%