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Indian (NIFTY) Oil and Gas Refining and Marketing Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies14
  • 7D-0.4%
  • 3M-6.4%
  • 1Y20.8%
  • YTDn/a

Over the last 7 days, the Oil and Gas Refining and Marketing industry has dropped 2.6%, driven by Reliance Industries declining 2.7%. Over the past 12 months, the industry was up 19%. As for the next few years, earnings are expected to grow by 4.0% per annum.

Industry Valuation and Performance

Has the Indian Oil and Gas Refining and Marketing Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026₹24.6t₹28.4t₹1.6t19.4x15.1x0.9x
Mon, 19 Jan 2026₹25.0t₹28.1t₹1.5t19.3x17x0.9x
Wed, 17 Dec 2025₹26.2t₹27.9t₹1.5t24.4x18x0.9x
Fri, 14 Nov 2025₹26.0t₹27.9t₹1.5t21.4x17.9x0.9x
Sun, 12 Oct 2025₹23.7t₹27.5t₹1.3t21.8x18.9x0.9x
Tue, 09 Sep 2025₹23.2t₹27.5t₹1.3t17.7x18.5x0.8x
Thu, 07 Aug 2025₹22.2t₹27.6t₹1.1t15.9x19.4x0.8x
Sat, 05 Jul 2025₹24.3t₹27.5t₹1.0t24.6x23.5x0.9x
Mon, 02 Jun 2025₹22.6t₹27.5t₹1.0t25.9x21.9x0.8x
Wed, 30 Apr 2025₹22.2t₹27.7t₹1.0t23.3x22.1x0.8x
Fri, 28 Mar 2025₹20.2t₹27.4t₹1.0t17.5x20.1x0.7x
Sun, 23 Feb 2025₹19.4t₹27.4t₹1.0t21.5x19.2x0.7x
Tue, 21 Jan 2025₹20.7t₹27.5t₹1.1t25.4x19.7x0.8x
Thu, 19 Dec 2024₹20.3t₹27.4t₹1.0t25.9x19.4x0.7x
Sat, 16 Nov 2024₹20.4t₹27.4t₹1.0t18.9x19.5x0.7x
Mon, 14 Oct 2024₹23.6t₹27.4t₹1.3t12.6x17.6x0.9x
Wed, 11 Sep 2024₹25.1t₹27.4t₹1.3t14.2x18.8x0.9x
Fri, 09 Aug 2024₹24.8t₹27.4t₹1.3t13.1x18.5x0.9x
Sun, 07 Jul 2024₹26.4t₹27.2t₹1.6t11.8x16.5x1x
Tue, 04 Jun 2024₹25.7t₹27.2t₹1.6t10.4x16x0.9x
Thu, 02 May 2024₹24.8t₹27.1t₹1.6t12.1x15.1x0.9x
Sat, 30 Mar 2024₹23.7t₹26.9t₹1.7t8.8x13.9x0.9x
Mon, 26 Feb 2024₹24.1t₹26.9t₹1.7t9.9x14.2x0.9x
Wed, 24 Jan 2024₹20.9t₹27.0t₹1.6t6.9x13x0.8x
Fri, 22 Dec 2023₹19.8t₹26.9t₹1.6t5.8x12.6x0.7x
Sun, 19 Nov 2023₹18.0t₹26.9t₹1.6t5.5x11.4x0.7x
Tue, 17 Oct 2023₹17.6t₹27.5t₹1.2t16.2x14.7x0.6x
Thu, 14 Sep 2023₹18.2t₹27.5t₹1.2t12.2x15.3x0.7x
Sat, 12 Aug 2023₹18.9t₹27.5t₹1.2t11.9x15.8x0.7x
Mon, 10 Jul 2023₹19.6t₹28.2t₹778.7b19.5x25.2x0.7x
Wed, 07 Jun 2023₹18.3t₹28.2t₹778.7b18.1x23.5x0.6x
Fri, 05 May 2023₹18.0t₹27.7t₹683.3b18.7x26.4x0.7x
Sun, 02 Apr 2023₹17.1t₹27.6t₹663.2b17.4x25.8x0.6x
Tue, 28 Feb 2023₹17.2t₹27.6t₹663.2b17.2x26x0.6x
Price to Earnings Ratio

26x


Total Market Cap: ₹17.2tTotal Earnings: ₹663.2bTotal Revenue: ₹27.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Oil and Gas Refining and Marketing Industry Price to Earnings3Y Average 18.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Oil and Gas Refining and Marketing 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 15.0x which is lower than its 3-year average PE of 18.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.79x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Refining and Marketing industry have grown 35% 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 Comparison

How does Indian Oil and Gas Refining and Marketing compare with similar industries?

IN Market0.28%
Energy0.55%
Oil and Gas0.55%
Oil and Gas Refining and Marketing-0.44%
Oil and Gas Exploration and Production4.62%
Integrated Oil and Gas4.21%
Coal and Fuels3.30%
Oil and Gas Storage and Transportation1.32%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
500109 Mangalore Refinery and Petrochemicals₹191.102.9%
+₹9.6b		65.5%PE15.4x
500110 Chennai Petroleum₹882.550.5%
+₹603.1m		74.6%PE6.1x
GODAVARIB Godavari Biorefineries₹289.201.7%
+₹250.8m		72.4%PS0.7x
NEPTUNE Neptune Petrochemicals₹228.601.6%
+₹81.6m		n/aPE19.4x
532435 Sanmit Infra₹6.890.6%
+₹6.3m		-38.2%PE56.9x

Latest News

BPCL
₹366.30
Bharat Petroleum
7D
-2.1%
1Y
45.8%

BPCL: Richer P/E Will Eventually Struggle Against Softer Revenue And Margin Outlook

Narrative Update on Bharat Petroleum Analysts have revised their fair value estimate for Bharat Petroleum to ₹321.31 from ₹287.44, reflecting updated assumptions regarding slightly softer revenue contraction, lower profit margins, and a higher future P/E multiple. What's in the News Bharat Petroleum Corporation Limited declared a second interim dividend of ₹10 per equity share of face value ₹10, described as 100% of face value, for the financial year 2025-26, with payment scheduled through electronic mode on or before 21 February 2026 (Key Developments).
RELIANCE
₹1,419.40
Reliance Industries
7D
-0.01%
1Y
15.6%

RELIANCE: Deepwater Resource Sharing And Earnings Visibility Will Support Future Resilience

Analysts have adjusted their price target for Reliance Industries slightly lower to around ₹1,717. This reflects small tweaks to fair value, discount rate and assumptions for revenue growth, profit margin and future P/E in line with recent recalibrations seen across broader research coverage.
GODAVARIB
₹289.20
Godavari Biorefineries
7D
1.7%
1Y
72.4%
532435
₹6.89
Sanmit Infra
7D
0.6%
1Y
-38.2%
GULFPETRO
₹33.01
GP Petroleums
7D
-5.4%
1Y
-24.3%
IOC
₹173.79
Indian Oil
7D
-1.7%
1Y
43.2%
HINDPETRO
₹430.90
Hindustan Petroleum
7D
-4.3%
1Y
33.4%

HINDPETRO: Energy Transition Partnerships And LNG Platform Will Support Future Upside

Analysts have trimmed their price target for Hindustan Petroleum slightly to ₹683.63 from ₹686.66, reflecting updated views on discount rates, revenue growth assumptions, and future P/E expectations. What's in the News Indian Gas Exchange and Hindustan Petroleum signed an MoU at India Energy Week 2026 to create a digital, market driven platform for transparent booking of regasification services at HPCL's Chhara LNG Terminal, with HPCL offering storage and regasification capacity in predefined quantities and durations (Key Developments).
500109
₹191.10
Mangalore Refinery and Petrochemicals
7D
2.9%
1Y
65.5%

500109: Future Margins And Earnings Review Will Likely Expose Overvaluation

Analysts have raised their fair value estimate for Mangalore Refinery and Petrochemicals from ₹159 to ₹162, citing updated assumptions on revenue growth, profit margins and future P/E expectations. What's in the News Board meeting scheduled for Jan 14, 2026 to review standalone and consolidated unaudited financial results for the quarter ended Dec 31, 2025 (company filing).
TRUALT
₹409.40
TruAlt Bioenergy
7D
-2.5%
1Y
n/a
RAJPUTANA
₹226.00
Rajputana Biodiesel
7D
-3.1%
1Y
-18.2%

Is Rajputana Biodiesel (NSE:RAJPUTANA) Using Too Much Debt?

Feb 03
Is Rajputana Biodiesel (NSE:RAJPUTANA) Using Too Much Debt?
500110
₹882.55
Chennai Petroleum
7D
0.5%
1Y
74.6%
NEPTUNE
₹228.60
Neptune Petrochemicals
7D
1.6%
1Y
n/a
544163
₹90.40
Greenhitech Ventures
7D
-4.3%
1Y
-17.8%