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Indian (NIFTY) Gas Utilities Industry Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies8
  • 7D0.4%
  • 3M-10.0%
  • 1Y-7.4%
  • YTD-11.6%

Last week, the Gas Utilities industry hasn't moved much but Adani Total Gas is up 17% in that time. As for the longer term, the industry has declined 7.4% in the last year. Earnings are forecast to grow by 8.0% annually.

Industry Valuation and Performance

Has the Indian Gas Utilities Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Mar 2026₹2.3t₹2.1t₹141.3b13.9x16.5x1.1x
Mon, 09 Feb 2026₹2.5t₹2.1t₹140.6b15.9x17.8x1.2x
Wed, 07 Jan 2026₹2.6t₹2.1t₹163.2b17.1x16x1.3x
Fri, 05 Dec 2025₹2.6t₹2.1t₹163.2b16.6x16.1x1.3x
Sun, 02 Nov 2025₹2.8t₹2.1t₹171.6b17.2x16.3x1.4x
Tue, 30 Sep 2025₹2.7t₹2.0t₹172.7b16.8x15.9x1.3x
Thu, 28 Aug 2025₹2.7t₹2.0t₹172.7b16.7x15.7x1.3x
Sat, 26 Jul 2025₹2.8t₹2.0t₹182.1b16.4x15.5x1.4x
Mon, 23 Jun 2025₹2.8t₹2.0t₹181.8b16.4x15.4x1.4x
Wed, 21 May 2025₹2.9t₹2.1t₹184.3b21.2x15.9x1.4x
Fri, 18 Apr 2025₹2.8t₹2.0t₹185.3b19.4x14.9x1.4x
Sun, 16 Mar 2025₹2.5t₹2.0t₹185.3b17.8x13.6x1.3x
Tue, 11 Feb 2025₹2.7t₹2.0t₹185.5b18x14.5x1.3x
Thu, 09 Jan 2025₹3.0t₹2.0t₹181.0b19.3x16.6x1.5x
Sat, 07 Dec 2024₹3.2t₹2.0t₹181.0b19.9x17.5x1.6x
Mon, 04 Nov 2024₹3.1t₹2.0t₹180.2b18.7x17.5x1.6x
Wed, 02 Oct 2024₹3.7t₹2.0t₹181.6b20.1x20.4x1.9x
Fri, 30 Aug 2024₹3.7t₹2.0t₹181.6b19.6x20.2x1.9x
Sun, 28 Jul 2024₹3.7t₹1.9t₹166.0b19.5x22.3x1.9x
Tue, 25 Jun 2024₹3.5t₹1.9t₹167.2b16.7x20.9x1.8x
Thu, 23 May 2024₹3.4t₹1.9t₹167.1b15.6x20.1x1.7x
Sat, 20 Apr 2024₹3.4t₹1.9t₹146.5b16.6x23.3x1.8x
Mon, 18 Mar 2024₹3.2t₹1.9t₹146.5b14.8x22x1.7x
Wed, 14 Feb 2024₹3.3t₹1.9t₹147.6b15.6x22.3x1.7x
Fri, 12 Jan 2024₹3.2t₹1.9t₹116.6b19.8x27.4x1.7x
Sun, 10 Dec 2023₹3.1t₹1.9t₹116.6b17.5x26.4x1.6x
Tue, 07 Nov 2023₹2.3t₹1.9t₹116.4b15.5x19.4x1.2x
Thu, 05 Oct 2023₹2.4t₹2.0t₹102.3b19.1x23.1x1.2x
Sat, 02 Sep 2023₹2.4t₹2.0t₹102.3b19.3x23.4x1.2x
Mon, 31 Jul 2023₹2.4t₹2.1t₹118.0b16.6x20.5x1.2x
Wed, 28 Jun 2023₹2.3t₹2.1t₹117.6b16.7x19.7x1.1x
Fri, 26 May 2023₹2.5t₹2.1t₹117.5b16.7x21.5x1.2x
Sun, 23 Apr 2023₹2.6t₹2.0t₹146.0b17.6x18x1.3x
Tue, 21 Mar 2023₹2.5t₹2.0t₹146.0b16.3x17.5x1.3x
Price to Earnings Ratio

17.5x


Total Market Cap: ₹2.5tTotal Earnings: ₹146.0bTotal Revenue: ₹2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Gas Utilities Industry Price to Earnings3Y Average 18.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Gas Utilities 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 16.5x which is lower than its 3-year average PE of 18.9x.
  • The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Gas Utilities industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

Which industries have driven the changes within the Indian Utilities industry?

IN Market-4.42%
Utilities2.17%
Gas Utilities0.40%
Gas Utilities0.40%
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
ATGL Adani Total Gas₹565.9017.2%
+₹91.6b		-6.4%PE96.9x

Latest News

GAIL
₹147.78
GAIL (India)
7D
-5.1%
1Y
-6.4%
MGL
₹1,035.00
Mahanagar Gas
7D
-1.4%
1Y
-19.5%
GUJGASLTD
₹374.30
Gujarat Gas
7D
-5.4%
1Y
-3.4%

GUJGASLTD: Leadership Transition Will Support Earnings Visibility And Future Repricing Potential

Analysts have nudged their implied fair value estimate for Gujarat Gas slightly higher to about ₹564 from about ₹561, reflecting marginally different assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Managing Director Shri Milind Torawane, IAS (DIN: 03632394), has resigned from the Gujarat Gas board following his transfer and appointment as Principal Secretary to Government, Education Department (Primary & Secondary Education).
IRMENERGY
₹211.43
IRM Energy
7D
-2.4%
1Y
-13.9%
IGL
₹156.51
Indraprastha Gas
7D
-0.5%
1Y
-15.3%

IGL: Biogas Expansion And Upcoming Dividend Will Support Long Term Upside

Analysts have adjusted their price target on Indraprastha Gas to ₹255 from ₹250, citing updated assumptions related to slightly higher revenue growth, a marginally different profit margin outlook and a modestly higher future P/E multiple. What's in the News Board meeting scheduled for February 12, 2026, to consider and approve unaudited financial results for the quarter ended December 31, 2025, share performance indicators with analysts and institutional investors, and consider an interim dividend of ₹3.25 per share at 162.5% on a face value of ₹2, with February 19, 2026 set as the record date (company event filing).
GSPL
₹271.60
Gujarat State Petronet
7D
-7.6%
1Y
-0.3%
ATGL
₹565.90
Adani Total Gas
7D
17.2%
1Y
-6.4%
POSITRON
₹139.05
Positron Energy
7D
-11.8%
1Y
-56.7%