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Indian (NIFTY) Gas Utilities Industry Analysis

UpdatedJul 29, 2026
DataAggregated Company Financials
Companies7
  • 7D-2.3%
  • 3M-2.8%
  • 1Y-10.2%
  • YTD-3.7%

Over the last 7 days, the Gas Utilities industry has dropped 2.4%, driven by a pullback from Adani Total Gas of 7.8%. Overall the industry is down 9.1% in 12 months. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 29 Jul 2026₹2.4t₹2.0t₹127.0b13.6x18.7x1.2x
Fri, 26 Jun 2026₹2.5t₹2.0t₹127.2b15x19.9x1.3x
Sun, 24 May 2026₹2.5t₹2.1t₹129.2b14.2x19.5x1.2x
Tue, 21 Apr 2026₹2.5t₹2.1t₹141.3b14.4x17.6x1.2x
Thu, 19 Mar 2026₹2.3t₹2.1t₹141.3b13.5x16.1x1.1x
Sat, 14 Feb 2026₹2.5t₹2.1t₹140.6b15.6x17.5x1.2x
Mon, 12 Jan 2026₹2.5t₹2.1t₹163.2b16.7x15.6x1.2x
Wed, 10 Dec 2025₹2.6t₹2.1t₹163.2b15.8x15.7x1.2x
Fri, 07 Nov 2025₹2.7t₹2.1t₹164.4b17.1x16.7x1.3x
Sun, 05 Oct 2025₹2.8t₹2.0t₹172.7b17.5x16.1x1.4x
Tue, 02 Sep 2025₹2.7t₹2.0t₹172.7b16.7x15.7x1.3x
Thu, 31 Jul 2025₹2.8t₹2.1t₹173.9b16.5x16.1x1.4x
Sat, 28 Jun 2025₹3.0t₹2.0t₹181.8b17.1x16.4x1.5x
Mon, 26 May 2025₹2.9t₹2.1t₹181.8b21.2x16.1x1.4x
Wed, 23 Apr 2025₹2.9t₹2.0t₹185.3b20.1x15.4x1.4x
Fri, 21 Mar 2025₹2.7t₹2.0t₹185.3b18.9x14.3x1.3x
Sun, 16 Feb 2025₹2.5t₹2.0t₹185.3b18.3x13.6x1.3x
Tue, 14 Jan 2025₹2.8t₹2.0t₹181.0b18.3x15.2x1.4x
Thu, 12 Dec 2024₹3.1t₹2.0t₹181.0b19.9x17.3x1.6x
Sat, 09 Nov 2024₹3.2t₹2.0t₹181.1b19.2x17.5x1.6x
Mon, 07 Oct 2024₹3.6t₹2.0t₹181.6b19.8x19.9x1.8x
Wed, 04 Sep 2024₹3.8t₹2.0t₹181.6b20x20.8x1.9x
Fri, 02 Aug 2024₹3.8t₹1.9t₹180.1b19.5x21.1x2x
Sun, 30 Jun 2024₹3.6t₹1.9t₹167.2b17.8x21.3x1.9x
Tue, 28 May 2024₹3.4t₹1.9t₹167.2b16.3x20.4x1.8x
Thu, 25 Apr 2024₹3.4t₹1.9t₹146.5b16.9x23.2x1.8x
Sat, 23 Mar 2024₹3.2t₹1.9t₹146.5b14.8x21.7x1.7x
Mon, 19 Feb 2024₹3.4t₹1.9t₹146.5b15.8x23.1x1.8x
Wed, 17 Jan 2024₹3.2t₹1.9t₹116.6b20.8x27.8x1.7x
Fri, 15 Dec 2023₹3.0t₹1.9t₹116.6b18.1x25.7x1.6x
Sun, 12 Nov 2023₹2.3t₹1.9t₹116.6b15.6x19.4x1.2x
Tue, 10 Oct 2023₹2.3t₹2.0t₹102.3b19.2x22.8x1.2x
Thu, 07 Sep 2023₹2.4t₹2.0t₹102.3b19.6x23.8x1.2x
Sat, 05 Aug 2023₹2.4t₹2.0t₹103.7b18.6x22.8x1.2x
Price to Earnings Ratio

22.8x


Total Market Cap: ₹2.4tTotal Earnings: ₹103.7bTotal Revenue: ₹2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Gas Utilities Industry Price to Earnings3Y Average 18.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Gas Utilities 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 18.8x.
  • The 3-year average PS ratio of 1.4x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 7.0% 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 Utilities industry?

IN Market-1.12%
Utilities-3.66%
Gas Utilities-2.32%
Gas Utilities-2.32%
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
GAIL GAIL (India)₹175.150.7%
+₹7.6b		-4.3%PE15.2x
GUJENERGY Gujarat Energy₹268.300.5%
+₹894.9m		-40.6%PE9.1x

Latest News

IRMENERGY
₹255.95
IRM Energy
7D
-1.8%
1Y
-11.8%
MGL
₹1,078.70
Mahanagar Gas
7D
-0.2%
1Y
-22.3%
GAIL
₹175.15
GAIL (India)
7D
0.7%
1Y
-4.3%
Narrative Update • Jul 24

GAIL: Higher Payout And New Projects May Not Justify Current Pricing

Analysts have raised their price target for GAIL (India) from ₹145.00 to about ₹148.03, citing updated assumptions around discount rates, revenue growth, profit margins, and a lower future P/E multiple. What's in the News GAIL (India) has scheduled a Board meeting on Jul 31, 2026 to consider and approve the unaudited financial results for the quarter ended Jun 30, 2026.
ATGL
₹645.55
Adani Total Gas
7D
-7.8%
1Y
2.6%
GUJENERGY
₹268.30
Gujarat Energy
7D
0.5%
1Y
-40.6%
Narrative Update • Jul 22

GUJENERGY: Dividend And Rebranding Will Shape Measured Repricing Outlook

The analyst price target for Gujarat Energy has been reduced from ₹350.00 to ₹280.02, with analysts pointing to updated fair value estimates that incorporate revised assumptions on revenue growth, profit margins, and future P/E expectations. What’s in the News for Gujarat Energy On May 14, 2026, Gujarat Gas Limited changed its name to Gujarat Energy Limited, reflecting a rebranding of the company.
IGL
₹150.70
Indraprastha Gas
7D
-1.9%
1Y
-26.8%
Narrative Update • Jun 30

IGL: Lower Margin Outlook Will Drive A Cautious Forward View

Analysts have revised their price target for Indraprastha Gas to ₹138.78 from ₹162.48, citing updated assumptions around higher projected revenue growth, a lower discount rate, a reduced future P/E multiple, and a slightly lower profit margin outlook. What’s in the News for Indraprastha Gas GAIL (India) Limited nominated Shri Kumar Shanker as Managing Director of Indraprastha Gas, taking charge from Shri Kamal Kishore Chatiwal with effect from June 5, 2026, according to the company’s executive changes announcement.
POSITRON
₹174.50
Positron Energy
7D
-3.6%
1Y
-43.6%