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Indian (NIFTY) Gas Utilities Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies8
  • 7D-0.3%
  • 3M-18.5%
  • 1Y-21.7%
  • YTDn/a

Over the last 7 days, the Gas Utilities industry has dropped 1.6%, driven by Gujarat Gas declining 6.0%. Overall the industry is down 23% in 12 months. Looking forward, 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
Thu, 02 Apr 2026₹2.2t₹2.1t₹141.3b12.5x15.2x1x
Sat, 28 Feb 2026₹2.5t₹2.1t₹141.3b15.4x17.7x1.2x
Mon, 26 Jan 2026₹2.4t₹2.1t₹164.0b15.7x14.8x1.2x
Wed, 24 Dec 2025₹2.6t₹2.1t₹163.2b16.7x15.9x1.3x
Fri, 21 Nov 2025₹2.8t₹2.1t₹163.2b17.2x16.9x1.3x
Sun, 19 Oct 2025₹2.8t₹2.0t₹172.7b17.2x15.9x1.3x
Tue, 16 Sep 2025₹2.8t₹2.0t₹172.7b17.3x16x1.4x
Thu, 14 Aug 2025₹2.7t₹2.0t₹172.7b16.8x15.7x1.3x
Sat, 12 Jul 2025₹2.9t₹2.0t₹181.8b17.3x16.1x1.4x
Mon, 09 Jun 2025₹3.0t₹2.0t₹181.8b22.2x16.3x1.5x
Wed, 07 May 2025₹2.9t₹2.0t₹185.4b19.7x15.4x1.4x
Fri, 04 Apr 2025₹2.8t₹2.0t₹185.3b19.8x14.9x1.4x
Sun, 02 Mar 2025₹2.4t₹2.0t₹185.3b17.8x13.2x1.2x
Tue, 28 Jan 2025₹2.7t₹2.0t₹181.0b17.3x15x1.4x
Thu, 26 Dec 2024₹3.0t₹2.0t₹181.0b18.9x16.6x1.5x
Sat, 23 Nov 2024₹2.8t₹2.0t₹181.0b18x15.4x1.4x
Mon, 21 Oct 2024₹3.4t₹2.0t₹181.6b16.3x18.5x1.7x
Wed, 18 Sep 2024₹3.6t₹2.0t₹181.6b19.7x19.7x1.8x
Fri, 16 Aug 2024₹3.6t₹2.0t₹181.6b19.4x19.7x1.8x
Sun, 14 Jul 2024₹3.7t₹1.9t₹167.2b18.5x21.9x1.9x
Tue, 11 Jun 2024₹3.5t₹1.9t₹167.2b16.6x21.1x1.8x
Thu, 09 May 2024₹3.3t₹1.9t₹147.9b16.4x22.5x1.7x
Sat, 06 Apr 2024₹3.4t₹1.9t₹146.5b16.5x23.2x1.8x
Mon, 04 Mar 2024₹3.4t₹1.9t₹146.5b15.6x23.5x1.8x
Wed, 31 Jan 2024₹3.3t₹1.9t₹147.3b15.3x22.4x1.7x
Fri, 29 Dec 2023₹3.0t₹1.9t₹116.6b19.5x26x1.6x
Sun, 26 Nov 2023₹2.3t₹1.9t₹116.6b15.5x19.3x1.2x
Tue, 24 Oct 2023₹2.2t₹2.0t₹102.3b17.7x21.8x1.1x
Thu, 21 Sep 2023₹2.4t₹2.0t₹102.3b19.4x23.5x1.2x
Sat, 19 Aug 2023₹2.3t₹2.0t₹102.3b17.8x22.7x1.2x
Mon, 17 Jul 2023₹2.4t₹2.1t₹117.6b17.1x20x1.1x
Wed, 14 Jun 2023₹2.4t₹2.1t₹117.5b16.3x20.1x1.2x
Fri, 12 May 2023₹2.6t₹2.0t₹146.6b17x17.8x1.3x
Sun, 09 Apr 2023₹2.5t₹2.0t₹146.0b17.1x17.4x1.3x
Price to Earnings Ratio

17.4x


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 14.9x 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 1.0x.
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 Comparison

How does Indian Gas Utilities compare with similar industries?

IN Market-2.14%
Utilities-0.97%
Gas Utilities-0.30%
Gas Utilities-0.30%
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)₹141.731.8%
+₹16.6b		-22.8%PE10.8x
MGL Mahanagar Gas₹953.151.5%
+₹1.4b		-31.7%PE9.9x
IRMENERGY IRM Energy₹184.813.6%
+₹261.6m		-40.8%PE16.9x
GSPL Gujarat State Petronet₹238.570.1%
+₹180.5m		-20.0%PE12.8x
POSITRON Positron Energy₹131.5512.3%
+₹109.4m		-58.7%PE5.5x

Latest News

IGL
₹146.31
Indraprastha Gas
7D
-1.8%
1Y
-29.6%

IGL: Biogas Partnership And Interim Dividend Will Support Long Term Upside

Analysts have kept Indraprastha Gas's fair value estimate steady at ₹255, reflecting only minor tweaks to revenue growth, profit margin and future P/E assumptions in their refreshed model. 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 (Key Developments).
MGL
₹953.15
Mahanagar Gas
7D
1.5%
1Y
-31.7%

MGL: Upcoming Board Meeting And Interim Dividend May Support Earnings Resilience

Analysts have trimmed their price target for Mahanagar Gas from ₹1,834.66 to ₹1,731.05, citing updated assumptions around slightly lower profit margins and a revised profile for the long term growth rate and discount rate. What's in the News A board meeting is scheduled on February 7, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
POSITRON
₹131.55
Positron Energy
7D
12.3%
1Y
-58.7%
GUJGASLTD
₹308.10
Gujarat Gas
7D
-7.0%
1Y
-25.4%

GUJGASLTD: Leadership Transition And Steady Margins Will Support A Positive Outlook

Analysts now place Gujarat Gas's price target at approximately ₹435, slightly below the prior fair value of about ₹438. This reflects updates to revenue growth assumptions, a broadly similar profit margin outlook, and a marginally higher future P/E estimate.
GAIL
₹141.73
GAIL (India)
7D
1.8%
1Y
-22.8%

GAIL: Upcoming Green Projects Will Support Future Upside

Analysts have inched their price target on GAIL (India) slightly lower from about ₹195.87 to about ₹195.19, reflecting small tweaks to fair value inputs, revenue growth expectations, profit margin assumptions and future P/E estimates. What's in the News Appointment of Shri Deepak Gupta as Chairman and Managing Director from March 1, 2026, following his tenure as Director (Projects).
ATGL
₹520.05
Adani Total Gas
7D
-0.1%
1Y
-14.0%
IRMENERGY
₹184.81
IRM Energy
7D
3.6%
1Y
-40.8%
GSPL
₹238.57
Gujarat State Petronet
7D
0.1%
1Y
-20.0%