Sector analysis · India
Oil & Gas sector earnings growth, Q1 FY26
The 20 largest Oil, Gas & Consumable Fuels companies by market cap at the end of Q1 FY26 (30 Jun 2025), compared with Q4 FY25.
The top 20 at Q1 FY26
Q1 FY26 vs Q4 FY25: combined net profit ₹69,807 cr (+17%), median EPS +5% (10 of 18 up), market-cap-weighted price +13%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Reliance Industries Limited | 57.1% | 14.34 → 19.95 | +39% | +12.7 pp | +18% |
| 2 | O N G C | 8.6% | 5.82 → 7.79 | +34% | +4.2 pp | −1% |
| 3 | Coal India | 6.8% | 15.58 → 14.19 | −9% | −1.4 pp | −2% |
| 4 | I O C L | 5.8% | 5.75 → 4.83 | −16% | −2.2 pp | +15% |
| 5 | B P C L | 4.1% | 10.12 → 15.76 | +56% | +4.1 pp | +19% |
| 6 | GAIL (India) Limited | 3.5% | 3.79 → 3.60 | −5% | −0.2 pp | +4% |
| 7 | H P C L | 2.6% | 16.05 → 19.32 | +20% | +1.2 pp | +22% |
| 8 | Adani Total Gas Limited | 2.1% | 1.41 → 1.50 | +6% | 0.0 pp | +12% |
| 9 | Oil India | 2.0% | 8.05 → 11.66 | +45% | +1.0 pp | +12% |
| 10 | Petronet LNG Limited | 1.3% | 7.30 → 5.61 | −23% | −0.4 pp | +3% |
| 11 | GUJENERGY | 0.9% | — → 4.76 | sources disagree | — | +15% |
| 12 | Indraprastha Gas Limited | 0.9% | 3.25 → 3.06 | −6% | 0.0 pp | +7% |
| 13 | Aegis Logistics Limited | 0.8% | 8.02 → 3.74 | −53% | −0.3 pp | −4% |
| 14 | Aegis Vopak Terminals Limited | 0.8% | — → 0.43 | sources disagree | — | — |
| 15 | M R P L | 0.7% | 2.11 → −1.54 | to loss | −1.1 pp | +7% |
| 16 | Castrol India Limited | 0.6% | 2.36 → 2.47 | +5% | 0.0 pp | +9% |
| 17 | Guj.St.Petronet | 0.5% | 3.90 → 5.58 | +43% | +0.2 pp | +13% |
| 18 | Mahanagar Gas Limited | 0.4% | 25.53 → 32.83 | +29% | +0.1 pp | +7% |
| 19 | C P C L | 0.3% | 31.56 → −2.69 | to loss | −0.9 pp | +10% |
| 20 | Gulf Oil Lubricants India Limited | 0.2% | 18.58 → 19.60 | +5% | 0.0 pp | +10% |
| Sector earnings growth | 100% | +16.9 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q4 FY25, as market caps moved.
Joined the top 20 since Q4 FY25
Left the top 20 since Q4 FY25
- Deep Industries Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RELIANCE | +9% | −1% | +10% | −20% | +9% | +12% | +5% | +39% | −33% | +3% | −9% | +23% |
| ONGC | −3% | −25% | −2% | −2% | +3% | −16% | −15% | +34% | +10% | −7% | +8% | +10% |
| COALINDIA | sources disagree | sources disagree | sources disagree | sources disagree | −43% | +35% | +13% | −9% | −50% | +64% | +52% | −18% |
| IOC | −9% | −31% | −43% | −32% | to loss | turned profitable | +283% | −16% | +15% | +66% | +11% | to loss |
| BPCL | −23% | −61% | +51% | −41% | −19% | +66% | +15% | +56% | −9% | +16% | −22% | to loss |
| GAIL | +36% | +31% | −23% | +29% | −15% | +51% | −39% | −5% | −17% | −12% | −15% | +214% |
| HINDPETRO | −14% | −88% | +280% | −77% | −78% | +1,684% | +34% | +20% | −6% | +4% | +51% | to loss |
| ATGL | +15% | +3% | −5% | +2% | +8% | −24% | +9% | +6% | −1% | −3% | +6% | −16% |
| OIL | −70% | +457% | −9% | −12% | +7% | −34% | −2% | +45% | −25% | −16% | +76% | +73% |
| PETRONET | +4% | +42% | −37% | +45% | −21% | +4% | +21% | −23% | −1% | +5% | +58% | −17% |
| GUJENERGY | +37% | −25% | +86% | −19% | −7% | −28% | +30% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| IGL | +6% | −14% | −9% | +11% | −6% | −28% | +39% | −6% | −10% | +1% | −13% | −30% |
| AEGISLOG | +10% | +2% | +51% | −33% | −4% | −1% | +127% | −53% | +37% | −2% | +132% | +18% |
| AEGISVOPAK | outside | outside | outside | outside | outside | outside | outside | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| MRPL | +4% | −63% | +190% | −94% | to loss | turned profitable | +20% | to loss | turned profitable | +131% | −92% | +706% |
| CASTROLIND | −14% | +24% | −11% | +7% | −11% | +30% | −14% | +5% | −7% | +7% | −1% | +44% |
| GSPL | +36% | −13% | +20% | −21% | −25% | −17% | −6% | +43% | −17% | −2% | — | outside |
| MGL | −8% | −6% | −16% | +7% | −1% | −20% | +12% | +29% | −40% | +4% | −35% | +47% |
| CHENNPETRO | +115% | −69% | +72% | −43% | to loss | turned profitable | +2,154% | to loss | turned profitable | +39% | +42% | −27% |
| GULFOILLUB | +8% | +10% | +6% | +3% | −4% | +16% | −7% | +5% | −10% | −12% | outside | outside |