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 Q1 FY25.
The top 20 at Q1 FY26
Q1 FY26 vs Q1 FY25: combined net profit ₹69,807 cr (+36%), median EPS −1% (8 of 18 up), market-cap-weighted price −7%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Reliance Industries Limited | 57.1% | 11.19 → 19.95 | +78% | +23.1 pp | −4% |
| 2 | O N G C | 8.6% | 7.90 → 7.79 | −1% | −0.3 pp | −11% |
| 3 | Coal India | 6.8% | 17.78 → 14.19 | −20% | −4.3 pp | −17% |
| 4 | I O C L | 5.8% | 2.50 → 4.83 | +93% | +6.4 pp | −11% |
| 5 | B P C L | 4.1% | 6.55 → 15.76 | +141% | +7.8 pp | +9% |
| 6 | GAIL (India) Limited | 3.5% | 4.84 → 3.60 | −26% | −1.6 pp | −13% |
| 7 | H P C L | 2.6% | 2.98 → 19.32 | +548% | +6.8 pp | +32% |
| 8 | Adani Total Gas Limited | 2.1% | 1.56 → 1.50 | −4% | 0.0 pp | −25% |
| 9 | Oil India | 2.0% | 11.59 → 11.66 | +1% | 0.0 pp | −10% |
| 10 | Petronet LNG Limited | 1.3% | 7.37 → 5.61 | −24% | −0.5 pp | −9% |
| 11 | GUJENERGY | 0.9% | — → 4.76 | sources disagree | — | −24% |
| 12 | Indraprastha Gas Limited | 0.9% | 3.44 → 3.06 | −11% | −0.1 pp | −14% |
| 13 | Aegis Logistics Limited | 0.8% | 3.75 → 3.74 | 0% | 0.0 pp | −11% |
| 14 | Aegis Vopak Terminals Limited | 0.8% | — → 0.43 | sources disagree | — | — |
| 15 | M R P L | 0.7% | 0.42 → −1.54 | to loss | −0.7 pp | −33% |
| 16 | Castrol India Limited | 0.6% | 2.35 → 2.47 | +5% | 0.0 pp | +11% |
| 17 | Guj.St.Petronet | 0.5% | 6.65 → 5.58 | −16% | −0.1 pp | +11% |
| 18 | Mahanagar Gas Limited | 0.4% | 28.81 → 32.83 | +14% | +0.1 pp | −7% |
| 19 | C P C L | 0.3% | 23.98 → −2.69 | to loss | −0.8 pp | −31% |
| 20 | Gulf Oil Lubricants India Limited | 0.2% | 17.89 → 19.60 | +10% | 0.0 pp | +4% |
| Sector earnings growth | 100% | +35.8 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 year on year, 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 | +27% | +9% | −2% | −5% | −5% | +7% | +2% | +78% | +10% | +1% | −13% | −22% |
| ONGC | +65% | −10% | +172% | −30% | −25% | −17% | −28% | −1% | +5% | +16% | +48% | +21% |
| COALINDIA | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | −20% | −31% | −16% | +13% | +1% |
| IOC | turned profitable | +1,062% | −50% | −76% | to loss | −77% | +58% | +93% | turned profitable | +514% | +78% | to loss |
| BPCL | turned profitable | +82% | −30% | −73% | −72% | +20% | −8% | +141% | +170% | +89% | +28% | to loss |
| GAIL | +88% | +671% | +291% | +77% | +10% | +28% | +1% | −26% | −27% | −57% | −40% | +97% |
| HINDPETRO | turned profitable | +60% | −25% | −91% | −98% | +257% | +26% | +548% | +2,607% | +58% | +78% | to loss |
| ATGL | +8% | +18% | +72% | +14% | +8% | −20% | −8% | −4% | −12% | +12% | +9% | −14% |
| OIL | −78% | +3% | +23% | +32% | +379% | −43% | −39% | +1% | −29% | −11% | +60% | +91% |
| PETRONET | +9% | +1% | +18% | +35% | +2% | −26% | +43% | −24% | −4% | −3% | +25% | +35% |
| GUJENERGY | −27% | −41% | +11% | +53% | +4% | 0% | −30% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| IGL | +30% | +42% | +9% | −8% | −18% | −31% | +5% | −11% | −15% | +20% | −25% | −44% |
| AEGISLOG | +36% | +4% | +39% | +14% | −1% | −5% | +43% | 0% | +43% | +42% | +46% | +269% |
| AEGISVOPAK | outside | outside | outside | outside | outside | outside | outside | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| MRPL | turned profitable | turned profitable | −40% | −93% | to loss | −21% | −68% | to loss | turned profitable | +370% | −68% | turned profitable |
| CASTROLIND | +4% | +26% | +7% | +3% | +7% | +12% | +8% | +5% | +10% | −10% | +4% | +43% |
| GSPL | +4% | +10% | +27% | +12% | −38% | −41% | −54% | −16% | −7% | +10% | — | outside |
| MGL | +106% | +84% | −1% | −23% | −16% | −29% | −5% | +14% | −32% | −10% | −48% | −40% |
| CHENNPETRO | +6,942% | +153% | −38% | −36% | to loss | −94% | −25% | to loss | turned profitable | +4,704% | +203% | turned profitable |
| GULFOILLUB | +41% | +29% | +37% | +28% | +14% | +21% | +7% | +10% | +3% | −21% | outside | outside |