3 City Gas Distributor, Gas Compression and Oilfield Services and Largest Crude Oil and Gas Producer Stocks With a Strong Future Roadmap: Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation
- October 23, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation: ROE of 11.1% to 19.4% and FY22 to FY26 revenue CAGR of 5.6% to 31.0%. Prices as of 22 Oct 2026.
Quick Answer
The three city gas, oilfield and gas producer stocks to watch are Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation. Their return on equity ranges from 11.1% to 19.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 31.0%. Deep Industries leads on both return on equity at 19.4% and revenue growth at 31.0% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
City gas, oilfield and gas producer stocks let investors follow companies across the natural gas chain. Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation cover a city gas distributor, a gas compression and oilfield services company and the largest crude oil and natural gas producer.
This list covers three city gas, oilfield and gas producer stocks with complete current figures: Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation. Every figure comes from the latest reported financials and the 22 October 2026 market close. Companies without complete current figures were left out.
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What Are City Gas, Oilfield and Gas Producer Stocks?
City gas, oilfield and gas producer stocks are listed companies that produce hydrocarbons, provide compression services and distribute gas to vehicles and homes. Their earnings depend on volumes, realisations and contract wins.
City Gas, Oilfield and Gas Producer Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Indraprastha Gas | 140.01 | 19,943 | 14.7 | 14.3 | 13.5 | 0.01 |
| Deep Industries | 695.75 | 4,618 | 20.6 | 7.2 | 19.4 | 0.10 |
| Oil and Natural Gas Corporation | 225 | 282,679 | 6.3 | 7.2 | 11.1 | 0.47 |
On valuation, Oil and Natural Gas Corporation trades at a P/E below the industry P/E, while Indraprastha Gas and Deep Industries trade above it, which reflects the growth the market already expects. Readers comparing city gas, oilfield and gas producer stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do City Gas, Oilfield and Gas Producer Stocks Have a Strong Roadmap in India?
City gas, oilfield and gas producer stocks have a strong roadmap in India because the push for cleaner fuel and higher domestic output keeps lifting demand for natural gas and related services.
- Cleaner fuel. Vehicles and homes switch to natural gas.
- Domestic output. New fields raise production.
- Service contracts. Long contracts give steady revenue.
Why Indraprastha Gas Features Among These City Gas, Oilfield and Gas Producer Stocks
Among the city gas, oilfield and gas producer stocks on this list, Indraprastha Gas distributes compressed natural gas to vehicles and piped natural gas to homes, businesses and industries in Delhi NCR and other licensed regions.
In the June 2026 quarter, revenue grew 16.5% year on year to Rs 5,145 crore. Revenue rose from Rs 7,887 crore in FY22 to Rs 16,541 crore in FY26, a compound annual growth rate of 20.3%.
Net profit for FY26 was Rs 1,544 crore, a net margin of 9.3%. The company has a return on equity of 13.5%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 19,943 crore. The stock trades at a P/E of 14.7, above the industry P/E of 14.3.
Roadmap: The company benefits from growing use of cleaner fuel in vehicles and homes and from new geographic areas it serves. A growing station network and household connections add to volumes.
What to watch: Track gas volumes, new station additions and input gas costs.
Why Deep Industries Features Among These City Gas, Oilfield and Gas Producer Stocks
Among the natural gas company shares on this list, Deep Industries provides natural gas compression, dehydration and oilfield services and also operates gas fields, serving oil and gas producers in India.
The company has a return on equity of 19.4%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 4,618 crore. The stock trades at a P/E of 20.6, above the industry P/E of 7.2.
Revenue rose from Rs 326 crore in FY22 to Rs 960 crore in FY26, a compound annual growth rate of 31.0%. Net profit grew from Rs 72.4 crore in FY22 to Rs 197 crore in FY26, which works out to a compound annual growth rate of 28.4%. In the June 2026 quarter, revenue grew 42.1% year on year to Rs 303 crore, while net profit rose 44.5% to Rs 89.1 crore.
Roadmap: The company is adding gas compression contracts and building its own gas production as demand for natural gas grows. Long-term service contracts give it steady visibility.
What to watch: Follow new contract wins, gas output and fleet utilisation.
Why Oil and Natural Gas Corporation Features Among These City Gas, Oilfield and Gas Producer Stocks
Among the three companies on this list, Oil and Natural Gas Corporation is India’s largest producer of crude oil and natural gas, with operations in domestic basins and overseas assets. It also has interests in refining, petrochemicals and gas through group companies.
Revenue rose from Rs 498,738 crore in FY22 to Rs 621,019 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 32,778 crore in FY23 to Rs 49,793 crore in FY26, which works out to a compound annual growth rate of 15.0%.
In the June 2026 quarter, revenue grew 25.5% year on year to Rs 207,776 crore. The company has a return on equity of 11.1%, a debt to equity ratio of 0.47 and a market capitalisation of Rs 282,679 crore. The stock trades at a P/E of 6.3, below the industry P/E of 7.2.
Roadmap: The company is investing in new wells, deepwater projects and field redevelopment to raise output, and it is entering new energy areas such as gas and renewables. Its large reserve base supports long-term production.
What to watch: Follow production volumes, new field start-ups and realisations.
Indraprastha Gas vs Deep Industries vs Oil and Natural Gas Corporation on Key Financials
The table below sets the three city gas, oilfield and gas producer stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Indraprastha Gas | 7,887 | 16,541 | 20.3% | 1,544 | 9.3% |
| Deep Industries | 326 | 960 | 31.0% | 197 | 20.5% |
| Oil and Natural Gas Corporation | 498,738 | 621,019 | 5.6% | 49,793 | 8.0% |
Deep Industries posts the highest return on equity in this group at 19.4%. Oil and Natural Gas Corporation has the largest FY26 revenue at Rs 621,019 crore, and Deep Industries shows the fastest revenue growth with a 31.0% compound annual rate. A useful habit with city gas, oilfield and gas producer stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Indraprastha Gas | 4,416 | 5,145 | 16.5% |
| Deep Industries | 213 | 303 | 42.1% |
| Oil and Natural Gas Corporation | 165,589 | 207,776 | 25.5% |
Key Risks to Check Before Investing in City Gas, Oilfield and Gas Producer Stocks
Every theme carries risks that deserve a check before any decision. For these city gas, oilfield and gas producer stocks, the main points are: Long-term natural gas company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Commodity prices. Realisations follow global and domestic price trends.
- Policy decisions. Gas pricing and allocation rules can change.
- Input costs. Gas purchase costs influence margins.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter city gas, oilfield and gas producer stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on City Gas, Oilfield and Gas Producer Stocks
City gas, oilfield and gas producer stocks reward investors who follow volumes, realisations and contract wins together. Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation each play a key part in the gas chain. Based on the 22 October 2026 close, Indraprastha Gas trades at Rs 140.01, Deep Industries at Rs 695.75 and Oil and Natural Gas Corporation at Rs 225. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these city gas, oilfield and gas producer stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are city gas, oilfield and gas producer stocks?
Ans. City gas, oilfield and gas producer stocks are listed companies that produce hydrocarbons, provide compression services and distribute gas to vehicles and homes. Their earnings depend on volumes, realisations and contract wins. This list looks at three of them, Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which city gas, oilfield and gas producer stocks are covered in this list?
Ans. This list covers Indraprastha Gas, Deep Industries and Oil and Natural Gas Corporation. Based on the 22 October 2026 close, Indraprastha Gas traded at Rs 140.01, Deep Industries at Rs 695.75 and Oil and Natural Gas Corporation at Rs 225. Their return on equity ranges from 11.1% to 19.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 31.0%.
Why do city gas, oilfield and gas producer stocks have a strong future roadmap in India?
Ans. City gas, oilfield and gas producer stocks have a strong roadmap in India because the push for cleaner fuel and higher domestic output keeps lifting demand for natural gas and related services. The main drivers are as follows. Cleaner fuel. Vehicles and homes switch to natural gas. Domestic output. New fields raise production. Service contracts. Long contracts give steady revenue. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Indraprastha Gas performed financially?
Ans. Revenue rose from Rs 7,887 crore in FY22 to Rs 16,541 crore in FY26, a compound annual growth rate of 20.3%. Net profit for FY26 was Rs 1,544 crore, a net margin of 9.3%. In the June 2026 quarter, revenue grew 16.5% year on year to Rs 5,145 crore. The company has a return on equity of 13.5%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 19,943 crore. The stock trades at a P/E of 14.7, above the industry P/E of 14.3. Looking ahead, the company benefits from growing use of cleaner fuel in vehicles and homes and from new geographic areas it serves. A growing station network and household connections add to volumes.
How has Deep Industries performed financially?
Ans. Revenue rose from Rs 326 crore in FY22 to Rs 960 crore in FY26, a compound annual growth rate of 31.0%. Net profit grew from Rs 72.4 crore in FY22 to Rs 197 crore in FY26, which works out to a compound annual growth rate of 28.4%. In the June 2026 quarter, revenue grew 42.1% year on year to Rs 303 crore, while net profit rose 44.5% to Rs 89.1 crore. The company has a return on equity of 19.4%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 4,618 crore. The stock trades at a P/E of 20.6, above the industry P/E of 7.2. Looking ahead, the company is adding gas compression contracts and building its own gas production as demand for natural gas grows. Long-term service contracts give it steady visibility.
How has Oil and Natural Gas Corporation performed financially?
Ans. Revenue rose from Rs 498,738 crore in FY22 to Rs 621,019 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 32,778 crore in FY23 to Rs 49,793 crore in FY26, which works out to a compound annual growth rate of 15.0%. In the June 2026 quarter, revenue grew 25.5% year on year to Rs 207,776 crore. The company has a return on equity of 11.1%, a debt to equity ratio of 0.47 and a market capitalisation of Rs 282,679 crore. The stock trades at a P/E of 6.3, below the industry P/E of 7.2. Looking ahead, the company is investing in new wells, deepwater projects and field redevelopment to raise output, and it is entering new energy areas such as gas and renewables. Its large reserve base supports long-term production.
What risks should investors check before buying city gas, oilfield and gas producer stocks?
Ans. Investors should check a few risks before buying city gas, oilfield and gas producer stocks. Commodity prices. Realisations follow global and domestic price trends. Policy decisions. Gas pricing and allocation rules can change. Input costs. Gas purchase costs influence margins. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of city gas, oilfield and gas producer stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 22 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.