3 Largest Oil Company, Public Sector Fuel Retailer and Liquid Gas and Chemical Terminal Operator Stocks With a Strong Future Roadmap: Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics
- October 26, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics: ROE of 14.8% to 27.5% and FY22 to FY26 revenue CAGR of 6.0% to 16.7%. Prices as of 23 Oct 2026.
Quick Answer
The three oil marketing, refining and LPG stocks to watch are Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics. Their return on equity ranges from 14.8% to 27.5%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.0% to 16.7%. Hindustan Petroleum Corporation has the highest return on equity at 27.5%, while Aegis Logistics has the fastest revenue growth at 16.7% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Oil marketing, refining and LPG stocks let investors follow companies that serve a growing part of the Indian economy. Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics cover the largest oil company, a public sector fuel retailer and a liquid gas and chemical terminal operator.
This list covers three oil marketing, refining and LPG stocks with complete current figures: Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Oil Marketing, Refining and LPG Stocks?
Oil marketing, refining and LPG stocks are listed energy companies that refine crude oil, sell fuels and store and distribute gases and liquid chemicals. Their earnings depend on refining margins, fuel demand, retail volumes and terminal usage.
Oil Marketing, Refining and LPG Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Indian Oil Corporation | 129.09 | 182,164 | 5.1 | 15.2 | 19.2 | 0.60 |
| Hindustan Petroleum Corporation | 338.3 | 73,793 | 44.2 | 15.4 | 27.5 | 0.85 |
| Aegis Logistics | 1,247.2 | 43,877 | 29.7 | 49.5 | 14.8 | 0.69 |
On valuation, Indian Oil Corporation and Aegis Logistics trade at a P/E below the industry P/E, while Hindustan Petroleum Corporation trades above it, which reflects the growth the market already expects. Readers comparing oil marketing, refining and LPG stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Oil Marketing, Refining and LPG Stocks Have a Strong Roadmap in India?
Oil marketing, refining and LPG stocks have a strong roadmap in India because fuel demand keeps rising with the economy, and refiners and terminal operators are investing in capacity, petrochemicals and cleaner fuels.
- Fuel demand. Vehicles and industry keep lifting consumption.
- Refinery upgrades. New capacity and petrochemicals widen earnings.
- Gas handling. Terminals and LPG distribution gain from cleaner fuel use.
Why Indian Oil Corporation Features Among These Oil Marketing, Refining and LPG Stocks
Among the oil marketing, refining and LPG stocks on this list, Indian Oil Corporation is India’s largest oil company, with refineries, a long pipeline network and a vast retail fuel outlet chain, and it also operates in petrochemicals, natural gas and renewable energy.
In the June 2026 quarter, revenue grew 27.0% year on year to Rs 282,379 crore. Revenue rose from Rs 592,418 crore in FY22 to Rs 788,578 crore in FY26, a compound annual growth rate of 7.4%.
Net profit grew from Rs 25,727 crore in FY22 to Rs 43,677 crore in FY26, which works out to a compound annual growth rate of 14.1%. The company has a return on equity of 19.2%, a debt to equity ratio of 0.60 and a market capitalisation of Rs 182,164 crore. The stock trades at a P/E of 5.1, below the industry P/E of 15.2.
Roadmap: The company is expanding refining and petrochemical capacity and investing in cleaner fuels, gas and green energy. Its scale and reach across the fuel supply chain support steady volumes.
What to watch: Follow refining margins, fuel demand and progress on petrochemical and green energy projects.
Why Hindustan Petroleum Corporation Features Among These Oil Marketing, Refining and LPG Stocks
Among the fuel retailer company shares on this list, Hindustan Petroleum Corporation is a public sector oil company that refines crude oil and sells petrol, diesel, cooking gas and lubricants through a large network of retail outlets and customer connections.
The company has a return on equity of 27.5%, a debt to equity ratio of 0.85 and a market capitalisation of Rs 73,793 crore. The stock trades at a P/E of 44.2, above the industry P/E of 15.4.
Revenue rose from Rs 352,352 crore in FY22 to Rs 444,027 crore in FY26, a compound annual growth rate of 6.0%. Net profit grew from Rs 7,294 crore in FY22 to Rs 18,047 crore in FY26, which works out to a compound annual growth rate of 25.4%. In the June 2026 quarter, revenue grew 20.8% year on year to Rs 145,844 crore.
Roadmap: The company is adding refining and petrochemical capacity, including a large new refinery project, which should widen its product mix. A growing retail network supports fuel sales as demand rises.
What to watch: Track refining margins, project progress and fuel marketing volumes.
Why Aegis Logistics Features Among These Oil Marketing, Refining and LPG Stocks
Among the three companies on this list, Aegis Logistics stores and handles liquid chemicals and gases at ports and also distributes liquefied petroleum gas to homes, industry and vehicles across India.
Revenue rose from Rs 4,670 crore in FY22 to Rs 8,660 crore in FY26, a compound annual growth rate of 16.7%. Net profit grew from Rs 385 crore in FY22 to Rs 1,107 crore in FY26, which works out to a compound annual growth rate of 30.2%.
In the June 2026 quarter, revenue grew 38.2% year on year to Rs 2,463 crore. The company has a return on equity of 14.8%, a debt to equity ratio of 0.69 and a market capitalisation of Rs 43,877 crore. The stock trades at a P/E of 29.7, below the industry P/E of 49.5.
Roadmap: The company is adding terminal capacity and growing its gas distribution network, which positions it for rising demand for cleaner fuels. Its port-linked storage assets are hard to replicate.
What to watch: Follow terminal capacity additions, gas volumes and new port projects.
Indian Oil Corporation vs Hindustan Petroleum Corporation vs Aegis Logistics on Key Financials
The table below sets the three oil marketing, refining and LPG 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 |
|---|---|---|---|---|---|
| Indian Oil Corporation | 592,418 | 788,578 | 7.4% | 43,677 | 5.5% |
| Hindustan Petroleum Corporation | 352,352 | 444,027 | 6.0% | 18,047 | 4.1% |
| Aegis Logistics | 4,670 | 8,660 | 16.7% | 1,107 | 12.8% |
Hindustan Petroleum Corporation posts the highest return on equity in this group at 27.5%. Indian Oil Corporation has the largest FY26 revenue at Rs 788,578 crore, and Aegis Logistics shows the fastest revenue growth with a 16.7% compound annual rate. A useful habit with oil marketing, refining and LPG 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 |
|---|---|---|---|
| Indian Oil Corporation | 222,432 | 282,379 | 27.0% |
| Hindustan Petroleum Corporation | 120,700 | 145,844 | 20.8% |
| Aegis Logistics | 1,782 | 2,463 | 38.2% |
Key Risks to Check Before Investing in Oil Marketing, Refining and LPG Stocks
Every theme carries risks that deserve a check before any decision. For these oil marketing, refining and LPG stocks, the main points are: Long-term fuel retailer company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Refining margins. Earnings move with global crude and product prices.
- Policy. Fuel pricing decisions can affect retailers.
- Project timing. New capacity can take years to deliver.
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 oil marketing, refining and LPG stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Oil Marketing, Refining and LPG Stocks
Oil marketing, refining and LPG stocks reward investors who follow demand trends, order books and margins together. Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics each play a central role in the fuel chain. Based on the 23 October 2026 close, Indian Oil Corporation trades at Rs 129.09, Hindustan Petroleum Corporation at Rs 338.3 and Aegis Logistics at Rs 1,247.2. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these oil marketing, refining and LPG 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 oil marketing, refining and LPG stocks?
Ans. Oil marketing, refining and LPG stocks are listed energy companies that refine crude oil, sell fuels and store and distribute gases and liquid chemicals. Their earnings depend on refining margins, fuel demand, retail volumes and terminal usage. This list looks at three of them, Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which oil marketing, refining and LPG stocks are covered in this list?
Ans. This list covers Indian Oil Corporation, Hindustan Petroleum Corporation and Aegis Logistics. Based on the 23 October 2026 close, Indian Oil Corporation traded at Rs 129.09, Hindustan Petroleum Corporation at Rs 338.3 and Aegis Logistics at Rs 1,247.2. Their return on equity ranges from 14.8% to 27.5%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.0% to 16.7%.
Why do oil marketing, refining and LPG stocks have a strong future roadmap in India?
Ans. Oil marketing, refining and LPG stocks have a strong roadmap in India because fuel demand keeps rising with the economy, and refiners and terminal operators are investing in capacity, petrochemicals and cleaner fuels. The main drivers are as follows. Fuel demand. Vehicles and industry keep lifting consumption. Refinery upgrades. New capacity and petrochemicals widen earnings. Gas handling. Terminals and LPG distribution gain from cleaner fuel use. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Indian Oil Corporation performed financially?
Ans. Revenue rose from Rs 592,418 crore in FY22 to Rs 788,578 crore in FY26, a compound annual growth rate of 7.4%. Net profit grew from Rs 25,727 crore in FY22 to Rs 43,677 crore in FY26, which works out to a compound annual growth rate of 14.1%. In the June 2026 quarter, revenue grew 27.0% year on year to Rs 282,379 crore. The company has a return on equity of 19.2%, a debt to equity ratio of 0.60 and a market capitalisation of Rs 182,164 crore. The stock trades at a P/E of 5.1, below the industry P/E of 15.2. Looking ahead, the company is expanding refining and petrochemical capacity and investing in cleaner fuels, gas and green energy. Its scale and reach across the fuel supply chain support steady volumes.
How has Hindustan Petroleum Corporation performed financially?
Ans. Revenue rose from Rs 352,352 crore in FY22 to Rs 444,027 crore in FY26, a compound annual growth rate of 6.0%. Net profit grew from Rs 7,294 crore in FY22 to Rs 18,047 crore in FY26, which works out to a compound annual growth rate of 25.4%. In the June 2026 quarter, revenue grew 20.8% year on year to Rs 145,844 crore. The company has a return on equity of 27.5%, a debt to equity ratio of 0.85 and a market capitalisation of Rs 73,793 crore. The stock trades at a P/E of 44.2, above the industry P/E of 15.4. Looking ahead, the company is adding refining and petrochemical capacity, including a large new refinery project, which should widen its product mix. A growing retail network supports fuel sales as demand rises.
How has Aegis Logistics performed financially?
Ans. Revenue rose from Rs 4,670 crore in FY22 to Rs 8,660 crore in FY26, a compound annual growth rate of 16.7%. Net profit grew from Rs 385 crore in FY22 to Rs 1,107 crore in FY26, which works out to a compound annual growth rate of 30.2%. In the June 2026 quarter, revenue grew 38.2% year on year to Rs 2,463 crore. The company has a return on equity of 14.8%, a debt to equity ratio of 0.69 and a market capitalisation of Rs 43,877 crore. The stock trades at a P/E of 29.7, below the industry P/E of 49.5. Looking ahead, the company is adding terminal capacity and growing its gas distribution network, which positions it for rising demand for cleaner fuels. Its port-linked storage assets are hard to replicate.
What risks should investors check before buying oil marketing, refining and LPG stocks?
Ans. Investors should check a few risks before buying oil marketing, refining and LPG stocks. Refining margins. Earnings move with global crude and product prices. Policy. Fuel pricing decisions can affect retailers. Project timing. New capacity can take years to deliver. 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 oil marketing, refining and LPG stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 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.
