3 Integrated Aluminium Producer, City Gas Distribution Company and Oil Refining and Marketing Company Stocks With a Strong Future Roadmap: National Aluminium Company, Indraprastha Gas and Bharat Petroleum
- November 4, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
National Aluminium Company, Indraprastha Gas and Bharat Petroleum: ROE of 13.5% to 26.8% and FY22 to FY26 revenue CAGR of 6.3% to 20.3%. Prices as of 3 Nov 2026.
Quick Answer
The three aluminium, city gas and refiner stocks to watch are National Aluminium Company, Indraprastha Gas and Bharat Petroleum. Their return on equity ranges from 13.5% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.3% to 20.3%. National Aluminium Company has the highest return on equity at 26.8%, while Indraprastha Gas has the fastest revenue growth at 20.3% a year. Prices are based on the 3 November 2026 close, and this article is educational, not investment advice.
Aluminium, city gas and refiner stocks let investors follow companies that serve a growing part of the Indian economy. National Aluminium Company, Indraprastha Gas and Bharat Petroleum cover an integrated aluminium producer, a city gas distribution company and an oil refining and marketing company.
This list covers three aluminium, city gas and refiner stocks with complete current figures: National Aluminium Company, Indraprastha Gas and Bharat Petroleum. Every figure comes from the latest reported financials and the 3 November 2026 market close. Companies without complete current figures were left out.
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What Are Aluminium, City Gas and Refiner Stocks?
Aluminium, city gas and refiner stocks are listed companies that mine bauxite and produce alumina and aluminium, supply piped and compressed natural gas in Delhi NCR and other regions, and refine crude oil and sell fuels. Their earnings depend on metal prices, gas volumes and fuel demand.
Aluminium, City Gas and Refiner Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| National Aluminium Company | 317.55 | 58,387 | 8.7 | 11.6 | 26.8 | 0.00 |
| Indraprastha Gas | 133.28 | 19,943 | 14.7 | 14.3 | 13.5 | 0.01 |
| Bharat Petroleum | 296.9 | 128,116 | 8.1 | 15.4 | 15.6 | 0.62 |
On valuation, National Aluminium Company and Bharat Petroleum trade at a P/E below the industry P/E, while Indraprastha Gas trades above it, which reflects the growth the market already expects. Readers comparing aluminium, city gas and refiner stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Aluminium, City Gas and Refiner Stocks Have a Strong Roadmap in India?
Aluminium, city gas and refiner stocks have a strong roadmap in India because lighter metal demand, wider cleaner fuel use and growing fuel consumption keep widening the market for these energy and metal companies.
- Light metal. Aluminium serves power and vehicles.
- Cleaner fuel. More vehicles and homes use gas.
- Fuel volumes. Retail fuel sales keep growing.
Why National Aluminium Company Features Among These Aluminium, City Gas and Refiner Stocks
Among the aluminium, city gas and refiner stocks on this list, National Aluminium Company, known as NALCO, is a public sector firm that mines bauxite, refines alumina and produces aluminium, with captive power generation in Odisha.
In the June 2026 quarter, revenue grew 39.3% year on year to Rs 5,476 crore, while net profit rose 90.9% to Rs 2,003 crore. Revenue rose from Rs 14,478 crore in FY22 to Rs 18,509 crore in FY26, a compound annual growth rate of 6.3%.
Net profit grew from Rs 2,951 crore in FY22 to Rs 5,797 crore in FY26, which works out to a compound annual growth rate of 18.4%. The company has a return on equity of 26.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 58,387 crore. The stock trades at a P/E of 8.7, below the industry P/E of 11.6.
Roadmap: The company is one of the lowest-cost integrated aluminium producers and plans to expand its mine, refinery and smelter capacity. A debt-free balance sheet and strong cash flows support these investments.
What to watch: Follow aluminium and alumina price trends and the pace of its expansion projects.
Why Indraprastha Gas Features Among These Aluminium, City Gas and Refiner Stocks
Among the energy and metal shares 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.
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.
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.
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 Bharat Petroleum Features Among These Aluminium, City Gas and Refiner Stocks
Among the three companies on this list, Bharat Petroleum Corporation is a public sector oil marketing and refining company that refines crude oil and sells petrol, diesel, cooking gas and lubricants through a nationwide network of fuel stations.
Revenue rose from Rs 349,060 crore in FY22 to Rs 458,527 crore in FY26, a compound annual growth rate of 7.1%. Net profit grew from Rs 11,682 crore in FY22 to Rs 25,843 crore in FY26, which works out to a compound annual growth rate of 22.0%.
The company has a return on equity of 15.6%, a debt to equity ratio of 0.62 and a market capitalisation of Rs 128,116 crore. The stock trades at a P/E of 8.1, below the industry P/E of 15.4.
Roadmap: The company is expanding its refining and petrochemical capacity and building a presence in gas, renewable energy and electric vehicle charging. A large retail fuel network gives it steady demand across the country.
What to watch: Follow refining margins, fuel demand and progress on new capacity.
National Aluminium Company vs Indraprastha Gas vs Bharat Petroleum on Key Financials
The table below sets the three aluminium, city gas and refiner 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 |
|---|---|---|---|---|---|
| National Aluminium Company | 14,478 | 18,509 | 6.3% | 5,797 | 31.3% |
| Indraprastha Gas | 7,887 | 16,541 | 20.3% | 1,544 | 9.3% |
| Bharat Petroleum | 349,060 | 458,527 | 7.1% | 25,843 | 5.6% |
National Aluminium Company posts the highest return on equity in this group at 26.8%. Bharat Petroleum has the largest FY26 revenue at Rs 458,527 crore, and Indraprastha Gas shows the fastest revenue growth with a 20.3% compound annual rate. A useful habit with aluminium, city gas and refiner stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Aluminium, City Gas and Refiner Stocks
Every theme carries risks that deserve a check before any decision. For these aluminium, city gas and refiner stocks, the main points are: Long-term energy and metal shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Gas prices and rules. Gas costs and regulated tariffs can influence earnings.
- Commodity prices. Selling prices follow global and domestic markets.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
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 aluminium, city gas and refiner stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Aluminium, City Gas and Refiner Stocks
Aluminium, city gas and refiner stocks reward investors who follow demand trends, order books and margins together. National Aluminium Company, Indraprastha Gas and Bharat Petroleum each have a clear plan to grow. Based on the 3 November 2026 close, National Aluminium Company trades at Rs 317.55, Indraprastha Gas at Rs 133.28 and Bharat Petroleum at Rs 296.9.
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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 aluminium, city gas and refiner stocks?
Ans. Aluminium, city gas and refiner stocks are listed companies that mine bauxite and produce alumina and aluminium, supply piped and compressed natural gas in Delhi NCR and other regions, and refine crude oil and sell fuels. Their earnings depend on metal prices, gas volumes and fuel demand. This list looks at three of them, National Aluminium Company, Indraprastha Gas and Bharat Petroleum, using reported FY22 to FY26 financials and the 3 November 2026 closing prices.
Which aluminium, city gas and refiner stocks are covered in this list?
Ans. This list covers National Aluminium Company, Indraprastha Gas and Bharat Petroleum. Based on the 3 November 2026 close, National Aluminium Company traded at Rs 317.55, Indraprastha Gas at Rs 133.28 and Bharat Petroleum at Rs 296.9. Their return on equity ranges from 13.5% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.3% to 20.3%.
Why do aluminium, city gas and refiner stocks have a strong future roadmap in India?
Ans. Aluminium, city gas and refiner stocks have a strong roadmap in India because lighter metal demand, wider cleaner fuel use and growing fuel consumption keep widening the market for these energy and metal companies. The main drivers are as follows. Light metal. Aluminium serves power and vehicles. Cleaner fuel. More vehicles and homes use gas. Fuel volumes. Retail fuel sales keep growing. Together these factors give the companies on this list a visible path for growth over the coming years.
How has National Aluminium Company performed financially?
Ans. Revenue rose from Rs 14,478 crore in FY22 to Rs 18,509 crore in FY26, a compound annual growth rate of 6.3%. Net profit grew from Rs 2,951 crore in FY22 to Rs 5,797 crore in FY26, which works out to a compound annual growth rate of 18.4%. In the June 2026 quarter, revenue grew 39.3% year on year to Rs 5,476 crore, while net profit rose 90.9% to Rs 2,003 crore. The company has a return on equity of 26.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 58,387 crore. The stock trades at a P/E of 8.7, below the industry P/E of 11.6. Looking ahead, the company is one of the lowest-cost integrated aluminium producers and plans to expand its mine, refinery and smelter capacity. A debt-free balance sheet and strong cash flows support these investments.
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 Bharat Petroleum performed financially?
Ans. Revenue rose from Rs 349,060 crore in FY22 to Rs 458,527 crore in FY26, a compound annual growth rate of 7.1%. Net profit grew from Rs 11,682 crore in FY22 to Rs 25,843 crore in FY26, which works out to a compound annual growth rate of 22.0%. The company has a return on equity of 15.6%, a debt to equity ratio of 0.62 and a market capitalisation of Rs 128,116 crore. The stock trades at a P/E of 8.1, below the industry P/E of 15.4. Looking ahead, the company is expanding its refining and petrochemical capacity and building a presence in gas, renewable energy and electric vehicle charging. A large retail fuel network gives it steady demand across the country.
What risks should investors check before buying aluminium, city gas and refiner stocks?
Ans. Investors should check a few risks before buying aluminium, city gas and refiner stocks. Gas prices and rules. Gas costs and regulated tariffs can influence earnings. Commodity prices. Selling prices follow global and domestic markets. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. 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 aluminium, city gas and refiner stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 3 November 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.
