3 Aluminium Producer, Largest Coal Producer and Largest Crude Oil and Gas Producer Stocks With a Strong Future Roadmap: National Aluminium Company, Coal India and Oil and Natural Gas Corporation
- October 23, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
National Aluminium Company, Coal India and Oil and Natural Gas Corporation: ROE of 11.1% to 26.8% and FY22 to FY26 revenue CAGR of 5.6% to 12.8%. Prices as of 22 Oct 2026.
Quick Answer
The three aluminium, coal and oil and gas PSU stocks to watch are National Aluminium Company, Coal India and Oil and Natural Gas Corporation. Their return on equity ranges from 11.1% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 12.8%. National Aluminium Company has the highest return on equity at 26.8%, while Coal India has the fastest revenue growth at 12.8% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
Aluminium, coal and oil and gas PSU stocks let investors follow state-run companies that supply India’s core resources. National Aluminium Company, Coal India and Oil and Natural Gas Corporation cover an aluminium producer, the largest coal producer and the largest crude oil and natural gas producer.
This list covers three aluminium, coal and oil and gas PSU stocks with complete current figures: National Aluminium Company, Coal India 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 Aluminium, Coal and Oil and Gas PSU Stocks?
Aluminium, coal and oil and gas PSU stocks are listed state-run companies that produce metals, coal and hydrocarbons. Their earnings depend on production volumes, realisations and project progress.
Aluminium, Coal and Oil and Gas PSU Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| National Aluminium Company | 310.9 | 58,387 | 8.7 | 11.6 | 26.8 | 0.00 |
| Coal India | 402.55 | 247,803 | 8.0 | 9.8 | 26.1 | 0.12 |
| Oil and Natural Gas Corporation | 225 | 282,679 | 6.3 | 7.2 | 11.1 | 0.47 |
On valuation, all three trade at a P/E below their industry P/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing aluminium, coal and oil and gas PSU stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in aluminium, coal and oil and gas PSU stocks can use the coming numbers to test whether growth is holding.
Why Do Aluminium, Coal and Oil and Gas PSU Stocks Have a Strong Roadmap in India?
Aluminium, coal and oil and gas PSU stocks have a strong roadmap in India because energy and metal demand keep rising and these companies are investing to raise domestic output.
- Energy demand. Power and fuel needs keep growing with the economy.
- Capacity expansion. New mines and fields raise output.
- Cash generation. Strong cash flows support dividends and investment.
Why National Aluminium Company Features Among These Aluminium, Coal and Oil and Gas PSU Stocks
Among the aluminium, coal and oil and gas PSU 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.
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.
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.
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 Coal India Features Among These Aluminium, Coal and Oil and Gas PSU Stocks
Among the resource sector PSU shares on this list, Coal India is the world’s largest coal producer by output and supplies the bulk of India’s coal through several subsidiaries. Its customers include power utilities and industrial users across the country.
Revenue rose from Rs 113,597 crore in FY22 to Rs 183,747 crore in FY26, a compound annual growth rate of 12.8%. Net profit grew from Rs 17,378 crore in FY22 to Rs 31,071 crore in FY26, which works out to a compound annual growth rate of 15.6%.
In the June 2026 quarter, revenue grew 8.4% year on year to Rs 48,295 crore, while net profit rose 0.7% to Rs 8,850 crore. The company has a return on equity of 26.1%, a debt to equity ratio of 0.12 and a market capitalisation of Rs 247,803 crore. The stock trades at a P/E of 8.0, below the industry P/E of 9.8.
Roadmap: The company is raising output with new and expanded mines and building first-mile connectivity to move coal faster. It is also investing in new areas such as solar power and coal gasification.
What to watch: Track production and offtake numbers, realisations and progress on new mines.
Why Oil and Natural Gas Corporation Features Among These Aluminium, Coal and Oil and Gas PSU 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.
In the June 2026 quarter, revenue grew 25.5% year on year to Rs 207,776 crore. 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%. 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.
National Aluminium Company vs Coal India vs Oil and Natural Gas Corporation on Key Financials
The table below sets the three aluminium, coal and oil and gas PSU 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% |
| Coal India | 113,597 | 183,747 | 12.8% | 31,071 | 16.9% |
| Oil and Natural Gas Corporation | 498,738 | 621,019 | 5.6% | 49,793 | 8.0% |
National Aluminium Company posts the highest return on equity in this group at 26.8%. Oil and Natural Gas Corporation has the largest FY26 revenue at Rs 621,019 crore, and Coal India shows the fastest revenue growth with a 12.8% compound annual rate. A useful habit with aluminium, coal and oil and gas PSU stocks is to check each new quarterly result against the capacity plans the company described earlier. Many investors spread money across several energy and metals PSU stocks instead of one name, which keeps a single result from deciding the outcome.
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 |
|---|---|---|---|
| National Aluminium Company | 3,930 | 5,476 | 39.3% |
| Coal India | 44,535 | 48,295 | 8.4% |
| Oil and Natural Gas Corporation | 165,589 | 207,776 | 25.5% |
Key Risks to Check Before Investing in Aluminium, Coal and Oil and Gas PSU Stocks
Every theme carries risks that deserve a check before any decision. For these aluminium, coal and oil and gas PSU stocks, the main points are: Long-term resource sector PSU 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. Pricing and allocation rules can change.
- Operating conditions. Weather and field issues can affect output.
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, coal and oil and gas PSU stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Aluminium, Coal and Oil and Gas PSU Stocks
Aluminium, coal and oil and gas PSU stocks reward investors who follow output, realisations and project progress together. National Aluminium Company, Coal India and Oil and Natural Gas Corporation each have a clear plan to raise production. Based on the 22 October 2026 close, National Aluminium Company trades at Rs 310.9, Coal India at Rs 402.55 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 aluminium, coal and oil and gas PSU 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 aluminium, coal and oil and gas PSU stocks?
Ans. Aluminium, coal and oil and gas PSU stocks are listed state-run companies that produce metals, coal and hydrocarbons. Their earnings depend on production volumes, realisations and project progress. This list looks at three of them, National Aluminium Company, Coal India and Oil and Natural Gas Corporation, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which aluminium, coal and oil and gas PSU stocks are covered in this list?
Ans. This list covers National Aluminium Company, Coal India and Oil and Natural Gas Corporation. Based on the 22 October 2026 close, National Aluminium Company traded at Rs 310.9, Coal India at Rs 402.55 and Oil and Natural Gas Corporation at Rs 225. Their return on equity ranges from 11.1% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 12.8%.
Why do aluminium, coal and oil and gas PSU stocks have a strong future roadmap in India?
Ans. Aluminium, coal and oil and gas PSU stocks have a strong roadmap in India because energy and metal demand keep rising and these companies are investing to raise domestic output. The main drivers are as follows. Energy demand. Power and fuel needs keep growing with the economy. Capacity expansion. New mines and fields raise output. Cash generation. Strong cash flows support dividends and investment. 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 Coal India performed financially?
Ans. Revenue rose from Rs 113,597 crore in FY22 to Rs 183,747 crore in FY26, a compound annual growth rate of 12.8%. Net profit grew from Rs 17,378 crore in FY22 to Rs 31,071 crore in FY26, which works out to a compound annual growth rate of 15.6%. In the June 2026 quarter, revenue grew 8.4% year on year to Rs 48,295 crore, while net profit rose 0.7% to Rs 8,850 crore. The company has a return on equity of 26.1%, a debt to equity ratio of 0.12 and a market capitalisation of Rs 247,803 crore. The stock trades at a P/E of 8.0, below the industry P/E of 9.8. Looking ahead, the company is raising output with new and expanded mines and building first-mile connectivity to move coal faster. It is also investing in new areas such as solar power and coal gasification.
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 aluminium, coal and oil and gas PSU stocks?
Ans. Investors should check a few risks before buying aluminium, coal and oil and gas PSU stocks. Commodity prices. Realisations follow global and domestic price trends. Policy decisions. Pricing and allocation rules can change. Operating conditions. Weather and field issues can affect output. 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, coal and oil and gas PSU 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.