{"id":327018,"date":"2026-10-26T16:46:15","date_gmt":"2026-10-26T11:16:15","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=327018"},"modified":"2026-10-26T16:46:15","modified_gmt":"2026-10-26T11:16:15","slug":"largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/","title":{"rendered":"3 Largest Oil Refiner and Marketer, Engineering Consultancy Company and City Gas Distributor Stocks With a Strong Future Roadmap: Indian Oil Corporation, Engineers India and Adani Total Gas"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Indian Oil Corporation, Engineers India and Adani Total Gas: ROE of 12.4% to 22.0% and FY22 to FY26 revenue CAGR of 7.4% to 17.8%. Prices as of 23 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The three oil refiner, consultancy and city gas stocks to watch are Indian Oil Corporation, Engineers India and Adani Total Gas. Their return on equity ranges from 12.4% to 22.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.4% to 17.8%. Engineers India has the highest return on equity at 22.0%, while Adani Total Gas has the fastest revenue growth at 17.8% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Oil refiner, consultancy and city gas stocks let investors follow companies that serve a growing part of the Indian economy. Indian Oil Corporation, Engineers India and Adani Total Gas cover a largest oil refiner and marketer, an engineering consultancy company and a city gas distributor.<\/p>\n<p>This list covers three oil refiner, consultancy and city gas stocks with complete current figures: Indian Oil Corporation, Engineers India and Adani Total Gas. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#What_Are_Oil_Refiner_Consultancy_and_City_Gas_Stocks\" title=\"What Are Oil Refiner, Consultancy and City Gas Stocks?\">What Are Oil Refiner, Consultancy and City Gas Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Oil_Refiner_Consultancy_and_City_Gas_Stocks_at_a_Glance\" title=\"Oil Refiner, Consultancy and City Gas Stocks at a Glance\">Oil Refiner, Consultancy and City Gas Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Why_Do_Oil_Refiner_Consultancy_and_City_Gas_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Oil Refiner, Consultancy and City Gas Stocks Have a Strong Roadmap in India?\">Why Do Oil Refiner, Consultancy and City Gas Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Why_Indian_Oil_Corporation_Features_Among_These_Oil_Refiner_Consultancy_and_City_Gas_Stocks\" title=\"Why Indian Oil Corporation Features Among These Oil Refiner, Consultancy and City Gas Stocks\">Why Indian Oil Corporation Features Among These Oil Refiner, Consultancy and City Gas Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Why_Engineers_India_Features_Among_These_Oil_Refiner_Consultancy_and_City_Gas_Stocks\" title=\"Why Engineers India Features Among These Oil Refiner, Consultancy and City Gas Stocks\">Why Engineers India Features Among These Oil Refiner, Consultancy and City Gas Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Why_Adani_Total_Gas_Features_Among_These_Oil_Refiner_Consultancy_and_City_Gas_Stocks\" title=\"Why Adani Total Gas Features Among These Oil Refiner, Consultancy and City Gas Stocks\">Why Adani Total Gas Features Among These Oil Refiner, Consultancy and City Gas Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Indian_Oil_Corporation_vs_Engineers_India_vs_Adani_Total_Gas_on_Key_Financials\" title=\"Indian Oil Corporation vs Engineers India vs Adani Total Gas on Key Financials\">Indian Oil Corporation vs Engineers India vs Adani Total Gas on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Key_Risks_to_Check_Before_Investing_in_Oil_Refiner_Consultancy_and_City_Gas_Stocks\" title=\"Key Risks to Check Before Investing in Oil Refiner, Consultancy and City Gas Stocks\">Key Risks to Check Before Investing in Oil Refiner, Consultancy and City Gas Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Final_Thoughts_on_Oil_Refiner_Consultancy_and_City_Gas_Stocks\" title=\"Final Thoughts on Oil Refiner, Consultancy and City Gas Stocks\">Final Thoughts on Oil Refiner, Consultancy and City Gas Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#What_are_oil_refiner_consultancy_and_city_gas_stocks\" title=\"What are oil refiner, consultancy and city gas stocks?\">What are oil refiner, consultancy and city gas stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Which_oil_refiner_consultancy_and_city_gas_stocks_are_covered_in_this_list\" title=\"Which oil refiner, consultancy and city gas stocks are covered in this list?\">Which oil refiner, consultancy and city gas stocks are covered in this list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Why_do_oil_refiner_consultancy_and_city_gas_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do oil refiner, consultancy and city gas stocks have a strong future roadmap in India?\">Why do oil refiner, consultancy and city gas stocks have a strong future roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#How_has_Indian_Oil_Corporation_performed_financially\" title=\"How has Indian Oil Corporation performed financially?\">How has Indian Oil Corporation performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#How_has_Engineers_India_performed_financially\" title=\"How has Engineers India performed financially?\">How has Engineers India performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#How_has_Adani_Total_Gas_performed_financially\" title=\"How has Adani Total Gas performed financially?\">How has Adani Total Gas performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#What_risks_should_investors_check_before_buying_oil_refiner_consultancy_and_city_gas_stocks\" title=\"What risks should investors check before buying oil refiner, consultancy and city gas stocks?\">What risks should investors check before buying oil refiner, consultancy and city gas stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/largest-oil-refiner-and-marketer-engineering-consultancy-company-and-city-gas-distributor-stocks-roadmap-summit-list\/#Is_this_list_of_oil_refiner_consultancy_and_city_gas_stocks_investment_advice\" title=\"Is this list of oil refiner, consultancy and city gas stocks investment advice?\">Is this list of oil refiner, consultancy and city gas stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Oil_Refiner_Consultancy_and_City_Gas_Stocks\"><\/span><strong>What Are Oil Refiner, Consultancy and City Gas Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Oil refiner, consultancy and city gas stocks are listed energy companies that refine and sell fuels, design energy projects and deliver gas to vehicles and homes. Their earnings depend on fuel demand, project orders and gas volumes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Oil_Refiner_Consultancy_and_City_Gas_Stocks_at_a_Glance\"><\/span><strong>Oil Refiner, Consultancy and City Gas Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE (%)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">D\/E<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/ioc\/indian-oil-corporation-ltd-share-price-today\">Indian Oil Corporation<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">129.09<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">182,164<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.60<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/enginersin\/engineers-india-ltd-share-price-today\">Engineers India<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">242.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15,096<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.01<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/atgl\/adani-total-gas-ltd-share-price-today\">Adani Total Gas<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">529.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">58,229<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">90.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.8<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.47<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, Indian Oil Corporation and Engineers India trade at a P\/E below the industry P\/E, while Adani Total Gas trades above it, which reflects the growth the market already expects. Readers comparing oil refiner, consultancy and city gas stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Oil_Refiner_Consultancy_and_City_Gas_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Oil Refiner, Consultancy and City Gas Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Oil refiner, consultancy and city gas stocks have a strong roadmap in India because fuel demand keeps rising, refinery and gas projects need design partners, and cleaner gas use is spreading in cities.<\/p>\n<ul>\n<li><strong>Fuel demand.<\/strong> Vehicles and industry keep lifting consumption.<\/li>\n<li><strong>Project work.<\/strong> Refinery and gas upgrades need engineering partners.<\/li>\n<li><strong>Cleaner fuel.<\/strong> CNG and piped gas reach more users.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_Indian_Oil_Corporation_Features_Among_These_Oil_Refiner_Consultancy_and_City_Gas_Stocks\"><\/span><strong>Why Indian Oil Corporation Features Among These Oil Refiner, Consultancy and City Gas Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the oil refiner, consultancy and city gas stocks on this list, Indian Oil Corporation is India&#8217;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.<\/p>\n<p>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%.<\/p>\n<p>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.<\/p>\n<p><strong>Roadmap:<\/strong> 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.<\/p>\n<p><strong>What to watch:<\/strong> Follow refining margins, fuel demand and progress on petrochemical and green energy projects.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Engineers_India_Features_Among_These_Oil_Refiner_Consultancy_and_City_Gas_Stocks\"><\/span><strong>Why Engineers India Features Among These Oil Refiner, Consultancy and City Gas Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the public sector oil company shares on this list, Engineers India is a public sector engineering consultancy and project company that provides design, project management and construction services to oil, gas, petrochemical, fertiliser and infrastructure clients.<\/p>\n<p>The company has a return on equity of 22.0%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 15,096 crore. The stock trades at a P\/E of 19.2, below the industry P\/E of 22.7.<\/p>\n<p>Revenue rose from Rs 3,043 crore in FY22 to Rs 4,123 crore in FY26, a compound annual growth rate of 7.9%. Net profit grew from Rs 343 crore in FY22 to Rs 692 crore in FY26, which works out to a compound annual growth rate of 19.2%.<\/p>\n<p><strong>Roadmap:<\/strong> The company is involved in refinery expansions and new petrochemical projects and is widening its work in green energy, hydrogen and infrastructure. A debt-free balance sheet and a strong order book give it capacity to take on large mandates.<\/p>\n<p><strong>What to watch:<\/strong> Monitor order inflow from refinery and petrochemical projects and execution of existing mandates.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Adani_Total_Gas_Features_Among_These_Oil_Refiner_Consultancy_and_City_Gas_Stocks\"><\/span><strong>Why Adani Total Gas Features Among These Oil Refiner, Consultancy and City Gas Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Adani Total Gas is a city gas distribution company that supplies piped natural gas to homes, industries and commercial users and compressed natural gas to vehicles across many cities, and it also sets up electric vehicle charging points.<\/p>\n<p>Revenue rose from Rs 3,079 crore in FY22 to Rs 5,932 crore in FY26, a compound annual growth rate of 17.8%. Net profit grew from Rs 505 crore in FY22 to Rs 656 crore in FY26, which works out to a compound annual growth rate of 6.8%.<\/p>\n<p>The company has a return on equity of 12.4%, a debt to equity ratio of 0.47 and a market capitalisation of Rs 58,229 crore. The stock trades at a P\/E of 90.7, above the industry P\/E of 13.8.<\/p>\n<p><strong>Roadmap:<\/strong> The company is extending its pipeline network and CNG station base into the cities it has been awarded, which widens its customer base. Rising use of cleaner fuel in households and vehicles supports volume growth.<\/p>\n<p><strong>What to watch:<\/strong> Track new city additions, CNG volumes and progress in electric vehicle charging.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Indian_Oil_Corporation_vs_Engineers_India_vs_Adani_Total_Gas_on_Key_Financials\"><\/span><strong>Indian Oil Corporation vs Engineers India vs Adani Total Gas on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three oil refiner, consultancy and city gas stocks side by side on revenue, profit and margin, using reported figures.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY22 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Revenue CAGR (FY22-FY26)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Indian Oil Corporation<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">592,418<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">788,578<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.4%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43,677<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Engineers India<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,043<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,123<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">692<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Adani Total Gas<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,079<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,932<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">656<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Engineers India posts the highest return on equity in this group at 22.0%. Indian Oil Corporation has the largest FY26 revenue at Rs 788,578 crore, and Adani Total Gas shows the fastest revenue growth with a 17.8% compound annual rate. A useful habit with oil refiner, consultancy and city gas stocks is to check each new quarterly result against the capacity plans the company described earlier.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Oil_Refiner_Consultancy_and_City_Gas_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Oil Refiner, Consultancy and City Gas Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every theme carries risks that deserve a check before any decision. For these oil refiner, consultancy and city gas stocks, the main points are: Long-term public sector oil company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.<\/p>\n<ul>\n<li><strong>Refining margins.<\/strong> Earnings move with global crude and product prices.<\/li>\n<li><strong>Policy.<\/strong> Pricing decisions can affect retailers and distributors.<\/li>\n<li><strong>Valuation levels.<\/strong> Some of these companies trade at high earnings multiples, so growth must continue to justify them.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Use the Univest Stock Screener<\/a><\/strong> to filter oil refiner, consultancy and city gas stocks by market capitalisation, P\/E, ROE and growth, and build your own shortlist.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts_on_Oil_Refiner_Consultancy_and_City_Gas_Stocks\"><\/span><strong>Final Thoughts on Oil Refiner, Consultancy and City Gas Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Oil refiner, consultancy and city gas stocks reward investors who follow demand trends, order books and margins together. Indian Oil Corporation, Engineers India and Adani Total Gas each play a central role in the energy chain. Based on the 23 October 2026 close, Indian Oil Corporation trades at Rs 129.09, Engineers India at Rs 242.5 and Adani Total Gas at Rs 529.5. Valuation matters as much as growth, so compare each company&#8217;s P\/E with its industry P\/E before adding any of these oil refiner, consultancy and city gas stocks to a watchlist.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track oil refiner, consultancy and city gas stocks, set price alerts and get research-backed stock ideas.<\/em><\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"What_are_oil_refiner_consultancy_and_city_gas_stocks\"><\/span><strong>What are oil refiner, consultancy and city gas stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Oil refiner, consultancy and city gas stocks are listed energy companies that refine and sell fuels, design energy projects and deliver gas to vehicles and homes. Their earnings depend on fuel demand, project orders and gas volumes. This list looks at three of them, Indian Oil Corporation, Engineers India and Adani Total Gas, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_oil_refiner_consultancy_and_city_gas_stocks_are_covered_in_this_list\"><\/span><strong>Which oil refiner, consultancy and city gas stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers Indian Oil Corporation, Engineers India and Adani Total Gas. Based on the 23 October 2026 close, Indian Oil Corporation traded at Rs 129.09, Engineers India at Rs 242.5 and Adani Total Gas at Rs 529.5. Their return on equity ranges from 12.4% to 22.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.4% to 17.8%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_oil_refiner_consultancy_and_city_gas_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do oil refiner, consultancy and city gas stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Oil refiner, consultancy and city gas stocks have a strong roadmap in India because fuel demand keeps rising, refinery and gas projects need design partners, and cleaner gas use is spreading in cities. The main drivers are as follows. Fuel demand. Vehicles and industry keep lifting consumption. Project work. Refinery and gas upgrades need engineering partners. Cleaner fuel. CNG and piped gas reach more users. Together these factors give the companies on this list a visible path for growth over the coming years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Indian_Oil_Corporation_performed_financially\"><\/span><strong>How has Indian Oil Corporation performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> 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.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Engineers_India_performed_financially\"><\/span><strong>How has Engineers India performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 3,043 crore in FY22 to Rs 4,123 crore in FY26, a compound annual growth rate of 7.9%. Net profit grew from Rs 343 crore in FY22 to Rs 692 crore in FY26, which works out to a compound annual growth rate of 19.2%. The company has a return on equity of 22.0%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 15,096 crore. The stock trades at a P\/E of 19.2, below the industry P\/E of 22.7. Looking ahead, the company is involved in refinery expansions and new petrochemical projects and is widening its work in green energy, hydrogen and infrastructure. A debt-free balance sheet and a strong order book give it capacity to take on large mandates.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Adani_Total_Gas_performed_financially\"><\/span><strong>How has Adani Total Gas performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 3,079 crore in FY22 to Rs 5,932 crore in FY26, a compound annual growth rate of 17.8%. Net profit grew from Rs 505 crore in FY22 to Rs 656 crore in FY26, which works out to a compound annual growth rate of 6.8%. The company has a return on equity of 12.4%, a debt to equity ratio of 0.47 and a market capitalisation of Rs 58,229 crore. The stock trades at a P\/E of 90.7, above the industry P\/E of 13.8. Looking ahead, the company is extending its pipeline network and CNG station base into the cities it has been awarded, which widens its customer base. Rising use of cleaner fuel in households and vehicles supports volume growth.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_oil_refiner_consultancy_and_city_gas_stocks\"><\/span><strong>What risks should investors check before buying oil refiner, consultancy and city gas stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying oil refiner, consultancy and city gas stocks. Refining margins. Earnings move with global crude and product prices. Policy. Pricing decisions can affect retailers and distributors. 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.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_list_of_oil_refiner_consultancy_and_city_gas_stocks_investment_advice\"><\/span><strong>Is this list of oil refiner, consultancy and city gas stocks investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> 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.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are oil refiner, consultancy and city gas stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Oil refiner, consultancy and city gas stocks are listed energy companies that refine and sell fuels, design energy projects and deliver gas to vehicles and homes. Their earnings depend on fuel demand, project orders and gas volumes. This list looks at three of them, Indian Oil Corporation, Engineers India and Adani Total Gas, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which oil refiner, consultancy and city gas stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers Indian Oil Corporation, Engineers India and Adani Total Gas. Based on the 23 October 2026 close, Indian Oil Corporation traded at Rs 129.09, Engineers India at Rs 242.5 and Adani Total Gas at Rs 529.5. Their return on equity ranges from 12.4% to 22.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.4% to 17.8%.\"}},{\"@type\":\"Question\",\"name\":\"Why do oil refiner, consultancy and city gas stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Oil refiner, consultancy and city gas stocks have a strong roadmap in India because fuel demand keeps rising, refinery and gas projects need design partners, and cleaner gas use is spreading in cities. The main drivers are as follows. Fuel demand. Vehicles and industry keep lifting consumption. Project work. Refinery and gas upgrades need engineering partners. Cleaner fuel. CNG and piped gas reach more users. 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Its scale and reach across the fuel supply chain support steady volumes.\"}},{\"@type\":\"Question\",\"name\":\"How has Engineers India performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 3,043 crore in FY22 to Rs 4,123 crore in FY26, a compound annual growth rate of 7.9%. Net profit grew from Rs 343 crore in FY22 to Rs 692 crore in FY26, which works out to a compound annual growth rate of 19.2%. The company has a return on equity of 22.0%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 15,096 crore. The stock trades at a P\/E of 19.2, below the industry P\/E of 22.7. Looking ahead, the company is involved in refinery expansions and new petrochemical projects and is widening its work in green energy, hydrogen and infrastructure. 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Compare price, valuation, return on equity and revenue growth as of 23 October 2026.<\/p>\n","protected":false},"author":29,"featured_media":327017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[6178,3803,16177,16179,5971,7158,16176,16178],"class_list":["post-327018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-adani-total-gas","tag-best-stocks","tag-consultancy-and-city-gas-stocks","tag-engineering-consultant-and-gas-distributor-stocks","tag-engineers-india","tag-indian-oil-corporation","tag-oil-refiner","tag-public-sector-oil-company-shares"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["327017"],"rank_math_title":["Oil Refiner, Engineering Consultancy and City Gas Stocks"],"rank_math_description":["Compare 3 oil refiner, consultancy and city gas stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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