LPG/CNG/PNG/LNG Supplier industry
7 companies · ₹1.7 L cr · 7 with AI deep dives · Q1FY27 report
West Asia gas crisis bifurcates the sector: LNG trading plays post records; CGD distributors absorb cost spike
- Revenue YoY
- +8.6%
- EBITDA margin
- 14.6%
- +240bps YoY
- Price, 1 year
- +2.9%
- 57% of names up
- P/E vs own 5y
- -23.1%
- 15.2x now
Exhibit 1The quarter in numbers
constant panel of 7 companies above ₹500 cr- Jun 26
- 27,642 cr
- Mar 26
- 25,502 cr
- QoQ
- +8.4%
- Jun 25
- 25,450 cr
- YoY
- +8.6%
- Peak
- 27,642 cr
- vs peak
- 0.0%
- Jun 26
- 14.6%
- Mar 26
- 14.0%
- QoQ
- +60bps
- Jun 25
- 12.2%
- YoY
- +240bps
- Peak
- 14.6%
- vs peak
- 0bps
Breadth: 86% of 7 companies grew revenue year on year (was 86% a quarter earlier) and 43% expanded margin (was 29%).
Exhibit 2What it costs
12.88x - 18.18x across the panel todayThe median name trades at 15.2x, -23.1% against this industry's own 5-year median of 19.8x, and -54.1% against its own peak of 33.2x.
Exhibit 3Structure
₹1.7 L crAdani Total Gas Ltd is 39.8% of this industry by market cap. The top 5 are 97.7% and the top 10 are 100%.
Exhibit 4Screen
P/E below the sub-industry median of 15.23x, 5y ROCE above its median of 19.24%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (7 of 7)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹2,974 cr
- P/E
- 21.8x
- EV/EBITDA
- 9.2x
- ROCE
- 12.6%
- Margin
- 7.2%
- Rev YoY
- +116.6%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30Qatar FM is declared month-to-month through at least end-August 2026 (Petronet). The pooled gas mechanism was withdrawn then reinstated then lapsed again (MGL, ATGL). CGD…
- MGL (Q1FY27): “Pooled gas has been discontinued from around second week of July... after maybe 7, 8…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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