Oil Exploration & Production industry
7 companies · ₹4.0 L cr · 5 with AI deep dives · Q1FY27 report
Brent at ~$104/bbl lifts E&P realisations sector-wide; reservoir decline and gas pipeline gaps cap volumes
- Revenue YoY
- +26.8%
- EBITDA margin
- 9.8%
- -670bps YoY
- Price, 1 year
- +17.0%
- 67% of names up
- P/E vs own 5y
- +142.8%
- 30.2x now
Exhibit 1The quarter in numbers
constant panel of 5 companies above ₹500 cr- Jun 26
- 2.18 L cr
- Mar 26
- 1.84 L cr
- QoQ
- +18.7%
- Jun 25
- 1.72 L cr
- YoY
- +26.8%
- Peak
- 2.18 L cr
- vs peak
- 0.0%
- Jun 26
- 9.8%
- Mar 26
- 15.6%
- QoQ
- -580bps
- Jun 25
- 16.5%
- YoY
- -670bps
- Peak
- 17.2%
- vs peak
- -740bps
Breadth: 100% of 6 companies grew revenue year on year (was 83% a quarter earlier) and 67% expanded margin (was 83%).
Exhibit 2What it costs
9.51x - 77.28x across the panel todayThe median name trades at 30.2x, +142.8% against this industry's own 5-year median of 12.4x, and -2.8% against its own peak of 31.1x.
Exhibit 3Structure
₹4.0 L crOil & Natural Gas Corpn Ltd is 73.5% of this industry by market cap. The top 5 are 99% and the top 10 are 100%.
Exhibit 4Screen
P/E below the sub-industry median of 30.23x, 5y ROCE above its median of 11.52%, 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
- ₹2,389 cr
- P/E
- 92.2x
- EV/EBITDA
- 16.8x
- ROCE
- 1.8%
- Margin
- 31.4%
- Rev YoY
- +45.2%
- Mcap
- ₹1,526 cr
- P/E
- 76.0x
- EV/EBITDA
- 75.4x
- ROCE
- 10.6%
- Margin
- 73.7%
- Rev YoY
- +70.7%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30All three companies with substantive digests reported crude realisations within a narrow USD95-100/bbl band in Q1 FY27, a sharp uplift on prior year (OIL's prior-year comparable…
- OIL (Q1 FY27): “The standalone operating revenue of Q1 FY27 is INR7,958 crores, which is highest ever…”
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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