What are Refineries Stocks?

These are equity shares of companies involved in converting crude oil into usable products such as gasoline, diesel, and petrochemicals. They include integrated energy firms and independent refiners, forming a critical link in India’s energy supply chain.

What is the future projection of Refineries Stocks?

India’s refining capacity is expected to grow from around 256 mn mt to roughly 300 mn mt by 2028. Meanwhile, petrochemicals demand is projected to expand from $220 bn to $300 bn by 2025. Disclaimer: This is only for educational purposes as the latest data is derived from major financial research reports.

How to choose Refineries Stocks for investing?

Focus on financials and capex capability. Compare export orientation and refining margin exposure. Check diversification into petrochemicals or energy transitions. Evaluate dividend track record and valuations.

Do Refineries Stocks offer regular dividends?

Many refinery PSUs like IOC and BPCL do offer dividends. You can use platforms like Tickertape Stock Screener to filter refinery stocks by dividend yield, dividend history, and payout ratios to identify consistent payers. Disclaimer: This is only for educational purposes as the latest data is derived from Tickertape Stock Screener.

What are the factors affecting Refineries Stocks prices?

Global crude price fluctuations and refining margins. Shifts in domestic and export demand. Capacity expansion news and project execution. Regulatory changes and sustainability norms. Inventory valuation impacts, as seen in IOC’s recent quarter. Disclaimer: This is only for educational purposes as the latest data is derived from major financial research reports.

List of Refinery Stocks in India (2025)

Q: How to invest in Refineries Stocks?

Here’s how you can invest in Refineries stocks - Go to the Tickertape Stock Screener Select the "Refineries" stocks. From the Refineries stocks, analyse and sort the Refineries stocks using over 200+ filters - including valuation ratios, financials, technical indicators, and more - based on your investment thesis. Review the filtered list, and identify stocks that best align with your risk appetite, return expectations, and investment goals. Once you've shortlisted the stocks, click ‘Place Order’ to invest in your preferred Refineries stocks. Disclaimer: Please do your own research or consult your financial advisor before investing.

Refinery stocks are linked to companies involved in processing crude oil into petroleum products like petrol, diesel, and aviation fuel. These stocks are influenced by global oil prices, refining margins, and energy demand trends.

Top Refineries Stocks in 2025

Refineries Stock Screener

Refineries Stock Screener: Analyse & Filter Indian Stocks on Tickertape

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Showing 1 - 8 of 8 results

last updated at 6:30 AM IST

	NameStocks (8)↓	↓Sub-SectorSub-Sector↓	↓Market CapMarket Cap↓	↓Close PriceClose Price↓	↓PE RatioPE Ratio↓	↓1D Return1D Return↓	↓1M Return1M Return↓	↓6M Return6M Return↓	↓1Y Return1Y Return↓	↓PB RatioPB Ratio↓	↓Return on EquityReturn on Equity↓	↓ROCEROCE↓	↓Dividend YieldDiv Yield↓	↓Debt to EquityDebt to Equity↓	↓Volatility vs NiftyVolatility vs Nifty↓
1.	Reliance Industries Ltd RELIANCE	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	20,82,376.8920,82,376.89	1,535.601,535.60	29.9029.90	-0.21-0.21	3.553.55	7.877.87	17.3217.32	2.062.06	7.207.20	8.718.71	0.360.36	0.370.37	1.571.57
2.	Indian Oil Corporation Ltd IOC	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	2,31,743.642,31,743.64	162.76162.76	17.0417.04	-0.82-0.82	-2.08-2.08	15.7015.70	16.3716.37	1.211.21	7.177.17	9.559.55	1.831.83	0.800.80	1.971.97
3.	Bharat Petroleum Corporation Ltd BPCL	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	1,55,492.041,55,492.04	356.00356.00	11.6611.66	-0.67-0.67	-3.46-3.46	14.2714.27	21.2321.23	1.911.91	16.9916.99	17.0517.05	2.752.75	0.750.75	2.032.03
4.	Hindustan Petroleum Corp Ltd HINDPETRO	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	95,900.9695,900.96	447.95447.95	14.2414.24	-0.61-0.61	-7.03-7.03	10.1710.17	15.5615.56	1.881.88	13.7413.74	12.5612.56	2.332.33	1.381.38	2.442.44
5.	Mangalore Refinery and Petrochemicals Ltd MRPL	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	27,938.1827,938.18	156.73156.73	497.12497.12	-1.68-1.68	-5.22-5.22	10.6110.61	-0.24-0.24	2.152.15	0.430.43	5.115.11	--	1.011.01	3.343.34
6.	Chennai Petroleum Corporation Ltd CHENNPETRO	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	14,021.5014,021.50	930.35930.35	65.4965.49	-1.19-1.19	-0.83-0.83	41.2841.28	43.9443.94	1.711.71	2.442.44	5.195.19	0.530.53	0.380.38	3.733.73
7.	Gandhar Oil Refinery (INDIA) Ltd GANDHAR	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	1,250.901,250.90	125.22125.22	15.6315.63	-2.02-2.02	-4.86-4.86	-30.43-30.43	-47.32-47.32	0.970.97	6.376.37	11.3011.30	0.390.39	0.240.24	2.512.51
8.	Rajputana Biodiesel Ltd RAJPUTANA	Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing	178.23178.23	250.05250.05	30.1630.16	-1.32-1.32	1.201.20	7.997.99	-8.17-8.17	4.254.25	20.8220.82	19.4319.43	--	0.330.33	4.554.55

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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Selection criteria: Refineries Stocks, based on publicly available information and is sorted by market cap.

What are Refinery Stocks?

Refinery stocks are shares of companies that process crude oil into products such as gasoline, diesel, and petrochemicals. These include both integrated energy conglomerates and pure-play refineries. They play a critical role in India’s energy infrastructure and are closely tied to domestic consumption trends, export capabilities, and economic growth.

Overview of the Top Refineries Stocks

Reliance Industries Ltd

Reliance Industries Ltd is India's largest conglomerate, with diversified interests in petrochemicals, refining, oil & gas exploration, retail, digital services (Jio), and green energy. It operates the world’s largest refining complex and is driving India's transition to a digital and sustainable economy through strategic investments in technology and renewables.

Indian Oil Corporation Ltd

Indian Oil Corporation Ltd is India’s largest state-owned oil and gas company, involved in refining, pipeline transportation, and marketing of petroleum products. It also produces petrochemicals and exports energy products globally. With a wide fuel retail network, it plays a critical role in India’s energy security and infrastructure.

Bharat Petroleum Corporation Ltd

Bharat Petroleum Corporation Ltd is a major Indian public sector oil and gas company engaged in refining, marketing, and distribution of petroleum products. With modern refineries and a strong retail presence, BPCL serves industrial, commercial, and household sectors while focusing on clean energy and digital transformation initiatives.

Hindustan Petroleum Corp Ltd

Hindustan Petroleum Corporation Ltd, a subsidiary of ONGC, is a leading Indian oil refining and marketing company. It operates key refineries in Mumbai and Visakhapatnam, supplying fuels, lubricants, and petrochemicals. HPCL emphasises customer-centric innovations, energy efficiency, and expanding into renewable and alternative energy solutions.

Mangalore Refinery and Petrochemicals Ltd

Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of ONGC, operates a complex refinery in Karnataka. It produces a wide range of petroleum products and petrochemicals for domestic and international markets. MRPL is known for its high-quality refining capabilities and focus on operational excellence and environmental compliance.

Market Size of Refinery Sector

India currently houses 23 refineries and is emerging as a global exporting hub - ranking as the fourth-largest exporter of middle distillates and the sixth-largest exporter of refinery products at approximately 1.2 mn barrels per day (mb/d) in 2023. Refining capacity is projected to expand notably - to around 300 mn metric tonnes by 2028.

How to Invest in Refineries Stocks?

Investing in refineries stocks using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in refineries stocks:

Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
Search for Refineries Stocks: Go to Tickertape Stock Screener and search for refineries stocks.
Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or dividend yield. You can create your own custom filter if your preferred parameters are not available. This can help you narrow down the top refineries stocks in India.
Analyse Stock Data: Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company’s health and potential in depth.
Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
Invest Through Your Broker: Once you’ve identified refineries stocks that align with your investment thesis, you can place a buy order through your brokerage account linked to Tickertape.

You can stay updated with each of your favourite stocks’ alerts and announcements with Tickertape Alerts. Further, you can analyse your overall portfolio and potential red flags in it by connecting it to Tickertape. Check out detailed analysis of your portfolio now!

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Advantages of Investing in Refineries Stocks

Exposure to Strong Demand Growth

India’s rising fuel consumption, along with growing vehicle ownership, industrial expansion, and aviation recovery, drives long-term demand for refined products.

Export Opportunities

India ranks among the top exporters of refined fuels, especially to Asia and Africa. Global market access cushions companies against fluctuations in domestic demand.

Integration with Petrochemicals

Many refiners have expanded into petrochemicals, gaining access to higher margins and tapping into growing demand. This move diversifies earnings beyond fuel sales.

Government Support

The Indian government actively backs refinery capacity expansion to reduce import dependency. This support creates a favorable policy environment for refiners.

Defensive Play in Energy Portfolio

Refinery stocks can act as a hedge in an energy portfolio, helping balance risk against upstream oil and gas companies.

Risks of Investing in Refineries Stocks

Cyclical Refining Margins

Profitability for refiners depends on the “crack spread” - the difference between crude oil and refined product prices. Global oversupply or weak demand can quickly cut into margins.

High Regulatory and ESG Pressure

As India shifts toward renewable energy and tightens emission norms, refiners face rising compliance costs and long-term transition risks.

Slow Project Execution

Despite ambitious refinery expansion plans, India’s refining capacity only increased by 5% over the last seven years, showing risks of delays and cost overruns.

Crude Oil Price Volatility

Refiners must manage inventory and input costs carefully because sharp oil price swings can lead to inventory losses and volatile quarterly earnings.

Capital-Intensive Sector

Refinery setup and upgrades demand billions in investment. Expansion plans that rely on high debt levels can strain company balance sheets if expected demand doesn’t materialise.

Factors to Consider Before Investing in Refineries Stocks

Export Dependency & Refining Margins

Check how much revenue comes from exports versus domestic sales. Export volumes boost revenue, but can also expose the company to global price swings.

Company Diversification & Integration

Integrated players like Reliance Industries combine refining and petrochemicals, leading to more stable margins and greater resilience against cyclical downturns.

Balance Sheet & Capex Plans

Scrutinise heavy investments in new capacity, such as BPCL’s $11bn South India refinery and petrochemical project, to assess financial strength and execution capability.

Regulation & ESG Factors

Environmental rules and India’s push for green energy may affect future refining operations. Review how companies plan to transition and evaluate their sustainability credentials.

Conclusion

Refinery stocks in India stand at an interesting crossroads - backed by strong demand fundamentals, export momentum, and policy encouragement, yet tempered by past capacity expansion delays and margin cyclicality. For investors, balancing exposure across integrated and pure refining sector stocks can utilise Tickertape Stock Screener to identify refinery stocks that aligns with their investment thesis.

Frequently Asked Questions on Refineries Stocks

What are Refineries Stocks?
These are equity shares of companies involved in converting crude oil into usable products such as gasoline, diesel, and petrochemicals. They include integrated energy firms and independent refiners, forming a critical link in India’s energy supply chain.
How to invest in Refineries Stocks?
Here’s how you can invest in Refineries stocks -
1. Go to the Tickertape Stock Screener
2. Select the "Refineries" stocks.
3. From the Refineries stocks, analyse and sort the Refineries stocks using over 200+ filters - including valuation ratios, financials, technical indicators, and more - based on your investment thesis.
4. Review the filtered list, and identify stocks that best align with your risk appetite, return expectations, and investment goals.
5. Once you've shortlisted the stocks, click ‘Place Order’ to invest in your preferred Refineries stocks.
Disclaimer: Please do your own research or consult your financial advisor before investing.
What is the future projection of Refineries Stocks?
India’s refining capacity is expected to grow from around 256 mn mt to roughly 300 mn mt by 2028. Meanwhile, petrochemicals demand is projected to expand from $220 bn to $300 bn by 2025.

Disclaimer: This is only for educational purposes as the latest data is derived from major financial research reports.
How to choose Refineries Stocks for investing?
1. Focus on financials and capex capability.
2. Compare export orientation and refining margin exposure.
3. Check diversification into petrochemicals or energy transitions.
4. Evaluate dividend track record and valuations.
Do Refineries Stocks offer regular dividends?
Many refinery PSUs like IOC and BPCL do offer dividends. You can use platforms like Tickertape Stock Screener to filter refinery stocks by dividend yield, dividend history, and payout ratios to identify consistent payers.

Disclaimer: This is only for educational purposes as the latest data is derived from Tickertape Stock Screener.
What are the factors affecting Refineries Stocks prices?
1. Global crude price fluctuations and refining margins.
2. Shifts in domestic and export demand.
3. Capacity expansion news and project execution.
4. Regulatory changes and sustainability norms.
5. Inventory valuation impacts, as seen in IOC’s recent quarter.
Disclaimer: This is only for educational purposes as the latest data is derived from major financial research reports.

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