Energy Crisis Alert: 4 Stocks to Watch if Energy Lockdown is Imposed

#2 Oil & Natural Gas Corporation

ONGC (Oil and Natural Gas Corporation) is the largest producer of crude oil and natural gas in India, contributing roughly 70% of India's total crude oil and 84% of its natural gas production

As a Maharatna PSU, ONGC is more than just an oil driller; it is a massive integrated group that includes major subsidiaries like HPCL (refining and marketing) and MRPL, and it has a significant international presence through ONGC Videsh (OVL).

ONGC has a roadmap called "Sankalp 50," which target 50 MMTOE (Million Metric Tonnes of Oil Equivalent) in annual production by FY29

To achieve this, the company is fast-tracking high-impact projects like the KG-DWN-98/2 deepwater block and the Daman Upside Development.

Looking further ahead, ONGC is transforming into a "Green Energy" leader. They plan to invest Rs 2,000,000 m to achieve Net Zero emissions by 2038.

This includes scaling up their renewable energy capacity from current levels to 10 GW by 2030 through wind, solar, and green hydrogen projects.

ONGC Financial Performance

For the first nine months of FY26, the company reported revenue of Rs 4,884,420 m and a net profit of Rs 361,150 m, with net margins around 7.4%.

Revenue stayed stable, supported by a slight increase in crude production and higher contribution from premium gas.

However, profitability came under pressure as the higher exploration costs and increased depletion from new fields added to the burden.

On the positive side, the removal of windfall tax and strong performance from refining subsidiaries helped offset some of the impact, keeping overall earnings relatively stable.

#3 GAIL (India) Ltd

GAIL (India) Ltd is essentially the powerhouse of India's natural gas sector. As a government-owned Maharatna company, it manages a massive network of over 18,000 km of pipelines that act as the country's energy highways.

The stock represents a business that doesn't just move gas; it also processes LPG, produces petrochemicals (plastics), and supplies fuel to homes and vehicles through City Gas Distribution (CGD).

The company plans to spend roughly 107,000 m this year on new projects, with a major focus on completing important pipelines like the Mumbai-Nagpur-Jharsuguda line. It's also commissioning new plants in Mangalore and Usar.

Looking further ahead, GAIL aims to spend Rs 350,000 m on "Net Zero" green energy projects over the next decade. By 2030, the plan is to nearly double their international gas sourcing to ensure India has a steady and affordable fuel supply.

GAIL (India) Financial Performance

For the first nine months of FY26, the company reported revenue of Rs 1,062,170 m, EBITDA of Rs 118,210 m, and a net profit of Rs 60,980 m.

Overall, the business is in a recovery phase. Revenue remained strong as demand for gas, especially from industries and CNG usage, continues to grow.

However, profitability saw some pressure due to losses in the petrochemical segment, mainly because of higher input costs and a weaker rupee.

On the positive side, the core gas transmission business remained strong, with volumes improving in the third quarter. This steady income helped the company manage challenges in the global gas market.

#4 Oil India Ltd

Oil India Limited (OIL) is a government-owned Maharatna company and a powerhouse in finding and producing crude oil and natural gas.

While most of its roots are in the Northeast, it is now expanding its footprint across India and even overseas in places like Russia and Mozambique

OIL is an integrated player, meaning it doesn't just find oil; it also transports it through a massive pipeline network and refines it through its subsidiary, Numaligarh Refinery Limited (NRL).

Recently, the company achieved a major milestone by recording its highest-ever hydrocarbon production of 6.71 m metric tons of oil equivalent (MMTOE).

For the growth plans, they are aiming to increase production to 4 million metric tons (MMT) of oil and 5 billion cubic meters (BCM) of gas annually in the coming years.

To achieve this, it's ramping up drilling to over 100 wells per year using advanced technologies like multilateral and radial drilling to get more oil out of older fields. The biggest growth engine, however, is the NRL expansion project, which will triple refining capacity from 3 MMT to 9 MMT.

Furthermore, they are going green with a target of 5.5 GW of renewable energy by 2040 and are the first oil PSU to explore critical minerals like lithium and graphite.

OIL India Financial Performance

For the first nine months of FY26, the company reported revenue of Rs 270,368 M, EBITDA of Rs 92,986 m, and a net profit of Rs 51,262 m. Profitability was affected by dry well write-offs.

On the positive side, strong performance from its refining business and steady income from overseas assets helped support the earnings, keeping the financials relatively balanced.

Conclusion

In times of uncertainty, especially during any lockdown-like situation, energy stocks can see sharp movements in a short period.

Prices can rise quickly due to supply concerns, but they can also correct just as fast with changes in global cues. That's why it becomes important to focus not just on momentum but also on business strength and stability.

So, tracking global trends, crude prices, and demand patterns becomes key. In such situations, staying informed and cautious matters more than trying to time short-term moves.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...