Company lists
The Maharashtra edition · 2026

Oil & Gas Downstreamcompanies in Maharashtra

Fuel distribution, oils & lubricants, LPG & gas, petrochemicals, clean fuels and more: the companies building oil & gas downstream in Maharashtra, with their founders, funding, team size and business models.

53 company profiles21 with reported revenue0 with recorded fundingOctober 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent oil & gas downstream business events in India

Funding, M&A, contract wins and launches involving 245 oil & gas downstream companies in India, last 24 months: 71 Contracts · 15 M&A deals · 4 funding rounds · 2 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

ContractService

BigTrunk Communications · client: Velvex

BigTrunk Communications has added another marquee account to its roster, securing the national digital and social media mandate for Velvex, the lubricant brand owned by Nandan Petrochem…

Advertising
ContractService

BigTrunk Communications · client: Nandan Petrochem

BigTrunk Communications, an independent integrated advertising agency known for its data-driven and creative approach, has secured the national digital and social media mandate for…

Advertising
M&AAcquisition · Pending

Dalmia Bharat Refractories acquires Dalmia

The company is also in talks to acquire Dalmia Magnesite Corporation, pending regulatory approval.

Refractory Industry
ContractService

Curativity Brand Solutions · client: Gulf oil lubricants india

Creative agency Curativity Brand Solutions has been appointed as the creative agency partner for Gulf Oil Lubricants India Ltd (GOLIL).

Lubricants
ContractTechnology

Oil Green Energy Ltd (OGEL) · client: Numaligarh refinery

Oil Green Energy Ltd (OGEL), a wholly owned subsidiary of Oil India Limited, has entered a Memorandum of Understanding (MoU) with Numaligarh Refinery Limited (NRL), for collaboration in…

Renewable Energy
ContractSupply

HPCL Rajasthan Refinery · client: Downstream Industries

Tripartite Agreement to Ensure Feedstock Supply The proposed agreement will bring together HPCL Rajasthan Refinery Limited (HRRL), the state government, and downstream industries.

Petrochemical
LaunchBS VI-ready lubricants

Castrol india

Castrol India today launched its BS VI-compliant range of lubricants across categories.

Automotive/industrial lubricants
M&AAcquisition · Completed

Confidence Petroleum India acquires BW Confidence Enterprise Private Limited

Confidence Petroleum India Limited has successfully completed the acquisition of BW Confidence Enterprise Private Limited, converting it into a wholly owned subsidiary through a…

Petroleum gases
ContractSupply

NeuEN Green Energy Pvt. Ltd · client: Numaligarh refinery

NeuEN Green Energy Pvt. Ltd, a 50:50 joint venture between Bharat Petroleum Corporation Limited and Sembcorp Green Hydrogen India Private Ltd, secured a contract to supply 10,000 tonnes…

Energy
ContractSupply

Gail gas · client: Industrial units

The company has activated the ‘Force Major Clause’ (Force Majeure Clause) of Natural Gas Contract (Contract) made with industrial units

ContractSupply

Petronet lng · client: GAIL (India) Limited

Petronet LNG issued a force majeure notice on March 3, 2026, under their Gas Sale and Purchase Agreement.

Energy
ContractSupply

GAIL Ltd. · client: Sabarmati gas

Sabarmati Gas is restricting supply to 50% of the daily contracted quantity from March 6, 2026.

ContractSupply

Ultra Gas & Energy · client: Beralia Roadlines Pvt Ltd (Jet Roadways)

Mumbai : Beralia Roadlines Pvt Ltd (Jet Roadways) today announced the signing of a long-term LNG supply agreement with Ultra Gas & Energy Limited (UGEL), as it continues to expand its…

Freight
M&AAcquisition · Completed

Gandhar Coal & Mines Private Limited acquires Gandhar oil refinery

Gandhar Coal & Mines Private Limited has made another acquisition of equity shares in Gandhar Oil Refinery (India) Ltd, purchasing 2,590 shares through open market operations on February…

Oil Refinery
LaunchACTIVE technology petrol

Jio-bp

Goa, India, January 29, 2026: Hon’ble Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri today launched the path-breaking ACTIVE technology petrol at Jio-bp (the operating…

Petrol
ContractService

Petronet lng · client: Oil and Natural Gas Corporation Limited

Petronet LNG Limited (PLL) and Oil and Natural Gas Corporation (ONGC) Limited have signed a Master Regasification Agreement (MRA) under which PLL will provide LNG regasification services…

ContractInfrastructure

Larsen and Toubro (L&T) Ltd. · client: Petronet lng

L&T Ltd. on Friday, January 16, said its hydrocarbon onshore business vertical won a "large" order from Petronet LNG, a joint venture promoted by four leading PSUs — ONGC, Indian Oil…

Petrochemical
ContractService

L&T Onshore · client: Petronet lng

L&T’s Hydrocarbon Onshore business vertical (L&T Onshore) has won a large order from Petronet LNG

Petrochemical
M&AAcquisition · Completed

Gandhar Coal & Mines Private Limited acquires Gandhar oil refinery

Gandhar Coal & Mines Private Limited, identified as a promoter group entity, acquired 53,816 equity shares of Gandhar Oil Refinery through open market purchase on December 30, 2025. The…

M&AAcquisition · Pending

Castrol acquires Castrol india

In addition to the announcement today, an announcement in respect of a mandatory tender offer (“MTO”) to the public shareholders of Castrol India Limited, in accordance with the Indian…

Lubricants
M&AAcquisition · Announced

Motion JVCo, Stonepeak, CPP Investment Board acquires Castrol india

Shares of Castrol India are in focus on Friday after Motion JVCo, Stonepeak, and CPP Investment Board launched an open offer to acquire 26% stake in the company.

M&AAcquisition · Announced

Stonepeak and CPPIB acquires Castrol india

Canada Pension Plan Investment Board and US private equity firm Stonepeak will launch an open offer to buy up to 26% stake in Castrol's Indian unit at a premium to the current trading…

Oil & Lubricants
M&AAcquisition · Announced

Motion acquires Castrol india

The open offer aims to acquire up to 26 percent of Castrol India’s equity from public shareholders, excluding the promoter group and certain specified parties. This could involve a…

M&AAcquisition · Announced

Stonepeak acquires Castrol india

BP has agreed to sell a 65% stake in Castrol to Stonepeak for about $6 billion, with CPPIB also investing up to $1.05 billion for an indirect stake. The deal gives Stonepeak control of…

Oil & Gas
M&AAcquisition · Announced

Motion JVCo Limited, Stonepeak and Canada Pension Plan Investment Board (CPPIB) acquires Castrol india

Motion JVCo Limited, along with Stonepeak and Canada Pension Plan Investment Board (CPPIB), has made an open offer to acquire up to 26% equity stake in Castrol India Ltd, according to a…

M&AAcquisition · Announced

Motion JVCo acquires Castrol india

Motion JVCo, part of Stonepeak Infrastructure Fund V, entities associated with it, and CPP Investment Board announced on Wednesday an open offer to public shareholders for up to a 26 per…

ContractSupply

Diamond Power Infrastructure Ltd · client: Adani Energy

Diamond Power bags ₹236 crore order from Adani Energy for Jamnagar project.

Renewable Energy
ContractSupply

Diamond Power Infrastructure · client: Adani Energy

The order valued at $31 million compliments the ongoing development of the renewable energy park in Gujarat.

Renewable Energy
FundingInvestment

Ultra Gas & Energy

In September this year, Essar Group’s clean-tech arm Ultra Gas & Energy Ltd (UGEL) announced a Rs 900 crore ($101 million) investment to expand its liquefied natural gas (LNG) refueling…

Investors GreenLine Mobility Solutions
Clean-tech

Oil & Gas Downstream companies in Maharashtra, by revenue

Browse oil & gas downstream companies in Maharashtra by reported revenue, one-year revenue growth, revenue model, age and stage. The 21 companies below are the largest by their most recent reported revenue among 21 oil & gas downstream companies in Maharashtra that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 21 of 21

Chains providing fuel, electric vehicle charging, and convenience store services

Oil & gas downstream
₹51,067.48 crFY 2024-25
+33%2024–2025
2,622-100% 12 mo to Oct 2024LinkedIn · Jul 2026
18 yr2008
3postings · last posted Sep 2026

Fuel & gas distribution company

Oil & gas downstream
₹7,089.22 crFY 2023-24
Not reported
810+11% 12 mo to Sep 2024LinkedIn · Oct 2026
31 yr1995
—No postings tracked

Manufacturer of white oils

Flavors and fragrances
₹3,909.92 crFY 2024-25
-5%2024–2025
398+9% 12 mo to Mar 2024LinkedIn · Oct 2026
34 yr1992
0none in 3 months

Manufactures lubricants, polymer products and oils

Oil & gas downstream
₹3,812.09 crFY 2023-24
Not reported
709-1% 12 mo to Mar 2021LinkedIn · Oct 2026
65 yr1961
1postings · last posted Aug 2026

Fuel distribution company

Oil & gas downstream
₹3,603.70 crFY 2024-25
+20%2024–2025
256LinkedIn · Oct 2026
20 yr2006
0none in 3 months

Manufacturer and supplier of bottled LPG gas cylinders

Oil & gas downstream
₹2,713.50 crFY 2023-24
Not reported
1,252+53% 12 mo to Mar 2023LinkedIn · Oct 2026
33 yr1993
0none in 3 months

Manufacturer and exporters of petroleum products

Oil & gas downstream
₹2,371.22 crFY 2023-24
Not reported
150+14% 12 mo to Sep 2024recorded Sep 2024
51 yr1975
—No postings tracked

Manufacturer and transporter of Bitumen and LPG

Manufacturing services
₹2,409.47 crFY 2024-25
+13%2024–2025
6+27% 12 mo to Mar 2023LinkedIn · Oct 2026
31 yr1995
1postings · last posted Sep 2026

Manufacturer of lubricating oils and greases

Oil & gas downstream
₹1,883.85 crFY 2022-23
Not reported
78-3% 12 mo to Sep 2024LinkedIn · Oct 2026
43 yr1983
—No postings tracked

Manufacturer and supplier of genuine oils, greases, and specialty engine oils for bikes and two-wheelers

Petrochemicals
₹695.68 crFY 2024-25
-4%2024–2025
566+7% 12 mo to Oct 2023LinkedIn · Oct 2026
34 yr1992
0none in 3 months · last posted Apr 2026

Privately owned company dealing with high-quality petroleum products, lubricants, and dairy products

Oil & gas downstream
₹353.20 crFY 2021-22
Not reported
—Not available
35 yr1991
—No postings tracked

Provider of oil lubricants

Oil & gas downstream
₹332.77 crFY 2021-22
Not reported
—Not available
27 yr1999
—No postings tracked

Manufacturer of premium quality industrial & automotive lubricants

Oil & gas downstream
₹286.28 crFY 2024-25
+9%2024–2025
176LinkedIn · Oct 2026
20 yr2006
0none in 3 months

Provider of ethanol and other clean energy fuel services

Oil & gas downstream
₹154.41 crFY 2024-25
+79%2024–2025
—Not available
5 yr2021
—No postings tracked

Company that delivers process engineering solutions to the oils and fats industry

Oil & gas downstream
₹135.89 crFY 2021-22
Not reported
32LinkedIn · Jul 2026
87 yr1939
—No postings tracked

Japanese manufacturer of fuel dispensing equipment and solutions, serving the retail petroleum industry globally

Oil & gas downstream
₹95.05 crFY 2024-25
+54%2024–2025
—Not available
20 yr2006
0none in 3 months

Manufacturer and wholesaler of a wide array of engine oil, bearing grease, and other lubricant products

Oil & gas downstream
₹70.26 crFY 2021-22
Not reported
14LinkedIn · Jul 2026
26 yr2000
0none in 3 months

Exploration, production and distribution of gas

Oil & gas downstream
₹49.37 crFY 2021-22
Not reported
3+0% 12 mo to Sep 2024recorded Sep 2024
46 yr1980
—No postings tracked

Provider of piped natural gas solutions for domestic and industrial use

Oil & gas downstream
₹19.26 crFY 2024-25
+490%2024–2025
69LinkedIn · Jul 2026
4 yr2022
0none in 3 months

Company that specializes in the production and distribution of compressed biogas, also known as Bio CNG, a renewable and ecofriendly alternative to traditional fossil fuels

Bioenergy
₹13.56 crFY 2024-25
-23%2024–2025
69-97% vs previous recordLinkedIn · Jul 2026
8 yr2018
0none in 3 months

Platform providing solutions for industrial applications

Oil & gas downstream
₹2.92 crFY 2024-25
+0%2024–2025
7LinkedIn · Jul 2026
23 yr2003
1postings · last posted Aug 2026
21 of 53 companies shown here · the full list is on Radar
Fliar Radar

Explore all 53 oil & gas downstream companies in Maharashtra on Radar

This page shows the top 21. Radar has the complete, filterable list with contacts and live company signals.

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Explore oil & gas downstream companies in Maharashtra by what you are looking for

Find oil and gas downstream companies in Maharashtra, from fuel distribution and LPG to lubricants and petrochemicals. Browse the top downstream oil and gas companies in Maharashtra by type.

8 ways to explore oil & gas downstream in Maharashtra

Fuel & gas distribution companiesLubricant, oil & grease manufacturersLPG, propane & industrial gas suppliersPetrochemical & refining companiesClean fuel, bioenergy & EV charging companiesListed oil & gas downstream companies in Maharashtra

Fuel & gas distribution companies

Companies distributing petrol, diesel, CNG and piped gas to vehicles and homes.

  1. Ultra Gas & Energy

    Provider of clean fuel solutions, including LNG and biofuels, for industries, heavy-duty vehicles, SMEs, hotels, and restaurants

    Utilities
    Website
  2. MNGL

    Fuel distribution company

    Oil & gas downstream
    See in list
  3. Bluebrahma Clean Energy Solutions

    Provider of ethanol and other clean energy fuel services

    Oil & gas downstream
    See in list
  4. Tatsuno

    Japanese manufacturer of fuel dispensing equipment and solutions, serving the retail petroleum industry globally

    Oil & gas downstream
    See in list
  5. Mahanagar Gas

    Fuel & gas distribution company

    Oil & gas downstream
    See in list
20 companies in MaharashtraAll 89 utilities companies in India →

Lubricant, oil & grease manufacturers

Manufacturers of lubricants, white oils, greases and specialty oils.

  1. Gandhar

    Manufacturer of white oils

    Flavors and fragrances
    See in list
  2. Savita Oil Technologies

    Manufactures lubricants, polymer products and oils

    Oil & gas downstream
    See in list
  3. Confidence Group

    Manufacturer and supplier of bottled LPG gas cylinders

    Oil & gas downstream
    See in list
  4. Standard Greases & Specialities

    Manufacturer of lubricating oils and greases

    Oil & gas downstream
    See in list
  5. DMK PETROTRADERS & CARRIER

    Privately owned company dealing with high-quality petroleum products, lubricants, and dairy products

    Oil & gas downstream
    See in list

LPG, propane & industrial gas suppliers

Suppliers of LPG cylinders, propane and industrial gases.

  1. Bombay Oxygen Investments

    Manufacturer of industrial gases

    Oil & gas downstream
    Website
  2. sohum autogas systems

    Sohum Autogas Systems designs, manufactures, and markets LPG, CNG, and natural gas products for the industrial and commercial sectors.

    Oil & gas downstream
    Website
  3. Gasonet

    Provider of piped natural gas solutions for domestic and industrial use

    Oil & gas downstream
    See in list
  4. sarthak industries limited

    Sarthak Industries is a LPG cylinder manufacturing company which distributes cylinders to oil companies.

    Oil & gas downstream
    Website
  5. Ultra Gas & Energy

    Provider of clean fuel solutions, including LNG and biofuels, for industries, heavy-duty vehicles, SMEs, hotels, and restaurants

    Utilities
    Website

Petrochemical & refining companies

Manufacturers of petrochemicals, paraffin oils, bitumen and refined products.

  1. Agarwal Industrial

    Manufacturer and transporter of Bitumen and LPG

    Manufacturing services
    See in list
  2. Nandan Petrochem

    Manufacturer and supplier of genuine oils, greases, and specialty engine oils for bikes and two-wheelers

    Petrochemicals
    See in list
  3. Columbia Petro Chem

    Manufacturer of petrochemicals and paraffin oils

    Petrochemicals
    Website
  4. Hpcl

    Energy company providing a range of petroleum products and services, including refining, marketing, and retailing of fuels, as well as exploration and production of oil and natural gas

    Oil & gas downstream
    Website

Clean fuel, bioenergy & EV charging companies

Companies offering CNG, LNG, biofuels and electric vehicle charging.

  1. Jio-bp

    Chains providing fuel, electric vehicle charging, and convenience store services

    Oil & gas downstream
    See in list
  2. Agarwal Industrial

    Manufacturer and transporter of Bitumen and LPG

    Manufacturing services
    See in list
  3. Nexgen Energia

    Company that specializes in the production and distribution of compressed biogas, also known as Bio CNG, a renewable and ecofriendly alternative to traditional fossil fuels

    Bioenergy
    See in list

Listed oil & gas downstream companies in Maharashtra

Publicly listed downstream oil and gas companies in Maharashtra.

  1. Mahanagar Gas

    Fuel & gas distribution company

    Oil & gas downstream
    See in list
  2. Gandhar

    Manufacturer of white oils

    Flavors and fragrances
    See in list
  3. Savita Oil Technologies

    Manufactures lubricants, polymer products and oils

    Oil & gas downstream
    See in list
  4. Confidence Group

    Manufacturer and supplier of bottled LPG gas cylinders

    Oil & gas downstream
    See in list
  5. Panama Petrochem

    Manufacturer and exporters of petroleum products

    Oil & gas downstream
    See in list
10 companies in Maharashtra

Oil & gas downstream startups in Maharashtra

Recently founded downstream oil and gas companies in Maharashtra.

  1. Bluebrahma Clean Energy Solutions

    Provider of ethanol and other clean energy fuel services

    Oil & gas downstream
    See in list
  2. Gasonet

    Provider of piped natural gas solutions for domestic and industrial use

    Oil & gas downstream
    See in list
  3. Cleon Lubricants

    Distributor of lubricants

    Oil & gas downstream
    Website
  4. HP Lubricants Distributor

    Distributor of industrial and lubricating oils

    Oil & gas downstream
    Website
4 companies in Maharashtra

Oil & gas downstream companies hiring in Maharashtra

Downstream oil and gas companies in Maharashtra with open roles.

  1. Jio-bp

    Chains providing fuel, electric vehicle charging, and convenience store services

    Oil & gas downstream
    See in list
  2. Savita Oil Technologies

    Manufactures lubricants, polymer products and oils

    Oil & gas downstream
    See in list
  3. Agarwal Industrial

    Manufacturer and transporter of Bitumen and LPG

    Manufacturing services
    See in list
  4. Nandan Petrochem

    Manufacturer and supplier of genuine oils, greases, and specialty engine oils for bikes and two-wheelers

    Petrochemicals
    See in list
  5. Shreeniwas Innovations

    Platform providing solutions for industrial applications

    Oil & gas downstream
    See in list
6 companies in Maharashtra
Mobile reach

Top 5 oil & gas downstream apps from Maharashtra

The most-installed Android apps published by oil & gas downstream companies headquartered in Maharashtra — 1.3M installs between them. 5 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 5
2

MyJio-bp

by Jio-bp

Installs61K
Rating—
Last updatedMay 2026
View on Google Play ↗
MyJio-bp screenshot 1MyJio-bp screenshot 2MyJio-bp screenshot 3MyJio-bp screenshot 4MyJio-bp screenshot 5MyJio-bp screenshot 6
The business behind the activity

Oil & Gas Downstream financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 20 oil & gas downstream companies in Maharashtra for FY24-25 — 22 of the 53 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 76% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹26,924.76 cr

20 companies filing accounts

combined net profit₹2,244.85 cr

8.3% aggregate margin

are profitable80%

16 of 20 companies

median revenue~₹282.1 cr

the typical company

median revenue growth+5%

into FY24-25

earned by the top five76%

revenue concentration

Six-year view

Combined revenue of filing companies

₹13,341.19 crFY19-2015 filers
₹12,118.64 crFY20-2118 filers
₹18,124.77 crFY21-2218 filers
₹24,280.61 crFY22-2320 filers
₹24,928.52 crFY23-2420 filers
₹26,924.76 crFY24-2520 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 19 companies over three years

+11%
FY22-23₹24,279.72 cr₹2,041.29 cr net
FY23-24₹24,925.26 cr₹2,586.95 cr net
FY24-25₹26,905.51 cr₹2,251.55 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr0—
₹1–10 cr250% profitable
₹10–100 cr650% profitable
₹100–1,000 cr4100% profitable
Over ₹1,000 cr8100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking5
0–20%11
20–50%1
50–100%2
Doubled+1

20 companies with accounts for both years; median growth +5%.

Profitability

Profit is concentrated at the top

16profitable
4loss-making
8.3%aggregate margin
2.6%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
GasonetGASONET SERVICES (RJ) LIMITED+490%₹19.26 cr
AsiaticGasASIATIC GASES LTD+56%₹26.65 cr
TatsunoTATSUNO INDIA PRIVATE LIMITED+54%₹95.05 cr
MNGLMAHARASHTRA NATURAL GAS LIMITED+20%₹3,603.70 cr
Agarwal IndustrialAGARWAL INDUSTRIAL CORPORATION LIMITED+12%₹2,019.49 cr
GandharGANDHAR OIL REFINERY (INDIA) LIMITED+11%₹3,175.11 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
AsiaticGasASIATIC GASES LTD38.9%₹26.65 cr
MNGLMAHARASHTRA NATURAL GAS LIMITED18.1%₹3,603.70 cr
TatsunoTATSUNO INDIA PRIVATE LIMITED14.3%₹95.05 cr
Mahanagar GasMAHANAGAR GAS LIMITED13.4%₹7,774.00 cr
Panama PetrochemPANAMA PETROCHEM LIMITED6.5%₹1,787.66 cr
Standard Greases & SpecialitiesSTANDARD GREASES AND SPECIALITIES PRIVATE LIMITED6.1%₹1,889.92 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Oil & gas downstream15₹19,825.23 cr~₹107.7 cr73%10.5%
Leaders

Largest oil & gas downstream companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Mahanagar GasMAHANAGAR GAS LIMITED₹7,774.00 cr₹1,044.89 cr13.4%+10%
Savita Oil TechnologiesSAVITA OIL TECHNOLOGIES LIMITED₹3,868.86 cr₹123.77 cr3.2%+1%
MNGLMAHARASHTRA NATURAL GAS LIMITED₹3,603.70 cr₹652.53 cr18.1%+20%
GandharGANDHAR OIL REFINERY (INDIA) LIMITED₹3,175.11 cr₹75.29 cr2.4%+11%
Agarwal IndustrialAGARWAL INDUSTRIAL CORPORATION LIMITED₹2,019.49 cr₹53.63 cr2.7%+12%
Standard Greases & SpecialitiesSTANDARD GREASES AND SPECIALITIES PRIVATE LIMITED₹1,889.92 cr₹115.65 cr6.1%+2%
Panama PetrochemPANAMA PETROCHEM LIMITED₹1,787.66 cr₹116.59 cr6.5%+3%
Columbia Petro ChemCOLUMBIA PETRO CHEM PRIVATE LIMITED₹16.98 cr1.4%+4%
Nandan PetrochemNANDAN PETROCHEM LIMITED₹695.68 cr₹17.47 cr2.5%-4%
Arabian PetroleumARABIAN PETROLEUM LIMITED₹286.28 cr₹9.12 cr3.2%+9%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Oil & Gas Downstream funding and M&A across India

8 recorded equity rounds have gone to 245 oil & gas downstream companies in India — how much, at which stage, into which sub-sectors, from whom, and how Maharashtra compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months0

US$0k

equity rounds, last 24 months0

US$0k

raised over five yearsUS$45.74m

2 rounds in India

M&A deals, India15

last 24 months

Capital by year

Equity funding into oil & gas downstream in India

amount rounds
$43m20231
$2.8m20241

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2023, with US$42.98m across 1 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

Series CUS$45.74m2 rounds · median US$22.87m
Where the money went · five years

Most-funded sub-sectors

Oil & gas downstreamUS$45.74m2 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

15Acquisition

Most active acquirers

  1. Motion JVCo, Stonepeak, CPP Investment Board3
  2. Gandhar Coal & Mines Private Limited2
  3. Dalmia Bharat Refractories1
  4. Confidence Petroleum India1
  5. Castrol1

Most acquired or merged

  1. Castrol india7
  2. Gandhar oil refinery2
  3. Nayara energy2
  4. Dalmia1
  5. BW Confidence Enterprise Private Limited1

Each deal appears in the events strip at the top of the page.

Founders and momentum in Maharashtra

Meet the people behind oil & gas downstream companies in Maharashtra. 16 of 53 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Keep exploring oil & gas downstream in India and nearby markets.

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