Indian Energy, Oil & Gas Companies in Financial Distress (October 2026)
As of 09 October 2026, 4 of 54 Indian Energy, Oil & Gas companies analysed (7%) show financial-distress indicators: 2 very weak, 1 weak and 1 on watch. The most common red flags in this sector are operating profit does not cover interest, market-implied default probability >20%, very high leverage and liabilities exceed assets (negative equity).
What drives financial distress in Energy, Oil & Gas
Oil, gas, coal and solar — commodity-price exposure and high-yield debt; cash flow swings with prices.
Most common red flags today: Operating profit does not cover interest · Market-implied default probability >20% · Very high leverage · Liabilities exceed assets (negative equity)
Energy, Oil & Gas companies with distress signals
| # | Ticker | Company / industry | Distress score | Band | Ohlson PD | Merton PD | From 52w high | Key indicators | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | ABAN | Aban Offshore Limited Oil & Gas Drilling |
Very weak | 100% | 100.0% | -61% | Liabilities exceed assets (negative equity)Operating profit does not cover interestMarket-implied default probability >20% |
Details → | |
| 2 | OILCOUNTUB | Oil Country Tubular Limited Oil & Gas Equipment & Services |
Very weak | 72% | 0.0% | +0% | Operating profit does not cover interestCash runway under 12 monthsLosses in each of the last 3 years |
Details → | |
| 3 | PRABHA | Prabha Energy Limited Oil & Gas E&P |
Weak | 38% | 0.0% | -11% | Operating profit does not cover interestSevere working-capital shortfallVery high leverage |
Details → | |
| 4 | ANMOL | Anmol India Limited Thermal Coal |
Watch | 72% | 30.4% | -23% | Market-implied default probability >20%Thin interest coverageVery high leverage |
Details → |
Frequently asked questions
Which Energy, Oil & Gas companies are in financial distress?
As of 2026-10-09, 4 Indian Energy, Oil & Gas companies show financial-distress indicators (2 very weak, 1 weak and 1 on watch). The table on this page ranks them by score with the indicators behind each one. These are statistical signals, not predictions that any company will file.
How many Energy, Oil & Gas companies are in financial trouble?
4 of 54 analysed (7%); 2 are in the 'Very weak' band.
What are the biggest financial risks for Energy, Oil & Gas companies?
Oil, gas, coal and solar — commodity-price exposure and high-yield debt; cash flow swings with prices. Right now the most frequent red flags are operating profit does not cover interest, market-implied default probability >20%, very high leverage and liabilities exceed assets (negative equity).
What happens to shareholders if a company becomes insolvent?
Under the IBC the Committee of Creditors controls the resolution; the §53 waterfall pays secured creditors and workers first and equity last. In most resolution plans existing shareholders are wiped out or left with a token stake, and the company may be delisted.