Oil & Natural Gas Corpn Ltd
ONGC NSE
Oil & Natural Gas Corpn Ltd
Oil & Gas F&ONSE: ONGC BSE: 500312 Oil Exploration & Production
Key Fundamentals
LargecapOil Exploration & ProductionOil & GasMarket Cap
3.0L Cr
Volatility
Moderate
P/E Ratio
6.92
EBITDA
1.2L Cr
Return on Equity
12.15%
Debt to Equity
0.47
Book Value
₹295.52
EPS
₹36.35
52W High
₹307.5
52W Low
₹227.65
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Oil & Natural Gas Corpn Ltd insights
33 extracted metrics + investor summaries across FY13–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Stock is trading at 0.81 times its book value
- Company has been maintaining a healthy dividend payout of 32.0%
Weaknesses
1- Company has a low return on equity of 12.7% over last 3 years.
Growth Rate
Revenue Growth
-0.55% ↘
Net Income Growth
29.91% ↗
Cash Flow Change
24.06% ↗
ROE
18.65% ↗
ROCE
14.41% ↗
EBITDA Margin (Avg.)
14.68% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk medium
ONGC is a large-cap PSU oil & gas producer with a market cap of ₹3,00,807 Cr, trading at a PE of 6.7x and 0.81x book value. The company offers a dividend yield of 5.54% with TTM profit growth of 21%, though its 3-year ROE of ~13% remains modest for its scale.
Bull Case 8
- Stock trades at 0.81x price-to-book, well below its book value, indicating potential deep value
- PE ratio of 6.7x is significantly below the broader market average, suggesting earnings are cheaply valued
- Dividend yield of 5.54% is among the highest in large-cap space, supported by a consistent 38% payout ratio
- TTM compounded profit growth of 21% shows meaningful earnings acceleration in the recent period
- 5-year compounded sales growth of 17% and profit growth of 21% demonstrate sustained long-term revenue and earnings expansion
- 10-year compounded sales growth of 18% reflects the company's ability to grow topline through commodity cycles
- 5-year stock CAGR of 16% indicates re-rating has been underway after years of underperformance
- Market cap of ₹3,00,807 Cr provides high liquidity and institutional participation
Bear Case 8
- 3-year ROE averages only 13% and last year was 12%, which is low for a company of this scale and asset base
- 3-year compounded profit growth of just 1% indicates earnings stagnation over the medium term despite recent TTM improvement
- 3-year compounded sales growth of only 2% shows topline was largely flat over the past three years
- 1-year stock CAGR of 0% reflects zero price appreciation in the last twelve months despite earnings growth
- 10-year stock CAGR of just 4% significantly underperforms broader indices, indicating prolonged wealth destruction in real terms
- As a PSU, the company is subject to government-directed subsidy burdens and pricing controls that can compress realized margins unpredictably
- Being a commodity producer, earnings are highly sensitive to global crude oil prices — a $10/bbl drop can materially impact profitability
- Declining domestic production from mature fields poses structural volume risk despite new exploration efforts
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 21h ago Headwinds 1
- Consolidated profit down 43% Aug 4
While standalone profit surged, consolidated net profit fell 43% YoY in Q1FY27 due to refining losses at subsidiaries like MRPL.
Positives 2
- Standalone profit surges 112% YoY Aug 4
ONGC reported standalone net profit of ₹17,034 crore in Q1FY27, up 112% YoY driven by higher offshore revenues.
- Deepwater drilling in Mahanadi Basin Jul 25
ONGC spudded its first deepwater well MN-DW18-1-H-D in the Mahanadi Offshore Basin on July 25, 2026, advancing India's Samudra Manthan Mission.
Neutral 5
- Final dividend record date Sep 4 Aug 6
ONGC fixed September 4, 2026 as record date for final dividend of ₹1 per share for FY26, pending shareholder approval at AGM.
- 33rd AGM scheduled Aug 31 Aug 5
ONGC will hold its 33rd Annual General Meeting on August 31, 2026 via video conferencing.
- $500M guarantee for MRPL crude Jul 28
Board approved a $500 million Parent Company Guarantee for subsidiary MRPL to import crude from Saudi Aramco, valid September 2026 to August 2028.
- Two Executive Directors resign Aug 1
ONGC accepted resignations of EDs Amal Krishna and Madhukar Mohan due to superannuation effective August 1, 2026.
- Q1FY27 earnings call on Aug 5 Aug 1
ONGC scheduled a conference call on August 5, 2026 at 3:30 PM IST to discuss Q1FY27 results with analysts.
TL;DR: ONGC's standalone operations are performing strongly with a 112% profit surge driven by offshore revenues, and the company is investing in future production via deepwater exploration in Mahanadi Basin. However, subsidiary refining losses dragged consolidated profit down 43%, highlighting downstream risk. The core upstream business trend is improving, but investors should watch MRPL's refining margins and crude price movements as key variables going forward.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,63,824 | 1,47,614 | 1,67,357 | 1,72,137 | 1,68,968 | 1,59,331 | 1,67,213 | 1,67,749 | 1,63,106 | 1,57,911 | 1,67,423 | 1,73,801 | 2,04,987 |
| Expenses | 1,33,029 | 1,19,534 | 1,46,996 | 1,48,913 | 1,47,183 | 1,38,757 | 1,42,858 | 1,45,983 | 1,37,336 | 1,31,390 | 1,42,088 | 1,48,449 | 1,89,502 |
| Operating Profit | 30,795 | 28,080 | 20,360 | 23,224 | 21,785 | 20,574 | 24,354 | 21,766 | 25,770 | 26,521 | 25,335 | 25,352 | 15,485 |
| OPM % | 19% | 19% | 12% | 13% | 13% | 13% | 15% | 13% | 16% | 17% | 15% | 15% | 8% |
| Other Income | 3,069 | 3,673 | 4,299 | 3,375 | 3,535 | 4,162 | 2,415 | 3,548 | 2,464 | 3,447 | 3,450 | 5,702 | 3,858 |
| Interest | 2,364 | 3,243 | 3,203 | 3,608 | 3,694 | 3,827 | 3,750 | 3,264 | 3,341 | 3,411 | 3,207 | 3,070 | 2,854 |
| Depreciation | 7,078 | 7,079 | 7,494 | 8,420 | 8,501 | 8,254 | 9,539 | 8,912 | 9,384 | 9,273 | 9,388 | 9,345 | 9,477 |
| PBT | 24,422 | 21,431 | 13,962 | 14,570 | 13,125 | 12,655 | 13,480 | 13,137 | 15,509 | 17,284 | 16,190 | 18,640 | 7,012 |
| Tax % | 27% | 25% | 25% | 24% | 26% | 22% | 28% | 32% | 26% | 27% | 26% | 27% | 7% |
| Net Profit | 17,893 | 16,171 | 10,511 | 11,096 | 9,776 | 9,841 | 9,747 | 8,965 | 11,554 | 12,615 | 11,946 | 13,678 | 6,554 |
| EPS in Rs | 11.64 | 10.89 | 8.51 | 7.97 | 7.93 | 8.14 | 6.82 | 5.91 | 7.79 | 8.57 | 7.96 | 8.6 | 9.46 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,60,923 | 1,24,036 | 2,82,506 | 3,22,706 | 4,21,624 | 3,96,728 | 3,03,849 | 4,91,246 | 6,32,291 | 6,01,581 | 6,12,064 | 6,08,663 | 7,04,123 |
| Expenses | 1,18,610 | 84,901 | 2,29,702 | 2,65,817 | 3,46,805 | 3,44,623 | 2,54,375 | 4,11,373 | 5,56,764 | 4,99,198 | 5,23,207 | 5,05,543 | 6,11,429 |
| Operating Profit | 42,312 | 39,135 | 52,804 | 56,889 | 74,819 | 52,105 | 49,473 | 79,874 | 75,527 | 1,02,383 | 88,857 | 1,03,120 | 92,694 |
| OPM % | 26% | 32% | 19% | 18% | 18% | 13% | 16% | 16% | 12% | 17% | 15% | 17% | 13% |
| Other Income | 5,955 | 1,067 | 12,724 | 10,429 | 9,567 | 982 | 11,271 | 6,797 | -30 | 14,712 | 13,282 | 14,923 | 16,458 |
| Interest | 2,864 | 3,766 | 3,591 | 4,999 | 5,837 | 7,489 | 5,079 | 5,696 | 7,889 | 13,026 | 14,535 | 13,029 | 12,541 |
| Depreciation | 18,033 | 16,384 | 20,219 | 23,112 | 23,704 | 26,635 | 25,538 | 26,883 | 24,557 | 30,440 | 35,206 | 37,391 | 37,484 |
| PBT | 27,370 | 20,052 | 41,718 | 39,208 | 54,846 | 18,962 | 30,126 | 54,091 | 43,051 | 73,629 | 52,398 | 67,623 | 59,127 |
| Tax % | 35% | 35% | 30% | 34% | 38% | 40% | 29% | 9% | 24% | 25% | 27% | 26% | — |
| Net Profit | 17,703 | 13,102 | 29,169 | 26,068 | 33,938 | 11,456 | 21,360 | 49,294 | 32,778 | 55,273 | 38,329 | 49,793 | 44,793 |
| EPS in Rs | 14.29 | 10.03 | 19.03 | 17.23 | 24.28 | 8.59 | 12.96 | 36.19 | 28.17 | 39.06 | 28.8 | 32.93 | 34.59 |
| Div. Payout % | 44% | 56% | 40% | 38% | 29% | 58% | 28% | 29% | 40% | 31% | 43% | 22% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4,278 | 4,278 | 6,417 | 6,417 | 6,290 | 6,290 | 6,290 | 6,290 | 6,290 | 6,290 | 6,290 | 6,290 |
| Reserves | 1,76,177 | 1,93,536 | 1,87,969 | 1,97,602 | 2,10,644 | 1,98,814 | 2,14,691 | 2,53,213 | 2,74,357 | 3,32,779 | 3,37,150 | 3,65,478 |
| Borrowings | 53,944 | 45,500 | 80,029 | 1,06,550 | 1,07,742 | 1,29,473 | 1,33,187 | 1,21,986 | 1,42,255 | 1,91,195 | 1,87,817 | 1,74,316 |
| Other Liabilities | 1,03,448 | 98,459 | 1,70,111 | 1,48,664 | 1,67,667 | 1,73,787 | 1,87,580 | 2,01,771 | 1,90,212 | 2,06,357 | 2,21,401 | 2,39,518 |
| Total Liabilities | 3,37,847 | 3,41,772 | 4,44,525 | 4,59,232 | 4,92,343 | 5,08,364 | 5,41,748 | 5,83,260 | 6,13,115 | 7,36,621 | 7,52,658 | 7,85,602 |
| Fixed Assets | 1,79,933 | 1,66,277 | 2,11,125 | 2,26,058 | 2,30,391 | 2,43,892 | 2,43,746 | 2,54,402 | 2,50,819 | 3,17,183 | 3,40,175 | 3,46,073 |
| CWIP | 63,393 | 57,668 | 59,042 | 61,512 | 69,056 | 83,832 | 1,00,309 | 1,06,719 | 1,13,945 | 1,18,729 | 1,12,614 | 1,16,272 |
| Investments | 4,749 | 33,387 | 70,746 | 67,335 | 66,909 | 56,755 | 60,320 | 66,642 | 78,873 | 1,00,862 | 95,617 | 1,01,084 |
| Other Assets | 89,771 | 84,440 | 1,03,612 | 1,04,328 | 1,25,987 | 1,23,884 | 1,37,372 | 1,55,496 | 1,69,478 | 1,99,847 | 2,04,252 | 2,22,173 |
| Total Assets | 3,37,847 | 3,41,772 | 4,44,525 | 4,59,232 | 4,92,343 | 5,08,364 | 5,41,748 | 5,83,260 | 6,13,115 | 7,36,621 | 7,52,658 | 7,85,602 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 33,950 | 46,292 | 45,780 | 56,792 | 61,458 | 70,593 | 47,185 | 78,248 | 84,211 | 98,847 | 90,856 | 1,12,719 |
| Investing | -30,058 | -38,256 | -43,815 | -66,798 | -37,132 | -53,159 | -39,141 | -41,197 | -72,799 | -57,423 | -42,879 | -57,419 |
| Financing | -10,641 | -8,972 | -1,867 | 9,909 | -23,324 | -16,726 | -8,239 | -35,790 | -12,916 | -45,009 | -47,908 | -56,331 |
| Net Cash Flow | -6,749 | -935 | 99 | -97 | 1,001 | 708 | -195 | 1,261 | -1,504 | -3,586 | 68 | -1,031 |
| Free Cash Flow | 17,053 | 31,199 | 25,445 | 29,061 | 35,697 | 28,735 | 15,147 | 45,158 | 47,758 | 60,965 | 50,143 | 72,219 |
| CFO/OP | 102 | 138 | 105 | 119 | 103 | 155 | 111 | 115 | 132 | 111 | 118 | 128 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 43 | 25 | 16 | 16 | 13 | 8 | 19 | 14 | 11 | 12 | 13 | 13 |
| Inventory Days | 65 | 105 | 65 | 56 | 48 | 46 | 85 | 90 | 61 | 87 | 99 | 119 |
| Days Payable | 175 | 290 | 51 | 48 | 41 | 31 | 51 | 66 | 46 | 61 | 64 | 84 |
| Cash Conversion Cycle | -67 | -161 | 30 | 24 | 21 | 23 | 54 | 39 | 27 | 38 | 47 | 48 |
| Working Capital Days | -30 | -59 | -85 | -61 | -44 | -54 | -50 | -24 | -30 | -46 | -37 | -37 |
| ROCE % | 13% | 13% | 17% | 14% | 19% | 10% | 9% | 16% | 14% | 18% | 12% | 14% |
Documents
1
Change In Senior Management
1 May - ONGC’s Executive Directors Rajan Asthana and Shibu Augustine Manuel superannuate effective 1 May 2026. 1 May - ONGC’s Executive Directors Rajan Asthana and Shibu Augustine Manuel superannuate effective 1 May 2026.
2
Announcement under Regulation 30 (LODR)-Retirement
1 May - Shri Vivek Chandrakant Tongaonkar ceases as Director (Finance) and CFO from 1 May 2026. 1 May - Shri Vivek Chandrakant Tongaonkar ceases as Director (Finance) and CFO from 1 May 2026.
3
Board Meeting Intimation for Considering And Approving The Following Business Items:-
1. Audited Financial Results For The Quarter And Financial Year Ended 31St March, 2026; And
2. Recommendation Of Final Dividend, If Any, For The Financial Year Ended 31St March, 2026.
8 May - ONGC board meets 26 May 2026 to approve FY26 audited results and consider final dividend. 8 May - ONGC board meets 26 May 2026 to approve FY26 audited results and consider final dividend.
4
Change In Senior Management
30 Apr - ONGC reported demise of Executive Director Debasish Mukherjee on 30.04.2026; he ceased as Executive Director. 30 Apr - ONGC reported demise of Executive Director Debasish Mukherjee on 30.04.2026; he ceased as Executive Director.
5
Additional Charge Of The Post Of Director (Finance)
30 Apr - Manish Patil gets additional charge of Director (Finance) for three months from 1 May 2026. 30 Apr - Manish Patil gets additional charge of Director (Finance) for three months from 1 May 2026.
Frequently Asked Questions about Oil & Natural Gas Corpn Ltd
What does Oil & Natural Gas Corpn Ltd do?
ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production
Where is Oil & Natural Gas Corpn Ltd (ONGC) listed?
Oil & Natural Gas Corpn Ltd is listed on the Indian stock exchanges. It is listed on NSE: ONGC and BSE: 500312. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Oil & Natural Gas Corpn Ltd belong to?
Oil & Natural Gas Corpn Ltd operates in the Oil & Gas sector within the Oil Exploration & Production industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Oil & Natural Gas Corpn Ltd?
Oil & Natural Gas Corpn Ltd has a market capitalisation of approximately ₹302115.41 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Oil & Natural Gas Corpn Ltd?
The Price-to-Earnings (PE) ratio of Oil & Natural Gas Corpn Ltd is 6.92. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Oil & Natural Gas Corpn Ltd?
Over the past 52 weeks, Oil & Natural Gas Corpn Ltd has traded between a low of ₹227.65 and a high of ₹307.5. This range helps investors understand the stock's price volatility and recent trading levels.
Does Oil & Natural Gas Corpn Ltd pay dividends?
Yes, Oil & Natural Gas Corpn Ltd has a dividend yield of 5.56%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Oil & Natural Gas Corpn Ltd?
Oil & Natural Gas Corpn Ltd has a Return on Equity (ROE) of 12.15%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Oil & Natural Gas Corpn Ltd on Tapetide?
On Tapetide, you can view Oil & Natural Gas Corpn Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production