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Oil & Natural Gas Corpn Ltd

ONGC NSE

Key Fundamentals

LargecapOil Exploration & ProductionOil & Gas
Market Cap
3.0L Cr
Volatility
Moderate
P/E Ratio
6.91
EBITDA
1.0L Cr
Return on Equity
10.24%
Debt to Equity
0.47
Book Value
₹295.52
EPS
₹36.35
52W High
₹307.5
52W Low
₹227.65

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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33 extracted metrics + investor summaries across FY13–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

3
  • Stock is trading at 0.81 times its book value
  • Stock is providing a good dividend yield of 5.13%.
  • Company has been maintaining a healthy dividend payout of 38.0%

Weaknesses

1
  • Company has a low return on equity of 12.7% over last 3 years.

Growth Rate

Revenue Growth
6.05% ↘
Net Income Growth
27.37% ↗
Cash Flow Change
-8.07% ↘
ROE
-33.38% ↗
ROCE
-25.25% ↗
EBITDA Margin (Avg.)
-6.54% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 7d ago
AI opinion · based on fundamentals
Risk medium

ONGC trades at a PE of 6.1x and 0.82x book value with a market cap of roughly ₹3.00 lakh crore, offering a dividend yield of 5.07%. The company posted a standalone net profit of ₹35,610 crore in FY25 with crude oil production rising 0.9% to 18.558 MMT, though profit declined 7.6% in FY26 to ₹32,894 crore amid production challenges.

Bull Case 8
  • Deep value valuation at PE of 6.1x, significantly below broader market averages, implying limited downside from current levels
  • Stock trades at 0.82x price-to-book, offering a margin of safety relative to the company's net asset base of over ₹3.43 lakh crore in consolidated shareholders' funds
  • Dividend yield of 5.07% with a consistent payout ratio of 38%, providing meaningful income; FY25 total dividend was the highest ever at ₹16,669 crore
  • Compounded profit growth of 21% over 5 years and 15% TTM demonstrates earnings momentum even in a volatile crude price environment
  • Government-approved ₹84,084 crore Samudra Manthan deepwater mission to drill 150 wells over 7 years offers a long-term production growth runway
  • KG Basin deepwater block already producing 34,000 bpd with potential ramp-up to 45,000 bpd once technology partnerships are finalised
  • H1 FY26 consolidated net profit rose 23.2% YoY to ₹24,169 crore, showing recovery in operating performance
  • Compounded sales growth of 17% over 5 years and 18% over 10 years reflects structural revenue expansion across cycles
Bear Case 8
  • Return on equity of only 12-13% over 3-5 years is modest for a capital-intensive upstream company, limiting value creation for shareholders
  • FY26 full-year standalone net profit fell 7.6% to ₹32,894 crore from ₹35,610 crore, with Q4 FY26 production declining 4.9% YoY to 9.8 MMT
  • Natural gas production declined to 19.654 BCM in FY25 from 19.978 BCM in FY24, indicating aging mature fields
  • Crude oil production growth of just 0.9% in FY25 is negligible relative to India's rising energy demand, reflecting field maturity at Mumbai High and other legacy assets
  • Consolidated debt of ₹1.76 lakh crore (as of September 2025) is substantial and creates interest cost pressure in a rising capex environment
  • Crude realization fell 6.4% YoY to ₹6,561/bbl in Q2 FY25, exposing earnings to global oil price volatility outside the company's control
  • 3-year compounded profit growth of just 1% highlights earnings stagnation over the medium term despite high single-year figures
  • Stock CAGR of only 5% over 10 years indicates prolonged underperformance relative to broader indices despite periodic rallies

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 1
  • Consolidated profit drops 43% Aug 4

    While standalone net profit surged 112% YoY, consolidated profit fell 43% in Q1FY27 due to refining losses at subsidiaries, highlighting downstream vulnerability.

Positives 3
  • 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, advancing India's Samudra Manthan Mission for offshore hydrocarbon exploration.

  • Geothermal wells completed at Puga Jul 17

    ONGC Energy Centre finished two deep geothermal wells at Puga, Ladakh, advancing India's first demonstration-scale geothermal energy project for clean energy access.

Neutral 4
  • Final dividend ₹1 per share Aug 6

    ONGC fixed September 4, 2026 as record date for its ₹1 per share final dividend for FY26, pending shareholder approval at the 33rd AGM on August 31.

  • $500M guarantee for MRPL crude Jul 28

    Board approved a $500 million Parent Company Guarantee for subsidiary MRPL to import crude from Saudi Aramco, covering September 2026 to August 2028.

  • 1.75 MMT strategic reserves approved Jul 9

    ONGC Board approved developing 1.75 MMT Strategic Petroleum Reserves at Mangalore per Ministry of Petroleum directives.

  • Two Executive Directors resign Aug 1

    Executive Directors Amal Krishna and Madhukar Mohan resigned due to superannuation effective August 1, 2026.

TL;DR: ONGC's standalone upstream business is performing strongly with a 112% profit surge driven by offshore revenues, and exploration activity is accelerating with new deepwater and geothermal projects. The key risk is downstream drag from refining losses at subsidiaries like MRPL, which pulled consolidated profit down 43%. The upstream momentum and exploration expansion signal an improving operational trend, but subsidiary performance remains a near-term overhang to watch.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
6,12,065
6,62,243
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
5,23,205
5,59,128
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
88,861
1,03,116
92,694
OPM %
26%
32%
19%
18%
18%
13%
16%
16%
12%
17%
15%
16%
13%
Other Income
5,955
1,067
12,724
10,429
9,567
982
11,271
6,797
-30
14,712
13,278
14,927
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%
40%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
2,21,398
2,45,821
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
7,52,656
7,91,905
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
3,36,810
3,69,684
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
1,15,724
91,478
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
2,04,504
2,29,659
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
7,52,656
7,91,905
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
33,950
46,292
45,780
56,792
61,458
70,593
47,185
78,248
84,211
98,847
90,868
1,12,719
Investing
-30,058
-38,256
-43,815
-66,798
-37,132
-53,159
-39,141
-41,197
-72,799
-57,423
-42,901
-57,676
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
59
-1,287
Free Cash Flow
17,053
31,199
25,445
29,061
35,697
28,735
15,147
45,158
47,758
60,965
50,154
59,510
CFO/OP
102
138
105
119
103
155
111
115
132
111
118
128
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
43
25
16
16
13
8
19
14
11
12
13
12
Inventory Days
65
105
65
56
48
46
85
90
61
87
99
59
Days Payable
175
290
51
48
41
31
51
66
46
61
64
43
Cash Conversion Cycle
-67
-161
30
24
21
23
54
39
27
38
47
28
Working Capital Days
-30
-59
-85
-61
-44
-54
-50
-24
-30
-46
-37
-33
ROCE %
13%
13%
17%
14%
19%
10%
9%
16%
14%
18%
12%
14%

Shareholding Pattern

As of Jun 2026
Promoters 58.89%
DIIs 19.31%
Government 10.30%
FIIs 8.01%
Public 3.07%
Others 0.43%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
60.41%
60.41%
60.41%
60.41%
58.91%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
58.89%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
8.38%
0.00%
8.88%
8.57%
8.12%
7.53%
7.12%
7.09%
6.98%
7.42%
7.97%
8.01%
DIIs
17.47%
17.59%
17.87%
17.17%
16.35%
17.55%
18.17%
19.27%
19.88%
19.83%
19.59%
18.27%
18.88%
18.75%
19.04%
19.41%
19.94%
19.85%
19.96%
19.69%
19.31%
19.31%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
10.30%
Public
2.96%
2.89%
2.61%
2.61%
2.48%
2.55%
2.95%
2.67%
2.60%
2.50%
2.39%
2.46%
2.61%
3.04%
3.15%
3.37%
3.28%
3.41%
3.37%
3.26%
3.00%
3.07%
Others
19.16%
19.11%
19.11%
19.80%
22.26%
21.01%
9.70%
8.87%
8.33%
8.48%
0.44%
10.08%
0.44%
0.45%
0.51%
0.50%
0.48%
0.47%
0.50%
0.43%
0.52%
0.43%
No. of Shareholders
0
11,61,500
12,01,710
11,77,180
13,38,160
13,62,800
14,69,270
16,58,800
15,48,730
15,23,410
15,13,380
15,88,560
17,90,070
21,41,480
27,88,150
30,50,310
30,30,760
30,21,300
29,59,510
28,56,490
27,77,890
27,36,410

Documents

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 ₹303511.82 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 6.91. 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 5.15%. 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 10.24%. 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

Website ongcindia.com
Listed 1995-07-19
Face Value ₹ 5
Issued Size 12,58,02,79,206

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