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Oil and Natural Gas Corporation Limited

Oil and Natural Gas Corporation Limited

ONGC.NS
Oil and Natural Gas Corporation LimitedIN flagNational Stock Exchange of India
267.75
INR
+2.70
- -
3.37TMarket Cap
Oil and Natural Gas Corporation Limited
ONGC.NS
(National Stock Exchange of India)

Recent

price

267.75

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
91.65
114.4
126.08
135.25
124.37
96.06
218.27
250.21
327.57
313.76
240.23
388.94
500.39
475.86
527.3
526.45
526.44
Revenue per Share
17.79
21.93
18.87
20.65
14.29
10.03
19.03
17.23
23.85
8.59
12.96
36.19
29.18
39.06
28.8
32.93
32.93
Basic EPS, GAAP
11.12
5.11
-1.87
-6.46
-1.16
12.6
7.36
9.23
14.57
12.41
3.34
26.81
27.93
37.14
27.97
46.69
- -
Free Cash Flow per Basic Share
7.9
5.74
7.4
6.5
6.17
3.83
11.96
7.4
7.88
6.6
2.46
10.27
14
10.25
13.5
13.5
- -
Dividend per Share
3.33
3.33
3.33
3.33
12.85
11.16
19.39
19.87
20.89
17.12
24.56
28.64
28.32
35.26
28.76
5
5
Book Value per Share
84.28
101.87
112.65
110.18
124.48
132.45
138.68
147.22
157.41
150.96
166.57
215
226.56
274.09
286.22
313.42
313.41
Tangible Book Value per Share
12,833
12,833
12,833
12,833
12,833
12,833
12,833
12,833
12,807
12,580
12,580
12,580
12,580
12,580
12,578
12,580
12,580
Basic Weighted Avg Shares
1,176,151
1,468,169
1,617,983
1,735,695
1,596,084
1,232,771
2,801,148
3,211,022
4,195,139
3,947,132
3,022,162
4,893,011
6,295,101
5,986,442
6,632,606
6,622,473
6,622,473
Sales/Revenue/Turnover
26.46
34.15
28.53
25.53
23.7
25.17
12.82
12.86
15.17
10.81
10.87
12.48
10.69
12.87
17.28
20.24
20.24
Operating Margin (%)
113,528
131,865
120,942
165,809
180,330
163,841
202,192
230,887
219,330
249,484
248,997
260,190
258,877
315,149
352,060
373,907
- -
Depreciation Expense
228,250
281,436
242,196
265,065
183,335
128,752
244,192
221,059
305,460
108,036
163,044
455,221
367,093
491,439
362,256
414,244
414,244
Net Income, GAAP
33.49
33.58
34.71
32.38
35.43
34.66
30.08
33.51
38.12
39.58
29.1
8.87
23.91
24.93
26.85
26.37
26.37
Effective Tax Rate (%)
19.41
19.17
14.97
15.27
11.49
10.44
8.72
6.88
7.28
2.74
5.39
9.3
5.83
8.21
5.46
6.26
6.26
Profit Margin (%)
198,071
107,615
69,544
-41,028
74,312
69,011
-448,069
-445,367
-478,035
-443,631
-301,454
-213,756
-177,674
-291,267
-320,455
-269,492
-269,492
Working Capital
62,912
51,705
88,292
316,809
393,158
401,147
502,113
550,080
527,733
809,464
946,198
972,594
1,335,616
1,225,468
1,228,589
1,164,042
1,164,042
LT Debt
1,173,291
1,386,631
1,544,742
1,750,635
1,912,552
2,004,655
2,076,772
2,196,249
2,337,784
2,235,103
2,425,968
2,841,867
2,995,934
3,596,243
3,742,351
4,096,933
4,096,933
Total Equity
17.8
23.94
18.29
15.01
10.6
8.37
9.4
8.96
11.87
7.4
6.26
14.08
11.6
11.27
15.07
17.22
17.22
Return on Invested Capital (%)
137.12
159.25
100.03
64.11
32.88
22.44
24.25
15.42
20.13
7.93
7.86
24.54
21.86
21.44
17.52
18.02
18.02
Return on Capital (%)
252.85
657.91
566.18
619.64
176.58
83.59
124.56
87.75
116.92
44.74
62.19
136.04
102.46
122.87
89.97
195.12
195.12
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
609,924
- -
579,123
LT Borrowings
924,739
- -
938,229
LT Finance Leases
225,514
- -
225,813
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
12,580
- -
12,580
Market Capitalization
3,011,596
3,023,483
3,580,817

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
1,449,611
- -
1,419,394
Cash, Cash Equivalents & STI
587,312
- -
451,536
Accounts Receivable, Net
210,374
- -
220,145
Inventories
554,607
- -
649,183
Total Current Liabilities
1,658,800
- -
1,688,886
Payables & Accruals
- -
- -
- -
ST Debt
609,924
- -
579,123
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.61%
11.23%
9.47%
Free Cash Flow
73.4%
156.43%
66.93%
Net Income, GAAP
28.64%
36.35%
14.35%
Sales/Revenue/Turnover
23.95%
19.26%
-0.15%
Total Cash Common Dividend
45.84%
71.71%
-0.03%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,638,236
1,476,137
1,673,566
1,122,441
5,986,442
2025
1,689,680
1,593,310
1,672,126
1,677,490
6,632,606
2026
1,631,081
1,579,111
1,674,229
1,738,052
6,622,473

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
11.64
10.89
8.51
- -
39.06
2025
7.93
8.13
6.83
5.91
28.8
2026
7.79
8.58
7.96
8.6
32.93

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
10.25
2025
- -
- -
- -
- -
13.5
2026
- -
- -
- -
- -
13.5
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Business
Oil and Natural Gas Corporation Limited (ONGC) is India's largest producer of crude oil and natural gas, contributing around 71% of the country's domestic crude oil production and 84% of its natural gas output; the Maharatna public sector undertaking explores, develops, and produces hydrocarbons through onshore and offshore operations across 11 domestic assets and 7 exploratory basins, supplies crude oil, natural gas, and value-added products to major refiners including subsidiaries HPCL and MRPL, and provides integrated oilfield services such as drilling, geophysical logging, and well services. ONGC offers additional capabilities in coal bed methane, shale gas exploration, petrochemicals via subsidiary ONGC Petro-additions Limited (OPaL) producing polymers and chemicals, power generation through gas-based plants, pipeline transportation networks exceeding 25,500 kilometers, and emerging renewables including solar installations totaling 36 megawatts and wind capacity of 154 megawatts as of early 2023. Wholly-owned subsidiary ONGC Videsh operates 35 oil and gas assets in 15 countries including Azerbaijan, Russia, Brazil, Colombia, and Mozambique, while other subsidiaries like Mangalore Refinery and Petrochemicals Limited process 15 million metric tons per annum of crude into fuels and petrochemicals such as para-xylene and benzene. Founded in 1956 and headquartered in New Delhi, India, ONGC conducts primary operations domestically with significant international presence and targets energy security through its fully integrated hydrocarbon value chain. In recent developments, ONGC plans a Rs 4,600 crore investment in the KG Basin offshore expansion including new wells and platforms to boost East Coast output; ONGC Green Limited, formed to meet net-zero targets by 2038, acquired PTC Energy adding 289 megawatts of wind power and, through a joint venture with NTPC, purchased Ayana Renewable Power in March 2025 expanding its renewable portfolio to 2.5 gigawatts; the company increased its stake in OPaL to over 95% with Rs 183 billion additional investment, partnered with Powergrid in December 2024 and BHEL in January 2025 for green hydrogen, signed with Tata Power in February 2025 for battery storage, and pursued critical minerals via an MoU with UAE's International Resources Holding alongside overseas interests in Azerbaijan's ACG field and Baku-Tbilisi-Ceyhan pipeline.