Oil & Natural Gas Corporation Ltd.

•

ongcindia.comBSE: 500312NSE: ONGC

Market Cap₹ 2,92,554 Cr.

Current Price

High / Low₹ 308 / 228

Stock P/E6.7

Book Value₹ 300

Price to Book0.96

Dividend Yield5.70 %

ROCE16.0 %

ROE13.9 %

Face Value₹ 5

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Refining: 82.5% • Offshore - E&P: 8.8% • Onshore - E&P: 5.1%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.11x)
Company has been maintaining a healthy dividend payout of 40.2%
Company has a consistent dividend-paying track record
Offers a healthy dividend yield of 5.7%
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (43.7% of PBT)
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsCrude OilOil Exploration

Part ofNIFTY 50 NIFTY CPSE NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250 NIFTY100 EQL WGT

S.No.	Name
1.	ONGC	232.55	6.72	292554.39	5.70	6554.44	-43.27	204987.35	25.68	15.96	7.85
2.	OIL	488.25	9.51	79419.13	2.36	4026.83	-80.32	12886.27	47.27	12.43	46.35
3.	DEEPINDS	774.70	24.01	4958.08	0.32	89.15	44.48	278.92	39.81	7.44	38.77
4.	ANTELOPUS	1139.35	30.19	4006.22	0.00	543.20	4741.35	1310.40	2488.19	22.91	70.18
5.	ASIANENE	534.55	45.18	2600.44	0.23	12.76	126.51	271.19	135.06	16.63	8.09
6.	DOLPHIN	649.90	36.10	2599.90	0.00	148.14	1207.16	428.46	2505.73	14.92	59.07
7.	HINDOILEXP	185.25	97.57	2449.81	0.00	6.24	-85.79	114.18	45.17	12.33	4.82
8.	JINDRILL	633.55	9.58	1836.10	0.16	47.14	-28.69	275.39	8.38	15.30	35.72
9.	GNRL	104.05	82.65	1596.15	0.00	11.35	488.84	5.72	70.36	-0.56	202.01
10.	AAKASH	9.10	18.18	92.14	0.00	0.26	-36.86	23.35	7.11	5.39	9.38

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	1,63,824	1,47,614	1,67,357	1,72,137	1,68,968	1,59,331	1,67,213	1,67,749	1,63,108	1,57,911	1,67,423	1,73,805	2,04,987
	1,33,029	1,19,534	1,46,996	1,48,913	1,47,183	1,38,745	1,42,494	1,45,983	1,37,201	1,31,390	1,42,088	1,48,449	2,01,833
Operating Profit	30,795	28,080	20,360	23,224	21,785	20,586	24,719	21,766	25,907	26,521	25,335	25,356	3,154
OPM %	18.80%	19.02%	12.17%	13.49%	12.89%	12.92%	14.78%	12.98%	15.88%	16.80%	15.13%	14.59%	1.54%
	2,544	2,614	3,757	1,633	2,761	4,162	2,415	2,908	2,555	3,108	3,353	2,906	2,317
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
Profit before Tax	23,896	20,372	13,420	12,829	12,352	12,668	13,845	12,498	15,736	16,945	16,093	15,847	7,012
Tax %	27.32%	25.82%	25.71%	27.08%	27.12%	22.21%	26.97%	33.38%	25.13%	27.56%	26.37%	31.31%	6.53%
Net Profit	17,383	16,553	0	0	10,236	9,878	9,784	8,856	11,554	12,615	11,946	13,678	6,554
	11.64	10.89	8.51	7.97	7.93	8.13	6.83	5.91	7.79	8.58	7.96	8.60	9.46

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,82,506	3,22,706	4,21,626	3,96,763	3,03,892	4,91,301	6,32,326	6,01,581	6,12,064	6,08,663	7,04,127
	2,49,180	2,83,892	3,65,060	3,59,047	2,66,528	4,25,717	5,73,518	5,18,724	5,43,357	5,22,726	6,23,760
Operating Profit	33,326	38,814	56,566	37,716	37,364	65,584	58,808	82,857	68,707	85,937	80,367
OPM %	11.80%	12.03%	13.42%	9.51%	12.30%	13.35%	9.30%	13.77%	11.23%	14.12%	11.41%
	29,392	26,413	24,973	15,006	23,458	20,920	20,121	31,518	32,396	29,103	11,683
Interest	3,591	5,621	6,418	8,058	6,176	6,994	9,636	14,624	14,535	13,029	12,541
Depreciation	20,219	23,112	23,704	26,635	25,538	26,883	24,581	30,440	35,206	37,391	37,484
Profit before Tax	41,718	39,208	54,846	18,962	30,126	54,091	44,746	73,629	52,398	67,623	55,897
Tax %	30.08%	33.51%	38.12%	39.58%	29.10%	8.87%	23.91%	24.93%	26.85%	26.37%	25.64%
Net Profit	29,169	26,068	33,938	11,456	21,360	49,294	34,046	55,273	38,329	49,793	41,564
EPS	19.03	17.23	23.85	8.59	12.96	36.19	29.18	39.06	28.80	32.93	—
Dividend Payout %	47.69%	38.32%	28.83%	58.22%	27.78%	29.02%	38.55%	31.36%	42.54%	40.24%	—

COMPOUNDED SALES GROWTH

10 Years:: 17%
5 Years:: 15%
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: 12%
5 Years:: 21%
3 Years:: 4%

STOCK PRICE CAGR

10 Years:: 3%
5 Years:: 14%
3 Years:: 9%
1 Year:: -1%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 15%
3 Years:: 14%
Last Year:: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6,417	6,417	6,290	6,290	6,290	6,290	6,290	6,290	6,290	6,290
Minority Interest	13,292	15,606	18,106	18,406	21,616	23,825	20,608	20,555	30,795	37,925
	1,87,969	1,97,602	2,10,644	1,98,814	2,14,691	2,53,213	2,76,485	3,32,779	3,37,150	3,65,478
	75,441	1,03,159	1,03,489	1,13,798	1,26,546	1,13,633	1,25,666	1,51,118	1,62,549	1,48,970
Trade Payables	24,014	26,485	30,557	22,961	26,925	40,186	33,643	38,147	38,981	46,933
	1,82,471	1,55,612	1,71,326	1,47,081	1,44,518	1,44,915	1,52,902	1,86,726	1,75,883	1,78,805
Total Liabilities	4,89,602	5,04,881	5,40,413	5,07,350	5,40,585	5,82,062	6,15,594	7,35,616	7,51,648	7,84,401
	2,11,125	2,32,890	2,30,383	2,43,884	2,43,738	2,54,394	2,51,092	3,20,256	3,40,167	3,46,065
Capital Work in Progress	21,373	14,541	29,896	45,836	62,898	71,485	95,993	91,656	87,290	91,478
	70,746	67,335	66,909	56,755	60,320	66,642	78,873	1,00,862	95,617	1,01,084
	29,882	30,557	35,134	33,051	44,573	54,163	44,241	53,793	58,956	64,918
	0	0	0	0	0	0	0	19,704	21,243	22,014
Cash & Bank	13,213	5,063	4,820	9,640	7,192	6,841	29,140	41,832	27,178	32,179
	1,43,264	1,54,495	1,73,271	1,18,184	1,21,862	1,28,537	1,16,254	1,07,514	1,21,196	1,26,662
Total Assets	4,89,602	5,04,881	5,40,413	5,07,350	5,40,585	5,82,062	6,15,594	7,35,616	7,51,648	7,84,401

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	55,404	67,590	76,783	80,610	54,722	91,745	1,01,616	98,847	90,856	1,12,719
Cash from Investing	-45,056	-67,111	-37,332	-53,498	-39,092	-41,330	-75,095	-57,485	-42,999	-57,676
Cash from Financing	-1,867	9,909	-23,324	-16,726	-8,239	-35,790	-12,876	-45,009	-47,908	-56,331
	-1,143	-410	801	368	-146	1,129	-1,909	-3,648	-52	-1,287

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
58.89	58.89	58.89	58.89	58.89	58.89	58.89	58.89	58.89
8.57	8.12	7.53	7.12	7.08	6.98	7.43	7.97	8.01
18.75	19.04	19.40	19.93	19.85	19.96	19.69	19.30	19.31
10.30	10.30	10.30	10.30	10.30	10.30	10.30	10.30	10.30
3.50	3.65	3.87	3.76	3.88	3.87	3.70	3.55	3.50

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Oil & Natural Gas Corporation Limited has informed the Exchange about Intimation regarding ESG Rating

2026-09-08

Change in Auditors

2026-09-08 - Oil & Natural Gas Corporation Limited has informed the Exchange regarding Change in Auditors of the company.

2026-09-01

Shareholders meeting

2026-09-01 - Oil & Natural Gas Corporation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-01

General Updates

2026-09-01 - Oil & Natural Gas Corporation Limited has informed the Exchange about Change in Senior Management

2026-08-31

Shareholders meeting

2026-08-31 - Oil & Natural Gas Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026

2026-08-31

Updates

2026-08-31 - Oil & Natural Gas Corporation Limited has informed the Exchange regarding 'Presentation for Post AGM Media Interaction'.

2026-08-26

General Updates

2026-08-26 - Oil & Natural Gas Corporation Limited has informed the Exchange about Disclosure of event or information under Regulation 30 of SEBI (LODR) Regulations, 2015

2026-08-21

Copy of Newspaper Publication

2026-08-21 - Oil & Natural Gas Corporation Limited has informed the Exchange about Newspaper Publications: Addendum to Notice of 33rd Annual General Meeting

2026-08-20

General Updates

2026-08-20 - Oil & Natural Gas Corporation Limited has informed the Exchange about Addendum to Notice of 33rd Annual General Meeting

News

Recent coverage and analyst commentary for ONGC

Loading news…

🤖

AI Stock Analyst

Oil & Natural Gas Corporation Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

ONGC

232.55

6.72

292554.39

5.70

6554.44

-43.27

204987.35

25.68

15.96

7.85

OIL

488.25

9.51

79419.13

2.36

4026.83

-80.32

12886.27

47.27

12.43

46.35

DEEPINDS

774.70

24.01

4958.08

0.32

89.15

44.48

278.92

39.81

7.44

38.77

ANTELOPUS

1139.35

30.19

4006.22

0.00

543.20

4741.35

1310.40

2488.19

22.91

70.18

ASIANENE

534.55

45.18

2600.44

0.23

12.76

126.51

271.19

135.06

16.63

8.09

DOLPHIN

649.90

36.10

2599.90

0.00

148.14

1207.16

428.46

2505.73

14.92

59.07

HINDOILEXP

185.25

97.57

2449.81

0.00

6.24

-85.79

114.18

45.17

12.33

4.82

JINDRILL

633.55

9.58

1836.10

0.16

47.14

-28.69

275.39

8.38

15.30

35.72

GNRL

104.05

82.65

1596.15

0.00

11.35

488.84

5.72

70.36

-0.56

202.01

AAKASH

9.10

18.18

92.14

0.00

0.26

-36.86

23.35

7.11

5.39

9.38

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

1,63,824

1,47,614

1,67,357

1,72,137

1,68,968

1,59,331

1,67,213

1,67,749

1,63,108

1,57,911

1,67,423

1,73,805

2,04,987

1,33,029

1,19,534

1,46,996

1,48,913

1,47,183

1,38,745

1,42,494

1,45,983

1,37,201

1,31,390

1,42,088

1,48,449

2,01,833

Operating Profit

30,795

28,080

20,360

23,224

21,785

20,586

24,719

21,766

25,907

26,521

25,335

25,356

3,154

OPM %

18.80%

19.02%

12.17%

13.49%

12.89%

12.92%

14.78%

12.98%

15.88%

16.80%

15.13%

14.59%

1.54%

2,544

2,614

3,757

1,633

2,761

4,162

2,415

2,908

2,555

3,108

3,353

2,906

2,317

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

Profit before Tax

23,896

20,372

13,420

12,829

12,352

12,668

13,845

12,498

15,736

16,945

16,093

15,847

7,012

Tax %

27.32%

25.82%

25.71%

27.08%

27.12%

22.21%

26.97%

33.38%

25.13%

27.56%

26.37%

31.31%

6.53%

Net Profit

17,383

16,553

10,236

9,878

9,784

8,856

11,554

12,615

11,946

13,678

6,554

11.64

10.89

8.51

7.97

7.93

8.13

6.83

5.91

7.79

8.58

7.96

8.60

9.46

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,82,506

3,22,706

4,21,626

3,96,763

3,03,892

4,91,301

6,32,326

6,01,581

6,12,064

6,08,663

7,04,127

2,49,180

2,83,892

3,65,060

3,59,047

2,66,528

4,25,717

5,73,518

5,18,724

5,43,357

5,22,726

6,23,760

Operating Profit

33,326

38,814

56,566

37,716

37,364

65,584

58,808

82,857

68,707

85,937

80,367

OPM %

11.80%

12.03%

13.42%

9.51%

12.30%

13.35%

9.30%

13.77%

11.23%

14.12%

11.41%

29,392

26,413

24,973

15,006

23,458

20,920

20,121

31,518

32,396

29,103

11,683

Interest

3,591

5,621

6,418

8,058

6,176

6,994

9,636

14,624

14,535

13,029

12,541

Depreciation

20,219

23,112

23,704

26,635

25,538

26,883

24,581

30,440

35,206

37,391

37,484

Profit before Tax

41,718

39,208

54,846

18,962

30,126

54,091

44,746

73,629

52,398

67,623

55,897

Tax %

30.08%

33.51%

38.12%

39.58%

29.10%

8.87%

23.91%

24.93%

26.85%

26.37%

25.64%

Net Profit

29,169

26,068

33,938

11,456

21,360

49,294

34,046

55,273

38,329

49,793

41,564

EPS

19.03

17.23

23.85

8.59

12.96

36.19

29.18

39.06

28.80

32.93

—

Dividend Payout %

47.69%

38.32%

28.83%

58.22%

27.78%

29.02%

38.55%

31.36%

42.54%

40.24%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

6,417

6,290

Minority Interest

13,292

15,606

18,106

18,406

21,616

23,825

20,608

20,555

30,795

37,925

1,87,969

1,97,602

2,10,644

1,98,814

2,14,691

2,53,213

2,76,485

3,32,779

3,37,150

3,65,478

75,441

1,03,159

1,03,489

1,13,798

1,26,546

1,13,633

1,25,666

1,51,118

1,62,549

1,48,970

Trade Payables

24,014

26,485

30,557

22,961

26,925

40,186

33,643

38,147

38,981

46,933

1,82,471

1,55,612

1,71,326

1,47,081

1,44,518

1,44,915

1,52,902

1,86,726

1,75,883

1,78,805

Total Liabilities

4,89,602

5,04,881

5,40,413

5,07,350

5,40,585

5,82,062

6,15,594

7,35,616

7,51,648

7,84,401

2,11,125

2,32,890

2,30,383

2,43,884

2,43,738

2,54,394

2,51,092

3,20,256

3,40,167

3,46,065

Capital Work in Progress

21,373

14,541

29,896

45,836

62,898

71,485

95,993

91,656

87,290

91,478

70,746

67,335

66,909

56,755

60,320

66,642

78,873

1,00,862

95,617

1,01,084

29,882

30,557

35,134

33,051

44,573

54,163

44,241

53,793

58,956

64,918

19,704

21,243

22,014

Cash & Bank

13,213

5,063

4,820

9,640

7,192

6,841

29,140

41,832

27,178

32,179

1,43,264

1,54,495

1,73,271

1,18,184

1,21,862

1,28,537

1,16,254

1,07,514

1,21,196

1,26,662

Total Assets

4,89,602

5,04,881

5,40,413

5,07,350

5,40,585

5,82,062

6,15,594

7,35,616

7,51,648

7,84,401

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

55,404

67,590

76,783

80,610

54,722

91,745

1,01,616

98,847

90,856

1,12,719

Cash from Investing

-45,056

-67,111

-37,332

-53,498

-39,092

-41,330

-75,095

-57,485

-42,999

-57,676

Cash from Financing

-1,867

9,909

-23,324

-16,726

-8,239

-35,790

-12,876

-45,009

-47,908

-56,331

-1,143

-410

801

368

-146

1,129

-1,909

-3,648

-52

-1,287

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

58.89

8.57

8.12

7.53

7.12

7.08

6.98

7.43

7.97

8.01

18.75

19.04

19.40

19.93

19.85

19.96

19.69

19.30

19.31

10.30

3.50

3.65

3.87

3.76

3.88

3.87

3.70

3.55

3.50

Oil & Natural Gas Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Oil & Natural Gas Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI