Oil & Natural Gas Corp. Ltd. (ONGC) AI Stock Analysis

• Market Cap: ₹3.18T
• Dividend Yield: 4.86%
• Average Volume (3M): 572.51K
• Price to Earnings (P/E): 8.8
• Beta (1Y): 1.01
• Revenue Growth: 1.94%
• EPS Growth: -18.38%
• Country: IN
• Employees: 25,847
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Integrated
• EPS (TTM): 6.38
• Shares Outstanding: 12,580,279,000
• 10 Day Avg. Volume: 449,677
• 30 Day Avg. Volume: 572,506
• PEG Ratio: -0.33
• Price to Book (P/B): 0.91
• Price to Sales (P/S): 0.47
• P/FCF Ratio: 8.87
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹304.00
• Price Target Upside: 20.44% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: ₹263.00 ▲(4.20% Upside)

Oil & Natural Gas Corp. Ltd. scores well due to its strong valuation metrics, with an attractive P/E ratio and high dividend yield. Financial performance is solid, though cash flow challenges and technical indicators suggest caution. The absence of earnings call data and corporate events limits additional insights.

Oil & Natural Gas Corp. Ltd. Business Overview & Revenue Model

Company Description

Oil and Natural Gas Corporation Limited explores for, develops, and produces crude oil and natural gas in India and internationally. It operates through two segments, Exploration and Production, and Refining & Marketing. The company also engages in the refining and marketing of petroleum products; transportation of oil and natural gas; and production of liquefied petroleum gas, butane, ethane/propane, naphtha, kerosene oil, low sulphur heavy stock, aviation turbine fuel, mineral turpentine oil, carbon credits, and diesel. In addition, it generates electric power through 726.6 megawatts (MW) gas-based power project in Tripura; a 51 MW wind power project in Bhuj, Gujarat; and a 102 MW wind power project in Jaisalmer, Rajasthan, as well as generates solar power through a total installed capacity of 31.3 MW. The company was incorporated in 1993 and is based in New Delhi, India.

How the Company Makes Money

ONGC makes money primarily through the exploration, development, and production of crude oil and natural gas, which it sells domestically and internationally. The company generates revenue from the sale of these hydrocarbons to refineries and other entities that process them into usable products like gasoline, diesel, and other petrochemicals. ONGC's key revenue streams include sales from its domestic and international oil and gas exploration and production activities. Additionally, the company benefits from strategic partnerships and joint ventures, both within India and globally, which help expand its exploration and production capabilities. ONGC also earns revenue through its subsidiaries in refining, petrochemicals, and power generation, providing a diversified income base. The company's earnings are significantly influenced by global oil and gas prices, government policies, and its ability to efficiently manage and expand its reserves.

Oil & Natural Gas Corp. Ltd. Financial Statement Overview

Summary

Oil & Natural Gas Corp. Ltd. demonstrates solid financial performance with strong revenue growth and efficient operations. The balance sheet is stable with manageable debt levels, though there is room for improvement in asset efficiency. Cash flow management presents challenges, particularly in sustaining free cash flow growth.

Income Statement

Oil & Natural Gas Corp. Ltd. has shown strong revenue growth with a 12.13% increase from last year and a consistent rise over the past few years. The gross profit margin stands at 35.69%, indicating healthy profitability. Although the net profit margin has declined to 5.46% from the previous year, it remains within industry standards. EBIT and EBITDA margins are robust, reflecting efficient operations.

Balance Sheet

The company maintains a stable financial position with a debt-to-equity ratio of 0.55, suggesting reasonable leverage. Return on Equity (ROE) is 10.55%, highlighting effective use of shareholder funds. The equity ratio is 45.28%, indicating a solid equity base relative to total assets, though there is room for improvement in asset utilization.

Cash Flow

Operating cash flow to net income ratio is 2.51, showing strong cash generation relative to net income. The free cash flow to net income ratio decreased, suggesting reduced cash available after capital expenditures. The free cash flow growth rate is negative, reflecting challenges in maintaining cash flows amidst increased capital spending.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.58T	6.63T	6.02T	6.32T	4.91T	3.04T
Gross Profit	1.19T	1.15T	1.26T	1.05T	1.01T	657.26B
EBITDA	891.49B	856.92B	991.27B	790.82B	770.42B	542.51B
Net Income	360.21B	362.26B	491.44B	367.09B	455.22B	163.04B
Balance Sheet
Total Assets	0.00	7.59T	7.10T	6.18T	5.85T	5.43T
Cash, Cash Equivalents and Short-Term Investments	326.36B	304.30B	471.93B	371.09B	124.27B	132.82B
Total Debt	0.00	1.88T	1.61T	1.50T	1.30T	1.41T
Total Liabilities	-3.74T	3.84T	3.45T	3.15T	3.02T	3.01T
Stockholders Equity	3.74T	3.43T	3.37T	2.83T	2.60T	2.21T
Cash Flow
Free Cash Flow	0.00	351.92B	473.61B	351.32B	337.22B	42.01B
Operating Cash Flow	0.00	908.68B	992.63B	860.62B	782.48B	471.85B
Investing Cash Flow	0.00	-430.22B	-572.67B	-750.95B	-413.30B	-390.92B
Financing Cash Flow	0.00	-479.08B	-456.50B	-128.76B	-357.90B	-82.39B

Oil & Natural Gas Corp. Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 252.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ONGC, the sentiment is Positive. The current price of 252.4 is above the 20-day moving average (MA) of 249.65, above the 50-day MA of 241.73, and above the 200-day MA of 240.83, indicating a bullish trend. The MACD of 3.87 indicates Negative momentum. The RSI at 57.24 is Neutral, neither overbought nor oversold. The STOCH value of 69.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ONGC.

Oil & Natural Gas Corp. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GAIL	77 Outperform	₹1.19T	10.94	―	4.10%	5.91%	-5.42%
BPCL	76 Outperform	₹1.62T	7.51	―	2.80%	-1.35%	61.80%
IOC	76 Outperform	₹2.39T	9.37	―	1.77%	-0.93%	42.85%
OIL	76 Outperform	₹701.80B	10.70	―	2.67%	-5.98%	-3.42%
ONGC	72 Outperform	₹3.18T	8.82	―	4.86%	1.94%	-18.38%
HINDPETRO	67 Neutral	₹1.03T	7.41	―	2.32%	-1.81%	231.75%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Oil & Natural Gas Corp. Ltd. Corporate Events

ONGC Takes Control of CB-OS/2 Block Amidst PSC Extension Denial

The Government of India has directed Oil & Natural Gas Corporation Limited (ONGC) to take control of the CB-OS/2 offshore block, previously managed by a consortium including Vedanta Limited and TATA Petrodyne Ltd, after the extension of the Production Sharing Contract was not accepted. This interim measure aims to ensure the continuity of petroleum operations and safeguard reserves until a new party is awarded the block, highlighting ONGC’s strategic role in maintaining energy stability.

ONGC Announces Successful AGM Voting Results

Oil & Natural Gas Corporation Limited announced the results of its 32nd Annual General Meeting held on August 29, 2025. All business items proposed during the meeting were approved with the requisite majority, as confirmed by the scrutinizer’s report. The voting results and the scrutinizer’s report have been made available on the company’s website and through the e-voting agency NSDL, indicating transparency and compliance with regulatory requirements.

ONGC Reports Q2 Financials and Green Energy Investment

Oil & Natural Gas Corporation Limited has announced its financial results for the quarter ended June 30, 2025, and has approved an investment of ₹4,963.06 Crore to set up a 0.6 GW renewable energy project, comprising 300MW each of solar and wind power, by 2028. This strategic move is expected to provide operational savings and enhance ONGC’s compliance with environmental, social, and governance (ESG) standards, potentially strengthening its market position and appeal to stakeholders.

ONGC Approves Financial Results and Unveils Major Renewable Energy Investment

Oil & Natural Gas Corporation Limited announced the approval of its unaudited financial results for the quarter ending June 30, 2025, during a board meeting. The company also revealed plans to invest ₹4,963.06 crore in a 0.6 GW renewable energy project, comprising 300 MW each of solar and wind power, by 2028. This initiative is expected to provide operational savings and enhance ESG compliance, indicating a strategic shift towards sustainable energy solutions.

ONGC, BP, and Reliance Ink Joint Operating Agreement for Saurashtra Offshore Block

ONGC, in collaboration with BP Exploration (Alpha) Ltd and Reliance Industries Limited, has signed a Joint Operating Agreement for the exploration of an offshore block in the Saurashtra Basin. This agreement, part of India’s Open Acreage Licensing Policy, aims to explore and harness hydrocarbon resources, marking a significant step towards enhancing India’s energy security and achieving long-term energy goals.