Oil & Natural Gas Corpn Ltd
Oil & Natural Gas Corpn Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Standalone oil production expected to grow from 19.8 MMT in FY26 to 21 MMT in FY27. ONGC aims to increase gas production from new wells to about 30-35% of total gas output within 3-4 years, enhancing revenue with premium pricing.
From Oil & Natural Gas Corpn Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Standalone oil production expected to grow from 19.8 MMT in FY26 to 21 MMT in FY27.
- Gas production expected to increase from 20 BCM in FY26 to 21.5 BCM in FY27, with some production ramps likely in early FY27 to compensate for current year deferments.
- New well gas (NWG) production to rise gradually from current 13.4-14% share to about 30-35% of total gas production over the next 3-4 years.
- Incremental gas production of 5 MMSCMD expected from Daman upside starting late FY26; DSF-II field to add another 4 MMSCMD next year.
- BP-led Mumbai High field redevelopment to boost oil and gas production by approximately 60% over 10 years, with visible gains from January 2026; peak impact expected by FY28-FY30.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Oil & Natural Gas Corpn Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Renewable Energy: INR 5,000 crore already invested for acquisition of renewable energy assets; additional job awarding for another INR 5,000 crore to build own assets; plan for about 10 GW capacity by 2030.
- Annual E&P CapEx: INR 30,000 to INR 33,000 crores planned per year, exclusive of renewables.
- Mozambique Project: Total project CapEx approved at $18.2 billion; force majeure likely lifting soon, with potential further approvals if cost escalates.
- Cost Optimization: Targeting INR 5,000 crore reduction in OpEx through logistics, energy efficiency, and rig operations.
- New Developments: Daman upside and DSF-II fields under development, expected production ramp-up in FY26-27.
2 more points management made on capital expenditure plans
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Oil & Natural Gas Corpn Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
2 more points management made on order book & pipeline
Oil & Natural Gas Corpn Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.7L Cr, net profit ₹13.7K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What O N G C's management said in earlier quarters
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Frequently Asked Questions
What were Oil & Natural Gas Corpn Ltd Q2 FY26 results?
Standalone oil production expected to grow from 19.8 MMT in FY26 to 21 MMT in FY27. ONGC aims to increase gas production from new wells to about 30-35% of total gas output within 3-4 years, enhancing revenue with premium pricing.
What is Oil & Natural Gas Corpn Ltd share price analysis?
Oil & Natural Gas Corpn Ltd currently shows a neutral. The stock trades at a P/E of 6.8 with a market cap of ₹297,398 Cr. Investors should review the full earnings analysis for detailed insights.
Is Oil & Natural Gas Corpn Ltd planning capital expenditure?
Renewable Energy: INR 5,000 crore already invested for acquisition of renewable energy assets; additional job awarding for another INR 5,000 crore to build own assets; plan for about 10 GW capacity by 2030.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.