Arthneeti

Oil & Natural Gas Corpn Q2 FY27 Share Price & Earnings Call Analysis

Part of: Nifty 50 · Nifty 100 · Nifty CPSE · Nifty Oil & Gas · Nifty PSE · Nifty Commodities · +7 more

₹225.00+0.22% today
Market cap
₹2.83L Cr
P/E
5.68
ROE
11.65%
PEG
8.12
Price to sales
0.38
Debt to equity
0.46
52W high / low
₹301 / ₹220
Sales growth (5Y)
14.91%
EBITDA margin
13.88%
Net profit margin
8.23%
Promoter holding
58.89%
Sales (last year)
₹7.44L Cr

ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production

Guidance scorecard · Q2 FY27 call

What O N G C's management guided
and where it ranks in Oil

#8of 10 in
Oil
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%

Ask what O N G C said on revenue →

Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what O N G C said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Full-year CapEx guidance for FY27 and FY28 is in the range of USD 3.5-4 billion, dependent on project progress.
  • The Mahanadi deepwater exploration well drilling cost is about INR 800-1,000 crore (USD 100 million), with results expected by September end.
  • ONGC is executing a major capital investment program in Western Offshore projects exceeding INR 40,000 crore, including pipeline replacement, reservoir management, and field development.
  • Increased exploration CapEx is expected under the Samudra Manthan National Offshore Exploration Scheme with INR 84,084 crore outlay approved by the government. Deepwater exploration wells cost about INR 1,000 crore each, with partial government funding…

2 more points from O N G C's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what O N G C said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • ONGC is executing projects worth approximately INR 40,000 crore in the Western Offshore region.
  • A large exploration program is underway, particularly under the Samudra Manthan National Offshore Exploration Scheme with an outlay of INR 84,084 crore.
  • CapEx guidance for FY27 and FY28 is in the range of USD 3.5-4 billion annually, reflecting ongoing investments in exploration and development.
  • Survey contracts faced delays in Q1 but major contracts have been awarded, with significant survey activities planned post-monsoon.

2 more points from O N G C's call on the order book

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Full Q1 FY27 analysis
Full Oil ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Oil
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Deep IndustriesGood growth
    3
See all potential multibaggersWhere does O N G C rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Oil & Natural Gas Corpn latest results (Sep 2026)

Revenue

₹1,98,263 Cr

+26% YoY

Net profit

₹18,535 Cr

+47% YoY

Operating margin

19%

EPS

₹13.31

What management said on the call →

Oil & Natural Gas Corpn shareholding (Sep 2026)

Promoters

58.89%

unchanged QoQ

FIIs

8.55%

+0.54 pp QoQ

DIIs

18.66%

−0.65 pp QoQ

Public

3.60%

+0.10 pp QoQ

Full shareholding pattern →Dividend history →

Peers

Oil companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹3,166 Cr1954.0
240%+Flat₹2,546 Cr61.9
3Deep Industries20–40%Up 2%+₹4,112 Cr9.7
420–40%Flat₹28,312 Cr93.3
520–40%Flat₹3,179 Cr17.1
620–40%Flat₹1,977 Cr24.7

Sign up free to see every company in the sector ranking and track O N G C.

Pro shows every company guiding 40%+ revenue growth →Full Oil ranking

O N G C announcements

All announcements →

Financials of O N G C

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

O N G C

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +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 +9.20%8.88%8.57%8.12%7.53%7.11%7.08%6.98%7.43%7.97%8.01%8.55%
DIIs +18.73%18.88%18.75%19.04%19.40%19.93%19.85%19.96%19.69%19.30%19.31%18.66%
Government +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 +2.89%3.05%3.50%3.65%3.88%3.76%3.88%3.87%3.69%3.54%3.50%3.60%
No. of Shareholders15,88,56417,90,07421,41,47927,88,15330,50,31230,30,75930,21,30129,59,51328,56,48927,77,88827,36,41427,41,920

Financials of O N G C

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +147,614167,357172,137168,968159,331167,213167,749163,106157,914167,423173,801204,987198,263
YoY Sales growth-12%-1%+5%+3%+8%-0%-3%-3%-1%+0%+4%+26%+26%
Expenses +119,534146,996148,913147,183138,757142,858145,983137,336131,484142,088148,449189,502161,133
Operating Profit28,08020,36023,22421,78520,57424,35421,76625,77026,43025,33525,35215,48537,130
OPM %19%12%13%13%13%15%13%16%17%15%15%8%19%
Other Income +3,6734,2993,3753,5354,1622,4153,5482,4643,5393,4505,7023,8585,094
Interest3,2433,2033,6083,6943,8273,7503,2643,3413,4113,2073,0702,8543,411
Depreciation7,0797,4948,4208,5018,2549,5398,9129,3849,2739,3889,3459,47711,731
Profit before tax21,43113,96214,57013,12512,65513,48013,13715,50917,28416,19018,6407,01227,082
Tax %25%25%24%26%22%28%32%26%27%26%27%7%32%
Net Profit +16,17110,51111,0969,7769,8419,7478,96511,55412,61511,94613,6786,55418,535
EPS in Rs10.898.517.977.938.146.825.917.798.577.968.609.4613.31

Financials of O N G C

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +160,923124,036282,506322,706421,624396,728303,849491,246632,291601,581612,064608,663744,475
Sales growth-8%-23%+128%+14%+31%-6%-23%+62%+29%-5%+2%-1%+13%
Expenses +118,61084,901229,702265,817346,805344,623254,375411,373556,764499,198523,207505,543641,172
Operating Profit42,31239,13552,80456,88974,81952,10549,47379,87475,527102,38388,857103,120103,303
OPM %26%32%19%18%18%13%16%16%12%17%15%17%14%
Other Income +5,9551,06712,72410,4299,56798211,2716,797-3014,71213,28214,92318,105
Interest2,8643,7663,5914,9995,8377,4895,0795,6967,88913,02614,53513,02912,542
Depreciation18,03316,38420,21923,11223,70426,63525,53826,88324,55730,44035,20637,39139,942
Profit before tax27,37020,05241,71839,20854,84618,96230,12654,09143,05173,62952,39867,62368,925
Tax %35%35%30%34%38%40%29%9%24%25%27%26%
Net Profit +17,70313,10229,16926,06833,93811,45621,36049,29432,77855,27338,32949,79350,714
EPS in Rs14.2910.0319.0317.2324.288.5912.9636.1928.1739.0628.8032.9339.33
Dividend Payout %44%56%40%38%29%58%28%29%40%31%43%22%

Financials of O N G C

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital4,2784,2786,4176,4176,2906,2906,2906,2906,2906,2906,2906,2906,290
Reserves176,177193,536187,969197,602210,644198,814214,691253,213274,357332,779337,150365,478394,283
Borrowings +53,94445,50080,029106,550107,742129,473133,187121,986142,255191,195187,817174,316183,002
Other Liabilities +103,44898,459170,111148,664167,667173,787187,580201,771190,212206,357221,401239,518250,040
Total Liabilities337,847341,772444,525459,232492,343508,364541,748583,260613,115736,621752,658785,602833,615
Fixed Assets +179,933166,277211,125226,058230,391243,892243,746254,402250,819317,183340,175346,073367,286
CWIP63,39357,66859,04261,51269,05683,832100,309106,719113,945118,729112,614116,27279,127
Investments4,74933,38770,74667,33566,90956,75560,32066,64278,873100,86295,617101,084130,607
Other Assets +89,77184,440103,612104,328125,987123,884137,372155,496169,478199,847204,252222,173256,595
Total Assets337,847341,772444,525459,232492,343508,364541,748583,260613,115736,621752,658785,602833,615

Financials of O N G C

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +33,95046,29245,78056,79261,45870,59347,18578,24884,21198,84790,856112,719
Cash from Investing Activity +-30,058-38,256-43,815-66,798-37,132-53,159-39,141-41,197-72,799-57,423-42,879-57,419
Cash from Financing Activity +-10,641-8,972-1,8679,909-23,324-16,726-8,239-35,790-12,916-45,009-47,908-56,331
Net Cash Flow-6,749-93599-971,001708-1951,261-1,504-3,58668-1,031
Free Cash Flow17,05331,19925,44529,06135,69728,73515,14745,15847,75860,96550,14372,219
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit102%138%105%119%103%155%111%115%132%111%118%128%

Financials of O N G C

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days43251616138191411121313
Inventory Days65105655648468590618799119
Days Payable17529051484131516646616484
Cash Conversion Cycle-67-16130242123543927384748
Working Capital Days-30-59-85-61-44-54-50-24-30-46-37-37
ROCE %13%13%17%14%19%10%9%16%14%18%12%14%

Guidance history

How O N G C's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

14out of 100

Momentum score · price trend

14 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,937 stocks
Last 12 months−10.3%41%
Last 6 months−24.8%7%
Last 3 months−4.8%46%

The price is 32.3% below its all-time high of ₹332.55 (9 Aug 2024). Stocks more than 20% below their peak have their score halved, so 29 became 14.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For O N G C: 0.4 × 41 + 0.4 × 7 + 0.2 × 46 = 29, halved to 14 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Oil & Natural Gas Corpn: frequently asked questions

What is Oil & Natural Gas Corpn share price today?

Oil & Natural Gas Corpn last traded at ₹225, with a market capitalisation of ₹2.8L Cr and a P/E ratio of 5.7.

What were Oil & Natural Gas Corpn's latest quarterly results?

For the quarter ended Sep 2026, Oil & Natural Gas Corpn reported revenue of ₹1,98,263 Cr (+26% year on year) and net profit of ₹18,535 Cr, with an operating margin of 19%.

Is Oil & Natural Gas Corpn's profit growing?

Net profit was ₹18,535 Cr in Sep 2026 against ₹12,615 Cr in Sep 2025, a change of +47%.

What is Oil & Natural Gas Corpn's EPS?

Oil & Natural Gas Corpn's earnings per share for the quarter ended Sep 2026 was ₹13.31.

What is the promoter holding in Oil & Natural Gas Corpn?

Promoters held 58.89% of Oil & Natural Gas Corpn in Sep 2026 (unchanged versus Jun 2026).

How much do FIIs and DIIs hold in Oil & Natural Gas Corpn?

In Sep 2026, foreign institutional investors held 8.55% and domestic institutions (including mutual funds) held 18.66% of Oil & Natural Gas Corpn.

What is Oil & Natural Gas Corpn's ROE and ROCE?

Oil & Natural Gas Corpn's return on equity is 11.6% and its return on capital employed is 14.2%.

Does Oil & Natural Gas Corpn pay a dividend?

Yes. Oil & Natural Gas Corpn's dividend yield is 5.72% at the current price. The full payout history is on the Oil & Natural Gas Corpn dividends page.

Which sector does Oil & Natural Gas Corpn belong to?

Oil & Natural Gas Corpn is in the Oil sector. Its peer comparison and sector ranking are on this page.

What did Oil & Natural Gas Corpn's management say on the latest earnings call?

Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from Oil & Natural Gas Corpn's management.

How does Arthneeti AI analyse Oil & Natural Gas Corpn?

Arthneeti reads Oil & Natural Gas Corpn's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.

Continue your research

What O N G C's management said in earlier quarters

Earlier calls (7)

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