Oil & Natural Gas Corpn Ltd (ONGC): Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: December 31, 2025, 7:56 pm

Market Cap	3,02,250 Cr.
Current Price	240
High / Low	274/205
Stock P/E	8.25
Book Value	292
Dividend Yield	5.10 %
ROCE	12.0 %
ROE	10.6 %
Face Value	5.00
PEG Ratio	-1.91

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Oil & Natural Gas Corpn Ltd (ONGC)

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Gujarat Natural Resources Ltd	1,136 Cr.	88.5	97.3/16.4	715	14.1	0.00 %	0.56 %	2.87 %	10.0
Dolphin Offshore Enterprises (India) Ltd	1,930 Cr.	479	591/200	36.4	75.5	0.00 %	14.7 %	18.7 %	1.00
Deep Energy Resources Ltd	999 Cr.	312	/	694	121	0.00 %	0.39 %	0.35 %	10.0
Selan Explorations Technology Ltd	881 Cr.	580	969/475	13.4	309	0.00 %	22.8 %	17.2 %	10.0
Oil India Ltd	68,966 Cr.	424	495/322	11.5	346	2.71 %	12.9 %	13.3 %	10.0
Industry Average	32,532.00 Cr	432.23		145.54	600.59	1.02%	10.56%	9.87%	6.85

All Competitor Stocks of Oil & Natural Gas Corpn Ltd (ONGC)

Quarterly Result

Metric	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	168,656	169,213	164,067	163,824	147,614	167,357	172,137	168,968	159,331	166,097	170,812	163,108	157,911
Expenses	155,311	147,346	143,527	133,029	119,534	146,996	148,913	147,183	138,757	141,819	148,727	137,429	131,390
Operating Profit	13,346	21,867	20,539	30,795	28,080	20,360	23,224	21,785	20,574	24,278	22,085	25,679	26,521
OPM %	8%	13%	13%	19%	19%	12%	13%	13%	13%	15%	13%	16%	17%
Other Income	2,315	2,807	-4,786	3,069	3,673	4,299	3,375	3,535	4,162	2,411	3,465	2,555	3,447
Interest	1,993	2,188	2,068	2,364	3,243	3,203	3,608	3,694	3,827	3,670	3,500	3,341	3,411
Depreciation	4,443	6,784	6,744	7,078	7,079	7,494	8,420	8,501	8,254	9,497	9,043	9,384	9,273
Profit before tax	9,224	15,702	6,941	24,422	21,431	13,962	14,570	13,125	12,655	13,522	13,006	15,509	17,284
Tax %	26%	26%	7%	27%	25%	25%	24%	26%	22%	28%	32%	26%	27%
Net Profit	6,830	11,665	6,478	17,893	16,171	10,511	11,096	9,776	9,841	9,784	8,856	11,554	12,615
EPS in Rs	6.60	9.13	3.57	11.64	10.89	8.51	7.97	7.93	8.14	6.85	5.82	7.79	8.57

Last Updated: December 29, 2025, 6:34 pm

Below is a detailed analysis of the quarterly data for Oil & Natural Gas Corpn Ltd (ONGC) based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Sales, as of Sep 2025, the value is 157,911.00 Cr.. The value appears to be declining and may need further review. It has decreased from 163,108.00 Cr. (Jun 2025) to 157,911.00 Cr., marking a decrease of 5,197.00 Cr..
For Expenses, as of Sep 2025, the value is 131,390.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 137,429.00 Cr. (Jun 2025) to 131,390.00 Cr., marking a decrease of 6,039.00 Cr..
For Operating Profit, as of Sep 2025, the value is 26,521.00 Cr.. The value appears strong and on an upward trend. It has increased from 25,679.00 Cr. (Jun 2025) to 26,521.00 Cr., marking an increase of 842.00 Cr..
For OPM %, as of Sep 2025, the value is 17.00%. The value appears strong and on an upward trend. It has increased from 16.00% (Jun 2025) to 17.00%, marking an increase of 1.00%.
For Other Income, as of Sep 2025, the value is 3,447.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,555.00 Cr. (Jun 2025) to 3,447.00 Cr., marking an increase of 892.00 Cr..
For Interest, as of Sep 2025, the value is 3,411.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 3,341.00 Cr. (Jun 2025) to 3,411.00 Cr., marking an increase of 70.00 Cr..
For Depreciation, as of Sep 2025, the value is 9,273.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 9,384.00 Cr. (Jun 2025) to 9,273.00 Cr., marking a decrease of 111.00 Cr..
For Profit before tax, as of Sep 2025, the value is 17,284.00 Cr.. The value appears strong and on an upward trend. It has increased from 15,509.00 Cr. (Jun 2025) to 17,284.00 Cr., marking an increase of 1,775.00 Cr..
For Tax %, as of Sep 2025, the value is 27.00%. The value appears to be increasing, which may not be favorable. It has increased from 26.00% (Jun 2025) to 27.00%, marking an increase of 1.00%.
For Net Profit, as of Sep 2025, the value is 12,615.00 Cr.. The value appears strong and on an upward trend. It has increased from 11,554.00 Cr. (Jun 2025) to 12,615.00 Cr., marking an increase of 1,061.00 Cr..
For EPS in Rs, as of Sep 2025, the value is 8.57. The value appears strong and on an upward trend. It has increased from 7.79 (Jun 2025) to 8.57, marking an increase of 0.78.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:53 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	174,121	160,923	124,036	282,506	322,706	421,624	396,728	303,849	491,246	632,291	601,581	612,065	657,928
Expenses	124,991	118,610	84,901	229,702	265,817	346,805	344,623	254,375	411,373	556,764	499,198	523,205	559,364
Operating Profit	49,130	42,312	39,135	52,804	56,889	74,819	52,105	49,473	79,874	75,527	102,383	88,861	98,563
OPM %	28%	26%	32%	19%	18%	18%	13%	16%	16%	12%	17%	15%	15%
Other Income	7,170	5,955	1,067	12,724	10,429	9,567	982	11,271	6,797	-30	14,712	13,278	11,878
Interest	624	2,864	3,766	3,591	4,999	5,837	7,489	5,079	5,696	7,889	13,026	14,535	13,922
Depreciation	16,262	18,033	16,384	20,219	23,112	23,704	26,635	25,538	26,883	24,557	30,440	35,206	37,198
Profit before tax	39,413	27,370	20,052	41,718	39,208	54,846	18,962	30,126	54,091	43,051	73,629	52,398	59,321
Tax %	32%	35%	35%	30%	34%	38%	40%	29%	9%	24%	25%	27%
Net Profit	26,665	17,703	13,102	29,169	26,068	33,938	11,456	21,360	49,294	32,778	55,273	38,329	42,809
EPS in Rs	20.65	14.29	10.03	19.03	17.23	24.28	8.59	12.96	36.19	28.17	39.06	28.80	29.03
Dividend Payout %	31%	44%	56%	40%	38%	29%	58%	28%	29%	40%	31%	43%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-33.61%	-25.99%	122.63%	-10.63%	30.19%	-66.24%	86.45%	130.78%	-33.51%	68.63%	-30.66%
Change in YoY Net Profit Growth (%)	0.00%	7.62%	148.62%	-133.26%	40.82%	-96.43%	152.70%	44.32%	-164.28%	102.13%	-99.28%

Oil & Natural Gas Corpn Ltd (ONGC) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	14%
5 Years:	9%
3 Years:	8%
TTM:	0%

Compounded Profit Growth
10 Years:	7%
5 Years:	19%
3 Years:	-8%
TTM:	-21%

Stock Price CAGR
10 Years:	4%
5 Years:	25%
3 Years:	21%
1 Year:	-24%

Return on Equity
10 Years:	13%
5 Years:	14%
3 Years:	14%
Last Year:	11%

Last Updated: September 5, 2025, 11:50 am

Balance Sheet

Last Updated: December 4, 2025, 1:44 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	4,278	4,278	4,278	6,417	6,417	6,290	6,290	6,290	6,290	6,290	6,290	6,290	6,290
Reserves	167,874	176,177	193,536	187,969	197,602	210,644	198,814	214,691	253,213	274,357	332,779	337,150	361,489
Borrowings	49,113	53,944	45,500	80,029	106,550	107,742	129,473	133,187	121,986	142,255	191,195	187,817	176,018
Other Liabilities	103,711	103,448	98,459	170,111	148,664	167,667	173,787	187,580	201,771	190,212	206,357	221,398	237,621
Total Liabilities	324,976	337,847	341,772	444,525	459,232	492,343	508,364	541,748	583,260	613,115	736,621	752,656	781,418
Fixed Assets	155,923	179,933	166,277	211,125	226,058	230,391	243,892	243,746	254,402	250,819	317,183	336,810	362,910
CWIP	72,034	63,393	57,668	59,042	61,512	69,056	83,832	100,309	106,719	113,945	118,729	115,724	94,643
Investments	4,746	4,749	33,387	70,746	67,335	66,909	56,755	60,320	66,642	78,873	100,862	95,617	100,867
Other Assets	92,273	89,771	84,440	103,612	104,328	125,987	123,884	137,372	155,496	169,478	199,847	204,504	222,997
Total Assets	324,976	337,847	341,772	444,525	459,232	492,343	508,364	541,748	583,260	613,115	736,621	752,656	781,418

Below is a detailed analysis of the balance sheet data for Oil & Natural Gas Corpn Ltd (ONGC) based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 6,290.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 6,290.00 Cr..
For Reserves, as of Sep 2025, the value is 361,489.00 Cr.. The value appears strong and on an upward trend. It has increased from 337,150.00 Cr. (Mar 2025) to 361,489.00 Cr., marking an increase of 24,339.00 Cr..
For Borrowings, as of Sep 2025, the value is 176,018.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 187,817.00 Cr. (Mar 2025) to 176,018.00 Cr., marking a decrease of 11,799.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 237,621.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 221,398.00 Cr. (Mar 2025) to 237,621.00 Cr., marking an increase of 16,223.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 781,418.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 752,656.00 Cr. (Mar 2025) to 781,418.00 Cr., marking an increase of 28,762.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 362,910.00 Cr.. The value appears strong and on an upward trend. It has increased from 336,810.00 Cr. (Mar 2025) to 362,910.00 Cr., marking an increase of 26,100.00 Cr..
For CWIP, as of Sep 2025, the value is 94,643.00 Cr.. The value appears to be declining and may need further review. It has decreased from 115,724.00 Cr. (Mar 2025) to 94,643.00 Cr., marking a decrease of 21,081.00 Cr..
For Investments, as of Sep 2025, the value is 100,867.00 Cr.. The value appears strong and on an upward trend. It has increased from 95,617.00 Cr. (Mar 2025) to 100,867.00 Cr., marking an increase of 5,250.00 Cr..
For Other Assets, as of Sep 2025, the value is 222,997.00 Cr.. The value appears strong and on an upward trend. It has increased from 204,504.00 Cr. (Mar 2025) to 222,997.00 Cr., marking an increase of 18,493.00 Cr..
For Total Assets, as of Sep 2025, the value is 781,418.00 Cr.. The value appears strong and on an upward trend. It has increased from 752,656.00 Cr. (Mar 2025) to 781,418.00 Cr., marking an increase of 28,762.00 Cr..

Notably, the Reserves (361,489.00 Cr.) exceed the Borrowings (176,018.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	53,270	33,950	46,292	45,780	56,792	61,458	70,593	47,185	78,248	84,211	98,847	90,868
Cash from Investing Activity +	-63,633	-30,058	-38,256	-43,815	-66,798	-37,132	-53,159	-39,141	-41,197	-72,799	-57,423	-42,901
Cash from Financing Activity +	15,225	-10,641	-8,972	-1,867	9,909	-23,324	-16,726	-8,239	-35,790	-12,916	-45,009	-47,908
Net Cash Flow	4,862	-6,749	-935	99	-97	1,001	708	-195	1,261	-1,504	-3,586	59

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	0.00	-11.00	-6.00	-28.00	-50.00	-33.00	-77.00	-84.00	-42.00	-67.00	-89.00	-99.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	34	43	25	16	16	13	8	19	14	11	12	13
Inventory Days	79	65	105	65	56	48	46	85	90	61	87	99
Days Payable	155	175	290	51	48	41	31	51	66	46	61	64
Cash Conversion Cycle	-43	-67	-161	30	24	21	23	54	39	27	38	47
Working Capital Days	-59	-30	-59	-85	-61	-44	-54	-50	-24	-30	-46	-37
ROCE %	20%	13%	13%	17%	14%	19%	10%	9%	16%	14%	18%	12%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
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	8.43%	7.97%	8.11%	8.38%	9.20%	8.88%	8.57%	8.12%	7.53%	7.11%	7.08%	6.98%
DIIs	19.27%	19.87%	19.84%	19.58%	18.73%	18.88%	18.75%	19.04%	19.40%	19.93%	19.85%	19.96%
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	3.10%	2.94%	2.87%	2.83%	2.89%	3.05%	3.50%	3.65%	3.88%	3.76%	3.88%	3.87%
No. of Shareholders	15,82,153	15,48,726	15,23,406	15,13,383	15,88,564	17,90,074	21,41,479	27,88,153	30,50,312	30,30,759	30,21,301	29,59,513

Shareholding Pattern Chart

No. of Shareholders

Oil & Natural Gas Corpn Ltd (ONGC): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Flexi Cap Fund	55,000,000	1.42	1337.88	50,250,000	2025-12-15 01:18:53	9.45%
ICICI Prudential Value Fund	49,146,296	1.98	1195.48	N/A	N/A	N/A
ICICI Prudential Large Cap Fund	48,516,429	1.51	1180.16	N/A	N/A	N/A
ICICI Prudential India Opportunities Fund	35,286,389	2.53	858.34	38,699,639	2025-12-15 01:18:53	-8.82%
ICICI Prudential Multi Asset Fund	32,562,200	1.06	792.08	N/A	N/A	N/A
ICICI Prudential Equity & Debt Fund	31,349,533	1.55	762.58	N/A	N/A	N/A
SBI Contra Fund	23,896,662	1.17	581.29	N/A	N/A	N/A
Quant Small Cap Fund	18,387,225	1.48	447.27	N/A	N/A	N/A
ICICI Prudential Balanced Advantage Fund	17,135,141	0.6	416.81	N/A	N/A	N/A
SBI ELSS Tax Saver Fund	17,000,000	1.28	413.53	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	28.80	39.13	28.17	36.19	12.92
Diluted EPS (Rs.)	28.80	39.13	28.17	36.19	12.92
Cash EPS (Rs.)	57.63	69.10	48.53	60.03	36.46
Book Value[Excl.RevalReserv]/Share (Rs.)	273.00	290.21	239.47	225.22	192.84
Book Value[Incl.RevalReserv]/Share (Rs.)	273.00	290.21	239.47	225.22	192.84
Revenue From Operations / Share (Rs.)	486.53	470.14	502.63	390.51	241.65
PBDIT / Share (Rs.)	80.49	94.21	69.43	70.05	46.73
PBIT / Share (Rs.)	52.50	68.59	46.93	48.03	26.43
PBT / Share (Rs.)	40.83	59.19	34.19	41.83	23.12
Net Profit / Share (Rs.)	29.64	43.48	26.03	38.02	16.16
NP After MI And SOA / Share (Rs.)	28.80	39.13	28.17	36.19	12.92
PBDIT Margin (%)	16.54	20.03	13.81	17.93	19.33
PBIT Margin (%)	10.79	14.59	9.33	12.30	10.93
PBT Margin (%)	8.39	12.59	6.80	10.71	9.56
Net Profit Margin (%)	6.09	9.24	5.17	9.73	6.68
NP After MI And SOA Margin (%)	5.91	8.32	5.60	9.26	5.34
Return on Networth / Equity (%)	10.54	14.60	12.62	17.54	7.35
Return on Capital Employeed (%)	11.15	15.43	12.24	13.19	7.91
Return On Assets (%)	4.77	6.93	5.76	7.77	2.99
Long Term Debt / Equity (X)	0.28	0.23	0.35	0.33	0.35
Total Debt / Equity (X)	0.44	0.35	0.46	0.41	0.49
Asset Turnover Ratio (%)	0.83	0.89	0.30	0.25	0.16
Current Ratio (X)	0.80	0.88	0.86	0.83	0.75
Quick Ratio (X)	0.45	0.53	0.52	0.40	0.39
Inventory Turnover Ratio (X)	11.01	3.59	0.12	0.12	0.32
Dividend Payout Ratio (NP) (%)	46.88	26.19	49.69	25.14	14.06
Dividend Payout Ratio (CP) (%)	23.77	15.83	27.63	15.63	5.46
Earning Retention Ratio (%)	53.12	73.81	50.31	74.86	85.94
Cash Earning Retention Ratio (%)	76.23	84.17	72.37	84.37	94.54
Interest Coverage Ratio (X)	6.97	11.63	11.07	15.47	11.57
Interest Coverage Ratio (Post Tax) (X)	3.58	6.53	6.18	9.77	4.82
Enterprise Value (Cr.)	467150.84	448048.83	310615.17	330950.56	252750.74
EV / Net Operating Revenue (X)	0.76	0.75	0.49	0.67	0.83
EV / EBITDA (X)	4.61	3.78	3.56	3.76	4.30
MarketCap / Net Operating Revenue (X)	0.50	0.56	0.30	0.41	0.42
Retention Ratios (%)	53.11	73.80	50.30	74.85	85.93
Price / BV (X)	0.90	0.99	0.67	0.79	0.58
Price / Net Operating Revenue (X)	0.50	0.56	0.30	0.41	0.42
EarningsYield	0.11	0.14	0.18	0.22	0.12

After reviewing the key financial ratios for Oil & Natural Gas Corpn Ltd (ONGC), here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 5.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 5.00.
For Basic EPS (Rs.), as of Mar 25, the value is 28.80. This value is within the healthy range. It has decreased from 39.13 (Mar 24) to 28.80, marking a decrease of 10.33.
For Diluted EPS (Rs.), as of Mar 25, the value is 28.80. This value is within the healthy range. It has decreased from 39.13 (Mar 24) to 28.80, marking a decrease of 10.33.
For Cash EPS (Rs.), as of Mar 25, the value is 57.63. This value is within the healthy range. It has decreased from 69.10 (Mar 24) to 57.63, marking a decrease of 11.47.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 273.00. It has decreased from 290.21 (Mar 24) to 273.00, marking a decrease of 17.21.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 273.00. It has decreased from 290.21 (Mar 24) to 273.00, marking a decrease of 17.21.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 486.53. It has increased from 470.14 (Mar 24) to 486.53, marking an increase of 16.39.
For PBDIT / Share (Rs.), as of Mar 25, the value is 80.49. This value is within the healthy range. It has decreased from 94.21 (Mar 24) to 80.49, marking a decrease of 13.72.
For PBIT / Share (Rs.), as of Mar 25, the value is 52.50. This value is within the healthy range. It has decreased from 68.59 (Mar 24) to 52.50, marking a decrease of 16.09.
For PBT / Share (Rs.), as of Mar 25, the value is 40.83. This value is within the healthy range. It has decreased from 59.19 (Mar 24) to 40.83, marking a decrease of 18.36.
For Net Profit / Share (Rs.), as of Mar 25, the value is 29.64. This value is within the healthy range. It has decreased from 43.48 (Mar 24) to 29.64, marking a decrease of 13.84.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 28.80. This value is within the healthy range. It has decreased from 39.13 (Mar 24) to 28.80, marking a decrease of 10.33.
For PBDIT Margin (%), as of Mar 25, the value is 16.54. This value is within the healthy range. It has decreased from 20.03 (Mar 24) to 16.54, marking a decrease of 3.49.
For PBIT Margin (%), as of Mar 25, the value is 10.79. This value is within the healthy range. It has decreased from 14.59 (Mar 24) to 10.79, marking a decrease of 3.80.
For PBT Margin (%), as of Mar 25, the value is 8.39. This value is below the healthy minimum of 10. It has decreased from 12.59 (Mar 24) to 8.39, marking a decrease of 4.20.
For Net Profit Margin (%), as of Mar 25, the value is 6.09. This value is within the healthy range. It has decreased from 9.24 (Mar 24) to 6.09, marking a decrease of 3.15.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 5.91. This value is below the healthy minimum of 8. It has decreased from 8.32 (Mar 24) to 5.91, marking a decrease of 2.41.
For Return on Networth / Equity (%), as of Mar 25, the value is 10.54. This value is below the healthy minimum of 15. It has decreased from 14.60 (Mar 24) to 10.54, marking a decrease of 4.06.
For Return on Capital Employeed (%), as of Mar 25, the value is 11.15. This value is within the healthy range. It has decreased from 15.43 (Mar 24) to 11.15, marking a decrease of 4.28.
For Return On Assets (%), as of Mar 25, the value is 4.77. This value is below the healthy minimum of 5. It has decreased from 6.93 (Mar 24) to 4.77, marking a decrease of 2.16.
For Long Term Debt / Equity (X), as of Mar 25, the value is 0.28. This value is within the healthy range. It has increased from 0.23 (Mar 24) to 0.28, marking an increase of 0.05.
For Total Debt / Equity (X), as of Mar 25, the value is 0.44. This value is within the healthy range. It has increased from 0.35 (Mar 24) to 0.44, marking an increase of 0.09.
For Asset Turnover Ratio (%), as of Mar 25, the value is 0.83. It has decreased from 0.89 (Mar 24) to 0.83, marking a decrease of 0.06.
For Current Ratio (X), as of Mar 25, the value is 0.80. This value is below the healthy minimum of 1.5. It has decreased from 0.88 (Mar 24) to 0.80, marking a decrease of 0.08.
For Quick Ratio (X), as of Mar 25, the value is 0.45. This value is below the healthy minimum of 1. It has decreased from 0.53 (Mar 24) to 0.45, marking a decrease of 0.08.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 11.01. This value exceeds the healthy maximum of 8. It has increased from 3.59 (Mar 24) to 11.01, marking an increase of 7.42.
For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 46.88. This value is within the healthy range. It has increased from 26.19 (Mar 24) to 46.88, marking an increase of 20.69.
For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 23.77. This value is within the healthy range. It has increased from 15.83 (Mar 24) to 23.77, marking an increase of 7.94.
For Earning Retention Ratio (%), as of Mar 25, the value is 53.12. This value is within the healthy range. It has decreased from 73.81 (Mar 24) to 53.12, marking a decrease of 20.69.
For Cash Earning Retention Ratio (%), as of Mar 25, the value is 76.23. This value exceeds the healthy maximum of 70. It has decreased from 84.17 (Mar 24) to 76.23, marking a decrease of 7.94.
For Interest Coverage Ratio (X), as of Mar 25, the value is 6.97. This value is within the healthy range. It has decreased from 11.63 (Mar 24) to 6.97, marking a decrease of 4.66.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 3.58. This value is within the healthy range. It has decreased from 6.53 (Mar 24) to 3.58, marking a decrease of 2.95.
For Enterprise Value (Cr.), as of Mar 25, the value is 467,150.84. It has increased from 448,048.83 (Mar 24) to 467,150.84, marking an increase of 19,102.01.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 0.76. This value is below the healthy minimum of 1. It has increased from 0.75 (Mar 24) to 0.76, marking an increase of 0.01.
For EV / EBITDA (X), as of Mar 25, the value is 4.61. This value is below the healthy minimum of 5. It has increased from 3.78 (Mar 24) to 4.61, marking an increase of 0.83.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 0.50. This value is below the healthy minimum of 1. It has decreased from 0.56 (Mar 24) to 0.50, marking a decrease of 0.06.
For Retention Ratios (%), as of Mar 25, the value is 53.11. This value is within the healthy range. It has decreased from 73.80 (Mar 24) to 53.11, marking a decrease of 20.69.
For Price / BV (X), as of Mar 25, the value is 0.90. This value is below the healthy minimum of 1. It has decreased from 0.99 (Mar 24) to 0.90, marking a decrease of 0.09.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 0.50. This value is below the healthy minimum of 1. It has decreased from 0.56 (Mar 24) to 0.50, marking a decrease of 0.06.
For EarningsYield, as of Mar 25, the value is 0.11. This value is below the healthy minimum of 5. It has decreased from 0.14 (Mar 24) to 0.11, marking a decrease of 0.03.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Oil & Natural Gas Corpn Ltd (ONGC) as of January 1, 2026 is: ₹214.70

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of January 1, 2026, Oil & Natural Gas Corpn Ltd (ONGC) is Overvalued by 10.54% compared to the current share price ₹240.00

Intrinsic Value of Oil & Natural Gas Corpn Ltd (ONGC) as of January 1, 2026 is: ₹205.44

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of January 1, 2026, Oil & Natural Gas Corpn Ltd (ONGC) is Overvalued by 14.40% compared to the current share price ₹240.00

Last 5 Year EPS CAGR: -4.31%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -48.25, which is a positive sign. The company has higher reserves (238,945.77 cr) compared to borrowings (117,293.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (398.08 cr) and profit (42.23 cr) over the years.	The stock has a low average ROCE of 14.58%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 2.67, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Oil & Natural Gas Corpn Ltd (ONGC):
1. Net Profit Margin: 6.09%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 11.15% (Industry Average ROCE: 10.56%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 10.54% (Industry Average ROE: 9.87%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 3.58
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.45
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 8.25 (Industry average Stock P/E: 145.54)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.44
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Oil And Natural Gas Corporation Ltd. is a Public Limited Listed company incorporated on 23/06/1993 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1993GOI054155 and registration number is 054155. Currently Company is involved in the business activities of Off shore extraction of crude petroleum. Company's Total Operating Revenue is Rs. 133862.73 Cr. and Equity Capital is Rs. 6290.14 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Oil Drilling And Exploration	Plot No. 5A- 5B, Nelson Mandela Road, New Delhi Delhi 110070	Contact not found

Management
Name	Position Held
Mr. Arun Kumar Singh	Chairman & CEO
Mr. V C Tongaonkar	Director - Finance & CFO
Mr. Manish Patil	Director - Human Resources
Mr. Om Prakash Singh	Director
Ms. Sushma Rawat	Director
Mr. Pankaj Kumar	Director
Mr. Syamchand Ghosh	Independent Director
Mr. V Ajit Kumar Raju	Independent Director
Mr. Manish Pareek	Independent Director
Mrs. Reena Jaitly	Independent Director
Dr. Prabhaskar Rai	Independent Director
Dr. Madhav Singh	Independent Director
Mr. Praveen Mal Khanooja	Government Nominee Director

FAQ

What is the intrinsic value of Oil & Natural Gas Corpn Ltd (ONGC)?

Oil & Natural Gas Corpn Ltd (ONGC)'s intrinsic value (as of 31 December 2025) is ₹214.70 which is 10.54% lower the current market price of ₹240.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹3,02,250 Cr. market cap, FY2025-2026 high/low of ₹274/205, reserves of ₹361,489 Cr, and liabilities of ₹781,418 Cr.

What is the Market Cap of Oil & Natural Gas Corpn Ltd (ONGC)?

The Market Cap of Oil & Natural Gas Corpn Ltd (ONGC) is 3,02,250 Cr..

What is the current Stock Price of Oil & Natural Gas Corpn Ltd (ONGC) as on 31 December 2025?

The current stock price of Oil & Natural Gas Corpn Ltd (ONGC) as on 31 December 2025 is ₹240.

What is the High / Low of Oil & Natural Gas Corpn Ltd (ONGC) stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Oil & Natural Gas Corpn Ltd (ONGC) stocks is ₹274/205.

What is the Stock P/E of Oil & Natural Gas Corpn Ltd (ONGC)?

The Stock P/E of Oil & Natural Gas Corpn Ltd (ONGC) is 8.25.

What is the Book Value of Oil & Natural Gas Corpn Ltd (ONGC)?

The Book Value of Oil & Natural Gas Corpn Ltd (ONGC) is 292.

What is the Dividend Yield of Oil & Natural Gas Corpn Ltd (ONGC)?

The Dividend Yield of Oil & Natural Gas Corpn Ltd (ONGC) is 5.10 %.

What is the ROCE of Oil & Natural Gas Corpn Ltd (ONGC)?

The ROCE of Oil & Natural Gas Corpn Ltd (ONGC) is 12.0 %.

What is the ROE of Oil & Natural Gas Corpn Ltd (ONGC)?

The ROE of Oil & Natural Gas Corpn Ltd (ONGC) is 10.6 %.

What is the Face Value of Oil & Natural Gas Corpn Ltd (ONGC)?

The Face Value of Oil & Natural Gas Corpn Ltd (ONGC) is 5.00.